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When to go live

  • #1
  • First Post: Aug 4, 2014 2:50pm Aug 4, 2014 2:50pm
Hi everyone,

I've been testing diferent strategies, timeframes, indicatores, etc after a fine tune, in the last weeks iīve got these results attached.

The main focus is getting wins and pips and not focusing yet on profit value

When should i go live?

Feel free to comment, thank you.

All the best
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  • #2
  • Aug 4, 2014 3:05pm Aug 4, 2014 3:05pm
when you learn about support & resistance tied in with VOLUME or OBV, it would make your life a lot easier
Learn, a forex trader must, unlearn and relearn he will.
  • #3
  • Aug 4, 2014 3:34pm Aug 4, 2014 3:34pm
COGSx86 Thank you so much that's correct and i felt in the last trades that's channels, suport resistance made my trades better.
  • #4
  • Aug 4, 2014 7:33pm Aug 4, 2014 7:33pm
Results are OK so try it in cash to see if you can hold a trade for a few days like you've been.
There's only 1 way to find out.
Good luck.
  • #5
  • Aug 5, 2014 4:47am Aug 5, 2014 4:47am
Srt thank you maybe in a week or. So i'll go swim with the sharks hold a trade to cash in more pips is impirtant. Normally i get out of trade even if the trend is there, because i set an amount of pips to win and if i hit them i'll stop the trade.
  • #6
  • Aug 5, 2014 5:02am Aug 5, 2014 5:02am
August 27
H.D
  • #7
  • Aug 5, 2014 7:51am Aug 5, 2014 7:51am
The only way to really know is to test your confidence in your strategies and jump in. It's what goes on between the ears initially that will be the challenge, getting used to the fact that it is all for real, but remember, the trade is the same so follow your practises. Enjoy.
  • #8
  • Aug 5, 2014 8:29am Aug 5, 2014 8:29am
Thank you Greeny, understanding confidence and emotional balance in live trading is the "last barrier" for me...special in loss management.
  • #9
  • Aug 5, 2014 9:12am Aug 5, 2014 9:12am
after reviewing your trading results, I think you should look into trading binary options, considering most positions are 20-50 minutes in duration

your returns would be much better,
Learn, a forex trader must, unlearn and relearn he will.
  • #10
  • Aug 5, 2014 9:27am Aug 5, 2014 9:27am
Thank you COGSx86 the only question is - FX indicators can be applied? and im not acquainted to binary (have study them) and i guess it will take some time.

But i'll research on it and give it a try as long as i ve know them better.
  • #11
  • Aug 5, 2014 9:30am Aug 5, 2014 9:30am
Quoting pzr
Thank you COGSx86 the only question is - FX indicators can be applied? and im not acquainted to binary (have study them) and i guess it will take some time. But i'll research on it and give it a try as long as i ve know them better.

Fx indicators can be applied,

binary options are traded through web platforms, so whatever setup you have on Mt4 or whatever trading program you have, it wont affect your trading,

just make sure you find a good broker,

here is a forum for Binary traders, the mods have reviewed a few good brokers

http://forums.binaryoptionsthatsuck.com/forum.php
Learn, a forex trader must, unlearn and relearn he will.
  • #12
  • Aug 6, 2014 3:54am Aug 6, 2014 3:54am
When you feel comfortable, of course. Know, though, when to balance the excitement against the feeling that you have enough knowledge to begin making it.
  • #13
  • Aug 6, 2014 5:35am Aug 6, 2014 5:35am
Thank you COGSx86 i'll check it and give it a try for sure

Thank you jotekfinance i always try to keep "cool" when trading maybe itīs more difficult to do it in a live platform but i'll do my best to keep in mind "follow the trend not my emotions"...

Today i'm setting a live account
  • #14
  • Aug 7, 2014 4:20am Aug 7, 2014 4:20am
best of luck with your live account, just remember this, START SMALL! give your live trading a couple of months on micro, live water are different from demo, its more volitile and divers and its like sailing through the bermuda, you will never know when shit happens, so keep a micro small account play with it for a couple of months, no big profits no big loses just to get used to live trading then when you are comfortable then jump ahead with an investment you dont mind losing best wishes
  • #15
  • Aug 7, 2014 5:13am Aug 7, 2014 5:13am
I would suggest demo trading for at least 3 months and have enough sample size to evaluate your trades. 50 or more.

If you're profitable after 50 trades, then you could possibly make money live.

Then fund a live account with half your intended risk capital. If you intend to fund with 1k, reduce it to 500 instead.

If you can make money with that 500, you may considering risking the remaining 500.

This way, if you blow up it was only half your intended risk capital.

Hope that helps!
  • #16
  • Aug 7, 2014 10:33am Aug 7, 2014 10:33am
Thank you Jigzz my intention is for at least 3-6 months justo micro...but i feel that live is really different market/ broker seems to move different...and freezzing platform "just happens" i m just watching and dfining settings maybe in the next couple of weeks i'll dive in to it....


Twr thank you i'll do the 50/50start investment i keep being profitable after around 50 trades so its a minimum level of confidence for me
  • #17
  • Aug 24, 2014 2:10pm Aug 24, 2014 2:10pm
before you use your own money to go live open a No Deposit bonus account with a good broker and try your system out on live money and if you are profitable add some little to the account. its the safest way to start forex trading
  • #18
  • Aug 25, 2014 3:46am Aug 25, 2014 3:46am
Quoting pzr
Thank you Jigzz my intention is for at least 3-6 months justo micro...but i feel that live is really different market/ broker seems to move different...and freezzing platform "just happens" i m just watching and dfining settings maybe in the next couple of weeks i'll dive in to it.... Twr thank you i'll do the 50/50start investment i keep being profitable after around 50 trades so its a minimum level of confidence for me

nice, best of luck to you, it is a bit different, you are on the right path 6 months of micro just to see how the live market flows then you'll be used to it in no time
  • #19
  • Aug 25, 2014 1:54pm Aug 25, 2014 1:54pm
hi,

before going live i just wanted to test in demo account bigger lots that's the result atached. i really need to have a disciplined money management but bigger lots seems an oasis maybe an ilusion.....
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  • #20
  • Aug 25, 2014 9:38pm Aug 25, 2014 9:38pm
Demo is no different than Live. Always use the "same amount of money you'd in live" . You are planing to open a $10K live account, first open a $10K demo account and trade couple of months. If you demo with $10K account and then open a $1K live account, you'll lose! Money management/leverage/return/risk etc will be way different. And in forex, it's 50% money management.
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