Could you tell us, what makes your loses very huge? please give us the screenshot, so we can make it better in the future...
The reason for my large losses was I had no SL and I was trading the M15 chart.
I'm currently trading the same strategy with a 50pip SL and 10 - 20 pip TP on the H1 charts and I'm more successful.
"strategy with a 50pip SL and 10 - 20 pip TP on the H1 charts". Could you tell us what it mean? and how can you trade with your " account balance now is $26.69" ?.
I'm trading on the H1 Time Frame Chart with a 50pip StopLoss and 10 - 20 pip Take Profit. Sometimes this will change, but I try and stick to it.
I no longer trade the account with account balance of $26.69, read earlier posts.
isnt it too risky when 50 pips SL and 10-20 TP
Thank you for sharing.
why is this thread still going?
if you look at his live results
Live Forex Trading
he clearly closed and lost it all
Yes you are right... And he is about to open a new bigger account as well.. the method seems to be ok though...
With a RR <70% of the time to just break even. Now, if the SL was 10 pips and a TP of 20pips, then you would only have to be right 33% of the time. Much more acceptable. If you can't get the RR to be > 1, ideally 2-3, then the problem is inherent in the system and as a consequence, will struggle to succeed.
If you are going to proceed with this system, please read about money management. There is an abundance of information on this site and the rest of the web.
A string of losses should bring the account on its knees...
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