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

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

$25 to $25k in 10 days Discussion

Splexin
May 02 2011 at 03:16
202 posts

psymon posted:
    hi splexin, i dont know how to verify the track record or trading privlages? they were both ticked last week?

4 down 6 to go...



They changed the way to verify, see https://blog.myfxbook.com/

Excellent trade #4....wow up to $400!
Miguel (tapachula)
May 02 2011 at 17:10
193 posts
Half the Way....

Very nice last trade.

Keep it up 😉
Yeah i know my grammar sucks, I speak spanish. Sorry if something doesnt make sense ;)
Psymon (psymon)
May 03 2011 at 07:01
61 posts
5 down 5 to go...
its all down hill from here!
Splexin
May 03 2011 at 07:25
202 posts
Wow......$25 to $800 already.....what's the farthest you've made it before? Have you ever considered taking $25 out, say when you reach $XXX so you could use it again if you fail? Then you would almost have infinite tries and wouldn't be losing your own $25 every time.
Psymon (psymon)
May 03 2011 at 07:40
61 posts
this is as far as i've ever got before in real, done it a couple of times in demo, this is kinda the first time i've taken it seriously, and i'd like to think that i'm a better trader now than ever before! to take out $25 would be against the rules! that early trade where i messed up the tp is bugging the hell outa me allready lolz

from this point on its going to get harder and harder to not second guess myself and or hesitate, just because of the amount of money involved in each trade.

either way by the end of the week i'll have 0 or $6800 and thats fine by me!

😲
its all down hill from here!
horacioo
May 03 2011 at 19:17
46 posts
😀😀😀😀😀😀
Go for it!!
daCoops
May 03 2011 at 22:02
45 posts
I was lucky enough to spot this system from the front page of Myfxbook and am now following it. Great idea, but think that this type of thing would be great on a blog as well. Are you able to upload screenshots of your trades and link to them e.g. on Imageshack or something? It would be great to follow a manual system such as this visually...
Good luck!
Psymon (psymon)
May 04 2011 at 00:55
61 posts
morning all, here is my entry chart for the audusd. any questions please feel free. the tp for the first trade was just triggered.

Attachments:

its all down hill from here!
horacioo
May 04 2011 at 01:55
46 posts
nice setup!
how did you enter your first trade? Stoch, right? I see you were still a bit under the pivots and the bollinger bands. only signal that i see is stoch in the 3 charts, or doji candles in M5.


about the 2nd trade: is that for this same challenge account? I thought you were just doung 1 trade per day. Also would be interesting to know what did you see to enter the 2nd trade.

regards,
Horacio
Psymon (psymon)
May 04 2011 at 03:12
61 posts
morning h,

This is another account that i have, but i use the same setup as the challenge. (short term trending)

Yup, first trade was confirmed by stoch, also there must be 2 lines or more from zup, and there has to be one candle between zigzag and entry, macd on any chart higher than 15m must conf trend direction. there was also a double top on the 30 min chart.

the second trade was entered on stoch movement, and zigzag conf, the stoch (1m) went 10 to 90 with only a 10pip move, this indicates further down trend.

i have been expecting a pull back to around the 61.8 fib (1.0802) level which has in the last couple of minutes been reached, god only knows where its off to next!!!!

unfortunately i didn't have time this morning to place a challenge trade! doh.

Hope this helps?

Happy Hunting...
its all down hill from here!
Psymon (psymon)
May 04 2011 at 05:23
61 posts
I think i just tanked the account! got impaicent and pulled the trigger waaaaayyy too soon! short the AUDUSD .0818, it gives me about 15 to 20 pips to move and its all ready -10.

ahh well lets try again next week!

psy
its all down hill from here!
Splexin
May 04 2011 at 05:30
202 posts
Ah well at least you learn from mistakes right? You've never made it this far before.

Yeah impatience is a killer, especially when you watch the charts all the time. I pulled the trigger about 10 minutes too soon on the trade before last and missed out on a good 20 pips.

Last week I blew 25% of my account by a pure stupid mistake in sizing, BUT I am happy to report I have recovered all but 7% of that loss and right now am in a positive position.
Mike (alienek)
May 04 2011 at 05:56
8 posts
Why the last trade (AUDUSD 3.2 lot) isn't avaiable in your history? :)
Mike (alienek)
May 04 2011 at 05:58
8 posts
Hm, it's still in the open ones... and a moment ago it wasn't... strange, very strange :)
Mike (alienek)
May 04 2011 at 06:15
8 posts
Wish You better luck the second time :)
horacioo
May 04 2011 at 06:20
46 posts
bummer!!
Oh well. Next week it is.

Look on the bright side, it seems like your broker kept some money on the margin or somewhere and you still have $50. That is a free coin to start playing again. 😎

Psymon (psymon)
May 04 2011 at 06:39
61 posts
Hey all, Sorry.

I'm kinda bummed out about it but ya know what i learned a shit load in the last 6 days, about the emotions that come with trading real money, about patients and of course the joy of just getting it right. and i still broke even!!!

Back to the drawing board and lets start again tomorrow...
its all down hill from here!
Psymon (psymon)
May 04 2011 at 07:08
61 posts
Ok, I've had a quick analysis and i'm going to change the rules, just to make it a little easier 😉

$25 to $25 in 10 trades in 10 days or LESS, (allowing me to make more than 1 trade a day).

double up on volume with each trade. (.1, .2, .4, .8, 1.6, 3.2, 6.4, 12.8, 25.6, 51.2)

25 pip target on each trade or margin call.

AUD USD only.

Lets make some history...


its all down hill from here!
horacioo
May 04 2011 at 07:11
46 posts
new rules are fine for me. I aprove. 😎
Mike (alienek)
May 04 2011 at 07:56
8 posts
So, next start is today? :)
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