T's Journal

If you don't know where to start, start here! Don't be afraid to ask questions.

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TygerKrane
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Postby TygerKrane » Sat Oct 23, 2010 5:33 pm

dragon33 wrote:...but you need to know that trying to trade doesn't need to cost much.

Only $28.95 a week tman!

Of course it's not planned like that, I'd deposit $100 into my Micro account and work my way up and down from there, noting/adjusting the trading plan, and noting/confronting the different emotions that would come into play; from elated that account went up, neutral-but-hopeful that it was back at starting deposit, worried when I lost %20 of original, upset/vengeful when I lost %50 of original, desperate/wondering if I should continue FX career when I lost %80 of original deposit.

I would grind the account down to the last "even-with-only-1-lot-gives-me-a-15-pip-margin-call." And I would still fight for how long I could keep that going, building it up and down from that one, stupid, 1 lot until...
Then I'd wait a week or two, let my head cool off, review things (trades, trading methods & psychological), and start again!! :smt023
<clearly illustrated here>

But that is only one philosophy for method of learning.

I guess it is safer to only open a real account when you KNOW that your account will mostly be going up, but personally, there's no way I could demo long enough through the all the trials and tribulations to find that day out.
My thrill / 'sense of self-motivation' comes from, "Maybe THIS trial deposit will be THE ONE where I prove that I've LEARNED my lessons, that I now SEE!" {either that, or I grind it down again and note the further lessons.} After [highlight=violet]several[/highlight] weeks of successful confidence, I will then proceed on a plan to match market profits with outside deposits again. No need to rush with my outside deposits tho, I don't want to add to my initial trial deposit when [font=Comic Sans MS]there is still the chance[/font] that I could grind it down to zero; after each initial trial deposit, I'm ONLY trying to extend my learning off of other people's money.

[highlight=black]~Krane [/highlight]

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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tmanbone
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Postby tmanbone » Sat Oct 23, 2010 8:20 pm

There's no denying that trading is one tough endeavor. We're comparing ourselves with traders that have been at it for years. TRO started in the mid 70's, MO, not sure how old he is, started as a teenager. Dragon admittedly said it took him eight years to become consistent. es/pip, I'm sure it's been awhile also, I do recall him saying he tried a strategy of a friend for 8 or 9 months and couldn't get it. I also recall him saying 16 hours at the monitor was not out of the ordinary for him. As of today there are 12218 members of the forum. If you never quit you will have never failed.

What about .10 cent a pip?
"The simplicity of the markets is it's greatest disguise"

T

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TygerKrane
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Postby TygerKrane » Sat Oct 23, 2010 10:21 pm

Yes! That is what a Micro account allows for.
My AJ & EJ are .12/pip.
EU , AU, UJ , UChf are .10/pip.
I don't recall what GU is worth.
Other guys here can give you the official word on how many actual units of currency you are purchasing be it 1K , 10K, 100K. I honestly have no idea, as long as I can calculate what percentage of my account is lost at 20pips, and how much in percentage that my account has changed per day, I'm good. :oops:

With the new 50:1, 1 lot AJ requires $20, 1 lot EJ requires $30.

(I'm at FXCM Micro)

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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tmanbone
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Postby tmanbone » Sat Oct 23, 2010 10:52 pm

Send me the link to your trade plan. Scalp, swing, or position trade? What are your hours? How much time do you monitor the markets? How many pairs are you watching?
"The simplicity of the markets is it's greatest disguise"



T

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trueblueTEX
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Postby trueblueTEX » Sun Oct 24, 2010 12:19 am

Yes, inquiring minds want to know!

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tmanbone
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Postby tmanbone » Sun Oct 24, 2010 9:23 pm

Image

Sunday evening gap trade.
"The simplicity of the markets is it's greatest disguise"



T

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tmanbone
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Postby tmanbone » Sun Oct 24, 2010 11:09 pm

Image
"The simplicity of the markets is it's greatest disguise"



T

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trueblueTEX
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Postby trueblueTEX » Sun Oct 24, 2010 11:26 pm

Hey Tman, I never quite understand what the "gap trade" was all about but after you posted this most recent one, I went back and read the whole Gap thread. I understand what it is, now.

Do you always play a pair that includes an Aussie or NZ part?

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tmanbone
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Postby tmanbone » Sun Oct 24, 2010 11:44 pm

No, not especially, I flip through the charts and trade the largest gap. I showed the aud/usd tonight as an example but I traded the Euro for +15 pips. The reason being I'm comfortable with it. Newschool has been doing pretty good with the Aussie gaps from what I've seen. You have to be careful they don't keep going. The aud/usd was 40 pips tonight less spread you should have been able to take 35. I've been using a watchlist @
http://www.advfn.com/forex to spot the largest gap on the Sunday 5:00 pm est open. Register, click on the monitor tab and set up your fx watchlist i.e EURUSD, no forward slash.
Last edited by tmanbone on Sun Oct 24, 2010 11:55 pm, edited 1 time in total.
"The simplicity of the markets is it's greatest disguise"



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trueblueTEX
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Postby trueblueTEX » Sun Oct 24, 2010 11:53 pm

Never heard of that site, looks interesting!

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