justgbp trader's profile

6 years of Forex trading and learn that a winner must focus on risk management and enjoy losing trades which I must work on consistently.

My goal is to produce 10% monthly compound return (which is achievable) consistently to turn a $10,000 live account to $100,000 in 2 years. To do so, I must limit my loss to 2% or less per trade by placing 15 to 20 pips Stop Loss on every single position trading 10 to 1 leverage( I take 0.1 lot for $1,000 equity in my account). I also set my profit target between 46 and 70 pips per position. I close my trade before hitting my SL or TP if I see the market condition changes.

I do daytrading and use 15 to 20 pip SLs for 46 to 70 pip TPs. I am able to find the entry point that the market is just about to move, either with me or against me, so my average holding time for my postions are less than 30 minutes.

I consider I have great trading skills. However, I need to match up my mental skills with my trading skills, which is what I always work for constantly improvement. I can only be a profitable trader with great mental skills or my trading skills are worth nothing.