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$409k Challenge

  • #381
  • Apr 2, 2020 11:24am Apr 2, 2020 11:24am
Quoting Mtinifx
Yes me too! May I respectfully request that people who post on this thread be in on the challenge. Thanks 22% up - could have been and should have been much better. But there's always tomorrow! {image}
Hmmm surely I should be the one who says who posts in my thread?

Anyone can post in the thread providing its constructive, respectful, and related to the challenge.
Truth is like poetry. And most people f*cking hate poetry.
  • #382
  • Apr 2, 2020 12:29pm Apr 2, 2020 12:29pm
Quoting mrdfx
{quote} Hmmm surely I should be the one who says who posts in my thread? Anyone can post in the thread providing its constructive, respectful, and related to the challenge.
OK But I thought the whole idea is a $409k challenge - people are posting charts but not involved! But it is your thread

What happened to your TE ?
  • #383
  • Apr 3, 2020 4:49am Apr 3, 2020 4:49am
Third week of my new challenge …
Yesterday New York session allowed to get few more pips..
This morning couldn’t participate as problems with internet and data feed was awful, just was watching nice drop on EURUSD and GPBUSD … few tries luckily closed with no loss, practically on BE…

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I am giving up trading today …
Number mistakes has been done last three weeks, will be not easy to erase them in the future as are anchored in my mind…
It is funny thing but trying to be a scalper STILL you have to sit on your hands…

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Have nice weekend fellows ...
BN
  • #384
  • Apr 3, 2020 6:11am Apr 3, 2020 6:11am
Quoting BlackNapkins
Third week of my new challenge … Yesterday New York session allowed to get few more pips.. This morning couldn’t participate as problems with internet and data feed was awful, just was watching nice drop on EURUSD and GPBUSD … few tries luckily closed with no loss, practically on BE… {image} I am giving up trading today … Number mistakes has been done last three weeks, will be not easy to erase them in the future as are anchored in my mind… It is funny thing but trying to be a scalper STILL you have to sit on your hands… {image} Have nice weekend...
I am not trading today also,markets are just waiting for NFP so will start fresh Monday....Even next week is easter i guess there will be a few setups....Have a good weekend everybody...
Insanityoing same ting over expecting different results..Einstein
  • #385
  • Apr 3, 2020 6:21am Apr 3, 2020 6:21am
Hi guys
Thanks and a great weekend to all. I'm break even after a mixed morning
I am trading NFP might pick up a few pips - one never knows!

Will post results later - hoping for 30% up - can only try
  • #386
  • Edited 8:33am Apr 3, 2020 8:09am | Edited 8:33am
Quoting Mtinifx
Hi guys Thanks and a great weekend to all. I'm break even after a mixed morning I am trading NFP might pick up a few pips - one never knows! Will post results later - hoping for 30% up - can only try
Made it thanks to NFP!
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  • #387
  • Apr 3, 2020 9:17am Apr 3, 2020 9:17am
I'm up to the challenge too, starting on Monday!
  • #388
  • Apr 3, 2020 9:25am Apr 3, 2020 9:25am
Quoting ING.WIZARD
I'm up to the challenge too, starting on Monday!
That's great. I must say I find it helpful to be part of a group with the same goal


  • #389
  • Edited 10:51am Apr 3, 2020 10:37am | Edited 10:51am
Quoting Mtinifx
{quote} That's great. I must say I find it helpful to be part of a group with the same goal
Hehe.....I took one trade on GU for 2 pips to have another day positive....feel like cheeting,but a win is a win right...lol...Two small possisions and if i hadnt closed so fast it would given me 15-20 pips...


PM....When i look at your Myfxbook Mtinifx it looks like you have been up almost 400% on your equity if so why didnt you close when up that much???
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Insanityoing same ting over expecting different results..Einstein
  • #390
  • Apr 3, 2020 11:06am Apr 3, 2020 11:06am
Quoting FXsniper111
{quote} Hehe.....I took one trade on GU for 2 pips to have another day positive....feel like cheeting,but a win is a win right...lol...Two small possisions and if i hadnt closed so fast it would given me 15-20 pips... PM....When i look at your Myfxbook Mtinifx it looks like you have been up almost 400% on your equity if so why didnt you close when up that much??? {image}
So when not trading taking a longer nap i missed two bearish trades of the Romar GU and 3 on GJ of the pivot typical i have added the GU also so i trade 3 pairs now...
Attached Images
Insanityoing same ting over expecting different results..Einstein
  • #391
  • Apr 3, 2020 11:30am Apr 3, 2020 11:30am
Thinking about to join the journey, started something similar last year, started back then with 20, let it grown to 100, from there I started every Monday with 100, if I lost it I was done for the week, did this for 8 weeks where I lost 1 week so 100....it was time to scale up to 200 risk a week and so on till 500 risk a week.... Now I am still at 500 but my it's only 1/10th off my total I made with it.... It gets more scary when the trading sizes get bigger,... But maybe I can do it again, will have a think about it because it's more fun with a few people together...
  • #392
  • Apr 3, 2020 11:37am Apr 3, 2020 11:37am
Quoting FXsniper111
{quote} So when not trading taking a longer nap i missed two bearish trades of the Romar GU and 3 on GJ of the pivot typical i have added the GU also so i trade 3 pairs now... {image} {image}
A positive result no matter how small is better then losing

I don't know where that equity graph comes from - never been up that much!
  • #393
  • Apr 3, 2020 11:43am Apr 3, 2020 11:43am
Quoting Patje
Thinking about to join the journey, started something similar last year, started back then with 20, let it grown to 100, from there I started every Monday with 100, if I lost it I was done for the week, did this for 8 weeks where I lost 1 week so 100....it was time to scale up to 200 risk a week and so on till 500 risk a week.... Now I am still at 500 but my it's only 1/10th off my total I made with it.... It gets more scary when the trading sizes get bigger,... But maybe I can do it again, will have a think about it because it's more fun with a...
Give it a go Patje - we're with you 100%!

You know it all comes down to position sizing and many people don't realise that you need at least $1000 balance to trade one mini lot ($1 a pip).
I am trading one or two micro lots only - might go to three micro lots if I'm feeling very confident about a trade but that is rare!
  • #394
  • Apr 4, 2020 12:35pm Apr 4, 2020 12:35pm
We’re still doing this? I was thinking of joining, anybody had success so far?
  • #395
  • Apr 5, 2020 5:26am Apr 5, 2020 5:26am
Start with 10 USD, every week target 20%, after 56 weeks ~45000 USD

This doing 10 traders individually each with 10 USD starting capital. Each makes 9 parallel accounts and sets them to copy other 9 traders (without commissions - for example using RoboForex FXCopy feature, with invitations only).

So if all 10 traders fail - everybody loses 100 USD.

But if at least 1 trader succeeds - everyone gets 45000 USD.

what do you think?
  • #396
  • Apr 5, 2020 6:44am Apr 5, 2020 6:44am
Quoting joyny
Start with 10 USD, every week target 20%, after 56 weeks ~45000 USD This doing 10 traders individually each with 10 USD starting capital. Each makes 9 parallel accounts and sets them to copy other 9 traders (without commissions - for example using RoboForex FXCopy feature, with invitations only). So if all 10 traders fail - everybody loses 100 USD. But if at least 1 trader succeeds - everyone gets 45000 USD. what do you think?
Interesting idea, only not sure if we should limit ourselves to a certain amount of %. As long as we close every day/week in profit it will take us somewhere
  • #397
  • Apr 5, 2020 7:00am Apr 5, 2020 7:00am
So, it's impossible to scalp gold at the moment, and orange began to tweet about fake oils deal so the oil market is unstable to trade now.
For now i continue doing this challenge using only 0.01, i got the the time and patience. My trade is now opened 1610, my tp is 1641, gold is going to test year high again. Let's see how big the gap is.
Good luck
  • #398
  • Apr 5, 2020 7:20am Apr 5, 2020 7:20am
Quoting Patje
{quote} Interesting idea, only not sure if we should limit ourselves to a certain amount of %. As long as we close every day/week in profit it will take us somewhere
Like i said earlier i try to take 5% a day,but i limit myself if i dont feel the market....Also it gets harder as account size grows because i have to gain more pips ore increase lotsize so i agree Patje try to keep everyday positive and strech the daily goal when feel the markets and stop if dont..


PM;When i started with 200 dollars 5% where 10 dollars and now almost 500 dollar account its 25 dollars/5% a huge difference,but need to keep grinding on...lol
Insanityoing same ting over expecting different results..Einstein
  • #399
  • Apr 5, 2020 7:33am Apr 5, 2020 7:33am
Quoting FXsniper111
{quote} Like i said earlier i try to take 5% a day,but i limit myself if i dont feel the market....Also it gets harder as account size grows because i have to gain more pips ore increase lotsize so i agree Patje try to keep everyday positive and strech the daily goal when feel the markets and stop if dont.. PM;When i started with 200 dollars 5% where 10 dollars and now almost 500 dollar account its 25 dollars/5% a huge difference,but need to keep grinding on...lol
This is the same thing, the problem is the stress and the psychology, if u can control your mind there is no difference between 200 and 2,000.
  • #400
  • Apr 5, 2020 9:23am Apr 5, 2020 9:23am
Quoting power0912
{quote} This is the same thing, the problem is the stress and the psychology, if u can control your mind there is no difference between 200 and 2,000.
So true. The mental side is the problem with me as it is with so many. If one can automate one's trading then it could be the way to go if stress/emotion is greatly hindering profitability. The other option must be to set a BE stop loss as soon the trade is reasonably in profit especially if one has caught a fast move up or down. One is going to get taken out much of the time but occasionally it is not going to come back but it will keep going for 50, 100 pips or more. If one can bank 2 or 3 trades like that in a week one is not going to look back.
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