Whip me in to shape scalpers :D

Nope, my live trading account is no way near that... being careful as i start, and with the scalping techniques i am using its not needed to be massive anyway, i did try some interesting yet risky things on my 100k demo yesterday and earned over 10% but i was very lucky, at one point i in the red big time, but then again i wouldn't of tried risks like i did in real life anyway although it was educational, for anyone who's interested here's yesterday:

AL Closing trades 22/04/11 CZKSBZAF Spot FX EUR/USD - 1.45542 $ +1 1.45547 $5.00
DEAL Closing trades 22/04/11 CZKH8YAN Spot FX EUR/USD - 1.45647 $ -1 1.45502 $145.00
DEAL Closing trades 22/04/11 CZKQUPAT Spot FX EUR/USD - 1.45649 $ -1 1.45624 $25.00
DEAL Closing trades 22/04/11 CZKKKJAM Spot FX EUR/USD - 1.45685 $ -2 1.45666 $38.00
DEAL Closing trades 22/04/11 CZKQ7NAQ Spot FX EUR/USD - 1.45724 $ -2 1.45676 $96.00
DEAL Closing trades 22/04/11 CZKLHAAH Spot FX EUR/USD - 1.45731 $ -2 1.45676 $110.00
DEAL Closing trades 22/04/11 CZKJ3TAP Spot FX EUR/USD - 1.45699 $ -1 1.45684 $15.00
WITH Currency Transfers 22/04/11 42991673 Transfer from $ to £ at 1.6604 - - $ - 0 $-21,918.00 (changing to £'s)
DEPO Currency Transfers 22/04/11 42991674 Transfer from $ to £ at 1.6604 - - £ - 0 £13,200.43 (changed)
DEAL Closing trades 21/04/11 CYPZGYAP Spot FX EUR/USD - 1.45276 $ -2 1.45366 $-180.00
DEAL Closing trades 21/04/11 CYPTX2AE Spot FX EUR/USD - 1.45365 $ -50 1.45351 $700.00
DEAL Closing trades 21/04/11 CYP2ZVAT Spot FX EUR/USD - 1.45644 $ -10 1.45363 $2,810.00
DEAL Closing trades 21/04/11 CYPVCDAJ Spot FX EUR/USD - 1.45627 $ -10 1.4538 $2,470.00
DEAL Closing trades 21/04/11 CYPV8MAB Spot FX EUR/USD - 1.45495 $ -50 1.45378 $5,850.00
DEAL Closing trades 21/04/11 CYP2ZMAT Spot FX EUR/USD - 1.45592 $ -50 1.45386 $10,300.00
 
My mind boggles at why you use such stupid amounts. It's not realistic and you take trades for 1 or 2 pips. It makes no sense.

Then you said:

Doomberg said:
at one point i in the red big time, but then again i wouldn't of tried risks like i did in real life anyway although it was educational, for anyone who's interested here's yesterday:
Click to expand...

Yeah, right.....so either you would have taken them or you're just wasting your time on demo if you're doing stuff you'd never intend to do. If you can't treat it like money then there's no point doing it and you're better off going live.
 
Im just experimenting Masq... what i mean is that there is no way i'd of risked as much margin as i did yesterday on the 4 figure wins without basing it on fundamentals, i was trying something new and on this occasion it payed off (virtually)... The big trades went against me at the start but i held my balls and they turned around and ended up getting a 92% success rate (lucky day) the loss of $180 was because it was touching base with a resistance line that i had drawn so closed the position and it bounced off as i thought...

And RE taking smaller trades eg 5 to 10 mins, i don't see the problem here? If you are winning then they add up, i'd risk more per point on a smaller trade in real life so 4 pips for one person could be worth 40 of someone elses, its all relative

Not saying im a know it all, im far from it... and this is why im practising on demo
 
Doomberg said:
Im just experimenting Masq... what i mean is that there is no way i'd of risked as much margin as i did yesterday on the 4 figure wins without basing it on fundamentals, i was trying something new and on this occasion it payed off (virtually)... The big trades went against me at the start but i held my balls and they turned around and ended up getting a 92% success rate (lucky day) the loss of $180 was because it was touching base with a resistance line that i had drawn so closed the position and it bounced off as i thought...

And RE taking smaller trades eg 5 to 10 mins, i don't see the problem here? If you are winning then they add up, i'd risk more per point on a smaller trade in real life so 4 pips for one person could be worth 40 of someone elses, its all relative

Not saying im a know it all, im far from it... and this is why im practising on demo
Click to expand...


sorry mate but anyone can bring up a $100k demo account and make a killing. You can even do it in rteal life.

But what is the f*****g point in trading on sim like a spastic eh? what is it doing for you? You are taking stupid risks and convincing yourself (whether you know it or not) that you are gonna be the next tudor-jones or soros, and when it comes to taking measured risks and keeping your nerve you're gonna crap money.

"perfect practice makes perfect" (Steenbarger - -Enhancing trader performance) so unless you practice properly you're pissing in the wind. It's not educational at all, its counterproductive ffs.

my $0.02
 
The main thing im focusing on here is learning... i was hoping to get some constructive input other than "you are wrong, you are wrong". In my opinion it would not be sensible to use any strategy as a 1st time on a real account so im trying a few new ones on the Sim, i see where you are all coming from so i won't bother posting any stuff i try on the demo
 
Doomberg said:
Nope, my live trading account is no way near that... being careful as i start, and with the scalping techniques i am using its not needed to be massive anyway, i did try some interesting yet risky things on my 100k demo yesterday and earned over 10% but i was very lucky, at one point i in the red big time, but then again i wouldn't of tried risks like i did in real life anyway although it was educational, for anyone who's interested here's yesterday:

AL Closing trades 22/04/11 CZKSBZAF Spot FX EUR/USD - 1.45542 $ +1 1.45547 $5.00
DEAL Closing trades 22/04/11 CZKH8YAN Spot FX EUR/USD - 1.45647 $ -1 1.45502 $145.00
DEAL Closing trades 22/04/11 CZKQUPAT Spot FX EUR/USD - 1.45649 $ -1 1.45624 $25.00
DEAL Closing trades 22/04/11 CZKKKJAM Spot FX EUR/USD - 1.45685 $ -2 1.45666 $38.00
DEAL Closing trades 22/04/11 CZKQ7NAQ Spot FX EUR/USD - 1.45724 $ -2 1.45676 $96.00
DEAL Closing trades 22/04/11 CZKLHAAH Spot FX EUR/USD - 1.45731 $ -2 1.45676 $110.00
DEAL Closing trades 22/04/11 CZKJ3TAP Spot FX EUR/USD - 1.45699 $ -1 1.45684 $15.00
WITH Currency Transfers 22/04/11 42991673 Transfer from $ to £ at 1.6604 - - $ - 0 $-21,918.00 (changing to £'s)
DEPO Currency Transfers 22/04/11 42991674 Transfer from $ to £ at 1.6604 - - £ - 0 £13,200.43 (changed)
DEAL Closing trades 21/04/11 CYPZGYAP Spot FX EUR/USD - 1.45276 $ -2 1.45366 $-180.00
DEAL Closing trades 21/04/11 CYPTX2AE Spot FX EUR/USD - 1.45365 $ -50 1.45351 $700.00
DEAL Closing trades 21/04/11 CYP2ZVAT Spot FX EUR/USD - 1.45644 $ -10 1.45363 $2,810.00
DEAL Closing trades 21/04/11 CYPVCDAJ Spot FX EUR/USD - 1.45627 $ -10 1.4538 $2,470.00
DEAL Closing trades 21/04/11 CYPV8MAB Spot FX EUR/USD - 1.45495 $ -50 1.45378 $5,850.00
DEAL Closing trades 21/04/11 CYP2ZMAT Spot FX EUR/USD - 1.45592 $ -50 1.45386 $10,300.00
Click to expand...

I like the fact that you are concentrating on one pair only.
 
Its FTSE that i prefer but it was out of hours so i did EUR/USD because it has the lowest out of hours spread of 2 pips... i do like this pair :)
 
There is constructive input if you decide to read it. I've already said, you're not making enough in trades.But it's all theoretical as who knows what losses you'll run in live trading.
 
Doomberg said:
The main thing im focusing on here is learning... i was hoping to get some constructive input other than "you are wrong, you are wrong". In my opinion it would not be sensible to use any strategy as a 1st time on a real account so im trying a few new ones on the Sim, i see where you are all coming from so i won't bother posting any stuff i try on the demo
Click to expand...

Im not sayin that your strategy is sh1t or that your losses are too big or your winners are too small or whatever, if they are or they arent it will come to light in good time.

Have you seen the film apollo 13? well there is a good bit in there which makes my point nicely.

When they get the bloke who was pulled off the mission in (it's all gone to sh!t by this time), they put him in the SIMULATOR to practice the re-entry with only 4 amps or summit. To do that they have to turn of all the lights so the dude asks for a torch. Of of the squares gives him a maglite or whatever and he says "do they have one of these up there? Don't give me anything they haven't got up there!"

The reason it worked is because by the time they came to doing ot for real they hade done EXACTLY THE SAME THING a thousand times over in their minds, so then it came to doing it for real they could rely on themselves to follow their training.

Its the same with trading on a sim. You can waste a few of your 9 lives, but its only useful if you are doing EXACTLY the same thing as when you've only got one to lose. Otherwise just go and play ping pong or somethin, it is just as useful bit a bit more fun.
 
Yeah you guys are right, im going to focus specifically on what i'll be doing when i go live again (which will be very soon) the only reason i went back demo to day trade is because up until a few weeks ago my knowledge on technical trading was pretty much nil as i'd been used to fundamentals.. so after a few bad days thought its best to learn to walk before run if you know what i mean.. I was still in profit from live trading but making bloopers that were costing me, i just wanted to get more of a solid consistency and to stop breaking my own rules as i was making more mistakes than i felt happy with
 
By background it very limited tbh, but i have done ok out of Bank Shares... many people on the forums say they are the worst sector to trade (but then again on forums everything anyone does is terrible lol) When it came to Bank Shares i simply buy on price action, as a very basic example if RBS has been doing well over the past few months and it fell from 42p to 38p over next week despite no bad news i'd buy and ride waiting for 5%... my bank trades are often only between 2 and 4 days so i guess it could be classed as a swing trade although until recently there was very little in regards to technical analysis, but this is a side i am studying right now and learning a lot
 
You must log in or register to reply here.

Similar threads

F
New FX and Crude Oil trader
Replies
1
Views
2K
Hotch
Hotch
S
Vodafone - Abort, Retry, Fail?
Replies
4
Views
3K
The Baptist
T
T
FXCM - Can they be trusted ??
Replies
10
Views
5K
jverho
jverho
fxkostas
Awesome Invulnerable Capital Strategy
2 3 4
Replies
61
Views
8K
fxkostas
fxkostas
P
My Trading Journal Peaceful_Warrior
Replies
11
Views
2K
Peaceful_Warrior
P
Top