Going Live

Hi,


This thread is about me,a novice trader, who learned SD (supply and demand) trading pretty much what Alfonso teaches but a few different rules, I learned SD originally elsewhere.
So I studied SD trading for about 6 months and thinking that I got it I went in and it was success at the beginning.....turned 300EUR in to 1000EUR within a few weeks time.
Lost ALL in 1 day! Only because I lost it mentally.


Changing the strategy and money management rules did not help. The thread later became mental which still is the main topic here.


Not feeling comfortable sharing explorer yet. I might add it in near future...

Good luck Vitez. Are you adding trade explorer?

Dave.

Thank you Dave! In your nick I found the answer to what I need to add hahah!

No, no trade explorer. Just weekly comments.

Alright so this week was more or less about opening an account.

I pulled 2 EUR trades both short and both ended up breakeven.

When price went in my direction I felt slightly more euphoria than with demo. Because it was slight I'm going to challange my self more by increasing lot size by funding with another $200. Let's see how that feels.

So risk still at 5%

trading just the majors EUR GBP CHF CAD and US500 index.

Hey Vitez,

I guess by now you are wondering why two of your trades would close at BE, while in
the demo it was different.
Welcome to the real world. Men I wish you good luck in your trading.

Danny

Hey Danny no I didn't say that.

It would be exactly the same in demo except for 1 point slip (which is ok).

Thank you, luck sure plays it's role sometimes

So again this thread is:

-not for sharing specific trades or proving anything otherwise I'd use trade explorer
-for keeping me from silly trades by showing this journal publicly
-for you if you are curious what happens and if you seek motivation

I'll provide:

-weekly comments on what did I trade
-weekly % gain


I don't like to share specific trades but I sure don't have a holy grail

-daytrader/swingtrader
-will add funds based on my result but all together no more than $2400 reserved for FX

Cheers!

After a few BE and a few loosing GBP trades I figured out that I have to rethink my MM rules! Something ain't right. I have to have more winners!

So far 1 winner with XAUUSD (which I added to watch list) with a nasty slip of 0.80. The trade made my account up 23EUR. Gonna write in EUR now cause I have an EUR account.

My new exit is 1/2 out at 12 pips and aggressive mental trail the other half. I think this is the best option so far. I make around 20 trades/month so I have to let it ride at least 1/2 of it.

So 323E is the new balance. 100E/trade is the risk.

By risking more I was finally able to get to my emotions and it was crazy! Very impatient to make a trade and extra impatient to make profit! It reminded me of days when I was a virgin...NO I don't want to party just give me a cunt! Give it to meeee! Giveeee iiiiit!!!

Edit: Weekly Gain: -11%

Interesting week trading mostly GBP long US500 short and XAU short.

Turned my account up from 300 to 460E but then the last trade came and I'm down to 267E. Very nasty way to end the week however I learned a lot!

Made some changes:

Cancelled CHF and CAD from watch list cause I haven't touched those and EUR GBP US500 XAU are more than enough!

New MM rules:
-1/2 off at 12pips
-1/2 tight mental trail
-scale in the other half if it's a runner
-fixed risk of 100E/trade (1/3 of account)
-increase risk as account increases but never decrease risk

Special rule: Follow your intuition.

Somehow failed to follow my rules had I followed them I'd still be up 100E.

Going forward very motivated!

Thank you Mr. Market!

Vitez your risk is way beyond par. 33% per trade is quite high men.
Secondly lock in your profits once you are into profit and follow your weekly targets.

Danny

That's an INSANELY high risk per trade. You should risk max 1-2% per trade if you want to get anywhere in forex. I mean, if this is "fun money", go ahead and have fun. But if you're trying to take this seriously, this is crazy.

Not fun money at all! I'm going to trade to live..

Well risking 1% of 300EUR won't get me anywhere will it?

It makes total sense (to me at least) that capital is big game changer. Sure if you have 100k you can risk 1% or less and have fancy fuck...well I'm not there yet.

I have to say I'm sorry for no trade explorer...would be much more interesting...maybe after a few months!

Cheers!

Alright I'm calling it a week, going out of town etc.

Due to the stupidfucking EA I left 100EUR on the table cause it (EA) resets if I change time frame!!

Anyway account up with

Weekly gain: 242%

New risk: 1/4 of account

Thank you Mr. Market!

Blew the account!

What happened was I actually turned 300E into 1000E which is nice and also nothing to brag about considering the risk. The best thing is that I was in control when achieved the result.

Then I missed a few nice trades I remember gold short was one of them. Couldn't stop thinking about the missed trades and suddenly lost control! I started taking silly trades, overtrading etc..the whole account went down in a day.

The very greedy part of me has to be in control otherwise this will happen again.

So I'll work on that and in a few months I'll try again.

I learned a ton so,

Thank you Mr. Market!

Your mistake seriously is over-demoed .2 years is way overkill.
Demo should be used for testing and learning the platform however if you trade continuously then you are not learning trade psychology which is your weak point.
Your compulsion,anger,chasing trades is the result of emotional weakness.This we all experience but we must actively try to work at it.
Trade small until you feel confident.

Davit I actually went back to demo and in 2 weeks I'll return to real account. I feel confident to start again.

Did slight trading plan changes, however still trading PA only, added some pairs and still risking 33%. Why such a high risk? Cause I'll start with only $200.

When I up the account I'll withdraw $ in case I loose control again.

Don't feel like revenge time or something...feels like I really can do it.

Mostly working on not to overtrade and not to have a super optimistic TP hahah!

First group: EUR, CHF, JPY, USoil, Gold
Second group: AUD, CAD, GBP

Time frame: D1 + 1H

Same broker: IC Markets

Account: $200

Added: Brent oil, EURJPY

I figured the main error I did with money management was risking fixed amount. Margin wise and also as better defence again blowing the account up, I should still manage risk in % and that will be 30%.

Ok if this weeks goes well I'll return with real money.

I figured new idea regarding money management:

If risk is 33% then after 1 looser I'd need 2 winners to get back SO I decided to risk 25% but after 1 looser the risk is 33% which gets me back to where I was. Martingale based idea.

Rarely I loose twice in a row but if I do it's time to add funds.

THE RESULT

Lost 50% of demo account which indicates I'm not ready yet. Although the end of the week was quite nice when I did some changes.

CHANGES

Somehow I naturally started to scalp/daytrade smaller TF like 1m-15min. I felt better trading those TF much more relaxed than trading 1H! Keeping my eye on D1 and H1 charts but trading from lower ones!

GAME CHANGER

I finally figured out the formula to the real money management that allows compounding and also keeps the risk reasonable. It's all about focusing on pips as they say...

Lot size = Balance / (req margin for 1 lot + risk in pips)

that is if your broker has Margin stop of 100% like mine does. 100% is quite high but it's a regulated broker with nice spreads and 500:1 leverage.

So with this formula I don't need to use SL because it's automatic via Margin stop. If the risk is small like 40-80 pips I can turn micro account up quite alot as long as my game is tight.

And for that low risk I need smaller TF mostly I enjoy the 5min. For more aggressive style I'd need faster platform, 1 click trading etc which is too aggressive.


Bottom line: I've found my self in this game, now all I need is work work work....after 1 successful demo week I'll return with $200 real money.