Very helpful. Lucky you. Hope my strategy would yield better results after several years of usageš
Great results joey. Whats your secret? 
I have only just started trading with live account part time since I have full time work. Even so I hope to make in excess of 100% in a year. But my risk management plan is not as you described because it begins at fixed cash risk of 2.5% and have draw up levels where risk doubles and draw down levels when I would 1/2 the risk. Wishing everyone success.
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100% in a year is a possibility if your strategy performance physically allows it. The strategyās capability over 1 year is a function of win rate, average % gained per trade, average % lost per trade, and the number of trades available.
But 100% per year is from some angles pretty modest, especially for a trader who can devote all their time to trading. Not because this makes them better traders or because day-trading and scalping pay better, but because they can find more opportunities and therefore take more trades. 100% per year means only 6% per month if you compound your position sizes. There are about 20 trading days per month, so you only need to make a modest profit on only a little over half of the days and you will certainly double your money.
So why donāt more traders double their money?
lack of discipline - You have to do the same thing every day at the same time and in the same way, 200 days in succession. This year and next year and every year for the next decade. Try telling that to an average 20-year old.
excessive risk - A little success leads to over-confidence impatience, over-sized positions and excessive account capital risked per trade. A run of losers wipes out the account (possibly via a set of revenge trades).
failure to compound - Few traders adequately increase their position sizes as their account grows. They keep the same risk levels in $ and the same targets in $ no matter what size the account.
self-limiting trades - Most new traders try to make big money quickly through reversal trades. These are low probability trades with a limited forward price action. Traders always exit as soon as they can. Once price has reversed, it has reversed and thatās the end of the trade on this market. Its no wonder they close their winners early.
Maybe the key reason why traders generally do not double their money is because they donāt follow trends, so they are always under pressure to exit too early and they donāt pyramid their trades because the trades they take cannot be pyramided - they are win or lose shots at target and once the TP signalled by the head-and-shoulders or what-have-you has been reached, thatās the end of the story.
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Just wanted to ask you how long youāve been tradingā¦ Congrats, if you mastered this in only one y !
Iām still working on it after 3 yā¦ :), but at least Iām on the good way.
Iām six months old in Forex. I have been trading/learning for six months straight and still learning. Now, I hope the next 12months of my trading career will be a good one to be proud of. Congratulate me on the 31st of January 2021 for giving birth to a working plan. If it doesnāt work, still congratulate me, it is not easy to invent and build prototype 
On the 31st of January 2021 the completed result of my system (one of the reasons I created this thread) will be displayed and the amount of %profit (let me be positive) will be announced in my trade system result thread HERE
Damn, you really got it in for reversals havenāt you. Personally I find them one of the best techniques out there, but it does all come to down to your interpretation of them and how you trade them.
Hi Aciula,
Good morning. I have been live trading now for 6 months, and before that, I had been analyzing and monitoring the Forex market for 6 months. My education helped me a lot in understanding chart patterns. I have done MBA and also Black Belt in Six Sigma. Most people are using indicators which are lagging and will never give current market situation. The factors that drive the price highs and lows are news and economic news release not the indicators. This simple thing traders do not understand.
Yes, I have met 4 successful traders in life who are just amazing and guided me where I was going wrong. Even though they are very young, still I think their dedication and hard work needs to be given every appreciation. Practical application is very important if any strategy is to be implemented. If any strategy that does not work for a week in Forex, it will never work. Then it will only be like playing with it, nothing more.
Give a try for price action strategy without any indicators on demo account. Just try support and resistance. I think you will immediately understand as you have been trading now for 3 years.
Hello Sir,
I am against starting with higher amounts. I think Ā£100 is more than enough. The whole thing here is to first get the real feel of actual trading and taking out the fear. Once, a person is comfortable and at least 70-80% assured, then slowly increase the lot size.
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Hello John,
Reversals are very easy. Take reversals only if the āchart pattern is flatā and the price level has come to the previous high/low. Use reversal only once. If the price comes to the same level again avoid it as it is going to breakout.
Yep, Iām dead against them for beginners - who at that stage actually cannot trade. But if youāre making them work for you, donāt stop now.
I think a Nobel prize should go to whoever gets day-trading reversals banned for anyone who isnāt already making money. Services to the broke maybe.
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Letās seeā¦ a secret? There is no secret. Iām sure most profitable traders would tell you that.
Iād say the āsecretsā I employ are 1) the ability to identify a trend, and hop on, 2) the ability to recognize the change of trend direction, and 3) when the price is ranging.
If you can effectively do those three, you can make money in almost any tradable financial market.
All of those I figured out through this website and googling.
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You are a true son of the financial market. I would love to be like you when I grow upš
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I also use the Traders4Traders Risk management system which I think every new trader should start doing or at least take a look at. but I am well above 100% ROI in 6 months.
The draw up levels are still compounding your money just not as quick as compounding after every win, and the drawdown levels are a good structured way of keeping you out of trouble keeping you in the game.
my strategy is not exactly the way Brad would trade after all he has a hell of a lot more experience, opportunity and capital than me but the Trade and risk management system he teaches is useful to learn for any trader.
Have made well over 100% and trade very aggressive. Still have a high win rate easily 80% over hundreds of trades.
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Lovely. Do you mind giving a glimpse on how you trade
I am a contrarian intraday price action swing trader who uses mainly naked charts.
Cool. Itās making you money? Stick to it!