I'm in a good mood and I want to test something out so I thought I'd share.
Trading solely EUR/USD (spot) and using fixed risk and fixed stop-loss of respectively 10% and 20 pips per trade, I'm going to trade until I gain or lose 100 pips during the month.
Conveniently, next Monday is July 1st so I'll have a tidy 6 months until December 31st to test this out. I have put $500 on a Oanda account which I just linked to Trade Explorer for tracking purposes. I'll hook up myfxbook too.
So for instance in July I will start with $500, and risk 10% per trade ($50) with a 20 pips SL for each trade (i.e. 0.25 standard lot per trade). Even though I will only trade once a day on average it seems unlikely that neither +100 or -100 be hit over the course of a whole month, therefore I will either end up with $750 or $250.
If +100 is hit, the month is over; however if -100 is hit, there will be a second round of +100 vs. -100. At that point, another -100 hit will end the month; I have not yet decided what will happen if +100 is hit then, I'll figure it out when necessary.
Another thing is I like round numbers so I will always aim for multiples of 20 pips when it comes to winners, although slippage and co will make sure this does not always happen.
Lastly, this is not a $500 to $1,000,000,000,000,000 and some thread. I'm just trying to check whether I can potentially start to implement this kind of unconventional trading behaviour on a real income basis next year with any consistency.