$100 to +$12000 in 12 Months - Revised Attempt

Hi Everyone!

Welcome to my challenge thread. I am going to attempt a target of $12K first with this tiny amount of $100. I hope to attain it within the next 12 months. The purpose of this thread is to show you that even smallest of the accounts can sustain profits if you know what you are doing. The goals for each month in the schedule appended in the end of this post is inclusive of all the overheads i.e., spreads, swaps and commissions charged by the broker. Only GBPUSD is being used in this thread as a tradeable instrument and I will prefer to keep the discussion encompassing the same pair. Each trade is being actively calculated and monitored manually whereas execution of each trade is done using MT4 utilities developed by me.

...............:::::::::::::: Account Settings ::::::::::::::...............

Account: Standard ECN

Account Leverage: 1000:1

Starting Account Size: $100

Traded Instrument: GBPUSD

Average Spread: 1.2 pips

Broker: Lite Finance

...............:::::::::::::: What this thread is not ::::::::::::::...............

1. This thread is not proposing a get rich quick scheme or is based on a martingale strategy.
2. This thread is not for those who want to shame anyone just because they failed in their own endeavors.
3. No fixed targets are placed for each trade. Everyday the targets are revised based on ADR.
4. Also, not using trend following system. Trades are calculated for each day based on the changing price action.
5. Long term trend is not used extensively at the outset but proper risk management rules are at constant play for each trade separately.

...............:::::::::::::: Tools Being Used ::::::::::::::...............

1. The trades are executed with a stealth pending stop order strategy (i.e., the stop orders will stay hidden and will be executed by a separate algorithm to protect against deliberate slippage by the brokers) along with varying lot sizes for each trade.
2. The algorithm is only being used to pass on market orders and is not being used to manage the strategy.

...............:::::::::::::: Drawdown Rules ::::::::::::::...............

1. The drawdown for each trade/set of trades is fixed at max of 30% of the Account Size at any given point. This is done to let the trades breathe for a fair length of time and ADR.
2. The trades will not be closed even if it breaches the above rule.
3. The drawdown will be countered by hedge trades if ever required to deal with any unforeseen circumstances. Overall, this strategy is already very robust to avoid such situations and I foresee it to stay the same at least for the next 12 months.

...............:::::::::::::: Frequency of Updates ::::::::::::::...............

This thread will be updated by the author if:

 

1. A comment/suggestion/question is posted by any member of this august community.
2. A trade/set of trades is closed in profit or loss.
3. A target is achieved for the month.
4. A target is not achieved for the month but the month is over. Subsequently, the difference will be posted to remain as transparent as I can.

...............:::::::::::::: Withdrawals ::::::::::::::...............

1. Amounts in excess of targets will be withdrawn from the account as soon as the month closes.

...............:::::::::::::: My Personal Profile ::::::::::::::...............

I have been trading in the forex market since 2011 and during this time I blew a lot of accounts. By the end of 2018, I developed a robust trading system which is being deployed here in this account appended with this thread on top. This strategy is a work of several years and is guaranteed to sustain any situation in the financial markets i.e., black swan events, pump and dump, ranging, trending etc.

Additionally, I am a freelance researcher with a lot of experience in conducting data analysis using Python and R. I have developed a lot of strategies during my failed attempts along the way in forex market using my statistical and mathematical knowledge. Along with that I have also prepared machine learning algorithms to deal with unforeseen circumstances in the financial markets.

I hope to bring in some sense here, which I have been gathering throughout my years long experience.

Let's roll.



Trade Wizard

...............:::::::::::::: Goals ::::::::::::::...............

...............:::::::::::::: Trade Explorers ::::::::::::::...............

Trade Explorer from FF will be appended at the top once the funds are fully loaded.
Alternatively, MyFXBook TE link will be provided here to track the account.

...............:::::::::::::: Additional Pairs Inclusion Levels ::::::::::::::...............

Old Thread Here

Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. I am not responsible for anyone's profits or losses. Do your own due diligence.

This thread will start on Monday 26th September.

watching out to see what i can learn..

Landed at 22% so far. 28% more to go

Following

39.6% so far in 1 week alone. Let's catchup next week.

Looks like you will do some surgical precision sniper shooting. I am subscribed. It would be nice to see some graphs... Good luck and all the best!

September closes with a lot of extended ranges (i.e., 300-400 pips) during couple of days and spreads expanding enormously as high as 140 pips at one point during the Cable crash. During these unprecedented abrupt movements, where majority of the accounts were blown, this account not only survived but also managed to capture 45.5% profit in a month (Total 9 days). This percentage fell short of targeted 50% return by merely 4.5%. The money management was observed at all times and the trades were managed manually including the closure. Last Friday was deliberately left off for trading as the month was closing and I didn’t want to be the part of choppy price action.

The month of October will also be a shadow of September since fundamentals are not very positive for pound at the moment but the whole story will unfold once we step into October. I am expecting the same expanded ranges for the next month as well. BoE plays a pivotal role in deciding the fate of Cable and all eyes are on BoE to increase the interest rates more than their forecasted figures. Let’s see what it brings.

Key levels for next month are shown in the exhibit below:

Attached Image (click to enlarge)

Already above 100% this month but it is yet to close. I may land at more than 200%. Let's see