If you are financially stressed a single lottery ticket per week is equivalent to 5 cigarettes.
But the result COULD be life changing ! - Sometimes the “Dreams” of how you would spend the money are well worth the outlay - just in themselves !
If you have no financial worries at all, then the odds come into play and buying 1 or 50 lottery tickets per week still has a negligible chance of success - ergo - put your mony somewhere else !
While the bullshite raged in this thread, I opened a micro $10 account to demonstrate to newbie traders, that wish to learn to trade a LIVE micro, micro account what can be achieved while concentrating hard on trading and not swanning through the threads, reading rubbish and typing drivel…
Strategy:
SW Analysis of the USD against Gold… USD is Strengthening… SELL, USD is Weakening BUY…
Watch the 4 and 1 Hour, trade the 5 min… So simple…
Non Believers… Once again check the times (UTC +10) and movements with your charts…
@Mordengaard, I don’t use a heatmap… You have to find a Currency Meter that adjusts to the timeframe it’s used in… I don’t know of any for MT5 only MT4… Have a look here… (~150 downloads)
I don’t use MetaTrader… I have posted those links for traders that do… I use a CSM that I developed for Ctrader. The EasyIndicators App. (Bottom) does not need a charting package to signal…
That’s excellent, but genuine question: have you done this with larger numbers involved? I am wondering whether psychology would kick in, whether if that had been $1000 trying to get to $10,800, would hesitation have been the biggest reason that this might not work in the same way? Risking $10 is a bit like demo trading - easy to be brave and decisive!
I’m not querying the underlying point at all, simply positing that perhaps the reason most traders don’t make 25% (or anywhere near that) month in, month out, is that they’re trying to make bigger cash numbers and let the emotion get on top of them, rather than that they have an approach which could not theoretically deliver it.
Absolutely, It’s something I pointed out in an earlier post. As the balance grows the percentage gains will decrease exponentially, as will the exposure (%) to each position… If I have the time, I will attempt to continue to apply this method using more frequent 0.05 positions up to $250 at which point I will increase the lot size to 0.1… and so on and so on and so on… And as you correctly point out, my true risk is… well, $10…
Will psychology kick in?.. for now… $100 is now the new floor, anything above $100.00 is not my money… and the strategy being used is so, so, so simply applied…
Growing $10,800 at 10% per month is still an outstanding result… and reasonably easily done…
Hey T, my opinion, and remember it’s just my opinion, nope, and let me think about it a bit mooooooooore annnnnnnd nope. Now if you have a Certified Account and Blotter, well that I would believe, in fact I would stop trading tell my clients to sign up with you and I would do the same, Scuba in the Summer, and Tobogganing in the winter it would be YUUUUUUUUUUUge.
Hey @TalonD, For the exercise, I just opened a $200 account (Min) on IC Markets (Aust) and withdrew $190… Bazinga $10.00 account… IC leverage available up to 1:500
I have quite a few accounts with them, so they don’t seem to block this tactic…
Hey @peterma, Totally agree… and the XAUUSD gives you volatility and retraces frequently to wenst it came from (ie: Mon-Fri) making it easier to estimate your trades… I knew all week it was coming back, just wasn’t sure when, hence you see all those pending orders triggered and filled on the spike down yesterday.
And it gives big pips… well over 2000 for the week, which in reality has the value of 200 in the currency crosses…
… $10 to $135 in 17 trading days… you can do the percentages…
Got caught by the US Fed Rate release yet still managed to forge on to a muted result…
This is a good example to new traders how Lot size management can guard against disasters when losing some serious pips… no martingale… just plugging away with the small lot sizes got the result back on the correct side of the ledger…
Strategy:
SW Analysis of the USD against Gold… USD is Strengthening… SELL, USD is Weakening BUY…
Watch the 4 and 1 Hour, trade the 5 min… So simple…
Non Believers… Once again check the times (UTC +10) and movements with your charts…
