Ok, we've had the Challenge Project going now for a while now. We started out with $500, and we now have about $897.92 in various accounts. But what, exactly, is the 'plan' for the Challenge Project. I've discussed the need to have a business plan, or money management strategy for your account. So what is the current 'business plan'?
Well, it's going to be run according to 'stages' or 'phases'. The Challenge Project currently has one goal at the moment. And that goal is not trading. At least not while it is in the current 'phase'. As I discussed in my video to be found here: http://www.youtube.com/watch?v=lHYUFT... The infusion of capital to the low-funded account is absolutely critical. Therefore, the goal is to increase the amount of trading capital. That's the first priority at this stage. I'll take trades from time to time, so long as the risk from those trades do not hurt the month to month goal of increasing the account equity.
Herein, I present the outline for the Challenge Project while it is in the current "Tiny" phase.
As I stated before, the first priority is increasing account capital. Trades will taken in this stage, only so far as the risk from those trades do not interfere with that goal.
NOTE: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research and risk tolerance.