LEVEL 3: THE $25,000 FIRST-50-TRADE CHALLENGE

This level of capital presents new opportunities and new challenges. A $25,000 account
offers the opportunity to trade a combination of more pairs, larger sizes, and longer durations.
More sophisticated strategies can be put to the test. The trader at this level of
capital can trade more than one strategy. Therefore, we divide the trade challenge into
two phases.
1. Phase 1: Intraday Trading
a. Select two currency pairs to start trading.
b. Raise your lot size to maximum of five lots. Remember to use five lots only when
you have a high confidence level in the setup observed.
c. Leave your risk per day at 3 percent.
d. Set the goal to achieve an average pip gain of 10 pips for one pair and 20 pips for
the second pair, per trade, for a 25-trade sequence.
e. When using multiple lots, use an all-in and legging-out strategy.
2. Phase 2: Multiple-Day Positions
a. Take the next 25 trades and focus on opportunities for 50-pip or more gains. This
involves using the 4-hour chart to identify large trading ranges.




By Abe Cofnas