...Or How to GROW your account
Now most traders don't need a lesson in blowing their accounts because this comes naturally
.
The purpose however behind trying to do this intentionally is to either blow the account or grow the account. I normally risk 2% of my account balance per trade but for the purpose of this journal I would quintuple that i.e. risk 10% instead. I also apply the principle of compounding balance to speed up my gains. I am presently testing my trading system on an FXDD Demo account and so far have been able to increase my equity from $5,000 to $6,205 in less than a month (+/- 25%) but this seems slow in achieving my target to finally trading for a living (if I choose to). My target to be able to comfortably trade for a living is $100,000 but first I will try to achieve this on demo. As a result of my increase in risk appetite the maximum drawdown I expect would therefore increase to between 70 - 80% which would almost blow the account hence the reason for the thread title. I hope to catch the market at a period of generosity for probability to be on my side. I expect to revert back to trading normally (and hopefully for a living) after having achieved the set out target of $100,000...on a live account.
This which I am about to do by the way is called 'gambling' since the safety element of risk and money management has been removed.
Feel free to join me in experiencing this exhilarating journey.
PS: I have tried uploading my trade explorer but it seems FF has issues displaying FXDD Demo accounts so I might be speaking to the Admin to offer a solution to this. Until then I will be posting a 15-min chart of my trades with a summary. I am not here to share my trading system but to see how far the rabbit hole goes in achieving this target.
Warning! This feat I am about to perform is highly dangerous and should not be tried on a live account except for the purpose of blowing the account...on purpose that is.
Now most traders don't need a lesson in blowing their accounts because this comes naturally
. The purpose however behind trying to do this intentionally is to either blow the account or grow the account. I normally risk 2% of my account balance per trade but for the purpose of this journal I would quintuple that i.e. risk 10% instead. I also apply the principle of compounding balance to speed up my gains. I am presently testing my trading system on an FXDD Demo account and so far have been able to increase my equity from $5,000 to $6,205 in less than a month (+/- 25%) but this seems slow in achieving my target to finally trading for a living (if I choose to). My target to be able to comfortably trade for a living is $100,000 but first I will try to achieve this on demo. As a result of my increase in risk appetite the maximum drawdown I expect would therefore increase to between 70 - 80% which would almost blow the account hence the reason for the thread title. I hope to catch the market at a period of generosity for probability to be on my side. I expect to revert back to trading normally (and hopefully for a living) after having achieved the set out target of $100,000...on a live account.
This which I am about to do by the way is called 'gambling' since the safety element of risk and money management has been removed.
Feel free to join me in experiencing this exhilarating journey.
PS: I have tried uploading my trade explorer but it seems FF has issues displaying FXDD Demo accounts so I might be speaking to the Admin to offer a solution to this. Until then I will be posting a 15-min chart of my trades with a summary. I am not here to share my trading system but to see how far the rabbit hole goes in achieving this target.
Warning! This feat I am about to perform is highly dangerous and should not be tried on a live account except for the purpose of blowing the account...on purpose that is.
Less is more...
.
