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1000% by end of 2018

  • #1
  • First Post: Jan 17, 2018 8:25pm Jan 17, 2018 8:25pm
It's impossible to succeed in Forex without much help from others. That, combined with being obsessed over the years has finally led me to a point where I believe I have a journey worth sharing on Forex Factory.

I don't have very much starting capital so the trading will be very aggressive, at least in the beginning, with the goal of going from 2K to 20K by end of 2018.

If all this doesn't blow up in my face then this could also become a reminder to some that if you don't let your failures be fatal and continue going through the legitimate suffering that goes along with the grind, you will eventually find success in some form.

Good luck to everyone (including me)
  • #2
  • Jan 17, 2018 8:50pm Jan 17, 2018 8:50pm
All the best mate.
  • #3
  • Jan 18, 2018 1:50am Jan 18, 2018 1:50am
Hi,
from your results it seems very promising. Can you share some information about your strategy?
  • #4
  • Jan 18, 2018 3:50am Jan 18, 2018 3:50am
welldone
  • #5
  • Jan 18, 2018 4:37am Jan 18, 2018 4:37am
Quoting lewap
Hi, from your results it seems very promising. Can you share some information about your strategy?
Thanks for the comments.

The strategy trades during both ranging and trending market conditions. So it's difficult to label the strategy exactly because it's not like only one mutually exclusive strategy. At any given moment, the same trade could equally be considered different things at the same time depending on which way you choose to look at it.

Is that what you were asking or something more specific?
  • #6
  • Jan 18, 2018 5:09am Jan 18, 2018 5:09am
All the best in your efforts! I wish you success
We Can
  • #7
  • Jan 18, 2018 5:14am Jan 18, 2018 5:14am
Quoting MTEATrader
It's impossible to succeed in Forex without much help from others. That, combined with being obsessed over the years has finally led me to a point where I believe I have a journey worth sharing on Forex Factory. I don't have very much starting capital so the trading will be very aggressive, at least in the beginning, with the goal of going from 2K to 20K by end of 2018. If all this doesn't blow up in my face then this could also become a reminder to some that if you don't let your failures be fatal and continue going through the legitimate suffering...
Good luck on your journey
POW!
  • #8
  • Jan 18, 2018 7:13am Jan 18, 2018 7:13am
Quoting MTEATrader
{quote} Thanks for the comments. The strategy trades during both ranging and trending market conditions. So it's difficult to label the strategy exactly because it's not like only one mutually exclusive strategy. At any given moment, the same trade could equally be considered different things at the same time depending on which way you choose to look at it. Is that what you were asking or something more specific?
What is your RRR?
  • #9
  • Jan 18, 2018 8:37am Jan 18, 2018 8:37am
Quoting lewap
{quote} What is your RRR?
The trades aren't placed with a risk to reward ratio.
  • #10
  • Jan 19, 2018 1:13pm Jan 19, 2018 1:13pm
For Friday, the account gained 6.2% and balance matched equity. But, I got a bit greedy and continued trading past the time that makes things risky with the current EA settings. This led to much drawdown, I lost the earlier gain of 6.2% and currently in drawdown $375. The drawdown is meant to be around $25 to $50 and stepping outside the strategy rules due to greed backfired.

Therefore this attempt is blown.

There's currently $558 left in equity. I'll close everything out by end of Friday and take whatever profits remain and start over on Monday with adjusted settings, more sense, and less greed.
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  • #11
  • Jan 19, 2018 2:06pm Jan 19, 2018 2:06pm
Sorry this didn't turn out to be a good example of a Forex strategy. I'm going to disappear for a while and may eventually return with a more worthwhile journey to follow. Good luck to everyone.
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  • #12
  • Jan 20, 2018 6:09pm Jan 20, 2018 6:09pm
2nd Attempt:

I didn't expect to start the 2nd attempt so quickly but I think a little adjustment may have been all that was needed. The goal for the TE is to maintain a less than 3% drawdown while generating a 3% daily profit with no compounding. The compounding will only occur at 100% gain intervals. A drawdown of anything over 5% will be considered a blown attempt which would need further improvements or adjustments in settings.
  • #13
  • Jan 20, 2018 11:19pm Jan 20, 2018 11:19pm
Quoting MTEATrader
Sorry this didn't turn out to be a good example of a Forex strategy. I'm going to disappear for a while and may eventually return with a more worthwhile journey to follow. Good luck to everyone. {image}
how big risk level you use on 1 trade ?

Doe sits contain martingale our grid elements ?
  • #14
  • Jan 21, 2018 2:15am Jan 21, 2018 2:15am
Quoting FxEmilio
{quote} how big risk level you use on 1 trade ? Doe sits contain martingale our grid elements ?
About the risk, there's not a fixed dollar amount but a typical daily volume is anywhere from 1 to 2 standard lots for each 1K in the account. So in the 1st TE attempt with a 2K account, on intraday trades there was typically 2 to 4 standard lots placed each day. To be specific, 0.01 for each trade per 1K.

The entries are not grid and neither Martingale or anti-Martingale. I would say the entries would probably most resemble dollar cost averaging.
  • #15
  • Jan 21, 2018 4:19am Jan 21, 2018 4:19am
Quoting MTEATrader
{quote} About the risk, there's not a fixed dollar amount but a typical daily volume is anywhere from 1 to 2 standard lots for each 1K in the account. So in the 1st TE attempt with a 2K account, on intraday trades there was typically 2 to 4 standard lots placed each day. To be specific, 0.01 for each trade per 1K. The entries are not grid and neither Martingale or anti-Martingale. I would say the entries would probably most resemble dollar cost averaging.
isnt dollar cost averaging a grid, per se?
there is always, always another trade!!
  • #16
  • Jan 21, 2018 10:35am Jan 21, 2018 10:35am
Quoting profitfarmer
{quote} isnt dollar cost averaging a grid, per se?
No technique in Forex trading is mutually exclusive. For the closest similarity I'd say it would probably most resemble dollar cost averaging.
  • #17
  • Jan 21, 2018 5:32pm Jan 21, 2018 5:32pm
Quoting FxEmilio
{quote} what you mean 1 standard lot - its 1.0 ? run 1 lot on 1000 $ acc its crazy risk ! our you mean 0.01 lot ?
It would be crazy risk if the entries were more on the sloppy side. This is a 2K account and the 2 to 4 standard lots on average is not all placed at once in a few trades. That would be crazy risk. Instead that volume is spread out throughout the day on all the pairs with many trades (so they're opening and closing at different times) with each trade being 0.02 since it's a 2K account.
  • #18
  • Jan 31, 2018 3:04pm Jan 31, 2018 3:04pm
I've posted the new TE. The drawdown should now be better controlled by trading only one pair instead of all pairs. I don't think TE is displaying the drawdown correctly. Right now it's showing 0.0%
  • #19
  • Feb 5, 2018 4:08am Feb 5, 2018 4:08am
Quoting MTEATrader
I've posted the new TE. The drawdown should now be better controlled by trading only one pair instead of all pairs. I don't think TE is displaying the drawdown correctly. Right now it's showing 0.0%
Good Luck...Wish you'll be successful..
If you don't give up, you will get it..
  • #20
  • Feb 6, 2018 4:20pm Feb 6, 2018 4:20pm
Quoting tumir66
{quote} Good Luck...Wish you'll be successful..
Thank you, it's good to see other positive traders here.
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