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$409k Challenge

  • #201
  • Mar 2, 2020 1:19am Mar 2, 2020 1:19am
Quoting Trader1971
Joining the journey. I'm a part time trader. I like the idea of compounding. Fantastic performance mrdfx.
Hello all,
Currently I am stuck at work. Will only start trading about 8 hours from now.
As a friend mentioned to me, not the best time to trade, beggars can't be choosers.
I just won't be able to follow the plan right to the end, my broker Pepperstone only offer max volume of 100 on XAUUSD
Currently I will only be trading XAUUSD.
Attached Image

I've created a spreadsheet to assist myself in achieving the goal.
Only 4 trades a day MAX. I try not to over trade and become greedy.
Attached File(s)
File Type: xlsx 409k CHALLENGE.xlsx   48 KB | 487 downloads

It is very risky and a level of skill and experience is a must!!
Created a trade explorer and lets see.
Best of luck to all doing this challenge!!
Green pips to all.
One can live in the shadow of an idea without grasping it.
  • #202
  • Mar 2, 2020 2:27am Mar 2, 2020 2:27am
Quoting Trader1971
{quote} Hello all, Currently I am stuck at work. Will only start trading about 8 hours from now. As a friend mentioned to me, not the best time to trade, beggars can't be choosers. I just won't be able to follow the plan right to the end, my broker Pepperstone only offer max volume of 100 on XAUUSD
That is 100 per trade, you can just make more than 1 trade.. if you are lucky enough to get that far
  • #203
  • Mar 2, 2020 5:56am Mar 2, 2020 5:56am
Happy Monday guys!

Its the beginning of the month and I added +8% to the account.
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Truth is like poetry. And most people f*cking hate poetry.
  • #205
  • Mar 2, 2020 9:33am Mar 2, 2020 9:33am
Quoting enzoforex
hello, today you have been at -50%, mediating sooner or later you lose. hello, today you have been at -50%, mediating sooner or later you lose.
but he had a good recovery.
but he had a good recovery.
Uncertainty of the market must be embraced and accepted.
  • #206
  • Mar 2, 2020 10:32am Mar 2, 2020 10:32am

MARCH COMPLETED!


Today I completed the 3rd month successfully achieving +700% profit and the month of March only just started!

Today I was not expecting to complete the month and make over +20%! I had initially made the +8% and I was happy with that, but then the trade manager glitched and opened more orders which it wasn't supposed to, and then of course the market started going in the opposite direction. I then loaded my recovery EA to try cost average out the extra orders and in doing so hit some unwanted high DD. Luckily Gold did turn as I was expecting and I managed to recover and still make profit achieving the monthly target ahead of schedule.

I need to get the trade manager checked out by the guy who gave it to me so it does not do this again. Besides that, it's been a great month and I had many great opportunities enabling me to reach this months target which now puts me 1 full month ahead of schedule. This big gap gives me a lot of breathing room and eases some of the pressure of needing to try trade everyday. That being said IF I see some good opportunities I'll def take them and IF the day is good I'll shoot for more than the +5% minimum, it will be stupid to leave profit on the table if it's there.

Cheers guys!
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Truth is like poetry. And most people f*cking hate poetry.
  • #207
  • Mar 2, 2020 10:44am Mar 2, 2020 10:44am
Hi guys

I am nearly +20% up (on a $50 account) I will try to post my trades later.

Very disappointing afternoon I have to say. Mostly sideways movement. my own fault for missing Frankfurt
  • #208
  • Edited 11:00am Mar 2, 2020 10:47am | Edited 11:00am
Quoting ultax
I have read through the whole thread. First of all congrats! Secondly, I was wondering if you can be a bit clearer with your strategy? I see you use the TMA and mention the daily trend... how are you gauging the daily trend and then using that on the lower timeframes? Wanting to join you on this challenge.
I use the TMA only as a visual aid not for making trade decisions. I actually don't use many indicators as I focus more on what price is doing. I do look at YDH, YDL, also DH and DL, ADR and market structure. I look at higher time frames (D1, H4) to see the overall trend direction and market structure and as I'm only aiming for 10 pips at a time I'll look at the lower time frames (M5, M15) for my entries.

When I do my analysis I take all these factors above to help make a better informed decision of what I think the price is going to do, I basically take all the information and try to increase the probability of 50/50. Of course sometimes it does take time for price to go in the direction I anticipated, but so far its worked out well.
Truth is like poetry. And most people f*cking hate poetry.
  • #209
  • Mar 2, 2020 11:49am Mar 2, 2020 11:49am
Great Trading mrdfx!!

I had a bit of a tough session, kicked of with a looser.
Had to do a bit off work to recover.
End the day +13.6%
One can live in the shadow of an idea without grasping it.
  • #210
  • Mar 2, 2020 2:17pm Mar 2, 2020 2:17pm
Quoting Trader1971
Great Trading mrdfx!! I had a bit of a tough session, kicked of with a looser. Had to do a bit off work to recover. End the day +13.6%
Nice start - well done!
  • #211
  • Mar 2, 2020 6:08pm Mar 2, 2020 6:08pm
Quoting mrdfx
{quote} I use the TMA only as a visual aid not for making trade decisions. I actually don't use many indicators as I focus more on what price is doing. I do look at YDH, YDL, also DH and DL, ADR and market structure. I look at higher time frames (D1, H4) to see the overall trend direction and market structure and as I'm only aiming for 10 pips at a time I'll look at the lower time frames (M5, M15) for my entries. When I do my analysis I take all these factors above to help make a better informed decision of what I think the price is going to do,...
i think if you dont stop to add to lose trades, so in other words averaging, then you will regret it later when you lose all your money with just 1-2 wrong trades, because not only money is then gone, more important all the time was for nothink.

actually you did not even reach 1000% win after 3 months, i did make sometimes 1000% in one day or week when i was playing, which is really not much for such risky strategys, i usually did lose after 10.000 percent gain such accounts which i did trade with simular strategys.

the markets are full of false signals, no matter which signals you have. just look to EURUSD how this pair is currently since few weeks playing again with all this averaging traders, which add to lose trades.

but this i dont tell just for you also for all other eyes which are reading. dont fool yourself with such thinks. adding to lose trades is a sure think that you will lose, better add sometimes to win trades.
  • #212
  • Mar 3, 2020 9:10am Mar 3, 2020 9:10am
Done for today.
+12.5%
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One can live in the shadow of an idea without grasping it.
  • #213
  • Mar 3, 2020 10:23am Mar 3, 2020 10:23am
37,8% on gold 2day...
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... need to cool down ...

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  • #214
  • Mar 4, 2020 3:07am Mar 4, 2020 3:07am
GD everyone

Got my TE up and running at last! Did not do anything yesterday, few trades today
  • #215
  • Mar 4, 2020 4:43am Mar 4, 2020 4:43am
Quoting FXTradings
{quote} i think if you dont stop to add to lose trades, so in other words averaging, then you will regret it later when you lose all your money with just 1-2 wrong trades, because not only money is then gone, more important all the time was for nothink. actually you did not even reach 1000% win after 3 months, i did make sometimes 1000% in one day or week when i was playing, which is really not much for such risky strategys, i usually did lose after 10.000 percent gain such accounts which i did trade with simular strategys. the markets are full...
I also use TMA along with higher time frame visualisation. TMA is definitely to be recommended - works on all time frames
  • #216
  • Mar 4, 2020 6:10am Mar 4, 2020 6:10am
Waiting for some action today, hopefully NY session gives us some volatility to capitalize on.

In the mean time here is the current Myfxbook stats for those that like to follow it.
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Truth is like poetry. And most people f*cking hate poetry.
  • #217
  • Mar 4, 2020 7:25am Mar 4, 2020 7:25am
Quoting mrdfx
Waiting for some action today, hopefully NY session gives us some volatility to capitalize on. In the mean time here is the current Myfxbook stats for those that like to follow it. {image} {image}
And there it is, +4.7 added for today.
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Truth is like poetry. And most people f*cking hate poetry.
  • #218
  • Mar 4, 2020 11:12am Mar 4, 2020 11:12am
Hi. I am new in the forum. How do I get your signals in real time? Is a notification possible here?
Attached Images
  • #219
  • Mar 4, 2020 11:47am Mar 4, 2020 11:47am
Quoting mrdfx
{quote} And there it is, +4.7 added for today. {image}
Are you scalping? Where can we find more about the method you're using?

Great job! I'm with you wishin you make it to the end of your goal.
Congratulations!!
  • #220
  • Mar 4, 2020 2:19pm Mar 4, 2020 2:19pm
Guys I may be wrong but I think this thread is more for those who have a trading system and are happy with it and want to use it as a vehicle to enter the 409k challenge and hopefully grow ones account accordingly. If you feel that you do not have not a good system you could firstly have a look at the "daily trading ideas" thread and try the akim system. Some people swear by it but it didn't suit my trading style. I do think forex is 90% mental and 10% whatever system one is trading!
If you want to check out TMA just search "tma" on forex factory - plenty of interesting stuff on TMA slope indi and "Extreme TMA system" , etc.
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