$200-100k challenge

TheSlyFox posted:
No such thing as a super trader--- currently I am over leveraging my account so I can attempt to gain faster growth to hit the time period I set. I will scale back risk and go for a more conservative growth plan now---timeframe to 100k on this account has been extended based on new risk profile, it will take roughly 8-10 years.

That sounds reasonable: more sustainable growth with less risk is better for account survival and goal achievement!

Loss was a margin call---it didn't hit my stop loss but didn't recover enough before the weekend for my broker to allow me to keep it open. Eurnzd---https://gyazo.com/57cea52dfea7953b8320e2f25bc81f78 I entered at 61.8 retracement, stop loss is at 5, unfortunately my account is too small to take longer term positions without hitting a margin call, I entered once it hit reversal zone--I should have waited a bit until momentum switched based on the smaller account size, was my mistake. Originally my plan for the smaller account was to shoot for a 50-60% monthly growth starting then scale back risk as account size rose, I achieved this by over-leveraging on high probability set-ups, problem is I didn't account for the timeframe I use, it wasn't a problem for awhile because of precise entries, but had a streak of a few bad trades as accounted for in my strategy (60-70% winrate on average) but because im over-leveraging---huge negative impact. (in positive trades I was scaling positions out as they moved higher in profit to lock in money gained and moving stop to break even, I would be pyramiding trades but account is too small for that) now I will stop over leveraging and just look for consistent growth, I was hoping to finish this project in a few years to prove a point then move on, looks like it will have to be long term if i want to ensure success, which is always safer of course.

LongVision posted:

CtFx2019 posted:

LongVision posted:
Sorry to say but 200 dollars to 100k is impossible.

Clearly you don't know how to properly compound 😭

I say realistically because some traders envision a tradeable strategy as one that never loses a trade, never has a losing day, and atleast doubles your money every month. It’s nice to have lofty goals, but you’ll never find a strategy that meets those criteria.

Just think if you bought oil at 25$ a barrel and doubled up every x3

snapdragon1970 posted:

LongVision posted:

CtFx2019 posted:

LongVision posted:
Sorry to say but 200 dollars to 100k is impossible.

Clearly you don't know how to properly compound 😭

I say realistically because some traders envision a tradeable strategy as one that never loses a trade, never has a losing day, and atleast doubles your money every month. It’s nice to have lofty goals, but you’ll never find a strategy that meets those criteria.

Just think if you bought oil at 25$ a barrel and doubled up every x3

If only I bought Bitcoin when it was like a dollar.... :D

TheSlyFox posted:
No such thing as a super trader--- currently I am over leveraging my account so I can attempt to gain faster growth to hit the time period I set. I will scale back risk and go for a more conservative growth plan now---timeframe to 100k on this account has been extended based on new risk profile, it will take roughly 8-10 years.

How many lots per $100'000, or how many 0.01 lots per $100? When overleveraging, do you vary your position size according to the market situation?

Christabelle23 posted:

snapdragon1970 posted:

LongVision posted:

CtFx2019 posted:

LongVision posted:
Sorry to say but 200 dollars to 100k is impossible.

Clearly you don't know how to properly compound 😭

I say realistically because some traders envision a tradeable strategy as one that never loses a trade, never has a losing day, and atleast doubles your money every month. It’s nice to have lofty goals, but you’ll never find a strategy that meets those criteria.

Just think if you bought oil at 25$ a barrel and doubled up every x3

If only I bought Bitcoin when it was like a dollar.... :D

I bought it at the very start and made some money ,but it was flat for ages so I closed.

will be re depositing money into this account to continue the challenge later, working primarily on a new fund account I opened now.

is the new fund using the same strategy of a different one? Will you make the new fund public. CAn I deposit into fund

https://the5ers.com/the5ers-fund-welcomes-elijah-n-to-be-one-of-our-new-funded-traders-06-03-2019/
my interview i recently opened a new account with them

How is it all going ? I love to see challenges from small sums to something really big. Sorry for replying on such old thread, but just looking at how things are going there really. I know it's hard to get by. Have you been able to go from $200 to bigger amounts.

uxStyle posted:
How is it all going ? I love to see challenges from small sums to something really big. Sorry for replying on such old thread, but just looking at how things are going there really. I know it's hard to get by. Have you been able to go from $200 to bigger amounts.

Difficult to do this in the Forex market ,better returns on other securities ,beginning of the year had some good entry points on stocks.

You will be drained out psychologically , Good luck in doing 200 to 100k

@uxStyle Going good growing accounts is significantly easier once account hits 1k, as always people can continue to see performance etc, in terms of being drained, not really possible. Trading on this account is relaxing for me and fun, much less stressful then working for 5ers, more of a hobby.

How to make $100k? Start with $500k.😀

Hi Fox,

How is your evaluation with 5%ers coming along? Am actually searching for forex prop firms to try something similar and had just finished making a short list of firms that I would consider working with. So far I have them as follows :

1) FTMO
2) 5%ers
3) City Traders Imperium (CTI)
4) Audacity Capital

Please add to my list if you have any other that you think I should consider.

Coincidentally, I have just started a similar challenge like yours. Starting with $500 and $100,000 as target. No time limit in my case and I shall be withdrawing profits at end of each profitable week as I feel this will further make it easier for me to inch closer to the final target as I see my withdrawn profits grow and out of harms way. I also have no intention of adding funds to the account to cover drawdowns or losses.

@lenanapeak Good Luck.
We have the same target here to reach 100k. I used compound return and making regular withdraw.

Nasrul_Swing posted:
@lenanapeak Good Luck.
We have the same target here to reach 100k. I used compound return and making regular withdraw.

Fantastic! I see you are already halfway there. That inspires me and confirms it can be done. Let us know when you hit the target.

Cheers!

LongVision posted:
Sorry to say but 200 dollars to 100k is impossible.

Not impossible, but it would be very difficult for most people to accomplish.

Yes, i agreed with @Professional4X. It can be achieved, however, it very difficult to achieve. You will use high risk type strategy and the result either you achieve it or you burn out all the money.