Here is the start of the thread I mentioned on the Introduce yourself thread Left BB in 2013 a failure & upset post-ICT; I’m back in 2017 consistently profitable.
My myfxbook account can be found with a search for “MysticFX” on myfxbook.com.
I will be sharing Live trades here; a live trade means in real time, with screenshot of EXACT trade levels.
If interest develops, I will eventually start breaking down what it is I am doing.
I will update this post as I go along with any important information.
If 1st TP is hit before all partials are entered, cancel any remaining partial open orders.
If we put in another drive against this move, exit at Break-even or close to it, on a pullback. Cannot give exact price, as I look at the Price Action as it comes back in. More aggressive, I hold for a BE. If it is not aggressive, I target the Breakout level going against me.
My question to you is "How do you figure that the 78.6% is resistance? Especially considering the fact that you have more 100% retracements (Cup and handle formations) then you have 78.6 touch and bounce off of!
I accidentally placed a 50x position size trade in this MT4 account instead of my main MT4 account. Both MT4 accounts were open on my desktop and I mistook one for the other. This is resulting in huge volatility for a demonstration account, obviously.
If the trade hits Profit, it will result in account more than doubling in value, and Stop Loss will result in over 50% loss. Either way it is not representative of how I trade, and I apologise for this error.
The intention of this account was to demonstrate a clear equity curve rise with minimal drawdowns, not a roller coaster ride - whether positive or negative. I’ll most likely manage this trade as if it was in my main account, and have to restart another Live demonstration account. (I do not link my main trading account).
It happens my friend. Hopefully it hits TP, but if it doesn’t I can assure you that everyone will look at your system like POS ignoring the mistake which you have committed. When ever one enters a trade by mistake, it is best to just close instead of trying to hit BE.
Thanks for the response MasterKiwa. I closed the trade in 0.25 Risk of loss just before FOMC today, so THIS account is still saved LoL. Regardless I will likely move funds to a new account and start anew. My issue is not the Drawdown; its the VaR which would be irreparable. You simply cannot risk the full account on one trade, it results in unsustainable volatility.
In regards to people thinking the system is a POS over this error: I think with time, they’ll come around. And if not, its no big deal. I’m doing this for free.