It's been slowly & steadily profitable since february this year - so make that 7 months - seems to be working right? Recently I started using alerts, all it tells me is when trades complete, and I set new trades back up right away - keeping the money more active. With the alerts my earnings shot up quite a lot.... and I calculated it out just today -- that I am now making (on average) 5% profit daily on my total account lately.
I always trade the exact same way - never changing my method one micron.
Initially I feel very happy, but I wonder if this 5% is really just a sign of bad risk management -- that its gonna bite me later. I know even experienced traders aim for 1% a day and feel lucky to get that.
Or maybe I should just expect over a year some sad times that will pull me down to a more reasonable 1% gain or less?
I am nowhere near margin btw... not ever.... and i even worked out that even if i had all trades just above stop loss for some reason i would still not get margin call. i do many small trades, trading near every currency right across the board, over 100 open trades at any given time, 24/7, grid trading i think that is called?
I have tight stop losses, and even tighter profit take, and I take profit almost every time....
But I wonder, I am relatively new still, is there something I could be missing here?
Thought I would ask the experts before I get too excited about my apparent success.
