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$409k Challenge

  • #841
  • Aug 1, 2020 3:23am Aug 1, 2020 3:23am
Quoting mrdfx
Well damn what can I say, it was going good while it was going good hey. I got stuck in EU's strong bull run yesterday after being certain that it was going to pullback lower, but unfortunately its final push up higher during the Asian session put my account into the red, and then Murphy's Law today it has pulled back and is now reversing into what would have been a profit for me, well bugger it. My account isn't done, but I did lose the profit accumulated thus far, and a lot of time and effort building it up. This...
Your problem is not strategy. I still think is well planned but as is high leveraged then you depends so much about quality of your decisions. And evidently we are humans.

But this time I post for another reason. You posted a template with a few tools. One of them have an interesting behavior. I'm making a version for can plot past history ( i will use histogram 0/100% range ). I will post without expiration maybe next week if I can finish it. Basically range days you play with 50% levels and normal days with 100% range. If I'm not wrong about last week observations then you can almost mechanize trading avoiding have analyze much. This can give you a help for avoid bad days ( you can set small SL with safety )
Try don't lose pants never...
  • #842
  • Aug 1, 2020 1:12pm Aug 1, 2020 1:12pm
Quoting mrdfx
Well damn what can I say, it was going good while it was going good hey. I got stuck in EU's strong bull run yesterday after being certain that it was going to pullback lower, but unfortunately its final push up higher during the Asian session put my account into the red, and then Murphy's Law today it has pulled back and is now reversing into what would have been a profit for me, well bugger it. My account isn't done, but I did lose the profit accumulated thus far, and a lot of time and effort building it up. This...
Me too mate - really sorry that happened and I know exactly how you feel when I was over $700 up from a $50 start back in May and blew it in an couple of hours

You got caught by the FF fakey - the pigs always throw a fakey and they threw in a spike before the big move started.

I got caught by a falling knife - what I do now is go down to M1 - absolutely vital - and wait for clear MA cross before opening a reversal trade
  • #843
  • Aug 3, 2020 7:22am Aug 3, 2020 7:22am
Hey guys many thanks for all the kind words! Yes it was a good run and it took only a few trades and a strong unexpected EU bull run to wipe out virtually all previous gains. Ironically looking at EU now it completely reversed and all those orders that took me out would have paid me a very good profit! Oh well it is what it is, but at least I'm not done yet and will continue to climb back again this week, I know I can do it.

In light of what happened I've decided to approach this a little bit differently by still using the same strategy as it does work, but lowering the risk and exposure a little, which should hopefully have a safer result whilst still sticking to the original plan of achieving the end goal.

The biggest thing for me was lost time. Losing the money doesn't matter to me as much as I haven't actually lost my own money, but losing all the time spent building up the account getting half way through the challenge frustrates the hell out of me, but it's cool, I'll persevere and get this done. Thanks for all the support guys, you guys rock!
Truth is like poetry. And most people f*cking hate poetry.
  • #844
  • Aug 3, 2020 8:10am Aug 3, 2020 8:10am
Yes I know exactly how you feel . It is very hard work every day building up an account balance - especially if one is starting with only $50 or maybe $100 !!

Well I have decided to rather go with a prop firm - it's so much easier trading a with an account balance of 25k (or 50k or even 100k if you wanna pay for it)
  • #845
  • Aug 3, 2020 2:43pm Aug 3, 2020 2:43pm
Break a leg sir, I love challenges like this.

I will be very surprised if you don't encounter some 'broker risk' though, every time your account reaches the ~1000% gain territory. It seems like we become a target after a certain level of success. Maybe that's paranoia but I speak from hard experience. I wish I had a solution for it. Multiple brokers maybe.
  • #846
  • Aug 4, 2020 2:22am Aug 4, 2020 2:22am
Quoting mrdfx
Hey guys many thanks for all the kind words! Yes it was a good run and it took only a few trades and a strong unexpected EU bull run to wipe out virtually all previous gains. Ironically looking at EU now it completely reversed and all those orders that took me out would have paid me a very good profit! Oh well it is what it is, but at least I'm not done yet and will continue to climb back again this week, I know I can do it. In light of what happened I've decided to approach this a little bit differently by still using the same strategy...

You have brought up a crucial point here - time.

It is exactly the most important factor why your approach to achieve tremendous gains percentage wise is extremely unattractive.

I would bet you are going to fail over and over again before reaching your goal, not because you are a bad trader, but because your target is just pushed way too far. By starting with 10k instead of lousy 100 bucks you would have been done already, or at least close to... and still got an impressive result percentage wise btw. Same trades, same time period, whole different story.

So instead of overstretching your odds by setting your target too high and/or starting with ridiculous small money (although i understand the urge of risking close to no own money) you are in fact wasting the only ressource we all are brutally limited on - time.

But what do i know.
  • #847
  • Aug 4, 2020 6:14am Aug 4, 2020 6:14am
Quoting mrdfx
Hey guys many thanks for all the kind words! Yes it was a good run and it took only a few trades and a strong unexpected EU bull run to wipe out virtually all previous gains. Ironically looking at EU now it completely reversed and all those orders that took me out would have paid me a very good profit! Oh well it is what it is, but at least I'm not done yet and will continue to climb back again this week, I know I can do it. In light of what happened I've decided to approach this a little bit differently by still using the same strategy...
We are waiting for you with clean sheet
  • #848
  • Aug 4, 2020 7:44am Aug 4, 2020 7:44am
Quoting mrdfx
Hey guys many thanks for all the kind words! Yes it was a good run and it took only a few trades and a strong unexpected EU bull run to wipe out virtually all previous gains. Ironically looking at EU now it completely reversed and all those orders that took me out would have paid me a very good profit! Oh well it is what it is, but at least I'm not done yet and will continue to climb back again this week, I know I can do it. In light of what happened I've decided to approach this a little bit differently by still using the same strategy...
by the way yesterday i opened xauusd long position. unfortunately it stopped today.
i bought half of my losing today so far.
The analysis of my transactions is below. I forward to inspire
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  • #849
  • Aug 4, 2020 8:17am Aug 4, 2020 8:17am
Quoting Drolph
{quote} You have brought up a crucial point here - time. It is exactly the most important factor why your approach to achieve tremendous gains percentage wise is extremely unattractive. I would bet you are going to fail over and over again before reaching your goal, not because you are a bad trader, but because your target is just pushed way too far. By starting with 10k instead of lousy 100 bucks you would have been done already, or at least close to... and still got an impressive result percentage wise btw. Same trades, same time period, whole...
Only trade with money that you are happy to lose. That is the golden rule. If you don't mind probably losing ten grand by all means open an $10k live account.

I'm happy to lose a 100 bucks - well I don't like losing any money but I can live with it, but losing ten grand would definitely give me a few sleeepless nights!
  • #850
  • Edited 12:02pm Aug 4, 2020 10:12am | Edited 12:02pm
Quoting P.Action
{quote} by the way yesterday i opened xauusd long position. unfortunately it stopped today. i bought half of my losing today so far. The analysis of my transactions is below. I forward to inspire {image}
what can i say

Attached Image (click to enlarge)
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  • #851
  • Aug 4, 2020 10:18am Aug 4, 2020 10:18am
Quoting P.Action
{quote} end of the day, end of the week, end of the July is below {image}
I'm fine despite the gold event.
end of the day


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  • #852
  • Aug 5, 2020 8:59am Aug 5, 2020 8:59am
Alright back in business and back to the top again I go. +7.4%.
Attached Image (click to enlarge)
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Truth is like poetry. And most people f*cking hate poetry.
  • #853
  • Aug 5, 2020 9:51am Aug 5, 2020 9:51am
Quoting P.Action
{quote} I'm fine despite the gold event. end of the day {image}
end of the day. +%11,4

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  • #854
  • Aug 5, 2020 9:51am Aug 5, 2020 9:51am
Quoting mrdfx
Alright back in business and back to the top again I go. +7.4%. {image}
wellcome back
  • #855
  • Aug 5, 2020 4:13pm Aug 5, 2020 4:13pm
Not look good. I have see this deeper In a few days I will find how make this work as TP/SL in a reliable way
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Try don't lose pants never...
  • #856
  • Aug 6, 2020 9:47am Aug 6, 2020 9:47am
Its been a good day adding +26.3%.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2020-08-06 at 11.46.27.png Size: 204 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #857
  • Edited 12:18pm Aug 6, 2020 11:56am | Edited 12:18pm
I finished tool. I only need add signal rules.

Capture shows how works original code. As take current ADR for make central area pivot then it moves along day. This allow adjust area to price forcing extreme area touches but it can make fake signals too.

I want see if is better let fixed PP or as original tool. I have an idea how make useful exits with this tool ( if you use small TPs as thread strategy ). The only thing not clear is how play with area breaks
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot (21).png Size: 64 KB
Click to Enlarge Name: Screenshot (23).png Size: 61 KB
Try don't lose pants never...
  • #858
  • Aug 6, 2020 12:18pm Aug 6, 2020 12:18pm
Quoting braintheboss
I finished tool itself. I only need add signal rules. Capture shows how works original code. As take current ADR for make central area pivot then it moves along day. This allow adjust area to price forcing extreme area touches but it can make fake signals too. I want see if is better let fixed PP or as original tool. I have an idea how make useful exits with this tool ( if you use small TPs as thread strategy ). The only thing not clear is how play with area breaks {image} {image} {image}
Are you going to share your indicator? maybe we can help you finding some bugs or improvements.
  • #859
  • Aug 6, 2020 12:33pm Aug 6, 2020 12:33pm
Quoting ellokko007
{quote} Are you going to share your indicator? maybe we can help you finding some bugs or improvements.
I will when I finish rules. Not sure if I will have it for this weekend. Anyway original indicator is posted here if you want play with it while I have mine done

https://www.forexfactory.com/thread/...8#post13071388
Try don't lose pants never...
  • #860
  • Aug 6, 2020 1:06pm Aug 6, 2020 1:06pm
Quoting braintheboss
{quote} I will when I finish rules. Not sure if I will have it for this weekend. Anyway original indicator is posted here if you want play with it while I have mine done https://www.forexfactory.com/thread/...8#post13071388
Thanks I use similar ones because I trade with mt5.


Maybe you can think about programming it in mt5 too
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