Unlike the analogy of someone sitting at a stop sign when there are no cars in sight in any direction, it isn't an issue of "doing what's right when no one's looking." It's not an issue of integrity, patriotism, etc. A better analogy is advertising. Well-designed Financial statements can be your biggest marketing tool to investors, and therefore can lead to expansion of your business. More so than the ideals of the company, the mission statement, etc., when the numbers look good, people want to buy in. If I'm selling something, the least knowledgeable person about that product is the worst off. Some people can watch infomercials and spot what products will fail after a week's use, and others fall victim to the new, shiny toys, and watch their investments depreciate to $0. Similarly, you have to be able to break down a company's finances with a few glances at their statements, knowing the tricks of the trade, what should be further analyzed, etc. Simply put, great book.
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Two trades, entered before the market openings on Monday. For GBPUSD, it was around 0400, for USDJPY it was around 1400. Actually, times are on the snap shot, so a little before that.
So this week's average was 5.5/2 = 2.75%. Obviously, this is a new demo account. I recently got a new phone, couldn't find the login info for the other demo account, and started over. Results will be the same though. At the end of the year, a starting balance will be chosen, say $10k, and each percentage week to week (52 total) will be applied to the balance consecutively. Matter of fact, let's start that now:
Week 1: 2.5%
Week 2: (1.2%) - Negative percentages in parentheses
Week 3: 2.75%
x^[1.025*(1-.012)*1.0275]= x^[1.025*.988*1.0275]= x^1.04
Therefore, so far I've made 4% profit on any starting investment. For $10k, that's $400 bucks profit. Still, I'm choosing my position sizes based on risking 2%/trade or less for my SL. The TP is set first, based on what kind of movement I'm deciding on. For example, "GPBUSD going up 20 pips." That's my TP. SP would be 20/(2 to 2.7) = 7.4 to 10 pips. Position size is then (.02)(100,000)/(74 to 100) = 20 to 27 lots. Wow, I've never had a position that large... As you can see in the snapshot, 14.50 is my highest so far. That's with closing before the TP is reached. Babies crawl until they're tired of being on their knees!
Week 2: (1.2%) - Negative percentages in parentheses
Week 3: 2.75%
x^[1.025*(1-.012)*1.0275]= x^[1.025*.988*1.0275]= x^1.04
Therefore, so far I've made 4% profit on any starting investment. For $10k, that's $400 bucks profit. Still, I'm choosing my position sizes based on risking 2%/trade or less for my SL. The TP is set first, based on what kind of movement I'm deciding on. For example, "GPBUSD going up 20 pips." That's my TP. SP would be 20/(2 to 2.7) = 7.4 to 10 pips. Position size is then (.02)(100,000)/(74 to 100) = 20 to 27 lots. Wow, I've never had a position that large... As you can see in the snapshot, 14.50 is my highest so far. That's with closing before the TP is reached. Babies crawl until they're tired of being on their knees!