By Michael Storm
Here is a simple trading plan for pip growth that can double forex account in 7 weeks. I personally believe that this is conservative and doable for a lot of folks. But, if you think it is too aggressive, feel free to scale it back to something that makes you comfortable. I chose a small account starting size of just $10K and a small trade size. Just ONE mini lot. Each week we hit our profit target of pips we get to move up to the next level.
Starting with a 10K account and trading just one “mini Lot” our goal is to make:
50 pips on a Monday, and 50 on a Friday and 100 pips on a Tues- Thursday basis. This should equate to 400 pips or $400. Should we achieve this $400 “delta” we get to go to level 2
Account balance goes to $10,400
Let us say that on week 2 we make the same pips but its now $800 (because we have moved up to 2 minis)
Account balance goes to $11,200
Using this continuous pattern ALWAYS searching for just 400 pips in a whole wide week. Some weeks we may make much more, other weeks less but on AVERAGE 400 pips a week and increasing the size we should eventually get UP.
Week 3 3 “minis” Profits $1200 Account balance $12,400
Week 4 4 “minis” Profits $1600 Account balance $14,000
Week 5 5 “minis” Profits $2000 Account balance $16,000
Week 6 6 “minis” Profits $2400 Account balance $18,400
And so on………
Week 7 Profits $2800 Balance: $21,200
Week 8 Profits $3200 Balance: $24,400
Week 9 Profits $3600 Balance: $28,000
Week 10 Profits $4000 Balance $32,000
Week 11 Profits $4400 Balance $36,600
Week 12 Profits $4,800 Balance $41,400
Week 13 Profits $5,200 Balance $46,600
Week 14 Profits $5,600 Balance $52,200
Week 15 Profits $6,000 Balance $58,200
Week 16 Profits $6,400 Balance $64,600
Week 17 Profits $6,800 Balance $71,400
Week 18 Profits $7,200 Balance $78,600
Week 19 Profits $7,600 Balance $86,200
Week 20 Profits $8,000 Balance $94,200
Now, I will assume that there has been some “Plateau” effect. And that you had a few weeks scattered in here and there where you did NOT make it UP to the next level. Let’s throw in 6 weeks, OK? Let us say it took you 6 whole weeks and we can stop the Balance growing effect too. Let’s say you never quite make it to 400 pips and it took you 26 weeks to get this 94 grand. That is a half a year to go from 10K to almost 100K.
Let’s carry it even further and say that you’re just getting uncomfortable going above the 2 lots. Let us say that it took you 26 weeks to slowly move up a mini lot at a time and now your at 2 full lots and that is enough for you. Let’s say you decide to NEVER go above this level and you’re simply going to trade 2 lots forever. Weeks 26 through 50.…. We add in 24 more weeks and we CAP your earnings at $8k a week for the rest of the year.
24 weeks x $8,000 = $192K MORE. We add this to the $94,200 and come up with a total of $286,200.
Can you do this? Can you believe in this? Is it really hard to make 100 pips a day? And 50 on a slow day? If this is something you cannot believe in. CHOOSE a number you can believe in. CHOOSE a way to “Move up the ladder” according to YOUR rules.
Slow. Sure. Steady. Keep it going. Make a plan and stick to your trading plan.
Latest posts by admin (see all)
- Money Management in Forex: More Than Just Trading - February 17, 2018
- Identifying Trends through Synchronization - February 17, 2018
- Using Multiple Trendlines to Identify Better Trades - February 15, 2018
Winner’s Edge Trading, as seen on: