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$409k Challenge

  • #641
  • Jun 30, 2020 2:53pm Jun 30, 2020 2:53pm
Hello Mrdfx. I'd like to understand how do you take your trading decisions if for you isn't a problem.

Anyway, soon i will join the challenge too
  • #642
  • Jul 1, 2020 1:21am Jul 1, 2020 1:21am
Quoting mrdfx
No trading today guys. oOver the weekend I updated my Mac OS to Catalina and only after updating I found out that 32 bit programs are no longer supported which means MT4 for Mac can no longer work. I need to find another work around today so I can hopefully get back to trading tomorrow. If anyone has any suggestions please do share thanks.
I just turn back to Catalina... problem solved... wait for MT4/64
  • #643
  • Jul 1, 2020 2:50am Jul 1, 2020 2:50am
Quoting MrGreen95
Hello Mrdfx. I'd like to understand how do you take your trading decisions if for you isn't a problem. Anyway, soon i will join the challenge too
I'd love to know the secret too!
  • #644
  • Jul 1, 2020 3:53am Jul 1, 2020 3:53am
Quoting BlackNapkins
{quote} I just turn back to Catalina... problem solved... wait for MT4/64
Mt4 will not have x64 build. It's EOL
Try don't lose pants never...
  • #645
  • Jul 1, 2020 3:59am Jul 1, 2020 3:59am
Quoting braintheboss
{quote} Mt4 will not have x64 build. It's EOL
SO, will Catalina stop working one day? Everything has own end, If I will be pressed to change something I will, so far nothing is wrong, stay with Calalina till my EOL.
  • #646
  • Jul 1, 2020 4:20am Jul 1, 2020 4:20am
Quoting BlackNapkins
{quote} SO, will Catalina stop working one day? Everything has own end, If I will be pressed to change something I will, so far nothing is wrong, stay with Calalina till my EOL.
Mt4 will not disappear while brokers use it ( this is a CEO comment ) but they will not help you to continue using it. Last build ( b1264 ) broke compiler ( mt5 was affected too ). When I was talking with coder for fix it, he did it for mt5 but told me he will not fix it for mt4 because is unsupported since long time ago. Then you can get an idea about you can expect in the future.
Try don't lose pants never...
  • #647
  • Jul 1, 2020 5:31am Jul 1, 2020 5:31am
My Trade Explorer is ready for challenge. As i can't trade everyday so i will be a lot slower than you to reach target. Your journey is really impressive so far. It won't be easy but lets find out if i can survive. I will pop by time to time for inspiration to see how you all doing
Be Greedy
Dices Return This Week: na
  • #648
  • Jul 1, 2020 5:56am Jul 1, 2020 5:56am
Yeah I'm going to try again. He is such an inspiration!
  • #649
  • Jul 1, 2020 6:38am Jul 1, 2020 6:38am
Quoting braintheboss
{quote} Mt4 will not disappear while brokers use it ( this is a CEO comment ) but they will not help you to continue using it. Last build ( b1264 ) broke compiler ( mt5 was affected too ). When I was talking with coder for fix it, he did it for mt5 but told me he will not fix it for mt4 because is unsupported since long time ago. Then you can get an idea about you can expect in the future.
Thank you very mach for this comments... much appreciated
  • #650
  • Jul 1, 2020 7:02am Jul 1, 2020 7:02am
So after the big boys had decided to dump Yen to balance their books at the end of 2Q, I managed to finally recover the drawdown and close in profit adding +9.5% to the account.

It was so frustrating yesterday not understanding why suddenly Yen was getting dumped for no fundamental or economical reasons when technically it was a buy, and the during the Asian session seeing the market reversing back to the correct direction.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-07-01 at 08.56.05.png Size: 199 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #651
  • Jul 1, 2020 7:02am Jul 1, 2020 7:02am
Quoting OnlineAddict
Keep it up, good luck!
Thanks OnlineAddict!
Truth is like poetry. And most people f*cking hate poetry.
  • #652
  • Jul 1, 2020 7:03am Jul 1, 2020 7:03am
Quoting MrGreen95
Hello Mrdfx. I'd like to understand how do you take your trading decisions if for you isn't a problem. Anyway, soon i will join the challenge too
I've covered the way I trade a few times already in the thread.

Its nothing special really, mostly looking at what price is doing on the higher time frames and scalping on the lower time frames.

I only have one indicator on my chart and that's the TMA which I use as a visual aid to look for momentum and price extremes, nothing more.
Truth is like poetry. And most people f*cking hate poetry.
  • #653
  • Jul 2, 2020 7:18am Jul 2, 2020 7:18am
You should focus more on RM and MM now that you have reached $ 1k. Two days ago you were at 54% drowdown in a bullish moment on EUR / JPY and you were lucky that the 2nd day fell and you came out with 5% profit. You will not be able to reach 409k in this trading style. Risk less and let the winning trades go. This is the lesson I learned not long ago and I'm starting to become consistent. This is the most important thing for me, to have a small drowdown, to have patience, and to know how much to lose and where to get out of the trade because you can find an entry strategy at any time, but it is important to know where to get out. My acc with proper risk management and trade with 0.01 lots:
Attached Image
  • #654
  • Jul 2, 2020 8:22am Jul 2, 2020 8:22am
Quoting edybede
You should focus more on RM and MM now that you have reached $ 1k. Two days ago you were at 54% drowdown in a bullish moment on EUR / JPY and you were lucky that the 2nd day fell and you came out with 5% profit. You will not be able to reach 409k in this trading style. Risk less and let the winning trades go. This is the lesson I learned not long ago and I'm starting to become consistent. This is the most important thing for me, to have a small drowdown, to have patience, and to know how much to lose and where to get out of the trade because you...
High return comes from high risk. From time to time you will have a high draw down when building account. There are so many different ways to build account. You can reduce your risk as account grow. One of well written by Abokwaik here. I do agree with you too that one should know when to get out (SL or TP)
Anyway i added +17% for a week and long way to go
Be Greedy
Dices Return This Week: na
  • #655
  • Jul 2, 2020 8:26am Jul 2, 2020 8:26am
Quoting mrdfx
So after the big boys had decided to dump Yen to balance their books at the end of 2Q, I managed to finally recover the drawdown and close in profit adding +9.5% to the account. It was so frustrating yesterday not understanding why suddenly Yen was getting dumped for no fundamental or economical reasons when technically it was a buy, and the during the Asian session seeing the market reversing back to the correct direction. {image}

Wow! That's impressive. Hope you can do it and prove it's possible. Even being aggressive on MM. =p

I'm also doing it. Trying 1% or 2% a day. So far soo good.

Good Luck!
  • #656
  • Jul 2, 2020 12:12pm Jul 2, 2020 12:12pm
Quoting willfant
{quote} Wow! That's impressive. Hope you can do it and prove it's possible. Even being aggressive on MM. =p I'm also doing it. Trying 1% or 2% a day. So far soo good. Good Luck!
0.5 lots on 100$ account is instant killer. Risk management is the first thing to learn after you have a strategy, whatever the strategy is. believe me. lower your risk or your account will be 0 in few days.
  • #657
  • Jul 2, 2020 12:39pm Jul 2, 2020 12:39pm
Quoting edybede
{quote} 0.5 lots on 100$ account is instant killer. Risk management is the first thing to learn after you have a strategy, whatever the strategy is. believe me. lower your risk or your account will be 0 in few days.
Yes I know and you're 100% right. But won't let me accout to drop to zero in one trade. And I don't always do that. Most of my trades are between 0.01 and 0.02.

I only do that in specific situations and if doesn't work I'll close it.

But anyway, you're right.
  • #658
  • Jul 2, 2020 2:19pm Jul 2, 2020 2:19pm
Quoting willfant
{quote} Yes I know and you're 100% right. But won't let me accout to drop to zero in one trade. And I don't always do that. Most of my trades are between 0.01 and 0.02. I only do that in specific situations and if doesn't work I'll close it. But anyway, you're right.
if you reduce your losses, even if you lose 20-30% of the account, even 50% so you don't lose the whole account. in the past I can't stand a loss and we keep adding positions on the loss and add and add until the end we reach the call because i didn't have an SL set somewhere. Set an SL away somewhere and don't move it from there. It will help you even if you lose half your account, at least you don't lose everything. If the move is strong against you, get out as soon as possible. Don't expect the trade to turn in your favor. Just some advice.

Green pips.
  • #659
  • Jul 2, 2020 2:56pm Jul 2, 2020 2:56pm
Quoting edybede
{quote} 0.5 lots on 100$ account is instant killer. Risk management is the first thing to learn after you have a strategy, whatever the strategy is. believe me. lower your risk or your account will be 0 in few days.
Instant killer? Thats 1:20 leverage...500 pips for major pairs is not something to be happening overnight...
Everyone can see the chart, but only a few can actually read it.
  • #660
  • Jul 2, 2020 10:28pm Jul 2, 2020 10:28pm
Quoting edybede
{quote} 0.5 lots on 100$ account is instant killer. Risk management is the first thing to learn after you have a strategy, whatever the strategy is. believe me. lower your risk or your account will be 0 in few days.
I think he already survives for 6 months, not a few days.
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