Over a month ago, after a few drinks, a trader friend challenged me to take a small account and compound it up. I stupidly agreed. I'll journal the experience (equity only, i'm not disclosing trades). Starting account equity: $25000 at 1st June 2015 Closed equity to date: $22500
Thanks for your posts. $25k which is £17k or summit...c'mon, it's not much in the grand scheme of things. I will be trading anything i fancy from indices to forex. High leverage, of course! I'm slightly peeved that i lost 10% last month, hence this journal to keep me a bit accountable.
i'm taking anywhere between 2% to 10% risks, so a bit of gunslinging...friend reckons i'll lose the lot, i say i should be able to make multiples up to 10x in a year. Well, i am putting me money where me mouth is!
A friend of mine told me trade at a max risk of 15-30% after which chances reduced to 1:1000 of success. Be brave not foolish
When you set risk at 2-10% is that a hard stop and similar question for targets...do you apply hard targets or discretionary exit? Good luck, hope you do it.