Well, looks interesting… Good luck!
Man, why did you mess with what was working may I ask?
Keep rocking it bud, Im running right along side ya.
Good Luck!:57:
Hi,
Doubling your money in the 1st week is insane. You must have been leveraging nearly 100:1. When it works that’s great but when it goes wrong which it must at some point then you wipe yourself out. I would be setting goals like earning 25-30% a year starting with £10k. You would have your million in 18 years that way. Doesn’t sound glamorous but I think you would have to attempt the £1k to £1m more than 18 times before it succeeds.
Sorry if this sounds disapproving of your efforts - I think only starting with £1k with your strategy is wise - would be more concerned if you were using £10k plus but who am I to comment on how much money that means to anyone.
Are you using Fib indicators out of interest?
Cheers
Plork,
I generally try to earn anywhere between 20 to 30+ pips per day. Since it’s only the first week with small starting balance, the % will seem a bit high. And for the leveraging, I’m not overleveraging where only a few trades would take me out.
TC.
I would do that sometime in the future. My strategy is nothing fancy. 
TC
Yep. Tell me about it. It was just a little tweak addition to my current strategy, looked good in backtesting but realized that on the live market, this little devil made me lose focus on the bigger picture on the market. so I had to dump it, immediately! Always trying to better my system, but guess this wasn’t the one…
TC
Hi Rich,
I understand, I will only be able to double my money only with 1k because it’s small.
When I have 10k, that’s a different story, I would only aim for 2-3%+ a day or 10-15% per week which is considerably less that 100%, and the amount that I will be risking will be much less according to the account size.
My immediate goal right now is to reach 10k, and until then, I’ll just have to be more careful about my trades. As the account grows from 1k, the lot size that I’m currently using would be same until 10k and by doing that, I would have less chance of blowing out the account since the risk will be reduced.
And for the indicator, I don’t use Fib indicators. I only use it when I’m in a deep sh*t hoping that the price will turn at certain levels, which I hope I never get into, heh~.
I’m a momentum trader. I’m in and out of the trade in 1 min TF that I don’t have time to use them.
TC
Do you mind sharing the strategy itself? That way we can follow your progress on a demo account ourselves.
I understand that the more you earn the less risk you will be taking if your using the same lot size. You made nearly 1k in your first week which doubled your money. I don’t know how many pips you won but if I assume you were doing really well and it was 50 a day, 250 for the week then each pip was worth $4. That means your position size must have been around $40k which is a 40:1 leverage ratio but that’s assuming all $1k was tied up as a deposit which it couldn’t have been as you would get margin called too quickly so more realistically I would imagine your playing with 100:1 leverage. With a standard high low range of 100 pips at $4 a pip you can imagine how quick $1000 dollars can go. I will stay subscribed for updates! (Praying your not going to try and sell us all your system as time goes by) 
Good LUck friend hope u will succed in ur journey
I hear ya there, lol…
But arn’t you supposed to wait a year before knowing its a wrong idea?
SMH, Keep rollin TC, your going to get that 5Million+.
Sorry I inflated your goal, but if you can hit 1 mill, sky is the limit brother.
The hardest thing is to realize a loss. Your using momentum as a main variable, so there for, your pendulum must swing your way almost instantly, or you picked the wrong spot to enter with a run against you.
You should NEVER, EVER, Ever, even be close to a margin call, NEVER!!
a 10% loss is easy to get back, a 25% loss isnt so much. Need to have a static Stoploss at all times. You need to cherry pick in consolidation periods. 8-10 pip swing moments, range grabbing pips.
NEVER concentrate on breakouts. When we trade High “Risk”, Breakout trading is the most face-palm moments you might receive in your forex career. We’re strictly pullback jumpers, remember that.
OK, sorry for the rambling. I want to see you hit your targets, Its Friday, Im already done for today.
A huge problem for me is not having someone to chat with, bounce things off of, so I like talking about things like this. It makes us better traders.
Keep on Rolling TC,
I hear you there. You are invited to join my band. I am trying to assemble around 20 traders to band together on forex. Check it out here <301 Moved Permanently>
Best Regards,
Victor Lew
Hey Vic, I dont want to side track TC’s thread, so I’ll post in your thread on this idea.
Do you have a spread sheet to show a budget and actual plan and results?
Here are my results for 3rd week
3/7 Mon $2,407 +15.62% (+$376)
3/8 Tue $2,783 - 4.02% (-$112)
3/9 Wed $2,671 + 5.54% (+$135)
3/10 Thu $2,806 + 22.17% (+$622)
3/11 Fri $3,428 + 13.33% (+$457)
3/7 - 3/11 $2,407 + 61.40% (+ $1,478) = $3,885
This week’s gain was +61.40% (+ $1,478). Pretty good week compared to what I have done so far, closer to what I wanted every week to happen averaging about 30 pips per day.
This weeks market was mostly moving sideways except for Thursday with EUR Interest decision and ECB announcement. Everyday it was like bait and switch, looks like it wants to go down but BAM it reverses and vice versa with the biggest bait on Thursday. I got caught with the bait on Tuesday with 4% loss, but everything else came out pretty good!
See you next week~
TC
I do have it in my spreadsheet :57:
TC
tc,
Excellent work. As you work with growing numbers maybe it is also interesting to new traders what you feel emotionally while trading. Do you care to eleborate on that?
Great job TC,
Heres to another fantastic week, and a huge abundance of pips to You,
Keep rocking it,
WOW!!! If you actually turn $1,000 into $1 million in 14 months, I’ll be really impressed hahaha. but seriously tho, really impressed