(Some of this is early April's trading, but the lessons are the same. Also, click on my page to see how I got here from $100.)

 

- My $1000 account balance goal for the end of March ($2K/April) was TOO ambitious. 

I've reset it to $850 by end of April ($1,290/May  $1,930/June)

I still have my eye on $2k account balance level, but this is a more reasonable time expectation.

This will help me set better goals for each trade and stick to my trading plan. 

Some of these trades made more gains with a smaller than $100 position. If I make more than expected per trade, and meet my goal sooner - that's even better. 

 

- Steady 10% per trade is great for my account size and this volatile CV market.

For example, If I made just $15/day trading with only $150/trade, I'd make $75/wk and 50% of my $600 account size in a month.

The other reason I like the $150 level, is since I have a cash account, as long as I stick to the rules, I will always have at least $150 of settled buying power available every day to trade with.

If I make less than $15/day, or don't trade at all that's ok too. It's not about forcing trades. Trading consistently will always catch me up. 

 

- Even without dollar gains, I grow my account by continuing to learn price action. 

Knowing price action means knowing when to get in and out of a trade with gains, not regrets - regardless of position size. Everybody is wrong sometimes, but consistently successful traders are correct more than they're wrong. Whether now, tomorrow, or next week, knowing price action will pay big profit!

 

- Cut Losses Quickly!!! No Bagholding!!!

If I had cut the above losses to $10 each, I could add at least $114 to my current balance... that's almost 25% of my account balance. (If you could add 25% to YOUR account balance right now, how much more would you have...?)

 

That's it. Taking the rest of April to focus on finding one solid 10% play/day (or 3x3.5% plays). I'm going to trade my plan and go from there.

Congrats to everyone profiting big in this volatile market. So inspiring to hear all the success stories. Keep up the good work!

All the Micro/Small account traders, just trade the patterns consistently. You will profit.

"It's only Micro until you move the decimal point." ~Me

From Micro to Millionaire - Let's GO!!!!!!