Hello all, I am a newbie in this forum but not at all new because I've been watching this site for few months before signing up for an account to share this.
What I am gonna share today is my plan to achieve my goal by 25pips a day with a risk of 2% per trade. Could this be possible? I am still wondering and I need advices from the folks here regarding this, before venturing into a live account.
I've been trading DEMO for 2 months and I achieved 3000pips in 2 months time, (after deducting losses). So here goes the plan:
1) 25pips a day (which is not truly hard to achieve with a promising system)
2) Good money management, risking 2% of my equity with a SL of 100pips
3) 25pips a day translate into 500pips a month (25x20), of course there will be losses at times but by trading multiple pairs 500pips is truly achievable IMO, this serves only as a guide/reference, daily return could be > or < than 25)
4) 500pips a month x 6 = 3000pips in 6 months time
5) Every semi-annually, increase lot size by adjusting and following to the golden rule of 2% based on your equity size. (refer to the table)
Could this be possibe? Is this a wild dream? I need advices before I will start venturing into trading live accounts.
What I am gonna share today is my plan to achieve my goal by 25pips a day with a risk of 2% per trade. Could this be possible? I am still wondering and I need advices from the folks here regarding this, before venturing into a live account.
I've been trading DEMO for 2 months and I achieved 3000pips in 2 months time, (after deducting losses). So here goes the plan:
1) 25pips a day (which is not truly hard to achieve with a promising system)
2) Good money management, risking 2% of my equity with a SL of 100pips
3) 25pips a day translate into 500pips a month (25x20), of course there will be losses at times but by trading multiple pairs 500pips is truly achievable IMO, this serves only as a guide/reference, daily return could be > or < than 25)
4) 500pips a month x 6 = 3000pips in 6 months time
5) Every semi-annually, increase lot size by adjusting and following to the golden rule of 2% based on your equity size. (refer to the table)
Could this be possibe? Is this a wild dream? I need advices before I will start venturing into trading live accounts.