The 'so easy it's ridiculous' system

I am VERY new, and have begun demo trading. On my own ‘plan’ (which I use loosely because it didn’t involve any money management or discipline) I have blown out 2 demo accounts to the tune of a virtual $7500 (2 @ $2500 with one going in the minus by 2k (!).

I am now educating myself and just finished the babypips school and am reading the first of Dr. Elder’s books as well as using the study guide.

I set up the ‘so easy it’s ridiculous’ system on my latest demo, and so far have executed 2 trades, one of which I closed out early today so as not to carry over the weekend, which was my achilles heel on losing the last account.

On all my demos, I am using the same virtual money that I intend to open a real account with: $2500 and now only trading between 1 and 3 lots at a time (mini).

Has anyone or is anyone using this ‘easy’ system, and if so, what are the results?

Also, barring the 5 - 15 minute charts, is the time frame critical? I have found that I like the 1 hour charts. I prefer day trading above all, but am not sure this is a good system for that - I know in the ‘school’ it says daily charts.

This seemed to be the easiest way to get used to discipline with a system while learning all I can before trying more advanced techniques. Is there another system that would suit my plan better?

All input appreciated.

I started where you’re at, even posted the same thread with the same title !!

I would keep learning more about Currency Trading and try develop your own methods, rather than pick a system “off the shelf” so to say. You’re off to a good start, so well done and props for that. Keep it up and don’t let the set-backs knock your ambition. I’ve always taken negative experiences as an opportunity to learn from. It’s always best to “learn the hard way” because you certainly know you don’t want to make that mistake again

Posting threads like this is a good way to learn, and don’t be afraid to ask for help on any other threads. Most of us on here are friendly and willing to help. I found that experimenting, testing, tuning, and participating in threads with similar minded people helped. Choosing a broker is a BIG task. You must fully research what [B]type[/B] of broker will suit your needs

Keep it up, and keep at it

It’s good to see another trader-to-be here that started out the same as me !!

I have been listening to the Dr’s audio book “Trading for a living”, so far I like it as well as it reaffirms a lot of ideas that I have heard throughout my research.

As far as blowing our your demo, I think there is a few threads you should read. I will not link to them and the names may be off but they should help:
Jacko’s House of pleasure and pain thread on Forex Factory,
MP’s Not so Secret secrets thread here and 350 pip thread on FF,
Ken Lee’s Dont make trading harder thread here on BP
And do some looking into Candlesticks trading via Steve Nisson’s books

Good luck,
Dale