"Challenge update: 1st target achieved" and also: "50+ point weeks on ES"

After just 13 trading days from the beginning of our 8th Challenge from US$ 10,000 to US$ 20,000, we were able to achieve our first target of 20 points, or US$ 2,000.00 trading 2 lots of e-mins (ES), which is not small for an account of this size, but we do have strict money management rules that allow us to be that aggressive and we could make 20%+ in such a short period.

The most difficult stage for any trader is the beginning of a new trading journey, usually after having tried to succeed several times and failed, the trader is hesitant, the level of confidence in himself is really low, but he is determined to make anything it takes to become a successful trader.

Now he has a good trading system so all he has to do is take all good setups and follow the rules, those rules never allow him to take a big loss, small losses are OK, he knows that, but the big question is: Is he be able to follow the rules? Psychological part is really important in our business.

Our next target now is US$ 15,000, so we increase size to 3 lots now for another 20 point target.

There are many different ways to trade using our system, the Diamond Setups, you can be a swing player for instance, to give you an idea, those who traded the swing setups this week were able to make a hefty 50+ points! (Trading S&P 500 e-minis, ESM6) That's the outcome for those traders week in, week out, with a occasional loss, and the best part is that they only have to work 1 or 2 hours a day. So if you traded for instance 2 lots, you'd have made US$ 5,000+ this week.

The only caveat for this system is that the stop-loss orders are much wider then our usual 2 to 4 points, so when a trader begins trading this style he has to be prepared if the first trades fail and he loses 10+ points on each trade, he must not be afraid and end up skipping the next one, which is what most traders do. Now if he is luck and the first trades he takes are winners then he might never go into losing territory, and his account might go one way up, that's the most sought after scenario by any trader. Then in order to trade this type of setup with 2 lots your account would need to be at least of US$ 50,000, so that you could risk 2% on each trade.

On the other hand, not only big players using our system are able to enjoy those types of returns. If you hold a small account we have a scalping setup that on the last 9 weeks has been yielding an average of 10+ points a day.

For that to be possible you have to like being an active trader to be prepared to take from 3 to 8 trades a day and risk small on each trade, from 1 to 3 points, using what we call the "HT strategy", where the minimum target is 4 points, and if you like to trail your trades and only leave if stopped out, you can score really big like in the example below:

Trade taken by HTs on last Friday:

[May 13, 2016 12:05:48 PM EDT]    RenaTrader    2058-60 key now (Resistance)

Those who trailed: +18 points or so in a single trade.

To learn more about our trading system, click here: ==> Diamond Setups