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As simple as possible: 00 level trading

  • #9,801
  • Jul 11, 2014 3:21am Jul 11, 2014 3:21am
Quoting Udine
{quote} great trading.. "I noticed, that it can definitely be funny to miss a lot of positive trades, if you are sure that this strategy works" it really is Udine
thank you for comment.
  • #9,802
  • Jul 11, 2014 3:24am Jul 11, 2014 3:24am
Quoting Lrt.Ita
Even if I'm in demo I am forcing myself to think as if these are real money while I see a lot of people here overtrading just because without real money it isn't economically dangerous. I think that the most important part of myself to train is my mentality and approach, if I would be trading every opportunity maybe sometimes it will be a great daily gain, but being used to do a lot of trades in a day I'm sure I won't be able to stop after the second, third or fourth loss of a bad day, (as happened months ago when I blew up a little live account)....

Sleep less, live fast, as it aint gonna last
  • #9,803
  • Jul 11, 2014 3:26am Jul 11, 2014 3:26am
Quoting Lrt.Ita
Even if I'm in demo I am forcing myself to think as if these are real money while I see a lot of people here overtrading just because without real money it isn't economically dangerous. I think that the most important part of myself to train is my mentality and approach, if I would be trading every opportunity maybe sometimes it will be a great daily gain, but being used to do a lot of trades in a day I'm sure I won't be able to stop after the second, third or fourth loss of a bad day, (as happened months ago when I blew up a little live account)....

lrt... respect for what you said above and everyone is different..
however I think trading a small live account as little as ($300) doing micro lots is more effective than demo, IMHO.

like I said everyone is different.. guy like me needs to feel the pressure in the bones.
Passion, Persist, Patience, Protect
  • #9,804
  • Jul 11, 2014 3:31am Jul 11, 2014 3:31am
Quoting FXEmpire
{quote} lrt... respect for what you said above and everyone is different.. however I think trading a small live account as little as ($300) doing micro lots is more effective than demo, IMHO. like I said everyone is different.. guy like me needs to feel the pressure in the bones.
I agree.
  • #9,805
  • Jul 11, 2014 3:31am Jul 11, 2014 3:31am
Quoting flash4
{quote} thank you, i appreciate it very much
No problem at all.

Masterrmind...........
Master your Mind then Master your Trades
  • #9,806
  • Jul 11, 2014 3:33am Jul 11, 2014 3:33am
Quoting FXEmpire
{quote} lrt... respect for what you said above and everyone is different.. however I think trading a small live account as little as ($300) doing micro lots is more effective than demo, IMHO. like I said everyone is different.. guy like me needs to feel the pressure in the bones.
I couldn't agree more with you on this FXEmpire!

Use a demo to learn and get familiar with the software.

Trade a live account (be it a small one) as it's the best way to learn because you will learn to feel and then control the emotion that comes with live trading.

Masterrmind..........
Master your Mind then Master your Trades
  • #9,807
  • Jul 11, 2014 3:36am Jul 11, 2014 3:36am
First day trading this system live. I had 2 trades: EURUSD - 5 (should have held longer 10 stop was not hit) AUDUSD +5
I hope to do better next week. I hope everyone has a good weekend.
Know your edge and trade within it
  • #9,808
  • Jul 11, 2014 3:44am Jul 11, 2014 3:44am
ok guys i am out.. feel the need, need to hit some serious balls, lol.. that's tennis balls, don't get any wrong ideas now

I have settled my heart and soul fully on fifo now.. any day during the last couple of weeks that i stuck to fifo, I made over 2%.. so I can confidently say, is the way to go IF you don't treat it recklessly and use some commonsense and be satisfied and humble with plotting daily goal and preserving it.
just some humble words from a student.

enjoy your weekend everyone

Mr. Udine respect and thanks.
Passion, Persist, Patience, Protect
  • #9,809
  • Jul 11, 2014 3:50am Jul 11, 2014 3:50am
back from psychoanalysis.

EJ TSed +0.5 pips

Now I'll do the reading. Your posts are very informative!
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My hope has been almost completely shattered, but not completely yet
  • #9,810
  • Jul 11, 2014 3:51am Jul 11, 2014 3:51am
EJ and GJ SL. It seems to me like scattershot.
It 'the same
  • #9,811
  • Jul 11, 2014 3:52am Jul 11, 2014 3:52am
orders triggered:
EJ sell @ 137.800
EA sell @ 1.44700

if it's black friday for me, they will definitely hit SL
  • #9,812
  • Jul 11, 2014 3:54am Jul 11, 2014 3:54am
Quoting Masterrmind
.... Use a demo to learn and get familiar with the software. Trade a live account (be it a small one) as it's the best way to learn because you will learn to feel and then control the emotion that comes with live trading. Masterrmind..........
Agree. Not to mention a live account may show some (negative?) difference in trade execution performance (timing, slippage, etc.) that is good to learn about as well.
Áron

psedit: sayin' all this while being on a demo. still learning the system itself
  • #9,813
  • Jul 11, 2014 3:55am Jul 11, 2014 3:55am
To FXEmpire and Masterrmind,

Thanks for the suggestion, appreciated. I'm planning to open a little live account in September if I'll be able to mantain positive results during the current month and to be at least neutral (trading every day) in August that seems to be the worst month of the year for trading, with flat markets and very little liquidity.

By the way, if I see my results increase in a really fast way I will switch to live earlier.. Let's see

Lrt
"Every battle is won before it's fought."
  • #9,814
  • Jul 11, 2014 4:03am Jul 11, 2014 4:03am
Quoting FXEmpire
{quote} lrt... respect for what you said above and everyone is different.. however I think trading a small live account as little as ($300) doing micro lots is more effective than demo, IMHO. like I said everyone is different.. guy like me needs to feel the pressure in the bones.

ok here my 2 cents..

I dont agree...

why?

1. demo trading will help you to train the PDF and BCC part of trading
2. on demo its better to do that than live, because with live trading you add the stress of your money being on the line
3. after the demo, when you have the PDF & BCC, you go to a live account
4. here you trade the smallest lotsize to keep the PDF & BCC but with the added stress of trading real money
5. when you are consistent with the smallest lotsize then you start to trade with regular lotsizes


its better to take babysteps forward, then rushing in and make costly mistakes..

but thats only MHO

Udine
Sleep less, live fast, as it aint gonna last
  • #9,815
  • Jul 11, 2014 4:03am Jul 11, 2014 4:03am
Quoting messiahua
orders triggered: EJ sell @ 137.800 ....
I was eyeing that too, but somehow just felt incomfortable with the whole situation. In first 3 hours of europe it went up 35 pips.
But it'll be okay now seems!
EDIT: or not...
  • #9,816
  • Jul 11, 2014 4:04am Jul 11, 2014 4:04am
Quoting Lrt.Ita
To FXEmpire and Masterrmind, Thanks for the suggestion, appreciated. I'm planning to open a little live account in September if I'll be able to mantain positive results during the current month and to be at least neutral (trading every day) in August that seems to be the worst month of the year for trading, with flat markets and very little liquidity. By the way, if I see my results increase in a really fast way I will switch to live earlier.. Let's see Lrt
Simply offering you advise but what you do is totally your own decision.

You need to convince yourself what is the best way to go based on everything you have heard, read and understood.

Masterrmind...........
Master your Mind then Master your Trades
  • #9,817
  • Jul 11, 2014 4:08am Jul 11, 2014 4:08am
Quoting messiahua
orders triggered: EJ sell @ 137.800 EA sell @ 1.44700 if it's black friday for me, they will definitely hit SL
Now now come on...... you need to be positive.....

Success will come.

Masterrmind.............
Master your Mind then Master your Trades
  • #9,818
  • Jul 11, 2014 4:08am Jul 11, 2014 4:08am
GBPUSD SL -10 2nd one for the day
Attached Image
Lets WUKAR FIFO!! - Udine
  • #9,819
  • Jul 11, 2014 4:14am Jul 11, 2014 4:14am
Quoting GoldCoastFX
GBPUSD SL -10 2nd one for the day {image}
i think you disrespect rule nr.15 and 16
should be a +5 win or at worst a TS
  • #9,820
  • Jul 11, 2014 4:15am Jul 11, 2014 4:15am
Bonus Trade

#6

GJ +5 TP

Attached Image (click to enlarge)
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Masterrmind............
Master your Mind then Master your Trades
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