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Attachments: $99 to $100,000 is it possible?
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$99 to $100,000 is it possible?

  • #21
  • Nov 13, 2019 7:45am Nov 13, 2019 7:45am
Quoting jgadefelth
I hope you make this challenge, it is intresting to follow. I only wish you stay focus on your own trading and disregard others on forum and Everything else. Please also try to talk Little slower in video i have Little hard time hear what you say do to my hearing is Little less thank you Best regards
Thanks, i was thinking about some problems with my video, and I think that fluent speech is one of them.
  • #22
  • Edited 3:21pm Nov 13, 2019 8:11am | Edited 3:21pm
So, what we have for today.
1. I start to make lots of mistakes
2. The biggest problem - I've opened too many trades intraday, this made me emotional, and to be honest I don't like to trade timeframes lower than D1. Why did i do that? Lower timeframes = more opportunites, but I forgot that it's also more stress. Nevetheless, it's still good experience.
3. It's difficult to record video trading intraday, so i will stop this kind of trading and continue to trade only D1.
4. I'am going to restart this challenge, for now, after today's trading i have 245$ and GBP/USD buy trade, this will be continuation point of this challenge, still +150%

Best regards

UPD: this trade was closed with a positive result of +73$. I was trying to avoid of triple swap by closing this position ot he close of daily candale, but price went up without me. For now, waiting for another opportunity. Will post a video soon
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd3.jpg Size: 398 KB
  • #23
  • Nov 13, 2019 3:36pm Nov 13, 2019 3:36pm
  • #24
  • Nov 13, 2019 11:26pm Nov 13, 2019 11:26pm
You placed a buy order in a market that is going down.

If you keep the position open more than it is needed you are going to loose a lot of money!!!
  • #25
  • Nov 14, 2019 1:29am Nov 14, 2019 1:29am
Quoting NrSLionHeart
You placed a buy order in a market that is going down. If you keep the position open more than it is needed you are going to loose a lot of money!!!
It always goes up and down, I care only about probabalities of reaching my target of 1:2 risk reward ratio. It even could be achieved in a downtrend, it mainly depends on entry price.
  • #26
  • Nov 14, 2019 1:37am Nov 14, 2019 1:37am
GBP/USD update
In the morning (I live in Poland), price went down, and I could enter even at better price. Previous close was 1.28418, and I could enter at 1.28378 (4 pips saved), also i could avoid of triple swap, and it also saved me 3 pips, in total 7 pips with 0,7 Lot is 49$, really good result.
For now this trade is closed with a result of +185.50$, previous trade had a result of +73.50, and i could get + 259$
For now, I have 504$ on my account, it's +400%
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd4.jpg Size: 357 KB
  • #27
  • Nov 14, 2019 2:37am Nov 14, 2019 2:37am
I was wrong, you were right!!!

Congratz !!!!
  • #28
  • Nov 14, 2019 3:12am Nov 14, 2019 3:12am
Quoting NrSLionHeart
I was wrong, you were right!!! Congratz !!!!
Thanks, but I don't think that in this game we have someone who is right or wrong, it's depends only from traders point of view.
We have different strategies, different money managements and targets.
For example, if i think that trading against the trend could bring me 1:2 risk reward ratio, i will open this trade and everything i need is to find good entry point. If you trade with the trend it doesen't make you wrong when correction comes in the market, but at this point we both right until we have our calculated stop-Losses

Made a picture for better explanation
Attached Image (click to enlarge)
Click to Enlarge Name: explanation of trend trading.jpg Size: 137 KB
  • #29
  • Nov 14, 2019 5:24am Nov 14, 2019 5:24am
Good Luck. Keep GOing. I am watching you. Do it now please
  • #30
  • Nov 14, 2019 6:06am Nov 14, 2019 6:06am
I've made a record of my trade on GBP/USD. I don't know when i could get my next entry signal, but I will continue to make recording of my trades, it's even interesting to analayse them using video.

Inserted Video
  • #31
  • Nov 14, 2019 1:31pm Nov 14, 2019 1:31pm
Quoting PandaTradeFx
I've made a record of my trade on GBP/USD. I don't know when i could get my next entry signal, but I will continue to make recording of my trades, it's even interesting to analayse them using video. https://youtu.be/-CQhAKzJs8M
Well done!
  • #32
  • Nov 15, 2019 2:56am Nov 15, 2019 2:56am
For now I have one more trade, I opened sell position on USD/CAD. And one thing that I really dont't like about the market is:
Hope, it will go down, but who knows
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 151 KB
  • #33
  • Nov 15, 2019 5:45am Nov 15, 2019 5:45am
Quoting PandaTradeFx
For now I have one more trade, I opened sell position on USD/CAD. And one thing that I really dont't like about the market is: Hope, it will go down, but who knows {image}
What tool do you use to calc your position size?
  • #34
  • Nov 15, 2019 7:33am Nov 15, 2019 7:33am
Quoting kofix11
{quote} What tool do you use to calc your position size?
It's a script, just print risk in percents of current account, place your stop-loss level and press submit, and it will open order with the necessary lot size. I asked my friend to write it for me.
  • #35
  • Nov 15, 2019 7:54am Nov 15, 2019 7:54am
Quoting kofix11
{quote} What tool do you use to calc your position size?
I think myfxbook.com home and then forexcalculations and there you find what you like i think

Best regards
  • #36
  • Nov 15, 2019 8:04am Nov 15, 2019 8:04am
It's not the best day today, closed my USD/CAD sell right before price went down, still in profit, but really worst exit point i had 1.32383 +64$
If I'll contiue to trade like this it will take a year to reach my goal.
For now i have sell order on EUR/USD, and as usual you will see everything in the video
  • #37
  • Nov 15, 2019 8:23am Nov 15, 2019 8:23am
Quoting PandaTradeFx
It's not the best day today, closed my USD/CAD sell right before price went down, still in profit, but really worst exit point i had 1.32383 +64$ If I'll contiue to trade like this it will take a year to reach my goal. For now i have sell order on EUR/USD, and as usual you will see everything in the video


maybe looking over your strategy and adapt to a stratgy that leaves the trade and turn the computer off and have a stop and target and the only thing most of the time is it is going to stop or it is going to target.
  • #38
  • Nov 15, 2019 8:57am Nov 15, 2019 8:57am
Quoting jgadefelth
{quote} maybe looking over your strategy and adapt to a stratgy that leaves the trade and turn the computer off and have a stop and target and the only thing most of the time is it is going to stop or it is going to target.
Totaly agree with you, I have a good strategy, but the worst thing about it is my emotional attitude to trading.
I know that: AVERAGE TRADER MAKES TRADE AND FEELS GOOD, GREAT TRADER MAKES TRADE AND FEELS NOTHING

Still have something to work on.

Thanks for advice, jgadefelth

EUR/USD trade is also closed with the profit of +94$. I have closed because was feeling myself emotional.

In total i have 663$ on my account or +560%
  • #39
  • Nov 16, 2019 2:14pm Nov 16, 2019 2:14pm
Am i thinking right if i shall do this challenge but with a win rate of 50 percent r little lower maybe and a risk to reward ratio that is the same as an risking a 50 percent to get 100 i will risk how mutch 33 percent to try to get 100 ?

Best regards
  • #40
  • Edited 3:40am Nov 17, 2019 3:03am | Edited 3:40am
Quoting jgadefelth
Am i thinking right if i shall do this challenge but with a win rate of 50 percent r little lower maybe and a risk to reward ratio that is the same as an risking a 50 percent to get 100 i will risk how mutch 33 percent to try to get 100 ? Best regards
If you want get 100% on your account with risking 33% you need 1:3 risk reward ratio, if you have 50% win rate you need to open something like 49 trades to achieve target of 100.000$ starting from 100$
If you risking 33% with 1:2 risk reward ratio and 50% win rate you need to open 122 trades to achieve target of 100.000$ starting from 100$

If you risking 50% of your account and somehow you can open 10 profitable trades in a row with 1:2 risk reward ratio you will get 100.000$ starting from 100$.
If you have 80% win rate it will take 14 trades with 1:2 risk reward ratio, if it only 1 best trade in a week, it will take only 14 weeks or one season.

In reality, it's very difficult, especially because of emotions, let's imagine that you've made 11 trades and for now you have 50.000$ on your account, to get to 100.000$ you need to risk 50% of your account or 25.000$, would you be calm as stone, or crazy as dog running after car? And that is main difference between average trader and great trader.

I'am still average, but "A smooth sea never made a skilled sailor"
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