"Double it Then Double it Again" - There are so many journals attempting to trade from xxx to 100 fold over night. I though implementing high leverage am not so ambitious. Currently in the process of setting up a new account with FinFx. The plan is vary simple deposit $100 trade it to 200 or 300 then withdraw the original $100 thus creating a free account. Not to mention I haven't been able to find much good or bad information regarding FinFx from US clients. Being able to withdraw is one of the more important aspects of trading lol obviously. Since the starting amount is so low the plan is to leverage $0.50 or $1 per pip in conjunction with short stop's and high probability trades to try and build the account as fast as possible while still being smart about it. If that even makes sense. If all goes well a year down the road this account is built to say $1,000+ I'll switch to a regulated US based broker since being from America it is safer that way.
Short and sweet version - High leverage to start with then a more conservative RR after building starting capital.
Basic layout of my trading
1. Determine 4H Trend, Market Structure
2. Find the next possible trade setup
3. Check 1H Fib and S/R
4. Determine a Potential Reversal Zone
5. 15M Chart for entry
All of this will be explained in more detail once the account is set up and linked to FF Trade Explorer. Should FinFx decline the account for whatever reason I'll trade with Oanda MT4 (Can't stand FxTrade) it'll just require a longer period of time to double without the use of 200:1 leverage.
Great song
http://www.youtube.com/watch?v=Kh9Zw0Nj50
Update: FinFx accepted my application so all we are waiting for is deposit to go through.
Short and sweet version - High leverage to start with then a more conservative RR after building starting capital.
Basic layout of my trading
1. Determine 4H Trend, Market Structure
2. Find the next possible trade setup
3. Check 1H Fib and S/R
4. Determine a Potential Reversal Zone
5. 15M Chart for entry
All of this will be explained in more detail once the account is set up and linked to FF Trade Explorer. Should FinFx decline the account for whatever reason I'll trade with Oanda MT4 (Can't stand FxTrade) it'll just require a longer period of time to double without the use of 200:1 leverage.
Great song
http://www.youtube.com/watch?v=Kh9Zw0Nj50
Update: FinFx accepted my application so all we are waiting for is deposit to go through.