My name is Michael Villeneuve, I'm 23 and I just recently started to trade real money. I have studied forex for the last 2 years tried couple of demo accounts with different system. I never had the money to invest... but now I do! I thought that it would be interesting to document my experience from day 1. I still don't have a lot of money and I wouldn't be comfortable depositing all my savings with my non existent live trading experience. I have written a complete trading plan. Here is the summary.
Timeframe
- 4 hour
- 8 hour
- Daily
System
I'm focusing on the NickB Price action strategy (see forex4noobs.com). I will be looking to add some more when I'm confident and consistent with this system.
Risk management
- My stop loss will always be less or equal to 2% of my account.
- My risk/reward ration must always be greater then 1.5:1
Starting capital
1000$ + 500$ (bonus)
2014 Goal
Increase my account by 50%.
Long term
Save enough to be pay for my mortgage and quit my job. Don't get me wrong, I love what I do ( I'm a web developer). But there is so much to do in this life, I don't want to be stuck on my computer screen for the next 40 years.
I wished I could take part of the 100 fold challenge. Unfortunately I can't because I'm not using mt4 at the moment. I'll try to switch to MT4 as soon as my rollover is done so that I can track more publicly my ... quest for success. I will be updating this thread once a week, probably every week end. If you have any questions, I'm an open book I'll answer to pretty much any question.