Hey Everyone,
I just opened an account with FXCM (for the leverage) and I've decided to experiment with a new system. I'll be posting all my trades, and balances, as soon as I close the trades. Starting August, I'll post screenshots of my account report, at the end of each month (will edit out my personal details for anonymity).
Details of my account:
Amount Deposited: $300 (the original deposit will be removed once my account hits $1300)
Leverage: 1:200
Lot size: Depends on the trade and my comfort level at that time.
Pairs traded: Mostly GBP/USD, but I'll trade whenever an opportunity arises.
Rules/System:
1. Never let your account go below $300. (Not possible the first trade)
2. Only open a position when all fundamentals point in one direction.
3. Only add to a winning position, and never to a loosing one.
4. Basic technical analysis like support and resistance levels, pivot points and trendlines.
My strategy is to pick the best possible trades, which the aim to preverse my original deposit. 2 trades a month is more than enough, but if opportunities arise, I'll get in. I won't care even if I don't make any trades this year. An unbiased return expectation IMO would be about 50-60% a month. Depending on the market conditions, I might even decide to go all in on some trades.
Any questions, comments, suggestions, welcome.
I just opened an account with FXCM (for the leverage) and I've decided to experiment with a new system. I'll be posting all my trades, and balances, as soon as I close the trades. Starting August, I'll post screenshots of my account report, at the end of each month (will edit out my personal details for anonymity).
Details of my account:
Amount Deposited: $300 (the original deposit will be removed once my account hits $1300)
Leverage: 1:200
Lot size: Depends on the trade and my comfort level at that time.
Pairs traded: Mostly GBP/USD, but I'll trade whenever an opportunity arises.
Rules/System:
1. Never let your account go below $300. (Not possible the first trade)
2. Only open a position when all fundamentals point in one direction.
3. Only add to a winning position, and never to a loosing one.
4. Basic technical analysis like support and resistance levels, pivot points and trendlines.
My strategy is to pick the best possible trades, which the aim to preverse my original deposit. 2 trades a month is more than enough, but if opportunities arise, I'll get in. I won't care even if I don't make any trades this year. An unbiased return expectation IMO would be about 50-60% a month. Depending on the market conditions, I might even decide to go all in on some trades.
Any questions, comments, suggestions, welcome.