Hi Viper, i think Adnan said before. His money management is such that he utilize an initial capital of 10k Targeting the watermark of 60k. Once 60k objective is met. He cash out. Start over again with 10k or maybe 20k? Thus, he have a stop loss which is the entire initial capital of 10k. He has confidence of reaching 60k more often than not.
Adnan if i'm wrong. Please correct me. I believe so because that's what i have been attempting to do. But i'm still so caught up with setting up stop loss for fear of societal criticism.
As of now, personally i have a protective stop which can be far at times but it was deliberate. I will be looking to average my position ( counter-trend strategy ). If fundamental news make me worry, I may hedge my position to reduce use of leverage as well. If i think i'm wrong. I will bite the bullet, which took me a pretty long time to be able to execute.
A word of caution for those out there attempting to mimic Adnan. Adnan obtained his 1st pot of gold 400k. His confidence and ability of turning 10k into 60k is rock solid. If your win loss ratio is horrible, understanding of position-sizing in relation to your available margin is a total blank. My advice is to set stop loss because beginners doesn't know what they are doing.
My only concern for Adnan is that does he have the discipline to cash out the 60k and start over with 10k or 20k. Or would he succumb to temptation to reach 1million watermark quickly and continue trading without cashing out.
Good Luck Adnan, i believe you can do it! Please share more of your current trade. I want to make some money too!!