You "CAN" double? Really? Your accuracy is 80%! That means the word "can" is not apprpriate. 80% isn't 100%. You also have yet to experience a deveation from the mean. Your next 6 trades may all go bust, and you could be holding your 80% average over the long haul. Let me give you a gambling analogy. A guy plays blackjack on a 25 dollar table. He's hot as a pistol for 4 hours and has won several thousand dollars. He then moves to a 50 dollar table and wouldn't you know it, cools off and finds himself down within two hours. It's a simple story of money management. Stick with your current lot size and you'll survive the inevitable drawdown. Double up and become another statistic.
Good job. Plan your spending and savings wisely and stay within your comfort range. You are doing fine if you earn your personal number. Hope your success continues. And don't let the negatives that you might encounter here sway your decisions either. Don't invest too much energy trying to prove your abilities or your methods. Your confirmation and support is to be found in your monthly account statements. PM for more details if you'd like.
I guess I was wrong, most of you actually come here to look for edge, and are not capable of real reply. I won't waste my time reading what savant says. I am off this web site. why don't I just go and do what I always did. use my brain instead of waiting for someone else to deliver have fun guys and work hard on technicals
80 % accuracy over 8 months period with position trading lasting on average 2-3 days. what instrument are you trading ? You can't be trend following. Is that correct? Not that it matters. I am of the opinion that if you work on a fixed percentage of equity basis with a strategy with positive expectancy that's the way to go. Not to just double up. Higher stakes= higher stress=more mistakes in trade management. I guess you have to find out somehow what is the most you are comfortable with and which wouldn't affect your decision making or ruin your account should you have like 6 losing trades in a row. From the figures you give I would guess that should bad luck strike and if you kept your average loss under control the worse you can do is halve your account over 3 weeks. Can you cope with that?
I really find it hard to swallow when someone tells me their winning percentage is 70 or 80% but they need advice. This makes no sense. You dont achieve those kinds of win rates over a long time without knowing exactly what to do and how to do it.
PN, the market was here before your daddy got a hard-on for your momma, and it will survive your demise. There is TIME. Take it slow. Enjoy it as if it were sex. Trades are like erections, not ova. There is an infinite supply of them.
A creative person cannot make it tangible. He is always looking for the challenge. It's the "getting" and not the "having" I have lived with it for 19 years and this is all to familiar to me. He is in Love with "the love"
I did and, IMO one of the best advises ever, although it was a doble edged knife but, it sure cuts in both ways........ Cy p.s. BTW, 2k to 30 in 8 months?! then just follow what you have been doing..........let's see....hmmmm....that's a 15 fold increase every 8 months?