Hey guys,

I was wondering if there's a money management strategy to follow.

Im opening another "experiment" account with another broker starting only with $400 USD.

my question is... how can I make consistently $200 per day starting with $400?

if there's like a method for that? let's say do 3 trades a day of $100 ? wich equals about $200 daily?

I would like to hear from you guys !

thanks,

Francisco78
newbie BO trader

If you making $200 a day with a $400 account...you have not money management strategy. Sure you could make those $100 trades but you better get them all ITM or your account will be $0...fast.

My advice, if you're in a hurry to make money with this that fast, you should go ahead a stop now, because it ain't going to happen.

According to Dave's MM strategy to make $200 a day, you'll need about 10x the amount of capital you're talking about.

francisco,

If you make 3 trades of $100 and you win 2, and lose 1 for 67% ITM, you would make $50/day if the payout is 75%.

(2 wins at $75- one loss at $100= $150-$100=$50.

So, using $100 trades, you would need to make 12 trades at this rate to make $200 (8 wins x $75=600-[4 losses x $100=$400]=$200).

If you wanted to use your premise of 3 trades a day, you would have to be prepared to send another $400 to your account because you need to trade $400

each trade. If you lost the first trade your account is wiped, send in $400 more and win the next 2 for 67% ITM and you make your $200 ($400x75% payout =$300x

2 trades =$600- $400 loss of first trade =$200.

Of course, if you're good enough or lucky enough to win your first 2 trades, you would have $400x75% =$300 x 2trades= $600 profit. You should stop at this point because

now you have $1000 to trade with tomorrow(if you traded again and lost, you'd have $1000-$400=$600, which is $200 profit for the day).

If you were wise enough to stop when you won your first two trades, thne starting with $1000 the next day, theoretically winning 2 out of 3 ITM, you could make $200/day

in perpetuity, withdraw $1000/week, and never have to send anymore to your account........theoreticallty.

To be on the safe side, don't withdraw for the first 3 weeks, thus having enough to have a couple of days of 0 ITM, AND STILL MAKE $200/day, if you maintain

your 67% ITM for the week. Suggest you practice first to verify you can make 67% consistently. If you got at least $2000(5 tries at funding with $400

to try to win your first 2 trades), then this method will work for you. If you really only have $400 to risk, why not start with $50 per trade which would yield $25/day

using 3 trades at 67% ITM. After 4 weeks you would have $1000 profit and an idea if you can consistently make 67% ITM and graduate to $200/day.

Quote from skycap18 on May 19, 2012, 12:13

francisco,

If you make 3 trades of $100 and you win 2, and lose 1 for 67% ITM, you would make $50/day if the payout is 75%.

(2 wins at $75- one loss at $100= $150-$100=$50.

So, using $100 trades, you would need to make 12 trades at this rate to make $200 (8 wins x $75=600-[4 losses x $100=$400]=$200).

If you wanted to use your premise of 3 trades a day, you would have to be prepared to send another $400 to your account because you need to trade $400

each trade. If you lost the first trade your account is wiped, send in $400 more and win the next 2 for 67% ITM and you make your $200 ($400x75% payout =$300x

2 trades =$600- $400 loss of first trade =$200.

Of course, if you're good enough or lucky enough to win your first 2 trades, you would have $400x75% =$300 x 2trades= $600 profit. You should stop at this point because

now you have $1000 to trade with tomorrow(if you traded again and lost, you'd have $1000-$400=$600, which is $200 profit for the day).

If you were wise enough to stop when you won your first two trades, thne starting with $1000 the next day, theoretically winning 2 out of 3 ITM, you could make $200/day

in perpetuity, withdraw $1000/week, and never have to send anymore to your account........theoreticallty.

To be on the safe side, don't withdraw for the first 3 weeks, thus having enough to have a couple of days of 0 ITM, AND STILL MAKE $200/day, if you maintain

your 67% ITM for the week. Suggest you practice first to verify you can make 67% consistently. If you got at least $2000(5 tries at funding with $400

to try to win your first 2 trades), then this method will work for you. If you really only have $400 to risk, why not start with $50 per trade which would yield $25/day

using 3 trades at 67% ITM. After 4 weeks you would have $1000 profit and an idea if you can consistently make 67% ITM and graduate to $200/day.

Thank you Skycap18 !!! I ll follow the strategy!!! thanks again!!!!!!! god bless your trading!!

Best part, the name "Keith Jones" is the account name. Same crazy guy who tells you to follow the trader insight.