$409k Challenge Part 2 | Page 4 | Forex Factory

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$409k Challenge Part 2

  • #61
  • Jan 26, 2021 5:50am Jan 26, 2021 5:50am
USD softening ahead of NY session, let's see what happens.

EUR/AUD's movement has been pretty good so far, I was looking to go long on it earlier but did not due to looking at gold. It moved up but retraced at the moment.
  • #62
  • Jan 26, 2021 6:01am Jan 26, 2021 6:01am
Quoting kCBHk
{quote} I am on MT5 and this site doesn't allow for MT5 to be loaded. Can I journal here as well? I find this intriguing and actually set aside another account to go on this challenge...let me know if I have to have a TE. I started this challenge with a SGD 3,000 account (roughly USD 2,200). I'm on GMT+8 so my dates could be a little different from you guys. Day 1, 25 January 2021: 1 trade, shorted XAU/USD at 1862.99, closed at 1849.99. Profit for the day SGD 1,727.60. 57% gain, done for the day. Of course I'm not expecting such great results everyday....
Yes FF does not allow MT5 for TE. You can join in for sure.

If you have myfxbook you can always post a screenshot no and again.
Truth is like poetry. And most people f*cking hate poetry.
  • #63
  • Jan 26, 2021 6:05am Jan 26, 2021 6:05am
Quoting ellokko007
{quote} old price action... the skill that i need to improve Would you mind telling us which version of tma do you use? also what period? I'm looking for a visual indicator to help me...
I shared the TMA I use in the previous $409k thread.

https://www.forexfactory.com/thread/...5#post12709225
Truth is like poetry. And most people f*cking hate poetry.
  • #64
  • Jan 26, 2021 6:40am Jan 26, 2021 6:40am
First of all best of luck to Mrdfx on the journey vol.2 It is really inspirational one for beginners like myself!

I have tried one TMA indicator, which is very flexible, maybe someone finds it helpful in their trading decisions.

https://www.forexfactory.com/thread/...6#post13287176

While I found the TMA helpful, I also found it sometimes confusing as on the lower TFs, there is heavy repainting effects, which you can't avoid. But it is as a guidance and not definitive tool for market entry.
  • #65
  • Jan 26, 2021 8:32am Jan 26, 2021 8:32am
Quick scalp on Gold. Raised my risk to 3% as I'm feeling slowly more confident. +25 pips. Done for the day.
Attached Image (click to enlarge)
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  • #66
  • Jan 26, 2021 11:52am Jan 26, 2021 11:52am
Nice stuff you’ve got going! But your balance is already at $210. Does it mean you won’t trade till next month according to the spreadsheet?
  • #67
  • Jan 26, 2021 12:21pm Jan 26, 2021 12:21pm
Quoting mrdfx
{quote} I shared the TMA I use in the previous $409k thread. https://www.forexfactory.com/thread/...5#post12709225
Thanks i will take a look.
  • #68
  • Jan 26, 2021 3:24pm Jan 26, 2021 3:24pm
Nice.... i am doing something similar as well on my casino account(micro accounts for fun)....... I am targetting 20% weekly.....
Extreme gut feeling trader
  • #69
  • Jan 26, 2021 4:59pm Jan 26, 2021 4:59pm
Quoting mrdfx
{quote} Yes FF does not allow MT5 for TE. You can join in for sure. If you have myfxbook you can always post a screenshot no and again.
Maybe over the weekend I would load up something. Would rather trade.
  • #70
  • Jan 26, 2021 5:03pm Jan 26, 2021 5:03pm
Day 3, 27 January 2021.

Dozed off after a hearty dinner yesterday, in midst of watching Gold. Woke up at 5am (2 hours before this post), had a mini panic, thought I might had missed something, but seems like nothing happened. The range was respected. Nothing is likely to happen much for the next 2 hours, so I'm just gonna chill. I'm still looking for confirmation of a big USD rally, but we have FOMC looming, so I might be giving USD pairs a miss today.
  • #71
  • Jan 27, 2021 4:44am Jan 27, 2021 4:44am
Quoting kCBHk
Day 3, 27 January 2021. Dozed off after a hearty dinner yesterday, in midst of watching Gold. Woke up at 5am (2 hours before this post), had a mini panic, thought I might had missed something, but seems like nothing happened. The range was respected. Nothing is likely to happen much for the next 2 hours, so I'm just gonna chill. I'm still looking for confirmation of a big USD rally, but we have FOMC looming, so I might be giving USD pairs a miss today.
Day 3, 27 January 2021, continued.

It's hard to trade today, I think market is waiting on FOMC. Gold's range remains stuck, although we push down to 1843. However, the low of the week is lower than 1843, so this does not confirm the bearish bias.

Took a quick scalp, buy, from 1845.13 to 1847.08 (was gunning for $2 TP, broker slipped but still reasonable slipped I guess), profited $258.53. 5.09% achieved for the day.

Sidelines for now.

Current balance: $5336.82, up 77% in 3 days.

Hopefully we see more volatility during NY session.
  • #72
  • Edited 9:26am Jan 27, 2021 9:15am | Edited 9:26am
Quoting kCBHk
{quote} Day 3, 27 January 2021, continued. It's hard to trade today, I think market is waiting on FOMC. Gold's range remains stuck, although we push down to 1843. However, the low of the week is lower than 1843, so this does not confirm the bearish bias. Took a quick scalp, buy, from 1845.13 to 1847.08 (was gunning for $2 TP, broker slipped but still reasonable slipped I guess), profited $258.53. 5.09% achieved for the day. Sidelines for now. Current balance: $5336.82, up 77% in 3 days. Hopefully we see more volatility during NY session.
Day 3, 27 January 2021, continued.

Although my overall bearish bias on gold proved correct, I continue my play on buying gold on extended dips ahead of FOMC, but this was a risky trade. Bought at 1843.35 after the strong bounce at 30s (late entry, that green candle really shot up), closed at 1846.39. $3 quick scalp, profit of $404.21. 13% for the day. A new day begins in 46 minutes, let's see what happens. Really kicking myself for not buying at 30s; my initial plan was to buy at 28, which was the support a few weeks back. Sometimes, when you hesitate, you really end up masturbating.

The ability by gold bulls to recover 1840 should worry gold bears.

Account is up 91% after 3 days, I hope FOMC will give me good moves so that I can hit 100% early into Day 4. GLTA.
  • #73
  • Jan 27, 2021 1:04pm Jan 27, 2021 1:04pm
Not much movement, maybe press conference brings more.
  • #74
  • Edited 3:49pm Jan 27, 2021 3:14pm | Edited 3:49pm
Day 4, 28 Jan 2021.

FOMC was very peaceful and nothing much happened. Account balance at $5741.03. Going by this challenge, my target for today (of 5%) would be $287.06.

Gold bulls will want to keep gold above 1840 and push past 1850. Gold bears will want to press gold below 1840 and past 1830. Let's see.

EDIT: Did a quick buy scalp and netted a quick $152.83. Triple swap Wednesday, so not gonna hold. Hopefully I can hit 100% tomorrow. Currently at 96% mark.
  • #75
  • Jan 27, 2021 8:14pm Jan 27, 2021 8:14pm
I too am doing some thing similar for fun..Target 20 pips per day and I am up to level 51....Helps to prevent boredom
Attached Image (click to enlarge)
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Ronnie Renko
  • #76
  • Jan 27, 2021 8:29pm Jan 27, 2021 8:29pm
Quoting kCBHk
Day 4, 28 Jan 2021. FOMC was very peaceful and nothing much happened. Account balance at $5741.03. Going by this challenge, my target for today (of 5%) would be $287.06. Gold bulls will want to keep gold above 1840 and push past 1850. Gold bears will want to press gold below 1840 and past 1830. Let's see. EDIT: Did a quick buy scalp and netted a quick $152.83. Triple swap Wednesday, so not gonna hold. Hopefully I can hit 100% tomorrow. Currently at 96% mark.
Good morning...thank God I closed my buys...

Still have some money to make for the day...still in the hunt!
  • #77
  • Jan 28, 2021 2:15am Jan 28, 2021 2:15am
Day 4, 28 January 2021, continued.

Buy from 1835.84 to 1840.Profit $555.41. 12.33% for the day. 115% overall.
  • #78
  • Jan 28, 2021 2:40am Jan 28, 2021 2:40am
Quoting mrdfx
{quote} Yes FF does not allow MT5 for TE. You can join in for sure. If you have myfxbook you can always post a screenshot no and again.
https://www.fxblue.com/users/kcbhk

I loaded it up on fxblue.
  • #79
  • Jan 28, 2021 8:22am Jan 28, 2021 8:22am
Quoting Ced74
I too am doing some thing similar for fun..Target 20 pips per day and I am up to level 51....Helps to prevent boredom {image}
Your charts are always so colorful Ced74, love looking at them.
Truth is like poetry. And most people f*cking hate poetry.
  • #80
  • Jan 28, 2021 8:23am Jan 28, 2021 8:23am
Quoting kCBHk
{quote} Good morning...thank God I closed my buys... Still have some money to make for the day...still in the hunt!
Shouldn't have closed your buys.
Truth is like poetry. And most people f*cking hate poetry.
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