{quote} Very good indeed! Seems you're the only one left in the game. I might open an account with Sam fx and stick in $20 and get the $20 trading bonus and give this a go again
- Joined Jun 2017 | Status: Member | 367 Posts
{quote} 10% risk stop loss on every trade
However nice to see, that you do have the right understanding of what risk management is
Many traders believe that the risk is the amount of money traded.I am packing my house right now. I hate that. We will move to another island the 4th. of november. After that I have to unpack and then I will be able to join this contest.
Read post #1 !! Then read it again 10 more times before you ask.
- | Additional Username | Joined Jun 2020 | 96 Posts
{quote} Thanks. But you misunderstod me. I have Level 200 from my broker. Means that my money is worth 200 times as much. However nice to see, that you do have the right understanding of what risk management is
Good luck with the move, will be good to see what you can do!
- Joined Jun 2017 | Status: Member | 367 Posts
Read post #1 !! Then read it again 10 more times before you ask.
- Joined Feb 2011 | Status: Member | 6,018 Posts
Hi 409k'ers
Well I'm giving it another go
Only reason that I'm trying again is because I have this borrowed new strategy, a completely new approach. M1 tickchart, very clever idea!!
70% up today so it's working nicely so far even though the markets are horrid
Only trading Gold of course until I have enough leverage to trade DAX as well
Well I'm giving it another go
Only reason that I'm trying again is because I have this borrowed new strategy, a completely new approach. M1 tickchart, very clever idea!!
70% up today so it's working nicely so far even though the markets are horrid
Only trading Gold of course until I have enough leverage to trade DAX as well
Hi 409k'ers Well I'm giving it another go
MM
- Joined Feb 2011 | Status: Member | 6,018 Posts
{quote} Go for it! I already started my journey by getting 3% daily. I call the thread Utopia. I'm hoping to hit 10k within 1 year. So let's go for them pips
- Joined Feb 2011 | Status: Member | 6,018 Posts
Friday 13th!!
Only just noticed - fortunately I'm not superstitious
Anyway a miserable morning with my system screaming no trade - just got a signal an hour ago. Anyway 23% up is enough for today. 100% up in two days.
I'm pushing it a bit until all those numbers turn green
Only just noticed - fortunately I'm not superstitious
Anyway a miserable morning with my system screaming no trade - just got a signal an hour ago. Anyway 23% up is enough for today. 100% up in two days.
I'm pushing it a bit until all those numbers turn green
- Joined May 2017 | Status: Member | 3,651 Posts
Hello guys! 
TGIF13!
So after a long break I've decided to attempt this challenge again!
Over the last 3 months I've made some changes to the strategy that I was using for this challenge and I think with the new adaptions it should be a fun time ahead.
I've loaded up a $100 account and will start on Monday.
I'm approaching things a little differently this time, but still keeping most things and targets in line with the original challenge. I'll also be making using of Margin Trader to capitalize on good entries to maximize potential profit.
TE is loaded and public for you to follow.
TGIF13!
So after a long break I've decided to attempt this challenge again!
Over the last 3 months I've made some changes to the strategy that I was using for this challenge and I think with the new adaptions it should be a fun time ahead.
I've loaded up a $100 account and will start on Monday.
I'm approaching things a little differently this time, but still keeping most things and targets in line with the original challenge. I'll also be making using of Margin Trader to capitalize on good entries to maximize potential profit.
TE is loaded and public for you to follow.
Truth is like poetry. And most people f*cking hate poetry.
- Joined Feb 2011 | Status: Member | 6,018 Posts
The big word is "consistent"
No good looking at me until I have reached at least $1000 and shown consistent gains over a an extended period. A month or so. Then it can be said that I'm doing something right.
The proof is always in the pudding!!
No good looking at me until I have reached at least $1000 and shown consistent gains over a an extended period. A month or so. Then it can be said that I'm doing something right.
The proof is always in the pudding!!
- | Membership Revoked | Joined Oct 2020 | 1,823 Posts
I can't achieve 1% a day consistently but your achieving 5% a day. Very interesting. I will start reading this thread soon. Hope I could learn something from you. May I know which pair you trade and which time frame you trade most of the time. Are you use EA or Manual trading. Thanks and Best of luck.
I will tear the world apart for you.
- Joined Feb 2011 | Status: Member | 6,018 Posts
Hi fellow challenge traders
I thought that I would mention something that I'm doing now which helps tremendously. Still don't know if my strategy is consistently profitable and only time will tell. Let's see over the coming weeks!
However what I am doing now is something that I used to think was a bad idea but I've come to realise through trading experience that it's not. And that is hedging. It works well with XAUUSD which is fast moving and far moving. Of course the hedge trade must not be too many pips away otherwise it's going to be a tough job making up the loss. I find that about 5- 10 pips (50 - 100 points) works well.
The advantages of hedging is firstly it stops one from adding to a losing trade. That is the main cause of blown accounts, right? Secondly it immediately stops the rot and gives you a chance to think and reflect on what's happening and if you have a good system you can wait out the pull back and rejoin the trend or go with the swing change to end up BE or even make a profit. It essentially means that you can just about eliminate a run of losing trades which is vital if you are going to succeed in this challenge!
Guys it's the difference between insurance and gambling. If you add to a losing trade or let it run in the hope that it's going to turn around eventually, you're gambling. If you hedge you're insuring yourself against loss and most importantly preserving your account balance
I thought that I would mention something that I'm doing now which helps tremendously. Still don't know if my strategy is consistently profitable and only time will tell. Let's see over the coming weeks!
However what I am doing now is something that I used to think was a bad idea but I've come to realise through trading experience that it's not. And that is hedging. It works well with XAUUSD which is fast moving and far moving. Of course the hedge trade must not be too many pips away otherwise it's going to be a tough job making up the loss. I find that about 5- 10 pips (50 - 100 points) works well.
The advantages of hedging is firstly it stops one from adding to a losing trade. That is the main cause of blown accounts, right? Secondly it immediately stops the rot and gives you a chance to think and reflect on what's happening and if you have a good system you can wait out the pull back and rejoin the trend or go with the swing change to end up BE or even make a profit. It essentially means that you can just about eliminate a run of losing trades which is vital if you are going to succeed in this challenge!
Guys it's the difference between insurance and gambling. If you add to a losing trade or let it run in the hope that it's going to turn around eventually, you're gambling. If you hedge you're insuring yourself against loss and most importantly preserving your account balance
- Joined May 2017 | Status: Member | 3,651 Posts
First week done and I added +20% to the account. 
I won't be posting results daily as you guys can follow along with the linked TE, but at the end of the week I'll post the weeks profits.
Have a good weekend guys.
I won't be posting results daily as you guys can follow along with the linked TE, but at the end of the week I'll post the weeks profits.
Have a good weekend guys.
Truth is like poetry. And most people f*cking hate poetry.
- Joined May 2017 | Status: Member | 3,651 Posts
Ok ok, I know I said I wouldn't post results everyday, but today's been a good Monday adding +26% to the account. 
Truth is like poetry. And most people f*cking hate poetry.
- Joined May 2017 | Status: Member | 3,651 Posts
Truth is like poetry. And most people f*cking hate poetry.
- | Joined Sep 2020 | Status: Member | 18 Posts
Well I'm just about ready to give it another go!