Successful Trading and Compounding - On Steroids

You raised ~$25K fairly quickly in 5 months. So is this $25K from working a job or from friends/family?

Why don't you just ask your sibling to trade for you? They just have to follow directions. If you indeed have an edge as you claim, then taking yourself out of the equation seems like the best way to eliminate the discipline problem. Try it for a month.

Perhaps, it is better to set a less aggressive goal. How about just finishing 2012 in the black would be more appropriate?

But welcome back, and good luck to you. It's okay to dream. We are all trying to hit it rich, I just opened a $20K FX account myself, and going to trade it aggressive as well. But this is a small gamble for me, as this will not be my main account.
 
Quote from PHOENIX TRADING:

Unless you have changed your approach I say you blowout again in 4 months.
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gmst, don't listen to the naysayers, but be careful not to prove Gordon Gekko's old adage "A fool and his money were lucky to get together in the first place".
 
Quote from JB3:

You raised ~$25K fairly quickly in 5 months. So is this $25K from working a job or from friends/family?

Why don't you just ask your sibling to trade for you? They just have to follow directions. If you indeed have an edge as you claim, then taking yourself out of the equation seems like the best way to eliminate the discipline problem. Try it for a month.

Perhaps, it is better to set a less aggressive goal. How about just finishing 2012 in the black would be more appropriate?

But welcome back, and good luck to you. It's okay to dream. We are all trying to hit it rich, I just opened a $20K FX account myself, and going to trade it aggressive as well. But this is a small gamble for me, as this will not be my main account.
More...

Thanks everyone for good wishes. I raised it from friends/family and job. There are no goals other than the focus on controlling the risk. Also, I guess with this much money, I am no more under-capitalized. On these 2 counts, it is an improvement over the last attempt.
 
Quote from gmst:

Thanks everyone for good wishes. I raised it from friends/family and job. There are no goals other than the focus on controlling the risk. Also, I guess with this much money, I am no more under-capitalized. On these 2 counts, it is an improvement over the last attempt.
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How have you changed your risk profile?
 
What a week! Lost half my account. It is clear that I have jumped with the larger account without tying all the losing ends. This week has set-me back by a long period. Positive thing is that I got hit in the face in the first week itself. This weekend - my sole focus is to tighten all the losing ends. I am also going to buy a new 18" or 20" monitor that will give me more space. Currently I have only one 14.1" laptop screen.

Many mistakes this week:
1) Missed one easy 10 point long ES trade on Monday since I was away from my desk. Affected my psyche for the rest of the week.

2) I entered way too soon before getting a proper signal. Would have made money instead of losing had I been more patient before entering long on ES on W,Th and Friday.

3) My plan calls for only RTH trading, but I traded post AAPL release and on another day also. So, I didn't follow my plan. I will rate this as my biggest mistake for this week.

4) I think 2nd biggest mistake was that on some trades, I used double the margin compared to what I should have used. This is because I didn't have my xl margin calculator opened.

My aim for the next 4 weeks is to just run the account with as much care as possible. My goal is to achieve 0 mistakes over the next 4 weeks. I will make many changes in my trading process/environment this weekend and do a follow up post sometime over the next 2 days. My account stands at 13k now. I will stop trading if the account reaches 4k, withdraw that capital and close the account. This will be my stop point.
 
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