Thank you very much mate for your detail answer! By the way, from the next time definitely I’ll use the search bar!
To see what High frequency trading does…> Mt4 Ending, NSA spying, What.? Scroll down to the 2 videos on HFT. …
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I would say your lot sizes are a bit big considering you Capital…!
Still working on that anyway lets focus on the fact that a win is a win
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Yeah… it is
But…
you should really be focussing on RISK MANAGEMENT as opponent to winning
I mean
EUR USD
Lot size 0.30
Profit in pips = 61 pips
therefore 61 x $3 per pip = $183.00
THAT’S GREAT… GOOD FOR YOU
but, let’s see what would have happened if you stuffed up
lets say you put your stop loss at 30 pips
well. 30 x $3 per pip = $90
so you are roughly risking 14% of your entire account
ARE YOU CRAZY… to say the least
because 100% divided by 14 = 7 approx
meaning… YOU CAN DO THIS 7 TIMES AND LOSE BEFORE YOU BLOW EVERYTHING
and that’s at 0.30 lots
now
was someone revenge trading… hehe
seriously mate
so with 0.8 lots you are risking nearly 3 times your normal lot size
Meaning 14% x 3 = you are risking approx 40ish %
Mate… DO THIS TWICE AND LOSE, and you’re done
and trading at 1 standard Lot
Are you nuts ?
What you are doing is gambling
You know when people call Forex Gambling
they are talking about 2 things
- Binary Options
- What you are doing
simple as that
You want long term profit
lower your lot size and have a reliable trading strategy
I mean. let’s look at this as well
CLEARLY out of 8 Trades, YOU WIN 6
now. if you can maintain that streak permanently
and you loser your lot size, You’re heading in the right direction.
You’re doing good mate, but you’re getting cocky and that’s not a good thing
the pattern is easy to see
0.30
0.30
0.30
0.80 (getting cocky)
0.30
0.30
0.10 (getting scared)
0.30
0.30
0.80 (getting cocky)
0.30
1.00 (is looking to be put in his place by the market makers)
trust me mate, they will wipe the floor with you
they love newbies that do this
and they lead on and make you think you’ll get there
MAKE NO MISTAKE… YOU WON’T
Trust me… I’ve tried
and i’ve gone hard and after losing, i put in more, and after losing, i put in more again and i didn’t care and i put in more again
They will keep taking and taking BECAUSE THEY CAN
simple as that
I’m telling you this like a friend
back it off to like 0.05 lots MAX
0.1 would be getting a little cocky, but every now and then… yeah ok… i understand
but no larger than that
you’ve been told, now do what you will
Thanks bro every day is a learnimg experience. I didnt have the previlage of forex school but i do take correction seriously. Anyway are the mt4 demo account markets as volatile as the real market? It might help to come up with a good risk-reward ratio.
You do realise there’s a free forex school right here, don’t you?
well… if you are trading 1 standard lot on demo and then you move to live… YEAH… YOU’LL FEEL THE DIFFERENCE.
if you are trading 0.1 lots or less on demo and then move to live, YOU PROBABLY WON’T FEEL THE DIFFERENCE.
even though there is one
see. when you are trading LIVE you are ACTUALLY AFFECTING THE MARKET IN SOME SMALL WAY.
on Demo, you use Live feed but it’s a simulation, you are not actually affecting the market in anyway you are just experiencing it in a TEST SERVER ENVIRONMENT that is isolated from the Live Market
Yeah and am making the most out of it. Do demo account markets move at the same speed as the real market? Might help to come up with a good risk reward ratio.
it depends on your broker
but… YES (they are supposed to ) because the idea is…
Live accounts and Demo Accounts Receive the same data feed
the difference is that in Live account you use real money
Now… if your broker is manipulative, they may try to give you a false sense of confidence and reward you in demo when you are trading incorrectly , so as to set you up for failure on live
but… that’s different
so… that aside
YES IT’S SUPPOSED TO BE THE SAME THING
there may be a slight delay sometimes, it really depends how the server is setup from a Networking point of view