MoneyNVRSleeps 5% a day Money Mangement Plan

Beginner Questions
496

Going to be honest. Not well… I have aggressive goals as well so my current plan is to use maximum leverage across 20 pairs and trade the daily candle. I set my trades and forget em. My biggest losses have been longing at a high thinking it’ll go higher or playing the range and not paying attention to how price action is breaking down. I’m thinking that I’m spreading myself too thin by playing so many pairs. A lot of the time I’m not sure where price is going to go at all and yet I still put in a trade. Thus, I’m feeling no traction with success at the moment.

But what it comes down to is that my trading plan probably isn’t as effective as I think it is. I tried to program it on that site but it didn’t work out too well. I couldn’t get a positive result backtesting, but then again I couldn’t program it as accurately as I wanted to. So I’m forward testing right now and, well, I’m not as precise and successful as I want to be. That doesn’t mean I don’t got a good mind for trading. It just means my system don’t work. (probably)

Lol PipNRoll.

497

With big goals you don’t have the luxury of taking breaks when others are. You should be in the market as often as possible to get every opportunity available. So i’m expecting you to still be trading Money!

498

Man, not much brian work with that strat, no?

499

Well. I look at the 2 and 4 period LWMA applied to high/low. I also look at the daily/weekly/monthly open as well as trend. With those combined with price action and S/R, you should have a good idea where price is going, above 50% at least, or so I thought.

edit: i use a lower time frame to try and catch the high or low of the day while going along with the trend.

500

I don’t know what to make of this thread anymore, it’s just turned from the totally sublime to delusional…As much as I like to encourage dedication and self belief it’s also good to include a reality check from time to time. Good luck and all that…

501

Hey Jezz, hopefully it has a absolutely incredible mindblowing ending,

502

you know, with 33 Billion, i could buy almost every single team in the NFL

crazy,lol…

503

[QUOTE=“MoneyNVRSleeps;549402”]Hey Jezz, hopefully it has a absolutely incredible mindblowing ending,[/QUOTE]

That’s what she said… HEYOOO!!!

504

BWHAHAHA,

Good stuff

505

To all the newbs, look at money’s previous posts. A winning streak of small wins wiped clean by a huge loss.

You know what they say, history repeats itself. :59:


506

ATTACHMENT TO $33BILLION

To all the newbs, look at money’s previous posts. A winning streak of small wins wiped clean by a huge loss, but learned many lessons that goes to show hard work pays off, and you cant live in the past.

You know what they say, Haters will Hate :13:

507

Hey money now im also working on a MM strategy, im already done the paperwork but it really needs some good entry and exit points ,which can be aligned with the price action and the RR settings.Mine is also a gamble,a very agressive one but a very high probability one, and its not martingale.When i will finish he EA which will trade this MM what do you say if we compare our trading results with a myfxbook profile?

508

Haters gon’ hate* :cool:

Btw what’s an MM strategy?

509

what they don’t understand is that it takes losses to learn how to do it right. now that you got all the losing out of the way, all there is left is the winning!!!

i wanted to help you out, so i made a week by week plan for you, to show how to get from $100 to $30,000,000 in about a year. i think it will be good to check your progress and keep things movin in the right direction…

moneyplan.jpg700×461 85.6 KB

moneyplan.jpg700×461 85.6 KB

510

Good stuff Corey, thats right on point.

Those are the figures, which, 5% a day, including 2.5% on Sundays, should round me around 27-28% a week…

Thanks for the spread. Imagine that perday, and not per week, 52 trading days to $30 million,

sick

511

Morning kashix, MM means “Money Management”,

512

that would be awesome. maybe your 5% per day goal is limiting you? you should really avoid capping your potential IMO

513

let me clarify:

instead of your week looking like this:
monday: 5%
tuesday: 5%
wednesday: 5%
thursday: 5%
friday: 5%
[B]Total: 25%[/B]

it [I]could[/I] look like this:
monday: 6%
tuesday: 9%
wednesday: 3%
thursday: 14%
friday: 8%
[B]Total: 40%[/B]

I think trading is like professional sports. as an athlete, you’re going to have your good days and your not so good days, and it is important to really capitalize on those prime trading days.

514

Absolutely Corey, no doubt…

Right now, Im lookin for the most definite trade, as I think Winning is very important, as you can see by my strike rate.

My entries are pretty good, but I cut them off to soon, and sometimes, wayyyy to soon, mainly because of my trail stops i attach to every trade…

Today I am working on this problem… I should be around 25% a day to be honest…

$30 million in 52 trading days would be a rabbit out the hat type stuff, lol, but I think I could pull it off.

SMH, unreal, huh…

First step is always the hardest, and even tho i had a moment of, " Gulppp", I pulled out the week unscathed and a tad off schedule, but overall, pleased and relieved in a amazing week of work…

I cant wait for the new week to open…

I have to get this ball rollin as fast as possible… I have very little option at this point…

60 pip days is what Im after, and Im confident I can get this in the near future…

Its a mountain to climb, Im strapped up and ready to get to level 2,

Thanks for your input and enthusiasm towards my mission Corey,!!

515

It all looks good on paper, no doubt.

But have you considered as your trade size increases (the number of lots), at some point your ‘edge’ will diminish due to partial fills and slippage costing you more than the benefit of the trade it’s self. To make matters worse, you will reach this tipping point much much quicker as a scalper as your risk per trade is spread over few pips: hence you trade a larger position size.

Of course… you have to hit this level first…and like your trading plan, my response is also on paper.