Goal: Double account balance every month?!

Over the past year or so I've been attempting to develop a system based entirely on technicals. Vigorous backtesting has shown very impressive results, but we all know how easily that can change when real money is involved.

The system uses a 15 minute chart and only a 15 minute chart. I'll be trading EUR/USD and for now will take trades during any session. If I start to notice more losses than wins during one session, I will drop it.

I've opened a separate account for this with a starting balance of $550 and leverage at 50:1. I will open 2 trades on each position I take. First one will be for 7500 units, the second one will be 2500 units. Once the account balance hits $1000, I will double the units to 15,000 and 5000, and so on until a balance of approx $10,000 is achieved.

The goal is to double the account balance every month..I know it might seem far fetched but as long as I'm coming close to doubling the balance every 30-45 days I'll be more than happy. Lets see how it goes!

Long @ 1.2653

Results:

+18 pips @ 7500 units
-10 pips @ 2500 units

New balance: $561.00

All the best, hope you suceed.

This sounds interesting. Looking forward to read about your progress .

I'm going to change it around a bit. With the account leverage at a low 50:1, I'm really not that close to taking full advantage of it. The average loss with this system is around 10 pips with the occassional 30-40 pip loss. It would take quite a run of bad trades to wipe out the account using the lot sizes I'm starting with. Considering I've started this account with a quarter of my last NFP morning paycheck, I'm going to up the ante just a bit for now to see how it goes. First position will be 10,000 and the second will be 4000 to start. The risk per trade is still in the area of 3-6% of the account balance, so I'm not over-leveraging and I'm not risking a huge amount on each move.

Short @ 1.2606

Results:

+17 pips @ 10000 units
0 pips @ 4000 units
New balance: $578.00

**edit : Second position hit my break even stop loss.

where on earth are u trading from?

Toronto, Canada.. but if you're asking because of the times on my chart snapshots, I'm using the Alpari version of Metatrader and its out of Russia I think. The times are all messed up but I find their data feed to be very reliable.

Short @ 1.2542

Results:

+5 pips @ 10000 units
+9 pips @ 4000 units
New balance: $586.60

Quick update: I've decided to add another pair to the mix. Starting now EUR/USD and EUR/CHF will be traded on this account using this method. I will stick with these two until the account has hit its $10,000 target (at which time I may add more currency pairs) or completely fails and hits $0.

That's Groovy Man!

Long @ 1.2578

Results:

+11 pips @ 10000 units
-23 pips @ 4000 units
New balance: $588.40

EUR/CHF
Short @ 1.5525

Results:

+10 pips @ 10000 units
+11 pips @ 4000 units
New balance: $600.02

EUR/CHF
Long @ 1.5535

Results:

+6 pips @ 10000 units
+7 pips @ 4000 units
New balance: $607.12

Not a great trade by any means, but still pulled out a few dollars.

**edit: oops, bad math.. second position closed out for +7 pips, not +1.

EUR/USD
Long @ 1.2635
Results:

+10 pips @ 10000 units
+19 @ 4000 units
New balance: $624.72

All in all not a bad week of trading. A couple of trades were closed a bit early but I'd rather be safe than sorry, especially with the 10,000 unit positions. I like to get the quick 10-30 pips out of it and let the 4000 unit position ride the trend if a good one developes. Unfortunately, it was a pretty range bound, choppy week for both pairs.. nothing spectacular happened in terms of strong trends.

Results for June 11 - 16 :
+ 82 pips
+ $63.72

New account balance: $624.72

Been there, of course. Never made consistent pips that way, I don't think the few warrior traders in the world have either. So, these years down the road, have learned that the tortoise does beat the hare after all. Consistency is the name of the game. If you get that figured out, 15pips a day, day in, day out, you'll get to where you want to go. Only you'll really get there.

I'm not entirely sure what you're trying to say here.. but I *think* you're saying it can't be done. Yes, consistency is the name of game.. ofcourse it is, I think most people can see that. This journal is a test of something I've been playing around with for a while now... a system that can turn a $500 mini-account into $10,000, perhaps even more, in a fairly short amount of time without putting it all on the line for one or two moves. It's been done before and I'm sure there isn't one and only one way of doing it. If this system fails, its no big deal.. it wont stop me from trying again. I don't need this to work to pay bills, I have other accounts for that. So, what's the worst that can happen? I lose $550, learn from the mistakes and improve my trading all around. What's the best that can happen? ....

As long as the markets keep moving, I'll keep looking for ways to move with them.

EUR/USD
Short @ 1.2632
Results:

+19 pips @ 10000 units
+30 pips @ 4000 units
New balance: $655.72

Good way to start the week.. 2nd position is at +28 at the moment, im putting a stop loss at break even and a TP at 1.2555 for now because I've got to run for an hour..

**edit: trade is now closed.

EUR/CHF
Long @ 1.5572
Results:

+16 pips @ 10000 units
+24 pips @ 4000 units

New balance: $676.36
Total P/L: +$126.36