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10% a month challenge

  • #21
  • Aug 13, 2016 10:33am Aug 13, 2016 10:33am
Quoting aroxalot
{quote} Sorry if I came off as a bit of a Richard, I wouldn't mind competing if I do so on a small account.
Nope!

You come across as a smart trader to me ... no problems with you at all.

I think the thread OP stated minimum 1000 but he's probably flexible in the initial start capital.

Max DD and growth is more important than initial capital (surely)

Anyway if its <1K might be best to ask him.

Masterrmind.............
Master your Mind then Master your Trades
  • #22
  • Aug 13, 2016 11:02am Aug 13, 2016 11:02am
1000K is a lot. Why not $1 maybe
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #23
  • Aug 13, 2016 2:59pm Aug 13, 2016 2:59pm
Quoting domba
1000K is a lot. Why not $1 maybe
That is way too small and you will not be able to feel the emotions of losing or gaining "real" money. I want the psychological reason to be part of it too
  • #24
  • Aug 13, 2016 3:01pm Aug 13, 2016 3:01pm
Quoting aroxalot
{quote} Sorry if I came off as a bit of a Richard, I wouldn't mind competing if I do so on a small account.
A bit smaller starting balance maybe OK. However nothing smaller than $500, as again I am interested in psychological factors as well
  • #25
  • Aug 13, 2016 3:03pm Aug 13, 2016 3:03pm
Quoting RoelsMajor
{quote} I am out then. Well discipline is very hard to achieve My friend. Both TE FF and Myfxbook are good choice to show the DD. Nothing so wrong with that. So far I got -36,8% DD in TE FF and Myfxbook shows -39.45%. Very very big, no matter what the reason. I hope this thread will be a good thread to learn. Good Luck.

You can join us too, as history doesn't count here. We are starting fresh on Monday
  • #26
  • Aug 13, 2016 3:08pm Aug 13, 2016 3:08pm
Quoting Masterrmind
Here is an example that some might find interesting in terms of FX trading gains month on month and year on year (Jan 2011 through July 2016). It is a random example and I certainly have no connection or interest in it whatsoever. It is a registered CTA Advisor and trading company (Futures and Forex mainly) I am sure there are many many more examples that could be discussed. {image} {image} Source: http://www.qtscm.com/managed-accounts/ The stated historical account leverage ranges from 1 to 13. Also the account is traded by automation...

Great examples. Thanks for sharing MasterMind. I agree that the power of compounding and being able to achieve 10% monthly without going down more than 10% would do wonders for your balance after a few years ... Let's make it happen and we will be famous if we can sustain this for the long term (i.e., a few years)
  • #27
  • Aug 13, 2016 4:44pm Aug 13, 2016 4:44pm
Quoting JustUsePrice
{quote} That is way too small and you will not be able to feel the emotions of losing or gaining "real" money. I want the psychological reason to be part of it too
.//-----

you might be under estimating the emotion per dollar of the majority of the world....

everybody doesn't live in north america with money to burn.... 1000$ might be nothing to us, but is more than the average yearly income of quite a few countries.....

india and that region have quite a few very good but under capitalized traders..... many of them have a lot to offer.... unless the door is closed....h
to trade and code, keep both simple... no call to impress....h
  • #28
  • Aug 13, 2016 5:09pm Aug 13, 2016 5:09pm
Quoting hayseed
{quote} .//----- you might be under estimating the emotion per dollar of the majority of the world....
Read again, he was quoting about the $1, not the $1k
  • #29
  • Edited 5:36pm Aug 13, 2016 5:17pm | Edited 5:36pm
Quoting JustUsePrice
Goal is to make 10%+ profit a month
This is very intersting, first time I see in Forex Factory something relative to money management and not a super duper system winner, I will follow this with interest, I am sure we got a lot to learn from this.
  • #30
  • Aug 13, 2016 5:20pm Aug 13, 2016 5:20pm
Quoting Rcubic
{quote} This is very intersting, first time I see in Forex Factory something relative to money management and not a super duper system winner, I will follow this with interest, hope we can learn from this.
you are welcome aboard
  • #31
  • Aug 13, 2016 5:22pm Aug 13, 2016 5:22pm
Quoting hayseed
{quote} .//----- you might be under estimating the emotion per dollar of the majority of the world.... everybody doesn't live in north america with money to burn.... 1000$ might be nothing to us, but is more than the average yearly income of quite a few countries..... india and that region have quite a few very good but under capitalized traders..... many of them have a lot to offer.... unless the door is closed....h
I appreciate your point, but I need to make this competition at a level playing field to all. So, we need to have a common minimum starting balance and in my opinion $500 to $1000 is not alot of money.
  • #32
  • Edited 5:45pm Aug 13, 2016 5:23pm | Edited 5:45pm
Quoting Masterrmind
{quote} Sounds like a good idea!
Would be amazing to see you active in this challenge, your out puts are always welcome, you are one the very few down to earth traders in this factory
............
  • #33
  • Aug 13, 2016 5:30pm Aug 13, 2016 5:30pm
Quoting JustUsePrice
{quote} you are welcome aboard
Uhmmmm I am very tempted, I think once we are in challenge, we will be more cautious about our trading activity, specially the %10 DD, it will help us and train our self, to control our emotions (risk).
  • #34
  • Aug 13, 2016 6:09pm Aug 13, 2016 6:09pm
Quoting hayseed
{quote} .//----- you might be under estimating the emotion per dollar of the majority of the world.... everybody doesn't live in north america with money to burn.... 1000$ might be nothing to us, but is more than the average yearly income of quite a few countries..... india and that region have quite a few very good but under capitalized traders..... many of them have a lot to offer.... unless the door is closed....h
You know very well about leverage
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #35
  • Edited 6:45pm Aug 13, 2016 6:14pm | Edited 6:45pm
Quoting JustUsePrice
{quote} That is way too small and you will not be able to feel the emotions of losing or gaining "real" money. I want the psychological reason to be part of it too
Maybe this is only me, this is my calculation about starting capital.

Starting balance $1000 with leverage 1:100
Starting balance $500 with leverage 1:500
Starting balance $10 with leverage 1:1000

Three of them is same to me.
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #36
  • Aug 13, 2016 7:19pm Aug 13, 2016 7:19pm
Count me in..

just to confirm, if i make withdrawals, would it alter my profit percentage?
  • #37
  • Aug 13, 2016 7:48pm Aug 13, 2016 7:48pm
Quoting Koop
Count me in.. just to confirm, if i make withdrawals, would it alter my profit percentage?

Welcome aboard and enjoy the ride ... I do not think withdrawals should affect your profit %
  • #38
  • Aug 13, 2016 7:49pm Aug 13, 2016 7:49pm
Quoting domba
{quote} Maybe this is only me, this is my calculation about starting capital. Starting balance $1000 with leverage 1:100 Starting balance $500 with leverage 1:500 Starting balance $10 with leverage 1:1000 Three of them is same to me.
It is up to you if you wish to participate in this challenge.
  • #39
  • Aug 13, 2016 7:50pm Aug 13, 2016 7:50pm
Quoting Rcubic
{quote} Would be amazing to see you active in this challenge, your out puts are always welcome, you are one the very few down to earth traders in this factory ............
I believe MasterMind has expressed interest, and he will be in .. isn't that right Master??
  • #40
  • Aug 13, 2016 7:55pm Aug 13, 2016 7:55pm
Quoting Rcubic
{quote} Uhmmmm I am very tempted, I think once we are in challenge, we will be more cautious about our trading activity, specially the %10 DD, it will help us and train our self, to control our emotions (risk).
Yes, that is the reason why I started the challenge. To control trade risk and keep an eye on DD. It is easy to gain 10% with 90% DD I see it all the time But can you consistently be profitable while controlling DD ? Lets get this party started MUAHAHAHA
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