"Our aspirations are our possibilities." - Robert Browning
Inspired from this thread https://www.forexfactory.com/showthread.php?t=444377 wherein I have read numerous risk management style to achieve high returns. Here is one I would be experimenting. Starting capital $1200 Target $8,000 (667% Profit) IN 5 Steps.
Step 1 - Starting Capital $1,200 - That means I would have 60 attempts to complete Step 1 ($20 x 60 = $1,200). I Will start with $20 on first trade and looking for 4 winning trades in a row with 100% risk on each trade and average 2R in profit.
If I complete Step 1 my total equity would be $1,200 (Starting Capital) + $1,600 (Profit) – Number of failed attempts (1200 + 1600 - ???).
Step 2: Start with ending Capital of Step 1 and so on looking for 4 winning trade in a row with 100% risk on each trade and average 2R in profit. Same process will be repeated after each Step until Target of 8,000/- (667% is achieved)
So the question is why looking for only 4 winning trades in a row for each step. Well it is based on my trading history and back testing that based on my trading style I have achieved 2R on 4 consecutive winning trades many a times, as compare to 5 winners or 6 winners in a row.
Moreover, another advantage of trading this style is for every step I would have around 60 or more attempts to complete that step and go to next level. So again based on my trading history, back testing and my trading style, I know that there is high probability that I would get 4 winners in a row in the next 60 trades.
The purpose of knowledge is action, not knowledge