Quote:
Originally Posted by pipsquito
Which is the most up to date spreadsheet and where is it? May I have it?
Maybe I will close all that on Sunday and start on Elijah's method with what little I have left.
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I keep it at the traderstar dot com/excel-link.htm .. bookmark that page. I will upload a new one today but the one there is also pretty recent.
(However the new one also has a section showing results from the NJ carry trade, assuming E's information that margin used doubles every 21 days is correct)
Haught sent me a super-duper computerized excel-o-riffic version that draws on external information and can also fix dinner in its spare time
Only problem is, I can't figure out how to make it work yet. When I do I will upload that one as well with instructions.
What I suggest you do .. and what I plan to do too .. is set up a separate account funded with $1k only, using 400:1 leverage. You can only trade one micro lot at a time, opening 2-4 positions for every trade with a maximum of 10 open positions. That would allow for a 500 pip dd. I was never more than 400 pips underwater & doubt that would happen with the kind of guppy savvy we are accumulating here,
Worst case, if it did, you start selling your biggest losers to protect margin.
The reason I suggest a $1k account is simply that when you start dealing with real money, as we all know well, 'something' changes .. and what was ridiculously easy in a demo acct suddenly doesn't seem to work as well .. in reality it is we that are not working well because the ol' F & G** words are back in the picture.
Sounds like for you $1k is just play money .. but it
is real money .. so start with that and see if you can double it within 2 months. If you do, top it up to $5 k, increase trade size to 5 micros per position and double that. When that happens, you can top it to whatever you want because at this point you should be comfortable doing this with real money....
I plan to do the same thing .. not sure where I will get the initial $1k but maybe craigslist or Ebay can help.
I will put it in a separate account, that is very important & play it exactly as I did the demo. When that doubles, then I show my kids the results & I am sure they will be falling all over themselves to jointly fund the $5k account.
My goal is just to manage & grow their money anyway, taking a bit for myself to live on. I am almost there
And, Elijah I won't forget the 10% off the top every month
**Fear and Greed
