Sunday, November 1, 2015

Challenge update: Stage 3 complete, next target: US$ 30k

After 5 long weeks Stage 3 has been completed, we have reached the target of US$ 20,000.00, now we're ready to move on to the 4th Stage at US$ 30,000 trading 6 lots on ES (S&P500 e-minis) from Monday.

We have started the Challenge on September the 14th, it has taken less than 2 months to double the account size by taking just small little bites from the market, during these 7 weeks the biggest win was not bigger than 8 points on full size, if we can do it, anyone can, as long as you have an edge and a good risk management system, rules profit, a trading system is nothing more than a set of rules that if used correctly will make a trader consistently profitable.

Persistence and  patience are really important in our business, those who have been trading long enough know that the market has different phases along the year, sometimes it's more generous allowing us to make huge profits while during other times we have to be more defensive, protecting our capital more than trying to make it grow, one of our jobs is to know when to trade more often, more aggressively or just stay sidelines and watch and be patient to wait until our setups get triggered and then managing risk effectively, key to successful trading.

We deal with uncertainty on a daily basis, we don't know whether a trade will be profitable or not when we take it, our STOP LOSS order is there to prove us wrong, if it is not hit we let the trade run and take profits at our targets, discipline is always a must.

See you at the 4th Stage.

Join us at: Diamond Setups -

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