Last month was a busy one for me and did had much time to trade in the contest after I had quite a huge DD, but at least I've managed to bring back my account to BE.Starting from this year I've posted at beginning of each month my GOALS, for the current month and I want to track my own progress and how I grow up my experience in the markets.
This is the only way you can prove yourself that you're growing up as a trader by tracking down all your performances and your discipline to follow your plan.
- April's Trading Plan:
I'll be looking for setups that can give me at least 100 pips/ position. If I'll manage to achieve my goals by the end of the month I should have a net profit of 1000 pips,and if we take in consideration that I'll be trading full size position ($5Mill/position) this should translate into $500k profits and my equity balance should be $600k. This is just a rigid example as I know that your pip value will be different than $500/pip movement on non USD pairs.
Bear in mind that my management risk strategy is very aggressively and can lead to higher drawdown but if I manage to time the market "to the pip" any huge DD can be eliminated. This is just a demo competition so in order to win a prize, most often you should play it differently than you real money account. I really enjoy all the excitment from the competition and the fun.
Wish everyone good luck!
Best Regards,
Daytrader21.
PS: This month I really want to win it
) 