Day Trading & Forex Forum

£80

Why £80?

Well I was reading that a new traders should trade with money that they can afford to lose well this is all I can lose.

This is not the first time I attempt trading, I have been a student of the markets for 3 years now but wiped my account twice now

I have been following different threads trying to find what works and why I have done so poorly in doing so I came across a trader by the name of Trader_dante that has changed my view, I have read majority of his threads and the one that did it for me was when he started a trading journal with just £40 and turned it into £1,590 in 2 weeks for charity.

He has done this just by using price action which I think is amazing. So I thought I would follow his method for 50 days and see what happens to my account. I will post every trade in this thread for the next 50 days. I will not be able to trade everyday but the days I do trade will be numbered here.

I will be using Oanda because they allow me to trade small amounts.

I welcome all comments

£80

mitch101

Ok, I'll be interested to see how you do. Can you elaborate on your intended method / system?

KillPhil08

This is at least the 4th thread of this style in the last week, more previously. So far not one has delivered.

Good luck.

£80

My method is trading off of support and resistance to support and resistance. So my first trade is on NZD/USD 1hr my entry at point A(0.8786) is because of support and the pin bar that formed, my stop at point B(0.5752), My first target is at C and second at D. lets see what happens.

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£80

So I'm off to a bad start, the end result of the first trade is a loss. Unfortunately I got stopped out by 1pip at point marked 1.

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MrMiyagi

It can be done £80, for kicks I now and again stick in 100 / 200 into Cspreads and make a long term trade on whatever takes my fancy, pretty often I lose, as those sums don't buy much stopping distance, but catch enough long term trends to make it pay off.

If you're gonna parlay 80 quid into a 17 billion say, you don't want to be mincing around with super-micro trades. 80£ gets you two shots at say the FTSE with CS at a pound a point, or be a pig and shat it all one horse at 2£ a point .

Its good practice, teaches you why money management is goodie, and when you luck out, you can buy loads of old bollox you wouldn't dream of buying on a normal day.

raysor

Papageno 1.40 Folkestone Today

TheBramble

Why does £80 profile point to member 180666 ?