Petty $25-Amount spent every week on Smoking Cigarettes | Forex Factory

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Petty $25-Amount spent every week on Smoking Cigarettes

  • #1
  • First Post: Edited Jul 15, 2017 6:09am Apr 13, 2016 7:19am | Edited Jul 15, 2017 6:09am
Hi All ,

I have opened this thread for trying and testing a method that I am trading currently.
Petty Amount. Lets see how this goes. Not that I am looking to do any wonders with this but I am trying to check my trading experience and knowledge and how its works out. The reason for using a live account is that I don't like trading on demo accounts.
As the title suggests this amount is spent almost every week by me on smoking cigarettes as I happen to be a chain smoker.
If and when this account gets margin called then I will fund another $25 , ie, equivalent to another week's cigarette expenses.
I will be keeping track of my trading and there is nothing to teach as I don't have much knowledge in fx trading. I am here to learn.
I have nothing to share with anybody and only my screen observation time is between 4-10 hours daily.
Don't advise me on smoking being a bad habit as I already know that.
I wish all my fellow traders 'green pips.'
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When the going gets tough , the tough get going
  • #2
  • Apr 13, 2016 7:48am Apr 13, 2016 7:48am
I had taken 2 trades yesterday and both were losers. Both the trades had gone green for some time but reversed.
Today I took 2 more trades. GU is closed and EU is open. EU had gone to +30 pips but I am still waiting.
trying to be disciplined and follow my rules. Waiting for either TP or SL zone to close the trade.
When the going gets tough , the tough get going
  • #3
  • Apr 13, 2016 8:04am Apr 13, 2016 8:04am
Quoting Stubborn
I had taken 2 trades yesterday and both were losers. Both the trades had gone green for some time but reversed. Today I took 2 more trades. GU is closed and EU is open. EU had gone to +30 pips but I am still waiting. trying to be disciplined and follow my rules. Waiting for either TP or SL zone to close the trade.
As you continue to trade you will learn a lot about yourself. There is hope about that habit. You will eventually detach yourself from it inwardly because you will be so determined to pinpoint what is causing the destruction to your account. Everything is interrelated. As you learn to detach from temperament, which is a gradual process - do not be discouraged at all - everything is conspiring to teach you and you are your OWN BEST TEACHER - your trading will skyrocket. This will take time. It sounds like you have time to use profitably. Best wishes from Honolulu.
  • #4
  • Apr 13, 2016 8:12am Apr 13, 2016 8:12am
Quoting Greenstar
{quote} As you continue to trade you will learn a lot about yourself. There is hope about that habit. You will eventually detach yourself from it inwardly because you will be so determined to pinpoint what is causing the destruction to your account. Everything is interrelated. As you learn to detach from temperament, which is a gradual process - do not be discouraged at all - everything is conspiring to teach you and you are your OWN BEST TEACHER - your trading will skyrocket. This will take time. It sounds like you have time to use profitably....
Thanks Greenstar. You are very right.
I started with limitless averaging , no stop loss a few years back but it has changed for the better.
Today I use stop loss (mental though) and physically close my position whether in loss , profit or break even depending on situation.
I am working on risk reward ratio of 1:2+ . Winnings percentage of 40%+ will satisfy me.
Lets see how I get along on this changed road.
All the Best to you too.
When the going gets tough , the tough get going
  • #5
  • Apr 13, 2016 8:47am Apr 13, 2016 8:47am
Only $25? Damn! If your a chain smoker, never ever visit Australia! You would be broke before the month ends... More like $25/Day.
  • #6
  • Apr 13, 2016 8:57am Apr 13, 2016 8:57am
Quoting mrhigurashi
Only $25? Damn! If your a chain smoker, never ever visit Australia! You would be broke before the month ends... More like $25/Day.
Well you know that India is a Third world country.
60% of population is near the poverty line.
$25 is like Rs 1500 to Rs Rs 1700.
When the going gets tough , the tough get going
  • #7
  • Apr 13, 2016 9:01am Apr 13, 2016 9:01am
Left my system for 2 mins as there was an earthquake.
When the going gets tough , the tough get going
  • #8
  • Apr 16, 2016 2:56am Apr 16, 2016 2:56am
Quoting Stubborn
{quote} Well you know that India is a Third world country. 60% of population is near the poverty line. $25 is like Rs 1500 to Rs Rs 1700.
Do we have to get a lengthy dissertation on the state of India? Humans being what they are, we would rather hear what you are doing about that state of affairs. Not the almost gleeful resignation which runs counter to the Western mentality.
The road to pipland is arduous and fraught with challenge.
  • #9
  • Apr 16, 2016 3:11am Apr 16, 2016 3:11am
Quoting traider
{quote} Do we have to get a lengthy dissertation on the state of India? Humans being what they are, we would rather hear what you are doing about that state of affairs. Not the almost gleeful resignation which runs counter to the Western mentality.
I understand your emotions.
Don't get me wrong but this is what it is .But I am still proud to be an Indian and am very proud of my country.
Issues are there in every country but that does not mean that one should not love the country.
"Saare jahan se aacha Hindustan hamara"
When the going gets tough , the tough get going
  • #10
  • Apr 16, 2016 5:54am Apr 16, 2016 5:54am
Quoting Stubborn
{quote} I understand your emotions. Don't get me wrong but this is what it is .But I am still proud to be an Indian and am very proud of my country. Issues are there in every country but that does not mean that one should not love the country. "Saare jahan se aacha Hindustan hamara"
This has nothing to do with emotions but reason. If your toilet is running crapper down into your kitchen, you don't go and broadcast it down the street. You do something about it. This country is YOUR responsibility. I get fed up with people, especially from Muslim countries (but it is also something I notice in Indians sometimes) bleating on about the mess in their home countries. You might want to take a leaf from the books of your neighbouring countries like China, Japan and S Korea and get on with sorting yourselves out.
The road to pipland is arduous and fraught with challenge.
  • #11
  • Apr 16, 2016 6:13am Apr 16, 2016 6:13am
Quoting traider
{quote} This has nothing to do with emotions but reason. If your toilet is running crapper down into your kitchen, you don't go and broadcast it down the street. You do something about it. This country is YOUR responsibility. I get fed up with people, especially from Muslim countries (but it is also something I notice in Indians sometimes) bleating on about the mess in their home countries. You might want to take a leaf from the books of your neighbouring countries like China, Japan and S Korea and get on with sorting yourselves out.
acknowledged.
When the going gets tough , the tough get going
  • #12
  • Apr 19, 2016 2:33am Apr 19, 2016 2:33am
I came across your thread ,nice going.
I have a few things, i feel i must say,you are way over leveraged.
And you are trading passively,you said you can get margin called and you can fund new account.
It is just 25 $ i know,but money is money,you passively loose 25 $ ten times you just blew away a whole lot.
I don't know about your trading strategy maybe it depends on high leverage,i just know this much about trading,the next trade is never ever sure enough to bet the farm on it.
Choosing to trade small lots on high leverage account is not a choice a trader has to make its a necessity,anyone who doesn't have trait of keeping risk under control is never going to be a trader.
Simple question to ask yourself is,do you feel the next trade you take can give you loads of cash so you can start trading the right lot size at some distant future,once your account grows after the next trade.
If you feel yes,it is just one time risk why not,i am afraid you are not a going to be a trader 2-3 years down the line.
Anyone who will-fully neglects the fact, that next trade or next 10 trades can as easily destroy your account in case you over leverage,is not ready to be a trader.
Everything else said.
The initiative you have taken is very nice.
Carry on you are doing great.
God bless you.
  • #13
  • Apr 19, 2016 2:49am Apr 19, 2016 2:49am
Quoting 666Doom
I came across your thread ,nice going. I have a few things, i feel i must say,you are way over leveraged. And you are trading passively,you said you can get margin called and you can fund new account. It is just 25 $ i know,but money is money,you passively loose 25 $ ten times you just blew away a whole lot. I don't know about your trading strategy maybe it depends on high leverage,i just know this much about trading,the next trade is never ever sure enough to bet the farm on it. Choosing to trade small lots on high leverage account is not a choice...
Thank you for your very kind words and good wishes and blessings.
The account that is uploaded with my profile is not my only account. This is just a trial of a new strategy and risk tolerance. I expect to see dd or loss of upto 80% at the maximum. It is inspired from the thread "Rags to Riches in 10 or 20 trades". A little variations added to it to suit my style. Its more of a fun/adventure task for me.
On my other accounts I use high leverage no doubt but then my risk:reward ratio is always at least 1:2. for example , on any one trade I am prepared to lose either $30 or win $60+. This is how it goes and there is no change in lots. fixed lot of 0.10.
And good luck with your trading also friend.
When the going gets tough , the tough get going
  • #14
  • Apr 25, 2016 6:02am Apr 25, 2016 6:02am
The market opening today made me see a draw down of over 52% on account balance of $85. Whew.
This comes of up to around $45 unrealized loss. Pathetic.
However the good thing is that my investment is only $25 and any draw down which still has $25 as safe is good enough for me.
Lets see how I go on.
When the going gets tough , the tough get going
  • #15
  • Apr 25, 2016 5:18pm Apr 25, 2016 5:18pm
Quoting Stubborn
The market opening today made me see a draw down of over 52% on account balance of $85. Whew. This comes of up to around $45 unrealized loss. Pathetic. However the good thing is that my investment is only $25 and any draw down which still has $25 as safe is good enough for me. Lets see how I go on.
Man, you are doing great job. Keep it up.
Forex; the game of movements not the game of candles.
  • #16
  • Apr 25, 2016 5:24pm Apr 25, 2016 5:24pm
Quoting Stubborn
Hi All , I have opened this thread for trying and testing a method that I am trading currently. Petty Amount. Lets see how this goes. Not that I am looking to do any wonders with this but I am trying to check my trading experience and knowledge and how its works out. The reason for using a live account is that I don't like trading on demo accounts. As the title suggests this amount is spent almost every week by me on smoking cigarettes as I happen to be a chain smoker. If and when this account gets margin called then I will fund another $25 , ie,...
if you not smoke the week you fund this account,then ı hope it margin call every week
  • #17
  • Apr 25, 2016 6:18pm Apr 25, 2016 6:18pm
Is a great idea to trade trade live using small amount. I think every new trader should do this, you will learn faster

Wish by the time your investing more money into your account you won't get nervous , or over lot trading like this 25$ account .

having huge draw down on an big account you will have a totally different feelings comparing to small account.
  • #18
  • Apr 25, 2016 11:04pm Apr 25, 2016 11:04pm
Quoting sajidkust
{quote} Man, you are doing great job. Keep it up.
Thanks friend. You too are doing great. Keep it up.
When the going gets tough , the tough get going
  • #19
  • Apr 25, 2016 11:27pm Apr 25, 2016 11:27pm
Quoting TwFXtrader
Is a great idea to trade trade live using small amount. I think every new trader should do this, you will learn faster Wish by the time your investing more money into your account you won't get nervous , or over lot trading like this 25$ account . having huge draw down on an big account you will have a totally different feelings comparing to small account.
Thanks for sharing your experience and opinions.
You are doing a wonderful job with your TE uploaded. Keep it up friend.
When the going gets tough , the tough get going
  • #20
  • Apr 26, 2016 11:53am Apr 26, 2016 11:53am
Quoting vasily
{quote} if you not smoke the week you fund this account,then ı hope it margin call every week
I got your message and understand that it is very good for my health.
Thanks mate.
When the going gets tough , the tough get going
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