Your analysis presented a sell for GBP/USD for example and an hour later Donald Trump Twitted something unexpectedly (LOL) which weakened the dollar and GBP/USD starts rallying, this is where you cut your losses early enough and if you are confident of it lasting you trade the opposite way.
I know it’s a bad example 
but just try to get the point.
This one isn’t forex so its not part of the challenge but I wanted to include it because I thought it was interesting.
Short Position
TIcker: HON
P/L + 1%
The only reason I didn’t hold this over this weekend is because December is seasonally bullish and S&P was at the bottom of the range we have been sitting at since October.
I got in when the hourly closed engulfing red right underneath polarity. Normally I know these go at least far enough to lower my stop to break even. Then its a free trade and I let them ride.
Since I am taking a break from equities to learn forex P/L, doesn’t matter but it was +1%
The only thing I would do different going forward is setting my stop to break even and letting this one ride. Its the only way I am going to grow my account.
Thanks so much I will review this tonight
Thanks so much for the tips. Starting Monday I am going to attack this very differently. The name of the game will be better risk reward. I need to stop being so eager and I know that! I appreciate your time.
Quite a nice Journal. Thank you for posting your trades on forum. I find it also quite educational for beginners. As for P/L, I think that brokerage spread should be also taken into account in trading strategy, simply because it consumes profitability.
Hello @MrChaos
Why aren’t you posting anymore, hit your $1000 target and didn’t feel the need to continue? Or you blew the account?
Please don’t be @alphahavoc, come back to us…
Hey!, Neither actually.
Just realized I needed a bit more education. I found Dr. Mircea Dologa’s materials on Pitchforks and have been studying as a way to incorporate his gems with my developing strategy. I should be back soon.
My major, revelations have been incorporating risk reward and just a better understanding of the trend.
I have no ego in this, rather I am here just to learn. If I blow up accounts its fine with me as long as I take something away. I actually have no proof that doing this consistently is even possible I have never witnessed someone trade that does this for a living. I’ll be back and hopfully better then ever! or worse then ever! Not sure but I do know 2019 is a new year and I’m ready for more learning.
It’s possible. I once turned $1500 into $4600 in 5 weeks.
The stats shown have been limited to just that particular time that I had that winning streak. Here’s what happened after.
But guess what happened, I blew that account in the next 2 weeks. You can have good days and lucky streaks that last for days and weeks but being too aggressive eventually poses a really high risk of eventually losing. I have several more experiences like this. The second week I traded live I turned $2K into $3K. I have done $1K into $1500 in a week, $900 to $2000 in 24 hours, $250 into $800 in three days, etc. All on different accounts. Every single time I had a good winning streak trading aggressively, I kept increasing position sizes and continued to be aggressive, and every time I blew my accounts.
Recently I’ve been concentrating on managing risk as well. I am comfortably averaging about 0.3-0.5% a day. It might take me much longer but I think it is way more sustainable and has a higher chance of success. The key seems to be trading with larger capital, because if you trade with $500 and make 20% in a day that’s only $100, whereas with say $10K if you make “just” 1% there’s your $100 a day.
Here’s what my 3 week old account looks like now that’s focused on limiting risk.
I can do that in 2 weeks - working for “Bounty …” 
@A1lenTrader well I would not call it a nice return, but hey, anything to stem the losses and change the mindset, for now.
It just happens because you can’t win every time. Time will show if you signals and trading approach is correct
Honestly, most are not even able to achieve that. I am sure it is a good start. Most of us here would blow the 10.000 in a relative short time.
270 on 10.000 is 2.7% per month. Let us take this as a static calculation and compound our account (without taking out anything) for the next 5 years.
My calculation says that he will have 50.000 in 5 years if he achieves a static 2.7% per month, which of course, will flactuate.
In other words, he is doubling his account every year. Imagine now he has a very big capital or receives an investment opportunity to trade with other peoples money and i.e. gets 300.000 from someone.
Now do you think that 2.7% per month is still a small number? I honestly find this a good start! It is not a huge return, but he is putting himself at a very good spot!
Thank you for the kind words friend. I’m actually trying to qualify for a prop trading firm and if I get to 6% they’ll quadruple the capital (at least that’s what they claim). So slowly but surely wins the race I guess.
FYI hasn’t been one month yet, just 17 trading days and am at 3.23% 
