If I had to start back with $1,000...
here's how I'd grow the account to $10k in 60 days🧵
(using risk management and indices trading)
A bit of Maths
To reach $10k in 60 trading days, let's first break down the numbers.
Using a compounding calculator, the account would need to grow just under 6% each day
Let's say I have a strategy that has a 66% win rate
I don't use the R/R ratio as the BTI method is based on the hard exit, our custom trailing stop-loss
Usually, with indices, I take up to 10 trades a day (at most)
Now let's get into the strategy:
Intraday is the answer
Day trading would make more sense for this since I would need to take enough trades to reach my goal
Swing trading would tie up my capital for too long.
My bread and butter is the BTI trading method, so I'd use that as the premise of my strategy
I'd focus on only a few highly liquid futures and/or CFDs names like:
Each morning, I take trades based on the smaller time frame
Although my goal is 3 trades a day, I wouldn't force any
Some days I'd take no trades and some days I'd take 6 trades
I would also journal each trade to see what I could improve on
Plus, for all the trades that I don't take because of bad analysis, I would journal those too and log my reasoning
I try to do it within a few hours after it happens, otherwise, I forget what I've thought and won't log those trades correctly.
This isn't necessarily the best way to do it, but it's how I'd do it.
You don't need to over-complicate your trading
Just break down the numbers and make sure you're using proper risk management
If there's any takeaway from this:
Break down the numbers
Use 1 strategy and improve it over time
Don't force trades to hit your goal. Opportunities will always be there.