Hallo traders.
I have been keeping an eye on this thread for a long time. Most things, I think I understand by now, although I still have some questions. Mostly about trade mechanics.
If I understood correctly, the goal (at least before gold skyrocketed) was to take 11.2 pips profits and and SL of 20 pips. So if you sold XAUUSD at 4961.50, then SL would be 4963.50 and TP 4960.38. Correct?
If so, I wonder how smaller traders (EU) can trade this method? If you only have an account with 200 euros, you cannot even open 0.01 lots. Even 1000 gets you basically nowhere. If I open a trading account with a prop firm to get more leverage, the spread on XAUUSD is around 5 pips, which will eat up any profits...
Is there actually a way for people like me to trade this way? To be clear, I am not asking for a fish. I have already learned much about fishing in this thread. What is left is to find out
where to fish and with
what equipment
.
If some of you legends in this thread could sketch a template for traders like me, that would be extremely helpful. Essentially, if you guys had 500 euros, where and how would position yourselves to grow it?
