By Michael Storm
Here is a simple trading plan for pip growth that can double forex account in 7 weeks. I personally believe that this is conservative and doable for a lot of folks. But, if you think it is too aggressive, feel free to scale it back to something that makes you comfortable. I chose a small account starting size of just $10K and a small trade size. Just ONE mini lot. Each week we hit our profit target of pips we get to move up to the next level. You can also read about Trader Profile Quiz.
Starting with a 10K account and trading just one “mini Lot” our goal is to make:
50 pips on a Monday, and 50 on a Friday and 100 pips on a Tues- Thursday basis. This should equate to 400 pips or $400. Should we achieve this $400 “delta” we get to go to level 2
Account balance goes to $10,400
Let us say that on week 2 we make the same pips but its now $800 (because we have moved up to 2 minis)
Account balance goes to $11,200
Using this continuous pattern ALWAYS searching for just 400 pips in a whole wide week. Some weeks we may make much more, other weeks less but on AVERAGE 400 pips a week and increasing the size we should eventually get UP.
Week 3 3 “minis” Profits $1200 Account balance $12,400
Week 4 4 “minis” Profits $1600 Account balance $14,000
Week 5 5 “minis” Profits $2000 Account balance $16,000
Week 6 6 “minis” Profits $2400 Account balance $18,400
And so on………
Week 7 Profits $2800 Balance: $21,200
Week 8 Profits $3200 Balance: $24,400
Week 9 Profits $3600 Balance: $28,000
Week 10 Profits $4000 Balance $32,000
Week 11 Profits $4400 Balance $36,600
Week 12 Profits $4,800 Balance $41,400
Week 13 Profits $5,200 Balance $46,600
Week 14 Profits $5,600 Balance $52,200
Week 15 Profits $6,000 Balance $58,200
Week 16 Profits $6,400 Balance $64,600
Week 17 Profits $6,800 Balance $71,400
Week 18 Profits $7,200 Balance $78,600
Week 19 Profits $7,600 Balance $86,200
Week 20 Profits $8,000 Balance $94,200
Now, I will assume that there has been some “Plateau” effect. And that you had a few weeks scattered in here and there where you did NOT make it UP to the next level. Let's throw in 6 weeks, OK? Let us say it took you 6 whole weeks and we can stop the Balance growing effect too. Let's say you never quite make it to 400 pips and it took you 26 weeks to get this 94 grand. That is a half a year to go from 10K to almost 100K.
Let's carry it even further and say that you're just getting uncomfortable going above the 2 lots. Let us say that it took you 26 weeks to slowly move up a mini lot at a time and now your at 2 full lots and that is enough for you. Let's say you decide to NEVER go above this level and you're simply going to trade 2 lots forever. Weeks 26 through 50.…. We add in 24 more weeks and we CAP your earnings at $8k a week for the rest of the year.
24 weeks x $8,000 = $192K MORE. We add this to the $94,200 and come up with a total of $286,200.
Can you do this? Can you believe in this? Is it really hard to make 100 pips a day? And 50 on a slow day? If this is something you cannot believe in. CHOOSE a number you can believe in. CHOOSE a way to “Move up the ladder” according to YOUR rules. Also read about Trader’s Tech and Installing MT4 EAs with Indicators.
Slow. Sure. Steady. Keep it going. Make a plan and stick to your trading plan.
Thank you for reading!
Please leave a comment below if you have any questions about Double Forex Account!
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400 pips weekly is a hard task for even the experienced forex traders. How many traders consistently make 20pips daily? not many. Write a more informed article
Hi Bruce. Most pairs have a daily range of over hundred pips in each day and many 15 min swing low to swing high moves are 30, 60 or more pips. In our live trade room we look for "pockets of movement" with a good probability of being hit. The greatest day of my life was 600 pips (few months back) and before that was 500 pips. I agree that is NOT often. But achieving 100 a day is only finding a lousy 10 pip move and finding 10 of those a day. Markets are FILLED. I mean CHOCK FULL of dozens upon dozens of 10 pip moves. This is really not that difficult to get if your a scalper. But HOW to do that, is beyond what I can put in just one article (I got 34 videos on my trading system). But to make it simple. Look for buy and sell setups on 1 or 5 min charts. That occur at price points that make sense on hourly or 15 min charts (your looking for stall and reversal points like 200 ma's or Fib levels drawn in on hourly or daily charts). It takes some work and a plan but it really can be done. Thanks for Posting and trade safely.
Gimme a safe 100 pip generating system besides the advice.
How is it that people like you just want the world handed to them? Here's a thought, how about YOU do some hard work. YOU work on a system that generates positive pips, and then you can implement this plan. Its all too easy to sit back and say give me this give me that. Always looking for the easy ride at someone elses expense. Get off your ass and do the work.