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$25 to $25k in 10 days (By psymon)

Gain : -99.9%
Drawdown 92.70%
Pips: 84.0
Trades 19
Type: Real
Leverage: 1:500
Trading: Manual

$25 to $25k in 10 days Discussion

May 17 2011 at 03:58
46 posts
Psy, my friend don't put yourself down. You are an excellent chart reader.
Look at the account you blowed up. More than 60% of your trades were winners.
Your problem is that you are cutting your profits and letting your losses run, and you should be foucusing on the opposite. Look at your average win (6 pips), and your average loss (-19 pips). That was what killed your account.
If you are going to babysit your trades, try to get rid of the bad ones, and let the good ones some time to grow.
I might be wrong as my trading sucks donkey asses, but that is what i honestly think.
Since you are back to your demo tests. Try to come up with a set and let go strategy and let your average profit be as big as your average loss. That will be the the key to your success. (after that you can manage my account, LOL)

May 17 2011 at 04:05
46 posts
oh, and another suggestion.
Next time that you really, really want to exit a profitable trade, just close half of the position instead, adjust your SL to BE, double your TP to the original amount, and set a trailing stop.

Ben Scoobert
May 18 2011 at 10:03
276 posts
I modified an EA which closed when you are at a fraction of your balance, if you set it to 1 it will close all open trades when you are double.

Is it any use to you?

Ben Scoobert
May 18 2011 at 11:01
276 posts

psymon posted:
    Morning, a slight change in strategy.

I feel like i'm trying to run before i can crawl, so for this week i'm going to drop the only 10 trades. Heres the thing, as much as 10 trades in 10 days is perfect i have come to the conclusion that just doing it in 10 days is hard enough! I've been doing some heavy back testing this weekend and i am finding the success rate considerably higher if i allow my self to take 2 or 3 trades per step.

Its more like trying to fly before you can breathe, but I think that is the point, it's more roulette than forex.

Cracking idea, I say you should stick to the 10, or even reduce it by going for 3x instead of 2x.

You can do 6, do it again and stop doubting it. You sure need the cherries to do the last one though :-)

Good luck

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