|
On the 5 K account - your looking to make about 20 USD a day, 400 USD a month.
Your max drawdown should be 300 USD a month.
Your max drawdown per day should be 30 USD.
Your position size should be 50,000 USD. (10-1 leverage)
On the 50 K account - your looking to make about 175 USD a day
3,200 a month.
Your max drawdown should be 2500 USD a month
Your max drawdown per day should be 600
Your position size should be 400,000 USD (8-1 leverage)
The account to focus on is the 50k account as it is enough to warrant your track record to be monitored and audited. That audit will allow you to post your % return with industry records allowing you to market your performance to receive additional funds to manage.
But if your returns are -13%, +21%, -15% -9% +30%.... the swings will be to much for institutional investors to want to be invovled in. Consistency is the key, and will be the biggest indicator for gaining more funds, not the return amounts, trust me on this.
Target 5-7% a month ..... dont let yourself fall below 4-5% a month losses......trading is about winning and losing, learning to trade is all about learning how to handle the losses. How to minimize the losses by recognizing that every trade isn't going to be a winner, so recognize the losing trades fast, and get out.
Don't overtrade!!!
Don't get overconfidenct after winning trades!
Don't lose confidence after losing trades!
Stay disciplined and approach your trading without emotion.
Stick to strict guidlines of money management. Gamblers should go to Casino's, traders don't try to double their money in a month.
|