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  1. #1
    Solid Member uaktags's Avatar

    Getting over a rut | Starting out !!!

    I'm curious as to what you guys do or did, when starting out in the terms of funding your accounts. Currently, just like anyone planning on going to the casino, I already have a number that I am ready and know I could lose for that session (month or 2weeks in case of BO). From there, I test learn and follow strategies that appear to make logical sense to me and that I feel confident with in the demo. With that confidence, and that limit, I make the trades and I find out if I really am as confident with it or not.

    This seems like perfect logic to me, but my question is when you've found strategies that didn't work, or found yourself in a rut, what did you. Pull back and go back to the sim for a while?


    Then also, i guess to go in line with Money In Money Out, at what point after your initial deposits, do you stop making deposits, and simply trade off of profit. For instance, you deposited 200$, after alot of good and bad trades, you're now at another month and sitting with only 160 or maybe greater than the deposit with 350. Would you still add in another deposit or would you sit with what you have and still trade with what's left.
    Last edited by uaktags; 09-05-2014 at 02:58 PM.

  2. #2
    Rookie Member
    Quote Originally Posted by uaktags View Post
    I'm curious as to what you guys do or did, when starting out in the terms of funding your accounts. Currently, just like anyone planning on going to the casino, I already have a number that I am ready and know I could lose for that session (month or 2weeks in case of BO). From there, I test learn and follow strategies that appear to make logical sense to me and that I feel confident with in the demo. With that confidence, and that limit, I make the trades and I find out if I really am as confident with it or not.

    This seems like perfect logic to me, but my question is when you've found strategies that didn't work, or found yourself in a rut, what did you. Pull back and go back to the sim for a while?


    Then also, i guess to go in line with Money In Money Out, at what point after your initial deposits, do you stop making deposits, and simply trade off of profit. For instance, you deposited 200$, after alot of good and bad trades, you're now at another month and sitting with only 160 or maybe greater than the deposit with 350. Would you still add in another deposit or would you sit with what you have and still trade with what's left.

    My suggestion is to play it smart. I mean binary brokers are tricky outfits that may lure you for making bigger deposits showing you good performance in your account, faking trades, etc. I eat that Sh@t trading with binary24 broker. Now I moved to Optiontrade but still testing it on demo (4 month) reading reviews, asking feedback, etc, etc. So don't increase your bets till you make up for you initial deposit.

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by uaktags View Post
    I'm curious as to what you guys do or did, when starting out in the terms of funding your accounts. Currently, just like anyone planning on going to the casino, I already have a number that I am ready and know I could lose for that session (month or 2weeks in case of BO). From there, I test learn and follow strategies that appear to make logical sense to me and that I feel confident with in the demo. With that confidence, and that limit, I make the trades and I find out if I really am as confident with it or not.

    This seems like perfect logic to me, but my question is when you've found strategies that didn't work, or found yourself in a rut, what did you. Pull back and go back to the sim for a while?


    Then also, i guess to go in line with Money In Money Out, at what point after your initial deposits, do you stop making deposits, and simply trade off of profit. For instance, you deposited 200$, after alot of good and bad trades, you're now at another month and sitting with only 160 or maybe greater than the deposit with 350. Would you still add in another deposit or would you sit with what you have and still trade with what's left.
    whatever you start with, only trade what you can lose, and it sounds like that is what you are doing. After that, stick with money management, I use 2% of my account on each trade. If you lose too much maybe deposit more, but only what you can afford, but if you win I wouldn't, I would just leave it in and keep building it up, and then at some point recapture my initial deposit and then just trade off of profits.

  4. #4
    Legendry Member Okane's Avatar
    Hey!

    Okay, let's see first what your question is:

    1. How much you should deposit/start trading with?
    2. When a strategy does not work, how do you proceed?
    3. If everything works okay, should you make further deposits?


    Answers:
    1. First you want to test the broker, so you make a small deposit.
    Try out their demo, see if they are good and they let you withdraw.
    It is just like you said, you want see if you are confident with the broker and with your strategy.
    So in this step, the minimum deposit is the best choice.

    2. Before you start trading live you need to consider this: What is your risk? You want to take
    the smallest risk possible when you are just starting to trade live.
    So therefor, what matters is your risk amount in relation to your deposit.
    For example: 200 deposit, minimum trade size: 5$. That is a good ratio.
    But a 200 deposit and minimum trade size of 25$ is obviously no good. So you need to have a bigger deposit.

    3. So you have tested your strategy, it works quite well, should you make further deposits?
    It depends on the following things:
    A: as I said in point 2. Risk in relation to your account size!

    B: Does the broker have any good offers? Higher returns, free withdrawals or anything
    else that could make it worth a higher deposit?

    C: Is it worth the time and stress to only make 1-5$ trades? For me it's not, I rather do 80-100$ but
    I don't trade much, 1-2 trades a day and I'm all satisfied. Therefor I like to have a much bigger deposit in my account.

    D: This one is perhaps the most important question, Can you afford a bigger deposit or not?

    **If your strategy doesn't work, you go back to demo-testing of course!**
    I hope this explained everything! Let me know.
    Last edited by Okane; 09-11-2014 at 07:46 PM. Reason: About the strategy

  5. #5
    Moderator Kolyo's Avatar
    There are really so many serious questions. For me the first and most important question is – Am I ready to jump into real trading? If not why I have to spend money on venture that will be a loser?? If you go back in the history of the greatest traders ever you maybe read about Gann who learned the market for 10 years before he risk a single penny. This is something to think on it! Many people say that demo trading is much different than real trading but actually this is not really that true. So my advise to all newbie traders and wanabe millionaires – Go to CommuniTraders 2.0 and start risk free demo trading !!!

  6. #6
    Rookie Member sindi's Avatar
    hmmm, let me share how my money management is working right now and its a mess. i mean i started small, then built the account gradually, suddenly i had to withdraw my money, i left a small sum, after a while i fund it back again with extra money that i have continue trading at the same time, and thats how its going, if i need additional funds i withdraw for my daily expenss if i earn some extra then i go ahead and deposit and so on. im not sure its a good idea but i guess thats how its been for me.

  7. #7
    Legendry Member Michael Hodges's Avatar
    better to build and not withdraw until there is a substantial amount available each month, probeably give yourself a target like $10,000 or something and then whatever is over that amount each month you could withdraw, that way you would get a semi-regular monthly payment, like an extra paycheck.

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