Forex Trading - Beginners

BBC said:
Update 01

After 1 month, I still have not blown my account....yet :laugh:


Started with $100
Got to $300
Took a big loss (no risk management)
Recovered losses

Current balance $260

No withdrawals yet
Click to expand...
Update 02

Got to $487
Took multiple major losses this month
Almost blew account :laugh:
Current balance $50 :laugh:

We go again
 
Where are you trading if I may ask? Also, does anyone know if we are allowed to trade USDZAR? Last time I heard this was banned for South-Africans?
 
jpreyneke said:
Where are you trading if I may ask? Also, does anyone know if we are allowed to trade USDZAR? Last time I heard this was banned for South-Africans?
Click to expand...
Vantage as my Broker and Metatrader 5 as the trading platform.
Yes, it is allowed. It is one of the major currency pairs
 
BBC said:
Vantage as my Broker and Metatrader 5 as the trading platform.
Yes, it is allowed. It is one of the major currency pairs
Click to expand...
Hey man
Howsit going
Any updates? Curious to know if you're still in it or gave it up?
 
Pho3nix said:
FTMO will last as long as prop firms are supported.
Else go for the ones attached to brokers ala IC Funded or Oanda Prop Trader
Click to expand...
Simple. I'd say FTMO & for futures TOPSTEPs consistency features are tough but aid longevity..
 
Pho3nix said:
Futures are unsupported in SA unless to know a firm that allows RSA peeps?
Click to expand...
Bro... I did jus say TOPSTEP. There's the whole lot of em. I backtested my model to near stoic discipline only to find half the day is gone when you're dealing with real live CME data. Not our little cfd friends. Account for RTH & ETH if developing a model for futures. Lol.
 
LaraLopez said:
If you're looking to test automated strategies without spending hours analyzing charts, https://www.forexflexea.com is worth checking out. It uses a flexible trading algorithm that adapts to market changes, which can be helpful for beginners still figuring things out. I’ve seen decent results tweaking the settings to match my risk level.
Click to expand...
MTI's bot is better when it comes to automated strategies.
 
anelevilakazi12 said:
I backtested my model to near stoic discipline only to find half the day is gone when you're dealing with real live CME data.
Click to expand...
I’m curious about what you mean here? Are you back testing on the day you are trading?
 
cguy said:
I’m curious about what you mean here? Are you back testing on the day you are trading?
Click to expand...
Backtested[trading -& thus documenting- historical data], while forward testing a small or even micro account... Naturally these will be CFD's. I have it all on notion. I believe reading someone elses' journal entries could be a a gold mine for broadening perspective.

After a few cycles of successful accounts, I bought the challenge.
 
anelevilakazi12 said:
Bro... I did jus say TOPSTEP. There's the whole lot of em. I backtested my model to near stoic discipline only to find half the day is gone when you're dealing with real live CME data. Not our little cfd friends. Account for RTH & ETH if developing a model for futures. Lol.
Click to expand...

SA is not allowed on Top Step which tells me you aren’t actually doing anything on the platform

help.topstep.com

Eligibility Frequently Asked Questions - Who is eligible to participate? | Topstep Help Center

help.topstep.com help.topstep.com
 
I suppose an onlooker seeking guidance/information will ask me to prove it. You seem to have already evolved from that.
 
anelevilakazi12 said:
Backtested[trading -& thus documenting- historical data], while forward testing a small or even micro account... Naturally these will be CFD's. I have it all on notion. I believe reading someone elses' journal entries could be a a gold mine for broadening perspective.

After a few cycles of successful accounts, I bought the challenge.
Click to expand...
What I meant, was, how is “half the day gone”? Surely you backtest on prior days, and forward test on subsequent days?
 
cguy said:
What I meant, was, how is “half the day gone”? Surely you backtest on prior days, and forward test on subsequent days?
Click to expand...
I was backtesting & forward testing on CFD's or Electronic Trading Hours(I didn't know much about RTH or that on CTower(the other platform offered not ninja trader, cant recall exact name) doesn't let me trade after market close.


My strategy had me hold overnight sometimes... or trades would show up at night sometimes. Not being able to do either of these messed with my model, quite heavily.
 
anelevilakazi12 said:
I suppose an onlooker seeking guidance/information will ask me to prove it. You seem to have already evolved from that.
Click to expand...
I have a few prop accounts. I am aware of the landscape. Don't lie and say TopStep etc. Futures etc when South Africa is clearly not allowed to be on the platforms and you can't prove you are on the platforms yourself?
 
Pho3nix said:
I have a few prop accounts. I am aware of the landscape. Don't lie and say TopStep etc. Futures etc when South Africa is clearly not allowed to be on the platforms and you can't prove you are on the platforms yourself?
Click to expand...

Forex Trading - Beginners

Update 01 After 1 month, I still have not blown my account....yet :laugh: Started with $100 Got to $300 Took a big loss (no risk management) Recovered losses Current balance $260 No withdrawals yet Update 02 Got to $487 Took multiple major losses this month Almost blew account :laugh...
mybroadband.co.za mybroadband.co.za
 
anelevilakazi12 said:

Forex Trading - Beginners

Update 01 After 1 month, I still have not blown my account....yet :laugh: Started with $100 Got to $300 Took a big loss (no risk management) Recovered losses Current balance $260 No withdrawals yet Update 02 Got to $487 Took multiple major losses this month Almost blew account :laugh...
mybroadband.co.za mybroadband.co.za
Click to expand...

So no facts. Go sell your course or pyramid scheme elsewhere then
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X