After 6 weeks equity is up 50%
Using higher leverage makes trading difficult and risky, on my normal account i risk 2% on every trade so it really does not make any difference if the stop loss is 50 pips or 500 pips I just adjust the position size. I just cannot do that with this tiny account, i follow strict rules which mean i end up taking trades and then stopping them when they loose -10% inevitably often the rules require opening them again and sometimes loosing again. It is not a trading style that I like or that comes naturally to me but so far it is being successful. I designed the strategy specifically for this account, i suppose it is somewhat related to my semi pro poker days, fold under pressure and bet when you think you are ahead.
The results show a 55% return which is really promissing, when the markets begin to trend again I hope that this will rise quickly however at this rate it will take exactly 12 months to get the account to $2,500. I now expect that to be my minimum target as it assumes difficult trading conditions for the entire 12 months, a more reasonable target would be $5,000 in 12 months which assumes 6 months good trading and 6 months difficult. (of course that does mean multiplying the account by 100 in 12 months which is the thing I am really chasing)
Other statistics point to the difficult trading conditions Drawdown is at 39% that is higher than had been expected I set 33% as the target for this. Win rate is at only 40% and the starting target had been 50%.
Comparing this attempt with my previous ones I am pleased, the new rules have had the desired effect of keeping me in the game when things go badly, in previous attempts I would have been bust at this point so the new improved rules are working well.
All of the trades come from my signal service, I am offering that for free to customers who sign up and trade through my affiliate link, alternatively I do have a subscription service if you are interested.
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