$25 to $25k in 10 days (de psymon)
| Ganancia : | -99.9% |
| Disminución | 92.70% |
| Pips: | 84.0 |
| Transacciones | 19 |
| Ganado: |
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| Perdido: |
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| Tipo: | Real |
| Apalancamiento: | 1:500 |
| Trading: | Manual |
Discusión $25 to $25k in 10 days
Apr 28, 2011 at 04:18
Hi Miguel,
In case you do not know,Psymon's trading challenge is explained in this other thread
https://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.
In case you do not know,Psymon's trading challenge is explained in this other thread
https://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.
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
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!
Apr 28, 2011 at 15:57
(editado 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
https://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 ;)
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' 😲
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! 😉
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! 😉
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' 😲
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! 😉
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 ;)
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!
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 $25 that he can do 10 winning trades in a row. In fact this is an open chalenge for anybody who thinks that has the skills and luck needed.
Go Psymon!
Apr 29, 2011 at 18:23
You re right Horacio. i said 'like martingale' because the risk involved.
This is another classic 'millonarie project'. if you're lucky, you will enjoy the benefits,
Regards
This is another classic 'millonarie project'. if you're lucky, you will enjoy the benefits,
Regards
Yeah i know my grammar sucks, I speak spanish. Sorry if something doesnt make sense ;)
Apr 29, 2011 at 18:41
i am supporting psymon becouse he seems to be doing it just for fun, kamikase style. Looks more like gambling on poker to me than a millionaire project.
this is just a skills test. not an investment contest, and not even an attempt of an investment strategy
this is just a skills test. not an investment contest, and not even an attempt of an investment strategy
Apr 30, 2011 at 01:15
hey guys, the way i see it there is no more or less risk than on the first trade? its a 25$ account, and if it mc then its only 25$.
the ability to make 25pips is not rocket science, i think that the perceived risk only starts when the amount of money increases. on a purely psychological level what i'm finding interesting is the level of anxiety vs volume traded. if i can block out the actual amount of money and keep my emotions in check i dont see why its not possible.
Sure i agree that i would never trade my normal account in this way, but one of the reasons i tanked the real account thats on here is because i wouldn't let my trades run to tp. hopefully this challenge will force me to let my profits run and give me some more confience in my analytical skills. proving to my self with $25 that i can be right will give me more confidence in trading my normal account.
also i love proving everyone who says it cant be done wrong. 😝
I wouldnt quite say its poker, because here we have such a wide variety of tools to help traders decide where the price action is headed. understanding the economic climate and econ reports that come out as well as being able to read a chart should reduce the odds more than gambling ever could.
the ability to make 25pips is not rocket science, i think that the perceived risk only starts when the amount of money increases. on a purely psychological level what i'm finding interesting is the level of anxiety vs volume traded. if i can block out the actual amount of money and keep my emotions in check i dont see why its not possible.
Sure i agree that i would never trade my normal account in this way, but one of the reasons i tanked the real account thats on here is because i wouldn't let my trades run to tp. hopefully this challenge will force me to let my profits run and give me some more confience in my analytical skills. proving to my self with $25 that i can be right will give me more confidence in trading my normal account.
also i love proving everyone who says it cant be done wrong. 😝
I wouldnt quite say its poker, because here we have such a wide variety of tools to help traders decide where the price action is headed. understanding the economic climate and econ reports that come out as well as being able to read a chart should reduce the odds more than gambling ever could.
its all down hill from here!
Apr 30, 2011 at 03:09
Seen your account stats?
# Gain: +526.52%
# Abs. Gain: +288.0%
# Daily: 32.91%
# Monthly: 979.82%
# Drawdown: 0.00%
LMAO 😀
you probably already beat the stats of 80% of all the accounts published in this site. lol
keep going
PS: i would say that poker gives you better chances than winning 10 out of 10 trades for the most skilled trader on the planet. Anyways that is just my opinion. And don't get me wrong only a very good trader like you can bring this challenge to the table.
PS2: in this case i d love being proved wrong by you. I think you deserve to prove me wrong about the mathematical improbability.
# Gain: +526.52%
# Abs. Gain: +288.0%
# Daily: 32.91%
# Monthly: 979.82%
# Drawdown: 0.00%
LMAO 😀
you probably already beat the stats of 80% of all the accounts published in this site. lol
keep going
PS: i would say that poker gives you better chances than winning 10 out of 10 trades for the most skilled trader on the planet. Anyways that is just my opinion. And don't get me wrong only a very good trader like you can bring this challenge to the table.
PS2: in this case i d love being proved wrong by you. I think you deserve to prove me wrong about the mathematical improbability.
Apr 30, 2011 at 03:27
hehe
whats so good about the stats? any idea what they will look like at the end of next week? assuming i dont blow the account? lolz
i really havent had time to look into all of the features here,
thanks for the support. it means a lot that at least one person thinks the same way as me!
whats so good about the stats? any idea what they will look like at the end of next week? assuming i dont blow the account? lolz
i really havent had time to look into all of the features here,
thanks for the support. it means a lot that at least one person thinks the same way as me!
its all down hill from here!
Apr 30, 2011 at 04:01
Just had a read through some other trading systems, and i'll explain here what i'm doing.
as the title says $25 to $25,000. in 10 trades in 10 days.
looking for medium strength breakouts on short time frames, the AUD/USD was the most volatile of the few pairs i could trade
price action and candle stick patterns
daily pivot points & stoch on 1h charts
i'm using zig zag and trend lines for direction, on 5m & 15m charts
stoch, zig zag & zup 20 for entry on 1min & 5min charts
exit has to be 25pips
any questions and i'll try to answer them. and later i'll get around to posting a screen shot of mt4
thx
as the title says $25 to $25,000. in 10 trades in 10 days.
looking for medium strength breakouts on short time frames, the AUD/USD was the most volatile of the few pairs i could trade
price action and candle stick patterns
daily pivot points & stoch on 1h charts
i'm using zig zag and trend lines for direction, on 5m & 15m charts
stoch, zig zag & zup 20 for entry on 1min & 5min charts
exit has to be 25pips
any questions and i'll try to answer them. and later i'll get around to posting a screen shot of mt4
thx
its all down hill from here!
forex_trader_33781
Miembro desde Apr 11, 2011
posts 202
May 02, 2011 at 02:36
Hey great so far! Even $25 to $200 that quick is good in my book.
Any reason Track Record etc is not verified??
Any reason Track Record etc is not verified??
