The 90 Day Fulltime Challenge
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Why a 90 day challenge?
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As of right now, I am available to trade full time for the next 90 days straight.
The Purpose of this challenge is to take on the role of a fulltime trader and see how well i can do trading for the next 3 months with my small micro account on an intraday basis.
Also, 90 days allows more than enough time to develop good solid habits both with my mindset and with my method.
Will I make money?
I don’t know and I don’t care because the whole focus of this is to develop my attitude, mindset and thought process strategically by putting myself on the line.
THIS is the ultimate challenge, and I am willing and humble enough to share it publically. Will I get criticized? I don't care.
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What are the goals?
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1)Trade from 9am - 5pm GMT (all London + NY sessions)
2)Become responsible and accountable as I track and share every trade taken daily.
3)Obtain enough statistical relevance on the method in use with real money on the line.
4)Build-Break-Build my thoughts, emotions & habits with help and advice of the FF full-timers.
5)Learn-Share-Grow with other members here. Give back where possible.
6) Identify my real strengths and weaknesses and use them to my advantage.
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The holy grail:
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I believe in our mindset and thought process as being the elusive holy grail.
With that being said, this is my focus;
To develop my mindset with a small live account and a simple solid proven method.
Nothing more...Nothing less.
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The “mental” challenges:
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We are NOT our emotions. Emotions are an illusion created by our ego.
Even though I am fully aware of this, it does not mean I still encounter these “emotional challenges”.
However, I truly believe we are all born successful and the only way to let our “in-built” success rise is to become aware of our thoughts, emotions and reactions to these.
No matter what you decide to do with your life, be it become a pro trader or take any other route, you MUST understand that life is uncertain.
We CANNOT physically nor mentally control any external outcome. So the only thing left is to control our SELF.
I wholeheartedly believe in becoming a master of yourself and I urge YOU to do the exact same thing.
Become a master of your SELF, and with hard work and determination, you WILL achieve whatever you want in life.
Anyways, these are some of the challenges I am aware I could end up experimenting:
-Overtrading.
-Anxiety.
-Discomfort.
-Stress.
-Euphoria.
-Lack of faith.
-Overconfidence.
-And many more I will be tracking and learning to manage.
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The 90 Day Challenge Process:
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1)I will post every trade taken during the day, along with correspondent pictures at the END of each trading session. Not during a trading session. This will include:
-Entries and exits.
-Risk and reward (be it an income or an expense I experience) in pips.
2)My thought process and the emotions I experience:
-When entering the market.
-During the trade development.
-At the end of the trade.
3)The lessons I learn:
-From the markets.
-From myself.
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The FF members I am grateful to:
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I would now like to thank the following people for helping me directly or indirectly in my continual “educational discovery”.
(There will also be many more members I will be grateful to as time goes past).
The following are the people and comments that really stand out to me:
Custos.- For his helpfulness and open mindedness. Always there when you need something answered:
“Take a few hundred setups and you will grasp what works and then develop your own discretion”
Nightmoves.- Very helpful member and great trader:
“Be patient. You don’t need many trades to make consistent money”
Sho.- Awesome trader and great person. Very helpful member aswell:
“Markets move in trends. Trends move in waves. Impulsive and Corrective waves. Trade the impulsive moves. Follow the money.”
Stratman.- Very good trader and helpful member:
“Enter a trade in the direction of the trend when a pull-back is complete”.
RyanMcd.- Haven’t met him but his words are full of wisdom:
“If your mind screws things up no method or system will work for you”.
NOTE: These are comments that have stuck with me, be it the exact words or not is another matter. Thank you all and may the pips be with you!
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PS: I have attached a pdf with the method im using.
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As you can see, I left this to last simply because the REAL system is within me... and you aswell. YOU are the system.
This does not mean however that I still subconsciously look for the perfect system. Im still learning and growing.
Yet becoming aware of this, admitting to it and then "working on it" is the first step.
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The challenge starts: Monday 27th September 2010.
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