prochargedmopar wrote:Only way it will change is if there is a deletion of lines, squiggly or other, NOT an addition.
Last 10 days of trading log.
Actual starting balance 598.50
Default Bal. 47.00 - Target 460.10
Day/Date/pips/P-L/Bal/lot size
1-4th +52 $8.00 - 55.00 (2)
2-5 +32 $6.70 - 60.96 (3)
3-6 +50 $9.00 - 69.96 (3)
4-7 +32 $6.38 - 76.34 (3)
5-8 +18 $5.49 - 81.83 (3)
6-11 +41 $7.30 - 89.13 (3)
7-12 +22 $9.19 - 98.32 (4)
8-13 +18 $7.04 - $105.36 (4)
9-14 +19 $7.20 - $112.56 (4+)
10-15 +22 $8.80 - $121.36 (4)
Doubled money in 10 days.
My money management trading plan: "Pro's 20 pips to $Freedom$"
For the impatient the first 2-3 levels will be the hard part, after that the ball starts to ROLL.
Starting balance based on increments of 3.
$30.00, $300.00, ect
First Go round is using 10 cent pips to prove to yourself and to build confidence that you can succeed in your quest for freedom. A Dry Run.
New balance/Lot size/Daily profit/ # of days trading
Phase 1:
$30 - 10cents - $2per day - 15 days
$62 - 20 -$4 - 8
$92 - 30 - $6 - 5
$124 - 40 - $8 - 4
$154 - 50 - $10 - 3
$178 - 60 - $12 - 2
$234 - 70 - $14 - 2
$262 - 80 - $16 - 2
$294 - 90 - $18 - 2
$330 - $1 - $20 -2
$370 - $1.10 - $22 - 1
$392 -$1.20 - $24 - 2
$440 - $1.30 - $26 -1
$466 - $1.40- $28 - 1
$494 - $.50 - $30 - Time to go to FREEDOM Level
Start with $494 and use $2 pips!!!
Do it all over again but move Decimal one place to right..
Phase 2:
$494 - $2 - $40per day 3 days
$614 - $3 - $60 5
$914 - $4 - $80 4
$1234 - $5 - $100 3
$1534 - $6 - $120 2
$1774 - $7 - $140 2
$2054 - $8 - $160 2
$2374 - $9 - $180 1
$2554 - $10 -$200 2
$2954 - $11 - $220 2
$3394 - $12 - $240 1
$3634 - $13 - $260 1
$3894 - $14 - $280 2
$4454 - $15 - $300 PER DAY INCOME!!!
You add up the days....
20 pips a day baby.......I won't write up Phase 3 BUT.
START WITH $20 PIPS...... and finish with $3000 a day income...HEHEHEHE
It is better to do something similar to value averaging with your money management.
Lets say that you have $400 and wish to be a millionaire in four years:
You do the math and see that 20% compound per month will get you there.
At the end of the first month you have made 160% and you reduce your position size by 87.5%
At the end of month two you show a profit of 13% and increase your position size by 54%.
If you decide to stick to this goal that would mean that you are making $250,000 per year even if you can't pocket it just yet
If you do not want to fall below your goal during any month then you could aim for 30% compound and adjust your position size accordingly.