Hey, Thursday was my first day with my live forex account… and I made $6.800… would you call that good progress?
It doesn’t matter how much money you made. Did you follow your trading plan? Did you keep your emotions in check and not act on greed or fear?
That depends.
If you made it by risking too much of your account, I would say no.
If you made it by using strict money and risk management together with a sound trading method, I would say well done!
From the little info you gave, one can’t tell.
Well, I started out with $15.000 and made several trades of 2 and 3 lots, then, as I made more money, I started with 5 lot-trades. I did follow my scheme and stopped when I needed to stop :D.
No. If you doubled your account in two to three trades in a single day then you’re not using sound money management.