SAINT's Free Account Concept- $100 to $10,000- Attempt Journal

SAINT's Free Account Concept- $100 to $10,000- Attempt Journal (Live(Real) Account)


Alright Guys...
Based on the "FREE ACCOUNT" Concept posted ->HERE<-,
I am starting this thread as a journal to track this
attempt to convert $100 Wanna-be-Free-Account (WFA) to a $10,000 Successful Free Account (SFA).

As explained in the thread,
- I have been doing this from quite a time now & this attempt is a kind of challenge for me to test my skills, with a very low risk account size. I have made SFA's with minimum $300 till now.
- In this case, Threshold equity level is $10,000 (10 times what i have tried before)
- Profit "Withdrawal Milking" will be done aggressively as threshold level is pretty high, relatively. I will be explaining/posting the withdrawal process/plan soon.
-------------------------------------------------------------------------------------

I am diving this into 2 Stages:
1) $100 to $1000
This would be relatively more difficult stage and chances of account becoming a BWFA are big.
2) 1000$ to 10000$
This would be relatively easy stage and chances of account becoming a BWFA are less. More probability of BEFA and PFA and of course some for the target i.e. SFA

-------------------------------------------------------------------------------------
PURPOSE:
1) To post all my Trade entries, Trade-edits (wherever possible) & Trade exits during/after my trading time or at least at day's/week's end.
2) To post all withdrawal and related info about this account, asap.
3) To post the overall progress of account status (WFA, BWFA, BEFA, PFA or SFA;Details ->Here<-) and results at last.
-------------------------------------------------------------------------------------

WHEN:
Opening and writing 2 new threads was not a easy job. Got time time today and did the same.
I have already opened & started trading the account 2 days back (22nd November 2010).
-------------------------------------------------------------------------------------

STATUS:
Update 1 (25th Nov 2010/Attempt 1)
So far the trading is going good with the account & its nicely on track. Account had 2 good run trades.
Account Status = WFA; Account Age = 3 Days
Initial Equity = $97; Current Equity = $431 ; Withdrawal Profits (No. Of Transactions)= $0 (0)
Total Profit/Loss= $334; Profit %age (realized) = 334%
Total Trades/Winners/Losers/(BE Trades)/(Open Trades) = 20/19/1/(7)/(0)
Average Winner = $19.12; Average Loser = -$6.23
Trades:

Update 2 (27th Nov 2010/Attempt 1)
Withdrawal plan was to convert to FA after Current Equity reaches 500. But high achieved was only 431$. (May be that wasn't that aggressive plan)
USD strength & relatively more risk taking, did the damage & account has busted in its 1st stage.
Surely, as explained in parent thread, this is an attempt journal & difficult one. Next attempt probably next week.
Account Status = BWFA; Account Age = 5 Days
Initial Equity = $97; Current Equity = $3 ; Withdrawal Profits (No. Of Transactions)= $0 (0)
Total Profit/Loss= - $94; Profit %age (realized) = NA
Total Trades/Winners/Losers/(BE Trades)/(Open Trades) = 30/26/4/(11)/(0)
Average Winner = $14.16; Average Loser = -$91.48
Trades:

-----------------------------------
Update 3 (3rd Dec 2010/Attempt 2)
New account went live today. Start is nice once again.
Planned Withdrawal at 200% this time.
Would have today. Was heavily long with Stops at BE+ but NFP danglers messed(stopped) all up, even though targets were met later!
Account Status = WFA; Account Age = 1 Day
Initial Equity = $100; Current Equity = $247 ; Withdrawal Profits (No. Of Transactions)= $0 (0)
Total Profit/Loss= $147; Profit %age (realized) = 147%
Total Trades/Winners/Losers/(BE Trades)/(Open Trades) = 5/5/0/(1)/(0)
Average Winner = $29.11; Average Loser = $0
Trades:

-----------------------------------
Update 4 (31st Dec 2010/Attempt 2)
Status- All same as before.
Didn't trade this account from last 2weeks or so. Reasons:
- Earlier was busy with other more important "Regular" trading.
- Later market liquidity went too thin
- Year-End-rest and time for Family
Will prolly re-initiate this in in Mid-January(depending upon liquidity)
-----------------------------------
Update 5 (6th July 2011/Attempt 2)
- Accounts stands as it is.
- Been testing lot other "More constructive & Less Risky" things/strategies.
- Will surely get back, as an when would like to esp.risky mood
NOTE: This thread is NOT proving anything . Those who think so, enjoy something else.
-------------------------------------------------------------------------------------
Update 6 (2nd Nov 2011/Attempt 2)
- Account scrapped.
- I have moved on to something on COMPETITIVE scale. Check ->100 Fold Challenge<-
- All are welcome to Join
-------------------------------------------------------------------------------------
Update 7 (13th Feb 2013/Attempt 3)
- Attempt for this thread started
- Target reached.
- Though i haven't yet decided, i may think about upping the ante for myself by starting a 10k to 1000K Attempt, for more future experimental trading.

>Details<
-------------------------------------------------------------------------------------
Update 8 (11th Mar 2013)
- Planned new, difficult and Bigger Challenge for myself.
- New thread started -> $100 to 0.1 Million - Attempt Journal
- I am sure no one has successfully done this before, with such small starting equity. Lets see whether that can be done.


THREAD RULES:
1) No useless sarcasm/unrelated comments/your lost-shirt stories/ racial remarks will be allowed.
2) Constructive criticism allowed, with conditions in point (1)
3) All those still posting, can feed their online ego, before the post is reported & deleted.
4) Anything related which can't be posted can be PM'ed, except sarcasm-bubbles.
5) No requests of any sort, plz.


P.S.
NOTE: I will be adding/deleting/editing stuff in this first post, as all updates will be posted in the first post itself.

is this ur real account?

Ah.. should i have made it more clear?
Yes, of course its a Live(Real) account.
Any way, i added this info to the title.
Thanks for pointing.

bankrupt? blown account? forgot to update? to much work to update?

Bankrupt !
Be happy now, for what you wanted to hear!

No way, I'm not like that. I think it sucks that it didn't work out.
It was a good read though.

Oh yes! It sucks bcoz only one and only "Tipster " got the HOLY Brain & Grail on this earth.
Be happy now, for what you wanted to hear!


P.S. Another such irrelevant reply and u will be on my Ignore list, fully in line with the thread rules posted on starting the thread.

There is another system somewhat similar on FF, the guy calls it the equity millipede. He gets into a position and holds it for a long time (using tight stops), and used the equity from the profit to get into more positions, adding along the way. This way he catches trends and rides them for quite some time.

http://www.forexfactory.com/showthread.php?t=245149

Have you read this thread? What do think?

FYI - I'm a break even trader at best.

Well,

After a long time, i started an attempt for this thread as it requires to start with 100$, though i already have another 100-Fold Challenge thread
This $100 to $10,000- Attempt Journal is done and TARGET EQUITY reached.

Starting Equity = 98.85 USD
Target Equity = 9885 USD
Final Equity = 17240.37 USD
Withdrawals = 98.85 USD
Total Profit = 17141.15 USD
Multiplication factor = 175.40 times & thats >75 times more than the darn $10000 target

Total Trades = 416
Pairs Traded = EURUSD(99.999%), USDCHF (0.001%)
Total pips = 7112
Days traded = 5
All the more stats are available on FF's Trade Explorer Link -> www.forexfactory.com/forexsaint/23


As always, its a nice & rewarding feeling turning meagre 100 USD to 17240 USD
This is the 2nd most BEST R:R account i traded (Most best is a private attempt)
One of the others was ~12100% profit where the starting equity was just ~50$ -> Posted in 100 Fold Challenge Thread






P.S. Regarding those who think of this as show-off or are irreverent to such traders .......
1) I dont give a damn F*** what you think.
2) Show-me off yours...if you are able to make such %ages ever in life. I would highly appreciate your trading skills for sure (except insider trading)
3) Ok. so you don't need to generate those big %age profits, fine mind your own business.
2) By trading such accounts, my purpose is
- Of course to make some money (feeding some experimental guinea pig acc's)
- Testing and upping the ante of my trading skills and related emotion management
&
- Demonstrating with PROOF (not cooked PDF's) that such huge %ages are indeed possible and even with small money too & with consistency, if one has experience & required skills (Though of course no way easily & new traders should never try to)

WOW!!!!!!!!!!!