Hi guys
I was trawling through YouTube and came across this video. Firstly I like this guy and I will post a few of his videos which I believe will help us in our journey.
The idea is simply to build a small account into a very large account by increasing (compounding) it by 2% - 5% a day. I used 3% in the title simply because it's the average!
I know we've had threads like this before and people have failed/blown the account. But you know what? I think the reason for failure comes down to one thing - THE MENTAL APPROACH. I mean what is 2% of 100 bucks? Only $2 and probably 90% of us can grow our account by 2% a day. So what is the problem? Well to sum it up in one word, it's GREED. Yep, trying to go for too much using way too excessive leverage, doubling up on losing trades, not having a stop loss and not closing a losing trade as quickly as possible!
But the secret is: Once you've made your target - if you're starting with $100 and you make your 3%, your $3 profit, STOP TRADING, STOP TRADING, STOP TRADING. Just to be sure you're listening, STOP TRADING!!
I have already funded a $100 account for this project and I will put up a TE but not a public one. I will post my results daily. If you join the club and want to do the same, by all means do so.
You are welcome to join the club. ONLY MEMBERS WILL BE ALLOWED TO POST
TROLLS, NAYSAYERS, LOSERS, etc., ARE NOT WELCOME TO POST AND YOUR POSTS WILL BE REMOVED.
I was trawling through YouTube and came across this video. Firstly I like this guy and I will post a few of his videos which I believe will help us in our journey.
The idea is simply to build a small account into a very large account by increasing (compounding) it by 2% - 5% a day. I used 3% in the title simply because it's the average!
I know we've had threads like this before and people have failed/blown the account. But you know what? I think the reason for failure comes down to one thing - THE MENTAL APPROACH. I mean what is 2% of 100 bucks? Only $2 and probably 90% of us can grow our account by 2% a day. So what is the problem? Well to sum it up in one word, it's GREED. Yep, trying to go for too much using way too excessive leverage, doubling up on losing trades, not having a stop loss and not closing a losing trade as quickly as possible!
But the secret is: Once you've made your target - if you're starting with $100 and you make your 3%, your $3 profit, STOP TRADING, STOP TRADING, STOP TRADING. Just to be sure you're listening, STOP TRADING!!
I have already funded a $100 account for this project and I will put up a TE but not a public one. I will post my results daily. If you join the club and want to do the same, by all means do so.
You are welcome to join the club. ONLY MEMBERS WILL BE ALLOWED TO POST
TROLLS, NAYSAYERS, LOSERS, etc., ARE NOT WELCOME TO POST AND YOUR POSTS WILL BE REMOVED.
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