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.
2 Likes
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?
1 Like
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?
1 Like
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.
1 Like
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.
1 Like
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
1 Like
Weekly Update on Account
I got stopped on the NZDUSD trade this week because I have missed a detail which is money draining from stocks went to bonds and it decreased yields and made NZD much more weaker than dollar. I have realized my mistake a bit late.
Drawdown is 5% now.
1 Like
I will not be taking any trade in the challenge account for the week. I’ll only manage the existing and long term trades on main accounts. Will manage GOLD and S&P 500 trades, waiting next week for weekly forex trades.
I need more clarity on forex and I believe it is crucial to know when to stop and when to enter, rushing is never needed nor profitable while trading.
I’ll share my Gold and S&P analysis on twitter, you can track them there I will not post them in here since they are not related with my challenge.
Have a good week !
Update on DXY
If you have been following me you know that I am bearish on DXY and have been waiting for that collapse for a very long time. It just filled my second target for the short term and looks like having more room to go down. I expect more weakness from DXY and currently long foreign currencies, gold, and short DXY, SP500
Update on NZDUSD
I was eyeing the Monthly GAP which I marked with red box to get filled and finally got that with a very ugly and huge wick. Immediately longed after it and will be riding this trade for a long term position. Looking to add on the way up and expecting a directional move on this one. Foreign currencies will gain momentum and strength.
Due to current market conditions and opportunities, I won’t be doing weekly trades instead I’ll be sticking to longer terms swing trades for this year. I will share the updated charts and current profits weekly so you can keep up with what happened. It is crucial to adjust strategy according to market conditions.
Due to current market conditions and opportunities, I won’t be doing weekly trades instead I’ll be sticking to longer terms swing trades for this year. I will share the updated charts and current profits weekly so you can keep up with what happened. It is crucial to adjust strategy according to market conditions.
more oment profits weekly so you ca
I will not be taking any trade in the challenge account for the week. I’ll only manage the existing and long term trades on main accounts. Will manage GOLD and S&P 500 trades, waiting next week for weekly forex trades.
If you have been following me you know that I am bearish on DXY and have been waiting for that collapse for a very long time. It just filled my second target for the short term and looks like having more room to go down. I expect more weakness from DXY and currently long foreign currencies, gold, and short DXY, SP500