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Forex Blog Money Trek Settings
Forex Blog Money Trek Settings
| Money Trek Settings |
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| Friday, 23 January 2009 21:34 | |||||||||
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Using the Money Trek’s setting properly will give you the most benefit. Here are a few tips to get you started. When you first get started trading currencies, you should always become deeply knowledgeable about a single currency pair at a time. Trading multiple pairs will make it difficult to succeed at first. For this reason pick a pair and then select the pair from the “Symbol:” Option. You also have the options of changing the Interval, Number of Bars and Initial Balance. I recommend using settings that are close to what you will be trading in your live account. After all, isn’t this what training is all about. Interval: For traders with large accounts 10K and bigger you may want to trade longer time frames, 1 hr and higher. Smaller accounts should consider shorter time frames. Bar Number: I like to use enough data to test several days of my strategy at a time. Just multiply the number of bars you are using in an hour by 24 and enter that here. Here’s an example. If I am going to test myself using 15 minute charts, multiply 4 by 24 by the number of days you want to study. Then enter it in here. Initial Balance: Enter the amount you think you will actually be starting with. It doesn’t make any sense to learn to trade through 500 point draw downs, if you won’t be able to do that with your real account. Once you have these properly set, hit the “Challenge Me” me button and get started. 
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| Last Updated on Tuesday, 27 January 2009 18:19 |