saw this…reminded me of me. Except my hours are worse. California is about the WORST place to trade from… working 10 pm to about 7am - 9 am…it’s tough:
This is interesting. I’m working on increasing a trading account at 20% per month. I started with $1000. This is my 36 month plan to make $1 million dollars. The 20% account plan is below. Current account balance is: $6124.00. Do you guys think this plan will work?
Dec $5,960.56
Jan $7,268.25
Feb $8,862.84
Mar $10,807.27
Apr $13,178.29
May $16,069.49
Jun $19,594.99
Jul $23,893.96
Aug $29,136.08
Sep $35,528.28
Oct $43,322.87
Nov $52,827.53
Dec $64,417.41
Jan $78,550.02
Feb $95,783.20
Mar $116,797.18
Apr $142,421.44
May $173,667.44
Jun $211,768.52
Jul $258,228.65
Aug $314,881.72
Sep $383,963.96
Oct $468,202.23
Nov $570,921.62
Dec $696,176.74
Jan $848,911.71
Feb $1,035,155.37
We are approaching a full moon. Most of the time price goes up at the full moon even in a strong down trend, albeit very temporary at times. Generally a push up first day regardless of trend. Blue cheese is good for something.:22:
Hold on so your expecting to make 20% a month? Which don’t get me wrong is pretty attainable but how are you factoring in your drawdowns? Your risks?
You can plan your trades, but you can’t [B]plan[/B] your profits. If your method is good, and it seems like it is, just be happy knowing you can expect to make money month-to-month and let the details of your success be a joyful surprise 
Mikey… yes…it could work. If I was risking 1% on my trades in this thread so far…i’d be up over a little more than 20% on a per month basis (and slowly but surely…I will be getting there)…
but… there is a LOT your not telling us. Such as risk taken per trade, your plan on handling psychology issues with losing trades in the 4 - 5 figures, the liquidity available to fill your orders (or…not…as the case very well may be as you start approaching mid 6 figures and up)…
and so on, and so forth. Really don’t know where to begin.
Is it possible? yep. sure is. Is is likley? not unless you’ve successfully traded before…and I mean with some sizeable cash, like mid six figures or even 7-8 figures… it’s likley not gonna happen.
Tansen and Akea are 100% right. in particular…I think Akea has some really solid insight on this… you can’t “plan” your profits… if you can do your 20% per month for 6 months…you’ll be doing very good. if you can do it for a year… make sure you are doing everything you can to protect yourself from drawdown and loss. Then… your just about 1 year away from your 1 mil.
Might want to start your own thread…or update us more on your methodology, or something like this… i’m sure if you do this, we’d all be very excited to watch this with you (myself included)
Jay
Good Luck! I’m not saying it can’t be done, it’s just that I’m sure their are massive psychological issues once a persons account balance gets above 6 figures. Not to mention the liquidity issues you might have after 6 figures…
Yep, the plan is to increase the account by 20% per month. This might sound crazy, but I have learned to trade based of 4 hour charts. I look for jumps and drops of 100 pips or more. I set a take limit of a 50 pips gain, and close out of any position that gains 20 pips. If the pair jumps up 100 more pips. I open another position of the same value. Also increase the set limit to 100 pips instead of 50 pips, and close out any position that I see hit 50 pips. Now, if the pair jumps up another 100 pips I will increase the position times 10. For the past 4 months price has always moved enough make a pips.
So, basically mikey…this is a variation of a martingale position sizing strategy…am I correct?
Jay
Also, long order placed on eur/usd at 1.3353
stop 63 pips, target 150 pips
risking 0.25%
I’m going long on AUD/USD at 1.0110
stop 35 pips
targeting 40 pips, taking half the position off, move stops to BE at that time, then targeting 70 pips for the last half of the position
EDIT: risking 0.35%
Yes, you are correct.
Well… I wish you luck with that.
If you would like, I would suggest you open a thread of your own on it, as some may want to follow your progress.
Here is a link to do so:
http://forums.babypips.com/newthread.php?do=newthread&f=2
Jay
Going Long on eur/aud at 1.3030,
stop 1.2978,
target 1.3230
risking 0.35%
order to go long on usd/cad at 1.0136
stop 50 pips
target 100 pips
0.35%
Went long gbp/usd, 30 pip stop, 60 pip target, risking 0.30%
long from 1.5560
EDIT: went back over records…found that I took half this trade off at 30 pips profit, then scored BE on the rest.
It was my only partial winner from this first day trading this week.
Jay
long again on gbp/usd from 1.5567, risking 0.10%, 35 pip stop, 100 pip target
gbp/usd long from 1.5570, stop 25 pips, target 100 pips.
risking 0.10%
All stop’s on gbp/usd long positions are moved up to 1.5545, to reduce risk.
a question ,Why did you go long at 1.5560 and you didn’t place your buy at 1.56 or 1.5590 ? I just got stopped out from 1.5590
tnx