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$409k Challenge

  • #701
  • Jul 13, 2020 7:22am Jul 13, 2020 7:22am
Quoting DougKing
Good job mrdfx, I love this thread! it reminds me of the rags to riches approach. Have you thought about taking withdrawals later on or is the idea to let it ride until your goal of 409K?
Hi DougKing, thanks for passing by. I have thought about that and will most likely maybe take some small withdrawals along the way, probably only once the accounts hits 5 digits, and nothing to large to take me backwards too much.
Truth is like poetry. And most people f*cking hate poetry.
  • #702
  • Jul 13, 2020 9:58am Jul 13, 2020 9:58am
It was a strangely slow day today in the markets, but managed to add +4.3% to the account.

A profit is still a profit.
Attached Image (click to enlarge)
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Truth is like poetry. And most people f*cking hate poetry.
  • #703
  • Jul 13, 2020 4:51pm Jul 13, 2020 4:51pm
Quoting mrdfx
It was a strangely slow day today in the markets, but managed to add +4.3% to the account. A profit is still a profit. {image}
thx for idea, so I started today with $100, setup separate account for it. Will try 5% /day, when have time .
I guess it's easy while fund's are small.
Wonder what time frame you use ?
I got best result's on 1min EURUSD, using one solid indy, and couple of flippy floppy's. Manual trading !
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  • #705
  • Jul 14, 2020 7:37am Jul 14, 2020 7:37am
@Torsion21 you will see I disliked your post and there is a very simple reason for this. You clearly did not read this thread properly or you would not have written such a post nor you previous one which I also ignored intentionally.

When someone passes by and asks questions which has already been asked and answered previously I will ignore it as it means the person has not taken the time to read the thread (only 36 pages), and in this case I will not answer. In your case you really don't know what you talking about, I have explained a few times the way I trade and my MM approach, yet you still assume incorrectly.

My average trade pips is NOT 5.9 pips, its more than that, you forget to factor in the gold trades for which FF does not record the pip count. I'm not going to go on explaining myself as I really don't need to, and the other things you've mentioned I have already talked about previously.

This is will be my last time addressing this kind of post from you, you can either follow along or leave, this is my journal and I don't need to explain myself to anyone.
Truth is like poetry. And most people f*cking hate poetry.
  • #706
  • Jul 14, 2020 8:45am Jul 14, 2020 8:45am
Quoting Torsion21
@mrdfx As i look at your stat: Maximum drawdown = -69.6% Average trade pips = 5.9 *You dont use stop loss *You average losers If you always trade like this(no stop loss), its just a matter of time before a very big drawdown. You are lucky enough to survive few months doing this. To those asking what is his strategy, this is it: No stop loss + less than 10pips TP = High Win rate Dont get me wrong, i admire your equity curve, so beautiful. Im just worried you may lose all of your gains because you dont use stops.
What is difference when you have on account 1000usd and use Stop loss for example 9% (90 usd) or you split your capital and have on account 100usd and trade without SL? (stopout level on 10%). Lets say you 4 times in a row wipe out entire 100usd account. And then you make from 100usd 2000usd and cashout 1900usd. Just example. You split your capital and make cashout targets according to your skills.
  • #707
  • Jul 14, 2020 12:37pm Jul 14, 2020 12:37pm
I've updated post #1 with more info.

For the newcomers and passers by PLEASE READ the first post!
Truth is like poetry. And most people f*cking hate poetry.
  • #709
  • Jul 14, 2020 6:57pm Jul 14, 2020 6:57pm
Quoting mrdfx
I've updated post #1 with more info. For the newcomers and passers by PLEASE READ the first post!
I upgrade your 409k trade plan excel sheet. it became more useful, maybe you or another one want to use it.

here it is.

Attached File(s)
File Type: xlsx 409K Challenge Trade Plan.xlsx   14 KB | 480 downloads
  • #710
  • Jul 15, 2020 12:15am Jul 15, 2020 12:15am
Gotta join you guys again soon with a small wager
  • #711
  • Jul 15, 2020 10:59am Jul 15, 2020 10:59am
Thanks for the interessenting Thread. I startet the same challenge, based on an High-Leveraged Ichimoku System. First Day so far positiv. Keep up the good work.
  • #712
  • Jul 15, 2020 11:29am Jul 15, 2020 11:29am
Quoting KonradGER
Thanks for the interessenting Thread. I startet the same challenge, based on an High-Leveraged Ichimoku System. First Day so far positiv. Keep up the good work.
I think you have to post your results here everyday. Forex Factory TE or myfxbook - otherwise we don't believe you
  • #713
  • Jul 15, 2020 12:08pm Jul 15, 2020 12:08pm
Yes, this is the screenshot of my account today. You might be able to see it also when you click on my account. I'm sorry, I'm new on the plattform.
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  • #714
  • Jul 15, 2020 12:14pm Jul 15, 2020 12:14pm
Quoting P.Action
{quote} I upgrade your 409k trade plan excel sheet. it became more useful, maybe you or another one want to use it. here it is. {file}
Awesome thanks for your contribution P.Action, I'll add it to the first post.
Truth is like poetry. And most people f*cking hate poetry.
  • #715
  • Jul 15, 2020 12:14pm Jul 15, 2020 12:14pm
Quoting KonradGER
Thanks for the interessenting Thread. I startet the same challenge, based on an High-Leveraged Ichimoku System. First Day so far positiv. Keep up the good work.
Welcome KonradGER, and good luck with the challenge!
Truth is like poetry. And most people f*cking hate poetry.
  • #716
  • Jul 15, 2020 12:20pm Jul 15, 2020 12:20pm
Didn't trade today, but I did have some sell orders on EJ carried over from yesterday closed today for +6.6%.

I'm not sure why the TE says +22% it was no where near that, but anyway I've now reached halfway on month 5 and getting closer to half way in the challenge.
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Truth is like poetry. And most people f*cking hate poetry.
  • #717
  • Jul 15, 2020 12:30pm Jul 15, 2020 12:30pm
Reached 330% in 5 days then wiped out (see my TE). Using averaging to get out of losing trades. It's risky when a strong move and no retrace. So decided to try this:

1 account for BUY and 2nd account for SELL signals only (1 symbol GBPUSD)

The choppy market conditions are ideal for averaging. In the case of a strong move (40 pips without 10 pips retrace) and wrong entry, I will lose 1 account and keep another with profits. Then will recharge loser and continue.

Today made 70% on BUY account and 50% on SELL account.

Thinking how to do best... cashout all profits every day in the wallet... reach some X capital then enlarge SELL and BUY accounts init capital and deal volume... Or keep all capital on working accounts (just make equal both accounts every new day and so scale)... ?

tnx mrdfx for inspiration!
  • #718
  • Edited 3:41pm Jul 15, 2020 3:22pm | Edited 3:41pm
Quoting mrdfx
{quote} Awesome thanks for your contribution P.Action, I'll add it to the first post.

you are wellcome.

i do my all tradings according to my own excel worksheet. this one is so easy. it is simple and convenient.

one reminder for that excel sheet. we calculate lot size according to usd based currencies. you must calculate other pairs. pip value is different as we know.

example
if our lot size is constant and for 100$ in first month
if we trade eurusd, lot size will be 0.05 lot and 10 pips (right side is usd)
if we trade euraud, lot size will be 0.05 lot and 14 pips (right side is aud so pip target divided by audusd=0.7)


if our pip target is constant and for 100$ in first month
if we trade eurusd, lot size will be 0.05 lot and 10 pips (right side is usd)
if we trade euraud, lot size will be 0.07 lot and 10 pips (right side is aud so lot size divided by audusd=0.7)

and it is not including stop loss it is based only profit.

P.S. that excel sheet is protected except yellow boxes those data you have to enter. if you want to change anything click review tab and click unprotect sheet. after that you could change every cell.
  • #719
  • Jul 16, 2020 3:19am Jul 16, 2020 3:19am
Well I funded a $50 account and lets see if I can give a proper go this time. Got up to $700 before losing my head last time but this time will try to remain disciplined!!
  • #720
  • Jul 16, 2020 5:24am Jul 16, 2020 5:24am
Quoting mrdfx
{quote} Here. Like I've said before I only use the TMA as a visual reference of what price is doing that's it, the rest is my eyes. {image}
Hello, Very nice thread and the EA. I have placed it my mt4 and started it.

can you please share the indicator of the image if you dont mind

thanks 7 regards
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