Thanks all for the kudos. 1 down I'll see if I can get 4 in a row. Ha ha.
Regarding the Forex I'm up 26.7 and 37.1 pips on each of two 100k lots leveraged at 20:1. Along with daily $37 yield payments unrealized gain is $883.62 over the past week. I'm only using $10,000 out of a $100k account. So I'm up right about 8% of capital and had a drawdown of 3% during the week.
It's not a very good simulation because I'm not going to put 100k into Forex at this time.
So this weekend I created a new account at 50:1 leverage funded it with $2000. I figure that would be as much as I would put into market I don’t really know much about and not worry about missing it if it’s gone. The x50 leverage would give me the ability to purchase 100k units of anything. I bought into it 20,000 units at 117.898 (currently up by 49.3 pips or $83.27). That does not include $31.4269 in interest payments received since the 17th. So the account is up 5.73%. As long as the position stays profitable I’ll keep it open to pick up the $55 a week. Not much but slow and steady wins the race. The interest is the bread and butter and not the price gain.
I only expect to use about 50% of margin, or 50,000 units in the market, to keep myself from getting stopped out as I expect that I could have to take at least 5 to 10% drawdown as times keeping a carry trade going that gives me about 100 pips of volatility. The more free money I earn in the account the more risk I'll take on.
I’m going to track this account from now on rather than some easy money that provides delusions of grandeur.
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