As the New Year approaches I recently decided it's time to put my what I've learned into action. I have been staring at charts like a sad case and demo trading for over a year so it's time to see if I can make it work with real money.
I have run the usual course of wanting to make 100% a day from indicators on the 1m to the realisation that I'm not going to give up my day job anytime soon.
So that lead me to the question; How can I make trading work for me?
My plan is to trade and make monthly deposits for the next ten years. I have started with a balance of £1000. When I have made 20% on this, I will start adding £200 every month to the account as extra capital.
My goal is to make 5% per month and compound monthly. I will be doing this by taking 'common sense' price action based trades on the daily timeframe. Most of it will be based on what I have learned in the good PA threads on FF (J16 particularly). I'll risk 2.5% per trade. Profit according to situation, but I will be looking for at least 2.5% back per trade.
Is two correct trades per month really THAT difficult?
I am 31 now. A million before 40 would be nice
I realise there are a lot of threads like this. I'll be posting my trades / progress in here for people to check out, but more than anything, I'd appreciate any advice from any old timers here
Cheers!
I have run the usual course of wanting to make 100% a day from indicators on the 1m to the realisation that I'm not going to give up my day job anytime soon.
So that lead me to the question; How can I make trading work for me?
My plan is to trade and make monthly deposits for the next ten years. I have started with a balance of £1000. When I have made 20% on this, I will start adding £200 every month to the account as extra capital.
My goal is to make 5% per month and compound monthly. I will be doing this by taking 'common sense' price action based trades on the daily timeframe. Most of it will be based on what I have learned in the good PA threads on FF (J16 particularly). I'll risk 2.5% per trade. Profit according to situation, but I will be looking for at least 2.5% back per trade.
Is two correct trades per month really THAT difficult?
I am 31 now. A million before 40 would be nice
I realise there are a lot of threads like this. I'll be posting my trades / progress in here for people to check out, but more than anything, I'd appreciate any advice from any old timers here
Cheers!