Mindset is very important in trading. Consistent profit is not possible if you have a positive mindset. It is possible to succeed in this challenge by trading using Proper Money Management and Risk Management. I sincerely wish you success in this challenge.
I found it a great approach and seeing your determination I believe you will achieve it soon. It’s good to have your goals in trading clear. This will help you make better decisions and have your mindset clear about what you wish to do in trading and how far you want to go.
Using high leverage has never been my cup of tea. Whenever I tried using more than 10x, I lost a lot of money. I am not sure if it is my strategy that is not working for me or I am using leverage at the wrong time.
Great challenge actually. I believe that traders should set some challenges for themselves in order to reach results in trading activity. This sceme is suitable for those traders who can;t organize themselves on stable trading activity. I think that the more challenges traders set to themselves, the more chances they have to become successful. This competitional moment matters a lot. No doubts, that such scheme will suit every trader, because there are some traders who trade by their own without any challenges and also reach some results. Everything is pretty individual in this case I guess. Hence, it's up to you, whether you will be able to pass your challenge or not.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.