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Looks like you have your frame-work which is essential. Only you will know (by testing) what are the strong and weak points of your system. The more you trade, the more you will know how to tweak it and take or not take the signals it creates. Or if you need different signals in different market conditions.
I have some further thoughts on the original topic.
There are 2 kind of manipulators: the concious and the unconcious. Those who manipulate others for their own goal (even if that's the enjoyment of control) and others who are doing it for no purpose.
The main difference is: the concious manipulator will put thoughts into your head (or at least will try to) by passing your concious mind by using a lot of methafores and unclear terms. While the unconcious manipulator will do the same thing (methafores, unclear terms) BUT they are subject of their own manipulation since they lack the conciousness of reality. This is how people actually fool THEMSELFS.
The trading is doing okay, it's the useless business with serious cash flow shortages which needs getting rid of, not willing to take money out of the account at this stage, cause it creates a must make it back reaction which generally goes badly!
it is said (and written in many books),
90% of traders loose money and eventually quit the activity
i would be interested to know what a consistently profitable trader can make (full time)
what is a good result ?
i see people mentioning 10% per annum as good
i am not happy with 10%, because it takes a lot of time, effort and energy to trade
so 10% on my capital is not enough, then i can go back to IT and make a product
10% on capital in IT doing product and licenses is not good, you can make much more
i am not looking for the very best results, but what is the low end result that the
5% of traders are able to generate ?
I've blown account, trading stupid due to a over spend from a good stock account years ago, don't want a repeat really.
Like to get to 20K then take 10K out and basically keep repeating, move the 10K to 15K, withdraw at 30K and so on and so forth.
Ofcourse, going to have to borrow into it if none of my clients pay me end of the month which is looking likely!
Normally I get to say, hey had that who cares, move on, can't even say I kissed it, holding hands doesn't cut it really, this bringing back memories of back when we where 8 at school holding hands but that's it with our girlfriends, yep it's that sad!!
Best not to think in percentages. yes a good trader trading a 2Mil $ account might only make 10%, but it's cause he's happy with $200K.
Someone with a 7K account ( me ), 10% = $700 okay part time so 500hours per year so $1.40 per hour, worthless to me.
I'm up approx 15% this month and barely traded, I could easily trade 4x's more, if not 10 ( I'm LAZY ).
My AVERAGE Loss, ( not my initial SL safety net ) is approx 1.5% on position 1 and 1.2% on position 2 ( If I take a 2), so all in 2.7%, which is acceptable. SL is about 4% with both positions.
Will I trade this level of risk with 20K, very close to, with 2Mil HELL NO!!!
So basically it all depends on YOU, if you can crack it consistently then ofcourse how good your method is.
How much money you make = win/loss ratio x risk/reward ratio x number of trades x risk per trade.
The first two depend on how good you trade or your system.
The third is a factor of your time-frame (and method).
Risk tolerance is a factor of your account size and maximal drawdown thereshold. Your drawdown probabilites are a factor of your win/loss ratio, risk/reward ratio AND consistency.
Basically the more consistent you are, the more money you can risk until you hit the mathematical cealing.
And as someone else said in an other forum: the 5% who are making money consistently are mostly professionals, with HUGE accounts, meaning the actual number of winning traders is much less
So with the attitude "just get by" it won't be engouh to beat the competition.
10% is not worth working for. You can have passive income with 10% yield.
What is worth for you can be compared to your value of time.
Let's assume you only risk as much for the week as you can earn (with a dayjob). If you double that amount, you had no leverage on your time. If you made more, you are saving time essentially for yourself. Be aware that you leverage your time too much (risk a lot more than you can make in the same amount of time) you put yourself to a lot of stress. This is why it is much better to trade other people's money.
edit: and if you have passive income which is (more than) enough to support your lifestyle; than money can't buy you.
