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$409k Challenge

  • #161
  • Feb 18, 2020 12:44pm Feb 18, 2020 12:44pm
Quoting mrdfx
FEBRUARY COMPLETED! Today I completed the 2nd month successfully achieving +300% and I still have a 8 days left to spare I'll now move onto the next month of March, and for the rest if the month I'll only trade IF I see some good opportunities. This month has been another personal learning experience for me as I made some hasty decisions which put me in some unneeded situations of DD although I did recover and make a profit. Having patience has been the biggest learning curve for me, and I need to work more...
Way to go mrdfx!
best of luck in the 2020 journey
What goes up will come down...
  • #162
  • Feb 18, 2020 1:15pm Feb 18, 2020 1:15pm
Quoting NoNonSenseFX
master one pair and you will be very profitable. {image}
This is key! A lot of people don't understand this!
  • #163
  • Feb 18, 2020 1:21pm Feb 18, 2020 1:21pm
I'm gonna go ahead and ride the wave with this one, going to do it a bit different though. Will be risking 10%-20% depending on the setup/risk. Will be aiming for minimum 10% daily and will be starting with $500. Will start tomorrow during London session; will post all my trades. Good luck, Hope everybody here can get paid!
  • #164
  • Feb 18, 2020 2:17pm Feb 18, 2020 2:17pm
Quoting 1804ofwallst
I'm gonna go ahead and ride the wave with this one, going to do it a bit different though. Will be risking 10%-20% depending on the setup/risk. Will be aiming for minimum 10% daily and will be starting with $500. Will start tomorrow during London session; will post all my trades. Good luck, Hope everybody here can get paid!
don't do the crazy thing like 10 percent 20 percent risk that is sure to the way of disaster..
Trade fearless not careless...
  • #165
  • Feb 18, 2020 2:39pm Feb 18, 2020 2:39pm
Quoting mohsinali
{quote} don't do the crazy thing like 10 percent 20 percent risk that is sure to the way of disaster..
I only trade what I can afford to lose. Percentage of my risk is determined by my stop loss.
  • #166
  • Feb 19, 2020 5:58am Feb 19, 2020 5:58am
Here is the account stats on Myfxbook for anyone that's interested.
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Truth is like poetry. And most people f*cking hate poetry.
  • #167
  • Feb 19, 2020 7:27am Feb 19, 2020 7:27am
Another day, another dollar.. +5.3% added.
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Truth is like poetry. And most people f*cking hate poetry.
  • #168
  • Feb 19, 2020 8:10am Feb 19, 2020 8:10am
One of my concerns with this challenge is about the broker and if they will let me complete it? I mean if everything goes fine and when I get to the later months when the compounding really kicks in, will the broker let me keep trading or freeze my account for "irregular trading activity"?

For a trader to take a $100 account to hundreds of thousands, it will surely get the brokers attention, and if they don't freeze the account will they even let me withdraw so much money?

ICM is supposed to be a good broker, I just hope they don't screw around with me!

Looking at the plan, IF theoretically I took this on for 2 years and didn't withdraw anything I would be a billionaire LOL.

I think a good idea would be to make some smaller withdrawals along the way when the accounts goes into 5 digits just to get something out IF the broker screws with me.
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Truth is like poetry. And most people f*cking hate poetry.
  • #169
  • Feb 19, 2020 8:13am Feb 19, 2020 8:13am
Quoting mrdfx
One of my concerns with this challenge is about the broker and if they will let me complete it? I mean if everything goes fine and when I get to the later months when the compounding really kicks in, will the broker let me keep trading or freeze my account for "irregular trading activity"? For a trader to take a $100 account to hundreds of thousands, it will surely get the brokers attention, and if they don't freeze the account will they even let me withdraw so much money? ICM is supposed to be a good broker, I just hope they don't screw around...
Dancing Phil (I do not know was he scam or not) spreaded money between different accounts and brokers with copying trades.
  • #170
  • Edited 10:23am Feb 19, 2020 9:38am | Edited 10:23am
Quoting SuperPip
{quote} Dancing Phil (I do not know was he scam or not) spreaded money between different accounts and brokers with copying trades.
https://www.forexfactory.com/showthread.php?t=505253

interest thread!....
  • #171
  • Feb 19, 2020 10:06am Feb 19, 2020 10:06am
Quoting mrdfx
One of my concerns with this challenge is about the broker and if they will let me complete it? I mean if everything goes fine and when I get to the later months when the compounding really kicks in, will the broker let me keep trading or freeze my account for "irregular trading activity"? For a trader to take a $100 account to hundreds of thousands, it will surely get the brokers attention, and if they don't freeze the account will they even let me withdraw so much money? ICM is supposed to be a good broker, I just hope they don't screw around...
ICM is a good broker , they will do the transfer specially when they know that they are being judged in FF
but if you want to have "0" risk in this regards then switch brokers every now and then .
other trick is to open another two different accounts with them ( ctrader , standard )
What goes up will come down...
  • #172
  • Feb 19, 2020 10:29am Feb 19, 2020 10:29am
Quoting mrdfx
One of my concerns with this challenge is about the broker and if they will let me complete it? I mean if everything goes fine and when I get to the later months when the compounding really kicks in, will the broker let me keep trading or freeze my account for "irregular trading activity"? For a trader to take a $100 account to hundreds of thousands, it will surely get the brokers attention, and if they don't freeze the account will they even let me withdraw so much money? ICM is supposed to be a good broker, I just hope they don't screw around...
Agree with your point.. maybe withdraw what you want from doing it?
  • #173
  • Feb 19, 2020 2:21pm Feb 19, 2020 2:21pm
Quoting mrdfx
One of my concerns with this challenge is about the broker and if they will let me complete it? I mean if everything goes fine and when I get to the later months when the compounding really kicks in, will the broker let me keep trading or freeze my account for "irregular trading activity"? For a trader to take a $100 account to hundreds of thousands, it will surely get the brokers attention, and if they don't freeze the account will they even let me withdraw so much money? ICM is supposed to be a good broker, I just hope they don't screw around...
Hi
I warned you a week ago in post 152 that your intention smacks of wishful thinking
and suggested futures micro
with say amp europe
this broker has a lot of negative reviews but icm is much worse
I ll send you PM with my take of this idea

regards and best of luck in trading
  • #174
  • Feb 19, 2020 6:40pm Feb 19, 2020 6:40pm
Quoting mrdfx
One of my concerns with this challenge is about the broker and if they will let me complete it? I mean if everything goes fine and when I get to the later months when the compounding really kicks in, will the broker let me keep trading or freeze my account for "irregular trading activity"? For a trader to take a $100 account to hundreds of thousands, it will surely get the brokers attention, and if they don't freeze the account will they even let me withdraw so much money? ICM is supposed to be a good broker, I just hope they don't screw around...
Go look at Aussi's thread and you will see he makes 10s of thousands week after week with IC markets without any troubles. And even if they decide to cancel your account, the 'reputable' brokers will atleast let you keep what you made up to that point.
  • #175
  • Feb 19, 2020 7:09pm Feb 19, 2020 7:09pm
Quoting mrdfx
One of my concerns with this challenge is about the broker and if they will let me complete it? I mean if everything goes fine and when I get to the later months when the compounding really kicks in, will the broker let me keep trading or freeze my account for "irregular trading activity"? For a trader to take a $100 account to hundreds of thousands, it will surely get the brokers attention, and if they don't freeze the account will they even let me withdraw so much money? ICM is supposed to be a good broker, I just hope they don't screw around...
This is like a "First World Problem". lol
  • #176
  • Feb 19, 2020 11:07pm Feb 19, 2020 11:07pm
Quoting 1qaz2wsx33
{quote} Go look at Aussi's thread and you will see he makes 10s of thousands week after week with IC markets without any troubles. And even if they decide to cancel your account, the 'reputable' brokers will atleast let you keep what you made up to that point.
i mean, ICMarket is OK, and all...
but while you are looking at the named thread, it would worth to look a little closer what is presented.
spoiler: no issue of making a million of demo dollars.

lets just say, that the larger the account gets, progressively more issues can /will! surface. traders with consistently high volumes are brokers dream, as long as they are in their A-book, and the profit isnt come from the broker's pocket. but they are running a mostly B book operation (hybrid, but isnt 50-50 between the books!), and when your gain is their loss, the little 'games' come up more often, testing your attention, and making you to spend increasing amount of time with support on related little issues costing you 100s a time, that inevitable will be deemed almost exclusively your faults. of course, it isnt an independent judge who rules in these issues, but the broker itself, and if they can get off the hook, they wont admit to anything, or pay up. and usually they can.

btw, not ICM, nor ASIC give assurance on your funds. zero. 'reputable' is faith that they dont make a mistake in their operation bucketshop from greediness, and keep a healthy hedge of client exposure across their books.


@mrdfx: i believe you are fine the least until the mid-5 digits...still a long way to cross that bridge. if ever get there, still time to deal with the rest.
there is always, always another trade!!
  • #177
  • Feb 19, 2020 11:52pm Feb 19, 2020 11:52pm
Quoting profitfarmer
{quote} i mean, ICMarket is OK, and all... but while you are looking at the named thread, it would worth to look a little closer what is presented. spoiler: no issue of making a million of demo dollars. lets just say, that the larger the account gets, progressively more issues can /will! surface. traders with consistently high volumes are brokers dream, as long as they are in their A-book, and the profit isnt come from the broker's pocket. but they are running a mostly B book operation (hybrid, but isnt 50-50 between the books!), and when your gain...
I'm sure by the time mrdfx gets a larger and larger account he will be in the A book, you yourself are saying that they will move profitable traders to A book, in which case they don't care if you win or lose, they just happily collect their commission.

And sure ASIC may not insure you for your money, but they do require brokers to keep client funds segregated, and to reconcile and report on those accounts. Yes that won't stop you losing money if they decide to be fraudulent, but then nothing would in that scenario. It is at least a lot more comfortable than dealing with an unregulated broker.
  • #178
  • Feb 20, 2020 6:10am Feb 20, 2020 6:10am
What the heck , sharing results as frequent as I can , mind you it's a cent acct
first hour done
Attached Image
What goes up will come down...
  • #179
  • Feb 20, 2020 7:33am Feb 20, 2020 7:33am
Took an opportunity to sell on a small pullback after the LO push. +4.5% added.
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Truth is like poetry. And most people f*cking hate poetry.
  • #180
  • Feb 20, 2020 7:10pm Feb 20, 2020 7:10pm
Quoting mrdfx
FEBRUARY COMPLETED! Today I completed the 2nd month successfully achieving +300% and I still have a 8 days left to spare I'll now move onto the next month of March, and for the rest if the month I'll only trade IF I see some good opportunities. This month has been another personal learning experience for me as I made some hasty decisions which put me in some unneeded situations of DD although I did recover and make a profit. Having patience has been the biggest learning curve for me, and I need to work more...

Wow, great sample for me! Thanks for the sharing so I get some ideas to furnish my journey. All the best mate!
Towards being the BEST Version of me. Ameeen
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