DislikedTechnical Analysis today: WTI {image}
Resistance: 52.00/54.50/57.00…
Support: 49.50/47.00
Trade idea: Go long at the support zones.Ignored
And...
Achieved Resistance 3 @57.00 so far...
1
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DislikedTechnical Analysis today: WTI {image}
Resistance: 52.00/54.50/57.00…
Support: 49.50/47.00
Trade idea: Go long at the support zones.Ignored
DislikedHey everyone, Interested in starting up an 80k challenge soon as ive finally ironed out a consistent strategy and passed an eval at a comparable firm. Would you guys mind sharing what your risk management plan is? Mine would likely be 0.5% max risk on any position and keep scaling back if i go on a losing streak. It basically gives me 8R at max risk but obviously if i take a loss i want to cut to 0.25% and then 0.10% etc etc until i start a new win streak.Ignored
Disliked{quote} Hey friends You can sign up for 3 different accounts. You can trade with any strategy you want!Ignored
Disliked{quote} Hello Gil, To clarify once again. Does this mean I can run the same EA on all 3 accounts where it will buy and sell and close at same prices? I did not understand it in your submission on the subject and the website just talks about having three accounts and not really if you should run different or same strategies. I am currently on my first aggressive account and 4% up. I have plans of having all 4 accounts. But I want to know if I can use one EA on all three accounts or each account has to have a different strategy running on it.Ignored
Disliked{quote} Hey michaframp We would always prefer to see different strategies, but if you open 3 different accounts and trade the same, we will not disqualify you. I wish you success!Ignored
DislikedHey everyone, Interested in starting up an 80k challenge soon as ive finally ironed out a consistent strategy and passed an eval at a comparable firm. Would you guys mind sharing what your risk management plan is? Mine would likely be 0.5% max risk on any position and keep scaling back if i go on a losing streak. It basically gives me 8R at max risk but obviously if i take a loss i want to cut to 0.25% and then 0.10% etc etc until i start a new win streak.Ignored
DislikedSwing trader Quincy advices how to pass The5ers program successfully. Quincy T. from the USA is now one of The5ers funded traders. https://www.youtube.com/watch?v=VGT5OFAcYekIgnored
Disliked{quote} I calculated the buying power of the 2 amounts given as per your instructional video. 1,280,000 1:6 7,680,000 Buying power 51,200 1:150 7,680,000 Buying power Your 1.28 million funding in a 1:6 leverage account has the same buying power of 51,200 in a 1:150 leverage account. Incidentally, $51,200 is what the usable amount is in a 1.28 million account. You've just dressed it sexy and put a bow on it. You maximized the look of generosity of doling out funds to the tune of 1.28 million while also basing an expectation of making a target profit...Ignored
Disliked{quote} Been awhile since I have posted on this buying power argument. I have come up with a very simple example which should clear it up for most: Let's say, for the sake of round numbers, I wish to make $10,000 per month trading forex. I have 3 options to chose from: A. Trade a 1,000,000 account with 1:1 leverage B. Trade a 100,000 account with 10:1 leverage or C. Trade a 10,000 account with 100:1 leverage In all 3 scenarios, we can all agree we will be trading a 10 lot position, lets say a xxx/USD pair for ease, so $100/pip Again, in all 3 scenarios...Ignored
Disliked{quote} Nice big effort you put into this but there is one flaw. You kept the traded size the same for all 3 cases: In all 3 scenarios, we can all agree we will be trading a 10 lot position Wrong. If I was trading these 3 accounts, maybe the first one would be a 10 lot position but the 2nd one would be a one lot and 3rd one a .1 lot. Or maybe the trde size would be variable as the conditions demand. That would give me room and flexibility to maneuver depending on the market conditions. Now lets take the smallest example you made and superimpose...Ignored
Disliked{quote} And your flaw is you wouldn't be able to make 10K per month with 100 pip profit. You must READ the first part of the post. The goal is 10K profit per month using one of the 3 scenarios. You see, the big flaw in all of your arguments, is the personal account, with all the "buying power", you must maximize that leverage to get the same profit. Once again, as always, you take the pro in your argument without the con and vice versa on everyone else's.Ignored
Disliked{quote} Alright, good on you trying to make 10% per month on your 10K account. Maybe that is why you have a beautiful wife to get excited about on Valentine's day and I don't. PS: I don't know if I am taking the pro in my Valentine's argument without the con and vice versa, but it's my statement and I am sticking with it. PSS: In my real account with a 1:500 leverage, I am actually making 10% per month for the past 6 months, so it is doable but with a 1:6, forget that performance.Ignored
Disliked{quote} Didn't say anything about 10% per month. I said a profit of 10K per month with 3 different scenarios. The bottom line is the more capital you have, the lower the leverage required to hit that goal. The fact is, the lower your leverage, the lower the risk of ruin. THAT CANNOT BE DEBATED. The more leverage you are using to make your 10% per month, as you say you are, the higher the risk of ruin. When presented in the way I have, you have no argument whatsoever.Ignored
Disliked{quote} OK, you win. however, I am making my 10%/mo with a 1:500 leverage quite comfortably without worrying about the risk of ruin. I think my average leverage used is about 1:15 or so. That is about a 3% use of the leverage. Just because the leverage is high, it doesn't mean one is going to max it out but with a 1:6 leverage, it is impossible to use 3% of the available leverage to make even a .01 trade, therefore, one has to use more of it. Wait, maybe just one .01 trade is all you can have open if .30 lots is the max trades you can have in a...Ignored