DislikedWell, I have calculated what would happen to this baby using the worst case scenario, based on what happened during summer of 2008.Ignored
100$ -->100,000$ (period: 12 months) 207 replies
100 pip STOP for a 100 pip Target 7 replies
DislikedI can PROMISE you you will NOT be sleeping well at night when you are having to add to your account because all the trades are going against you. It will be extremely difficult for you to put more money in an account that is vanishing.
But that's just me, maybe you're made up entirely different than I am.Ignored
DislikedI used a strategy nearly identical to this one on the AUD/USD when it hit 1.06 earlier this year. I added postions all the way down to 0.98 where it reversed. I slept extremely well during this time as the carry accumulated in my account. This ended up being a fantastically profitable trade. Remember that this strategy goes against all that retail traders hold to be true and that 95% of retail traders lose money trading Forex. That alone is food for thought.Ignored
DislikedOh Yes ? And how ? Please develop...Ignored
Dislikedwell , off the top of my head ... there could be another recession and AUD drops 43.3% against JPY or 53% ... or even 63% etc....
do you know for a fact that this won't happen?
different scenarios could bring this about - use your imagination , and not a single one of them would be under your control
Whereas if you place a trade with a sl of 100 pips and a tp of 200 - you know for a fact that you will not lose more than 100 pips.
Because your risk is the only thing you can control
you have to...Ignored
DislikedDo I understand this right, that you start with $100.00 and add over $7300.00 on the way down? Is that correct?Ignored
DislikedThanks to share your trading plan with us. I will follow it. I hope, it will offer me some profit.Ignored
DislikedOne question guys....Do you guys know pair would be a good hedging for AUDJPY?Ignored
DislikedThe issue I have is you need a $7000+ account ( okay to handle worst case, say 2K normal ), to trade at $1 per pip is that initially or 10cents and your TP is 15pips was it if I read it right ?? so yeah you'll bank $15 ( or $1.50 )most days, sometimes have 2 - 5 day holds rarely have over this, 5 days to get to +15pips.
If your going to stick your neck out stick it out for 100pips say, $100 with 1 position.
Then say if you have 5 down days and 5 positions so $1 +$2 +$4 +$8 +$16 per pip on each thats $31 per pip, still aim for 100pips over average...Ignored
Sorry, I don't know about that. ...
Dislikedif you trade this system long enough, you`ll always encounter another worst scenario.
so you always will need another reserve of at least $ 7,300 to add to your $ 100 trading account when the ugly times come around.
so any profit made on your tiny $ 100 trading account will have to be expressed as a ROI percentage of $ 7,400.
very unconventional for sure.Ignored
This just mean that until our account has not grown to 7000+ or 2000+ for normal function we will need to have some money aside just in case.
And what would happen when your account reaches the 7000 level ? It could mean that we could maybe start increasing your positions when taking positions 7 to 10... you get the idea ?
But we are not there yet...
Thanks for posting,