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$1 lottery - Learn to trade with Nano account

  • #21
  • Oct 28, 2013 10:39am Oct 28, 2013 10:39am
This thread just gave me an awesome idea. Thanks!
  • #22
  • Oct 28, 2013 11:11am Oct 28, 2013 11:11am
Amazing, I have never seen before this kind of account in fx,

Mohan you are great, for learning perpose

It is realy $ 1 jackpot.
Good thoughts and actions can never produce bad results.
  • #23
  • Oct 28, 2013 1:29pm Oct 28, 2013 1:29pm
Hi! Your little project seems interesting. But, beware, the most valuable asset of living beings is time. So be careful what you get in exchange for it. If you intend to change from trading demo to real, this is, in my opinion, a wrong step. We trade in order to make money. As much as possible within a time frame and a risk scheme. Market knowledge, feelings and the rest are a byproduct.

In my personal experience, I figured out that a demo account should be used to boost ones confidence. To confirm the trader that he understands and that he is in sink with the charts. I use the one linked to trader explorer just to test the waters. Before UK start and after US close, I'm logged in my demo account. This is when I watch to see if my charts are respected and if I have the picture every one else has. As an example, today started pretty bad and both e/u and gold went crazy ruining my wonderful weekend price predictions Today, the real account was not touched.

Good luck in your future endeavors and may that tiny account compound to seven figures in 10 years time!
  • #24
  • Oct 28, 2013 10:44pm Oct 28, 2013 10:44pm
manage to get local sim , internet is very very slow , trying to take few trades
Mohan
  • #25
  • Edited Oct 30, 2013 2:35am Oct 29, 2013 11:08pm | Edited Oct 30, 2013 2:35am
took a small gb/au short targeting 50 pip , might close if not behave properly
Edit : closing it , cable showing some sign bounce +au @ resistance + Franky time , might reload if pa offer entry

edit 2: should have hold it pa going to target zone
Mohan
  • #26
  • Oct 29, 2013 11:32pm Oct 29, 2013 11:32pm
Quoting BooG
Hi! Your little project seems interesting. But, beware, the most valuable asset of living beings is time. So be careful what you get in exchange for it. If you intend to change from trading demo to real, this is, in my opinion, a wrong step. We trade in order to make money. As much as possible within a time frame and a risk scheme. Market knowledge, feelings and the rest are a byproduct. In my personal experience, I figured out that a demo account should be used to boost ones confidence. To confirm the trader that he understands and that he is in...
I understand Mohan started this account and thread only for learning / testing purpose.
The Thief of Wall Street
  • #27
  • Oct 29, 2013 11:37pm Oct 29, 2013 11:37pm
Quoting Acroix70
{quote} The summary of all Chickys posting, bullshit
Not all ................. I try to keep a fine balance of 90% and 10%.
For those who have yet to read my posts, 10% is the useful stuff, don't get misguided
The Thief of Wall Street
  • #28
  • Oct 30, 2013 2:25am Oct 30, 2013 2:25am
Quoting BooG
Hi! Your little project seems interesting. But, beware, the most valuable asset of living beings is time. So be careful what you get in exchange for it. If you intend to change from trading demo to real, this is, in my opinion, a wrong step. We trade in order to make money. As much as possible within a time frame and a risk scheme. Market knowledge, feelings and the rest are a byproduct. In my personal experience, I figured out that a demo account should be used to boost ones confidence. To confirm the trader that he understands and that he is in...
welcome to my little thread ,
Quote
1. But, beware, the most valuable asset of living beings is time. So be careful what you get in exchange for it
in exchange it will give knowledge of market , how to (not to) trade

Quote
2, I figured out that a demo account should be used to boost ones confidence
i have little different view , confident grown with demo could disappear once we hit few s/l , nano have account little better than demo but nowhere close to full scale trading environment
Mohan
  • #29
  • Oct 30, 2013 4:00am Oct 30, 2013 4:00am
Congratulations on the winning streak!Good job!


Quoting mohan76
in exchange it will give knowledge of market , how to (not to) trade.
i have little different view , confident grown with demo could disappear once we hit few s/l , nano have account little better than demo but nowhere close to full scale trading environment
Every trade is unique, however, the market dose the same thing, again and again. Once you embrace the idea that 6-4 win ratio is enough, the pain of a few s/l dissapears. For me the demo account says : dude, right now you move/don't move like the market. Make some real money!/ Go away! Most of my biggest gains were on positions that I thought would go 10-20 pips but ended in 100-150.
I assume that your trading method will not change drastically over the next year, the trendlines/indis/sma/etc will be the same. But you will see them differently, through the scope of confidence. Do you think dedicating 1 year for that is the best choice?

Tricky question: If you manage to get this account to $100, will you have the confidence to trade with $10k account?
  • #30
  • Oct 31, 2013 6:39am Oct 31, 2013 6:39am
end of month ,i am binding book , 10% for this month we could little better next month
Mohan
  • #31
  • Oct 31, 2013 7:48am Oct 31, 2013 7:48am
Achieving 10% In one month (7 days) is a very excellent result, congratulations.

I can only wish you to be as good in the following months as you have been now.

Simplicity is the Ultimate Sophistication.
  • #32
  • Nov 1, 2013 5:04am Nov 1, 2013 5:04am
small mistake , forgot to set s/l on my tiny eu long , now i am macro managing it
Mohan
  • #33
  • Nov 1, 2013 5:33am Nov 1, 2013 5:33am
What do you mean by macro managing it ? Beware to not enter in hope mode.

The best action is to immediately close your position. Don't let a small loss become a big one.

EU seems now have entered a medium term down trend. If I were you I would close it immediately.
Simplicity is the Ultimate Sophistication.
  • #34
  • Edited 6:05am Nov 1, 2013 5:53am | Edited 6:05am
Quoting broketrader
What do you mean by macro managing it ? Beware to not enter in hope mode. The best action is to immediately close your position. Don't let a small loss become a big one. EU seems now have entered a medium term down trend. If I were you I would close it immediately.
i know hope is account killer

i will kill it if it go bellow 1.35 , having trouble setting s/l from android keeping my eye on 3509

edit: s/l 3518 approx 3%
Mohan
  • #35
  • Nov 4, 2013 8:55am Nov 4, 2013 8:55am
lol mohan...
Curiosity drove me here. Good luck with your $1 lottery.
You cannot learn better without losing
  • #36
  • Nov 4, 2013 9:21pm Nov 4, 2013 9:21pm
Quoting forexings
lol mohan... Curiosity drove me here. Good luck with your $1 lottery.
Curiosity is the root cause for all trouble , actually this project is very nice experience , i am slowly learning value of money, once am back in australia i will spend little more time on this project , oanda platform not so great on mobile
Mohan
  • #37
  • Nov 4, 2013 10:29pm Nov 4, 2013 10:29pm
Quoting mohan76
{quote} Curiosity is the root cause for all trouble , actually this project is very nice experience , i am slowly learning value of money, once am back in australia i will spend little more time on this project , oanda platform not so great on mobile
Its fun to see people succeed, keep your account alive and happy with pips

Thanks for this great thread
  • #38
  • Nov 5, 2013 1:30am Nov 5, 2013 1:30am
Hey Mohan,

Very nice thread. Subscribed
  • #39
  • Nov 5, 2013 1:40am Nov 5, 2013 1:40am
Good thread.

No one should be losing any more than 100 US dollars on a trading strategy when the opportunity exists to test your strategy in real time on 100 cents. The paradigm of greed and fear will most likely not allow this powerful thread to forward, but I have my hopes!
If you are good at something, never do it for free--Joker
  • #40
  • Nov 6, 2013 8:10am Nov 6, 2013 8:10am
Hi all

Great idea mohan

Wanted to as what lot size you trading?Is it 0.001 or what?

Good luck I wish you the best
We miss 100% of the shots we don't take
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