I’m currently going through the School of Pipsology. I have a question that I’m sure can be answered fairly quickly.
I’m currently demo trading with OANDA. My goal is to increase my account balance 1% a day. Using a 1% risk per trade. I haven’t missed my goal yet.
I started with a 10,000.00 balance and it’s now up to 13,13874.
My question: Is achieving a 1% increase per day with a $200,000 account basically the same as making 1% per day on a $10,000? Beside the psychology of dealing with that large of an amount of money, are there any other barriers? Is there anything that works against someone with a larger account balance as opposed to someone with a smaller account balance?
Thanks for the help, and this is a hypothetical question.
works against is people aka traders tend to platform when they are content.
You are doing fantastic, you must have tremendous self control!
As you move thru your funding levels you will need to keep better and better records just like the real business that it is so that your will know what to tweek for the coming period.
If you leave the winnings in the account for max compound interest the equity will continue to grow much faster ERGO so will your 1% risk size making each trade that much more potential profit.
Welcome, after your satisfied with your consistent profitability day in and day out to the point of boredom then sizing and leverage become a real important subject.
$200,000 and less; basically it’s all the same. Unless you’re scalping their shouldn’t be much difference between trading $2,000,000 and $2,000. Main difference being that a trader may have to punch in 10 orders to fill a trade, that’s a 1 minute job. I imagine their may be complications to day-trading accounts worth mega-millions.