My account balance for the end of the week is: 1370.92. This is a gain from my large loss. The reason for such a small gain is I have temporarily cut my lot size down to 1 micro lot. This is until I can consistently show a gain. Every week I will increase my micro lots by one, as long as I am profitable for the week. If I encounter an unprofitable week I will lower my lot size by 1. I will continue the increase until I reach 1% of my account size. At this point I will trade until I have one full month that is profitable. Then I will continue raising my lot size until I reach 2% of my account risked on each trade. I have read in many books that good money management is the number one contributing factor to success in the forex market. Conversely the lack of money management is the number one cause of failure in this market.
Hwppy trading!
rgrace
