$409k Challenge

Hey everyone thanks for passing by and checking out my personal journal. So I came across this "trading plan" and it interested me, so I've decided to give it a shot. This will be a personal journal to document and track my progress throughout the year.

Basically this isn't an actual trading strategy, its more of an aggressive money management approach using compounding logic. I'm sure many of you would have seen it somewhere before and probably many have attempted it as well I'm sure.

The approach is to start with $100 and target 5% a day for a year and after that with the power of compounding I should finish with $409k. I know its sounds crazy and impossible, but I believe it is achievable if approached the right way.

I've adapted the initial daily and weekly targets to my style of trading and I will try to achieve the 5% daily target and 25% weekly target, although I know there are not always trading opportunities everyday. Also depending on what the market offers I might make less than the 5% and sometimes more, I take what the market gives me. As far as lot sizing goes I'll keep the targeted set lot size and only increase when I complete the month and move up to the next stage of the challenge.

How I trade this challenge:

https://www.forexfactory.com/showthr...4#post12786224
https://www.forexfactory.com/showthr...7#post12749357
https://www.forexfactory.com/showthr...3#post13004843
https://www.forexfactory.com/showthr...5#post12717325
https://www.forexfactory.com/showthr...2#post13036272
https://www.forexfactory.com/showthr...7#post13048057
https://www.forexfactory.com/showthr...1#post13056431
https://www.forexfactory.com/showthr...2#post12934632
https://www.forexfactory.com/showthr...3#post12719363
https://www.forexfactory.com/showthr...8#post13071388

My MM for the challenge:

https://www.forexfactory.com/showthr...7#post12715537
https://www.forexfactory.com/showthr...7#post12992657
https://www.forexfactory.com/showthr...3#post13040803

I've linked the live TE so you can monitor and track my progress, but while I'm trading and there are open orders I will hide the TE and once all orders are closed I will make it public again. By doing so it will prevent people from trying to copy my trades, but still allow members to check out the account stats and follow along.

Lastly this is my personal journal documenting my trading as I attempt the $409k challenge. I have no problems with constructive criticism, positive advice and suggestions etc, but I will not tolerate any negativity or attitude. If you want to post in my journal please respect it if not then I will have to remove you. Thanks.

Here's to a successful and profitable 2020!

I join your challenge!
Let's make it!
LOT sizes a bit risky but why not, worth a try

Hey man Good Luck

1 bit off advice do some withdraws so is not all lost because if you withdraw you wont feel bad! But its achievable alright if you have a startegy that can get you to 10pips a day! I mgiht join in!

Here are another
couple for your evaluation.
R

https://www.forexfactory.com/showthr...1#post12622151

Subbed and good luck pal!

Good luck.

Hello guys and thanks for stopping by.

Today I had a dentist appointment and missed this morning session and by the time I got back to my office there was no real good opportunities for today. It's ok and to be expected, sometimes life gets in the way of trading and sometimes the market is just not happening.

This is a journey not a race and there is still a long way to go but we are off to a good start.

50 pips per week is not hard......What will be interesting when folks reach the large lot size......Pressure.
I like having fun so started your plan to-day...Should have weeks target to-night for this plan....need to not neglect my real trading.
Lets party
R

Perhaps some one could make this chart into an excel sheet.
R

you got it,,, PRESSURE
Trade well.

Update to post 9
I should complete 3rd week to-night and start 2nd Month next week.....
R

Am I all alone here.
Worst scenario is that I loose $100 for some fun,however in saying this I do not like to have any losses.
R

Just taken another 30 pips.
R

Hey Ced74, welcome and thanks for joining in.

It seems you are way ahead already lol keep on it!

I have attached my Excel sheet to the first post.

Morning mrdfx,(12.28 a.m )
Thanks for the Excel Sheet..
Compounding...I have been doing this for many years .....Requires patience and and one must be prepared to stick to the plan..I split the bank at certain levels.
This method is good for folks with a small bank and small losses should things turn which can happen in a flash...Just look look at Gold and Iran.
I did post two other plans which are just another option..
Regards,
Ron

Another on my watch list in the coming days...Triple swap fees thursday so watch pairs carefully
R

January completed.

Today was a really good day and I manage to complete week 1 with a little extra in the tank for next week.

As I have already completed this weeks target of +25% I will only trade if I see a really good set up.