Developing a system - LIVE experiment )
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Thread: Developing a system - LIVE experiment )

  1. #1
    My previous post was transferred to the classified section because I mentioned that the word ebook. . .so I will not talk about any of that here. Furthermore, I generated an EA and backtestsed the machine and it wasn't pretty. . .another scam.

    I've traded without any system in place: I haven't been using any technical indiors, nor have I followed the economic occasions in the past. I've been making my trades when I felt like the pair will move in a certain way, primarily based on it is average price over the past month or so. .

    I shall now start to come up with an actual system and this is where I will monitor my progress. I love and welcome any feedback and suggestions.

    I would not suggest following my trades, however, because this at an experiment

    Background:
    ======================
    I am 21 and have been trading for approximately 8 months. Nothing overly technical, mainly just random trades here and there . I openned my account with $250 and moved to $920 in 4 months. . .then discovered a lesson on using stop losses (lost $600). Turned that $320 straight into $900 pretty fast and then learned my next lesson with a margin call - do not trade so many lots! (lost that $500 ago ). Once again, turned that $400 into my current equilibrium - $959.

    My FX advice:
    ======================
    Broker: Forex.com
    Starting Balance: $959.00
    Margin: 1:200
    Lot size: 10,000
    Currencies: I will probably adhere to GBP/USD, USD/JPY, EUR/USD

    I do not spend much time in front of the pc, so I bought a pocket PC and use MetaTrader 4 Mobile (da bomb!) For chartingand ForexTrader.wireless for trading.

    I do not have any positions open at the moment and will start on Mon!

    Here we proceed!!!
    Admin - plz do not move/delete this thread; I am not going to endorse or advertise anything here

  2. #2
    In all honesty, I'm confused. Are you currently developing a system or trading a system? Or are you just winging it and doing both at the same time?

  3. #3
    Quote Originally Posted by ;
    To be truthful, I'm perplexed. Are you currently creating a system or trading a system? Or are you just winging it and doing both at the exact same time?
    I have been winging it, but I will develop a system starting with my next commerce

  4. #4
    Hello that model and brand pocket pc did you get, I'm trying to get one and would love to receive one which I know is good for trading.


    Thank you and Decent luck with your system

  5. #5
    I work PT at Sprint, so I've the PPC-6700. Telephone and MetaTrader works flawlessly

  6. #6
    Quote Originally Posted by ;
    I've been winging it, however I can create a method beginning with my next commerce
    Make sure to keep us up to date with your progress with this particular main.

  7. #7
    I would like to turn away, but I can't.

  8. #8
    I want to jump on the GBP/USD, but it's been kind of sideways since available today....only 14 pips. I will wait until tomorrow, but I think it will go up, short at least

  9. #9
    Quote Originally Posted by ;
    Your third lesson might be that you should not trade miniature lots on such a small account. Despite that, I wish you the very best.
    Gotta take risks to get rewads. . .thanks though!

  10. #10
    I'm pretty much a beginner myself. New to the forum also.
    One easy trading egy, which has worked so far is to place entry orders if I visit a horizontal station or a triangle formation. I normally place an entry order at 5 to 10 pips over the station to go long. The same as a short/sell, entrance order is placed below the channel. My stop loss is usually 30 to 40 pips.
    My trading hours are during late Asian semester. Which is late night here. I abandon my entrance orders to be implemented for afterwards.
    Now I saw eur/usd pair forming a triangle in 1 hour chart at approximately 23:00 (U.S eastern time), eur/usd was 126.15. I placed a buy/long entrance order for 1.2645 and a sell/short entrance order for 1.2595. The two with 40 pip stops. At this moment (03:24 est) the pair reaches 1.2586 and I'm up 10 pips up to now. I would not take profit yet. Lets wait and watch. I would trail my stop loss though.

    I'm also long USD/JPY since 01:30 est.. I enetred at 118.75 (based upon daily chart trendline.

    Goodluck.

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