This is the place for traders with profitable live accounts to share their ideas with others.
[ ] Live Accounts Only.
[ ] Stop-Losses Mandatory OR Alert-alerts with trader present at all times.
[ ] Profit Factor above 1.00.
[ ] Minimum 30 Trades.
[ ] Minimum 3 Months.
[ ] At least one Live Chart.
[ ] Equity Graph and/or Performance Report.
[ ] Relevant concepts from live trading.
I currently have two live $50 accounts with IBFX using Alert-alerts, I trade one penny (.01), usually EURJPY 5m, but also 1m, 15m, 30m; USDJPY and EURUSD. Both accounts are down about $4 each, I will share my money management mistakes. Here is live account #1 from January to present:
#1 Rule: Manage the Risk not the reward. #2 Rule: Manage the Reward by managing the risk. #3 Rule: Repeat 1 and 2.
Back in January, my first mistake, I set my stop-losses too large at $1 (100 pips) with a 50 trade objective, now, I try to keep my stop-losses within recovery striking distance of at least the next few trades. I try to keep stop-losses to a dime (10 pips) or less. It is working with this account. The profit factor is 1.46, not great but a start.
My mistake with live account #2, I scaled in more pennies when the trade went against me, the account is stabilizing since I stopped that practice, now I enter with a penny and exit with a penny. I try to have the discipline to only trade when I have a confident setup, for example, a buy setup: Accelerator Oscillator is showing divergent upward acceleration and Stochastics is at least below 30. For a sell trade, Accelerator Oscillator is showing divergent downward acceleration and Stochastics is at least above 70. When I see explosive movement up (or down) and Stochastics especially is almost going off the screen, I'm in, sometimes, it's -2, -1, 0, +1 ... but sometimes it's scary, -2, -3, -5, -7, -10 I'm out, I'll step back and take another shot. I have to be decisive, don't let it go, -14, that's another mistake, hoping it will come back. Of course, things don't always work and that's what stops are for.
I want the zero line to automatically show in Accelerator Oscillator, below the color and width properties, I added:
#property indicator_level1 0
[Compile] button
I want levels to automatically show in Stochastics, below color and width properties, I added:
#property indicator_level1 10
#property indicator_level2 20
#property indicator_level3 30
#property indicator_level4 70
#property indicator_level5 80
#property indicator_level6 90
[Compile] button
Best Wishes to all my trading brother and sisters.
[ ] Live Accounts Only.
[ ] Stop-Losses Mandatory OR Alert-alerts with trader present at all times.
[ ] Profit Factor above 1.00.
[ ] Minimum 30 Trades.
[ ] Minimum 3 Months.
[ ] At least one Live Chart.
[ ] Equity Graph and/or Performance Report.
[ ] Relevant concepts from live trading.
I currently have two live $50 accounts with IBFX using Alert-alerts, I trade one penny (.01), usually EURJPY 5m, but also 1m, 15m, 30m; USDJPY and EURUSD. Both accounts are down about $4 each, I will share my money management mistakes. Here is live account #1 from January to present:
#1 Rule: Manage the Risk not the reward. #2 Rule: Manage the Reward by managing the risk. #3 Rule: Repeat 1 and 2.
Back in January, my first mistake, I set my stop-losses too large at $1 (100 pips) with a 50 trade objective, now, I try to keep my stop-losses within recovery striking distance of at least the next few trades. I try to keep stop-losses to a dime (10 pips) or less. It is working with this account. The profit factor is 1.46, not great but a start.
My mistake with live account #2, I scaled in more pennies when the trade went against me, the account is stabilizing since I stopped that practice, now I enter with a penny and exit with a penny. I try to have the discipline to only trade when I have a confident setup, for example, a buy setup: Accelerator Oscillator is showing divergent upward acceleration and Stochastics is at least below 30. For a sell trade, Accelerator Oscillator is showing divergent downward acceleration and Stochastics is at least above 70. When I see explosive movement up (or down) and Stochastics especially is almost going off the screen, I'm in, sometimes, it's -2, -1, 0, +1 ... but sometimes it's scary, -2, -3, -5, -7, -10 I'm out, I'll step back and take another shot. I have to be decisive, don't let it go, -14, that's another mistake, hoping it will come back. Of course, things don't always work and that's what stops are for.
I want the zero line to automatically show in Accelerator Oscillator, below the color and width properties, I added:
#property indicator_level1 0
[Compile] button
I want levels to automatically show in Stochastics, below color and width properties, I added:
#property indicator_level1 10
#property indicator_level2 20
#property indicator_level3 30
#property indicator_level4 70
#property indicator_level5 80
#property indicator_level6 90
[Compile] button
Best Wishes to all my trading brother and sisters.
two new rules for this thread:
