MightyOne wrote:Enough with the Atomic Wedgies, PRO has had enough
It is easier to make money trading than it is to dial for pizza (fewer buttons to push).
Repeat after me:
1. Trade the breakout
2. Trade the breakin
The breakin could be your stop loss from the breakout trade...
Now trade the bare minimum required to add another zero to your account by the end of the year via returns that are compounded monthly.
If you had $400 to your name it could look like this:
yr1. $4,000
yr2. $20,000 + $20,000 check
yr3. $100,000 + $100,000 check
yr4. $100,000 + $900,000 check
yr5. $100,000 + $900,000 check
If you happen to blow up $100,000 it will only be ~11% of your annual income (It would be like making $45,000/yr and losing 5k)
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You will notice that you only need to make ~ 20% per month.
Your main focus is not blowing up so you trade just enough to reach your long term goals and not a penny more.
What tha?
yr2 for a $20,000 check.
F that!!!
I don't understand. 2. Trade the breakin
15 straight trading days without a losing day.
Default bal. $47.00, current balance $176.10.
I'm sticking to the PLAN.
My trading log 1/2 way through first round. 2.5 rounds to go before scaling back to 2% risk a trade.
Default Bal. 47.00 - Target 460.10 round 1 (30 trading days)
Day/Date/pips/P-L/Bal/lot size
1-4 +52 $8.00 Bal. 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)
11-18 +22 $10.88- $132.24 (5)
12-19 +21 $10.60- $142.84 (5)
13-20 +16 $8.12- $150.96 (5)
14-21 +22 $13.72- $164.68 (6)
15-22 +19 $11.42- $176.10 (6)