I am a beginner trader who started his trading journey 2 years and 5 months from now. I have completed high school studies in commerce.
After my first year in college I decided to dropout and pursue trading as my career and started studying the forex market because of low capital requirement and flexible position sizing.
I have back tested my trading strategy with over 400 trades and demo traded for 2 months. Now I have decided to trade with real money started from last week. Although I have traded with real money earlier but I traded without a solid plan and strategy and also I used capital for charting, books and some other expenses that's why I have lost more than 50% of my capital.
I have started trading again with real money but this time with a solid strategy, risk management and rules in place. My first week ended with loss because of my laziness and entering on low odd trading setups. Now I will focus on only those setups when the market clearly says to me, " Just take the goddamn trade."
I do scalping on EUR/USD and GBP/USD from the open of the European markets to the starting couple of hours of the American markets.
I aim for only 1:1 Reward to Risk Ratio. With 4-6 pip risk on each and every trade.
My account is very small, a little less than $1600. I risk $5 on every trade but after every passing week I increase my risk by $5 means, in my first week of trading I risked $5 so this week I will risk $10 and the next week it will be $15. I will keep increasing my risk until I reach 2% of my account size. And when I will recover full amount of my starting capital which was $3800 I will increase the risk to 3% of capital traded on each and every trade.
I will post trades of every day when I trade.
After my first year in college I decided to dropout and pursue trading as my career and started studying the forex market because of low capital requirement and flexible position sizing.
I have back tested my trading strategy with over 400 trades and demo traded for 2 months. Now I have decided to trade with real money started from last week. Although I have traded with real money earlier but I traded without a solid plan and strategy and also I used capital for charting, books and some other expenses that's why I have lost more than 50% of my capital.
I have started trading again with real money but this time with a solid strategy, risk management and rules in place. My first week ended with loss because of my laziness and entering on low odd trading setups. Now I will focus on only those setups when the market clearly says to me, " Just take the goddamn trade."
I do scalping on EUR/USD and GBP/USD from the open of the European markets to the starting couple of hours of the American markets.
I aim for only 1:1 Reward to Risk Ratio. With 4-6 pip risk on each and every trade.
My account is very small, a little less than $1600. I risk $5 on every trade but after every passing week I increase my risk by $5 means, in my first week of trading I risked $5 so this week I will risk $10 and the next week it will be $15. I will keep increasing my risk until I reach 2% of my account size. And when I will recover full amount of my starting capital which was $3800 I will increase the risk to 3% of capital traded on each and every trade.
I will post trades of every day when I trade.