I have finally broken through the 60% mark to hit 100% gains. Perfect trade set up and execution when AUD/USD hit S2, and I went long for 25 pips with a SL of 15 pips. Now on 52k from 26k. Let's keep this going!
Interestingly, I met a fellow CFD trader yesterday. He said he'd been doing it successfully for years! Ultimately he uses the basic strategy rules, but one thing I grabbed off him was his RR of 1.6. Perhaps that's indeed the magic number and that's what I used for my last trade. I've always found that the common RR of 2 or 3 is always quite difficult to hit. So maybe this is indeed the magic number?
The basic strategy he had was - Follow rules emotionlessly - so he only does orders and never live trading; max drawdown of 5% (I use 20% thereabouts currently to see if I can achieve more massive gains); using last known supports and resistances as SL (I didn't ask what timeframe though); and trading in US and HK stocks; don't use CFDs as a main source of income (something I differ in, and that's why my max drawdown is so high, haha...); and he's using CIMB as his platform. He said returns can probably hit 100% annually, so I'm taking that as an indication to keep pushing this envelope - and to fall back on a safer strategy of a lower percentage max drawdown, if my attempts to breakthrough that don't work.
My next goal is to hit 400% returns. Let's see if I can get there. Trade safe.
Yours
X
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