After a great week last week, I decided to increase my minimum stake from £2 to £3. As Murphy’s law dictates, we had a poor day yesterday and this was compounded by my increased stakes.
Here’s my results:
|15/09/2014||Spot FX AUD/USD||3||£10.50|
|15/09/2014||US Tech 100||10||£40.00|
|15/09/2014||US Tech 100||10||-£311.00|
|15/09/2014||Spot FX NZD/USD||-3||£4.20|
Day Total: -£495.40
Week Total: -£495.40
The biggest losses came from the US Tech trade that stopped out at the minimum £10 per pip, and we had two full losses on the Dax too.
We’ve had some questions about the size of trading bank required and Adam has answered below. Very sensible as you would expect.
“Having just read a comment on the blog about me having big losing weeks due to my average 150 points a week I want to clear it up. Yes I have losing weeks however they are very rare. I average 150 points a week however some weeks may only be 40 or 70 while others have been as high as 700. I tend to make claims and over deliver rather than claim hundreds and hundreds of points a week and then disappoint.
Also in terms of a minimum bank size, I personally recommend £10k but that is only because the US tech market requires £10/point minimum as you know. Sticking to my 3% rule you would need £10k. I know I can’t enforce people to start with a minimum amount however I want to make it clear that trading with anything less wouldn’t meet my personal risk management rules. “
Here’s Adam’s trades: