Pre-Deposit Demo journal

This is a discussion on Pre-Deposit Demo journal within the Trading Journals forums, part of the Reception category; Hey folks, Im new here.. I started forex trading Monday, Sept 27th. I have to be honest, I took no ...

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Old Oct 2, 2010, 3:53pm   #1
Joined Oct 2010
Pre-Deposit Demo journal

Hey folks, Im new here.. I started forex trading Monday, Sept 27th. I have to be honest, I took no classes, did very little reading. I just jumped right in, with a demo account. I always try to start my demo account with $250-$500, not $10,000 or $50,000, cause, really, I dont have that much to deposit. Im aiming for a deposit of $500.. Thats what I can "risk".. If I lose it all, then something isnt correct in my strat.

I jumped in, and started trading. I can make money on a sell? WOW, thats awesome, I had no idea. Sell something you dont have? Really? Im in,lol..

In the last 5 days of demo trading, I have made 210 trades, .10 lot size, scalping $3-4 per trade. Out of the 210 trades, I have lost 9 of them.. And I will call them loses, even though I hit the wrong button ( buy/sell) wont do that again. All in All, my final profits for this week were $850.00

And the loses are small, like $2 and below. Except for 2, which you can see in my pic attached below.. with those, I actually got side-tracked by phone calls, and lost train of thought.. Well, they tanked, and I decided to cut them off, taking a loss. But still ended up profiting. Costly mistakes, none the less..

Anyways, here is the deal. Im going to run a journal till Oct. 20th.. Then Im going to deposit. That will give me ruffly 800 trades.

My strat is to make 20% of my account, daily. After I hit my target, I stop for the day.After 5 days, I will have doubled my account balance. So, buy the end of this Pre-depsoit run, I should be up $750... I could go more, but thats not the plan.. If it takes me 2 hours to accomplish my 20%, thats great, leaves me more time to enjoy my life. Reguardless if it demo or not, it must be treated as real, in every aspect. So stop when its time to stop. Having a target daily, is my goal..

I play the Bull rush, quick hits..

Here is what I did for Friday.. I will start Monday morning with this journal. I will post all my trades till Oct 20th..

Thanks for reading, looking forward to hearing info..

Click the image to open in full size.
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Old Oct 4, 2010, 3:23pm   #2
 
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Joined Oct 2010
Re: Pre-Deposit Demo journal

Hi GlenGary can your system be applied also to futures? can it be automated? or is it only discretionary?
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Old Oct 5, 2010, 4:39pm   #3
Joined Oct 2010
Re: Pre-Deposit Demo journal

GlenGary started this thread
Quote:
Originally Posted by FloorFinance View Post
Hi GlenGary can your system be applied also to futures? can it be automated? or is it only discretionary?
Hi FloorFinance

Im not sure. DONT USE AUTOMATED PROGRAMS, yes, discretionary
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Old Oct 5, 2010, 4:40pm   #4
Joined Oct 2010
Re: Pre-Deposit Demo journal

GlenGary started this thread Hey Folks, Im back, a day late.. Yesterday and this morning, I have been fixing my stratagy,, I will start at 12:00pm, est time today.. I think I have everything in my thought process fixed.

Stay tuned,
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Old Oct 6, 2010, 10:46pm   #5
Joined Oct 2010
Re: Pre-Deposit Demo journal

GlenGary started this thread Hey Folks, a day late again, been trying to refine my stratagy.. I think I almsot got it.. One thing im starting now, is cashing in on one ticket per trend..

Here is what i did for today, I almost hit my target of $100 or 20%

Click the image to open in full size.
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Old Oct 6, 2010, 11:18pm   #6
Joined Oct 2010
Re: Pre-Deposit Demo journal

GlenGary started this thread Hey folks, thought i would write some things down about my stratagy..

First off, I use a trend line, which tells the trend is in action.. I also use the Heiken Ashi indicators.

What I do, is look at the recent past, by looking at the 5minute charts. Then I look at my trend line, and never getting in on a high peak, a low dip, or in the center of the trend line, Cause I want to catch the trend early. So I wait for about 4 minutes from the time my first 2 GREEN hieken ashi show, then 1 more minute to see if my trend line turns oppisit (red or Green) THEN i enter the ticket when confirmed. In the recent past, like yesterday, I entered many, many tickets. But Im going to start to enter just one high profiting ticket per trend. That way, I know I wont get caught with a retracement or something..

This is my 10th day from the start of learning Forex trading. I have learned many, many things in the recnet days.. Thanks for looking, and will be looking forward to input or flamings.

Here are some chart shots for ya, this is my set-up

Click the image to open in full size.
Click the image to open in full size.
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Old Nov 6, 2010, 12:23am   #7
Joined Jun 2005
Re: Pre-Deposit Demo journal

Put that coffee DOWN......................Coffee is for TRADERS only.

Let's face it it's very easy to hit the Bull's Eye when nobody is firing at you
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Old Nov 7, 2010, 5:53pm   #8
Joined Oct 2010
Re: Pre-Deposit Demo journal

GlenGary started this thread lol, I love the movie, but mostly the Attitude..

Update.. I have totally changed my perception on the Forex Market.

i have grown by leaps and bounds, and I personally, think I have the master plan

I have made an EA, and using it in On A Live account,

Friday, it made 986 trades, and profited 24% of my account, on my first day Live,

Granted, its a cent mini account, I opened with $17.30

Leveage is 1:1000, Lot size is 0.10

We'll see what happens today..
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Old Nov 21, 2010, 2:59pm   #9
Joined Oct 2010
Re: Pre-Deposit Demo journal

GlenGary started this thread Nov 21st, 2010

WOW, been away for a while.. Time very well used, I have to say..

I have learned alot since then, and again, I feel stronger at the Forex game, then i did on the 7th of Nov...

I changed my strat again. Will be making only 10 trades a day, for 10 pips per trade, which will give me 100 pips a day..

I have decided to deposit around the end of December, and plan to start the first trading day of 2011.. Will help for tax purposes also..

That will give me 30 strong days of practicing my strat and money managment plan..

My starting Balance will be $250
On the 30th day, my balance should be $1,367,650

Yes, Im going where not many have, Im Optimistic..

Follow along, glad to answer questions,

I will be using my EA, which is triggered with Goldminer1, and using SuperGains indicator, 4 Period 7 MA Fibo Relational SR, And Dolly Graphics Indicator for confirmation to turn on my EA.. I trade strictly Long, or strictly Short..

This combination as shown me this method can be very successful, without error, and being consistant over the short and long term, which, is ultimatly the goal..

I will be starting Today, and posting my screen shots of ending day balance daily..

Well, thanks for listening..

Great profits to all..
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Old Nov 21, 2010, 5:19pm   #10
Joined May 2010
Re: Pre-Deposit Demo journal

look forward to see your trades
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Old Nov 21, 2010, 5:20pm   #11
Joined May 2010
Re: Pre-Deposit Demo journal

which pairs will you be trading? also what sizes will your stops be?

Last edited by Chartsy; Nov 21, 2010 at 5:29pm.
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