"The best-laid plans of mice and men often go awry"
This entire thing is a best case scenario, intended for fun. DO NOT use real money unless you can afford to LOSE IT. No really, I'm serious. This is NOT a 'get rich quick' thing. This is a fun challenge that will probably NOT go as planned. Do NOT use my thoughts and comments as advice. THIS IS FOR FUN. YOU WILL PROBABLY LOSE ALL OF YOUR MONEY.
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We start October 27th with a $2,000 micro account. You can start with whatever you have, even if it's a demo account. Our goal is to earn 30 times our initial investment in 12 months. Here is how we will do it. I estimate that this EA can make about $50 a day on a $2,000 micro account, trading pennies (0.01 lot sizes) on 18 pairs (9 currencies, running twice with 2 versions of the EA). This is a bit lower than the average I have been making over the past 5 weeks, even in this market.
PHASE I
Start with the 2k mini account. Run on 9 currency pairs, twice. Once with the standard EA, once reversed or AWE.
Bank half of your profits every 2 weeks during Phase 1.
Split your account once you have $2,000 in system profits (ie, you will have made $4,000 but you have banked 2k, so the other 2k goes back into the system)
At $50 a day, it will take ~80 trading days to get the $4,000 needed to split the account (after taking out $2,000 in profits). This should land us on a split by February 13th, 2009. Now, with 2 accounts, we are making $100 a day. We can add another account once another $4,000 is made, in about 40 trading days, or on about April 10th, 2009. Now with 3 accounts, at $150 a day, another account will be added on about May 19th, then as follows:
Account 4 May 19th
Account 5 June 16th
Account 6 July 8th
Account 7 July 28th
Account 8 Aug 13th
Account 9 Aug 27th
Account 10 Sept 9th
At this point, we have already banked $18,000 in profits and we have reinvested another $18,000 for a total of $36,000. We are now in Phase II.
PHASE II
At this point, we will build the micro accounts until they are $5,000 in size. We will increase the lot size by 0.01 each time our account increases $1,000. So, at $3,000, we are trading 0.02 (and hoping to average $75 a day), $4,000 we are trading 0.03 (also at $75), and at $5,000, we are trading 0.04 sized lots. Once we hit $5,000 in the account, we will expect to make $100 a day per account.
By Oct 14th, we should have the 3k accounts setup with a total profit of $56,000. With 5 more days to end the year, we should have made around $59,750.
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The EA used is the 100/40 by Nanningbob and it's variants, the 100/125, 60/40, and Bastard.
I will be using bastard since it has a few extra options built in that let me easily switch signals, and between 'standard' and 'funky' (or backwards) trading. Below are the 100/40 and bastardv03.
Information about the 100/40 can be found in this post. It starts around page 40 or so, look for Nanningbob's posts.
You can see the results we all have with it both in that thread and in this thread (Frosty's daily trades).
If you are not willing to take the time to read the threads (yes, I know they are very long) then you should NOT join this challenge. For those of us who have read them and understand the systems, lets have some fun!
I will be trading the following pairs to start with:
CHFJPY EURCHF EURJPY EURUSD GBPJPY GBPUSD USDCHF USDJPY
CHFJPY EURCHF EURJPY EURUSD GBPJPY GBPUSD USDCHF USDJPY
I will be running 100/40 on one set of them and Bastard with AWE on another set. Once I start my next account, it will be running with bastard in AWE standard and funky on two sets. After that, I will start mixing things up a bit with the 100/125, 60/40, etc..
Don't get greedy. $50 a day is doable. -$500 is also a reality if you get greedy. Take your profits and walk away. Some days, you will make more, some less. If you have made what you need, feel free to turn things off. DONT GET GREEDY.
Each week, we will track our progress here and see how things go, if we hit our dates and if we hit our profits. See you at the starting line!
This entire thing is a best case scenario, intended for fun. DO NOT use real money unless you can afford to LOSE IT. No really, I'm serious. This is NOT a 'get rich quick' thing. This is a fun challenge that will probably NOT go as planned. Do NOT use my thoughts and comments as advice. THIS IS FOR FUN. YOU WILL PROBABLY LOSE ALL OF YOUR MONEY.
----------
We start October 27th with a $2,000 micro account. You can start with whatever you have, even if it's a demo account. Our goal is to earn 30 times our initial investment in 12 months. Here is how we will do it. I estimate that this EA can make about $50 a day on a $2,000 micro account, trading pennies (0.01 lot sizes) on 18 pairs (9 currencies, running twice with 2 versions of the EA). This is a bit lower than the average I have been making over the past 5 weeks, even in this market.
PHASE I
Start with the 2k mini account. Run on 9 currency pairs, twice. Once with the standard EA, once reversed or AWE.
Bank half of your profits every 2 weeks during Phase 1.
Split your account once you have $2,000 in system profits (ie, you will have made $4,000 but you have banked 2k, so the other 2k goes back into the system)
At $50 a day, it will take ~80 trading days to get the $4,000 needed to split the account (after taking out $2,000 in profits). This should land us on a split by February 13th, 2009. Now, with 2 accounts, we are making $100 a day. We can add another account once another $4,000 is made, in about 40 trading days, or on about April 10th, 2009. Now with 3 accounts, at $150 a day, another account will be added on about May 19th, then as follows:
Account 4 May 19th
Account 5 June 16th
Account 6 July 8th
Account 7 July 28th
Account 8 Aug 13th
Account 9 Aug 27th
Account 10 Sept 9th
At this point, we have already banked $18,000 in profits and we have reinvested another $18,000 for a total of $36,000. We are now in Phase II.
PHASE II
At this point, we will build the micro accounts until they are $5,000 in size. We will increase the lot size by 0.01 each time our account increases $1,000. So, at $3,000, we are trading 0.02 (and hoping to average $75 a day), $4,000 we are trading 0.03 (also at $75), and at $5,000, we are trading 0.04 sized lots. Once we hit $5,000 in the account, we will expect to make $100 a day per account.
By Oct 14th, we should have the 3k accounts setup with a total profit of $56,000. With 5 more days to end the year, we should have made around $59,750.
-----------------
The EA used is the 100/40 by Nanningbob and it's variants, the 100/125, 60/40, and Bastard.
I will be using bastard since it has a few extra options built in that let me easily switch signals, and between 'standard' and 'funky' (or backwards) trading. Below are the 100/40 and bastardv03.
Information about the 100/40 can be found in this post. It starts around page 40 or so, look for Nanningbob's posts.
You can see the results we all have with it both in that thread and in this thread (Frosty's daily trades).
If you are not willing to take the time to read the threads (yes, I know they are very long) then you should NOT join this challenge. For those of us who have read them and understand the systems, lets have some fun!
I will be trading the following pairs to start with:
CHFJPY EURCHF EURJPY EURUSD GBPJPY GBPUSD USDCHF USDJPY
CHFJPY EURCHF EURJPY EURUSD GBPJPY GBPUSD USDCHF USDJPY
I will be running 100/40 on one set of them and Bastard with AWE on another set. Once I start my next account, it will be running with bastard in AWE standard and funky on two sets. After that, I will start mixing things up a bit with the 100/125, 60/40, etc..
Don't get greedy. $50 a day is doable. -$500 is also a reality if you get greedy. Take your profits and walk away. Some days, you will make more, some less. If you have made what you need, feel free to turn things off. DONT GET GREEDY.
Each week, we will track our progress here and see how things go, if we hit our dates and if we hit our profits. See you at the starting line!
Attached File(s)
100+40 1D.mq4
24 KB
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468 downloads