Disliked{quote} All you need to do is reduce the risk, and be content with small gains because it all adds up over time. If EUR/USD drops another 25 pips to 1.0815 tonight or tomorrow, then I will cash out with good profit. Total profit will then be over $1,100 for this year. Invested $1,900, gained over $1,100 (+58%) in 3 months, total account balance over $3,000. Keep compounding that, and what do you get by the end of the year? At that rate, my account balance should be $12,000 by the end of the year. That's multiplied over 6 times for 1 year. Then 3...Ignored
So, I decided to start over with a new Pro Trading System. This time, with only one account. Keeping it simple. Wait for the right timing, go all in (max 50:1 leverage) with stop loss at -5%, TP at +50%. Once trade is entered, get off the trading account, and do not check it again until about an hour before close of trading day. Then, if it didn't get stopped out, decide whether to close trade or leave it in and move stop to B/E, repeat only once every day. I am open to trading any currency pair. If it gets stopped out or closed, then do not continue trading that same currency pair or any pair with the same currencies for at least one whole day. For the next day, I must trade another pair that's completely unrelated to avoid revenge trading.
I'm starting with a demo account of $100k (Level 1). Goal is +100% ROI, then replace it with $100 Live (Level 2). Gain +100% ROI with that, then deposit another $200 (Level 3). Gain another +100% ROI, then deposit $700 (Level 4). Gain another +100% ROI, then withdraw $500.
From there on (Level 5 and up), withdrawing approximately 35-50% of the profit after gaining +100% ROI on each level.
Yesterday morning, I saw that CAD/JPY was set to dump, so I entered a short position with max available leverage. (I think it's 20:1 or 25:1 leverage for that pair.)
Stop loss at -5%, TP at +50% ROI.
Before the end of day, when I checked it, it had dumped good, then also bounced pretty good, and looked like it might go up again, so I closed at around 30 pips profit (+5.54% ROI) for the day.
Not bad to start with.
See ya next week.
You cannot fail if you never give up.
New Pro Trading System (Demo) Return This Month:
-14.8%
2