Just logged onto an Oanda Demo Acct. As a US citizen I think that I will open a small account with them intially. I’ll see how that goes and may try an LMFX acct using vload to deposit and withdraw - if there is anything to withdraw later on.
Here is my strat for the Oanda acct. Pimarily Based on the @Trendswithbenefits “befuddled” thread mentioned above.
I’ll be working off of the D, W, M Charts. Willing to camp on a trade for quite a while
XLV4 color MAs - 6MA smoothed, 20MA exponential
ADX no +/- lines
M, W, D s/d lines, different colors drawn at the ADX extremes
Will use W, D fibs and shved_supply_and_demand indicator looking for confluence with s/d lines. These indicators will not stay on the chart.
Upon signal will send out a .01 scout (as discussed with @Jerome32, in his Journal). Depending upon the scouts “reconn” will start placing limit orders and taking profit as the trades go in my direction (can you feel that confidence, that success? It’s like a new age aura of profitability .)
Will be trading small lots .01
Considering using the SL method described in @Trendswithbenefits thread in the post above …
As a demo there will be no withdrawals. However, for the live account will be keeping any profits in the account looking to compound as described in question 8 of the @Clint thread below
I would like to incoporate strong/weak pairing similar to @Dennis3450 or the @MikeWolski complete currency dynamics.
Part of my analysis will be based on the s/d thread posted by @kate25.
Another aspect of analysis will be drawn from the following video by proact traders “Trade the Wide Open Spaces.”
I still have to address how to take profit. Not sure if it will be a set TP to remove emotion and not let a winner become a loser as I have done so often. Also seems to be more prudent to take the first 80-100 pips off the table if I am scaling in. After all pips don’t compound as price goes in my favor. 100 pips is 100 pips if made in 1 trade or two trades one after the other.
While many have suggested a trailing stop, it kills me to have it too tight and get knocked out early and too wide and lose too many pips. This still has to be addressed.
Now all the above information is for sale. You can give me your debit/credit card or bank routing and account number when I call with the PC repair fix for your computer that I have been monitoring!!
I have a good… a great, really great group of guys, I’ve known for a long time, a long, long time! They are really, really great. Great guys!
They’re in my boiler… I mean trading room and you can subscribe to that and they will help you, help everyone, to get the money you deserve! We want you, to join us, the top 1%! I do, we really do, perhaps as a dishwasher or chambermaid at one of my resorts.
What a journey, I feel like I’ve been heading down the longest runway ever! I have to get my wheels up at some point!!