Hello Enrich77,
I’ll respond to this message with what I have understood from your writing, so if my opinion isn’t accurate please do not take it personally, my intention is NOT to offend you but makes you feel uncomfortable with your thoughts to protect you from your self because I see uncertainty and you are using wrong words and you are focusing on the wrong targets.
First thing first, “It is time to go live. I have tons of backtests and forward tests. It should work. Waste of time to continue testing.”
Here I need some more information about it, yes you have tons of backtests, did you find 1 system that it works for you? the time frame you are going to use? your entry model? your exit model? partials? always you will keep full volume till the target you have set? And if closes you breakeven what you are going to do? How you will react? Will this make you feel unsettled?
The “It should work” sentence doesn’t convince me, if you have a strategy that gives you consistency, then you have a plan, if you have a plan then you can profit in these markets. If you don’t have one, then you are gambling, my opinion on that? If I may propose you, wear your tuxedo, go to the casino, and play roulette with this 100$. At least there you know that you are gambling 100% and you are also in the right place without daydreaming.
Yes, you can start with 100 $ and yes you can increase them to 1000$ but how much is going to be your risk-reward ratio? 1%? 1 for 5? risk 1$ to take 5$? Then good night, 1000$ are coming in a very long time.
Yes, there are plenty of moves every day in the market, for the market makers, you are a market maker? 10%? 10 wrong trades and the 100$ are gone. more than 10%? less wrong trades and again, the 100$ are gone.
There are many prop firms that give you accounts with 5 or 6 figures, BUT before we get there, they offer also trials, but with trials, they keep your records, your Metrix, and you have log statistics and you can review what work and what it doesn’t, I highly suggest you pass 2-3-5 times the trial, review the MetriX, learn your self in trading how reacts and then consider buying one challenge and move on, one step at a time. Or more, until this “it should work” be “I have done this X times and it gave me X risk-reward ratio and I’ll be profitable, so now it’s my time to go live”
So I think this covers also your reviewing your trades, which you can do in your email on Google with an online excel form.
Last thing about taxes, you are stressed enough about something that you don’t have, so it is like “I’ll buy a new house with a garage because in the future I’ll have a Maserati” but now you are using a bicycle,
if you want to talk about taxes, in my country, Greece, the taxes from forex are 15%, so for every x amount I make, directly I deduct 15%, for the declaration of the trades, my broker gives me a list of the trades every end of the month, and I give this to my accountant, and my accountant processes it through the government and so on and so on.
I’m going to close this message and tell you this, please, if you don’t have a system, please, do not consider to try to invest this 100$, I don’t know where are you coming from or how hard/easy you earned this amount of money, the thing I know, is your money. If you lose them, and you don’t try to change your system, and try again with 100$ you will lose your faith, you will thing this is not working and you will make other mental problems that you don’t have right now.
Find a system and fall in love with that, one that it works.
I lost a lot of money in the beginning, I didn’t had a system, I had a big ego, I was overcomplicating things, I was procrastinating with irrelevant things, start to have trust issues in myself, self-doubt, not enjoying life and if I continue the list goes on.
Suddenly I took a decision, evolve, find a system that works, and follow it NO MATTER WHAT, and now I can’t be profitable with a 40% success rate.
This is from me, in a friendly tone.
Until next time, take care, be healthy and trade safely.