Since we have entered in a new Contest Month I've decided to set new goals for the current month as last time I've managed to destroy my account from the first day. I found out that when I'm trading with the demo account I tend to take unnecessary risk and I enter some trades that I should have never look at them. From now on I want to exercise strong discipline and only take strong setups with a risk to reward ratio at least 1:2. I'm sure that I can find at least 10 trading opportunities for the current month.

I'll be looking for setups that can give me at least 100 pips/ position. If I'll manage to achieve my goals by the end of the month I should have a net profit of 1000 pips,and if we take in consideration that I'll be trading full size position ($5Mill/position) this should translate into $500k profits and my equity balance should be $600k. This is just a rigid example as I know that your pip value will be different than $500/pip movement on non USD pairs.

Bear in mind that my management risk strategy is very aggressively and can lead to higher drawdown but if I manage to time the market "to the pip" any huge DD can be eliminated. This is just a demo competition so in order to win a prize, most often you should play it differently than you real money account. I really enjoy all the excitment from the competition and the fun.

Wish everyone good luck!

Best Regards,
Daytrader21.
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