1st time I think I've heard of a live Oanda prob ST...sorry tho I can't be of any more help for ya...do keep us posted tho as I wanna hear all the how, what's 'n why's as this is who I plan ta go live with in Jan.
& Sherri....oh I wasn't mad or anything about the income ? u asked....sorry if it came off as such...wasn't the intention whatsoever.
I think that a rolling mimimum 10K bank should be sufficient to be able to weather most any storms....as long as we are talking about one who as ample experience such as yourself. Meaning being to use mental stops w/out gettin into too much trouble. I really think mental stops is the way ta go hands down....it's just too e z for any outfit ta run ya whenever they want. Of course the only prob w/that is....u can't walk away w/an open position out there....unless of course you're already in the green & decide to go ahead & set profitble sl..which of course could be taken out just as easy. Then again....as we know & for this reason, it's really not all that wise ta walk away when u have trades goin....a definite downside.
My plan is to begin fairly small & w/2 accts....one for scalps & the other for long term 75+ moves. Feelin pretty good right now about the scalping strat I wanna implement....still workin on the longer range strat.....only just oudda the gates w/this one. The idea is to begin by withdrawing 30% of any monthly profits whatever they happen to be if I am fortunate enuff...then as I am able to build the accts I will hopefully increase that 30% by incriments of 10% at each predetermined level as the acct grows. Of course in the beg I will need ta play it all very conservative w/the mental stops...so any profits will most likely be a very slow go for quite awhile. But my goal is to take 1K (500 for scalps & $500 for the long term acct) & build it to that 10K # before I start increasing lot size & the mental stops. I am giving myself just a 1K a yr budget too....so if I happen to go belly up before Dec....back to the demo side it will be to regroup til Jan.
I really feel tho that once @ 10K...it all gets much easier but I really dont see that happening (on my withdrawl plan/hopes) for quite sometime....at least a yr...& of course longer if I happen ta go belly up & have ta wait the rest of the yr out b4 reloading. Agreed however that it is a good idea to consistently take some out on a monthly basis if u r able to....+ when the Mrs see's that I'm actually takin some home & the trading acct is growing at the same time, she may become jus a tad more agreeable to it all....maybe.
What I'm hopin ta do is double my wnkd bank of $500 this wknd....starting w/a 20% bet ($100 NFL wager) & if it hits....hope I can get on a lil roll of sorts so I can continue bettin at that level...if I happen ta hit the 1st one that will at least assure me 2 more bets ta hit 1 at that level & from there the odds turn ever so slightly to my favor. So who knows....maybe that 1K 4x beg bank will really only cost 1/2 that. Here's hopin.
I'll have the laptop w/me so I'll be able to stay in touch...also gonna be introducing my buddy to 4x....show him the ropes....he's into risk taken (he's the one who 1st taught me to gamble & thus adhere to sound/strict money mngmnt prinicpals) so I'm guessin he'll get into 4x once he see's the possibilities....only prob is....he's not really into finance & economics.....but perhaps he'll learn to enjoy it all once he see's the prospects.
OK....back to scaling out of my mistakes this AM...have given back approx $300 since cashing in my 1K pip usd/chf shorts the other day.....grrrrr!!!!
