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10% a month challenge

  • #41
  • Aug 13, 2016 8:17pm Aug 13, 2016 8:17pm
Quoting Masterrmind
{quote} Yes I'm in! Masterrmind.............
Excellent ... looking forward to your participation
  • #42
  • Aug 13, 2016 8:25pm Aug 13, 2016 8:25pm
Quoting JustUsePrice
{quote} Excellent ... looking forward to your participation
Yes I'm in!

I also think the account should be fresh with no custom start date applied.

Start a fresh trading account and show all the account history (except initially I may hide TPs and SLs).

I will show balance and lots etc but at the end of the day I think the most important part is to show the max DD and the account growth.

Lets see how we all do and thanks for starting this thread JustUsePrice a nice idea.

Questions:

What happens to a trader who exceeds the maximum floating DD limit set at 10%?

Are they permanently out forever?

I think if you allow them to come back again then it makes it difficult to follow the leading traders (whoever they might be).

I suppose you could apply a maximum number of attempts per trader ..... up to you.

What is your take on this situation?

Masterrmind.............
Master your Mind then Master your Trades
  • #43
  • Aug 13, 2016 8:42pm Aug 13, 2016 8:42pm
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 ............
Many thanks for the compliments Rcubic.

Great to see you involved.

I'm keen to see how many traders participate in this "friendly" but personally competitive challenge.

I'll be using a TE and also myfxbook to track the trading analytics.

Lets see how it turns out.

Best of trading to everyone.

Masterrmind............
Master your Mind then Master your Trades
  • #44
  • Aug 14, 2016 1:01am Aug 14, 2016 1:01am
I am in.
I might be wrong , I have been wrong before
  • #45
  • Aug 14, 2016 1:45am Aug 14, 2016 1:45am
Quoting JustUsePrice
{quote} It is up to you if you wish to participate in this challenge.
I not in, just want this thread not dead before challenge begin
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #46
  • Aug 14, 2016 2:18am Aug 14, 2016 2:18am
This challenge will seperate the men from the boys. I would defiantly like to participate, but I'm not sure why it is starting half way through the month. I won't have a problem following the draw down restrictions part of the rules. But sooner or later I'll have a month and won't hit the 10% target. I plan on opening a new account with a new broker soon anyway - do participants have to start tomorrow or is it alright to start on the first of September?
  • #47
  • Aug 14, 2016 3:09am Aug 14, 2016 3:09am
Quoting Horne
This challenge will seperate the men from the boys. I would defiantly like to participate, but I'm not sure why it is starting half way through the month. I won't have a problem following the draw down restrictions part of the rules. But sooner or later I'll have a month and won't hit the 10% target. I plan on opening a new account with a new broker soon anyway - do participants have to start tomorrow or is it alright to start on the first of September?
I also tend to think like this with starts from the 1st trading day of a new month creates much tidier looking trading account analytics.

Including as you say the full month to produce hopefully at least a 10% gain whilst remaining below a 10% DD.

Not sure if the thread OP wants to wait though although he has suggested a 5% gain for half a month.

ps. you could always start this Monday and crack the 10% growth and really pack on the pressure for everyone else!

pps. I do like a clean start in a new month though ... no argument from me ...

ppps. I guess there is nothing stopping you from starting in September in any case!

Masterrmind.............
Master your Mind then Master your Trades
  • #48
  • Aug 14, 2016 4:28am Aug 14, 2016 4:28am
Maybe we should all start from Monday and target 5% for this month just as the OP intends to. Then starting from the first of next month, we revert to the initial 10% gain rule...

However Im down to just wait...
  • #49
  • Aug 14, 2016 5:52am Aug 14, 2016 5:52am
Whats the benefit in this challenge...
https://www.mql5.com/en/signals/207498

Attached Image (click to enlarge)
Click to Enlarge Name: free.jpg Size: 98 KB
Le$$ I$ More
  • #50
  • Aug 14, 2016 6:29am Aug 14, 2016 6:29am
Subscribed. I am also in. Good luck!
  • #51
  • Aug 14, 2016 12:07pm Aug 14, 2016 12:07pm
Quoting Roszey
Whats the benefit in this challenge...
hi Roszey, what analytics are you using ?
  • #52
  • Aug 14, 2016 12:38pm Aug 14, 2016 12:38pm
Quoting Masterrmind
{quote} Yes I'm in! I also think the account should be fresh with no custom start date applied. Start a fresh trading account and show all the account history (except initially I may hide TPs and SLs). I will show balance and lots etc but at the end of the day I think the most important part is to show the max DD and the account growth. Lets see how we all do and thanks for starting this thread JustUsePrice a nice idea. Questions: What happens to a trader who exceeds the maximum floating DD limit set at 10%? Are they permanently out forever? I think...
If a trader hits > 10% DD, then they are out for the month. If they choose to come back, they need to come back the start of the next month. I am going to follow baseball rules here. 3 strikers and you are out permanently
  • #53
  • Aug 14, 2016 12:39pm Aug 14, 2016 12:39pm
Quoting Mandariin
I am in.
Welcome aboard
  • #54
  • Aug 14, 2016 12:39pm Aug 14, 2016 12:39pm
Quoting domba
{quote} I not in, just want this thread not dead before challenge begin
Will try to keep this thread alive s long as possible
  • #55
  • Aug 14, 2016 12:41pm Aug 14, 2016 12:41pm
Quoting Roszey
Whats the benefit in this challenge... https://www.mql5.com/en/signals/207498 {image}

Not sure what you are posting.

The benefit form this challenge is to practice self discipline and try to be profitable while keeping DD under 10%
  • #56
  • Aug 14, 2016 12:41pm Aug 14, 2016 12:41pm
Quoting TakeUrPills
Subscribed. I am also in. Good luck!
Welcome aboard
  • #57
  • Aug 14, 2016 12:47pm Aug 14, 2016 12:47pm
Hmm, it seems like the majority of traders wanting to participate would like to start at the beginning of the month. So be it. Lets start September first, but you are free to start trading now if you wish, but analytics will start September first. Again, this is a self challenge and it is meant to improve one's discipline and not meant to be a competition really. As such, I did not quite think of the all the rules and numbers (as you can easily tell by the lack of organization). It seems like alot of traders are competitive and wish to make this more of a friendly competition at the same time, which is quite interesting to me too. For this to happen, I need a way to keep track of all participants in the challenge. This is something again I didn't really think of. Any suggestions?
  • #58
  • Aug 14, 2016 2:24pm Aug 14, 2016 2:24pm
it would be cool to post a weekly and daily ranking like other trading contests
  • #59
  • Aug 14, 2016 2:33pm Aug 14, 2016 2:33pm
Quoting JustUsePrice
Hmm, it seems like the majority of traders wanting to participate would like to start at the beginning of the month. So be it. Lets start September first, but you are free to start trading now if you wish, but analytics will start September first. Again, this is a self challenge and it is meant to improve one's discipline and not meant to be a competition really. As such, I did not quite think of the all the rules and numbers (as you can easily tell by the lack of organization). It seems like alot of traders are competitive and wish to make this...
What about linking the TEs of all participants to this thread? Or create a separate thread only for the TEs, because a lot of linked TEs would skew the layout of the page (would require lots of scrolling).

Thread linking
Any public Explorer can now be linked to any Forum thread. Once linked, the Explorer will be displayed at the top of the thread, making it easy to discuss your Explorer with others, or discuss another members Explorer. To link an Explorer, click Thread Tools > Thread Options on any thread youve started.
  • #60
  • Aug 14, 2016 3:12pm Aug 14, 2016 3:12pm
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...

I think those hedge funds are using max 1:3 leverage.

And lol nobody can achieve such results with a 10% rdd, not over the long term.
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