£500 to a million spread betting Forex

This is a discussion on £500 to a million spread betting Forex within the Trading Journals forums, part of the Reception category; Originally Posted by price777999 well i closed the oil bet after all , account up a bit this week but ...

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Old Mar 4, 2011, 4:28pm   #31
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Re: £500 to a million spread betting Forex

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Originally Posted by price777999 View Post
well i closed the oil bet after all , account up a bit this week but still have a few bets open ....have a nice weekend.
I see you hold on to trades over time but is that a bit risky over weekends ?
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Old Mar 4, 2011, 4:37pm   #32
 
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Re: £500 to a million spread betting Forex

price777999 started this thread i guess it is , but i will normally only hold over the weekend if price is a good bit in profit .
I cant see gold and silver crashing over the weekend ?.....But Im no expert .
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Old Mar 4, 2011, 4:43pm   #33
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Re: £500 to a million spread betting Forex

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i guess it is , but i will normally only hold over the weekend if price is a good bit in profit .
I cant see gold and silver crashing over the weekend ?.....But Im no expert .
Ok cool

Keep at it and have a good weekend
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Old Mar 5, 2011, 4:31pm   #34
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Money Management

Hey Price

I'm no expert but I had a look over your trades and thought I would just point out some Money Management hints. You may know these already and if so cool.

£500+ account balance

Trade Lots 0.50
When trade goes green move SL (Stop Loss) to Entry (Break Even)
When trade is half way to your target close lot 0.30 let 0.20 run for gravy(£££)
If trade continues to run just move SL to lock in profits

Trading 0.50 represents 2% of account balance with a 20 pip SL.

Just a thought on looking at your trades
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Old Mar 5, 2011, 6:41pm   #35
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Re: Money Management

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Originally Posted by JDTRADER View Post
Hey Price

I'm no expert but I had a look over your trades and thought I would just point out some Money Management hints. You may know these already and if so cool.

£500+ account balance

Trade Lots 0.50
When trade goes green move SL (Stop Loss) to Entry (Break Even)
When trade is half way to your target close lot 0.30 let 0.20 run for gravy(£££)
If trade continues to run just move SL to lock in profits

Trading 0.50 represents 2% of account balance with a 20 pip SL.

Just a thought on looking at your trades
I think you've been watching those videos too much, but that might be a good idea with my trading setup because i can pick S and R levels quite often, but i dont know how much they will bounce and if it doesn't go up, there's no point being in the trade.
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Old Mar 6, 2011, 2:50am   #36
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Re: Money Management

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I think you've been watching those videos too much, but that might be a good idea with my trading setup because i can pick S and R levels quite often, but i dont know how much they will bounce and if it doesn't go up, there's no point being in the trade.
lol
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Old Mar 6, 2011, 7:13pm   #37
 
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Re: £500 to a million spread betting Forex

price777999 started this thread JD , advice always appreciated here ......... I have tried the break even thing and it doesn't work for me , i just get taken out and then price rockets of in the direction i expected .
I prefer to give trades as much breathing space as possible .
20 pip stops are way to small for H1 trades , I use 60 to 150 pip stops , so 10p per point is fine for now as i will have a few trades open simultaneously .
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Old Mar 6, 2011, 8:36pm   #38
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Re: £500 to a million spread betting Forex

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JD , advice always appreciated here
Cool

Watching
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Old Mar 9, 2011, 10:22pm   #39
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Re: £500 to a million spread betting Forex

Kerching Price



KEEP IT UP !
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Old Mar 9, 2011, 10:31pm   #40
 
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Re: £500 to a million spread betting Forex

price777999 started this thread cheers bud if only it was £100 a point ........ one day

i was using the iphone app today , tried to close the s&p500 trade but conection got timed out or something .....anyway might be a good one ?
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Old Mar 9, 2011, 10:53pm   #41
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Re: £500 to a million spread betting Forex

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cheers bud if only it was £100 a point ........ one day

i was using the iphone app today , tried to close the s&p500 trade but conection got timed out or something .....anyway might be a good one ?
NO NO NO NO mate !

Your phone should be just to monitor open trades, keep an eye on prices and close trades.

Never trade on the go But thats just me



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Old Mar 10, 2011, 12:23am   #42
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Re: £500 to a million spread betting Forex

On a serious note mate

If you continue with good trading and your getting results then just keep adding funds to your account so you can ladder up on the trade per point.

We all want to trade from pennies to millions but in reality we all got day jobs and lives to live. So if you getting the trade results just speed up your way up the ladder.

Early days yet but keep it in mind.
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Old Mar 11, 2011, 6:25pm   #43
 
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Re: £500 to a million spread betting Forex

price777999 started this thread I'm done for the week , account now at about £650 ..........just £999,350 to go .
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Old Mar 11, 2011, 6:38pm   #44
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Re: £500 to a million spread betting Forex

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I'm done for the week , account now at about £650 ..........just £999,350 to go .
You can do it !

Have good weekend mate
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Old Mar 11, 2011, 6:56pm   #45
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Motivation !

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