nothing wrong with that im rite here with you i started with $250 account and trying to compound it to at least 1000
i need to understand more TA bollinger momentum and stochastics
great stuff really enjoying and understanding my question is and the only question is what is a example of the rules to follow maybe even if just 5 what rules should be set out before entering ???
your are 100% right winning everyday is impossible i also didnt say you need just winn every trade …i can lose easily 2-3-4 trades but still get to the needed profit with just 1 winner… and of course this is just a super simple calculation without the 1000 possible variables like losing some trades in a row or winning in a row or break even trades etc etc …but as @1odi says i just want to show its getting easier with bigger accounts you dont need this 20R weeks to see serious money coming in low RR is fine and dont forget if u hit an 5R trade or even 10R trade with this bigger accounts and the 1-2% risk each trade you are making big jumps with your account …and of course this is not legit for every trader its something i realized in my very own trading and in my own risk management …if i hit my profit target for the day or week or even month i try to manage everything in a way to keep this profit and not risking to get below my achived profit target …i dont want to give fuel to the illusion of 100% winning rate here which is of course unrealistic 
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dude, it s a good way to start, the real issue will be dealing with ur emotions while ur in profits(should i close or let it run?( or in drawdown(again should i close or maybe it s gonna come to breakeven atleast?). my humble opinion is to start with 0.01 microlots, atleast untill u get the hang of it and untill u can win atleast 14 or 15 trades out of 20. journal everything down, every trade writting why u took it, reasons, what s the outcome and most important how u managed it. after a few weeks or a month, look on that and see where u lost, why u lost, when u won and why, how can u cut ur losses, cos that s how u win, by trying to limit ur losses, no matter the system u trade or how u pick ur entries and exits, and remember, sticking to what made u profit, not giving a damn about the actual posizion size, cos numbers are just numbers. a better way would be to calculate ur position size as a fixed “%” of ur account per trade, that way u won t have to worry about leverage and margin calls etc…ofc as long as u can stay afloat. hope this helps.
cheers
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Is that all from you thetradinggod…??? I was hoping for some more 
You have not been active for a while…
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Hi there, I, too, am from SA (Saldanha Bay) and have been trading for 4 years & still learning BUT profitably only because of following threads like this. Positive, positive all the way !!
Hi, IG Index, FXPro, ETX. All accredited brokers and operating in the UK. I use ETX and IG.
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I am tired of high leverage brokers to be honest. Thats why I switched.
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For what is worth, When the student is ready the teacher will appear
Yes Trueman23 but you need to look wide because what you are saying sounds like people who said if I win 6 of 10 trades I will be ok and you have to look it at 100 not 10. you can lose the first 10 easily but then you can end in 50 -50 but with a 2:1 ratio or more you will be profitable so same with dates you can’t expect to win every month in the year because you won’t in the best escenarios in these days is 10 month profitable.
sure the 6 out 10 was just an example …i could have say also 60 out of 100 or 600 out of 1000 trades …
or even just 300 out of 1000 depending on RR …short term results are more or less random if u want so its all about statistical edge inthe long run …marathon not a sprint …
ive got my daily goal …if not hit i have my weekly goal to be hit …if not hit ive got still my monthly goal and so on …anyway first focus should be is my strategy profitable in the long run if yes you can fine tune little nuances and of course its all therory
doing it is always differnet than knowing how to do it 
Exactly I complete agree with you that is why at the end to live just from spot FX with a US 10k is kinda impossible but if you rise in two years those $10,000 to $30,000 then yes you can have a pretty decent live at that point and continue growing your capital.
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Looks useful. Thanks for the recommendations
This is incredibly insightful, thanks for sharing!
I am a very new trader. for 6 months i began saving, reading, learning, and trading demo. Finally after 6 months i proved profitable on the account.
My strategy was to start at £500 and trade to £1000. reset to £500 and repeat until i did this 3 times consecutively. After this i began with £500 real money. The plan was to withdraw £500 once i made my £1000 to return my initial invetment and trade away risk free, pulling out £1000 every £2000 earned and so on then going to £4000 etc.
In the first month i was gutted. I lost £280 in the first 2 weeks! and was left with £220. All that planning, strategy and excitement just blown out of the water in 2 weeks, it seemed like my dream was over and i had no idea why (until i took a step back and assessed.) SO… (and some would say this was pretty stupid to do because it’s the beginning of a bad spiral) - i stuck another £400 in, so my total input was £900, my £500 strategy was out and i had to rethink things. but for the next 6 weeks things have been consistently great. averaging a 3:2 win/lose ratio with an average of £3-9 losses and £15-£20 wins.
over the next 6 weeks i managed to break even, bringing my account back to £900, which i’m very happy about, i feel as though i’ve learned so much about the mindset of trading real money and the differences in leverage capabilities etc and have shifted the way i work so that i am now once again (just about) profitable.
What i found really surprising is that you think with X amount of cash you can double it in a year, but it’s more risky to do that, and even it’s really behind what i’m averaging so far, about £10 a day/£50 a week/£200 a month, which i thought was modest since it was way lower than the profits on my demo account. I’m set to double my money in less than 5 months if things keep going the way they are. or 6 months with some drawbacks.
To me this seems reasonable… but i’m a newbie what do i know? literally i’m not being funny, i’m new to this world. I find it worrying that i find a 5-6 months money doubling speed acceptable where a very experienced profitable trader would consider that high risk and probably unsustainable? it makes me think my goals are unrealistic but i don’t know what to do, since it appears to be working? Learn the hard way? I hope not 
(EDIT: the trading app i’m using currently doen’t support the use of indicators, all my decisions so far are purely chart based judgement calls. Not sure what to make of this either)
Keep doing what you are doing, you don’t need indicators. But you must know what you are doing. It is at least 50% possible that although you are making good percentage returns on your individual trades, you are accepting an unquantifiable but high level of strategic risk of wipe-out.
So, what are you doing? Momentum trading - where you jump in with the ongoing action? Reversal trading, where you take the contrary direction to any strong move? News-based trades? What exactly?
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I wouldn’t say i know eaxaclty what i’m doing - just yet, since i’m still learning so much with hindsight. but i’m no longer losing. i’m just not making as much as i could be - entering trades too early is an issue i’m learning.
I tend not to momentum trade, not sure why i just don’t feel comfortable doing it, probably because it’s already left the support/resistance levels and i am urged to still leave my stops at those levels and its a bit far away. That said … i’ve done it twice and it paid off in both occasions.
My typical strategy is to scroll through the 4 hour until i see i trend i consider working well. Depending where in the 4 hour the market it is (middle of next major S&R level for example) i will not choose this time frame, but will zoom into smaller times until i catch one that’s just reaching a new S&R level that’s looking to turn,i’ll jump in as long as it also still follows the bigger picture trend (although sometimes i will trade against this on the 5 or 15m frames for a quick win).
My usual experience is that i will spend the first half of trade time in the red, it’s dancing on the S&R level for a while, then it usually shoots away and i take my win.
This doesn’t work when there’s a false breakout to the opposite and i get stopped out, which is extremely frustrating and i’m still learning how to deal with this. Setting my stop too far away will decrease the chance of it hitting that level, but it will also guarantee a much larger loss so… experience will help me figure that out.
Other times i lose is when the general trend is up for example. but on a smaller time frame the trend reverses, combined with entering too soon i sit in the red for a while, my inexperience can cause me to pull out or see it fall far enough to hit my stop.
An example of this - look at the 4 hour USD/JPY, there’s a general uptrend with nice pullbacks to jump on. So I got in on the 7th November at 109.137. This was a mistake looking back. It rose and i was up to $26 in the green, That was 5 days ago. The 1 hour presented a double tops and now I’m $8 in the red, because i didn’t enter at the optimal time - or i didn’t exit at the right time, the 1 hour trend has reversed and is causing a big low in the 4 hour - which happens to now be an excellent time to enter the trade. 5 days still in 1 trade and i’m still in the red - a lesson here.
Now - i believe this trade will still pay off for me, this 1 hour timeframe trend reversal just looks like a pullback on the 4h and it’s still within its uptrending pullback range, I have my loss set to $23 and my TP at $45. in the morning 8 hours later i will check this to expect a change in the 1 hour trend. if this has not happened then I will need to reconsider. It could signal a trend change in the larger time frame, but my inexperience has me guessing on that, so I’ll wait to see the outcome in the morning!
Miss you thetradinggod
Lol I don’t think hes missing you 