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DislikedIt looks like you hope to make about 30% return per week, not counting any deposits you make....Ignored
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Trading at 10cents/pip with a $30 account would mean that I need around 300pips loss to blow up the account. And setting the max loss to be around 10 pips, I will need 30 consecutive losing trades to blow up the account. If that really happens, I will really re look into how I am looking at the charts.
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DislikedMy friend that is still scalping. Anything that limits your losses to noise and only aims at small gains is scalping. If you are looking to achieve high daily % growth then the only way you can do so is:
1) Risk and leverage your trades to maximise reward on small developments
2) Take more trades daily
3) Leave the winning trade based on such a small SL to grow, which would be the best way IMO. The benefit of trading a small SL is that you can take larger gains if you can stomache it.
So 1 and 2 are not a long term viable option because the...Ignored
QuoteDislikedThx for all the good advice! Ill definitely take them into consideration... maybe start off with demo first again while getting enough funds to start trading live. I think the key right now is to settle on a trading method. Being used to scalping, looking at candlesticks feels really different for me. I might end up using candlesticks as a guide mainly for my 1 tick chart entries. Since I have no proper system to follow as of now... this will be more of a journal for me to do my research!
Inclined towards trading pure price action on a 1 tick chart....
Do you really have to ask? He stopped posting 2 days after he started. He probably blew up his account many times over trying to use too much leverage to get unrealistic returns.