I hate to call it a goal sometimes, it's more of a benchmark.
I don't place my TPs exactly where I'd get 1%. I place them where I see it going. I like to stick to EJ because it moves, but not too wild and I've been able to catch most of the moves.
When you say you go in 10% what's that mean?
I go in $1/pip (my account is 4.5k) then avg in every 50-100 pips another $.50/pip.
I do that because, $1 pip, on a 50-100 pip move, is 1%+. This is what's worked for me to get 100% a month. But there are times like EU for instance where it moves wayyy below where you thought it would go, so it works out allot better than if my initial was $2/pip or $4/pip because if I was in much larger, I'd be wiped out by now.
I also have the ability to buy TOO early. Remember when you waited for EU at 1.45 when it was at 1.46? This time it worked out, but this time is also extremely rare, so I buy, just in case NOW is the time it shines. Maybe not even $1/pip, but $.50/pip because I'm not too sure yet.
I base risk on each trade, if I love the setup, $1/pip. If it's ehh, .5/pip, if it's just a winger, .25 or whatever.
Compounding is nice. 1% is very nice, but if you have alot of money, look at .5% which using the same entry sizes as the 1% makes it twice as easy, or half the size you trade, and it's alot less stress.
The key to forex, is having a large account. That's my final answer. :p
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