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Yeah, found that out. My bank I think it costs $20 (in USA, $40 for international). I had to sign some forms and fax them in to the bank with security questions to even setup the ability to wire transfer... it's all done it's just a matter of when and how much I want to fund. I had thought of just putting in 10 cents, to test everything and make sure it is all working but I'm not paying 20$ for it. I'm nowhere near ready to live trade right now anyways, but I'm glad after being turned down twice, someone accepted my application.
"Judge yourself not by the outcome, but by your process."
Can you help answer these questions from other members on NexusFi?
So, haven't posted for a while, been busy trying to learn MetaTrader4 (why is this program so non-intuitive?). found out that autochartist doesn't work when I put in a 25 or so trades that failed horribly. I have been wondering how people's account go bust so quickly, I mean, I've made about 30 or so bad trades (and a few ok ones) and I'm only down $50 on a sim $500. been using the pip caculator at babypips.com and I put my stop amount to be $5.00 and my stop loss to be 50 pips. i hardly use that many pips, my profit targets usually net me around $2 or $3 which I think is decent. I keep forgetting to talk in percents. My profit targets usually net me about 30%. I set limit buys/sells, but they never hit and usually I just buy market after seeing a few strong bull/bear bars, it is frustrating. patterns are never perfect, but near it. I look up something to learn about, and then before I know it, many hours have gone buy. Seems weird that when I draw my own trendlines, and make my own trade they seem to win more than this this autochartist, or perhaps I am using it wrong. Probably that.
"Judge yourself not by the outcome, but by your process."
Still trying to learn to mark up these charts. Due to how many losses I've incurred going for huge (20-30 pips) trades, only to have them reverse right before hitting my target and then to stop me out, Tonight I went for smaller ones. my USD/JPY will hopefully net me 10%, and the HKD/JPY is probably around 12%. The AUD/CAD trade is i think 18%
"Judge yourself not by the outcome, but by your process."
see it makes me think the practice trades (or any trades) are rigged this one went riiiight up to my PT then went down... gah.. perhaps there is hope it will hit, but sure looks like a double top =(
"Judge yourself not by the outcome, but by your process."
Today I had a major breakthrough. I learned to trade ranged market. I made 3 good trades going up and down bouncing off support and resistance. I wasn't using any shares on these well, 10 shares.. the trades weren't even amounting to 1 penny. So... I increased it to 50 shares, and my limit buy was filled, then the market went way down and turned into barbwire. hah ? well I hope it nets me some profit, I won't touch my profit. Oh this is using my live account, I funded it with five dollars, and have been doing horrible, am down .20 cents which is... 4% ? the micro pips do add up though, those 3 winning trades netted me 1 penny.
"Judge yourself not by the outcome, but by your process."
Today I came home and placed 10 trades, in different markets after about 30 minutes of analyzing. 8 of the trades were successful, and I made 3 cents (no one trade was worth a penny, but the micro-cents add up). 2 of the trades went bad, I'm in a really bad trade right now. I will probably loose 1 of my hard earned pennies on it. I fell asleep. I had like 20 orders, and I canceled them all, not realizing I canceled my stop for my last trade going, which I had expected to at least go positive for a brief bit so I could exit my position. Sucks, but I think I am starting to get it, and as long as I can keep from money it feels good. Been more worried about loosing money than making money. Next time I trade (sunday night or monday?") I will increase my share size and see how it goes.
"Judge yourself not by the outcome, but by your process."
Haven't written for a while. Been depressed. The market has been handing my ass to me !! I make many good small trades, then huge loss. Over and over. I have been trying(?) many new strategies as I read about them, just to understand them, I will setup my chart with various BBs/SMA/EMA'S etc and do a trade, find out the system is crap, and loose 1-2% lol. My account is currently down 20%.
A huge problem of mine is not using stop losses. I am paranoid that when I place one, the market will hit it, like it always does then shoot up way beyond my PT. was using buy/sell orders instead, paranoid of market maker ruining my life.
Spend all day yesterday learning to use MT4 - man that thing is beastly!! Programmed a bunch of indicators, backtested a thousand worthless EA's, then found out it will only trade in MICRO-LOTS !!! lol !!! I am at the Nano-lot level, and no where near ready to play around with micro-lots. Spent all night programming the java-website browser trading app to mimic some layouts I had in MT4. Can't do a lot of stuff, it's pretty bare bones.
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Found a new system it seems really good/profitable/working. Most importantly, it fits my hours (not in middle of day while i'm at work) and time I can spend setting it up (very little). Also uses No indicators! Tried it last night and the results will be in tonight, but looks very very promising, my account is up 2% from 3 profiting trades, and 1 that broke even.
Created/printed a simple chart for my new system with 25 main currency pairs, and the amount of lots to trade using a 4% SL. Now that I will be using a consistent percentage amount of my account, I can gather better numbers to see how I am doing.
"Judge yourself not by the outcome, but by your process."
I am very concerned with your post. Well, I mean to say that I think you are still on the wrong path in a big, bad way.
Your post "found a new system it seems really..." and then "tried it last night and looks very promising" is where I take great pause.
This entire part:
Illustrates an enormous problem. And the problem has nothing to do with a system or methodology. So trying to solve the problem with a new system or methodology will never, ever work.
Until you fully understand the problem, you cannot hope to solve it.
I can only encourage you to go thru this entire thread very carefully:
I'm creating this thread with the purpose of a 'catch all' for any trading related question that futures.io (formerly BMT) members want to ask, but don't want to create a new thread for -- or find an existing thread to reply to.
I've …
It should be painfully obvious that you are making a lot of those mistakes. And then hopefully you can come up with ways to measure and find a solution to them -- and it has nothing to do with a "system" or "method" or indicators.
Good job on at least completing a journal. Most people are unable to even do that, so you have that going for you and it is a huge advantage. I'm just trying to help speed up some of the learning curve a bit and tell you that you cannot solve your problem with a new system or method.
you know as well as i that jamie is the archetypal, believes what he wants to believe, sees what he want to see, and hears what he wants to hear. and he is going to continue to avoid advice that contradicts with what he already thinks or believes, until he self-destructs. maybe then, he will step-back and realize that he needs to listen to the advice of people who have been there and actually know what they are talking about...maybe.
Yes. Most people are like that, myself included - I had to learn this business for myself. But still, I sleep better at night knowing I've tried to help.