C’mon lexy, you’re a girl, you can say it, size does matter. I’ve learnt to enter small, get on the winning side of a trade and then scale in specializing on the EU. Probably not the best way but it works for me. I was able to duplicate this methodology on the $150K demo but not the $50K. Drawdown and position size failed me.
I think this was my greatest failing. I reckon with a bit of practice I could happily transfer across to futures but it would mean abandoning forex cfd’s in my case - ie I’m time poor. Best I do what I do best. Learnt that lesson in the past.
Thats $165US. In AU thats $220. Thats my add a bit each month. My account grows more because I add a bit that what I earn from profit. Probably be that way for a few years ahead. But then for us armchair speculators it’s the only way to live the dream one day
Yes, indeed … and a good technique, too, of course. But not one that’s amenable to the constraints of a “$50k Combine”, I do see. Yes, this is apparently an instance where size matters.
Thank you, Manxx! In the manual, part-time world of mine it would be difficult to trade more than one thing, so instead of diversification I have to go for specialisation… Anyway, the proof is in the P/L
Exactly! I think there is a lot of value in concentrating on one product and learning it inside out. Maybe once one is conquered it is fine to expand onto other things. Isnt that the case with musical instruments? That there is always one main one that is always no.1- even when one can play many?
Well, well… That account has been through a lot more changes since my last post, one whole year ago!
I have just managed to get all the figures together neatly into a chart showing the balance curve since starting this demo account with FXCM in February 2017:
Since the last post on this thread I noticed that the account was moving too slowly, so I started experimenting with
various trades… Eventually I traded too big and brought the account down from a high of around 58k to about 10.7k; then, I started reconstructing the losses and am now around 32k.
What has worked in rebuilding the account?
longer trades encompassing 1000s of pips;
incorporating carry trade elements to accrue substantial amounts of rollover over time;
That was the same issue I had on the old Balls of Steel thread. Pure and simple greed, too easy to get carried away when on a winning run.
Good recovery PMH, and the carry trade has been a nice earner
Thanks for the tag! Lots of lessons to be learned from this! We should do a Top 10 Things You’ve Learned / Top 10 Mistakes or maybe like a Q&A for this particular account!
That would be awesome! We’re about to relaunch our mini Q&A sessions here in a few days - would love to add you to the pipeline! Will send you a PM by Monday (out this weekend).