Trading Rules: A Nutshell

Hi all,

I'm finally done with the setup on my new Forexyard Demo account. 

As on our previous posts, trading calls will officially commence from today, and we will review the result of trading on a week to week, month by month, and year by year basis (hope I'm that determined). Let us move in small strides to make this work on a long term.

Summarizing some facts before we start on making market calls, here are some rules that I will be following:

1. Stops are pre-determined before any entry of trades
2. Size of trade is determined by the total size of the account, total risk should not be more 1% of the total value of the trading account at any time.
3. My target return per week is to achieve 0.5% gains weekly. Compound it by 56 weeks, you should get our annual target. (Gains are tabulated on a weekly basis only)
4. Term of trades may vary between minutes and even up to weeks.
5. Weekly P&L on the Demo Account no. 77104 will be published at both http://systematic-trading.blogspot.com and http://momentum-trading.blogspot.com
6. Not necessary to trade every day.
7. Active momentum trading hours will likely commence from early asia hours at (GMT00:00) to 11pm (GMT15:00). This will be subject to the availability of time to post. I will be making my live calls with a few other friends' at www.marketasiahub.com, as it may be the most suitable platform for real-time trading communications. 

I hope this is sufficient for now. Would welcome more as we move along. The key motive for having this introduction is to maintain a set of rules to decision making which is as systematic as possible. The implementation of more planning tools will be made and discussed in time to come. 

Will be looking forward to your support.

Cheers