I will also reply to questions. Wish me luck!
All the best,
Joel
I wish you all the best in that endeavour, Joel. I know you want to use compounding to grow your capital base, ploughing back your profit into your trades without withdrawing them. However, my reservation is on the low capital and the 2% profit range you want to indulge on each trade. I believe the percentage is small and will not be the best strategy to grow at the rate you're projecting if you were to meet up the target of $80,000 for the year. Why not allow the profit run and then concentrate on your SL more.
Thank you! Yes, you have a point. There are many different ways to approach it. I have tried the method where I manage the trade actively and moving the stoploss and increasing the target profit. However, I feel like that style is a lot more emotial and time consuming for me.
Let me ask you, did you watch the video where I show the math behind my strategy? If I can have a win rate at 66%, I can actually reach the goal even with 2% trades.
All the best,
Joel