Looking for a long position on gold found good entry with great R:R
Comment:
LETS GOOOOOOO FIRST W OF 2023!
Comment:
Gold
January 0 - 0 + 0 pips
- N/A
February 1 - 0
- Xauusd: W + 3,480.00 pips and counting, +17.5% (Risk $10 to make $175)
Growth: 3% - 17.5% Depending on how much of the move you caught
$1,000.00 -> $ $1,175.00 (+17.5%)
If this trade lost...
$1,000.00 -> $990.00 (-1.0%)
$10,000.00 -> $11,750.00 (+17.5%)
If it lost...
$10,000.00 -> $9,900 (-1.0%)
$100,000.00 -> $117,500.00 (+17.5%)
Loss...
$100,000.00 -> $99,000.00 (-1%)
So if you risked 5% on the trade
$100,000.00 -> $187,500.00 (+87.5%)
Loss...
$100,000.00 -> $95,000 (-5.0%)
Imagine making $87,500.00 while risking $5,000.00 this is highly unlikely and risky $5,000.00 risk is a lot for a $100,000.00 account. In this rare case though if you were to have taken this trade and risked the $5,000.00 and let the trade ride to the high it just made you would have been successful.
Anyway moving forward...
Risking $1,000.00 to make $17,500.00 should really open your eyes and help expand your mind to the extent of what's truly possible, If you master the art of trading you will never work a day in your life. Trading work is a hard skill to learn it better be hard to learn if you can make money whenever and wherever you want.
You're not always going to catch the whole move gather a plan and take profits and risks according to the plan You just need to stay consistent and stop overtrading and overleveraging. The difference between a successful trader and a gambler is creating a plan and being disciplined enough to stick to it.
On any given trade your goal should be 3-6% if you hit that is fire, and anything more is icing on the cake.
1:3 33% accuracy to break even win 1 out of every 3 trades
1:4 25% win 1 out of 4 trades to Break Even
1:5 20% win 1 out of 5 trades to Break Even
1:6 15% win 1 out of 6 trades to Break Even
you could lose 5 straight trades and hit a 1:6 and end the week profitable
Start Balance $1,000.00
S: L - 1.00% $990.00
M: L -1.00% $980.00
T: L - 1.00% $970.00
W: L -1.00% $960.00
R: L - 1.00% $950.00
F: W +6.0% $1,010.00
S:N/A
OVR: +1.00% +$10.00
We won 1 out of 6 so we traded at 16% and ended profitable by 1.00%
That's the beauty of Risk: Reward
Grow your account with me $1,000 ->$1,175.00 today with two more days left in the first week
2023 is off to a good start grow with me and follow @Mr.Newmoney on youtube
January 0 - 0 + 0 pips
- N/A
February 1 - 0
- Xauusd: W + 3,480.00 pips and counting, +17.5% (Risk $10 to make $175)
Growth: 3% - 17.5% Depending on how much of the move you caught
$1,000.00 -> $ $1,175.00 (+17.5%)
If this trade lost...
$1,000.00 -> $990.00 (-1.0%)
$10,000.00 -> $11,750.00 (+17.5%)
If it lost...
$10,000.00 -> $9,900 (-1.0%)
$100,000.00 -> $117,500.00 (+17.5%)
Loss...
$100,000.00 -> $99,000.00 (-1%)
So if you risked 5% on the trade
$100,000.00 -> $187,500.00 (+87.5%)
Loss...
$100,000.00 -> $95,000 (-5.0%)
Imagine making $87,500.00 while risking $5,000.00 this is highly unlikely and risky $5,000.00 risk is a lot for a $100,000.00 account. In this rare case though if you were to have taken this trade and risked the $5,000.00 and let the trade ride to the high it just made you would have been successful.
Anyway moving forward...
Risking $1,000.00 to make $17,500.00 should really open your eyes and help expand your mind to the extent of what's truly possible, If you master the art of trading you will never work a day in your life. Trading work is a hard skill to learn it better be hard to learn if you can make money whenever and wherever you want.
You're not always going to catch the whole move gather a plan and take profits and risks according to the plan You just need to stay consistent and stop overtrading and overleveraging. The difference between a successful trader and a gambler is creating a plan and being disciplined enough to stick to it.
On any given trade your goal should be 3-6% if you hit that is fire, and anything more is icing on the cake.
1:3 33% accuracy to break even win 1 out of every 3 trades
1:4 25% win 1 out of 4 trades to Break Even
1:5 20% win 1 out of 5 trades to Break Even
1:6 15% win 1 out of 6 trades to Break Even
you could lose 5 straight trades and hit a 1:6 and end the week profitable
Start Balance $1,000.00
S: L - 1.00% $990.00
M: L -1.00% $980.00
T: L - 1.00% $970.00
W: L -1.00% $960.00
R: L - 1.00% $950.00
F: W +6.0% $1,010.00
S:N/A
OVR: +1.00% +$10.00
We won 1 out of 6 so we traded at 16% and ended profitable by 1.00%
That's the beauty of Risk: Reward
Grow your account with me $1,000 ->$1,175.00 today with two more days left in the first week
2023 is off to a good start grow with me and follow @Mr.Newmoney on youtube