How Much We Need To Make A Living From Trading? pt1

Many people say a monthly 2000$ should be enough to make a change in your life. In many countries this kind of money could really improve your life on a monthly basis. I agree with that, but of course, more is better.

But what amount of capital do you need to be able to squeeze out 2K on average? The answer is relative and depends on your trading strategy too. 

Let's say for example that you trade only two assets as a day trader, and you only take one trade per session (London/New York). That gives us a maximum of 4 trades in one day. Or if you only trade the New York session, with two assets that give two trades per day. It's really up to you how much risk you can take.

If we take only two trades per day, and we are aiming for an average of 100$ per day with a minimum 1 to 1.5 Risk to Reward ratio, then it's safe to say we should or could risk around 100$ per trade, but we need to have a trading plan with minimum 55-60% win rate.

I always say never risk more than 2% per trade from your account (better to go with max 1%). Ideally, I always go with around 0.5%. This gives us a rough minimum of 5000$ trading capital. Better to go with 10K to 15K.

To Be Continued...

Starting Over From Scratch

I think it's no surprise that this is going to be my first post since I updated my website. But I had my reasons to start over. I wanted to start over from scratch because I struggled for the past few years. In trading, I had my ups and down periods but not really getting from point A to B.

So what I wanted to start is a new journey even if I have to start from the basics and one of the first steps for me to take is to leave all indicators behind which I used in trading, and only focus on the charts from now on and only pure price action. I don't want to sell anything, I don't want to be a fake guru, I just want to journal my steps (even if I fail sometimes) by moving forward.

I decided that I'm going to start with the ICT mentorship because this year that's the one that has the most influence over traders on the internet and I'm not going to lie: I'm very much intrigued by the results of what ICT is making in his Twitter posts so why not.