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DEMOlympics for 2014

  • #281
  • Feb 21, 2014 10:55am Feb 21, 2014 10:55am
Either gonna bring me closer quite quickly - or leave me behind.
  • #282
  • Feb 21, 2014 11:03am Feb 21, 2014 11:03am
Quoting kuroro001
{quote} You haven't....you have to create a new demo account. The one you got is old and live.
Hi,

How can a live account not be more relevant than a demo account? But anyway...I've been away for a week...is it too late to enter?
  • #283
  • Edited 11:50am Feb 21, 2014 11:37am | Edited 11:50am
Quoting kanikuly
{quote} Also taking a short scalp from 141.134. s/l at 141.230 and t/p at 140.890.
Hit target, I'm out that was the last trade for this week.
  • #284
  • Feb 21, 2014 11:59am Feb 21, 2014 11:59am
Quoting Pooler
{quote} Hi, How can a live account not be more relevant than a demo account? But anyway...I've been away for a week...is it too late to enter?
Sir,

Are you serious?

Live accounts have zero relevance here. If your demo was created between 10 and 13 Feb - you are most welcome.

Otherwise no.
  • #285
  • Feb 21, 2014 8:10pm Feb 21, 2014 8:10pm
Sir TauTrader, I believe my initial post may have been overlooked. Would you be so kind to add me to the list in your initial post?

Quoting Kaplan
Good day. New trader here who is interested to join. Been reading quite a lot on FF and the DEMOlympics thread made me decide to register. I would regard it a good opportunity to learn and develop, and hopefully return the favor at some point soon as well. Started of with scalping but have moved to 4H and D1, the lesser demand on screentime is a big plus. So far been looking at GBP/USD, and major XXX/JPY pairs. They're not easy but the volatility is interesting. Trade Explorer link is http://www.forexfactory.com/kaplan#46.
"The Earth has Music for those who listen."
  • #286
  • Feb 22, 2014 1:43am Feb 22, 2014 1:43am
Quoting JimmyC
{quote} GU Short - stopped because of support bounce EU short - stopped because of support bounce AU short - bad entry stopped with moderate loss Gold - Long stopped demo / bad entry small profit live account holding for 1350 I posted a gold short but used the target as long entry (it was a support)
Ok, so quick review. Positions in major pairs were ok. Need to change leverage to get more account appropriate losses and profits.
4% objective in place.
Risk control adequate
No losses exceeding 2%
Max drawdown acceptable.
Only one discretionary trade - bad boy, would have been given a warning for that (50 % probability)
ranging and trending market strategies working.
market conditions are quite difficult, needing to use less frequently encountered consolidation patterns.

Anybody else want to share the week past?

I think its healthy to review performance and share what worked and what bombed.

the most important skill in trading is experience

Trading is hard and we like it that way or anyone could do it and there would be no money in it for us

Looking forward to some shares
  • #287
  • Feb 23, 2014 10:53am Feb 23, 2014 10:53am
Being new to FX my objective during this endeavour is developing necessary technical skill set and understanding of market mechanisms but most of all growth in discipline and control of emotions.

I am content so far with my about entry/exit strategy. Few trades stopped out after moving SL to BE, need to analyze further if this can be reduced by changing timing of entry or timing of moving SL to BE. Exit needs further improvement, few trades closed rather early (manually) where market continued further to hit initial TP.

Limiting # of trades to only those with high(er) probability according to strategy is turning out to be a challenge between 'reduction of risk' and wanting to be 'in the market'. I have indeed reduced the number of trades during past week and have slightly increased lot size when taking a position as a trade off. While this may not greatly contribute to the reduction of risk it is providing mental balance and given the results to date I consider this a step forwards.

Past week has been positive, look forward to this week. I am expecting a bounce for GU at 1.653x, which is 50% of recent uptrend and will be area of the 200EMA on H4. Still undecided on how to handle my open positions if bounce does happen, (partial) close/hedge or nothing.
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"The Earth has Music for those who listen."
  • #288
  • Feb 24, 2014 12:36am Feb 24, 2014 12:36am
Quoting JimmyC
{quote} Anybody else want to share the week past? I think its healthy to review performance and share what worked and what bombed. the most important skill in trading is experience Trading is hard and we like it that way or anyone could do it and there would be no money in it for us Looking forward to some shares
Hi Jimmy-

I trade USD, EUR, GBP, JPY, AUD, NZD in all their combinations (Total of 15 pairs)

I mostly use H4 charts, but keep an eye on larger and smaller time frames as well.
I look for area's where price might reverse or retrace on my charts. I don't use indicators just a combination of price action strategies that I have built up over the years. I am definitely still learning though.

This past week started poorly with my account down over 10%. This was simply due to over-leveraging. After a few trades I reduced my lot size right down and managed to get my head above water by the end of the week. Currently up about 2%. I don't have a weekly or monthly goal- just whatever the market will give me

I find it interesting looking at everyone's Trade Explorer's. Everyone trades in a different way. I hope to learn new ways of trading that I can incorporate into my live trading as I participate in this competition. Thanks to Tau Trader for setting it up. Cheers-
  • #289
  • Feb 24, 2014 12:55am Feb 24, 2014 12:55am
Quoting fuse
{quote} Hi Jimmy- I trade USD, EUR, GBP, JPY, AUD, NZD in all their combinations (Total of 15 pairs) I mostly use H4 charts, but keep an eye on larger and smaller time frames as well. I look for area's where price might reverse or retrace on my charts. I don't use indicators just a combination of price action strategies that I have built up over the years. I am definitely still learning though. This past week started poorly with my account down over 10%. This was simply due to over-leveraging. After a few trades I reduced my lot size right down...
  • #290
  • Feb 24, 2014 12:55am Feb 24, 2014 12:55am
Quoting Kaplan
Being new to FX my objective during this endeavour is developing necessary technical skill set and understanding of market mechanisms but most of all growth in discipline and control of emotions. I am content so far with my about entry/exit strategy. Few trades stopped out after moving SL to BE, need to analyze further if this can be reduced by changing timing of entry or timing of moving SL to BE. Exit needs further improvement, few trades closed rather early (manually) where market continued further to hit initial TP. Limiting # of trades to only...
  • #291
  • Feb 24, 2014 1:15am Feb 24, 2014 1:15am
Markets open for the week, just waking up after the Asia session begins to cool off and:

  1. Asian markets have started the week showing some signs of weakness
  2. The US came off session highs going into the close and consolidation is holding below the critical 1850/1846 resistance. These levels will be critical for the week ahead to show general direction.
  3. FTSE called down (its challenging resistance at 6840)
  4. DAX up +.61% and Euro Stox +.051

I think that sentiment is shifting in the short term

Events

German Ifo EUR news the only major news event last 110.6 expect 110.7

Control your risk and position size

Trade safe

G/L

  • #292
  • Feb 24, 2014 5:30am Feb 24, 2014 5:30am
Quoting Kaplan
Sir TauTrader, I believe my initial post may have been overlooked. Would you be so kind to add me to the list in your initial post? {quote}
Sir,

My apology.

You have now been included. I checked your explorer and the creation date is valid.

Welcome

Regards
  • #293
  • Feb 24, 2014 5:51am Feb 24, 2014 5:51am
Sir Capelli

I cannot find your explorer created between 10 Feb and 13 Feb 2014.

Can you assist?

Regards
  • #294
  • Feb 24, 2014 7:29am Feb 24, 2014 7:29am
EU

200sma approach on 1H TF
Watch PA...
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  • #295
  • Feb 24, 2014 11:02am Feb 24, 2014 11:02am
Hey Tau,

I see you are trading the EUR/USD a lot, could you share your thoughts on this pair?

In the last weeks it has been very quiet, no real trend identifiable and somewhat boring... Do you just scalp it based on price action?

I'm just curious
  • #296
  • Feb 24, 2014 11:04am Feb 24, 2014 11:04am
The death of the dollar....???

$SPX 500

Record highs in progress

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Think the analysts are going to eat their words, dunno, early days
$DX
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  • #297
  • Feb 24, 2014 11:07am Feb 24, 2014 11:07am
Quoting TauTrader
Sir Capelli I cannot find your explorer created between 10 Feb and 13 Feb 2014. Can you assist? Regards
I have deleted it by mistake and Im now trying to reconnect it but it doesnt work. I think there is something with the server, it should be able to connect after other trial
  • #298
  • Feb 24, 2014 11:13am Feb 24, 2014 11:13am
Quoting Capelli
{quote} I have deleted it by mistake and Im now trying to reconnect it but it doesnt work. I think there is something with the server, it should be able to connect after other trial
http://www.forexfactory.com/capelli#22
  • #299
  • Feb 24, 2014 11:22am Feb 24, 2014 11:22am
Quoting Capelli
{quote} http://www.forexfactory.com/capelli#22
Seems perfectly in order - thank you sir!

All the best
  • #300
  • Feb 24, 2014 2:23pm Feb 24, 2014 2:23pm
Quoting kanikuly
Hey Tau, I see you are trading the EUR/USD a lot, could you share your thoughts on this pair? In the last weeks it has been very quiet, no real trend identifiable and somewhat boring... Do you just scalp it based on price action? I'm just curious
Good day to you, Sir

Just scalping at this point. Long term view is lower. All indicator based scalps

All success

Regards
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