$100 to $100,000
With proper money management, we can achieve the goal.
I prefer to take trades just before the London open.
I will trade only the ranging pairs at Asian session. I also make sure I will trade the pairs with lower spreads (max - 3 pips).
For both 20 pips or 30 pips, our risk reward ratio is 1:1.
On each pair I will have two stop orders - buy & sell stop.
If one order triggers and closes in profit then I will delete the opposite order (MY OPTION - YOU CAN KEEP IT OPEN IF YOU LIKE).
If First order closes in loose, then I will let the second order to trigger.
There are three possibilities, 1 winner / 1 loss & 1 win / 2 losses
If I make winners as I expect then there is no problem at all. But the big question is, what if I lose?
If I lose, I walk out without trading for that day. The next day I start fresh. I will check the table and use the lot size according to the table.
I will keep updating the table (Smart Money Management System) on the blog.
To open cent account, please contact me.
30 pips:
With proper money management, we can achieve the goal.
Here we go,
I have two ways to achieve it. One with 20 pips per day and another 30 pips per day.I prefer to take trades just before the London open.
I will trade only the ranging pairs at Asian session. I also make sure I will trade the pairs with lower spreads (max - 3 pips).
For both 20 pips or 30 pips, our risk reward ratio is 1:1.
On each pair I will have two stop orders - buy & sell stop.
If one order triggers and closes in profit then I will delete the opposite order (MY OPTION - YOU CAN KEEP IT OPEN IF YOU LIKE).
If First order closes in loose, then I will let the second order to trigger.
There are three possibilities, 1 winner / 1 loss & 1 win / 2 losses
If I make winners as I expect then there is no problem at all. But the big question is, what if I lose?
If I lose, I walk out without trading for that day. The next day I start fresh. I will check the table and use the lot size according to the table.
I will keep updating the table (Smart Money Management System) on the blog.
To open cent account, please contact me.
30 pips:
Investment
|
Pips/
Trade
|
Lot size
|
Profit
|
Total
|
|
1
|
100
|
30
|
0.01
|
3.0
|
103.0
|
2
|
103
|
30
|
0.01
|
3.0
|
106.0
|
3
|
106
|
30
|
0.01
|
3.0
|
109.0
|
4
|
109
|
30
|
0.01
|
3.0
|
112.0
|
5
|
112
|
30
|
0.01
|
3.0
|
115.0
|
6
|
115
|
30
|
0.01
|
3.0
|
118.0
|
7
|
118
|
30
|
0.01
|
3.0
|
121.0
|
8
|
121
|
30
|
0.01
|
3.0
|
124.0
|
9
|
124
|
30
|
0.01
|
3.0
|
127.0
|
10
|
127
|
30
|
0.01
|
3.0
|
130.0
|
11
|
130
|
30
|
0.01
|
3.0
|
133.0
|
12
|
133
|
30
|
0.01
|
3.0
|
136.0
|
13
|
136
|
30
|
0.01
|
3.0
|
139.0
|
14
|
139
|
30
|
0.01
|
3.0
|
142.0
|
15
|
142
|
30
|
0.01
|
3.0
|
145.0
|
16
|
145
|
30
|
0.01
|
3.0
|
148.0
|
17
|
148
|
30
|
0.01
|
3.0
|
151.0
|
18
|
151
|
30
|
0.01
|
3.0
|
154.0
|
19
|
154
|
30
|
0.01
|
3.0
|
157.0
|
20
|
157
|
30
|
0.01
|
3.0
|
160.0
|
21
|
160
|
30
|
0.01
|
3.0
|
163.0
|
22
|
163
|
30
|
0.01
|
3.0
|
166.0
|
23
|
166
|
30
|
0.01
|
3.0
|
169.0
|
24
|
169
|
30
|
0.01
|
3.0
|
172.0
|
25
|
172
|
30
|
0.01
|
3.0
|
175.0
|
26
|
175
|
30
|
0.01
|
3.0
|
178.0
|
27
|
178
|
30
|
0.01
|
3.0
|
181.0
|
28
|
181
|
30
|
0.01
|
3.0
|
184.0
|
29
|
184
|
30
|
0.01
|
3.0
|
187.0
|
30
|
187
|
30
|
0.01
|
3.0
|
190.0
|
31
|
190
|
30
|
0.01
|
3.0
|
193.0
|
32
|
193
|
30
|
0.01
|
3.0
|
196.0
|
33
|
196
|
30
|
0.01
|
3.0
|
199.0
|
34
|
199
|
30
|
0.01
|
3.0
|
202.0
|
35
|
202
|
30
|
0.01
|
3.0
|
205.0
|
36
|
205
|
30
|
0.01
|
3.0
|
208.0
|
37
|
208
|
30
|
0.01
|
3.0
|
211.0
|
38
|
211
|
30
|
0.01
|
3.0
|
214.0
|
39
|
214
|
30
|
0.01
|
3.0
|
217.0
|
40
|
217
|
30
|
0.01
|
3.0
|
220.0
|
41
|
220
|
30
|
0.01
|
3.0
|
223.0
|
42
|
223
|
30
|
0.01
|
3.0
|
226.0
|
43
|
226
|
30
|
0.01
|
3.0
|
229.0
|
44
|
229
|
30
|
0.01
|
3.0
|
232.0
|
45
|
232
|
30
|
0.01
|
3.0
|
235.0
|
46
|
235
|
30
|
0.01
|
3.0
|
238.0
|
47
|
238
|
30
|
0.01
|
3.0
|
241.0
|
48
|
241
|
30
|
0.01
|
3.0
|
244.0
|
49
|
244
|
30
|
0.01
|
3.0
|
247.0
|
50
|
247
|
30
|
0.01
|
3.0
|
250.0
|
51
|
250
|
30
|
0.01
|
3.0
|
253.0
|
52
|
253
|
30
|
0.01
|
3.0
|
256.0
|
53
|
256
|
30
|
0.01
|
3.0
|
259.0
|
54
|
259
|
30
|
0.01
|
3.0
|
262.0
|
55
|
262
|
30
|
0.01
|
3.0
|
265.0
|
56
|
265
|
30
|
0.01
|
3.0
|
268.0
|
57
|
268
|
30
|
0.01
|
3.0
|
271.0
|
58
|
271
|
30
|
0.01
|
3.0
|
274.0
|
59
|
274
|
30
|
0.01
|
3.0
|
277.0
|
60
|
277
|
30
|
0.01
|
3.0
|
280.0
|
61
|
280
|
30
|
0.01
|
3.0
|
283.0
|
62
|
283
|
30
|
0.01
|
3.0
|
286.0
|
63
|
286
|
30
|
0.01
|
3.0
|
289.0
|
64
|
289
|
30
|
0.01
|
3.0
|
292.0
|
65
|
292
|
30
|
0.01
|
3.0
|
295.0
|
66
|
295
|
30
|
0.01
|
3.0
|
298.0
|
67
|
298
|
30
|
0.01
|
3.0
|
301.0
|
68
|
301
|
30
|
0.01
|
3.0
|
304.0
|
69
|
304
|
30
|
0.01
|
3.0
|
307.0
|
70
|
307
|
30
|
0.01
|
3.0
|
310.0
|
71
|
310
|
30
|
0.01
|
3.0
|
313.0
|
72
|
313
|
30
|
0.01
|
3.0
|
316.0
|
73
|
316
|
30
|
0.01
|
3.0
|
319.0
|
74
|
319
|
30
|
0.01
|
3.0
|
322.0
|
75
|
322
|
30
|
0.01
|
3.0
|
325.0
|
76
|
325
|
30
|
0.01
|
3.0
|
328.0
|
77
|
328
|
30
|
0.01
|
3.0
|
331.0
|
78
|
331
|
30
|
0.01
|
3.0
|
334.0
|
79
|
334
|
30
|
0.01
|
3.0
|
337.0
|
80
|
337
|
30
|
0.01
|
3.0
|
340.0
|
81
|
340
|
30
|
0.01
|
3.0
|
343.0
|
82
|
343
|
30
|
0.01
|
3.0
|
346.0
|
83
|
346
|
30
|
0.01
|
3.0
|
349.0
|
84
|
349
|
30
|
0.01
|
3.0
|
352.0
|
85
|
352
|
30
|
0.01
|
3.0
|
355.0
|
86
|
355
|
30
|
0.01
|
3.0
|
358.0
|
87
|
358
|
30
|
0.01
|
3.0
|
361.0
|
88
|
361
|
30
|
0.01
|
3.0
|
364.0
|
89
|
364
|
30
|
0.01
|
3.0
|
367.0
|
90
|
367
|
30
|
0.01
|
3.0
|
370.0
|
91
|
370
|
30
|
0.01
|
3.0
|
373.0
|
92
|
373
|
30
|
0.01
|
3.0
|
376.0
|
93
|
376
|
30
|
0.01
|
3.0
|
379.0
|
94
|
379
|
30
|
0.01
|
3.0
|
382.0
|
95
|
382
|
30
|
0.01
|
3.0
|
385.0
|
96
|
385
|
30
|
0.01
|
3.0
|
388.0
|
97
|
388
|
30
|
0.01
|
3.0
|
391.0
|
98
|
391
|
30
|
0.01
|
3.0
|
394.0
|
99
|
394
|
30
|
0.01
|
3.0
|
397.0
|
100
|
397
|
30
|
0.01
|
3.0
|
400.0
|
101
|
400
|
30
|
0.02
|
6.0
|
406.0
|
102
|
406
|
30
|
0.02
|
6.0
|
412.0
|
103
|
412
|
30
|
0.02
|
6.0
|
418.0
|
104
|
418
|
30
|
0.02
|
6.0
|
424.0
|
105
|
424
|
30
|
0.02
|
6.0
|
430.0
|
I am sure you know this, but you are going to have to win 50 for every 25 you lose just to break even, not including the spread,if you use that type of S.L. Any plans to avoid this?
ReplyDeleteThanks for your interest.
DeleteI know that the SL is twice than TP, every trade needs some breathing space. That is the reason why I expect only 15 / 16 trades per month. Only think I can do to AVOID it is, I must double the size of lot in the next trade (martingale method). Which I don't want to do.
1. So what we can do is not jump in to any trades just for the sake we want to trade. Once we find a good setup we jump in.
2. Another thing we can do is, instead of 20 pips in single trade, we can split two trade of 10 pips each, but 20 pips Sl is too little breathing space.
3. One more option would be, divide the lot size to exactly two / three and trade for 20 pips per trade on different levels or different pairs.
Please check Strategy 5 (http://forex-my-passion.blogspot.com/p/stragety.html)
DeleteWith this you will have Risk Reward ratio of 1:1