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SAINT's Free Account Concept- $100 to $0.1 Million - Attempt Journal

  • #81
  • Aug 15, 2013 5:34am Aug 15, 2013 5:34am
Update 21 done in 1st post.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #82
  • Aug 15, 2013 6:19am Aug 15, 2013 6:19am
Hi Saint,

sorry for your account for the moment.
BOTH congratulations for your success road. You made extremely more money out of your $100 in a much shorter time than anyone I have ever seen. I deeply hope you start another try -
  • #83
  • Aug 15, 2013 6:53am Aug 15, 2013 6:53am
19 Lots on 6K is extreme leverage and 99.999% of traders would be bricking it. I think you are the 0.0001% who has been there and done it. Good luck with reload!
None the wiser!
  • #84
  • Aug 15, 2013 8:15am Aug 15, 2013 8:15am
No time for a pity party - re-up and get back at it.
  • #85
  • Aug 15, 2013 10:02am Aug 15, 2013 10:02am
Worth a shot with that amount of exposure if you are able to recover like last time.
  • #86
  • Aug 15, 2013 10:50am Aug 15, 2013 10:50am
even with todays loss - an 800+% gain for the month and its only half way done.... most wannabe traders (myself included) would pee-pee on themselves for those kind of results. in my humble opinion there is only one option - deposit another $100 and repeat.
  • #87
  • Edited 12:26pm Aug 17, 2013 11:46am | Edited 12:26pm
Quoting CandleStar
Hi Saint, sorry for your account for the moment. BOTH congratulations for your success road. You made extremely more money out of your $100 in a much shorter time than anyone I have ever seen. I deeply hope you start another try -
Sorry? for what?
If i dont feel sorry for losing some free in-house money, which i generated, you definitely need not bother
Thats COMPLETELY part and parcel of trading such accounts.

I have posted you the following before too ( and kindly dont ask the same again)
Another try? why not? This thread is an attempt journal & will go on till the target is reached.

Further why the hell, will i, just, keep the $11,000 + profits generated from 100$ attempts, in this self-challenge thread.
Those profits are enough to test another 110 attempts (of 100$ each). Even if all those DONT work out, i am still Breaking even.

I (not sure about others) still have respect for traders who are even just breaking-even. Most out here know how small is the number of losers in this "Very easy" profession.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #88
  • Aug 17, 2013 12:11pm Aug 17, 2013 12:11pm
Quoting FxClown
19 Lots on 6K is extreme leverage and 99.999% of traders would be bricking it. I think you are the 0.0001% who has been there and done it. Good luck with reload!
Though i can understand why this thread receives a lot of replies ..when an attempt account suffers some loss of "free in-house money" and why not so when its making >10000% or >100 times the starting equity......
what i dont understand is why i am seeing so many replies for asking me to try once again.

Who is saying that i won't?
This is an attempt journal & net $11037 (11037% ) of profits have been already generated from a starting $100 attempt.
So literally...whats left for 0.1 million target to end is more $88963 to go. Not a difficult deal. Just needs some time and more precision. More the precision... proportionately lesser will be the time required. As simple as that.

Trading such accounts and trying out things which you rarely see anyone doing requires extreme trading skills and one gotta have precision in entries.
This attempt's USDCHF's short entries were bit off the appropriate LVL's and a US data spike ruined them.
My conviction of analysis for USDCHF bearish positions was high for at least 9280....and thats why the large trading sizes
USDCHF .... was later kicked down 180 pips since then to lows of 9216...within 1.5 hours.
It just didn't work out as per my timing. As Simple as that. Nothing to worry about.

Trading accuracy on this account is still >80% and tops 85 if breaking even trades are added as winners too.
(they are always winners IMO when the fact remains that after placing a trade, start is always from -ve profit float (thanks to spreads))
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #89
  • Edited 1:02pm Aug 17, 2013 12:49pm | Edited 1:02pm
Quoting enochben
No time for a pity party - re-up and get back at it.
Quoting enochben
even with todays loss - an 800+% gain for the month and its only half way done.... most wannabe traders (myself included) would pee-pee on themselves for those kind of results. in my humble opinion there is only one option - deposit another $100 and repeat.
Pity party???? Indeed .... i was planning to leave all these materialistic worldly desires after that SOOOOO HUUUGGEEE LOSS (of my life savings) &
was thinking to move to himalayas for prayer & meditation.... till death
Come on ..gimme a break.

Regarding request of attempting again......I just made 2 replies above. Kindly have a read.

Further its not some 800% gain. Its >5800% of absolute gain in this attempt from $100 (actually 97.30$)
I post and clearly update all correct info in 1st post and so are my explorer details which are public to all.
One of the reasons to do that is keep those naysayers and morons at bay i have seen a plenty of such ID's on ForexFactory), who just can't make a $ is whole life BUT always thinking to find ways/petty things to mock someone over internet, for trading result proofs

Trade explorer says 800% gain based on some ~$512 deposit entry of NBP (negative balance protection) by broker.
For those who don't know....When a large position is open (generally highly leveraged) and price moves in opposite direction.... a lot like the US news release spike , balance often gets to negative (which happened in this attempt case too).
So brokers correct that negative balance which trade explorer wrongly Reports as deposit, thereby changing the stats
Almost all mt4 brokers provide NBP, as spot fx is quite leveraged. This is not something new anyway.

So its not CORRECT to call a >5800% net gain from this attempt as ~800% if one actually sees the facts

Though neither i am sure about the wannabe traders doing the pee-pee part, &
& though nor i am sure i can advise someone to trade such way (esp. before knowing about his/her trading style/profile/skills),
i am still sure that any trader who is skilled at reading & trading price action on all time frames and esp. on lower time frames (esp. for entries) can generate similar and lot more %age profits. Its difficult but not very difficult. Psychological control also gives a LOT of edge trading such accounts.

To be frank ( i mentioned about this once before also in a long post),
its actually NOT about the gigantic %age profits trading such accounts. its about the learning experience one gets ...trading such small accounts.
Evaluating PA like say setups, S&R, finding price patterns, evaluating price fakes, Sniper entries/exits to the last f**king pip, price level evaluations, quick decision making , handling data releases, keep track on important news (esp. trading such leveraged accounts), emotional management, improvising
and the final thing -> TAKING CONTROL of your trading
and doing that on small Time frame level ..... wow...... surely gives me a kick !

These accounts have taught me a lot more than what i taught myself doing conventional low-risk-trading (which of course i still do)
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #90
  • Aug 17, 2013 12:51pm Aug 17, 2013 12:51pm
Quoting Robertk
Worth a shot with that amount of exposure if you are able to recover like last time.
Not sure what you mean.
May be my last few posts answer your question too (esp. if its about nudging to attempt again)
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #91
  • Aug 17, 2013 5:27pm Aug 17, 2013 5:27pm
Quoting forexsaint
{quote} {quote} Pity party???? Indeed .... i was planning to leave all these materialistic worldly desires after that SOOOOO HUUUGGEEE LOSS (of my life savings) & was thinking to move to himalayas for prayer & meditation.... till death Come on ..gimme a break.
That was not intended for you, but rather for the posters who displayed pity... but it's all good.
  • #92
  • Aug 18, 2013 1:48am Aug 18, 2013 1:48am
Forexsaint,

Gr8 trading as usual, keep it up. I attempted to do the same with $111 but busted due to spikes. I am planning to give it a new try again, I wanted to know more about how you manage your positions, thats scaling in & trailing stops. I wanted to learn the unique MM you are using in this kind of accounts. I am doing quiet good on my conventional trading account & I m good with precision entries, so my success of this account only depends on MM, thats why I want to know how u manage your positions in this kind of accounts. I dont know whether it is right place to ask this question, but I know for sure that you are right person to ask this question. If you are ready to share your knowledge & experience, then it will be gr8.

Cheers!
  • #93
  • Aug 18, 2013 1:52pm Aug 18, 2013 1:52pm
Quoting enochben
{quote} That was not intended for you, but rather for the posters who displayed pity... but it's all good.
Ah ok. Though pity-party posters were relatively less this time.
In any way hope you liked the joke
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #94
  • Aug 18, 2013 2:21pm Aug 18, 2013 2:21pm
Quoting alex4xes
Forexsaint, Gr8 trading as usual, keep it up. I attempted to do the same with $111 but busted due to spikes. I am planning to give it a new try again, I wanted to know more about how you manage your positions, thats scaling in & trailing stops. I wanted to learn the unique MM you are using in this kind of accounts. I am doing quiet good on my conventional trading account & I m good with precision entries, so my success of this account only depends on MM, thats why I want to know how u manage your positions in this kind of accounts. I dont know whether...
Alex,
i didn't see your thread till now. Not sure how important those 111$ were to you but i advise not doing this with real money for sure (even though small) esp. if you dont have a good plan already(at least demo tested;except if you have a lot of money to donate to markets )

Yes, of course this, is not the right thread to ask.
This is a attempt journal thread and not some trading system kitchen.
When i will get time and importantly a good reason to be a system guru (like the thousands we have in trading systems board) and open a system thread, i would let you know. As of know there are relatively more reasons to not do the same(i wrote a long post back in march ->here<-about that)

I have already written a lot about my strategy. Read this thread and others. Its nothing special or Top-secret shit but definitely needs a good PA skilled trader (on lower time frames too else time costs of trading such accounts would be high). Managing large positions is possible with using scripts, ea's etc (most are free ly available on FF etc. I have a thread too (it has thousands of downloads of various basic "freely available" scripts, ea's etc). Maybe they can help to some extent.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #95
  • Aug 19, 2013 12:09am Aug 19, 2013 12:09am
Forexsaint,

Firstly, Thank you for your reply.

Quoting forexsaint
{quote} Alex, i didn't see your thread till now. Not sure how important those 111$ were to you.

That $111 was not at all important for me, as I have been trading for 3+ years & I have been pretty good at reading market direction. I usually trade on h4 TF & I am swing trader, so I pretty much go for 200-500 pips (h4 TF swings) risking 30-60 pips (smaller TF triggers). Every year I reserve some % of my profit from trading, which can be used to test new strategy, develop new skills & knowledge, as I believe learning is never ending process, not only in this profession but in every profession. This $111 was from that provision, so nothing to worry about, just a learning fees for new effective strategy. I dont want to know your system in whole as I know you have discussed about it before & which is similar to mine also, PA, TL, S-R LVL, SD Zone, Pattern. I know you add your positions on m5/m15 TF SD zones mostly, what I was not clear is how you determine your trailing stops to them, do u scale out ? How you decide how many position is good for any chosen particular zone. If at all you can throw some light on my questions, that will be great. If not, as this is not the place & you are pretty much tied up with your schedule, then thats absolutely no problem, as I can understand you. And accept my apology if I bothered you.

Thanks & cheers!
  • #96
  • Aug 21, 2013 5:55am Aug 21, 2013 5:55am
How is holiday volume affecting your trades? Noticed you havent had a trade recently/last 3 days. Just being a bit inactive or simply havent found any decent setup taking place? Myself havent found any setup as of late, its really being a terrible market at the moment, at least for my system. Wonder how yours is doing in this kind of environment.
  • #97
  • Aug 21, 2013 11:24pm Aug 21, 2013 11:24pm
Update 22 done in 1st post.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #98
  • Aug 21, 2013 11:49pm Aug 21, 2013 11:49pm
Quoting alex4xes
. I know you add your positions on m5/m15 TF SD zones mostly, what I was not clear is how you determine your trailing stops to them, do u scale out ? How you decide how many position is good for any chosen particular zone. If at all you can throw some light on my questions, that will be great. If not, as this is not the place & you are pretty much tied up with your schedule, then thats absolutely no problem, as I can understand you. And accept my apology if I bothered you. Thanks & cheers!
As already mentioned i trade with discretion based on PA experience and neither i have much motivation or reasons(already posted before) to post about it (which may or may not be possible in writing...just like everything discretionary cant be coded) and nor i am interested to (at least as of now)

To answer you questions...
Trailing is nothing fixed, depends upon current market conditions with regards to the pair profile (most pair is different)
I usually use Trailing below major broken RES levels (in case of longs and likewise). MA's are also used sometimes.
Usually trailing and BE'ing of a trade is intensive during early stage of account (save the ass rule). As the account grows and more free money generated, increased leeway is given to stops and trailing (to let space to the BIAS to play out)
Position sizing is USUALLY based on equity (& free margin %age) & position zone is already explained by me ->here<- (do it based on grading the price levels)

Further whatever i do is not 100% LOSS PROOF (There is nothing actually in this world) so i am not actually a "GOOD REFERENCE" person
I still evolve everyday, trying to find ways to minimize risk and still maximize returns and make most out of these tiny accounts & also my normal conventional trading accounts.

Further, I would again repeat, this thread is not regarding the same (nor i want to become some system guru), so kindly don't ask.
Trade yourself, learn and evolve.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #99
  • Aug 22, 2013 12:00am Aug 22, 2013 12:00am
Quoting Robertk
How is holiday volume affecting your trades? Noticed you havent had a trade recently/last 3 days. Just being a bit inactive or simply havent found any decent setup taking place? Myself havent found any setup as of late, its really being a terrible market at the moment, at least for my system. Wonder how yours is doing in this kind of environment.
To be frank, as far as these trading accounts are concerned, i really dont care about liquidity issues. (prolly some days around christmas; thats all)
Otherwise there is enough of moves in one pair or another for levels to play and for profits to be made. later NY and early Asian sessions are sometimes to be avoided.

As informed before, all attempts are not part of this challenge or the 100 fold one(neither all profitable nor all losers) . Actually last too days made 3500% & 3000% in 2 accounts (was trying something else with different starting equity).
I can also NOT write that they actually busted even after being up by that many %ges (It was USDJPY longs(2 days ago;97.25 to 98.10) and AUDUSD longs(2 days ago;9020 to 9100). But the fact is same. I was trying something and that didn't play out as expected. As simple as that.
So logically, last 3 days still gave enough opportunities. ~100pips move is enough for not being disregarded, if bias is made in analysis.
These liquidity issues are not what bothers me,...except if may be trading 10 lots per trade. (or >100 lots position at a time)
(though yes the possibility of spikes/fakes is quite more in low liquidity days and can mess with LVL play)
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #100
  • Aug 22, 2013 2:18am Aug 22, 2013 2:18am
Quoting forexsaint
{quote} As already mentioned i trade with discretion based on PA experience and neither i have much motivation or reasons(already posted before) to post about it (which may or may not be possible in writing...just like everything discretionary cant be coded) and nor i am interested to (at least as of now) To answer you questions... Trailing is nothing fixed, depends upon current market conditions with regards to the pair profile (most pair is different) I usually use Trailing below major broken RES levels (in case of longs and likewise). MA's are...
Forexsaint,

You have answered almost all I wanted to know, thank you for your time for that. Believe me I never wanted you to become some guru, as you are good being non-diplomat & I dont want you to change that approach. You made your points & same has been well received by me. Thank you again & very best wishes for your attempt, your attempts are my motivations, if you can do it, so am I. I will do it too in near future.

Cheers!
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