I just shared my last year’s experience on the forum. I was able to make 240% last year with the mid-high risk trading model. I have started another challenge this year with again 50.000 CHF. My initial goal is to make more than 100% this year and will push my limits to see how far I can take it. I’ll be sharing my trades regularly here and see how it goes.
I’ll be taking weekly swing trades and will share them as they occur.
So far I have been able to make 39% gain in 1.5 Months.
AUDUSD was my trade for the last 1.5 weeks. I set my order and waited for AUD to retrace and fill my longs. As expected it went up quite nicely and I was able to close my longs at Weekly High.
It was on point since I bought the Weekly Low when the market opens on Sunday night and I see the price getting week by the mid of the week so I decided to close the position and collect profits since I was already happy with it. This one was as large as 75 pips and made me enough profits for 2 weeks worth of wait.
I have shared my analysis before and during the trade happens on twitter. I do put this link here to show the live recorded trading video as a proof and an entertaining video. I hope to share my process here each week.
Update on DXY
Looks like DXY is going to be stretching further and a higher high is possible. My higher timeframe bias is still bearish and I do still expect to see dollar to sell lower during the year. This week I’m leaning bullish and expecting another run.
Update on AUDUSD
Last week provided a nice run and profits for me with this pair. I’m currently short and expecting it to go lower and leave highs unclaimed. I expect it to go and make a retest and clean stops. I am risking 5% of the balance for 7% gain in the account.
How much do you risk per position, percentage wise?
Thanks for asking. It is 5% risk for this week’s trade I’ll include it in the weekly posts. For mid-high risk profile that im using, it will be 3-5% on average for all trades.
So basically the lowest you go is 3%
Yes, for this account. Any funds im managing higher than 100,000$ I use 0.5-1.5% risk.
That makes sense.
I also use a fixed 3%, and sometimes i considering to risk up to 5%, but, the draw down from that would be too high of a risk for my emotional state.
But it’s nice to see someone doing it successfully.
I appreciate it thanks.
I optimize it according to my confidence about the trade. If im too confident then I max the risk but if not i keep it lower. It is safe for me to say that I have no emotions at all. I can hold a trade for 2 weeks without touching it. It was a challenge when I first started but I got rid of it as I process. it is crucial to overcome that problem.
I understand where you are coming from.
The longest i’ve held a position open is 23 days - of-course i manage the trade in that time duration (taking out small portions as levels of S/R are breached, and trailing my SL if there is enough breathing room)
Do you go for the home run, for example, you risk 3% and you don’t touch the trade until it’s hit or miss, or you sequentially decrease your risk as the trade progresses in profits?
Well no, I don’t leave the trade open for whatever happens. I do analyze the PA as it happens during the week and if it’s not developed at all, I leave it for another week. If it moves close to TP and week is about to end, then I close it manually.
Ex. I enter a short and for 1 week nothing happened, just sideways. Next week it starts selling off and my TP is at 100 pips, If price does close to 80-90 pips about wednesday-thursday then I close it manually to secure profits.
I do stick to my plan but still making the wise choice by calculating the opportunity cost etc.
Of course.
Ok, but specifically.
For example, you enter with 2 lots, and at week’s end you are in profit, and price has reached a major S/R point, and now it’s stalling, because people are cashing out.
Do you leave your entire lot size on the table, or do you take out 50% for example, and let the rest go to it’s full target, if you believe there is still room for the trade to go your way?
If I see it’s at a major S/R point and I have satisfying profits I usually close it fully and leave nothing to analyze again during the weekend and if I see more to come I enter back on sunday. If not, I look for another pair to get volatility.
Update on AUDUSD
Finalized another trade, im quite happy with this week. It was well expected and completely filled the TP while I was sleeping.
Weekly Update on Account
Account growth have reached to 49.3%. I think its off to a great start and since im not going to be withdrawing anything from the account, im excited to see how the balance will be at the end of the year. Im aiming to surpass last year’s results.
Update on DXY
Alrighty, here is the perspective for the week. As I mentioned, this was the top for me on DXY and I expect new lows for the year for coming weeks. I expect this week to continue sell off and it gave me perfect retest and rejection. I am bearish
Update on NZDUSD
This week I’ll be looking at NZDUSD and I longed it during the sunday open when there was a huge gap. Got perfect retest and rejection from the GAP and now filled the sunday open. I expect further rally through Weekly High.
-Initial risk is 5.5%.
Update on DXY
As expected, DXY sold really badly. Keep an eye out for your investments folks because this is not it. As I always repeat, I am bearish for the year on Dollar. The further decrease will be the case for the year. Will analyze it on the weekend for the next week’s PA
