500 to 250000 Experiment Week 2 Round up
Aims:
* Proven consistency over long period of time in all market conditions.
* Building trading capital with very small initial capital.
* Following trading strat and risk management.
* Improved efficiency by reducing time spent on charts and selective trading.
* Build up capital using managed leverage to then spread bet with.
* Build of confidence in my abilities and strategies to then trade my large main account.
* 50% hit rate with 2:1 RR, should prevent blowing the account.
* To see on average how much % I make a month, week and year.
* To see how long it takes me to turn this into 250000. Which would be doubling the account 9 times or 90% with the account doubled every 10%.
Rules:
1. Deposit £500 and $500 into brokerage accounts with high leverage. We are trading this initial capital as if it is £5000, instead of depositing £5000. (I use one broker for BTC and another for FX)
2. Risk up to 1% of capital per trade. Example 1% of 5000 = 50.
3. We will try to compound our risk and reward.
4. Max exposure / risk is 2% a week.
5. Aim to make 4% a month minimum.
6. When we look to make 10% and double. For example 10% of 5000 = 500. Once we hit 5500 we then trade the account like its 10000. In actual capital we will have 1000 and will be risking 100 a trade until we make 10%.
Dec 2021 - 0.771968% %
January 2022 +8.18348 %
Feb 2022 Present - 1.132652 %
Week 2 Feb 7-14th + 0.510668%
Trades taken
GJ TP 1 Hit, SL at BE +£52.45
AU Looser ME -£6.35
GJ Looser SL -£6.75
BTC Looser ME -$12.25
Overall
+ £27.12 / + 0.510668%
Overall it was a difficult week, DXY was very volatile because of the news and it caused unpredictable market behavior, with that being said you managed to take a good trade and it payed off. We shall see if coming out of the BTC trade was the right decision or we should have just taken the L or cost your self a win. It looks like this week set up for the shorts you had been anticipating but I am still dubious because of the DXY volatility.
Lessons learnt: I need to wait until later on in the week to take my trades, some of this early trades are rushed and fake outs. Getting into the habit of manually exiting the trades is not good because I need to take my Ls and learn from them. When DXY is moving mad don't trade. Enter where you want to and not where the market wants you too. Place a trade and set and forget, do not watch it or come out too early for no reason unless you went against your strat. Wait for candles to close before making decisions based off them. Do not trade the weekends or end of the week.
This challenge is more for me than anyone else but feel free to go on this journey with me. Please note, I started this in December and have been doing weekly reviews on my own prior to trading view, however this seems to be the best platform for my reviews and going forward, my first upload today will be Week 1 just to make things easier for me haha.
This is not finical advice and is an just for informational purposes.
* Proven consistency over long period of time in all market conditions.
* Building trading capital with very small initial capital.
* Following trading strat and risk management.
* Improved efficiency by reducing time spent on charts and selective trading.
* Build up capital using managed leverage to then spread bet with.
* Build of confidence in my abilities and strategies to then trade my large main account.
* 50% hit rate with 2:1 RR, should prevent blowing the account.
* To see on average how much % I make a month, week and year.
* To see how long it takes me to turn this into 250000. Which would be doubling the account 9 times or 90% with the account doubled every 10%.
Rules:
1. Deposit £500 and $500 into brokerage accounts with high leverage. We are trading this initial capital as if it is £5000, instead of depositing £5000. (I use one broker for BTC and another for FX)
2. Risk up to 1% of capital per trade. Example 1% of 5000 = 50.
3. We will try to compound our risk and reward.
4. Max exposure / risk is 2% a week.
5. Aim to make 4% a month minimum.
6. When we look to make 10% and double. For example 10% of 5000 = 500. Once we hit 5500 we then trade the account like its 10000. In actual capital we will have 1000 and will be risking 100 a trade until we make 10%.
Dec 2021 - 0.771968% %
January 2022 +8.18348 %
Feb 2022 Present - 1.132652 %
Week 2 Feb 7-14th + 0.510668%
Trades taken
GJ TP 1 Hit, SL at BE +£52.45
AU Looser ME -£6.35
GJ Looser SL -£6.75
BTC Looser ME -$12.25
Overall
+ £27.12 / + 0.510668%
Overall it was a difficult week, DXY was very volatile because of the news and it caused unpredictable market behavior, with that being said you managed to take a good trade and it payed off. We shall see if coming out of the BTC trade was the right decision or we should have just taken the L or cost your self a win. It looks like this week set up for the shorts you had been anticipating but I am still dubious because of the DXY volatility.
Lessons learnt: I need to wait until later on in the week to take my trades, some of this early trades are rushed and fake outs. Getting into the habit of manually exiting the trades is not good because I need to take my Ls and learn from them. When DXY is moving mad don't trade. Enter where you want to and not where the market wants you too. Place a trade and set and forget, do not watch it or come out too early for no reason unless you went against your strat. Wait for candles to close before making decisions based off them. Do not trade the weekends or end of the week.
This challenge is more for me than anyone else but feel free to go on this journey with me. Please note, I started this in December and have been doing weekly reviews on my own prior to trading view, however this seems to be the best platform for my reviews and going forward, my first upload today will be Week 1 just to make things easier for me haha.
This is not finical advice and is an just for informational purposes.