"Life is just a blank slate, what matters most is what you write on it."
Christine Frankland
We have to learn from the past, and the reason why tradding guppy this way works is for so many reasons, but a big reason patience plays so big of a part is beacuse you can hold guppy forever, not that will have to, but sometimes you do a RT trade in 5 minutes sometimes it is 5 hours sometimes 5 days, you never know, nor does it matter if you trade every day. You can get to a point where you really dont have to pay attention to guppy and set your orders and forget it.
I would never do this with EU GU UJ or any other pair except those positive swap trades. SInce EVERY night swap is done, so you wont have to take actual delivery of the currency you bought, you can literally hold pound or kiwi or aussie long against the yen. The key with this system for me was
safety. I think I have perfected it now. It works with NJ too and I am sure AJ, just much slower for NJ and and a little slower for aj. It is safe because you NEVER have to sell longs for a loss. If I buy kiwi today and hold it for 10 years, the interest I collect over 10 years will be huge. Japan is not changing. The peopel are set in their ways. They will continue to finance the world (USA) as long as I live, unless we bomb them or something.
Considering that since and after they bombed us, we have paid them craploads of money over the years for the damage we caused to them.
So if it wasnt for us they wouldnt be in as good of shape as they are now.
If I was the preisdent when they bombed Pearl Harbor, I would have sunk the Island known as Japan if it was the Last thing I ever did. So they should be grateful and continue to fnance us for a very very long time.
This is why you have to trade a real account even if with just 1K lots.
My last 12,000 pips were dimes! a meager $1200 in profits I am up over almost 2 months since I went back to using this account. I say that not to brag but to point out that even at 10 cents a pip, I am actively trading with real money and proving you can start from basically nothing and make something of it. Soon I will go back to GJ when I get some more money.
But once you trade gj at 1K lots with real money it will be easier to work up to 5K lots 10K lots then 50K lots or whatever you want. BUT the experience you get at 1K lots in INVALUABLE, the more you trade her the better you will get at it gauranteed. When I first started many years ago she raped me every other time I traded her. So maybe I have a vendettta against her. The only other pair I ever really lost big on was UJ, I just ran out of money and got sold out, but was in way too deep, averaged down too soon, used way too much margin %age, but forex.com doesnt have something as nice as margin useage % on the trading platform.
Id say forget about trading those other pairs until you are nailing down over 99% profits on some real GJ trades. It will build. My trouble is. I keep spending it so my account cant get too big. My account would never grow to 1.2mil! I would take money out steady as she goes. When you have a demo account with higher levels of money it is easier to stay in trades longer when you are deep with $ in your account. When you have less money and maybe no more to put in. You have to be conservative until you get in the groove with her. And even then you cannot trust her at the wheel unobserved for too long or you will wake up and find yourself in Brasil or something, sold out and with no $. Once you are trading her for a while with real money you still always have to be careful and dont let your emotions get the best of you and affect your trading. I do not think trading can be done emotionally. This is why many cannot handle drawdown. Their mind wont shut up with the stupid thoughts. After a run down and up with GJ, my style
even once should turn on some lights upstairs as to the meaninglessness of drawdown. Yes you want to minimize it, but with GJ it really isnt worth worrying about if you follow the rules.
I dont want anyone to be confused and if anyone has any questions ask!
by all means do not trade this way on a real account above 1K lots without
first testing it in demo first. The more experience you have before trading this way the better. Trading gj this way you learn as you GO by trading.
You want to learn and make mistakes NOW, while the lots are 10 cents each or free. But trading with real money is key, if you ever expect to earn any real money from trading gj.
I have not grown bored with GJ. I still watch her just as much as if I was actively trading her. I AM trading her in my demo acct with GU NU
GU is coming back now I am only down 4700 in the demo now. 4478.00 is GU!
so I am about even on GJ and NU.
Act as if, even if it is not a reality yet by acting as if something were you make thus faster.
But I understand what you are saying here.
Thanks for coming clean I know your intention is not to lead anyone to believe all is well when it might not be as well as it was.
I feel good about forex. I am confident with my trades both real and demo.
I got the demo as just sitting and watching NJ is like going to a baseball game. So the demo is entertainment in the meantime. But I am trying to make $ in my demo account even though that is not where it matters.
Quote:
Originally Posted by pipsquito
Any update on the new super duper spreadsheet???
Time for confessions:
Elijah...I am not being negative with this post and am not focusing on the thing I do not want. But I feel that it is the responsible thing to do for me to follow up with some comments I have made on this forum. Several weeks ago I said I was doing very well with my new live account to the tune of about 15% a week...I then corrected that and said it was more like 10% a week. Well...It IS true that I have worked for two years trying to perfect my trading plan and after trading with what I thought was a pretty good system for 5 months starting in February I had brought a demo account up from $100,000 to $1.2 mil....that is true! Averaging about 10% a week.
But we all know about the dreaded "live account" after trading a demo account so successfully for so long....I didn't think I would fall into that trap but surely I see I have.
In June I opened a new live account after suffering a setback many of you are aware of while "attempting" to trade this Guppy system. My new live account was doing very well...and I posted my encouraging results to share with all rather prematurely. Pride goeth before a fall. Sure enough, the bear ate me this week, and I have lost all of my wonderful gains and then some....
I am not whining, but I felt badly saying i was doing so well and then to just leave it at that. I DO plan to make up for it...and will not throw in the towel...but just wanted to be certain that I was presenting the whole picture.
It is VERY IMPORTANT to note that this misfortune I am describing was NOT a result of Elijah's system. I have not been trading this system live (i am beginning to see now I SHOULD have been).
I apologize for boasting my overwhelming returns without giving it some more time, and normally would not take the time on this forum to blab on about this but felt very irresponsible not telling the whole story.
Rest assured, the Phoenix WILL rise from the ashes!! I got caught in a HUGE bull trap with the pound and euro, and will never be so brazen again!!
I will probably play Elijah's strategy with what funds I have left...very conservatively!!  |
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