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$100 to $100K challenge (By F0rexwives )

The user has deleted this system.

$100 to $100K challenge Discussion

F0rexwives
Jan 11 2019 at 11:01
15 posts
A bit about me, I started trading forex back in 2015. This was one of my first accounts I opened and you can see from the history that I have been trying different things over the last 4 years. I have tried many EA’s and courses without success. However I have developed my own strategy that I trade manually with strict rules and good risk management which I feel comfortable with.

Follow me as I now test my strategy and aim to grow a tiny account of $200 to $100,000. I’m initially trading high risk @ 5% up until £1K then reducing risk to 2% thereafter. I am sharing this account for educational purposes only therefore I won’t be releasing a copy signal.

Wish me luck!!

PipsNewbie
Jan 13 2019 at 07:09
43 posts
challenge accepted. 😇

I try not to burn my account
xieyu
Jan 13 2019 at 07:36
3 posts
Tkanks for your sharing, i have read your account information. I really understand what you pursuit of, because now trading is part of our life. GOOD LUCK!!!

F0rexwives
Jan 14 2019 at 07:45
15 posts
lenanapeak
Feb 03 2019 at 08:01
11 posts
Best of luck. Go get it!

F0rexwives
Feb 03 2019 at 11:00
15 posts
Thanks Lenanapeak.

January was an interest month. My strategy suffered 11 consecutive losses but I regained some ground at the end of the month. Obviously trading at 5% per trade made DD look horrendous. I opt for 5% for 2 reasons......firstly, to kick start the account and secondly it’s difficult to get an exact 5% risk with such low lot sizes. Trading @5% though is like a baby turtle scarpering across the sand and trying to make it to the sea without being eaten. Assuming I get to $500, my current plan is to gradually reduce risk to 2% per trade between $500 - $1250 of account balance. Lets see what February brings!

Happy trading!

lenanapeak
Feb 04 2019 at 11:03
11 posts
Trading @5% though is like a baby turtle scarpering across the sand and trying to make it to the sea without being eaten.


Depending on how you've designed your system, assuming you have trade setups that you can define as low risk; then limit all trades to these 'low risk' setups until your balance allows you to reduce risk to 2% or less. (Eg, were some of the 11 consecutive losses avoidable)

In addition, as this experiment is part of your forex education, you could consider linking your account to Darwinex and PsyQuation to have your strategy thoroughly analysed and scored, which will hopefully help correct trading mistakes and improve performance.

Cheers!

togr (togr)
Feb 04 2019 at 12:04
4862 posts
F0rexwives posted:
Thanks Lenanapeak.

January was an interest month. My strategy suffered 11 consecutive losses but I regained some ground at the end of the month. Obviously trading at 5% per trade made DD look horrendous. I opt for 5% for 2 reasons......firstly, to kick start the account and secondly it’s difficult to get an exact 5% risk with such low lot sizes. Trading @5% though is like a baby turtle scarpering across the sand and trying to make it to the sea without being eaten. Assuming I get to $500, my current plan is to gradually reduce risk to 2% per trade between $500 - $1250 of account balance. Lets see what February brings!

Happy trading!


The issue is not that DD is too high,
the issue is with such high DD your profit is not sufficient compared to risk.

F0rexwives
Mar 22 2020 at 07:06
15 posts
Back in on this challenge! What a start!

F0rexwives
Mar 28 2020 at 08:44
15 posts
Incredibly volatile conditions at present. Took 2 longs this week, slightly frustrated on the downward movement of Cable on 23rd which stopped me out before continuing to climb higher. All in all a good week though for finishing on a positive. Waiting for the short cycles to begin on all 3 pairs.

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