I’m Mike from London. I’ve been trading for about 5 years with ups and downs. I’ve got a good understanding of risk management - through the experience of losing. I’ve been on the sidelines of babypips for years. I currently trade a 15k account and I can make money but I’m not sure the amount I can make is ever going to pay me a proper wage.
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I’m interested to chat with traders who have managed to scale up to make enough to live off.
Hello and welcome Mike. 15k is a lot of money. Hope you know what you are doing.
I risk 1-2% per trade and my win rate is pretty good. So at the moment I’m in no danger of losing the account - but without risking a lot more I can’t see myself really earning lots. Am looking for ideas. Any suggestions?
Hi Mike from London,
5 years is not bad most have given up by then so you must be as mad as the rest of us.
15K is that through a prop challenge firm like ftmo or 5%ers offer as ive been looking at those myself.
Whats your strategy, and preferred time frame to trade, what pairs do you trade, do you trade full time or hobby?
cheers bud.
I mainly trade fx, main pairs, working on 15 min charts a couple of hours a morning. My money, I started with less and I’ve built it up. I’ve seen some of the prop trader ads but not sure about them. Any advice?
Advice from me, nah, Im still a break even trader, not profitable like yourself.
I have joined a group tho and that has had a massive impact on my trading.
I just trade eur/usd and gbp/usd correlated with the USD chart, mainly market structure, liquidity and fractals using higher time frame bias and lower timeframe entry usually aim for 3R, I dont try and run trades anymore.
How do you trade technical, fundamentals, priceaction, indicators, structure ??
did you learn off babypips or other sites ?
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3R is quite impressive
I agree, I used to think the lower time frames were noise and just untradeable.
Hey Mike,
Once you have a trade plan that starts making you money and you have a risk management strategy that keeps your drawdowns low, it is only a matter of time before you can make some real money. 15k is a good size account but you can’t expect to make a full time wage on it. Work on building your account as you are, the smart way. Keep your head up and in a few years you may have the potential to start really supplementing your income.
Where do you live?
Have you considered trading options?
I have the trade plan and the risk management - just compounding takes too long. Not earning enough. Are you a broker?
London.
Why would I consider options - and what options are available to me?
15k is an avg amount to get into the options space. More leverage, better edge, more visibility, less risk.
Nope I’m a trader
Am not aware of options I can trade with 15k??
Go to youtube, search out TastyTrade. Watch every single video you possibly can. You’ll thank me in 2-3 years from now.
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Not available in UK
Simple google search: Top 5 Best Options Trading Platforms UK - Compare Brokers
Good luck out there…
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