A sad tale, and a few queations

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leveragedopinion
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A sad tale, and a few queations

Postby leveragedopinion » Sat Nov 15, 2008 4:09 pm

I have been demo-trading since early August, first account through Crown forex, then it expired and I headed over to Oanda when the demo never times out.

For not really having a plan, I was doing pretty well, I started the Oanda account at $5K, and within a month, had turned it into $12K.

Which I then reduced to $3K, then back up to $6K, and found my margin called three days later. I am not ashamed of obliterating a demo account, that is what they're for, I am however ashamed of the decisions the led me to hold onto the losers. I busted my account in 5 trades. Not really what you would call good money management.

I have been following TRO's various posts, and downloaded MT4 through Alpari yesterday, because it won't expire, and I want to see what what the dyn-fibs, ans dyn SR RR really look like an a chart. So here's what I need.

Can anyone explain to me how to import TRO's zip files into MT4, can anyone provide a link to the above-mentioned indicators, and can anyone tell me how exactly to "donate" to TRO?

I know all these answers are here on the WWW somewhere, I know I've even seen them, but I have spent the last two days pouring over forum posts, trying to find these basic answers to no avail.

Thanks in advance,

Leveragedopinion

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TheRumpledOne
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Postby TheRumpledOne » Sat Nov 15, 2008 5:52 pm

Make sure MetaTrader is closed.

Extract the zip files in the c:\Program Files\METATRADER\Experts\Indicators folders.

Open MetaTrader.

The Indicators should be compiled and available.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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koolbreeze
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Postby koolbreeze » Sun Nov 16, 2008 5:55 pm

Leveragedopinion,

I wanted to respond to the first part of your post as you have so humbly detailed the agony of your experience in blowing out your account. First and most importantly you have nothing to really be ashamed of. Your story so far is something of the classic tale of early beginners luck followed by the inevitable circumstance of beginner?s failure. You have passed the initiation to one of the greatest clubs on earth, that of the trader. This is not a sad tale but one of great opportunity. No telling what the future will hold for you financially but there is one thing I will guarantee. You will learn more about yourself in this business than in any other endeavor you will ever pursue.

You have come to the right place. TRO is the best. You can learn a great deal from him.

The advice I offer to you in this pursuit would be to protect your capital like a warrior in battle. Take your stops relentlessly. Don?t look back at what could have been if you didn?t stop out. Look for the next good trade.

Also find a trading style that fits your personality.
Sharpen your skills every day.
Enjoy the experience.

There are no Mistakes, only opportunities to learn.

Welcome to the club my friend.

leveragedopinion
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Postby leveragedopinion » Thu Nov 20, 2008 4:52 am

TRO,

I've been demo-trading on MT4 with dyn_fibs_sr, and a few others since monday.

It is un-f**king-believable.

You are the man.

I'll post a chart as soon as I have the time to figure it out.

Thank you.

leveragedopinion
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Postby leveragedopinion » Tue Nov 25, 2008 5:41 pm

Week 2, with TRO's MT4 adaptations.

Last Thursday, I ate about a 70 pip loss, as I regressed back into the old method...."I think the price is going to ___________...."

Regained my senses on Friday and hit my weekly pip target + 16 more.

The questions?

What is the price likely to do?

How likely is it?

What is the likelihood of it happening soon?

The answers to these questions often keep me out of a bad trade, patience =profits.

I can't even begin to explain how clear price action has become.

Now, my only enemy is me.

As long as I stick to the plan, I will profit.

I quit while there still looked to be opportunity on the table today. I had hit my target profit, and let it run until it had doubled with trailing stops. I won't lose money that is not in play. Hit the target, go live my life. I haven't spent more than 3 hours in front of the screen to achieve my daily goals yet.

I have only TRO to thank.

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leveragedopinion
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Postby leveragedopinion » Mon Dec 01, 2008 5:38 pm

Hope you all don't mind if I vent a bit...

I have not been able to find the right side of the trade for the last two days.

Brutal.

MM told me to quit for the day.

Still plenty of action, calling me....I'm staying on the sidelines.

willkohsg
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Postby willkohsg » Tue Dec 02, 2008 7:08 am

yo leveragedopinion,
try using dragon33's MM method..
it's like balance/400 = ur pip value for each pip

for eg u have $400 so $400/400 = $1 per pip.

the key is that with this kind of pip value built in,
it'll take u 10 straight losses of 20 pips SL each to half ur account

1 loss 20 pips = $20

10 straight losses= $200 half ur account

My view is that by the 3rd or 4th straight loss you would "wake up" and not go on to lose ur head. so this MM helps u to save your capital in that sense

Aim for 400 pips a month ( about 20 pips a day)

and u'll double your account. to $800
now next month divide balance by 400 again

now ur pip value is $2 a pip and u repeat that again for the nxt month and so forth.

The thing i like about Dragon33's MM is that it helps you protect ur capital which is i think more important than your trading strategy cos i think all strategies work, just now u manage ur money

just search for dragon33's mm in babypips or kreslik and u can find it :)

just my 2 cents :)
Regards,
William Koh

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