Yes - this is nice on a demo but with a "REAL" broker, you would need $70,000 in margin just for your current open trades. Also, remember that the psychology of trading is most important. Therefore, who would want a system that is in the negative for days on end waiting for it to get into profit. This is like the early "Steinitz" system all over again. Easy for us to see with you tremendous losses in the interest column.
Do yourself (and all of us) a favor:
Find a system that gives you good entries rather than worrying about spending days and days in the RED.
Cheers and good luck.
Quote:
Originally Posted by vin
Hi I have been paper trading a 50,000 account which now stands at almost 250,000.This is after less 3 months with most trades made in the last few weeks.
Method :
I use breakout chart patterns, heiken ashi candle sticks and bollinger bands.They give me direction, momentum and volatility.
I am medium term swing trading.
I do not risk more than 1-2 % on a trade.
I have a stop loss always, and I place the stoploss at point I know my anticipation of the market is wrong.Usually above or below squeezed bollinger bands.
So,My position sizes vary according to market conditions and placement of my stop losses.
I make my self aware of general fundamental situation, interest rate movements etc, most news I discount,rumours I pay attention to and look for market confirmation. I let the market tell me most information.
I analyze with H4, D1,W1,MN.chart patterns , and momentum to find trends
entry and exits with M1,5,30, H1.Positions are made during price congestion and sqeezing in these time frames.
If the market moves in my direction I move stop losses to last point of resistance and support.
Losers are kept less than a day if you am wrong you find out fast.
Winners can be kept for days,weeks or months
As of today the account has a booked loss of around 6500, and an open profit of nearly 180,000.
these are my thoughts and strategy.I'm interested in hearing others.
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