$409k Challenge

Last week, greed was stronger than me, and lost my account with Gold...
I did start again with 100£ today, will try not to be too greedy this time. I did 11% this night mainly with gold (gold is crazy at the moment)

JANUARY COMPLETED!

Today I completed the first month successfully achieving +100% and I still have a few days left to spare

I'll now move onto the next month of February, and this week I'll only trade IF I see some good opportunities, otherwise I'll continue next week.

This month has been a big personal learning experience for me as I've never attempted something like this before and it has tested my patience, commitment, and risk management. I've learned that 5% a day is not always so easy and sometimes not achievable in a single trade, and sometimes building orders up to reach the target.

I also learned that during the month as the balance grows and sticking to the lot size I had to get more than 10 pips to reach the 5% target as its not always that 10 pips = 5%. I've now learned this and will balance it accordingly during the month but still sticking to the 25% per week minimum.

Cheers!

Well done.

more is better

Today I did something stupid and unnecessary.

After watching Gold and anticipating the gap to close, I missed the move and out of FOMO, I sold at the bottom after the gap had been closed. Literally as soon as I clicked sell I realized how stupid that was especially as I didn't need to trade today and it was not part of my normal analysis.

So of course price started pulling back which put my account into -40% DD before luckily price went back down and I managed to get out in profit.

Lesson learned. Don't do that again.

TGIF!

So that brings us to the end of the first month of the challenge, and a good month it was!

There were a few risky moments, but I managed to recover and maintain the challenge.

I was able to complete the months target ahead of schedule and as it stands I'm 3 days ahead which is a great start to February next week.

Those of you who are also doing the challenge how did your first month go?

Well done....Let the journey continue.
R

1 day with SL And TP

were these traded by an EA?

WOW! Looks GREAT!

Nice! What strategy are you using if you don't mind me asking?

Good luck..☺

Looks like one. Checkup the time

Hi all, as a complete newbie I have fulfilled the rule of 90 by being one of the 90% of people losing 90% of their account in 90 days. Anyway I came across this thread just over a week ago and basically decided with only £100 to lose it was worth a go. I am an Englishman in England so I have changed it up a bit and set a target of £10 per day for the last few days and February, that is approximately 13 pips for me at 0.1 lots. So since then I have concentrated on pips won and not trying to win as many trades as possible. This has changed my mindset completely and changed how I look for trades. So each of the last few days I have completed the task in 1 trade, quickest 30 minutes, longest just under 3 hours. I know there will be much tougher times ahead and it is very possible that I have bitten off more than I can chew but I am excited to give it a good go. I hope you don't mind me tagging along as a novice, up to now I have relied on an EA that is doing very well but I would like to keep learning until hopefully 1 day I will be working alongside the EA. I will try to post at least once a fortnight so you can see how a novice is getting on.

Aaanndddd February is off to a good start! +9.5%.

After reaching today's target of +5% and still seeing some strong selling pressure I took another trade to secure an extra +4.1% for today.

Took 2 quick scalps today to add +6.4%.

Things are going good and technically I'm almost 1 week ahead for February. I'll use this extra % for those days when I don't find any opportunities or I'm unable to trade that day.

EDIT: Ok ok I couldn't resist. I found some more opportunities and took them, added another +5.4%, done for today!

start new from Feb.

hi MrDFX What your strategy on this