Ok Riz
first of all
you sound like you’re Gambling, which is never a good start, you need to get rid of that Gambling Mentality.
i think what you mean to say was that you profited $81,000 in around 6 weeks
but that’s not the be all and end all of it because this can be fixed, now let’s look at WHAT ACTUALLY HAPPENED.
to make $81,000 if we assume you did it in 6 weeks. IT AVERAGES OUT TO $2,700 A DAY
Yes it is , for most people
we can’t answer your question because we don’t know what you did .
Start like this
Tell me HOW YOU GOT $2,700 A DAY
WHICH INSTRUMENT
WHAT LOT SIZE
WHERE WAS YOUR STOP LOSS
WHERE IS YOUR TAKE PROFIT
Why would you discuss this with your broker ?
They are not your friend, they are just going to say … YES, SURE, GO LIVE, IT LOOKS LIKE YOU’RE READY
Then… they’ll take your money
at this point my feeling is NO
but i’d like to know how you plan your trade first
also i’ll tell you why NO
I have trained people in the past to trade , and i have noticed the following…
- they all start with high loss rates
- after that they gain some knowledge, Loss Rate gets lower and proportionally their confidence level gets higher
- in the beginning they can go a few days without a loss , then they suffer a big loss due to bad management or getting cocky
- later on they go around a month or so without a loss THEN THEY GET REALLY COCKY
Mate, without seeing what you’re doing, i can say this
- I have seen people go a month or so without a loss then lose it all… PLENTY OF TIMES
all this proves is… you have a good idea of how to trade , but you don’t know everything
Now, what i’ve found is the true test is this…
if you can continue this for around 6 months consistantly.
i have never seen anyone achieve the 6 month mark and then lose it all
however i have seen people achieve the 1 month and 2 month mark and lose it all
i have even seen them reach the 3 month mark then lose it all
and it’s always pretty much like you described
you go a few weeks, you get confident,
you decide to go live
NEXT STEP
YOU LOSE IT ALL
let’s do some math here, shall we
LET’S MAKE A FEW ASSUMPTIONS AND PROJECTIONS just for fun…
Account Balance = $100,000
Risk = 1%
Risk Amount Per Trade = $1,000
Now let’s assume you have a stop loss of 80 pips
so… $1,000 / 80 = $12.50 per pip
so let’s put your lot size at $12 per pip = 1.20 lots
Now to achieve $2700 a day at $12 per pip
you need to achieve 225 pips a day
now how you do that is up to you
you can do it 225 pips in 1 trade
or
you can do … say 45 trades of 5 pips each
up to you
but the question is… CAN YOU ACHIEVE 225 PIPS A DAY
and CAN YOU DO IT CONSISTANTLY FOR A MIN OF 6 MONTHS
at this stage, given your experience and given the numbers and the time you’ve spent in forex, i don’t think it’ll happen
but again… let me know how you are trading so we get a clearer picture of what you’re doing.
now there is an easier way to achieve this goal, but it would mean you are using much higher risk, which in turn would mean that you’ll probably lose your money
but again… tells us what you’re doing to achieve this amount and we’ll give you an opinion