Disliked[size=2]I think thats the problem....to be successful it seems like you have to wait for the best setups which only come around rarely and if you only have a small account then you're only going to make a small amount of money on each trade.
So if you end up doing say 1 trade per week then thats hardly any profit. It seems like its only worth using this method if you have a large account so that you can wait for the perfect setups in the knowledge that each trade will net you hundreds or thousands.
So maybe its the case that success with this method...Ignored
Well lets look at it. Say you have demoed for a year on daily/weekly and are profitable for the last for 3-6 months.
If you then open a live account with say half your savings say 10k.
So your risk per trade is 3% (Which is the highest I would go but reduce as account gets bigger) then you are are risking $300 per trade. Once you get good at this you can reduce your stops a bit on daily by taking retraecments entries etc.
So maybe you can get your stops at 100 pips say, this will work out at roughly 3 bucks a pip. If it runs for a 150 pips your taking about 450 bucks a few of them a month with compounding and a few runners then your account size will grow. After 3 months add on the other 10k, now your at say 23k.
3% is $690 now you are getting nearly 7 bucks a pip (with 100 sl) now a few good trades could be netting you a 1-2 k a month.
Now you start on the 4 hour afer demoing 3 months profitably and risk maybe 2% per trade. Now your account is at 25k and your getting $500 per trade and your s/l on this lower timeframe is 50 pips say now you are getting 1 lot or $10 per pip, you'll get more trades on 4hr plus your dailies then you can be pulling in good returns, compound this for a few years add some other markets or timeframes after demoing and you are on your way to financial freedom.
I hear and I forget. I see and I remember. I do and I understand.