aliassmith wrote: MightyOne wrote:
aliassmith wrote:...although $120,000 with $30,000 in capital is nothing to sneeze at...
Ok smart guy not everyone can be a millionaire like you.
Some people have to work their way up with baby steps.
My goal is 400 to 600 pips a month at $500 to $1000 a pip
although $120,000 a year is a decent stepping stone.
Flipping back and forth between micro and macro trading will get the job done fast.
you have $10,000 and increase your account to $15,000 using a 10 minute chart and trading in the direction of the longer term charts.
you then trade the long term chart directly risking most of your $5,000 gain using a $10,000 account value to size your trade.
If your $5,000 is a 250 pip stop (you don't have to risk all of it) and you make 280 pips then you are up another $5,600.
You would keep long balling until you take a hit:
$10,000 to $15,000 (trading small time frames)
Risk upwards of $5,000 (we start trading the long term chart only)
+$5600, + $2800, +$3600, -$3200 and you are left with $23,800 total.
$23,800 into $35,700 (again by trading small time frames)
Risk upwards of $11,900 (again we trade the long term chart only)
+$13300, +$6600, +8500, -$7600 and you are left with $56,500
Of course you have to be complacent to the possibility of losing weeks or months of profit...
It is worth it in my opinion