DislikedHi tommyd,
Please forgive me about the post that copied your post...
My intention were not directed to you at all, but for some reason I posted with your post attached to it ! (by the way I did read the whole thread with a partner trader of mine we discuss it since a week...wink)!!!
Please accept my sincere apologies about this confusion. I hope somebody in this thread can edit it.
Ok, here are some thoughts and ideas I would like to share, if I may:
Ex: If you have a $10,000 account:
- Trade maximum 3%-5% of your account (safe to moderate)
- Let's say 5% for this purpose, that would be 5 mini
- With one pair only (CTGUY suggested GU)
- 15 pips a day x 20 trading days in a month, that is 300 pips/month (try to find real strategies that produce 300 CONSISTANT pips per month with low risk and low stress)... stay with me on this...
- 300 x 5 mini = $1,500/month, that is not counting the extras 15 pips at the 30 tp level and 45 tp level and/or the trail for the last level.
Now here is the holy grail I was reffering too in a previous post:
Money Management
Just by compounding that every day, that means you have 100k in 160 trading days. Less than a year for 1000% interest return. And it is legal !
Wait, it get's better: How about 2 pairs and upgrading the risk to 10% (this is high risk, do not attempt that if you are new to trading). 10% is not risky with a 87% winning rate (confirmed by a previous post backtester).
Back to 2 pairs: it will take only 82 trading days to reach 100k.
- I personally don't use sl while I monitor a trade, I just put one for safety reasons (50-100 pips depending on pair volatility), like if I have to leave the screens, even for only a minute, Internet interuption. Get a battery backup, this is a must before even putting 1 penny in live trading.
Just some food for pips !
Cheers,
Big MikeIgnored
people got excited with his system/method until beginning of 2007 when many members blew out theirs accounts and even the so called profissionals trading this had huge drawdown, something like 90% or more.
Hans123 breakout was the breakout of the London Session, a Opening Range Breakout like this is.
there are others systema based on ORB that did'nt had sucess. I remember asking Acret about one he made exaustive foward test and was not profitable after months.
i not saying that this method doesnt work. But i would be more carefull about think in use 10% in someting like it.
there are others ORB system in this forum and the pros trade using 1%. They say that trading 3% is enough to broke. And using small stops like 20 pips maximum.
imagine using 10%...
