10 Trade Challenge | Forex Factory

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10 Trade Challenge

  • #1
  • First Post: Jul 27, 2016 10:10pm Jul 27, 2016 10:10pm

10 Trade Challenge


Can you trade your method 10 times in a row following the rules exactly?
Post your method and 10 time stamped charts showing your trades.
Use 0.01 lots.
Late entries, blown stops, failing to take profit, all count against you.
The idea is to follow your system.
The P/L per trade does not count.
10 losing trades in a row following the rules is a perfect 10.
If you are having difficulty with your trading, taking this challenge will help.
The purpose is to help you focus and execute according to your method.
If you are extremely unlucky and lose 10 times in a row, 0.01 lots should not hurt your account too bad.

Mark your chart showing the method's entry, SL and TP and where you entered, SL or TP.
Any difference counts as 0.
Only perfect entry/exits count as 1.
Can you score a perfect 10?

Green pips to all.
Cheers.

P.S. Using EAs is prohibited - no cheating!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2
  • Jul 27, 2016 10:35pm Jul 27, 2016 10:35pm
Quoting TooSlow
10 Trade Challenge Can you trade your method 10 times in a row following the rules exactly? Only perfect entry/exits count as 1. Can you score a perfect 10? Green pips to all. Cheers. P.S. Using EAs is prohibited - no cheating!
but how will YOU know which entry/exit is for ME perfect?
(.)(.) think first ...
  • #3
  • Jul 27, 2016 11:02pm Jul 27, 2016 11:02pm
Can we use EA to manage a manually open position ( TP SL ) ?
trying to make everyday the best risk/reward decisions possible
  • #4
  • Jul 27, 2016 11:11pm Jul 27, 2016 11:11pm
2 positions open
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trying to make everyday the best risk/reward decisions possible
  • #5
  • Jul 28, 2016 12:58am Jul 28, 2016 12:58am
Quoting maximumguita
{quote} but how will YOU know which entry/exit is for ME perfect?
Honor system.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6
  • Jul 28, 2016 12:59am Jul 28, 2016 12:59am
Quoting slowbrain
Can we use EA to manage a manually open position ( TP SL ) ?
No EAs
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #7
  • Edited 5:35am Jul 28, 2016 4:23am | Edited 5:35am
2 Close trades Manually
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Click to Enlarge Name: Screen Shot 2016-07-28 at 18.34.52.png Size: 116 KB
trying to make everyday the best risk/reward decisions possible
  • #8
  • Oct 8, 2016 2:49pm Oct 8, 2016 2:49pm
TooSloow after i make 10 sucesfull trades with 0.01 i will jump in 0.02 Right? Thanc you in advance
  • #9
  • Dec 2, 2016 4:52am Dec 2, 2016 4:52am
No more challengers?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10
  • Dec 2, 2016 4:59am Dec 2, 2016 4:59am
Quoting TooSlow
No more challengers?
The thread looks interesting. Nice out of the box challenge...
  • #11
  • Dec 14, 2018 12:25am Dec 14, 2018 12:25am
I doubt if someone will be able to do it (whatever is the system).
  • #12
  • Dec 14, 2018 4:41am Dec 14, 2018 4:41am
Quoting TooSlow
10 Trade Challenge Can you trade your method 10 times in a row following the rules exactly? Post your method and 10 time stamped charts showing your trades. Use 0.01 lots. Late entries, blown stops, failing to take profit, all count against you. The idea is to follow your system. The P/L per trade does not count. 10 losing trades in a row following the rules is a perfect 10. If you are having difficulty with your trading, taking this challenge will help. The purpose is to help you focus and execute according to your method. If you are extremely...
If you need to follow the system exactly, write a trading robot. This will definitely execute the algorithm. Don't torture yourself.
  • #13
  • May 1, 2019 8:33pm May 1, 2019 8:33pm
Quoting CassandraK
{quote} If you need to follow the system exactly, write a trading robot. This will definitely execute the algorithm. Don't torture yourself.
You may have a point there.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #14
  • Apr 23, 2021 12:06am Apr 23, 2021 12:06am
This is a great challenge and one which we believe to be under-appreciated by traders.

By executing your well defined and tested rules over a large enough sample size you can build out-of-sample trust in your systems, and the consistent risk size allows you to easily assess the performance once you've complete the challenge period.

#-------

Why is this important? Well, it really comes down to the equation for success in trading;

  1. Strategy + Consistency + Capital = The Ability To Trade Full-Time.

Often traders struggle with achieving this because they expect too much off the little capital they have, however, the level of capital they have is often out of their control. Conversely, executing a proven strategy consistently is in their control.

Moreover, if they focus on doing just this, no matter how little money they're risking, they will be much better abled to secure funding which will plug the gap in the equation. Whether that funding comes from a private individual or a well known retail firm, it will provide the missing piece of the puzzle for them.

Therefore, new traders should exclusively focus on strategy and consistency. They should forget about trading profits all together, because profits will come once they've proven that they can manage money accordingly.

  • #15
  • May 29, 2021 6:12pm May 29, 2021 6:12pm
Who is taking the 10 trade challenge the week of MAY 30, 2021?

During the challenge, you are only to trade the same pair.

Beginners do not get to trade multiple pairs until they have mastered trading one single pair.

GREEN PIPS TO ALL.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16
  • May 29, 2021 6:58pm May 29, 2021 6:58pm
The forex market is not as stable as it was 2 years ago. it is very difficult to trade 10 consecutive winning trades with guaranteed RR
  • #17
  • May 30, 2021 7:57am May 30, 2021 7:57am
Quoting hoaibacforex
The forex market is not as stable as it was 2 years ago. it is very difficult to trade 10 consecutive winning trades with guaranteed RR
"guaranteed"
  • #18
  • Jan 11, 2025 9:54am Jan 11, 2025 9:54am
What's the reason more traders are not stepping up to this challenge?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19
  • Jan 11, 2025 10:09am Jan 11, 2025 10:09am
Because real traders are not here to show off
  • #20
  • Jan 11, 2025 11:01am Jan 11, 2025 11:01am
Quoting TooSlow
What's the reason more traders are not stepping up to this challenge?
1) Most FF members do not have a rule-based method.

2) If they do have a rule-based method, they only trade it a few times and then abandon it and the rules after 2 or more consecutive losing trades.

3) Most people who decide to try to become consistently profitable traders never do the work or the thinking that will lead them to see that doing this exercise is required in order to become a consistently profitable trader.

4) Most FF members think that all trading is discretionary, even if they pay lip service to having a method or system.
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