Hi fex
thank you for your kind words my friend.
First job on any new account or start of new year is to safely build some F/cap, once you have this as your cushion you can trade a bit more aggressively, the money management/skews I am using at the moment would in my opinion be suited to a 5k account, two things I must highlight here, 1. I am and will not use this account to show how much I can make in the shortest of time, the reason for this is it would bring unwanted attention from the lazy looking to make quick money and from the trolls on here, this account has purely been set up to show how I trade and my ideas so that others can hopefully develop their own MO maybe with help from some of what I am showing 2. This is not my main trading account and I will only use it when I have time to try to show what I do, everyone’s money management will be different according to their account size and emotion to/for risk.
I try to keep my journal ‘in the real world’ and that means there will be no claims that I can show anyone how to trade in any way, the size of the account I think is a realistic amount to use for this that most should be able to finance themselves with at some point, if not then they will need to find a way of saving this amount through other work means, I will not use a small account and claim you can make a fortune, fti has said his best year was about 400%, myself I have not managed that amount but I have achieved half that in my best year so far and I find one year can vary vastly different return% from another, so if you have a good year save it for the one that may not be so good, 50%+ is achievable, so a 10k account will not give you a living wage, what I show is a low risk way of making money to keep it real. The bigger the risk you take with your account size to trade size the bigger chance you have of blowing the account, your broker and the market just love those sort of risk takers.
I hope I have answered your question my friend, feel free to ask whatever else you want and I will do my best to try to answer if I can. Thanks for letting me know you are following with the ‘likes’.
Regards
Phil.
thank you for your kind words my friend.
First job on any new account or start of new year is to safely build some F/cap, once you have this as your cushion you can trade a bit more aggressively, the money management/skews I am using at the moment would in my opinion be suited to a 5k account, two things I must highlight here, 1. I am and will not use this account to show how much I can make in the shortest of time, the reason for this is it would bring unwanted attention from the lazy looking to make quick money and from the trolls on here, this account has purely been set up to show how I trade and my ideas so that others can hopefully develop their own MO maybe with help from some of what I am showing 2. This is not my main trading account and I will only use it when I have time to try to show what I do, everyone’s money management will be different according to their account size and emotion to/for risk.
I try to keep my journal ‘in the real world’ and that means there will be no claims that I can show anyone how to trade in any way, the size of the account I think is a realistic amount to use for this that most should be able to finance themselves with at some point, if not then they will need to find a way of saving this amount through other work means, I will not use a small account and claim you can make a fortune, fti has said his best year was about 400%, myself I have not managed that amount but I have achieved half that in my best year so far and I find one year can vary vastly different return% from another, so if you have a good year save it for the one that may not be so good, 50%+ is achievable, so a 10k account will not give you a living wage, what I show is a low risk way of making money to keep it real. The bigger the risk you take with your account size to trade size the bigger chance you have of blowing the account, your broker and the market just love those sort of risk takers.
I hope I have answered your question my friend, feel free to ask whatever else you want and I will do my best to try to answer if I can. Thanks for letting me know you are following with the ‘likes’.
Regards
Phil.
-be careful about what you allow to be put in your mind-
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