$25 to $25k in 10 days (by psymon) Quick Stats
Gain: -99.9%
Drawdown: 92.70%
Pips: 84.0
Trades: 19
Won:
Lost:
Type: Real
Leverage: 1:500
Trading: Manual

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$25 to $25k in 10 days Discussion
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horacioo

Member Since May 22, 2010  46 posts horacioo Apr 27 2011 at 17:29
you have my support.
you can do it!

tapachula

Member Since Mar 25, 2010  193 posts Miguel (tapachula) Apr 27 2011 at 18:47
Why are you cheating? I see 2 deposits of $25 each one, total deposit $50. So isnt 25 to 25K.

Just kidding, wish you success

Yeah i know my grammar sucks, I speak spanish. Sorry if something doesnt make sense ;)
psymon

Member Since Apr 01, 2011  61 posts Psymon (psymon) Apr 28 2011 at 03:45
tongue

its all down hill from here!
horacioo

Member Since May 22, 2010  46 posts horacioo Apr 28 2011 at 04:18
Hi Miguel,
In case you do not know,Psymon's trading challenge is explained in this other thread
http://www.myfxbook.com/community/new-traders/200-1000000/55779,4

Just in case, somebody really think he is cheating or a crazy newbee trying to make it big, I thought that I should just post a small link to his original idea.

If i was able to vouch, I would vouch for his guts 20 times.

psymon

Member Since Apr 01, 2011  61 posts Psymon (psymon) Apr 28 2011 at 07:49
H, Thanks buddy, the second trade has been done and i'm still in the game, although i got the tp wrong by 4 pips the trade went exactly to where i thought it would.

when i put in a trade i dont apply the tp at the time and go back to add it in, i guess that the price moved against me by 4 points and i'll take it into account on the next trade.

2 down 8 to go!

p

its all down hill from here!
tapachula

Member Since Mar 25, 2010  193 posts Miguel (tapachula) Apr 28 2011 at 15:57 (edited Apr 28 2011 at 15:57 )
horacioo posted:
    Hi Miguel,
In case you do not know,Psymon's trading challenge is explained in this other thread
http://www.myfxbook.com/community/new-traders/200-1000000/55779,4

Just in case, somebody really think he is cheating or a crazy newbee trying to make it big, I thought that I should just post a small link to his original idea.

If i was able to vouch, I would vouch for his guts 20 times.


Hi, the thread was deleted.

Yeah i know my grammar sucks, I speak spanish. Sorry if something doesnt make sense ;)
horacioo

Member Since May 22, 2010  46 posts horacioo Apr 28 2011 at 17:12
Miguel: mm. link is still there. it got broken when I pasted it. please note that it is 'community' instead of 'mmunity' eek
He is basicaly trying to do 10 all or nothing trades in a row. If he wins a trade, he doubles the account. If he loosses a trade, he blows the account and he has to start again depositing another $25. It is very clear that he is making this for fun, and this is not a 'system'

Psymon: great. keep going! wink

psymon

Member Since Apr 01, 2011  61 posts Psymon (psymon) Apr 29 2011 at 10:44
3 down 7 to go

its all down hill from here!
tapachula

Member Since Mar 25, 2010  193 posts Miguel (tapachula) Apr 29 2011 at 15:24

horacioo posted:
    Miguel: mm. link is still there. it got broken when I pasted it. please note that it is 'community' instead of 'mmunity' eek
He is basicaly trying to do 10 all or nothing trades in a row. If he wins a trade, he doubles the account. If he loosses a trade, he blows the account and he has to start again depositing another $25. It is very clear that he is making this for fun, and this is not a 'system'

Psymon: great. keep going! wink


its like using a martingale, u can double the account very fast but if u dont withdrawal o reduce the positions always end in MC


Yeah i know my grammar sucks, I speak spanish. Sorry if something doesnt make sense ;)
horacioo

Member Since May 22, 2010  46 posts horacioo Apr 29 2011 at 18:02
no martingale here. this is just a challenge of doing 10 winning trades consecutively (betting all or nothing). 1 wrong and you have to start over. In probability terms he is looking for something really improbable.


A martingale is probably the opposite, you double your bet each time you loose in an attempt to hold your loses until probability of winning comes back to your side.

you are right in a sense, that in the long run they are both destined to crash. A martingale will crash when you can't leverage your trades any longer. Psymon said he never got further than wining 4 trades in a row.

I mean intentions are totally different. He is betting $25 that he can do 10 winning trades in a row. In fact this is an open chalenge for anybody who thinks that has the skills and luck needed.

Go Psymon!

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