It's been 3 weeks since my first Forex trade example was posted. Let's tabulate the results of trading for the month of April. Having an initial capital of $100,000 and by using a leverage of 50 times, with each trade not risking more than 30% of maximum tradeable units, the account balance has grown by 9.32% to $109,323.39. Total active trading time was about 3 weeks, from 9 Apr to 30 Apr.
This is achieved by using one main strategy of trading with the trend, getting into position at the end of a pullback, and taking profit quickly. Of course there have been many instances that the trades were not so straight forward, having to bring in other factors like medium to long term trends and false breaks. Sometimes quick profit taking might result in losing out on higher profits, but this strategy is all about minimizing risk and preserving capital to achieve constant profits in the long run. At times, cutting loss is also essential to preserve capital when a position is taken wrongly or when the market goes against you for some reason. Get out, re-assess and get in again at the correct time.
Trade account balance for the month of April 14
I will be continuing to trade with this account and strategy to further prove its worthiness. Thank you for reading and following. If you have any comments or queries, feel free to leave a comment below. All questions will be answered. Please share this site if you think it is useful. Thank you.
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