“FXtreme 10”, how to make $10,000 from $1,000 starting capital, strategy and plan
Let’s start this post like this. FXtreme 10 is not a holy grail and this strategy and plan is probably the easiest part of this mission, but for sure is something on which you can lean on. It’s working and it can give you a fantastic result if you have enough discipline. I was working for couple of years on my FXtreme strategies, tested almost the impossible ones during it and I can tell that this strategy works. Sure, it’s tough to acomplish this mission until the end, but I will try to lead you step by step in my article how to reach the target. I spend huge money and time on my FXtreme strategies, but I will give it here in my blog for FREE. If I can help you to achive this goal, it’s my success as well. So, let’s begin.
I will start this with risk, but I must say that the risk is not the most important in this mission, because making a 1000% doesn’t mean that you have to take 50 or 70% risk in you trades. If you think too much about losing money, you will be in problems from the start and that’s why you should begin this like there is no risk at all. I deliberately didn’t indicate the level of risk that you should take in each stage, because each trader will set it up and determine for itself, but, I can tell that there is no need for risk to be bigger then 30-35% in total. Also, you can see in my stragey plan that I have marked risk as like there is no risk in the beginning (green), while the same increases slowly from stage 3 furder on (red). It’s not a fail, it’s a psychological issue. Why? Each of you have the most confidence in the beginning of trading and you must take that as your advantage. Confidence means that you are not afraid and that will help you for a good start, but at some point you will start to think about risk and based on my experience it will happen somewere near stage 4, when you tripled the starting capital. From that level risk will be bigger for you, psychological. That’s why I am lowering the leverage in each next stage from the beginning, how to lower the risk in trades toward the end, while the same will increase for you psychologically.
There is not much to write about this, as you can see there are 9 stages in this mission, with 100 pips gain in each one. Don’t change the leverage/position size until you finish the stage in total. Stick to that rule.
In risk explanation I wrote mostly how I have determinated the leverage and why. As the leverage is changing, the mission starts with leverage of 50:1 and it ends at 10:1. That means that your risk is lowest at the end of the mission, as I’ve already explained. It can’t be other way because of the psychology.
POSITION SIZE/LOT MAX.
The position size is determined by leverage and based on my experience, this should be the biggest size of your total trades in this mission, stage by stage. It’s not only that I’ve adjust this for the needed gain, but I’ve think about losing trades in this as well. It will give you enough space for decent protection in each stage, especially at the last three stages, the most important ones. It’s doesn’t mean that you need to have one position in this pointed size, you can have it few, but also all opened positions should not be bigger then detected lots in maximum.
PIPS PER STAGE /100/
100 pips per stage target doesn’t mean that you need to take 100 pips in one trade, no. Sure, if there will be an opportunity to take such a trade, take it why not. But, I would suggest for you to take a 30 to 35 pips targets in single trades. Collect the gain in each stage like that and it will give you more confidence latter on. If you wait too long for large targets, you can become nervous and you know that the market could turn back without a reason, which can be even the bigger problem. If you will have an opportunity to take a bigger trade such as 70 or 100 pips, never stay with SL at break even/entry or even bellow. Move it at least at 30 to 35 pips profit. Your mind will react differently if your winning trade ends at zero or loss and if it ends with gain, no matter the same ends at SL. Stop Loss (SL) at the winning point is same as Take Profit (TP), remember that. It’s a winning trade, it’s not a loss!
At the right side of the strategy page you can run the statistic on how much trades and days you needed to end a certain stage and how much drawdown have you made by trying. Because, you will have a losing trades of course.
Yes, you will have losing trades in this mission, what have you think? 🙂 Of course that you can’t win 900 pips without losing trades and this is very important when it hapens, I could say the most importnat issue in FXtreme strategy. That’s why I will write this! Your losing trade should never be bigger then your previous winning trade. When you win, let’s say 30 pips in stage one, it will bring you aprox $150 profit. In the next trade, don’t risk more then that! If you lose that trade, you can start again like nothing happened, but if you lose too much, you can easily ruin the mission. Try to stick to this and keep pushing forward. Let’s say that you lose a first trade in stage 3, then you will return in stage 2. Don’t continue to trade with lot size from stage 3, because you want to return the loss faster, but return you trades to lot size from stage 2, until you finish the same again. Control your losing trades and that will keep you calm during the mission.
All I can say at the end of the article is that this is possible to trade. I’ve traded for many times during my testings on real accounts, with various account sizes. I’ve traded for several times much stronger strategy than this one, the “FXtreme Aggressive”. The results of my FXtreme trading from 2017 you can check HERE >>>
But, what I want to write before your questions and comments is this. Discipline is everything here and only one thoughtless mistake can ruin your mission. Don’t rush into positions and be calm. If you stick to the plan with desire to reach the target, it can become a great advanture. There is nothing more tempting on forex then reach the goal, to keep trying and never surrender. Protect your starting capital and try to reach this goal with my help.
Btw. I started to trade with FXtreme Aggressive 10 today, with a same capital and goal and I will present my results here soon as I reach the target. Feel free to ask anything, I am ready to answer on all your questions.