I am aiming at this and somewhat higher at my account. I have no $1 mil and hopefully I will be able to start building my own account up starting March 2011 by adding monthly $ and trading it up. when I can make 5-6% consistently with 1% risk per trade I will be looking for investors as well. It doe snot matter what size of account until it is a really big one. The most important is consistency and risk control.
I think people here should not forget that I am only 2 years and a couple of months in this business at all. I am still learning and improving. same time last year I was struggling to make 1-2% monthly and 2% DD was a horrible thing to me. Now I had up to 7% months, vast majority of my months are profitable and October would have been 10-12% month had I closed my winning positions in full instead of closing half and moving stop to BE. I have tendency to sabotage my results like it happened in November. What I need to do is to reduce mistakes and also reduce DD in losing months plus improving overall performance.
I see, you're talking about the technical side. I meant the mental side - there may be a difference between a cents account and a bigger one. You may meet people who pay more for their car insurance than your entire trading capital. And you may meet ones who spend less on food than your average losing position.
I see, no , no problem on mental side. I know that what matters is %. As long as I follow proper risk control/ money management I will be fine. I trade money I cannot afford to lose for now. Hopefully I will start adding money monthly to my account starting march. knock the wood. I would really love to trade bigger amount of my own money.
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