Quote from cabletrader:
forestgril you just lost any tiny bit of credibility you might have had.
Cable trader, with Your lack of respect to other people, You will lose much more than points on the stockmarket, and this will affect Your trading too. Not my problem anyway.
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To get more credibility (for people searching for real info to treat me seriously - maybe it will help someone) I will tell and show You something.
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Recently for 2 months I was testing a new system on historical data and the results were excellent for me. I decided to start testing on demo and
told about it to my collegue. He told me that he doesn't have time to take care of his very little account (100 USD on Admiral Markets) and that I can play with this money but "try not to lose to fast". I wasn't too eager to play with his "pocket money" (at the same time he is playing CFD's with a sum of 2200USD on Findspreads), but decided to give my system a try, thinking that with real money I will have a better opportunity to learn to control my emotions during trading.
I started on last friday and made a terrible mistake in the beggining, You can see the trading blotter, which made me lose almost 9% of capital in 5minutes or so. It is because I have (by mistake) chosen 0.1 lot instead of 0.01. And 1 pip on eur/gbp is an expensive one, so I payed 5% of capital only for the spread!!!
I was already after 10 hours of hard intelectual work, I was hungry (bar in my physics insitute closed at 3pm, and the nearest shop 15 minutes away, while I have no car) and that's where I think this mistake came from.
That mistake (with fatigue and hunger) emotionally affected my next 2 trades which I consider very nervous. As You can see, I cancelled about 4-5 awaiting limit trades after going down from 96 USD to 82 USD in half an hour or so!
THAT IS WHY, CABLE, I SAY IT IS DIFFICULT TO KEEP TO YOUR SYSTEM, even if You know it is good.
When You lose more than 10% of capital in 1/2 hour, You feel like hit in the head and Your decisions aren't rational anymore. I was almost ready to give up and wrote a email to my friend, that I rather be testing on demo but I decided to take grip on and really keep to the system. A green tea helped a lot
, a little bit of meditation an the next few trades were satisfactory enough.
Keep in mind that I left the instiute at 17:45 leaving 5 trades, one of which was the best one: 5.54USD - it took a precalculated profit level 5 hours later.
Finally, if You take into account, that the first mistake should cost me 0.9, not 9 USD, I would have a little profit (+4%) this day, but as You know it is nothing, because it needs 10 times this amount of trades to say anything about a system.
Thus my trading blotter will be ready within 2-3, weeks, as I told You, and I will post it to get some more credibility, regardless of my results.
It was a hard lesson for me, and I have to admit again: it is really difficult to keep up to Your system. I still lack patience, but I will for sure get more of it with time.
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Finally about OANDA:
Indeed, I am pissed off but after having good results on demo or my friends account (for 2-3 weeks)
I WILL
deposit money to Oanda account and test it for the last time. If everything will be ok, I will write a post, that "OANDA IS NOW OK", but if they will keep cheating and stealing", I will keep "whinging and whining" about the institution to protect the neophytes or just traders looking for advice.
CLEAR OR NOT?
) because I haven't deposited money yet. I am loking for a different broker, but maybe I will find out that Oanda is the best for my trading style anyway! In fact this time if I loose, the only one to blame will be my broker, because I spent a lot of time on testing my new system. Maybe I will give Oanda a last chance and open a new thread "OANDA's LAST CHANCE" 