After a tumultuous trading week which saw me gain 80% at one point in time, and losing up to 30% in another, I (luckily) ended the week in the green. A series of ill-timed and ill-decision trades took a dampener on my profits.
And so I decided to do something about it.
I set up totally new accounts for trading, now that my IFX and Alpari accounts are up. They will revolve on 2 different risk profiles, one aggressive account in USD and a conservative account in SGD. To fund the US account, I will withdraw my Oanda account balance next month.
And so next week begins with:
Aggressive USD – USD3750
Conservative SGD – SGD3418.21
It was quite a bad week for forex on Week 4, with my SGD account up 13% (only) and my USD account yoyo-ing up and down but eventually heading into the week in the red. However, there are still floating positions which are currently heavily in the black.
Aggressive USD – USD5136.07
Conservative SGD – SGD6260.02
Aggressive USD – USD4802.66
Conservative SGD – SGD7068.22
Total account equity stands at SGD11558.07. An amazing figure when all of it is profits from my initial risk capital of 3.5k a month back.
Here’s my money management plan going forward.
Conservative SGD position size is 15x account equity, with a view to reduce it to 10x when it hits $15k
Aggressive USD position size is 30x account equity, with a view to reducing it to 20x when it hits 12k