100% in a week - will see

[DIW]

Hello everybody

Was reading this wonderful forum for several years.
This is my first attempt to contribute

I have "some experience" on forex.
Will try to double my money on forex for this week, April 24-30 2005.
My strategy for this week is "aggressive intraday-swing" with small initial capital, but proper money management according to advices I'd found on this forum.

Will post my trades with targets and stops in real time.
Please post your remarks on this thread.

Well, and you may bet on me. Just started a poll for you

And of course you may follows my recommendations on your own risk.

[DIW]

Thanks for voting. poll results are encouraging for me. however it will be a tough week - not so much fundamental events to move the market.

Cheers

[marc_t]

good luck DIW!!

[DIW]

Here are my money parameters:
initial capital $500
weekly target 100% profit means $500 for the first week.
average daily profit target 20% = $100 (suppose I do not have losing days )

trading small lots $10,000 , multiple open positions in different currencies are allowed.
pip value approx. $1
it comes to average daily profit = 100 pips - too much for quiet market (look my previous post).
therefore I should probably trade at least twice per day targetting 50 pips.

Money management:
not very extremely agressive, stop loss at 5% per open trade = $25,
= 25 pips average.
Sounds good

[DIW]

Thanks marc_t

Now, directions to trade - technicals:
EUR/USD sell from highs (mind important IFO figures today)
GBP/USD looks ranged for me
USD/JPY near support
USD/CHF is a buy
USD/CAD is a buy
AUD/USD is a sell
EUR/JPY looks overssold

[majed]

I have voted 20-80%;
I think its excelant if you can achive your target
I am wating for results
regards

[majed]

hi DIW;
what levarage you are using?
regards

[DIW]

I use max leverage 1:100, so for $500 combined open positions max is $50,000 means up to five currency paairs may be open at the same time.
trading $10,000 mini lots, so actual leverage is 1:20

intraday technicals are:

EUR/USD is a buy
USD/JPY is a sell
GBP/USD is a buy
USD/CHF is a sell
USD/CAD is a sell
AUD/USD have holiday today
EUR/JPY strong buy

it means they contradict longer term (daily) ssignals - look my previous post.

Therefore looking for 50 pips better stay out of the market for early European opening. Good entry for Euro short will be near 1.3050