The £10K Gamble - [The Journey]

Indeed you wouldn’t want to go and demo an account with max leverage and capital because that’ll give you a false belief that trading real money is easy. Better off with either live with relatively small capital or demo on a reasonably capital that you can “afford” when going live.

Easiest way to compare is to have both live and demo with same amount of capital and trade on both (of course different pairs otherwise you’ll beat the purpose). 99% of times you’ll find it hard to manage a live account because that’s where your mental gonna beat the crap outta you.

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Quiet day today.

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hey, ive read the entire thread and cant figure out exaclty how this strategy works!

mark S/R on M and W
sell at resistance buy at support
you have 500 pip SL but are making 10-20 pips?

am I missing something?

TY

Yes , RRR is bulshit :slight_smile:

Trading is simple. If you have big winning rate you dont need RRR (Baller system) but if your system (trading style) dont give you high winning rate you can still make money with RRR. Try simple system with coin flip. Heads = Buy, Tails = Sell with stop loss 100-200 pips, 1 open postions per pair, max 10 pairs. If your SL is hit open reverse position. Let your winners trade run. Use proper MM.

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You will never succeed in trading if all you’re doing is gambling, which is exactly what you just described.

What is gambling ? Forex is random walk for small traders every day, every week is diferent. Trend folowing system dont have big winning rate. You must use good RRR. Baller system have bad RRR but 99% winning rate. Both systems work.

Hi, i took a look at the charts, how does this fit the strategy? are you waiting for the breakout.?

Trading is basically a form of sophisticated gambling.

It is no different to betting, if you are risking x amount of money on something to happen and it happens you make £££, if it doesn’t, you lose £££.

Unless you have serious capital to invest into Forex - people are going to have to up their game in this day and age.

Traders that know what they are doing don’t care about RRR - and they don’t put all their eggs in 1 basket.

The reason most educators bang on about RRR is because they know 99% are small timers with limited, fixed capital.

Their mentality is more capital preservation than capital growth.

I don’t see the point in trading and making peanuts that can’t help you in a crisis, i.e the crisis we’re in now.

It’s not to say we should all be looking to double accounts as fast as possible, but you should either be cherry picking the best opportunities and going in hard vs just going in for the sake of it.

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£18.2K on top of the original £10K I started with.

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i agree with what you are saying, but hard to put it into context without you outlining your strategy? cheers.

It’s already outlined in this thread, plenty of people have understood it and put it into practice.

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I read the whole thread, mark S/R on M and weekly, enter on daily at S or R in direction of monthly trend.

but your first screenshots dont really align to that? Plus you said 300-400 pip stops but your taking 10 pips profit? im confused not doubting thats all.

thanks

I’m not sure I’ve ever said enter on daily at support or resistance. I’ve said mark support or resistance on the monthly and weekly and look for an entry on the daily or lower time frames.

Waiting around for entries at support or resistance is like trading once in a blue moon.

I take all sorts of pips, I’ve always said this would be a boring thread if I took several trades and waiting to make hundreds of pips on each trade.

I take what I’m happy with at my desecration, most the time I’ve gone back in several times.

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Probably done for the day now.

Pizza time, home made.

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understood, thanks for clearing that up. So then in essence what is different about this strategy to others is the RR is not what we would consider in usual “teaching” normal.

cheers.

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Any chance you could include your opening times on your screenshots at all, just to give us an indication of holding times and look back at your entries?

Of course.

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Thank you. Just curious, for all these positions is your SL set at 500-700 pips away?
I also use C trader and have a similar sized account but my lot size is always 0.1 - 0.5 to maintain a 5-10% risk per trade. If I input 1 Lot on the same pairs it gives me around 30-40% risk? Am I missing something?

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And yet here we are 11 months later… Scalping the market for 10-20 pip profits… Holding 1 lot positions open for a few minutes, hours etc… (You can see here)

So, you’re now an amateur or maybe a bottom feeder…

Talk about being sucked into an illusion…