Sunday, March 8, 2015

Challenge update: Stage 1 complete - next: US$ 15k

I like to tell the traders who trade with me in our trading room: - "if we were able to meet the first target (it was a difficult environment on ES when it was close to its ATH (all time highs)) then we will be able to meet the next target, the last and beyond..."

Stage 2 target is at US$ 15,000, trading with 3 lots now, we need another 20 points on ES to reach the new target, which I estimate to be achieved from one week (if we get lucky) to max 2 months, I'll keep you updated on how we progress as usual, we already start with a small advantage of US$ 500, so this journey will actually be from US$ 12,500 to 15k.

We have been using a scalping system risking only 2 points per trade that has been yielding an average of 25 points a week, we'll be trading this system this week so we might meet that target real faster.

Discipline and a sound risk management are key to success in trading, we do not know what the market will do, so take all good setups, if wrong, get out, but if it works, let the profits run.

Bear in mind: The only rule that MUST NEVER be broken is to take a BIG LOSS, do not let that ever happen to you.

"Set your target and keep trying until you reach it." - Napoleon Hill

Trade well, best of luck! ;-)

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