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$10 account challenge all the way up to $100,000 by Forexer

  • #41
  • Jun 2, 2022 1:28pm Jun 2, 2022 1:28pm
Quoting forexer
4- Average daily return is 20% return.
A six foot tall statistician once drowned in a river with an average depth of only two feet.
I might be wrong , I have been wrong before
  • #42
  • Jun 2, 2022 2:45pm Jun 2, 2022 2:45pm
Quoting Mandariin
{quote} A six foot tall statistician once drowned in a river with an average depth of only two feet.
Hello Mandariin,

Thanks for your comment.

Just a correction:

The average daily return is 11% not 20% which mentioned in the previous post.

11% is still amazing ROI

Thanks
I always knew that someday I would make it big
  • #43
  • Jun 2, 2022 10:19pm Jun 2, 2022 10:19pm
Quoting forexer
Dear traders, Stop loss orders have been activated and got out with losses after a massive drawdown today , as a result i had to take 13% losses out of the total account balance . The account was diving down with a selling pressure and managed to save it from being liquidated due to margin call potential. Lesson learned Using stop loss with every single trade is crucial for successful trading. Thanks
Is your total risk around a hard limit of 13% of your account? I don't know how I would stomach those losses on a small account, then again your return is very impressive. Your trades after those losses I would assume would be much smaller lot sizes, correct?

Keep it up!
  • #44
  • Jun 2, 2022 11:55pm Jun 2, 2022 11:55pm
Quoting forexer
{quote} Hello Mandariin, Thanks for your comment. Just a correction: The average daily return is 11% not 20% which mentioned in the previous post. 11% is still amazing ROI Thanks
Keep in mind every 10 $ day makes you account up for 100 %.
I might be wrong , I have been wrong before
  • #45
  • Jun 3, 2022 4:24am Jun 3, 2022 4:24am
Quoting Strykes
{quote} Is your total risk around a hard limit of 13% of your account? I don't know how I would stomach those losses on a small account, then again your return is very impressive. Your trades after those losses I would assume would be much smaller lot sizes, correct? Keep it up!

Hello Strykes,

Thanks for you comment .

No it's not, the account risk is so high as it was about to trigger a margin call 2 days ago when my buying positions got stuck in a selling wave facing a downward risk but i managed to prevent the account from being liquidated and ruined ( go back to my previous posts this week to see the detalis of this trade).

The risk of ruin of this 10$ challenge account is highly significant as a result the risk and drawdown can push it to the limits exceeding 13% and way too more than that, but i have a contingency risk plan in place to be activated when market risks intensifying.

It's worth mentioning here that my hybrid grid systems trade in an aggressive style with a trading philosophy of (High risk High return ) mindset therefore there are many traders will have hard times to tolerate this philosophy.


Thanks again for your nice and encouraging words.

Trade well.
I always knew that someday I would make it big
  • #46
  • Edited 5:38am Jun 3, 2022 4:31am | Edited 5:38am
Quoting Mandariin
{quote} Keep in mind every 10 $ day makes you account up for 100 %.

Hello Mandariin,

Yeah , exactly it's way too high reflection of the return due to the account is still in the beginning but im planning to reduce risk and return as the account grows proportionally.

Thanks
I always knew that someday I would make it big
  • #47
  • Edited 12:41pm Jun 3, 2022 10:06am | Edited 12:41pm
Dear traders,

I was a buyer of EURUSD,USDJPY today as momentum built up right after the US employment data released few hours ago .

The entry is taken after a through analysis of volumes and liquidity levels with a confirmation of technical indicators.

23% return today has been secured and i call it a day for this nerve-racking trading week it's really exciting week.

Lesson learned:

1- Trade with the trend only when there are high volumes and liquidity .

2- Whatever your strategy and how powerful it is , Don't trade before major news releases cause the data changes the technical game completely.

Thanks .

Happy trading .
I always knew that someday I would make it big
  • #48
  • Edited 11:34am Jun 6, 2022 10:37am | Edited 11:34am
Dear traders,

I went long GBPJPY this morning and booked a nice 14% return today.

It was an easy hunt but not bad .

Lesson learned

Take whatever the market is willing to give you ,the market is always fair and you must play fair game to be rewarded.


Thanks.
I always knew that someday I would make it big
  • #49
  • Jun 7, 2022 3:13am Jun 7, 2022 3:13am
Dear traders,

I shorted GBPCAD this morning but i was hit by a counter massive buying move a gainst me which got me out of the trade with a losses and significant drawdown as shown in live trade explorer linked with the thread.

Lesson learned :

Losses are genuine part of the investment game in general and a friend of the trader in Forex in particular so don't be put off by losses and keep going as planned.


Thanks

Keep the spirits high in the sky
I always knew that someday I would make it big
  • #50
  • Jun 7, 2022 4:15am Jun 7, 2022 4:15am
Dear traders,

Trading is halted temporary as the account has had a massive downside drop due to an increasing GBP volatility this morning.

A contingency risk strategy activated.

Thanks
I always knew that someday I would make it big
  • #51
  • Jun 7, 2022 8:31am Jun 7, 2022 8:31am
Hello traders,

Today has been full of series of consecutive losses and 40% daily losses ,it's one of the worst trading day the account ever faced since started a month ago.

Steps are taken to stop the losses and a sophisticated risk management style in play to control the massive ongoing losses.

I'll do my best to get on the right track ,and thank you for your good attitude.

Thanks
I always knew that someday I would make it big
  • #52
  • Jun 7, 2022 10:02am Jun 7, 2022 10:02am
Dear traders,

A multiple long positions have been executed and a GBPUSD trades in play .

It's worth mentioning that the account suffered a deep dive and suffered a massive selloffs against long positions this morning.


I will keep you updated.

Thanks.
I always knew that someday I would make it big
  • #53
  • Jun 7, 2022 12:28pm Jun 7, 2022 12:28pm
Quoting forexer
Dear traders, A multiple long positions have been executed and a GBPUSD trades in play . It's worth mentioning that the account suffered a deep dive and suffered a massive selloffs against long positions this morning. I will keep you updated. Thanks.
After deep drawdown you use bigger targets for trades.
Why not always ?
I might be wrong , I have been wrong before
  • #54
  • Jun 7, 2022 2:32pm Jun 7, 2022 2:32pm
Dear traders,


Today was a full of drama ,losses in the morning with big 40% drawdown which forced me to activate a contingency risk plan to control the drawdown and reverse it .

First trading was stopped to evaluate the situation waiting for a high probability momentum trade at that time it was a GBPUSD buying positions forming and liquidity picking up so quickly which called me to take action and buy GBPUSD aggressively so I rode the train of GBPUSD to make up for my early morning losses and make extra 5.6% daily return like a magician who turns losses into winning trading.

Thanks to my solid strategy and sophisticated risk management style.



Lesson learned:

1-. A sophisticated risk management style is the saviour when your ship sinking deep in the see, it's your life jacket to trigger it when you drown deep in the see .


Thanks
I always knew that someday I would make it big
  • #55
  • Jun 7, 2022 3:10pm Jun 7, 2022 3:10pm
Quoting forexer
Dear traders, Today was a full of drama ,losses in the morning with big 40% drawdown which forced me to activate a contingency risk plan to control the drawdown and reverse it . First trading was stopped to evaluate the situation waiting for a high probability momentum trade at that time it was a GBPUSD buying positions forming and liquidity picking up so quickly which called me to take action and buy GBPUSD aggressively so I rode the train of GBPUSD to make up for my early morning losses and make extra 5.6% daily return like a magician who turns...
It was a very volatile day today in the GBP/USD. Losses are just part of the game.
Thanks again for sharing both your losses and your wins. I see some of my own mistakes and it’s good to know it’s not always just me. You recovered so congratulations, no worries just stick to your plan, Take your losses when you’re supposed to and just keep going.
“The waiting is the hardest part” Tom Petty
  • #56
  • Jun 8, 2022 6:07am Jun 8, 2022 6:07am
Quoting Mandariin
{quote} After deep drawdown you use bigger targets for trades. Why not always ?

Dear Mandariin,

It depends on how powerful the liquidity and signal are ,if two elements strong liquidity with high signal accuracy are met and matched together perfectly i would go for higher target with higher risk and the opposite is true ,if the liquidity is drying out and signal is weak so I'd better reduce risk by sitting lower taget with conservative style.

It's all about the probability of the trade .

Wish you successful trading.

Thanks
I always knew that someday I would make it big
  • #57
  • Jun 8, 2022 6:20am Jun 8, 2022 6:20am
Quoting SirViver
{quote} It was a very volatile day today in the GBP/USD. Losses are just part of the game. Thanks again for sharing both your losses and your wins. I see some of my own mistakes and it’s good to know it’s not always just me. You recovered so congratulations, no worries just stick to your plan, Take your losses when you’re supposed to and just keep going.


Dear SirViver,


Thanks for sharing your own experience as you're facing the same harsh market conditions as me and all other traders around here.

GBPUSD volatility picked up and was a beast yesterday as it changed directions so fast as buyers and sellers were fighting to control the pair ,it was so hard to fight with the whales but i managed to survive in the end .

Yes money management protects you and losses are meant to be a part of the whole trading business as it's going to be your bad friend that you have to cope with.

I wish you happy trading and thanks for you kind words .

Thanks.
I always knew that someday I would make it big
  • #58
  • Jun 8, 2022 9:17am Jun 8, 2022 9:17am
Quoting forexer
{quote} ...on how powerful the liquidity and signal are...
I am not picking on you but I see signal only whan you are deep in the hole.
I have similar problem average winner < smaller that average loser and
1 bad trade will wipes out one week good trading.
I might be wrong , I have been wrong before
  • #59
  • Jun 8, 2022 9:25am Jun 8, 2022 9:25am
Due to the potential to earn money from trading the temptation, especially for new traders, is to push limits in the hope of getting greater profits quicker. But going into trades too enthusiastically - either in volume or value - only serves to raise your level of risk. Jun 17, 2021. If you trade 1st time, you must start trading on a demo account. That's why you will make much fewer mistakes. Assetsfx offers a demo account option for newbies, which I really like. Investing is extremely cost-effective.
  • #60
  • Jun 8, 2022 2:17pm Jun 8, 2022 2:17pm
Hello traders,

Another bad trading day with 23% daily losses .

Trading is stopped again..

Trade well.

Thanks
I always knew that someday I would make it big
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