Hey Speculation!
Thanks for your interest and questions. The compound interest example it a lead in for attention grabbing. The videos go into many examples of compound interest and how this is indeed accomplished with 6% compounded monthly. This equates to approx. 25 pips at 2% risk per trade.
For your benefit you should spend a few minutes in the first 5 videos in the list. It will remove a lot of your doubts.
GLGT. :57:
Happy birthday Mike! 
I am not elequent enough with my posts, yes you will have a 100% increase of the original 2% risked on the trade. Go through baby pips school to learn the general frame work of the market and leverage. I will tell you I only follow two traders one is Michael and the other is Chris Lori.I am blending both approches to the market and both complement one another. If you chose not to follow all the work Mike has done then It will be your loss.
Damon
Thank you for the responses. This has given me more confidence to begin studying the ICT method, and others for that fact.
Iāll go through the videos to gain a better understanding before I start questioning too much.
Also a further thanks to Michael for posting all this free guidance and making it available to people like me.
The value of a pip changes with your lot size. I canāt remember the names of the sizes but the smallest size you can trade on mt4 is .01 lots which is 1000 units of a currency. The pip value is .1 so a 20 pip move is $2
Michaelās Birthday is next week Aug 08 12ā
That would be a micro lot. I think though Oanda Offers a nano lot which is 100 units. I could be wrong though. that would make the pip value .01
Happy Birthday Michael! Last year I said my dad is moving here ā¦ well the āeagleā landed today
On oanda you can trade a single unit. But not thru mt4. I think. Iāve placed am order for a random number like 568 units before lol.
Sorry for the brief reply before it wasnāt much helpā¦
The great thing about forex is that brokers offer high leverage, meaning you can buy a lot more currency than what you have in your account.
Now if you made 2% on one trade with a a profit of 25 pips, that would mean you now have $1025 in your account. So the next trade you make you would be looking to make 2% of $1025.
You would use a position size calculator to work out how many units of a pair you need to buy for each trade to make those 25 pips worth 2% of 1000.
If you go through the baby pips school from the beginning it is really helpful in explaining the basics.
Position Size Calculator: Free Online Forex Position Sizing Calculator
Above is a link to the position size calculator. As I said the baby pips school is brilliant!
Yeah, on Oanda you can trade any number of units. If you open the trade on Fxtrade and then monitor it on MT4, it will round down the units to the nearest 1000, but when you close the trade it will adjust the profit or loss accordingly 
Just another reason why Oanda is top notch 
Bach11 bro I am extremely glad to hear that! I remember you saying you want to teach him FX trading, now itās time to spread the ICT love bro!
[video=youtube_share;SYbfJy73uy0]http://youtu.be/SYbfJy73uy0[/video]
Thanks for the Birthday wishes folksā¦ Wednesday it is officialā¦ the big 40! :17:
Talk with you on Wednesday folksā¦
[B]GLGT[/B] :57:
Thanks Michael, was just looking for something to watch.
Haha I had just an inkling not to go into my prop firm the entire week until Friday, I went in on monday said I have no idea whatās gonna go on this week in the market, left, checked the calendar thought hmmm this is a really fundamental news heavy week.
You had Knight Capital going bat-Sh1t crazy, FOCM, NFP, and interest rates this week.
If there wasnāt a technical issue this week which I found out on Friday, we all found out at the most inopportune time I would be up 300 bucks for Friday alone :(.
Technically I went in monday, felt the market was kind of off, then went in on friday expecting a lot of bullish action (which happened). I didnāt just match the full time traders mike, I Whoopād em. They made 100 bucks, I was cheated out of 300 because after my first 100 bucks was unrealized I felt the need to take profits but it wouldnāt let me short cover, the techs just said oh well simulate what you did again and you must use your live account. I made another 100 they disabled my exits and basically paralyzed me, then they said oh well you didnāt have the buying power, then just went on their marry way. It happened again on my 3rd hundred and by now the manager was screaming at the techs because I wasnāt the only one with the issue. Someone was also playing Goldman Sachs, I think he was shorting most likely he was because they only scream when they lose, I think he had dropped 10,000 shares and lost 6c.
All in all I am looking forward to possibly expanding, maybe even delve into the NSDQ, and DOWJ, but thats not for a while and I am targeting their 2k in a month policy to be read as full time by the end of this month hopefully Iāll come close or meet it, as well since I know nobody has done it if the company does well and they do start cutting some more cheques around this time I can finally do what I wanted if I was one of the top dogs in my category and share the wealth.
Thanks Mike! I hope you are reaping the satisfaction of being a mentor and a leading example.
Cool video again! Happy 40th!
Always watching the other markets to inform decisions. Reminds me of my first ever trade buying shares in Rolls Royce via my bank in 2008. I bought simply because the line on the graph was going up and I figured itās going to keep on going! Itās been doing it for 2 weeks! It didnāt lol.
I agree with your comment on highlighting possible OTEās that happened in the week. It confused me when I first came here because I was seeing all these possible entries but many didnāt have confluences that I could see to support taking them. I started to think I was missing all of these golden opportunities wondering why I never took that trade. Then I saw the trades you said you actually took and they made perfect sense. After all itās about what we see as individuals like you say.
Have fun everyone.
I reached 40 just a few months ago. I guess now I can accept my 30ās. Haha. Hope u have a great 40th!
Happy 40th, all the best
Limit order triggered at 1.5550 for the following reason
Sadly, there was no time of day confluence, did not expect my limit to be triggered that fast lol.80
Edit: 50% at +25 pips, 40% at 80 pips, remaining just closed at 1.56500 @ +100 pips.
Overall, a successful week trade.
nice! you should already be at BE?
I went long to early at LO, bigfig+CPā¦ jumped the gun a little
was starting this week very eager to take more trades if they line up with my rulesā¦
-2%
saw the setup you have taken, but I set a rule for myself to stop for the day if I lost 2%ā¦ so Iāll be waiting until tomorrow.
make sure you set your SL to BE if its not already there, since I believe Oncle Ben will speak in half an hourā¦ could turn your trade in a lovely lightning if youāre lucky;)
cheers mate
