Hold your horses…
I haven’t blown the account yet f
I just funded my account with $35 and I’m trading not to impress anyone.
You might think of this as silly but I once funded an account with $25, got it up to $43 following my trading and risk management plan.
Yes, I blew it up at one go because I felt invisible in the market. It’s really not a lot of money but I am Nigerian and I live in Nigeria so $43 can be worth an average person’s salary
I’m going to be doing things differently now
I’m going to journal only my losing trades on this thread
No wins
Just my losses
Wish me luck
Good luck!
The commission is killin’ ya’!
It’s a zero spread account. Pretty normal I guess
Ah. Ok.
I’ll be honest. It’s going to be a little tough to build a $35 account. You are suppose to “only”
risk 2% per trade. That’s $0.70.
Good luck bro, I did the same last week.
I was making profit at first following my trading rules, but the euphoria of winning makes me blow the account by over trading. I felt bad almost cried lol
You Nigerian?
I’m risking $1 per trade. It’s a small account and going any lower won’t work for me
Yes, I’m. nice to meet you here.
think you should change your broker or account type, Which broker is it?
the commission is too much for a 35$ account bro.
Risk per trade should be limited to 1% of deposit if you are new broker. This is quite conservative however reasonable setting since newbies make a lot of mistakes and it’s important to lower the cost of wrong trades .
It’s admiral markets and I’m not changing my account type. You should see the spread on standard accounts. Yish
The commission is only 0.06$ per trade which is reasonable. I used a previous broker who charged $0.07
I might not reply any more comments on broker and commission. Let’s not forget that this thread is not about brokers
Have you done the math yet?
Risking 1% of my account would mean only losing $0.35 per trade. Now, that cuts my sl down to a maximum of 3.5 pips. Come on!
I’m frankly not a newbie and I think I know what I’m doing… Hahaha
This week
I just entered my final trade for the week about 30mins ago
The week will end with a total of 11 trades
5sl, 5be, 1tp
So far, I’m down -1.58%
I’ll spend the next 4HRS reveiwing my trades and backtesting my strategy to see the time zones which are most efficient
I find that I made most losses trading during Asian or Sydney session and profits in the NY and London times.
See y’all next week
I’m treating my account as a $100 account
Same goes for my risks and percentage calculations in case you find that my math may be off point