X-Original Project
April 29, 2007
April 20, 2007
Equity Curve
Last Posted - 10th May 2007
March 08, 2007
Project Overview
It's a simple goal really, with a starting balance of $10K (AUD) in my Oanda trading account I will trade my way up to $250K in the space of 1 year.
In the past my mistake with forex trading has been to always shoot for big wins, 100 pip moves etc. I've always lost money in FX trading, although to be honest it's always been as an aside to my main trading of shares.
I got this idea from Rob Booker (www.robbooker.com) who has a forex trading system called Strategy10. My idea is based on it but with quite a few differences. Each day I will look into the markets for the best opportunities, I'm not using any predefined system for entry triggers, but instead will try to sync in with the current flow of the market and utilise support & resistance zones on hourly charts. The goal is to get 10 pips each day. If this can be achieved money management and the magic of compounding will do the rest of the work.
Oanda has a maximum of 50:1 leverage and I will be using the full extent of that, this allows me 2 full sized positions to be open concurrently when each position is the correct size to make the pips equate to the required daily $$$$
This is how the equity curve should look. Approximately every 53 days the equity balance will double.
