my 2cents on achieving possible uberwealth with relatively safe Money Management.
1.) Risk 5% of your account / day
2.) Consider that amount as a separate account (even though it's not in reality)
3.) Apply 50% risk / trade.
4.) Perform as many high profit % trades as you can find (for compounding effect to take place).
5.) Hope to score the jackpot
100$ acct --> 5$ risk
10 trades, 1:1 profit factor, 100% win
5 * 1.5^10 => +288$
next 10 days you lose 5%
388$ --> 232$
but then you make a home run again
232$ acct --> 11.6$ risk
11.6 * 1.5^10 => 668
Repeat for a few hundred days & you should reach either insanity or the $100k
1.) Risk 5% of your account / day
2.) Consider that amount as a separate account (even though it's not in reality)
3.) Apply 50% risk / trade.
4.) Perform as many high profit % trades as you can find (for compounding effect to take place).
5.) Hope to score the jackpot
100$ acct --> 5$ risk
10 trades, 1:1 profit factor, 100% win
5 * 1.5^10 => +288$
next 10 days you lose 5%
388$ --> 232$
but then you make a home run again
232$ acct --> 11.6$ risk
11.6 * 1.5^10 => 668
Repeat for a few hundred days & you should reach either insanity or the $100k