If I can finish off the month with the same daily profit I’ve had every day since last Tuesday (even with these tiny trade sizes) my account will increase by 3%. So that’s for about half a month.
I hope for 5% in May based on that.
As inefficient as I was for many of my trades and as often as I closed early, I could get better and more patient. Which means I SHOULD increase my account by 10% in May.
I sure did! All green up to now!
All was going well 
I kept adding to this and not sure whether it’s going to come back. Time to close with losses?
I would say no. Keep watching it. If it looks like it’s turning, you can place a few recovery trades. If not, be conservative with your trades so you have enough buying power left when it finally does. How much of your account have you committed to this position so far?
Depends on how much you have in your account to work with. You don’t need to give up on the trade unless you can’t spare the capital.
A trader who claims to be a trainer said in a video I watched that a pullback has only a 1 in 10 chance of coming back 100% of the way to the previous support. A 2 in 10 chance of coming back 75% of the way. A 6 in 10 chance of coming back 50% of the way, and a 9 in 10 chance of coming back 25% of the way.
So if you can make a profit from a pullback to 25% of the way to previous support, you have a good chance of success.
I have no way to confirm those stats. But if true, maybe settle for break even?
@TWILS0 You look good to me. Slow down on your trades a bit. If I’m looking at it right, you still have 2/3 of your account available. Not bad for a small account. When you watch the KoF videos, pay attention to his lot sizes in proportion to his account balance (he uses different account sizes.), that’ll help you use the right amount.
I’ve taken a couple of losses, but each time I closed it out because I was impatient. If I stuck with it, I’d be in profit.
Yesterday, I got caught in a trade that went into the afternoon. (I’m in the Eastern U.S.) I set a take profit order and went about my day, occasionally checking it on my phone. In those situations, it can only do two things. It can either hit your take profit, or move further against you. Let’s assume you get home and check it, only to see that it moved even further against you (assuming you kept plenty of buying power in reserve.) Because you weren’t watching it, you didn’t place recovery trades on its way up. That means the recovery trades you place at that moment will move your average price even more in your favor.
Remember, this is forex, not stocks. There’s only so far it can move against you before coming back, especially on the one minute time frame.
Of course. I have been using 0.01 lot. I’m fairly new so wrapping my head around lot sizes and account/risk management. Realistically, if you were beginning with a small £100 account, would you recommend sticking to 0.01, and placing less trades than what I’m doing on the demo?
Who is ready for an advanced KOF trading tip that will increase your earnings?
Or shall I wait another week until people have a better handle on the basic strategy?
Ready AT
Sorry, just kidding there.
Consider if trading that small of an account is worth your time. Can you add to a hundred in capital faster by saving or working or by trading? Personally, I’d try to save more money or try a side gig until I had at least 1,000 to trade with. Do the math. Which way will get you there faster? Compounding is slow with a small account.
That’s an advanced question 
I will be entering 5 entries immediately at same size as my countertrend orders, for now.
In my practicing, it was just 1 order.
@TWILS0
As usual, SurprisedMoose gave great advice there. We are fortunate for to have him here.
I would like to add one thing, though.
If I had the opportunity to learn forex trading when I was younger, I think I would be typing this from my yacht. If you are trading now just to learn how, I think its great. If you have thoughts of taking $100 and turning it into a large account, I agree with Moose. I would look for other ways to earn funds which you could use to bump up your account.
@AmericanTrader @SurprisedMoose
Very good advice and understood. I under restimate myself sometimes. I do have more to fund an account so no worries there. I do struggle with working out risk management and lot sizes etc. Maybe best to start with a micro account!
