My request for another IBFX live account have been approved today. Right now, I have with them 2 mini-accounts and 1 standard account.
Like my original plan posted last February 11
here, I plan to use the 2 mini-accounts simulteanously, soon.
Here's the update - some changes, and more detailed plans:
Account 1 - ConservativeBASE ACCOUNT - 75%
2-pair (EURUSD/USDCHF)
400:1 leverage
10% Margin
2%-5% (Trailing Stop at 1%)
Account 2 - AggressiveSMALL ACCOUNT - 25%
3- or 4- pairs
400:1 leverage
10% Margin
8% and up (Trailing Stop at 2%)
The plan is to open portfolios with a slim 10% margin to avoid the dreaded margin call. Then, if the market moves against our hedging, and went down to about 8%-10%, I will open another similar pairs with the same margin, and try to see if they can average out, and reach my profit target for the portfolio. Special thanks to the experience of "gr8collector" from PMT.
As it is, my monthly target stands at 10% from the beginning of the month, and to be compounded quarterly. Then probably, reset and cash out a little each quarter.
In the meantime, I will still use my mini-account, until it is sufficient enough, then I will use the other mini-account. In less than a year's time, if my mini-accounts will be "BIG" enough, that's the time I will use my standard account!
Wishful thinking? Hope not! With the help of
FreedomRocks Hedging Software, and 3 months of intensive personal demo trade experience, I am hopeful everything will go along smoothly as planned.
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