Interbankfx competition
hi
Great result MiniMe, "memory management" you mean money management right ?
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yes sorry I corrected the mistake, although it was correct in the previous sentence but some traders have strong eyes.
BTW these are bad results for a trader and I wasn't trading the account
look most of the days i did nothing no trades at all NONE .
Simple MM rules :
if you have a losing trade don't hold on to it, of you have a winning trade , try to make the best of it
when you lose trade less, when you win add to your win
risk no more than what you can afford to lose
if you think you can trade 4 lots that means you can trade 2 (always cut your trades into half)
Or listen to Kenny Rogers ( The Gambler )
Its a great song, cheaper than any forex lesson or book you can buy and it works well
YouTube - Kenny Rogers - "The Gambler"=
the song was written by Don Schlitz, the name reminds me with famous Gambler here
who claims to be a trader
yes sorry I corrected the mistake,
although it was correct in the previous sentence but some traders have strong eyes.
BTW these are bad results for a trader and I wasn't trading the account
look most of the days i did nothing no trades at all NONE .
Simple MM rules :
if you have a losing trade don't hold on to it, of you have a winning trade , try to make the best of it
when you lose trade less, when you win add to your win
risk no more than what you can afford to lose
if you think you can trade 4 lots that means you can trade 2 (always cut your trades into half)
Or listen to Kenny Rogers ( The Gambler )
Its a great song, cheaper than any forex lesson or book you can buy and it works well
YouTube - Kenny Rogers - "The Gambler"=
the song was written by Don Schlitz, the name reminds me with famous Gambler here who claims to be a trader
Many wise words to trade by MiniMe. Thank you for sharing your experience, I'm sure you have made plenty of mistakes before you arrived at your wisdom.
Do you have any other wise words to trade by? Question, when you stop out a losing position, on your next trade you decrease your lot size? Then, if a position stops out a winner, do you increase your lot size?
How can you loose alll your trading, you must have involved your emotion...
this is the proof to show you that I am not trading and its only testing account, my firends knows that I skipped the first week of this month so I only started on the 8th -there was open trades from last month where I used to test and EA and like all the EAs it sucks-
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I felt sorry when I saw my results on IBFX competition, The reason I felt sorry is that I only made 6 testing trades and I was surprised by the results, I am advancing in the competition not because I am good (which I am) but because other guys are losing their money, my rank was 283 at the start and now I am 67 and this is my mini testing account, i am not even trading that acount I use it for test only ( yes I test only live )
I might end up in the top 10 if I don’t lose money at all,and I feel sad for that, cause that means most of you guys have no idea about trading, Iam not here to brag cause there is nothing to brag about, I am here to send a message to most of you guys to learn read and trade less, and if you lose money that means your next lot size should be lower not higher , for God sake guys understand money management, trading without memory management is gambling
look in the results you will find one trader who was in the top 10 last month he is now in the last 10 and lost all his account , its all about memoy management
Wish you all luck and success
MiniMe