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As simple as possible: 00 level trading

  • #12,821
  • Jul 23, 2014 9:09am Jul 23, 2014 9:09am
EURUSD
Second TL
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  • #12,822
  • Jul 23, 2014 9:15am Jul 23, 2014 9:15am
I trade live using Sonic R, but now I lack of time to find set-ups.
This system is great which consumes less time and fits my schedule.
But I'm demo-ing this just that in order for me to brain in those rules. Practice makes perfect.
I always did mistake now for example trade in 1hour prior to news etc.

-AdrianC.
  • #12,823
  • Jul 23, 2014 9:15am Jul 23, 2014 9:15am
EJ > SL

Trading live

today 3 wins / 1 loss
  • #12,824
  • Jul 23, 2014 9:18am Jul 23, 2014 9:18am
Quoting driven18
Outside of Udine, 95% of you do not trade Live. Live trading is totally different ball game, especially if you want to live off Forex. Divide your profits, multiple your wins by at least 30 - 40%. Just be prepared for the whole different ball game.
Is that statement related to your personal experience or is there a proven stat that shows that thing?
The difference of result that you are writing about does depend on the MENTAL APPROACH or on a difference in the mechanics of the game (broker behaviour etc)?
I feel what you wrote here to be a little in contrast with all that i have seen since now, as a demoTP is equal to a liveTP, and a demoSL is equal to a liveSL.
I really don't get why a mentally trained trader who is gettin some results on demo chosing wisely when and where to shoot as if he is in live, will obtain the 70% less with real money.

I'll be grateful if you explain me that thing.

Lrt
"Every battle is won before it's fought."
  • #12,825
  • Edited 9:56am Jul 23, 2014 9:18am | Edited 9:56am
Quoting Goodgame42
{quote} You are compairing 2 things totally differents, 5 pips and 100pips As Udine, I need less than 0.5% to live comfortably. If you are a real trader you know what is your leverage, right ? What is it ? I trade for a long time ago and I can tell you than 99% of all traders I known are not trading nowadays, really. Why ? Because they traded with a too high leverage, if you want to trade for long and live with trading you must have a leverage around 1 or 2, not more. I see a lot of traders with a return about 100% of their bankroll each month...
Nope....comparison is valid !

A trader either trades 5 pips representing a risk of 2% to his/her equity or they trade 100 pips at a risk of 2% equity.

I'm saying that I would rather risk 2% equity to gain 1% profit over 5 pips than the same ratio over 100 pips.

As for getting wiped out.... that sounds like very poor risk management or more likely trading stocks.

Hope that's clear.

ps. The 5 pip Vs the 100 pip is simply an example to illustrate what I'm talking about. I'm not saying it necessarily suits everyone but it sure suits me.

Masterrmind.......
Master your Mind then Master your Trades
  • #12,826
  • Jul 23, 2014 9:19am Jul 23, 2014 9:19am
Quoting AdrianC
I trade live using Sonic R, but now I lack of time to find set-ups. This system is great which consumes less time and fits my schedule. But I'm demo-ing this just that in order for me to brain in those rules. Practice makes perfect. I always did mistake now for example trade in 1hour prior to news etc. -AdrianC.
What news? There is no news in red.
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  • #12,827
  • Jul 23, 2014 9:21am Jul 23, 2014 9:21am
Quoting Udine
{quote} man I am happy for you and if your trading style works for you even better !! As I have said from the beginning it must fit your personality or it wont work... and as soon as you find a way that fits your personality.. stick to it ... and dont kill the golden goose I also have mentioned in this thread a few times, that as soon as I reach my next milestone, I will reduce risk %, leverage and TP... why should I risk my money, if all I need is less... so if i risk less and getting the same results, I am even a happier camper Udine
The basic thing that is missing from the discussion is that with more money you simply take on LESS risk to bring home the same amount of profit!

2.00% of 50,000 = 1000
1.33% of 75,000 = 1000
1.00% of 100,000 = 1000

As available equity increases the risk decreases for a given profit amount!

Masterrmind..........
Master your Mind then Master your Trades
  • #12,828
  • Jul 23, 2014 9:31am Jul 23, 2014 9:31am
Quoting Goodgame42
I don't know if there are french people here, they will understand what I mean else go to google traduction 108pips in less than 4h, if I'm able to do that, you also can ! So work hard, play hard ! Good luck to all ! {image} {image} {image}
You are wrong. GU trade is 4,2 in profit not 42,99
  • #12,829
  • Jul 23, 2014 9:34am Jul 23, 2014 9:34am
Quoting Lrt.Ita
{quote} Is that statement related to your personal experience or is there a proven stat that shows that thing? The difference of result that you are writing about does depend on the MENTAL APPROACH or on a difference in the mechanics of the game (broker behaviour etc)? I feel what you wrote here to be a little in contrast with all that i have seen since now, as a demoTP is equal to a liveTP, and a demoSL is equal to a liveSL. I really don't get why a mentally trained trader who is gettin some results on demo chosing wisely when and where to shoot...
Lrt.Ita, I am trading Live and been doing it for the last 2 years, so speaking from experience.

I am being very generous when I say 30-40% difference.

Just because you have asked, I am going to give you only one and basic point on it.

Once you get into the rut, i e few days of losses, the hole is so very very deep to come out off, 90% of the traders switching to Live trading will never come out.
  • #12,830
  • Jul 23, 2014 9:36am Jul 23, 2014 9:36am
Quoting Masterrmind
{quote} The basic thing that is missing from the discussion is that with more money you simply take on LESS risk to bring home the same amount of profit! 2.00% of 50,000 = 1000 1.33% of 75,000 = 1000 1.00% of 100,000 = 1000 As available equity increases the risk decreases for a given profit amount! Masterrmind..........

that is exctly what I was trying to say....

Udine
Sleep less, live fast, as it aint gonna last
  • #12,831
  • Jul 23, 2014 9:37am Jul 23, 2014 9:37am
Quoting iwan73
{quote} You are wrong. GU trade is 4,2 in profit not 42,99
No because I take a size of 100 000 units, that is to say 10 positions of standard lot: 10 000 so I take 10 times 4.29 pips.
Regards.
Trade Safe !
  • #12,832
  • Jul 23, 2014 9:39am Jul 23, 2014 9:39am
Quoting Udine
{quote} that is exctly what I was trying to say.... Udine
I know Udine....... it wasn't really intended for you but for the benefit of others as I know you are well and truly all over this fact.

I hope the example helps someone (just 1 person and I'll be very happy)

Haha!

Masterrmind...........
Master your Mind then Master your Trades
  • #12,833
  • Jul 23, 2014 9:43am Jul 23, 2014 9:43am
Quoting Goodgame42
{quote} No because I take a size of 100 000 units, that is to say 10 positions of standard lot: 10 000 so I take 10 times 4.29 pips. Regards.
I understand your point of view, but for me it is 4,2 pips gain.
If you opened 10 times bigger possision you gained 10 times more money but it i still 4,2 pips.
  • #12,834
  • Jul 23, 2014 9:46am Jul 23, 2014 9:46am
Quoting Masterrmind
{quote} Nope....comparison is valid ! A trader either trades 5 pips representing a risk of 2% to his/her equity or they trade 100 pips at a risk of 2% equity. I'm saying that I would rather risk 2% equity to gain 1% profit over 5 pips than the same ratio over 100 pips. As for getting wiped out.... that sounds like very poor risk management or more likely trading stocks. Hope that's clear. ps. The 5 pip Vs the 100 pip is simply an example to illustrate what I'm talking about. I'm not saying it necessarily suits everyone but it sure suits me. Masterrmind.......
That you didn't understand is that I don't need 100pips a day, it's only bonus !
The only problem that you will have is that 1 day you will have a row of losses, maybe a flash crash, your STOP LOSS won't be executed, you have to understand it !
You thought you are protected but make sure that when it will happen your 10 pips SL will be 100-200 pips SL with slippage !
Trade Safe !
  • #12,835
  • Jul 23, 2014 9:47am Jul 23, 2014 9:47am
Quoting iwan73
{quote} I understand your point of view, but for me it is 4,2 pips gain. If you opened 10 times bigger possision you gained 10 times more money but it i still 4,2 pips.
Yeah I see what you mean but if you win 10 times 50$ is not the same that 500$ friend ;-)
Trade Safe !
  • #12,836
  • Jul 23, 2014 9:56am Jul 23, 2014 9:56am
Quoting Goodgame42
{quote} Yeah I see what you mean but if you win 10 times 50$ is not the same that 500$ friend ;-)

I agree with you dollar wise, but if you trade
0.01 lot = 4.2 pips
0.10 lots = 4.2 pips
1.00 lot = 4.2 pips
10 lots = 4.2 pips
100 lots = 4.2 pips

only the dollar amount differs...

if you say:
1 lot = 4.2 pips and 100 lots = 420 pips

in my book that is creative bookkeeping

cheers

Udine
Sleep less, live fast, as it aint gonna last
  • #12,837
  • Jul 23, 2014 10:01am Jul 23, 2014 10:01am
EURCAD Trailing Stop
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  • #12,838
  • Jul 23, 2014 10:02am Jul 23, 2014 10:02am
Quoting Udine
{quote} I agree with you dollar wise, but if you trade 0.01 lot = 4.2 pips 0.10 lots = 4.2 pips 1.00 lot = 4.2 pips 10 lots = 4.2 pips 100 lots = 4.2 pips only the dollar amount differs... if you say: 1 lot = 4.2 pips and 100 lots = 420 pips in my book that is creative bookkeeping cheers Udine
Maybe this was meant to be a "creative" debate.........haha

With that I'm off to sleep.

Will not trade Asian session tomorrow...... off for a long day out!

Good Trading!

Masterrmind...........
Master your Mind then Master your Trades
  • #12,839
  • Jul 23, 2014 10:03am Jul 23, 2014 10:03am
Quoting Patron
EURCAD Trailing Stop {image}
EURCAD Take Profit
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  • #12,840
  • Jul 23, 2014 10:05am Jul 23, 2014 10:05am
Quoting Masterrmind
{quote} Maybe this was meant to be a "creative" debate.........haha With that I'm off to sleep. Will not trade Asian session tomorrow...... off for a long day out! Good Trading! Masterrmind...........
ciao
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