Mt4-iron1 (By forex_trader_120443)
The user has deleted this system.
Mt4-iron1 Discussion
Apr 04, 2013 at 18:07
525 Views
3 Replies
forex_trader_120443
Member Since Apr 04, 2013
11 posts
Apr 12, 2013 at 18:12
The trade today (loss) in gold was a test, it really didn't affect my equity or anything. No, I won't be trading gold in this account. It messed up my stats. Yeah, I should have done it in a demo account. If I want to trade gold, I have to set up yet another account with a different broker because this broker isn't good with gold.
NOTICE:
In the next few days, I'm planning on adding some funds to this account and using it as a swing-trade only account, taking trades off the 4 hour and daily charts. This broker is not very good with my 5 minute scalping strategies. Keep in mind that drawdown can go higher and stops are naturally wider on higher timeframes. I haven't had it happen to me since last year, but a stop loss can happen at any time.
I will create an account with a different broker for intraday trading.
NOTICE:
In the next few days, I'm planning on adding some funds to this account and using it as a swing-trade only account, taking trades off the 4 hour and daily charts. This broker is not very good with my 5 minute scalping strategies. Keep in mind that drawdown can go higher and stops are naturally wider on higher timeframes. I haven't had it happen to me since last year, but a stop loss can happen at any time.
I will create an account with a different broker for intraday trading.
forex_trader_120443
Member Since Apr 04, 2013
11 posts
Apr 25, 2013 at 15:00
Guess why I never allowed this to autotrade!!!??? I'm making the transition in this account to daily bars, which isn't the same as what I had been doing, grinding out 20 or so pips intraday. If you want to see what this account was for 3 months, keep an eye on the Thinkforex account because that's the scalping account. https://www.myfxbook.com/members/trade4you_brazil/intraday-trades/541534
I didn't let it autotrade because bad things usually happen when I change things, like position size. The nice run-up was when I kept a ** fixed lot size and never deviated from that **. I'm still keeping this account, but it will be for trades off the daily charts only. I will have some new rules in place which will lower the risk. As in the most recent mistake, which was ignoring the correlation and letting position size get out of control. Position size was too big on 3 different trades, all losers.
In the future, I won't take a short GBP and EUR or long CAD because the negative correlation is too high for my risk profile.
In the future, I will not take more than 1 position, overnight.
In the future, I will only use NY close data.
In the future, I will never short the AUD. The interest was killing me.
I didn't let it autotrade because bad things usually happen when I change things, like position size. The nice run-up was when I kept a ** fixed lot size and never deviated from that **. I'm still keeping this account, but it will be for trades off the daily charts only. I will have some new rules in place which will lower the risk. As in the most recent mistake, which was ignoring the correlation and letting position size get out of control. Position size was too big on 3 different trades, all losers.
In the future, I won't take a short GBP and EUR or long CAD because the negative correlation is too high for my risk profile.
In the future, I will not take more than 1 position, overnight.
In the future, I will only use NY close data.
In the future, I will never short the AUD. The interest was killing me.
forex_trader_120443
Member Since Apr 04, 2013
11 posts
Apr 25, 2013 at 15:00
oh yeah, I will never interact with losers in internet forums. They will try to put their negativity onto you. It can affect your performance, as it did in my case. Stay away from forums.
forex_trader_120443
Member Since Apr 04, 2013
11 posts
Apr 26, 2013 at 08:16
I emailed myfxbook because their tracking isn't calculating the correct amount. If I had 114% and lost 52%, the return is not 1%.
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