Hi,
My name is Chase and I've been trading currency for approximately 3 decades. I would like to try something impossible but possible to achieve; turning $1000. I have been trying this type of return for the 3 weeks and it's been working out very well. I really think I can keep it up so that I wish to start out this thread to document my journey, just in case I really triumphed.
I am doing this because I am bored sitting in the front of my computer all day. It is also because I want to find out if it's really possible. I think it's amazing if this works out. In this thread I will keep track of the majority of the trades I will make . I will also be posting screenshots of this coresponding announcement daily as proof.
How is it possible?
Risk/Reward Ratio: 1 (roughly 1)
Risk on each trade: 1% to 3% (of newly compounded daily equilibrium)
Win Ratio: 60% (3 out of 5)
As you may see, if a machine using a rr ratio of 1, meaning risk and payoff are about the same, all I need is to win three out of every five trades or 60% daily, and then I'd gain approximately 1% to 3% each day.
A starting capital of $1000 using 1.4% net profit daily compounding daily to get 500 trading days (two years) =1,043,666.09
Risk of ruin (risk of blowing my account) = miminal as long as I do not discount a string of too many consecutive losses in a row, that hasn't occurred yet. Remember that the maximum risk on each trade is just 3% so there will be no large drawdowns or losses.
The plan:
For 500 trading days in 2 year, $1000 X 1.4% compounding daily = $1,043,666.09
The machine:
Technicals:
I use the majority of the very basic indiors such as the 50ema, 100sma, 5sma, fibonacci, trendlines, pivots, daily/weekly/monthly S/R
Fundamentals:
I really do analyze only the major news such as interest rates statement, retail sales, GDP, and especially the speeches of high ranked officials. I blend technicals and fundamentals in creating my trade choice.
Note: Compounding daily is incredibly aggressive. Unless you know what you're getting into, I don't suggest trying this. I am only risking $1000. When I blew up the account at anytime, I'd still lose roughly $1000.
