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  • #2,541
  • Jul 24, 2021 8:25am Jul 24, 2021 8:25am
Quoting navk
{quote} I do not trade gold but my wife trades gold. I trade only GU. Only. I know how GU moves, predictable. It follows a cycle every 3 days or some times more days. I follow daily, 4hr support or resistance as basis of my trades. I could see that GU has formed " some sort " of resistance at 3787. Will be able to confirm if that is the daily resistance for this new cycle, I can do this on Monday open. The weakness persists ...but i want to see a real resiatnce at 3787. Once that is confirmed....all the way...100 pips down. If you confirm daily...
Ha ha - you mean your wife WEARS gold Navk! The girls all love gold!
  • #2,542
  • Jul 24, 2021 8:29am Jul 24, 2021 8:29am
Quoting Mtinifx
{quote} Ha ha - you mean your wife WEARS gold Navk! The girls all love gold!
that 5k is too much of a money in a day.

I immediately did the calculation.

5k x 0.8 = 4k.....yours.

Intraday only.
  • #2,543
  • Jul 24, 2021 8:38am Jul 24, 2021 8:38am
Guys I was just showing what IS possible. However it is a LOT more diffcult then it looks of course to hang on to those winning trades.

Did anyone spot the missing trade? Yep, one could have sold again at 1803.50 TP 1798.50

Another $2500 giving a total of around 17k. You get paid 80% of that = $13600

So in one day one could conceivably make all that money! Sure these good days don't come along that often which is why one should be making hay while the sun shines

Can't believe that some people don't think that it's a good idea to let your winners run. Oh boy. No wonder 95% - 99% are losing

Guys watch this video. If you wanna scalp then this bloke can help. He knows what he's talking about (Tom Hougaard)

Inserted Video
  • #2,544
  • Jul 24, 2021 9:44am Jul 24, 2021 9:44am
Quoting Mtinifx
{quote} Navk, we've got to get our act together. All of us aspiring millionaires! When you think about it, It's a profit of around 17k. The ridiculous thing is that one can conceivably almost make that in just a few hours. But you have to eliminate the fear (so easy!!) and have a decent technical chart, read candles properly, and a good understanding of the particular commodity one is trading. I like trading Gold and I know it's intricacies and how it moves and usually the targets. Yet I'm still picking off scalps instead of trading the trend. Like...
TBH, the statement "one can conceivably almost make that in just a few hours" is why 95% of people are failing challenges. Yes, you can get lucky, but to make that profit in a few hours is simply WAY too much risk. Of course, one could go heavy, but when doing so, get that stop to BE as quickly as possible and hope for a runner. You will wind up with a lot of BEs and a lot of small losses, but hopefully a runner or two per month
  • #2,545
  • Jul 24, 2021 10:59am Jul 24, 2021 10:59am
Quoting pipmaster77
{quote} TBH, the statement "one can conceivably almost make that in just a few hours" is why 95% of people are failing challenges. Yes, you can get lucky, but to make that profit in a few hours is simply WAY too much risk. Of course, one could go heavy, but when doing so, get that stop to BE as quickly as possible and hope for a runner. You will wind up with a lot of BEs and a lot of small losses, but hopefully a runner or two per month
Evaluation live..one can trade cautiously.

Challenge... the speed is needed IMO.
Intraday only.
  • #2,546
  • Jul 24, 2021 11:02am Jul 24, 2021 11:02am
All said and done... one has to trade the plan. Not to trade emotionally.

With whatever lot size which you decide based on whatever tech. system you follow.
Intraday only.
  • #2,547
  • Jul 24, 2021 11:19am Jul 24, 2021 11:19am
Quoting navk
{quote} Evaluation live..one can trade cautiously. Challenge... the speed is needed IMO.
With 20 days, you need to average $400 per day (MFF) or $500 per day (FTMO). If you fall short, you go again for free. Don't get me wrong, I do go heavier intraday when I love the setup, but me going "heavy" is like 5:1 leverage. You need 20 pips a day (MFF) and 25 (FTMO) with only 2:1 leverage to hit the mark. Why on earth would anyone be trying to make $17K in "a few hours"?

Everyone is looking for that home run, that lambo type, you tube worthy payout. Look at the big picture everyone, if you max out MFF and FTMO, before scaling, you are trading 1 million and you can get there by reinvesting profits. If you can make 3% per month, your split results in a 300K annual income.

Just my opinion, but I'd rather grind for 12-18 months to get there (I will be there by the end of this year) than to keep swinging for the fences and paying for challenges over and over.

As you mentioned, everyone has their own system and risk management, but 95% are failing, so to me that speaks volumes.
  • #2,548
  • Jul 24, 2021 11:29am Jul 24, 2021 11:29am
takis said somewhere in past pages how he makes his money. its bassically 1-2 trades.

hitting a benchmark everyday aint easy, not for me
offering my system to copy trade. check my link
  • #2,549
  • Edited 11:55am Jul 24, 2021 11:36am | Edited 11:55am
Quoting pipmaster77
{quote} With 20 days, you need to average $400 per day (MFF) or $500 per day (FTMO). If you fall short, you go again for free. Don't get me wrong, I do go heavier intraday when I love the setup, but me going "heavy" is like 5:1 leverage. You need 20 pips a day (MFF) and 25 (FTMO) with only 2:1 leverage to hit the mark. Why on earth would anyone be trying to make $17K in "a few hours"? Everyone is looking for that home run, that lambo type, you tube worthy payout. Look at the big picture everyone, if you max out MFF and FTMO, before scaling, you...
I would not like to take more than 10 days.

For challenge.

When averaging out, one can look to book 850 dollar a day. ( mff )

Which means, one can follow in this way :

- A set up that gives a clear 30 pips with 3 lots a day.

- But then, if the potential of the trade set up is more..why you get out with 30 pips?

- Look for a set up by which your stop not to exceed 30 to 40 pips. This is more important.

- Having said that, you can trade such set ups with 3 ( or 4 lots ) lots. If the yield is more than 40 pips ( or 1200 dollar ) why look for 30 pips ?

- In a set up, in which the stop is just less than 10 pips ( scalping ), I would rather avoid such set ups.

- Emotional trading to be totally stopped. ( News events ) Fast buck.

PS :

The reason, why I want to finish in 10 days, one may not get clear 30 to 40 pips set up every day. And stops hitting some days.

In that case additional 10 days is cushion.
Intraday only.
  • #2,550
  • Jul 24, 2021 12:48pm Jul 24, 2021 12:48pm
Quoting navk
{quote} I would not like to take more than 10 days. For challenge. When averaging out, one can look to book 850 dollar a day. ( mff ) Which means, one can follow in this way : - A set up that gives a clear 30 pips with 3 lots a day. - But then, if the potential of the trade set up is more..why you get out with 30 pips? - Look for a set up by which your stop not to exceed 30 to 40 pips. This is more important. - Having said that, you can trade such set ups with 3 ( or 4 lots ) lots. If the yield is more than 40 pips ( or 1200 dollar ) why look for...
Yes, I completed my last stage 2, 5K profit in 8 days, 2 of the days were small losses, the winning days were all 1K+. I'm not saying you need to exit after 20 or 25 pips, my target is usually 100 pips or more (depending on the pair), when I get confirmation to exit I do, sometimes they run all the way. Sometimes, like nikosk0, grab half, stop to be. Every day is different, obviously. My point is simply that people are failing these challenges because for some reason they feel the need to complete it in 1-2 days. We all want to get it done in the minimum amount of time, but, if you can just grind out 0.4-0.5% per day, I just feel it's a less risky approach.
  • #2,551
  • Jul 24, 2021 12:57pm Jul 24, 2021 12:57pm
Quoting nikosk0
takis said somewhere in past pages how he makes his money. its bassically 1-2 trades. hitting a benchmark everyday aint easy, not for me
I agree 100%. It is usually a few trades that make my month as well or a few pairs that I keep hammering the same set-up over and over. Yes, trying to hit a certain number every day is difficult, my rule with the prop firms is 1% loss in a day I'm done, 1.5% gain, I'm done. 9 out of 10 days fall somewhere in between.
  • #2,552
  • Jul 24, 2021 1:13pm Jul 24, 2021 1:13pm
Quoting Mtinifx
{quote} Is 5 lots too much on a 100k account? Maybe. If one is scalping, yes for sure. I mean opening multiple trades during the day. As you said, the answer is to bring up one's SL to BE as soon as possible. Instead of taking maybe 5 pips as most scalpers would and then constantly looking for new trades (most of which will probably end up losers), the secret is to continually move one's SL up (or down) thus locking in as much profit as possible. Maybe this sounds like old hat to most of us, but how many of us are actually DOING it! If one is trading...
IMO, I would say $50/pip (5 lots) would be the absolute max on a 100K account and you better be precise, 10 pips your down 0.5% and 20 pips is 1%, in which case I'd be done for the day. There is obviously more than one way to win this game, not saying what anyone is doing is not correct, but to me, it's all about the risk. I know my trading has an edge, therefore I do not worry about the profit, it will always come, but I need to be around tomorrow to get it.
  • #2,553
  • Jul 24, 2021 1:40pm Jul 24, 2021 1:40pm
Quoting Mtinifx
{quote} Is 5 lots too much on a 100k account? Maybe. If one is scalping, yes for sure. I mean opening multiple trades during the day. As you said, the answer is to bring up one's SL to BE as soon as possible. Instead of taking maybe 5 pips as most scalpers would and then constantly looking for new trades (most of which will probably end up losers), the secret is to continually move one's SL up (or down) thus locking in as much profit as possible. Maybe this sounds like old hat to most of us, but how many of us are actually DOING it! If one is trading...
when using tight stops you'd better reduce your risk. friendly advice

on a 25 pip stop trade on eu i got 10 pip slipage on my live. its rare but it happens. and thats an extra 33% loss.
imagine getting 10 pip slipage on 5 pip stop using normal risk. that would be the loss x3

i took that loss both on my live acount and 5ers summer plan. i lost 350 instead of 250 (didnt count as violation)

my aproach in general is build a buffer to go positive and then risk 1-2%, stops based on 4hrs, trail the 1m the moment it goes in my favour. but i always cut losses early and rarelly if ever, my actuall stop gets hit, once i dont like the ltf anymore i get out no matter how much i like the 4hrs or the daily.

so my average win/loss after the buffer is 0.2-0.5% but my good wins 2-3 a month are above 4%.
ahving a buffer is the most important factor for me, evaluation,live whatever the case might be, take the anxiety away

so on 200k i start with 3-5 lots on 1st week and trade up to 10-20-30-40 lots thereafter, depends on the stop.

ps. i deleted previous posts since they were irrelevant to the thread
offering my system to copy trade. check my link
  • #2,554
  • Jul 24, 2021 1:56pm Jul 24, 2021 1:56pm
A set up that offers 30 to 40 pips stop is preferable, and you calculate lot size accordingly.

As I mentioned in my previous post, it is highly unlikely I trade a set up for which the stop is less than 10 pips.

If 10 pips is stop loss, you tend to trade bigger lot size.. and chance of loosing all is likely.
Intraday only.
  • #2,555
  • Jul 24, 2021 6:07pm Jul 24, 2021 6:07pm
Quoting Horne
{quote} After passing the verification, I had a losing month first month live. After recouping that loss I finally had profitable month and received first profit split (plus some of the money in my vault which I've paid towards challenges).
Thanks for sharing your journey so far with Enfoid.

Well done on recovering the losses by successfully trading your account back into profitable territory and taking a well earned profit split.

Kudos to you.

Masterrmind .........
Master your Mind then Master your Trades
  • #2,556
  • Jul 24, 2021 6:43pm Jul 24, 2021 6:43pm
Quoting pipmaster77
{quote} I agree 100%. It is usually a few trades that make my month as well or a few pairs that I keep hammering the same set-up over and over. Yes, trying to hit a certain number every day is difficult, my rule with the prop firms is 1% loss in a day I'm done, 1.5% gain, I'm done. 9 out of 10 days fall somewhere in between.
how much risk % per trade do you reckon for the challenges giving a fairly good trading system with positive expectancy say ( 60% winning ratio, rr 1:2)?
  • #2,557
  • Jul 24, 2021 6:54pm Jul 24, 2021 6:54pm
Quoting pipmaster77
{quote} Yes, I completed my last stage 2, 5K profit in 8 days, 2 of the days were small losses, the winning days were all 1K+. I'm not saying you need to exit after 20 or 25 pips, my target is usually 100 pips or more (depending on the pair), when I get confirmation to exit I do, sometimes they run all the way. Sometimes, like nikosk0, grab half, stop to be. Every day is different, obviously. My point is simply that people are failing these challenges because for some reason they feel the need to complete it in 1-2 days. We all want to get it done...
Certainly less risky by the numbers.

However, in the FTMO thread early on Leweg1 passed the challenge but failed the verification applying identical risk management with about a 1% risk per trade.

How did he fail ?

Account basically 'bled out' with a multiple trade losing streak until max DD was tagged.

It's not always just about the risk, sometimes the market humbles you.

Masterrmind ..........
Master your Mind then Master your Trades
  • #2,558
  • Jul 24, 2021 6:58pm Jul 24, 2021 6:58pm
I love it when people take memes and make them their own. https://myforexfunds.com/pizzaparty/

Anyone remember the free pizza stuff when MFF launched the evaluation? I'm gonna get a pineapple pizza just to trigger everyone.
  • #2,559
  • Jul 24, 2021 8:32pm Jul 24, 2021 8:32pm
Quoting wealthminers
{quote} how much risk % per trade do you reckon for the challenges giving a fairly good trading system with positive expectancy say ( 60% winning ratio, rr 1:2)?
You have a system that has a RR of 1:2 and a win rate of 60% ???

With a system such as this you hold the 'holy grail' within your hands.

Highly unlikely afraid to say.

If true I would allocate 2% to 5% per trade in a personal account.

Prop Firm account 1.5% to 3.5% per trade with a trade management plan in place to stay within trading objectives. Most likely I would have the above risk halved until x% gain is made ... then ramp it up to the max risk above ensuring trading objectives are not breached.

ps. if you google RR calculations you will eventually find a formula to calculate appropriate risk% per trade but I'll leave that to you to do.

Best of trading,

Masterrmind ........
Master your Mind then Master your Trades
  • #2,560
  • Jul 24, 2021 9:09pm Jul 24, 2021 9:09pm
Quoting Masterrmind
{quote} You have a system that has a RR of 1:2 and a win rate of 60% ??? With a system such as this you hold the 'holy grail' within your hands. Highly unlikely afraid to say. If true I would allocate 2% to 5% per trade in a personal account. Prop Firm account 1.5% to 3.5% per trade with a trade management plan in place to stay within trading objectives. Most likely I would have the above risk halved until x% gain is made ... then ramp it up to the max risk above ensuring trading objectives are not breached. ps. if you google RR calculations you...
Thanks Masterrmind,

yeah, i do risk max 3% on personal account, will likely do 0.5 to 1.5 on challenge account and work my way up. I trade indices (us100, us30 , us500) and USOIL only. Hopefully, these prop firms have a nice spread on these instrument, am looking to start with ftmo 50k challenge and work my way up to the max out ftmo 400k capital with profits from subsequent challenges within 7 months duration.
I hope it's a nice plan and achievable?
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