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Trading Mistakes 100 Challenge 0 replies

100 Fold Challenge -> Interested? TEST yourself

BTW on an interesting note,

This thread just reached EXACTLY 0.1 Million views too
rolling in a relatively whopping 31 participants
Attached Image (click to enlarge)
Click to Enlarge Name: 0.1M Views.JPG Size: 28 KB
LOL, as the old saying goes if you did it once, you can do it again.

I on the other hand have had a bad trading year so far. I'm glad this is my small account. I have my large account that I was trading last year, quite successfully, I don't know what I'm doing wrong and what the reasons for such inconsistencies, but I hope this challenge motivates me and changes things around. My six-month old baby girl needs her own bedroom!!

Quoting forexsaint
Alright Shadodwel, Your stats have been update & you are live already
Trade well

@Participants
Let me trying some different/interesting this time. How about <30 $ to 3000$ ..lol

Lets try. Next attempt
Starting Equity: 29.93 USD
Target Equity: 2993 USD
Broker: Fxpro
Leverage: 500:1
Trade Explorer : www.forexfactory.com/forexsaint/35
Stats updated

Here is a twist i thought of....
If this attempt goes past 100 USD equity, which is kinda just 3-4...
Quoting shadodwel
LOL, as the old saying goes if you did it once, you can do it again.
I on the other hand have had a bad trading year so far. I'm glad this is my small account. I have my large account that I was trading last year, quite successfully, I don't know what I'm doing wrong and what the reasons for such inconsistencies, but I hope this challenge motivates me and changes things around. My six-month old baby girl needs her own bedroom!!
Baby bedroom ...ah... wishing you more pips


Going live with a bit larger account
Starting Equity: 98.23 USD
Target Equity: 9823 USD
Broker: Fxpro
Leverage: 500:1
Trade Explorer : www.forexfactory.com/forexsaint/27

Will update stats in a bit


P.S. EURUSD longs @ upper support levels didn't work out for the BIG-sized account (last 1)
Now taking some longs around 1.2929 Support (IMP SUP LVL)
Yeah man, I am still living in our bedroom. Right now it is manageable with the wife and baby. But my wife and baby deserve a bigger place, and that is my motivation.

My last GBPUSD trade didn't work out too well either. I updated my stats just now. I took the trade on the 15 min chart after I saw an ABCD pattern form and I took the reversal at the PRZ zone. I should have checked the 1 hour chart first because an opposite ABCD pattern formed and worked out instead of the 15 min one. It did reverse, but I was stopped out because I only risked 1% on the trade. I'm down a little over 10% on this account this year due to high leverage and just plain sloppiness. I am reworking my trading plan now. I'm taking this challenge very serious. My goal is to turn this account into a AT LEAST 30k account in a year. I know it's doable. Is asking for 75 pips a day too much, in your honest opinion? 75 pips would be equivalent to 3% each day. Or is 2% more reasonable? I see others making hundreds of pips a day, so why shouldn't I??

Good luck to you man!! I hope to have my name added to the list.

Quoting forexsaint
Baby bedroom ...ah... wishing you more pips


Going live with a bit larger account
Starting Equity: 98.23 USD
Target Equity: 9823 USD
Broker: Fxpro
Leverage: 500:1
Trade Explorer : www.forexfactory.com/forexsaint/27

Will update stats in a bit


P.S. EURUSD longs @ upper support levels didn't work out for the BIG-sized account (last 1)
Now taking some longs around 1.2929 Support (IMP SUP LVL)
  • Post# 445
  • Quote
  • Mar 16, 2013 8:59am | Edited at 10:55am – More info
Quoting shadodwel
Yeah man, I am still living in our bedroom. Right now it is manageable with the wife and baby. But my wife and baby deserve a bigger place, and that is my motivation......
I'm taking this challenge very serious. My goal is to turn this account into a AT LEAST 30k account in a year. I know it's doable. Is asking for 75 pips a day too much, in your honest opinion? 75 pips would be equivalent to 3% each day. Or is 2% more reasonable? I see others making hundreds of pips a day, so why shouldn't I??
Good luck to you man!! I hope to have my name added...
Well,
~270 to 30K in an year is about 11100% or multiplying your initial equity * 9.25 times a month on an average.
Looking at it means you gotta need high risk on trades (esp. early on). Though i am not sure how important is that money requirement to you, but if you are thinking to do this challenge, seeing it as "easy" thing and esp. if that starting equity is not too small/dispensable for you (and can be of better use)... then you better think about it again. Of course this thread is for "Low-size/Affordable-risk accounts" as written in the first line of the thread.

Yeah sure... 75 pips a day is no way difficult esp. when there are so many liquid pairs/commodities to trade. Personally made some 10-12000 pips in last 1 month or so (trading just 2-3 pairs) which averages to some 350+ pips/day (2 explorers are linked on FF itself)
Good luck for entry to HOF Trader List but remember its not about the entry. It more about remaining profitable/making money, in the end.
%age is just a number & this thread is just a interesting(yet difficult) challenge related to that number.


@Participants
- All week end updates have been done.
- Last week too was a very good one for VOLATILITY(& prolly OPPORTUNITY)-lovers. EURUSD ceiling breaks, GBPUSD ceiling hits, Swissy moves, USDJPY's more multi-year highs, etc
- USDX as well as Shinzo Abe's JPY-related Volatility was galore(& will prolly continue courtesy action-packed-economic-data next week), to make/lose big amounts of money. Personally enjoyed it
- Still was not able to post charts . Was busy trading this challenge account, conventional trading account and tweeting about trading bias (Posted some small TF charts there like of EURUSD just prior to Bear-Trap & 200 pip upmove)
- We have some INTERESTING Post-Market-Close developments regarding cyprus too . Lets c how the next week pans out.
Lets WnW

@ 28) Jack_Larkin
You have removed your Trade explorer, used to participate in this challenge
www.forexfactory.com/showthread.php?p=6476977#post647697 7
....without updating anything about it in the thread.
Kindly correct the same else as per "Rule T", your status would be updated in a week's time.
I will take the challenge, let me know if I am doing this right.

Starting Equity: $200.78
Account Currency: USD
Broker Name: Oanda
Leverage: Max 50:1
Trade Explorer Link: http://www.forexfactory.com/jwpdad#79

I prefer to keep balance and lot details private, but for the purpose of this contest I will have that available on the weekends. Things have been going well with my current method, we'll see if it can continue. I did make some withdrawal previously but this is my current balance for the start of this contest. I am hoping to achieve hall of fame status within a year.
"Without hesitation, without reservation, without fear." -- Mark Douglas
I'm not going to take high risk trades. I'm only going to risk two percent of the account at most each trade. I am using 1% of my account balance at 25 - 30 pips. I know this challenge won't be an easy thing. However, compounding interest is an incredible thing.

Good luck to all the contestants.

Quoting forexsaint
Well,
~270 to 30K in an year is about 11100% or multiplying your initial equity * 9.25 times a month on an average.
Looking at it means you gotta need high risk on trades (esp. early on). Though i am not sure how important is that money requirement to you, but if you are thinking to do this challenge, seeing it as "easy" thing and esp. if that starting equity is not too small/dispensable for you (and can be of better use)... then you better think about it again. Of course this thread is for "Low-size/Affordable-risk accounts" as written...
Quoting jwpdad
I will take the challenge, let me know if I am doing this right.

Starting Equity: $200.78
Account Currency: USD
Broker Name: Oanda
Leverage: Max 50:1
Trade Explorer Link: http://www.forexfactory.com/jwpdad#79

I prefer to keep balance and lot details private, but for the purpose of this contest I will have that available on the weekends. Things have been going well with my current method, we'll see if it can continue. I did make some withdrawal previously but this is my current balance for the start of this contest. I am hoping...
Alright Jwpdad, welcome
Yeah looks like you read all the rules CORRECTLY. Yes, as long as you don't forget to show equity details at weekend, its fine.
You are LIVE & your stats have been updated in 1st post.
Trade well.


Regarding getting an entry to HOF Trader List, i hope every trader weighs what he/she can get/lose from this participation in this thread & understands that,
at last, its just a list,
in just a (transparent)thread,
in just another forex forum,
on just internet,
in just this f**kin world,
in a tiny solar system,
in this friggin universe,
in a freakin black hole,
in some "Dark matter" & other mind boggling astronomical-porn they talk about...... )
&
also are capable of handling performance anxiety (a usual thing which just has to be forgotten) esp. when you are up there on a "Top traders" list (did i just again talk of a "list"... ... ... let me cut this short now )

Of course, there are always many things to learn doing it.
And there are always naysayers to think/say something about it ( Though, a nice "Slap-on-the-face" answer is there for them, in the main post)



P.S.
Good stats there, you got from dec last year. Keep going.
Quoting shadodwel
However, compounding interest is an incredible thing.
Indeed. the most powerful force in universe
Quoting forexsaint

@ 28) Jack_Larkin
You have removed your Trade explorer, used to participate in this challenge
www.forexfactory.com/showthread.php?p=6476977#post647697 7
....without updating anything about it in the thread.
Kindly correct the same else as per "Rule T", your status would be updated in a week's time.
jack became a commercial memeber ~~don't think he can reply to his own threads let alone respond to this one anymore, and PM doesn't work for commercials either

i got a peek at his explorer before he was commercialized ~~ didn't look like he was going to achieve the challenge any time soon


i may give it a try though, looks fun
Quoting forexsaint
Alright Jwpdad, welcome
Regarding getting an entry to HOF Trader List, i hope every trader weighs what he/she can get/lose from this participation in this thread & understands that,
at last, its just a list,...
You mean there's not a million dollar prize for this? Maybe I should reconsider, oh well, I suppose I'll go ahead with it for the 15 seconds of fame it might bring my way.

Quoting shadodwel
However, compounding interest is an incredible thing.
Quoting forexsaint
P.S.
Good stats there, you got from dec last year. Keep going.

Indeed. the most powerful force in universe
I agree, thanks.
"Without hesitation, without reservation, without fear." -- Mark Douglas
Quoting jwpdad
You mean there's not a million dollar prize for this? Maybe I should reconsider, oh well, I suppose I'll go ahead with it for the 15 seconds of fame it might bring my way.
LOL. Good 1

On this note, i am yet to see a contest (live) with even $0.1 million as prize money (even with those pathetic conditions of lock in period & 100+ traded lots, etc, etc). Most contests got some $2-10k peanuts thrown to lure new traders & still so aggressively advertised by these forex brokers and online trade analytic services.
May be if i can convert $100 to a million, some day, i will generously save $0.1 M as prize money for this thread + an entry to HOF' TL ..... LOL
Brokers may then start baiting some more peanuts...at least... haha
Well,
What a weekly opening... Fiber shorts earning some 7000%+ in profits.

Looks like i have completed the Challenge once again.
Time for adding someone to the HOF Trade List

Current REALIZED equity profit %age is way above 10000% Target Equity
All the more stats are available on Trade Explorer -> www.forexfactory.com/forexsaint#27


Cable shorts @ TOP of friday's swing still On and earning good
Will update the final Challenge completion details, in a bit.
@Participants

Alright, here is the NEWS, once again
Account was up ~4000% @ weekend, but of course the gap down clinched the deal and made it quicker & easier

Starting Equity = $ 98.23
Final Equity = $ 11029.17
Withdrawals = $ 198.23
Net Final Equity = $ 11227.40
Multiplication factor = 114.297 times & thats 14 times more than the darn 100 fold target

Total Trades = 126
Pairs Traded = EURUSD, GBPUSD, USDCHF
Total pips = 8712
Days traded = 5

 More detailed stats are available on FF's Trade Explorer Link -> www.forexfactory.com/forexsaint#27


"HOF' Trader List (HOF'TL) just got its 2nd Entry. Just updated in first post.
Again, a nice feeling turning such a tiny account.
That's what you call a real GOOD "Risk:Reward" ratio"

Given the fact,
that this attempt is also a part of a bigger challenge -> SAINT's Free Account Concept- $100 to $0.1 Million - Attempt Journal ,
this Successful Free Account(SFA) won't be shelved & would be tried for target of 100,000% profits

So i am attaching, all screenshots of Trade explorer, with successful 100 Fold completion, for future reference in the post itself.
Attached Image (click to enlarge)
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Attached File
File Type: zip 2nd HUNT done.zip   2.6 MB | 74 downloads
*Bows down* Teach me, sir, to become as great as you are.

Quoting forexsaint
@Participants

Alright, here is the NEWS, once again
Account was up ~4000% @ weekend, but of course the gap down clinched the deal and made it quicker & easier

Starting Equity = $ 98.23
Final Equity = $ 11029.17
Withdrawals = $ 198.23
Net Final Equity = $ 11227.40
Multiplication factor = 114.297 times & thats 14 times more than the darn 100 fold target

Total Trades = 126
[color=Red]Pairs...
Quoting shadodwel
*Bows down* Teach me, sir, to become as great as you are.
Ahhh, come on shadowel, spare me that sir. Its no way about any greatness.
It sure requires some skills but no way to be called "sir" and other drum-beating ! Please.
Most of the stuff i know is ingrained from watching PA, which can't be easily taught
(and neither i have the plans/pains to; Teachings/Share on FF, these days are questioned more than being loved). Sorry.
Kindly no more discussion on teaching, telling and stuff (else would be cleaned up)
Regards
I know you aren't going to reveal your strategy. I fully understand and accept that. However, to do what you just did, twice, deserves recognition and respect.

I'm working on my strategy, on demo, I have half of it done. I am going back to basics, no fancy indicators, just support/resistance, and Fibs... I hate posting losing trades on trade explorer, especially consecutive losing trades.

Also, I need to motivate myself to get this done, I have been complacent because I have a full time job and all the bills are paid. Thank God, there isn't a time frame to get this done.

Quoting forexsaint
Ahhh, come on shadowel, spare me that sir. Its no way about any greatness.
It sure requires some skills but no way to be called "sir" and other drum-beating ! Please.
Most of the stuff i know is ingrained from watching PA, which can't be easily taught
(and neither i have the plans/pains to; Teachings/Share on FF, these days are questioned more than being loved). Sorry.
Kindly no more discussion on teaching, telling and stuff (else would be cleaned up)
Regards
Quoting forexsaint
@Participants

Alright, here is the NEWS, once again
Account was up ~4000% @ weekend, but of course the gap down clinched the deal and made it quicker & easier

Starting Equity = $ 98.23
Final Equity = $ 11029.17
Withdrawals = $ 198.23
Net Final Equity = $ 11227.40
Multiplication factor = 114.297 times & thats 14 times more than the darn 100 fold target

Total Trades = 126
[color=Red]Pairs...
Congrats , Forexsaint ..You are one hell of a Trader ...
BTW , When are you going to make room for Demo Traders ..Some of us have some crazy ideas ..
and I also suffer from leverage envy ...
Attached Image (click to enlarge)
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"If you wanna hear God laugh, tell Him your plans."
Quoting shadodwel
I hate posting losing trades on trade explorer, especially consecutive losing trades.
I can appreciate this especially that since I joined the challenge I have started with 3 consecutive losing trades. But I believe that I have done enough testing and recovered from losing streaks before that everything will work out OK in the end, we shall see.
"Without hesitation, without reservation, without fear." -- Mark Douglas
Quoting forexsaint
Looks like i have completed the Challenge once again.
Quoting shadodwel
I know you aren't going to reveal your strategy. I fully understand and accept that. However, to do what you just did, twice, deserves recognition and respect.
Yes, much respect forexsaint, very impressive indeed. My approach is different and will take considerably more time, but your success is an inspiration to us all.
"Without hesitation, without reservation, without fear." -- Mark Douglas
  • al2cand
    Joined May 2012
Congrats Forexsaint, it keeps us sticky to the challenge too, a weak leader gets replaced quickly, and vice versa.
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