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.
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?
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 ?
3R is quite impressive
I agree, I used to think the lower time frames were noise and just untradeable.
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?
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.
Not available in UK
Simple google search: Top 5 Best Options Trading Platforms UK - Compare Brokers
Good luck out there…