January has come and gone for 2019. That was quick. I was able to get out of some entries and move money around to get in trades that have a much better ROI%. You’ll see this reflected in the charts below.
I am focusing more on the Lightning Trade Setup. Also, I am focusing on getting in on the Lightning Trade Setup when the price is a “free trade”. It also needs to be closer to a Fibonacci Extension level on the other side. This is how I can scale into Forex trades and even hold off if I need to free up margin.
As long as the rollover rate is positive I don’t mind being in for an extended period of time with several units.
January Forex Results Charts
Above you can see the monthly forex statement sent to me from Forex.com. I also included the results from myfxbook.com where I have my account linked to them to track my results.
Gameplan Moving Forward
Now that I have made over $1,000 in profits and increased my account by 50% I am going to start at getting in more with 0.02 lots. Currently almost all of the time I am using 0.01 lots.
When I get up to $4,000 then my entries will move up to 0.02 lots for every trade. I am at the point now where if the price is at an extremely good entry area then I will look at getting in with 0.02 lots. This will probably be for all entries at the 261% Fibonacci Extension level or greater using the Lightning Trade Setup. Definitely at the 423% Fibonacci Extension area and greater.
I just have to keep the margin percentage in mind and not get too overextended. So far as January has gone on I have done a very good job of doing this. Patience in getting in on Forex trades when there has been a big move is part of the success moving forward.
My goal is to strive to hit over a 5% return each month. I won’t try to force it because that is how I got myself in trouble the last go-around. But if I can get in with 0.02 lots at the 261% Fibonacci Extension level or greater then I will look to do so. This is the main way I feel my returns will increase even more and I can maybe hit the 10% monthly return level this year.
Last month was a bad month even though I ended up positive. In January I was able to get out of those trades and position myself for a very good February and beyond. It took around 9 months to get to $3,000 from $2,000. I’m going to try to get to $4,000 from $3,000 in 6 months. But whatever I do I won’t try to force it and get overextended by getting in too early.
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