Journey to me pot of GOLD - Page 4
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Thread: Journey to me pot of GOLD

  1. #31
    Hi Mikhail,

    I have seen your journal just now - and I am sorry to see that you discontinued your experiment. I hope you'll resume it and be prosperous in it.

    Only a comment on MM. I know that you have opened up to ten positions simultaneously risking around $107 in each. This could be an acceptable risk in the event the pairs were completely uncorrelated. But the majority of the pairs ARE very highly connected, and so you efficiently trade just one position that's probably much larger than that which is warranted by your own MM rules.

  2. #32
    Quote Originally Posted by ;
    Hi Mikhail,

    I've seen your journal just today - and I'm sorry to see that you discontinued your experiment. I expect you will resume it and be prosperous in it.

    Just a comment on MM. I know that you have opened up to ten positions concurrently risking around $107 in each. This would be a decent risk in the event the pairs were totally uncorrelated. However, the majority of the pairs ARE very highly connected, and so you efficiently trade just 1 position that's probably much larger than what is warranted by your own MM rules.
    Hello,

    Nice to see you . You're correct I discontinued my fozzy experiment and have moved on to better things. Anyways the Journey to me pot of gold nevertheless continues but I'm simply not publishing it in this journal anymore since Im not sure how much aid it provides me or other people by submitting it. Anyways maybe as I get closer to my goal that I will repost in this thread simply to show others it can be done.

    Regards,
    Mikhail

  3. #33
    Fantastic luck, my friend!
    Sorry to hear your profits vanished, I'm sure you'll recover soon with increased pile of gold:--RRB-

    I was wondering if it is possible to recommend your FX broker, I'm very fascinating in EA trading myself.

    Thank you Beforehand,

  4. #34
    Dear Mikhail

    Just what I see in link removed I though it may be useful to you...

    -----------------------------

    Leverage the Killer

    Most professional traders and money managers commerce one standard lot for each $50,000 in their account.
    If they exchanged a mini account, this implies that they exchange one mini lot for each $5,000 in their account.
    Let that sink in your mind for a couple seconds.
    If pros trade such as this, why do less experienced traders believe that they can succeed by trading 100K standard lots with a $2,000 account or 10K mini lots with $250?
    No matter what the forex brokers inform you, don#8217;t open a #8220;regular account#8221; with only $2,000 or a #8220;mini account#8221; with $250. The number one reason new traders fail is not because they suck, but because they're undercapitalized from the beginning and don#8217;t understand how leverage really works.
    Don#8217;t put yourself up to fail.
    We recommend that you have at least have $100,000 of trading funds before opening a #8220;regular account#8221;, $10,000 to get a #8220;mini account#8221;, or $1,000 to get a #8220;micro account#8221;.
    So if you only have $60,000, start a #8220;mini account. If you only have $8,000, start a #8220;micro#8221; account. If you only have $250, start a #8220;demo account#8221; and stick with it until you come up with the extra $750, then start a #8220;micro account#8221;.
    If you don#8217;t recall anything else in this lesson, I plead that you remember what you just read above.
    Okay, please re-read the prior paragraph and ingrain it in your memorycard. Just because brokers allow you to start an account with just $250 doesn#8217;t mean that you should and that I #8217;m going to explain why.




    -----------------------------------------------------



    Quote Originally Posted by ;
    Hi,

    My name is Mikhail and that I have a fantasy of turning $2,000 to $100,000 together with forex as my sole vehicle of achieving this. I know that it seems unrealisic but it is statistically likely and with forex really possible.

    That is the mission and these are my rules:

    1) Continue Trading Until I lose the funds of $2000 or that I gain $100,000 total in profit

    2) All transactions must be completely mechanical with the assistance of expert Advisors.

    3) Each selected expert advisor must be run until it has completed 100 trades after which its effectiveness will be reassessed, either for continuing use or removal.

    4) When adequate capital growth is attained new trading systems will be introduced to the portfolio to reach diversity and stability in the investment

    5) Trading will continue with this live account for the duration of 5 years should rule one is still true.

    The purpose of this diary is for you men to keep me at check. If I start getting greedy or begin diverting in the plan I want you to hit me in the back of the mind to help keep me on track.

    What you will see in this diary are live trades in FXDD live mini account, I'll post transactions revealing the currency symbol, lots, and profit/loss in Dollars not in pips, because the aim here is additionally dollars not pips.

    OK next article will refer to the initial system in the portfolio.

    a firm handshake,
    Mikhail

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