Eric Alyea
Master Sergeant
- Messages
- 363
I like this question
I like this question
Thank you Duane
Eric.
Zen is “ZEN” that is a mind thing that you do... in prison, in war, your best thought’s of a business plan, and to find out “What” you might be possible of doing if you can control your mind.
Practice is practice, the way I was taught, (military not trading):
“Practice makes Permanent, NOT perfect” practice wrong, and you will do it wrong again later.
(nuff said).
Down to practical:
#1 I will set up two MT4 demo accounts, to be disclosed later, right now I am juggling Oanda, FXCM, Alpari, and one other. I want to see the difference in platforms, and with what I want to do.
I want to mark my daily pivot points (PP, green line), S3 (red line), and R3 (red line). My Weekly PP (Blue, pivot point), Monthly, PP (Yellow, pivot point). I want to do past monthly and yearly comparisons to the (Fundament) report's and which way it went. It is a lot of research (Back testing) to know the pair (for 10 year’s) you are putting "The Equity of your HOUSE on" it. There may be quicker ways, but if you are new and don't know what is going on... learn one pair at a time, is proper stalking of a target, that is what I do... Right now I am doing it by hand because I am not good enough with MT4 yet. How do you think you get those advisor reports. Advisor's shooting a random target’s just to send a bullet in the air to miss, NO. KNOW your target. Learn how one runs to hit the other. (Nuff said).
That’s what I want to do...
#2 set up “Three” demo account’s, “Buy”, “Sell”, and “Long Term”.
#3 Do an “intentional loss” on my practice account’s with a pair I never use so I can mark it as a “Demo withdrawal” and keep trading with money management.
Let the computer do the work.
I would recommend that you learn how to do PP, S3, & R3 calculations by hand every day for one week on a hand calculator, JFYTK (just for you to know).
I’ll edit this tomorrow, good luck, sorry for the late answer, but I believe that good question’s are due their time for response.
I like this question
I know you ride the pony until it kicks you off, so it's rare that you'll get kicked off a $100k account.
It's a great philosophy if you can afford to lose $100k, but many of us can't.
The same principle can be applied to a $1000 micro account of course, and all the results are divided by 100 to get perspective.
I can afford to lose $1000, and if you also apply the principal of taking out half profits every time the account doubles (as Felix teaches to do for EA accounts), then you can even feel safe after the first double.
I like it. That said, I was wondering if you could give an idea of how low your account gets before recovering. You have a $100k account; how often does it dip under $50k. At what point do you stop opening new positions and wait for the current positions to recover?
Thank you for the continued updates,
Duane
Thank you Duane
Eric.
Zen is “ZEN” that is a mind thing that you do... in prison, in war, your best thought’s of a business plan, and to find out “What” you might be possible of doing if you can control your mind.
Practice is practice, the way I was taught, (military not trading):
“Practice makes Permanent, NOT perfect” practice wrong, and you will do it wrong again later.
(nuff said).
Down to practical:
#1 I will set up two MT4 demo accounts, to be disclosed later, right now I am juggling Oanda, FXCM, Alpari, and one other. I want to see the difference in platforms, and with what I want to do.
I want to mark my daily pivot points (PP, green line), S3 (red line), and R3 (red line). My Weekly PP (Blue, pivot point), Monthly, PP (Yellow, pivot point). I want to do past monthly and yearly comparisons to the (Fundament) report's and which way it went. It is a lot of research (Back testing) to know the pair (for 10 year’s) you are putting "The Equity of your HOUSE on" it. There may be quicker ways, but if you are new and don't know what is going on... learn one pair at a time, is proper stalking of a target, that is what I do... Right now I am doing it by hand because I am not good enough with MT4 yet. How do you think you get those advisor reports. Advisor's shooting a random target’s just to send a bullet in the air to miss, NO. KNOW your target. Learn how one runs to hit the other. (Nuff said).
That’s what I want to do...
#2 set up “Three” demo account’s, “Buy”, “Sell”, and “Long Term”.
#3 Do an “intentional loss” on my practice account’s with a pair I never use so I can mark it as a “Demo withdrawal” and keep trading with money management.
Let the computer do the work.
I would recommend that you learn how to do PP, S3, & R3 calculations by hand every day for one week on a hand calculator, JFYTK (just for you to know).
I’ll edit this tomorrow, good luck, sorry for the late answer, but I believe that good question’s are due their time for response.
Last edited: