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Grow that account! (£100 - £50k)

  • #61
  • Mar 4, 2022 6:39am Mar 4, 2022 6:39am
Quoting Mitiblotch
Just went long EC at 4010. TP 4185 (I can jump out earlier). SL 3950. {image} Logic chart: {image}
Price below the yellow line. Not good for my long!
  • #62
  • Mar 4, 2022 7:53am Mar 4, 2022 7:53am
Quoting Mitiblotch
Just went long EC at 4010. TP 4185 (I can jump out earlier). SL 3950. {image} Logic chart: {image}
First loss. Panic everywhere and everything crashing. Usually that setup is one of the best, but with this war we have to be careful. On to the next trade.
  • #63
  • Mar 4, 2022 11:39am Mar 4, 2022 11:39am
Quoting Mitiblotch
{quote} First loss. Panic everywhere and everything crashing. Usually that setup is one of the best, but with this war we have to be careful. On to the next trade.
As I've seen you doing this, I am doing something similar but from £10 with 500:1

I'm currently on just under £50 (started monday) - missed the EU moves today and was unsure whether to get in as I didn't find a setup that I liked that matches my criteria.

Annoyingly, I was in 2 sell positions from that big bear move last night but I closed out early thinking it would retrace... Had I have left them to run I reckon I'd have been on £100 lol.

Keep doing what you're doing, it's exciting. I've been trading extremely mechanical at the moment and I prefer it - zero emotion and I'll feel nothing if I get this up to 50k etc.
You can lead a horse to water, but you can't make it drink
  • #64
  • Mar 4, 2022 11:12pm Mar 4, 2022 11:12pm
Quoting sbmortimer
Hi Mitiblotch, what is the name of the indicator at the bottom of your chart? {quote}
It's a volume profile indicator from tradingview. I cannot remember the exact name, as there are many volume profile indicators there, and my computer is at the office. I will get the name and send to you on Monday.
  • #65
  • Mar 5, 2022 1:35am Mar 5, 2022 1:35am
Quoting Mitiblotch
Just went long EC at 4010. TP 4185 (I can jump out earlier). SL 3950. {image} Logic chart: {image}

Hi! So cool to see you doing this challenge, i'll be cheering you on. Subscribed!

By the way, which indicator are you using on the right side of that chart? I also use Tradingview.
Trying my best.
  • #66
  • Mar 7, 2022 1:32am Mar 7, 2022 1:32am
So by Friday I had an equity of 118.29.

Just went long GU at 3222. SL 3140. TP 3350.

Today's direction should be up all day, and I hope it will be helped by some good news from Ukraine. If such happens then good spikes may come. However, even without good news I think today should be an up day.
  • #67
  • Mar 7, 2022 3:00am Mar 7, 2022 3:00am
Quoting Mitiblotch
So by Friday I had an equity of 118.29. Just went long GU at 3222. SL 3140. TP 3350. Today's direction should be up all day, and I hope it will be helped by some good news from Ukraine. If such happens then good spikes may come. However, even without good news I think today should be an up day.
Bears are coming for my SL. Oh dear! Lol
  • #68
  • Mar 7, 2022 6:43am Mar 7, 2022 6:43am
Thanks! I checked TradingView's indicators but couldn't find one that matched the one at the bottom of your chart.

Quoting Mitiblotch
{quote} It's a volume profile indicator from tradingview. I cannot remember the exact name, as there are many volume profile indicators there, and my computer is at the office. I will get the name and send to you on Monday.
Funded trader
  • #69
  • Mar 7, 2022 11:07am Mar 7, 2022 11:07am
Here is a little summary of my progress so far for anyone interested.

This was my old account which I don't use so that is why I decided to do this challenge with what was there... £12 I think.

Has been a blast and feels weird having such a small account but shes growing slowly.

Will up the lot size when at £100

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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You can lead a horse to water, but you can't make it drink
  • #70
  • Mar 8, 2022 1:22am Mar 8, 2022 1:22am
Quoting Mitiblotch
So by Friday I had an equity of 118.29. Just went long GU at 3222. SL 3140. TP 3350. Today's direction should be up all day, and I hope it will be helped by some good news from Ukraine. If such happens then good spikes may come. However, even without good news I think today should be an up day.
I am not willing to let this trade go. I hedged it. Looking at the weekly chart, it appears bulls are doomed for a while. 2670 area can happen. So holding my short hedges while I trade other things in between.
  • #71
  • Mar 9, 2022 5:24am Mar 9, 2022 5:24am
Quoting Mitiblotch
{quote} I am not willing to let this trade go. I hedged it. Looking at the weekly chart, it appears bulls are doomed for a while. 2670 area can happen. So holding my short hedges while I trade other things in between.
still holding my buys. released the hedges; some of them. I am happy a morning star is forming on the daily chart and will be so if today closes as a bull bar. If so I expect higher prices. 3250 minimum. I survived the bear assault.
Attached Image (click to enlarge)
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For moondoggie and sbmortimer who asked about the indicators, I have made them visible on the chart. Please check on trading view. I cannot remember the names. Please see the names/ settings in the chart and search on tradingview. The one on the main chart is market profile, while the one under is volume profile.
  • #72
  • Mar 9, 2022 5:32am Mar 9, 2022 5:32am
Quoting xkwisit2001
Here is a little summary of my progress so far for anyone interested. This was my old account which I don't use so that is why I decided to do this challenge with what was there... £12 I think. Has been a blast and feels weird having such a small account but shes growing slowly. Will up the lot size when at £100 {image}{image}
You are doing well... your broker must be angry. Lol...
  • #73
  • Mar 9, 2022 5:46am Mar 9, 2022 5:46am
Good Luck

from my experience i can say a few things

1 - sometimes we get into very good trades but the market on the short term things differently so of course stops will take you out but on the long term discipline will pay
2 - I've grow small accounts into bigger ones but if i can remember especially at the beginning i had to put more money until price went my way. and if you don't do it you will probably lose a lot of time. I've responded - with I don't know i know theoretically can be done but i didn't anytime i was very convinced that one trade will be green i waited but i cannot time the market so probably this is the hardest part. to eliminate as many trades as you can so the less "sure trades" pays off

3 - very hard to work with targets/ time. i have my own targets as a guide. am am about 35 days lagging my target. but i do not have to prove anything and i do not have to take money out. if i would it would be an enormous pressure on me. targets are high. but honestly after this start of the year i am glad i am positive on trading accounts. but having the pressure of having a very strict goal can get you killed. there are days when i say ok enough is enough i need to make money usually the next trade is the dumbest on the month and then i have to work for that trade either hedge or just take a loss that i need to make up

so my idea since it's a very hard thing to do. is maybe it's a little "easier" if you don't put any targets. not daily not weekly not monthly or you don't get into pressuring yourself because making this journey, and transparency and sometimes respond to dumb comments will get you because there is time invested.

anyway - again good luck. i will probably ask some questions about the process along the way.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #74
  • Mar 9, 2022 6:39am Mar 9, 2022 6:39am
Quoting DMA Trader
Good Luck from my experience i can say a few things 1 - sometimes we get into very good trades but the market on the short term things differently so of course stops will take you out but on the long term discipline will pay 2 - I've grow small accounts into bigger ones but if i can remember especially at the beginning i had to put more money until price went my way. and if you don't do it you will probably lose a lot of time. I've responded - with I don't know i know theoretically can be done but i didn't anytime i was very convinced that one trade...
Thanks a lot. An honor to have you here.

I have removed the pressure part. Interestingly I am not under pressure. I mentioned that even if I don't hit the target so long as the account equity is increased I would be happy. It isn't my main account so I am not emotionally attached to it. Theee past few days price has been interesting. But overall the account equity is still in the plus.

Yes, you are right about daily and weekly target. I am using them as a rough guide, but I am doing my thing. I don't even know what this week's target is according to the template I put up in the first post; I check at the end of the week. But when I start hitting sweet green patches maybe I will check daily to pat myself on the back. Lol...

Thanks again for stopping by. I will welcome your questions any day any time.
  • #75
  • Mar 9, 2022 7:10am Mar 9, 2022 7:10am
Quoting Mitiblotch
GROW THAT ACCOUNT -- MY £100 TO £50K CHALLENGE The main reason for this thread is to challenge myself to do something I haven't done before. I know it is possible because I have done smaller challenges before and completed them successfully. Now I want to take it a notch higher by growing a £100 account to a £50k account in 7 months. I can trade and I know it, but I want to add some level of accountability to my trades hence my making this journey public. Another reason for doing this is to inspire those out there who keep complaining that they...
Good luck Miti! You can make it!!
  • #76
  • Mar 9, 2022 12:51pm Mar 9, 2022 12:51pm
Quoting Boulder
{quote} Good luck Miti! You can make it!!
Wow! Another honour. Thanks a lot Boulder. Your support means a lot to me.
  • #77
  • Mar 9, 2022 5:57pm Mar 9, 2022 5:57pm
Quoting Mitiblotch
{quote} You are doing well... your broker must be angry. Lol...
Hardly but let's see what happens
You can lead a horse to water, but you can't make it drink
  • #78
  • Mar 10, 2022 3:36am Mar 10, 2022 3:36am
According to the poll attached to this thread, 8 in 10 traders believe that it is possible to transform $100 into $50k.
Risk Management is of utmost importance!
  • #79
  • Mar 10, 2022 10:05am Mar 10, 2022 10:05am
Today is the 9th trading day according to the template, and by today I should have £140.95. I currently have an equity of £144.37. So I am doing well. So far so good.
  • #80
  • Edited 8:26am Mar 11, 2022 12:34am | Edited 8:26am
Equity now £162.67.

I missed that dip on GU. I should have scalped it. Now let me try and see if it works out. Long GU at 3092. SL below the low of the day. TP 3113. 20 pips is enough for me. I hope I get it.
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