Can you make 5% return on your investment per week with a 1000$ Forex account?
Well, this seems to be a question many new, as well as seasoned traders wonder. I scanned through various forums, Babypips, Reddit, Myfxbook and Forexfactory just to name a few. I found hundreds of threads with a similar title or... challenge. What's interesting though, is that most if not every one of these threads end up being "dead" after only a few months. Besides, many of them seem fake because they never show you any data.
Either the trader blew his/her account or, if we try to be really optimistic, they made so much money that they are just taking it easy on their private Islands... and that explains why those threads end up being abandoned. Haha... well, jokes aside - let's get down to business.
Here is a brief update on how my Forex challenge is going - how much I managed to make from trading a 1000$ Forex account this month:
P.S - remember this challenge was started 10th of February in 2020. And this is an old account that has not been traded since 2017 before this challenge started. Back then in 2017 I blew a 1000$ account. This is why I started this challenge with another 1000$ three years later. Also, please note that I withdraw the 5% ROI the soon as I hit just a bit above it. Meaning, I am not compounding profits and I do NOT increase position size. I may however increase position size once I have withdrawn a total of 1000$ and re-deposited this amount to double the account balance. That's when we can make a plan for a new position size! See my previous post about this 1000$ Forex challenge here.