I think I briefly mentioned it somewhere - but I should add it here. I find that part of my strategy is that I also apply my strategy on multiple demo accounts. I currently actively trade on about 10 demo accounts, and Im sure I hear you ask, why 10?. Well personally I find it ensures that I dont get stuck (mentally) on a specific account size, being my live trading account size, but that I practice the same thing on a variety of size scales, so I may have a $10 account and I also have a $10 000 000 account. The ones Im trading with most actively at present are $5000, $20 000, $50 000, $100 000, $200 000, 1 million and 2 million. Here and there I use selected others.
Part of my personal impression of my trading is that if I find myself being too risky on my demo accounts, then thats a warning for me on my live accounts. Unfortunately, I tend to always be more risky on my demo accounts - but Im toning it down. The demo accounts certainly serve their purpose in my opinion. I will always use demo accounts alongside live accounts.
Demo accounts as at 28 Aug
5000 - 3925
18000 - 41500
30000 - 79000
50000 - 195300
100000 - 159000
200000 - 449000
1 mill A - 832806
1 Mill B - 2902562
2 Mill - 5756806
5 Mill - 6246000
10 Mill - 10337000
Demo accounts as at 31 Aug
5000 - up 1100
18000 - down 8k
30000 - up 13k
50000 - down 30k
100000 - down 80k
200000 - up 10k
1 mill A - down 100k
1 Mill B - down 500k
2 Mill - same
5 Mill - down 300k
10 Mill - same
Wow - a year and a half since posting. I had wins and losses. recently my longest stretch of smallish wins adding up to gaining back $14k of my losses. Entering into 2019 looking to break even by years end
Ok - got in again as my original user
My goal for this year - to break even. Need to gain back about 30k US
Last 7 months have been continuously successful - but its only success if its successful month in month out, year in year out
I am trading about 7 pairs, and i have started hedging in some cases
well - here I am -back - no not back - I have been trading non stop for 5 years now - but i mean back on babypips. I didnt want to post anything until I had broken even and finally it has happened. The past 8 months have been very good and I made back all my losses, about $25 000. At my worst i was maybe $40 000 down, so here I am, 5 years experience, good gains - big losses and ready to start in the green. and on a different note - this accidentally co-incides with oanda having to let me go because they are no longer allowed to have NZ clients. very sad as i have loved being with Oanda for the past 5 years. So as i break even i also have to change it all up and learn a new platform.
Welcome to the surface!!!
Good luck going green!!
KC
Ive decided to go with IG and Metatrader 4
I do 100% of my trades on my phone now - and for the past 3 years at least. Only used the desktop version in my first year.
My win rate in the last few years was about 94% but thats ridiculously misleading since my losses were huge when they occurred.
Eventually i reduced risk, used hedging, stopped basing decisions on news events, did not use signals, and traded multiple currencies
Worth reading thread.
Btw, it’s true that win rate is misleading, like you have all the grades up in school but poor performer on job defines a failure. Keep hittin’ man. You got the boost, carry it with you.
How far SL you used in those 6% loss rate? Scalp trade or position trade? SL is truly an art and it depends on your style and your learning determination on indicators you use.
Keep your passion alive.
Well - there you had to go and ask the most difficult question. My absolute weakness. SL. I dont use SL at all because i just cant get it to work in my strategy. So i lost big by hitting margin calls.
I am a scalper. It was about 2900 trades in a 3 years period - unfortunately I lost earlier history by being transferred from Oanda Europe to Oanda Australia - so i only had stats for the past 3 years or so.
about a 1000 trades a year - so if you work out the number of trading days per year i think that works out to about 4 /day. some days more - some less. I think thats reasonably accurate.
My risk to reward ratio was awful - but it didnt matter. I made small profits and i took profit as often as i could. I always imagined it as finding some cash on the ground. I could walk past it and hope it grew larger or just pick it up.
I chose to close any and every trade that had made over $5 gain. It paid off.
am i saying you should trade without SL - hell no. Its the one thing i need to learn to do right.
This was my stat sheet as i closed off with oanda - keep in mind - that profit is in fact a break even because my earlier stats with Oanda Europe are not included
I Have now signed up with CMC and will be starting live again in the week, after quite a time trying to find a broker. CMC seems good
Ok - I have a CMC account funded with $100 US which is NOT an MT4 account
then i also have an MT4 CMC account funded with NZ$1000 which will be my main trading account - on mobile. Still trying to get it set up for use
My hundred account is currently $3 down with a small position open
Hundred account is at 106
thousand account at 1080
my hundred account was at 108 and then i blew it. total loss. Got overexcited and went all in. i was wrong.
On my thousand account i had reached $1900 which was not too bad. I then added 5k to make $6900 to start trading slightly larger
Next thing I wake up to find all my money gone and my account balance $-202 000, and margin call emails sent to me.
Yes - i almost had heart failure. I imagined we had a replay of the Swiss Franc drop some years back
But i looked and there had been no dramatic moves
Turns out it was a software stuffup at CMC markets on their MT4 platform - it took them a day to fix it, no emails sent out explaining anything, and i end up with a thousand missing.
If I was with Oanda - this would never have happened - but the finacial markets authority in NZ forced me to change to a broker lisecenced by them - and this is what happens.
I have sent email asking for my other 1000 to be given back to me and then im looking for a new broker
