I open this thread for serious traders. Anything could happen in Forex, in this thread we talk about how can we be prepared in live trading.
After I demo 3 month, I opened my first live account, and on my way funding it. I will write my concerns in live trading and provide my solution, And I have some questions too, any feedback is welcome!
Issue A: slippage?
I don’t look at any Time Frame smaller than H4, I use pending orders only, all the pending orders placed 25 pips away or more.
Issue B: stop hunting?
My platform have server based stops, I don’t use them, I will exit my position once close get across my stop. I have the discipline now after 3 month demo.
Issue C: Money safety?
Starting with a small account which I can afford to lose, Bank the profit, If I likely can make any J
Issue D: Re-Quoting?
As a beginner, I have very small account, they say 95% traders lose money, they say every thing with your broker is fine when you are losing money. But it is another thing when you beginning taking down the house.
Suppose re-Quoting did occur in the worst scenario, what can I do? As I said earlier, be prepared for everything: What’s kind stuff have legal effect when I argue with their customer service? Suppose I post all my pending orders at FF before I send the orders to the brokers server, Can the trading journal in FF save me after the broker mess me around? If I did not post my trading journals here, what’s about post it in google/yahoo groups?
Issue E: changing my order?
Is there any broker do this kind of ugly stuff? I have no idea.
Forex is a tricky business, just like others, what I have written is the worst case scenario, I hope all this bad stuff do no exists. The point is we hope the best and prepare for the worst, what’s your suggestions?
Happy Trading!
-- Aidans
After I demo 3 month, I opened my first live account, and on my way funding it. I will write my concerns in live trading and provide my solution, And I have some questions too, any feedback is welcome!
Issue A: slippage?
I don’t look at any Time Frame smaller than H4, I use pending orders only, all the pending orders placed 25 pips away or more.
Issue B: stop hunting?
My platform have server based stops, I don’t use them, I will exit my position once close get across my stop. I have the discipline now after 3 month demo.
Issue C: Money safety?
Starting with a small account which I can afford to lose, Bank the profit, If I likely can make any J
Issue D: Re-Quoting?
As a beginner, I have very small account, they say 95% traders lose money, they say every thing with your broker is fine when you are losing money. But it is another thing when you beginning taking down the house.
Suppose re-Quoting did occur in the worst scenario, what can I do? As I said earlier, be prepared for everything: What’s kind stuff have legal effect when I argue with their customer service? Suppose I post all my pending orders at FF before I send the orders to the brokers server, Can the trading journal in FF save me after the broker mess me around? If I did not post my trading journals here, what’s about post it in google/yahoo groups?
Issue E: changing my order?
Is there any broker do this kind of ugly stuff? I have no idea.
Forex is a tricky business, just like others, what I have written is the worst case scenario, I hope all this bad stuff do no exists. The point is we hope the best and prepare for the worst, what’s your suggestions?
Happy Trading!
-- Aidans