aliassmith wrote:lukx wrote:will my account survive this ? Lesson for people who doesn't use sl learn on my stupidity
ps. do not ask why I didn't use it.
strange, I see your demo account up up and away.
Your real money account, down down and gone.
First off, I tried to trade without a stop loss. In order to pull it off
you need to have more than HOPE. You need to be willing to watch
the market until you make your profit or make your trade flat. This
could end up being a few days and a lot of in and out positions.
I then realized this type of trading doesn't work well for me because
I trade part-time. I then realized I would rather take 14 tries at 3.5%
risk than get margin called at 70% loss.
So I determined the best course of action is raise my risk to 3% equals
20 pips, have a "hard" 20 pip stop loss, naked chart, use multiple orders, 4 hours a day, 5 days a week, and master my zeroline skills. It is a
method I have been most successful using and like MightyOne said 20%
something a month and a few years you will be wealthy.
$1000 @ 24%/month @ 22 trading months is over $100,000 trading
24% a month is 6% a week equals net 40 pips a week
11 more months would be $1,000,000 < basically 3 years and less time
it takes to get a college degree (although I already waisted my time and
money to earned one)
Many that go to college end up making between $45,000 and $55,000 a year (wtf right?)
A waitress or cook makes about $35,000 & a bartender that I know makes around $39,000 (we'll leave strippers out of this ) and they don't have to pay off school loans...(throw in the cash under the table and their income jumps to $41,000 to $50,000/yr)
Assuming that when you make more you spend more (better restaurants, travel, larger homes, better cars) the educated are not really that far ahead of anyone else if at all.
Your only hope of freedom is to start a business and/or invest.