I would consider after making a winning trade to go fishing. if first trade is a winner what else you need ? or have some goal, or when you start feeling that you are afraid to lose next trade and give back money stop trading.
Hi Mino, I think results are good. You only need to cut some losses faster cause they hurt your performance. You can see your average loss bigger than average win and I noticed some oversized losses -600 + pips and like this. otherwise very good. I am still working on my trade management and entries.
you are wright. if the first is winner I can stop. I always work on mass productıon. daily 1 trade seems to me like retail sale. I think I should prepare myself to retail.
Chikot posted: I would consider after making a winning trade to go fishing. if first trade is a winner what else you need ? or have some goal, or when you start feeling that you are afraid to lose next trade and give back money stop trading.
I think you are action junky 😉 It would be more beneficial for your trading to move to higher time frame or try stocks for day trading. why? cause stocks if traded on Nasdaq/ NYSE is still traded during exchanges open hours which is 9:30 a.m. EST to 4:00 p.m. EST. Hence you do not have to stay around PC the whole day. I came to decision and it is final that i am not day trading FX markets. I am working on longer term daily charts and this it is. Trades run but I am not there most of the time. I do check but I am not glued to the screen. I still think how to manage trades, when to move stops or not to move stops. I think there is no backtesting solution to this one. You see got stopped on a couple of trades, but hopefully another 2 will keep running. I think there is still potential in them, but will see. E/J was giving long signal but I could not make myself to buy Euro despite what charts were saying. Situation is really ugly over there, everything can end with big ugly red candle or even gap down on weekend. I am late to few more pairs. Looking to get some more runners.
On the other hand, I am planning to start working on my stock day trading. Cause it makes sense. Money wise it makes sense to deposit and trade $10 000 with stocks and not with FX. I have withdrawn funds from FXPrimus. taking my PC for upgrade next week, adding second monitor, some memory, clean up and video chip. will sign for Real Tick demo and start working on my method. i actually got an idea how to trade stocks and last summer I started practicing. results were encouraging. However I did not have the complete set up that comes with Real Tick, Sterling does not have it. Stocks I am planning to put the money when we have it and when I see that my trading goes real well on demo and covers fees plus net profit. After I see things work, I will post my demo trading results here too and hopefully then live results after I got results on demo and money to go live in stocks.
Google stock brokers that have Sterling and real Tick demos. There is a lot of the on line. there is also traders' pools where trader can start with just $2000-3000 deposit and they provide leverage but i would not go with this. too little. When trading with those pools fees are lower than if you open account with broker directly. $10K is a minimum to cover expenses and everything and keep risk low. anyway, first they must be good results on demo before going live cause there is ECN, routing and other fees related to stock trading. Usually it is $1 and some cents for opening and closing 100 shares trade. Only serious brokers and platforms should be considered that have Level II and volumes. FX like stocks trading in smaller than 100 shares increments like on FX Primus now are not for day traders. I simply see that FX is overtaking your life cause it is 24/7 thing. stocks are only few hours a day...
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.