Time To Start Over

I have decided to start a new Forex demo account, this time closer to what I would actually use, should I decide to invest in it for real:

– Half the money ($5,000 balance instead of $10,000)

– Trading 0.20 lots at a time instead of 1.00 ($200 instead of $1,000)

– Leverage will remain at 100:1

So far yesterday over the course of about an hour I made $12 using the new strategy. It certainly doesn’t seem like anything compared to the wild $1,000+ swings I had using my previous methodology. This is part of the plan: Steadily grow my account’s value over time with small portions of my total account value, rather than essentially betting it all at once for a huge risk-reward payoff. If I do start to have positions that turn against me, I can just hold them and dollar-cost average down (or up, if I’m shorting.)

But now trading has closed until 9 pm Sunday so no more news for today or tomorrow.

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~ by yarcofin on March 22, 2008.

One Response to “Time To Start Over”

  1. You fail at starting over.

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