Hi, I still consider myself quite new to forex. I've been trading since January 14th and so far I've lost quite more than I've made. Not all because of FAPT's trades, but mostly because of my own trades. I always think I can make some money quick but don't always realize the high risk involved. And I also guess I'm a bit of a gambler :P but I love the thrill and I know there is potential for substantial wins.

Anyways, I'd like to start a thread dedicated to the best strategy to adopt when starting on a fresh page with a tiny amount.

I know it's hard to let FAPT do the work, and not intervene but that's what I'll try to do this time.

Right now the settings I'm using are on these 2 scalping pairs only EURGBP and EURCHF with a 3 pip spread.

Day 1:
Account balance: 101.70$
LRR: 50
MM: True
Lots: 0.1
SimpleHeightFilter: False

All the rest is default.

Why such a high LRR ... well no pain, no gain ! ... I'd like to take it slow and steady; but I can't control it, I want it all right here right now...

I'll let you know how that performs. If you have any suggestions or comments; please feel free. That's what this forum is for!

Mike

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Day 2:
Account balance: 132.80$
LRR: 20 (changed to 20 to reduce risk)
MM: True
Lots: 0.1
SimpleHeightFilter: False

Profit on 1st day : 31.10$ (30.58% Increase)

Transaction Report:
9224603 2009.01.27 14:35 buy 0.10 eurchf 1.5032 0.0000 1.5039 2009.01.27 15:35 1.5039 0.00 0.00 0.00 6.15
9228584 2009.01.27 16:35 sell 0.10 eurgbp 0.9396 0.0000 0.9389 2009.01.27 16:44 0.9389 0.00 0.00 0.00 9.86
9229581 2009.01.27 17:02 buy 0.10 eurchf 1.5024 0.0000 1.5030 2009.01.27 18:09 1.5017 0.00 0.00 0.00 -6.15
9234030 2009.01.27 18:09 buy 0.10 eurgbp 0.9298 0.0000 0.9325 2009.01.27 20:31 0.9313 0.00 0.00 0.00 21.24
0.00 0.00 0.00 31.10
Closed P/L: 31.10

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good start mike. i wonder though if you changing lrr makes a difference. it seems your broker only lets you trade 0.1 lots. this is rather large for a 100 account so your actual lrr is probably closer to 50. dunno how to work this out exactly though to get a lot size greater than 0.1 per trade with a 100 account would take a large lrr i think

I don't know of any optimized settings for a smaller account of a few hundred dollars...unless you just tone down the LRR percentage.

I'm about to go live in the next few weeks with probably $200 thorough EUR/GBP of LRR 45 and EUR/CHF of LRR 15 or 20.

I've had positive demo results with higher LRR numbers on both.