Posted by: joetradingplace | May 2, 2015

Challenge Account Update

I am a trend trader i don’t usually focus on the monthly results, i focus on the quarterly results, but i will update you on the challenge account. But in future it will be updated quartely. I have had some good trades, but not as good as when the market is trending well. I managed to keep cutting my losses and taking partial profits to take advantage of small trends. As a trader you have to be flexible and adapt to the market conditions…..if for example eurusd is in a 200 pip range…i can’t try to trade with profit targets of 400 pips…because i can see that it is struggling to even move 200 points….so be realistic with how you set your profit targets. I know that your target should be more than your SL so that yu win more than you lose, but if the market can’t give you that, don’t force, just stay out until the market condition is conducive for your trading style.

I took 11 trades this month, but they look like many because i take 6 micro lots, and on MT4 it looks like i took 66 trades. I might go through each trade and show you WHY i took the trades and how i managed it. I managed to bank 1884 pips on these 11 trades.

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