Next 20 trades without exception challenge
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Thread: Next 20 trades without exception challenge

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    Next 20 trades without exception challenge

    Have come to see that for me or any trader for that matter, to make it in forex, that I must stop looking at the market on trade by trade basis, but i must now look at a sample of trades instead. The reason being that there is no way to know which of the trade will do well or not. But if I trade in samples, then i will then judge the trades in the sample by how many percent were profitable and how many percent was loss. I'm doing this with a strategy that should give me about sixty to eighty percent win rate.

    So, join me.

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    This is beautiful, I hope that you will have discipline to keep to this challenge, because what most traders do is to use a big lot size that is not sustainable in the long term, I hope everyone in this forum will be able to learn a thing or two from this journal, we hope to see charts posted for your illustrations and journey.

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    Quote Originally Posted by adewale View Post
    This is beautiful, I hope that you will have discipline to keep to this challenge, because what most traders do is to use a big lot size that is not sustainable in the long term, I hope everyone in this forum will be able to learn a thing or two from this journal, we hope to see charts posted for your illustrations and journey.
    I do not buy the idea of using big lot to trade anymore, i did it many times before, but it failed me, and i realized that the best in the market is for traders to be consistent in the profits getting, not that they will need to be trading heavily with not protection or proper money management in place, they will only try, but fails always.

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    we take the challenge in each trade we make and so we may win or lose, the trader that test a strategy should practice on it for enough to see the percentage of success of it and so the trader that finds it gives a high percentage of success then he can trade with it and make profit, but if it does not give good results then the trader should look for another one.

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    Quote Originally Posted by cozard007 View Post
    I do not buy the idea of using big lot to trade anymore, i did it many times before, but it failed me, and i realized that the best in the market is for traders to be consistent in the profits getting, not that they will need to be trading heavily with not protection or proper money management in place, they will only try, but fails always.
    Not just you, using little lot and the trading result will good. based on the experience, trading using more lot is a big and serious money management problem. When trader decide to understand the money managment, trader will more effective on using small lot, small lot is the key to achieve more trading profit. Your account will grow when consistent use the small lot in forex trading.

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    Quote Originally Posted by adewale View Post
    This is beautiful, I hope that you will have discipline to keep to this challenge, because what most traders do is to use a big lot size that is not sustainable in the long term, I hope everyone in this forum will be able to learn a thing or two from this journal, we hope to see charts posted for your illustrations and journey.
    My friend, that is the plan. I am determine to to only risk about two percent of my trading account on any single trades. I do not believe that it is a wise thing to risk too much on a single trade as one can never tell which of the trades will be a loses and which of them will be a winner. Risking two percent of my account on a trades by trade bases will make me to take up to fifty trades before my account can take no no more.

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    Quote Originally Posted by cozard007 View Post
    I do not buy the idea of using big lot to trade anymore, i did it many times before, but it failed me, and i realized that the best in the market is for traders to be consistent in the profits getting, not that they will need to be trading heavily with not protection or proper money management in place, they will only try, but fails always.
    The fun part of using a big lot is that at the initial stage, it will look very exciting because you will make money, but when it is time for the market to collect back everything from you, it will not even spare you a bit, I have learned that slow but consistent earning is the sure path and guarantee of long term success.

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    Quote Originally Posted by cozard007 View Post
    I do not buy the idea of using big lot to trade anymore, i did it many times before, but it failed me, and i realized that the best in the market is for traders to be consistent in the profits getting, not that they will need to be trading heavily with not protection or proper money management in place, they will only try, but fails always.
    using big lot is just too risky for a trading account, most account don't survive big lot size, market may first go against the trader before it start to favour the trader so a trader using big lot will likely get stopped out before the market price start moves to his or her favour, getting success in forex need a good strategy that works well and a money management plan that best suit the strategy

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    Always have realistic DREAMS!

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    Quote Originally Posted by ahmad alfaraj View Post
    [lang=ar]A great and detailed explanation provided us with everything we want
    This is beautiful, I hope that you will have discipline to keep to this challenge, because what most traders do is to use a big lot size that is not sustainable in the long term, I hope everyone in this forum will be able to learn a thing or two from this journal, we hope to see charts posted for your illustrations and journey.[/lang]
    Thank you for your comment mate. As to whether or not i will have the discipline to continue this exercise; well i believe that i would. The plan is to keep taking trades until i have taken about twenty of them and then i will then evaluate what the out of my trades would be in terms of percentage. The only way to achieved this is by making sure that my lot size for each trade is very small, say about two percent per trade.

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    [lang=ar]good thinking friend , actually i hope to start to think like you , i analyzed my results many times and every time i found that my winning rate is very high , but my problem is the sizing and raising the risk in the trades i enter (depending on a single trade ) instead of depending on sample of trades which makes go to the margin call , so i think i will start to do like you, and judge my performance after 5 or 10 trades as this will give me less pressure .[/lang]

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