Thread: So I doubled a DEMO, now I have half of my LIVE deposit.

Originally Posted by ;

Yes the signs may be less reliable, but I cannot manage the stoploss on any larger time frames.

So why not simply risk less?

I am already risking the smallest amount possible. Risking less than 2% wouldn't cover the spread and stop. You ought to be aware of that.

Hi!
Quite frankly don't see the problem of merely getting a micro account with tons more breathing space.
It will also solve a lot of the strain. And you may always play higher stakes as nicely after things turn back around.

Even at 30 cent per pip 100 pips are 30$. You may get that in one trade off the daily as only demoned by the EURCHF pin bar another day. If it is 500 $ in a couple of days that increase in capital. What more could you desire?


Also I would like to note that even though James16 has traded little timeframes with his system, he's done this with literally years of live experience and sense for the market. Believing you can merely mimic that's somewhat presumptuous. I can only repeat what anybody will tell you: practice these on the bigger timeframes first (daily is recommended)

What's the rush?

Originally Posted by ;

I believe I've found a means from this'hopeless situation'. And it doesn't involve retreating into a Micro account.

Moving out of a mini account into a micro account isn't a retreat. It is an advance.

Given the same pair of transactions, you may make more cash using a micro account than using a mini account. To know why, read fijitrader's informative article on asymmetrical leverage, loed here:

https://www.nigeriaforextrading.com/...ades-week.html

The article linked above is loed from the Money Management sticky of this beginner's forum. If you haven't read all of that thread, might I recommend you do so? It can allow you to understand that you can trade longer time frames with a small account. Possessing a large stop is actually not a factor.

Dial

Originally Posted by ;

I'm already risking the smallest quantity possible. Risking less than 2% wouldn't cover the stop and spread. You should know that.

Open an account with Oanda or any other micro account broker. You can set any size position you choose. You can open a 1 percent position on your $500 account and risk $5. If your position size=1000, then every pip is worth about $0.10 (ballpark), so your stop loss could be 50 pips.

Tight stops are evil. Evil. They're just plain no good.

Originally Posted by ;

asymmetrical leverage

Thank You for the tip. I did read this post last week, and it is logical. If someone were to look back in the spreadsheet I posted, you will noticed that as my account balance falls and falls, my risk capital appears to remain constant for many trades in a row. However, it really isn't staying constant. It is decreasing as well, but in a fraction of a point, an amount that's untouchable by larger accounts, because of the blocky lot dimensions, so to speak. What you guys are telling me is a micro account may tap into these tiny fractional amounts with little lot-sizes, and make the most of risk capital that's rightfully yours [mine]. Giving me this extra boost, that extra, 10 cents or so. I just barely understand it.

For shits and giggles I'll post my demo account report at weeks end. I have been utilizing price action on 5 and 15 minute charts. Sorry if this pisses you guys off.

Originally Posted by ;

Tight stops are evil. Evil. They're just plain no good.

I agree, they are un natural. They busted my account in half. I attribute the stops.

Which reminds me of my new revision: I now use stops as a preventative step. If price wildly jumps against mepersonally, they'll do their job. However, if price is only inching me against me, I shall chose to shut the order . I think this technique is best used on small time frames, bless them.

Actually, it does not bother me. I've had a'fair' month and it had to come from somewhere In seriousness, MM is the actual secret to success at this enterprise. Fiji's spreadsheet is a true eye-opener for someone that may realize and digest it's impliions.

Originally Posted by ;

I've been using price action on 5 and 15 minute charts. Sorry if this pisses you off guys.

Originally Posted by ;

Fiji's spreadsheet is an true eye-opener for somebody that can realize and truly digest it is impliions.

Where do I locate this spreadsheet??

Rusty

My apologies Rusty, I believed that the connection Dial poasted above was the article w/ attached spreadsheet. The spreadsheet is proprietary to Fiji and was made accessible to the PF members. I thought for some reason that Fiji had allowed it to be posted here, however I couln't loe it using a fast search. Maybe Dial can speak w/ Fiji and ask if he would agree to posting it in the begginner MM thread. It basically takes the Asymetric article and puts it in dictionary form.
Again, sorry for the confusion.

Originally Posted by ;

Where can I find this spreadsheet??

Rusty