Very Exciting Times

So starting this week I will start the 5k to 95k in 90 days challenge. The reason I am willing to start this challenge is because I feel confident in my trades, I trust them and I trust the way I trade them.

One of the main things I had to consider in starting this challenge is the risk level involved. Because this will be a high risk account, I am comfortable losing this money emotionally. What I mean by that is, if I have a few losing trades, I will not be revenge trading to make the money back. Reason why is going into this challenge I can stand to lose all this money. I am emotionally and more importantly prepared for that to happen. If I lost all $5k, it will not hurt me financially and I personally think that is key to trade this type of risk successfully.

I'll treat it like a demo ;)

So here are my rules that I will follow when it comes to trading the challenge:

1. Trade 1 standard lot first month, 3 the second and 5 the third month
2. Trade trades that have a 50 or less stop for at least the first 5 trades of the month
3. Never miss the first 2-2hr X's after a day cross
4. If I lose more than 40% of my account, I will change my risk back to a level I am comfortable with. Trade my account back to even, then continue with the challenge.
5. I will post a screen shot of my account to keep everyone up to date on my success or failures.

I hope everyone will be able to share in my success and learn something from it, good or bad. It will be fun.

USDJPY

Got stopped out of my UsdJpy entry from a week ago w 195 pips. O well, it happens.

I will next be looking for buys on the Eurusd in another hour and try to lock in profits. We have Day crossing up tonight and if i can get in and lock in now, when the day finally crossed up and we start having D2's, then i will be in it early.

Gbpusd, Gbpjpy, Usdjpy, and Eurusd

So I sold all of those pairs today and a few traders where able to trade it with me. I have purchased my "Dont Care" entry and plan on leaving it in for as long as possible. I will post some targets for them when I can find some good ones.

Stopped out, O Well.

Got stopped out of the Audusd and the Eurusd, with profit of course. The good part is we maybe able to get in the Eurusd again for the drop so we can break the 1.3794 area.

I will be looking at the Usdjpy for sells again starting tonight. Ill keep you posted.

In the AudUsd

We got an alarm to get in on the AudUsd for a sell with targets to 1.7227. Im in at 1.7936 w stops above 1.8006

EurUsd for this week

So I plan on trading the EurUsd for sells this coming week. Il will probably get in the Eur in the next couple hrs with a stop around 1.4037 with a target around 1.3794 then to 1.3394. So lets see what happens. Should be a fun drop.

Stopped out of JPY

Well, I got stopped out. Not to happy, but got stopped out w about 100 pips. My 96.00 area targets where hit. Came close to the 97 one's, maybe next time.

Stay posted cause I am going to Blog about what my plans are for the EurUsd next week. Should be some good moves I hope.

Study, study and study some more.