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$409k Challenge

  • #242
  • Mar 6, 2020 3:22am Mar 6, 2020 3:22am
Quoting anis40
{quote} yes no risk my trade with SL and TP no martinganl .no grid .....
SL is your risk ...
  • #243
  • Mar 6, 2020 2:25pm Mar 6, 2020 2:25pm
Good luck guys! I´m going to join the challenge next week!
  • #244
  • Mar 6, 2020 6:47pm Mar 6, 2020 6:47pm
Tough luck, don't give up. Try again. My goal is similar to yours, only difference is I using 3k to turn into 300k and I am using EA.
Pips Collector EA, No Martingale, No Grid
  • #245
  • Edited 8:31am Mar 7, 2020 6:01am | Edited 8:31am
Quoting huatboyz
Tough luck, don't give up. Try again. My goal is similar to yours, only difference is I using 3k to turn into 300k and I am using EA.
Wow if I had so many trades open at the same time I'd have a heart attack but it seems to work - your results are excellent. Are you basket trading?

Talking about basket trading I'm a basket case guys and that is the bottom line. My chart was quite clear and unambiguous, even yesterday afternoon, during newstime when we had some huge swings on Gold and yet I'm constantly going against the flow. Someone help me to follow my own rules!!

  • #246
  • Mar 10, 2020 9:09am Mar 10, 2020 9:09am
Its been a crazy week and with all this uncertain volatility in the markets I'm stepping on the side lines for now, and will continue when I see things start to stabilize a bit.
Truth is like poetry. And most people f*cking hate poetry.
  • #247
  • Mar 10, 2020 10:06am Mar 10, 2020 10:06am
Quoting mrdfx
Its been a crazy week and with all this uncertain volatility in the markets I'm stepping on the side lines for now, and will continue when I see things start to stabilize a bit.
( while it is 100% up to your feelings...) for scalping entries, and particularly gold, this may not be a bad market condition.
there is always, always another trade!!
  • #248
  • Mar 10, 2020 11:05am Mar 10, 2020 11:05am
Yes agree - it's not that bad especially GBPUSD and GBPJPY. Even Gold as long as you're short!

I really think that the problem with most of us is this mental thing that when the trade is going against, we must be right, can't possibly be wrong, it has to turn around and of course what happens? It doesn't!
First BIG mistake is entering too early when one is expecting a reversal. That is a crime especially when one is utilising filters.
Second BIG mistake is not cutting a losing trade as early as possible. If one is using a mental stop one has to be RUTHLESS and immediately cut the trade
If price does head back in the expected direction one can simply re-enter and if it doesn't then one has only lost 5 pips instead of 50 (or more)

Anyway I am refunding my live account overnight and we'll give it another go. This time in a disciplined manner and strictly by the rules
  • #249
  • Mar 10, 2020 11:13am Mar 10, 2020 11:13am
Quoting Mtinifx
Yes agree - it's not that bad especially GBPUSD and GBPJPY. Even Gold as long as you're short! I really think that the problem with most of us is this mental thing that when the trade is going against, we must be right, can't possibly be wrong, it has to turn around and of course what happens? It doesn't! First BIG mistake is entering too early when one is expecting a reversal. That is a crime especially when one is utilising filters. Second BIG mistake is not cutting a losing trade as early as possible. If one is using a mental stop one has to...
\
There is a contradiction here.

How can you say you want to trade in a disciplined manner and strictly by the rules and at the same time be ready to cut a losing trade?
So you are saying your disciplined manner and strict rules are just a tiny decision away from you throwing them out the window immediately and ruthlessly because the price moved?

Yes, this mental yo yo thing is something that apparently you have mastered.
  • #250
  • Mar 10, 2020 11:35am Mar 10, 2020 11:35am
Quoting OutThere
{quote} \ There is a contradiction here. How can you say you want to trade in a disciplined manner and strictly by the rules and at the same time be ready to cut a losing trade? So you are saying your disciplined manner and strict rules are just a tiny decision away from you throwing them out the window immediately and ruthlessly because the price moved? Yes, this mental yo yo thing is something that apparently you have mastered.
You may be seeing a contradiction where there is none. Unfortunately my friend, there is no 100% failsafe system. Mine is good I think and if I stick to the rules I should be generally OK but unfortunately there will always be the occasion when price goes against all the rules. As I said if one is using a mental stop THAT is the time to be ruthless. Whether a mental stop is good practice is debatable of course if one is not extremely disciplined indeed. This" mental yo yo thing" is almost certainly the reason why 99% of small traders end up burning through their accounts
  • #251
  • Mar 10, 2020 11:40am Mar 10, 2020 11:40am
Quoting Mtinifx
{quote} You may be seeing a contradiction where there is none. Unfortunately my friend, there is no 100% failsafe system. Mine is good I think and if I stick to the rules I should be generally OK but unfortunately there will always be the occasion when price goes against all the rules. As I said if one is using a mental stop THAT is the time to be ruthless. Whether a mental stop is good practice is debatable of course if one is not extremely disciplined indeed. This" mental yo yo thing" is almost certainly the reason why 99% of small traders end...
Well, you got this 'my rules are good until they are not' thing going which to me is equivalent to discretionary fly by the seat of your pants methods that in itself defies discipline and rules.
Okay, whatever works for you then.
  • #252
  • Mar 11, 2020 3:53am Mar 11, 2020 3:53am
Quoting OutThere
{quote} Well, you got this 'my rules are good until they are not' thing going which to me is equivalent to discretionary fly by the seat of your pants methods that in itself defies discipline and rules. Okay, whatever works for you then.
I'm not quite sure why you're getting involved with me friend - may I just suggest you stick to the thread content which is "$409k challenge" and refrain from making inane comments on other members posts. If you have something positive (with the emphasis on POSITIVE) to offer including charts on this subject then please let us see them. Thank you
  • #253
  • Mar 11, 2020 7:39am Mar 11, 2020 7:39am
Alright after last weeks stupid blunder its back to work and time to catch up!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-11 at 09.24.22.png Size: 135 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #254
  • Mar 11, 2020 8:19am Mar 11, 2020 8:19am
Good morning, the market has changed a lot with this virus problem and the oil war.

I was bought on the SP500 futures when the market literally collapsed. I was lucky that I wasn't too leveraged.

But let's go ahead. We will not give up on our goals.
Wellington Araujo
  • #255
  • Mar 11, 2020 8:38am Mar 11, 2020 8:38am
Quoting mrdfx
Alright after last weeks stupid blunder its back to work and time to catch up! {image}
Added a bit more.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-03-11 at 10.37.28.png Size: 154 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #256
  • Mar 11, 2020 4:33pm Mar 11, 2020 4:33pm
Quoting Mtinifx
{quote} I'm not quite sure why you're getting involved with me friend - may I just suggest you stick to the thread content which is "$409k challenge" and refrain from making inane comments on other members posts. If you have something positive (with the emphasis on POSITIVE) to offer including charts on this subject then please let us see them. Thank you
Why? Because this is a public forum and you made a comment and as far as I know, commenting on a comment is allowed.
You can stick to the thread content too. It doesn't ask how to trade with discipline and how to throw your discipline away when needed.
You can refrain from guru talk that you can't explain further if asked.

Out of respect for OP, I won't respond to you in this thread any more.
  • #257
  • Mar 11, 2020 4:50pm Mar 11, 2020 4:50pm
Quoting OutThere
{quote} Why? Because this is a public forum and you made a comment and as far as I know, commenting on a comment is allowed. You can stick to the thread content too. It doesn't ask how to trade with discipline and how to throw your discipline away when needed. You can refrain from guru talk that you can't explain further if asked. Out of respect for OP, I won't respond to you in this thread any more.
Incredible you have not appeared on this thread before nor have you entered the challenge nor have you posted any TE
The first time you appear is to criticise me -someone who is trying to take up the challenge!!
Are you following me around on FF to troll me mate? I think you are - from now you will be ignored
Not only do I suggest you don't reply anymore to my posts but also kindly remove your miserable arse off this thread until you intend to take up the challenge. Thank you
  • #258
  • Mar 11, 2020 5:01pm Mar 11, 2020 5:01pm
Quoting mrdfx
{quote} Added a bit more. {image}
i follow your thread but not trade you have beautiful talent never give up you can do it..
but never Released all egg one trade. good luck(manage lot size)
  • #259
  • Mar 11, 2020 6:20pm Mar 11, 2020 6:20pm
Your consistency is mind blowing. never seen anywhere. keep up with your work. I too tried few years back and failed due to lack of consistency in my trades and analysis.
  • #260
  • Mar 12, 2020 6:51am Mar 12, 2020 6:51am
Taken challenge from March 2nd with $50. Already up by 64%. The challenge has a lot of pressure and pleasure! we'll see what I will have by end of the month.

MM
MM
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