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$1 lottery - Learn to trade with Nano account

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  • Post #1
  • Quote
  • First Post: Edited 10:13pm Oct 25, 2013 10:00pm | Edited 10:13pm
in my view to learn Forex we don't need big investment , we could start low as $0.50 and learn , demo is good for testing but it is not the right tool for learning. in real world we have slip, spread spike , etc. ... but demo have non of them. demo is a genuine world but live account is in ......... world (u fill the blank as u wish )

i should thank chicky for inspire me to start this new project .

Project terms

1. no daily/weekly/monthly target
in my experience Target lead to stress, so let it go free
2. trade any pair that have potential to give return , i prefer Gb/au unfortunately oanda spread very high for this pair
3. lot size = i will be trading 5 ~ 50 currency unit per $1 (1lot = 100,000 unit)
4. Leverage = 50
5. Goal having balance of $1 and minimum of 100 trades after 1 year (making doesn't mean will have it @ end )

Thread term
1. Be polite
2. Respect every one
3. this is a G rated thread , so please use language that suitable for all audience


Account
Deposit = $1 (25/10/2013)



now i have purchased $1 lottery ticket , i have to wait 1 year for result , u never know i might win jackpot
Mohan
  • Post #2
  • Quote
  • Edited 10:48pm Oct 25, 2013 10:03pm | Edited 10:48pm
one of the famous quote in my language

Quote
ஓடு மீன் ஓட உறுமீன் வருமளவும்
வாடி இருக்குமாம் கொக்கு.
ஓடு மீன் -- Fishes that are very small /fish that run fast ( Tiny options)
உறுமீன் -- Big Fishes. (Nice opportunities)
வாடி இருக்குமாம் = Untiring Await
கொக்கு. =crane


means that those who are modest are wise men who are waiting for a nice opportunity!!!!

that great things cannot be done in a hurry and that one who wishes to achieve great things has to work with a keen sense of time & timing and must have patience in addition to competence.


"Untiring Await for an awesome Catch"
Attached Image





this lung fish waiting very long for water
Inserted Video


always have your protection , otherwise your hard work might vanished in few sec.
Inserted Video




finally a Silly quote from mohan (its me)

Quote
if i park my $1 with people making 20% a day , i will be a trillionaire in year time
Mohan
Hi, I don't want to insult your method.
I just want to know how you dealing with emotion that you earn 1 dollar in a year, while outside forex you can earn it in 1 day or 1 hour.
  • Post #4
  • Quote
  • Edited 10:50pm Oct 25, 2013 10:34pm | Edited 10:50pm
Quoting koi99
Hi, I don't want to insult your method. I just want to know how you dealing with emotion that you earn 1 dollar in a year, while outside forex you can earn it in 1 day or 1 hour.
welcome to the thread

learning is not learning this is a Demo replacement . this project have mutual benefit , i will again emotion control , wining greedy , while followers learn bad side of the market which they can't leaned with Demo


to be honest for earning i have separate account
Mohan
to be honest for earning i have separate account

Which way you trade this account? Where I can see, I will make priority with huge account then if I have spare time I will trade this little account.
So it will not be effective to learn from this little account. Not to mention different lot size make different emotion in trading.
I like this idea and ... philosophy ...
That's a smart way of learning.
The important part - how many pips you make.
Only remember... the stress level when trading with more 000 will be different.
The mind of human works differently, when account is bigger and it is real money.

Good Luck !
If you lose one 1 $ I can offer one more as investor. Maybe others will join....
  • Post #7
  • Quote
  • Edited 12:52am Oct 26, 2013 12:29am | Edited 12:52am
Quoting RabbitWolf
I like this idea and ... philosophy ... That's a smart way of learning. The important part - how many pips you make. Only remember... the stress level when trading with more 000 will be different. The mind of human works differently, when account is bigger and it is real money. Good Luck ! If you lose one 1 $ I can offer one more as investor. Maybe others will join....

Definitely , more zero we have we get more knee shake, goal of the thread is not making money but gain knowledge

Quote
5. Goal having balance of $1 and minimum of 100 trades after 1 year (making doesn't mean will have it @ end )

edit:
Person who spend year time to earn few $ know value of a $ more than any one else
Mohan
Mohan Jee, Good thread

Many experimental trading threads go either dead or astray after some time, for one reason........... the thread starter taking trades that are not there only to have thread going and people visiting.

Please do not take any trade which is not there. We will wait for days, weeks or even months with patience. No problem if you remain on sidelines for days. In order to keep this thread moving during these periods of time, you may like to post explaining why you are not taking a trade.

I will remain a regular visitor, though not posting either too much or too little here................. (when I post too much or too little on a thread, its normally bullshit.)
The Thief of Wall Street
Many of you talk about a greater stress coming with greater amount.

While i do agree that there is definitely more stress when looking for potential entry with greater amount. But as soon as the position is opened, i don't count in money term but in % profit compared to opening balance (+ while making a 1k profit with a 0.1k account would be marvelous, achieving the same profit on a 100k account would be looked at completely differently, even though the amount earned is the same, and not negligible should i add)

Maybe it won't work for all of you but i found this a nice trick for taking out a part of that stress.
Quoting Chicky
(when I post too much or too little on a thread, its normally bullshit.)
The summary of all Chickys posting, bullshit
Hello Mohan,

This is anyway interesting => Subscribed, you are in my long term watch list

Just two words, first you called your explorer "1$ dollar lottery". Doesn't that mean that it doesn't matter wether you win or lose ? For me, that could be a mind trap. Maybe, could I propose a suggestion : "1$ Challenge" ?

Second, you stated that you want to learn patience and trading with this, and I'm ok with that, but on another sentence you said "to be honest for earning i have separate account" . What do you mean by that ? A separate trading account with higher figures ? Please develop.

And final word, Trade well and Good Luck !
Simplicity is the Ultimate Sophistication.
Seems fun mate, am going to watch, maybe I can even be usefull. Its not like I had short term targets, actually pretty long term, but my silly RR @ 100:1 could be good for lottery .
"I know one thing, that I know nothing." Sokrates
this week Balance update (FF trade explore not showing cent balance )

Attached Image


4 cent profit for 3 hours hard work
Mohan
Quoting broketrader
Hello Mohan, This is anyway interesting => Subscribed, you are in my long term watch list Just two words, first you called your explorer \"1$ dollar lottery\". Doesn't that mean that it doesn't matter wether you win or lose ? For me, that could be a mind trap. Maybe, could I propose a suggestion : \"1$ Challenge\" ? Second, you stated that you want to learn patience and trading with this, and I'm ok with that, but on another sentence you said \"to be honest for earning i have separate account\" . What do you mean by that ? A separate trading...

in my view Challenge = fear of losing + fighting for victory , i like to be normal .


regarding other account , trading is my main source of income , i have different account for different trading style . i bealive my other activity should not influence this project.
Mohan
Ok, since I like the idea and my long term targets are useless for purpose of this thread, am going to make an attempt to describe how am doing what I call beer trades. Hope its not too much out of you goal mate, if yes, please stop me. At start I have to mention beertrades actually aint working great. Overall profitable, but kinda silly, as they are what they are, beertrades, and their main purpose is just me learning how to enter more precisely. Am using same entry sequence I am using for long term trades, but trading literally any S/R or pattern, mostly in times some mid term trend is going against me (which can last very long ). Well beertrades are RR usually @ 1:3 so like 3 beers to win 9, and aiming just for little fixed amounts of pips. Incredibly stupid, I know. The idea behind fixed amount of SL/TP, is just because since I make kinda thick S/R, PA doesnt touch to the pip. So the idea is like - you have a 50 pips thick zone where you expect weekly move to hold. And one lucky day, you are going to close daily candle within that zone, and thats the place to make a beertrade. Weekly zone holds and daily close makes short term entry point. There much much more patterns I use for beertrades and I wasnt doing printsceens, as I actually didnt care that much, but if you wont mind Mohan, I can try to do some.

Mhm, not sure if I wrote what I wanted, it would actually fill few pages, so think am going to edit it later or write in word.

T
"I know one thing, that I know nothing." Sokrates
Quoting Tom_D_Trader
Ok, since I like the idea and my long term targets are useless for purpose of this thread, am going to make an attempt to describe how am doing what I call beer trades. Hope its not too much out of you goal mate, if yes, please stop me. At start I have to mention beertrades actually aint working great. Overall profitable, but kinda silly, as they are what they are, beertrades, and their main purpose is just me learning how to enter more precisely. Am using same entry sequence I am using for long term trades, but trading literally any S/R or pattern,...

you should have good return today, i am bit in hurry catch you later (in 2days)
Mohan
Quoting mohan76
this week Balance update (FF trade explore not showing cent balance ) {image} 4 cent profit for 3 hours hard work
Well not in main graph (it gets rounded) but it shows in details.
Explorer> Trade Report> Funds> Balance
http://www.forexfactory.com/showthre...2815#25-report


Not sure about the 1$ part (98% brokers dont allow deposit/trading with that low amount)
but this is something every guy testing his discipline with trades, should do (esp. newbies) ... i.e. trading with a token small REAL money !
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • Post #18
  • Quote
  • Edited 10:08am Oct 28, 2013 8:52am | Edited 10:08am
Ok, so, I just made a beertrade, so this is how it goes. Am watching 97,65 on UJ as it is beeing this weekly fibo crap. Was looking for hold on weekly. Next chart is Daily and you see those dojis down there. Now that is a strong rejection and could hint next week could close above 97,65. Since we gaped up, I waited for retracement and entered. Now my regular trade has SL below 97 and aiming to the skies, but now I am trying to make a few beers in the meanwhile. So we may be starting retracement and daily should be bouncing of 97,65, so just zoom there to m1 chart and make a minirange. Which is about 97,66 - 97,6. 6 pips. So, pretty safe entry anywhere in minizone and SL just below 97,6 and if it is going to go up, am not actually writing RR .

Sorry, I wanted to write it faster but PA is going away. We still may have a look back in minizone though.

edit: I need to mention one important thing about these beertrades. Because they are silly, they can easily loose. But because they are in small zone, SL doesnt need to be far, so they are cheap. So I always enter two or three mini trades and a) take partial as soon as possible and at least the same what I risk at SL for the rest of beertrades b) If I cant get big enough partial to have free SL, am waiting for two retests of breakzone and then lock at BE.

edit2: Not sure if this applies to static beertrading, but am taking partials cause of those bad homesales. Those are not nice numbers. And ofc pending 97,65 SL 97,59. Its just beers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly fibo.JPG Size: 92 KB
Click to Enlarge Name: daily.JPG Size: 91 KB
Click to Enlarge Name: m1.JPG Size: 90 KB
"I know one thing, that I know nothing." Sokrates
  • Post #19
  • Quote
  • Edited 10:52am Oct 28, 2013 10:17am | Edited 10:52am
Ok, next beertrade coming out, as I closed all because of home sales, so, another pending at 97,64, SL 97,585, TP 97,8. RR 3,2:1.

Edit: SL actually 97,585.
Edit: Ok, so trade opened. Wish me beers
"I know one thing, that I know nothing." Sokrates
  • Post #20
  • Quote
  • Edited 12:25pm Oct 28, 2013 11:12am | Edited 12:25pm
Still BSting here with those beertrades, so, aggregated SL is 6,6USD. Now how to have a free SL. I take partial TP at 97,74. The only reason is that it is close and if PA gets there, I save 1,65 on SL of this trade and get 3USD. 6,6 - 4,65 = 1,95 USD. So if PA gets to 97,74, I risk 1,95USD if 97,585 gets retested, and that is below both fibo crap and daily close.

Hope it works .

Edit: PL column is BS, as it is counted for 98 target.
Attached Image (click to enlarge)
Click to Enlarge Name: Beers.JPG Size: 67 KB
"I know one thing, that I know nothing." Sokrates
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