monday onwards i have set up a long term planned goal for the next 200 trading days, the end target is just an inspiration and not an end by itself.
taking it step by step. like the hikers do in mountaineering,
, only priority is to reach base camp 1 for now.
trading will be just a part of life and not life itself. if day target achieved then use trailing stop loss and shut terminal in a sense for the day.
capital is 35000 and will go in with 10 mini lots on mis
day target will be 12 points after which will trail stop loss if there is a chance open to do so, or else book 12 points. i will not amend this target and let the mis auto expire if i trail stop loss.
day stop loss will be the same ie 12 points after which the terminal is shut down. ie, the risk /reward is 1:1. i am banking on the basis/assumption that my win/loss ratio will not dip below 70/30.
aim is to book 12 points per lot on an average per day which seems reasonable to me as per my past records.
i have set aside expense money for the next 6 months so i do not have any pressure to generate monthly income from day trading.
the next week i need 60 points net overall to achieve my target and reach base camp 1,
if i can reach 60 points by the end of the week it will be a first step taken towards the goal.
let me see if this can be reached,
1 Mon, Jul 1, 2019 1,050.00 36,050.00
2 Tue, Jul 2, 2019 1,081.50 37,131.50
3 Wed, Jul 3, 2019 1,113.94 38,245.44
4 Thu, Jul 4, 2019 1,147.36 39,392.80
5 Fri,, Jul 5, 2019 1,181.78 40,574.58
let us see and if anyone wants to join in it would be great going together. all you need is the confidence and proof of your own ability to make at least 12 points per day per lot. i will reveal the targets week by week so the overall picture does not get intimidating.
flag off is on monday so feel free to join in if you feel like trekking along the monkey,