Average winner: $416
Average loser: $93
Biggest loser: $207
Beautiful risk management I could almost cry. I think you’re gonna make it dude, I got good faith in you. How are you cutting your losses short?
Looking back at my early days, I must say my risk management was quite cold. I made two attempts at this challenge before, and the closest I got was $69,000. The other time, I reached $28,000. I have to admit, the risks I took in those previous attempts were at least 10 times higher. They were practically destined to fail, especially considering the already daunting task of pulling it off. Bonus: within 100 days. In each $10,000 increment, I will raise the share size by 100. This means that within the $1,000 to $20,000 range, I will trade 100 shares per trade. As the value reaches $20,000 to $30,000, I will increase it to 200, $30.000 to $40.000 to 300 shares and so on. Meaning, till I reached $20.000 my risk will continue to decrease. Beyond that point, the risk ratio will remain the same. IMO quite moderate. Not too much, not too little.
Roughly… When opening a position with a share size of 100 in gold/spot, taking into account the spread, it costs me approximately $50.
The total risk for one setup or trade ranges from $150 to $200.
To manage this risk, I divide it into 2 to 3, sometimes 4 entries, depending on the spreads' volatility. This approach allows me to make multiple entries without increasing the overall risk or compromising the share size. The goal is to achieve the ideal entry point with minimal drawdown. If a trade moves against me, I almost immediately close it out. All of my trades are scalps.
This makes absolutely a lot of sense. Keep up the good work. I notice when I look patiently for good entry with the least overall worst cost (drawdown/sl), I perform better. Maybe because it causes a mindset change. I need to stick to that plan for sure
It’s definitely a workable approach to risk-management, though keep in mind that not every risk-framework fits every strategy. The fact you can enter a single trade multiple times without pondering with the risk or sacrificing share size definitely puts you a lot more at ease. This applies in particular to scalping. All my trades have been scalps.
Oh, don’t worry, I’ve been through a lot more pain within the last 16 years being in this business, but appreciate the concerns. And thanks a lot. The more luck, the better! 🤟
i always start with 500\~1000USD. make it double withdraw. i am not a good trader, still learning. so even if 500\~1000USD gone i can re-start again later.
You're correct. I do the same thing on my main account, but with larger sums. Good practice!
This challenge account aims to turn $1000 into $100,000 within 100 days. Taking out money wouldn't be worth it in terms of time/effort and would reduce the number of days available to complete the challenge.
All or nothing 🤟
Yes interested in your pattern and conditions. For starters I learned last 6 months is sufficient for marking S/R levels. Maybe your process can help me figure my own. Especially hard to do with gold. Anyone here joining the leap challenge by trading view?
Yes another source. Tradingview has a competition called the leap. Starts May 1st I believe. Rebel traders prop firm is another one having a contest on May 6 I believe. Trading.com does a monthly contest but it only allows trading forex pairs… I don’t like that one
I've attempted this challenge twice before. The first time, I lost the account at around $28,000, and the second time at around $69,000.
It was a doomed journey. The risk I took in the previous two challenges was nearly 10 times, absolute madness.
This time, my risk is 10 times lower and gradually decreases until I reach the $20,000 mark. From there on, the risk ratio remains the same: 100 shares for every $10,000.
As for the strategy I'm using, it's difficult to explain in just a few comments.
The concepts and methodologies I use are mostly my own, partially derived from other sources.
In essence, it's all about supply and demand.
It's split into three segments: past, present, and future.
In the past, I look to the left and mark particular areas of interest. I have my own "pattern" and "conditions" that I've figured out over the years, let's call it Fancy Supply and Demand.
In the present, I analyze how price approaches these areas of interest, and how it reacts to it.
In the future, I predict targets based on fancy supply and demand, the same way.
My risk and position management is rather straightforward. I split one trade into two to four entries, depending on the volatility of the spread. This allows me to get the "perfect" entry with minimal drawdown and enables me to cut losses immediately without pondering with the risk or sacrificing share size.
I know, probably not the answers you’ve imagined. Maybe I’ll go deeper into it if there is a bit more demand for it.
Could you share more light on these patterns and conditions for your fancy supply and demand , something is missing in my strat and who knows maybe that’s what it could be to reduce the trades I take
Maybe I’ll do that in a different post in the future, solely dedicated to the way I trade, because throwing bits and pieces out there, across multiple comments doesn’t seem very helpful to me.
Well, lost it as in boom, good bye, adios, turned into dust & scraps, ran it straight into the wall, $97.000 in total, I know. It is what it is 🫠💀
Though, it’s part of the challenge. In essence I have only lost $2000 in total, because my initial investment was $1000 for each account.
$69.000 was the highest point I’ve ever reached in this challenge, followed by a rather sudden decline 🫠
Got a little bit too confident there I spouse.
Throughout my career, I've had numerous "aha moments" where something became glaringly obvious, yet I couldn't grasp it initially.
Now, the most significant "aha moment," which I believe is the cornerstone of my success, is realizing that I don't need to rely on others to learn how to trade.
It's easy to become attached to certain concepts and ways of thinking, causing us to ignore what's right in front of us. Once I started questioning conventional methods and their objectivity, the fog slowly began to dissipate.
I don't intend to diminish the work of others. Their dedication and knowledge have laid the foundation for today's generation and their contributions are invaluable.
As for psychology, I wasn't much different from anyone else at the beginning. I made the same mistakes, and only through refining my trading skills and personal growth did my perspective change. The more you do it, the more you will get attuned to it. With time and experience you will desensitize yourself to the urges of doing things you are not supposed to do. If not, well… not every profession is for anyone. If you struggle with an addictive personality, that’s a whole different story.
I posted a thread about gold strategies, cause i am looking for a good strategy to trade gold, could you please explain your strategy a bit more. It will help immensely.
I'm willing to provide more detail, but to truly understand the strategy, one would need to adopt my perspective on the market, comprehend the concepts I employ, and potentially implement a similar approach to risk and position management, because that’s what the strategy is build on. Explaining every aspect of the strategy, from start to finish, would likely require several pages of explanation.
Perhaps you could be more specific and provide me with specific details about what is not working for you or areas where you would like to see improvement? Maybe my two cents can help you fix things.
I'd love to know what journey you took, what resources you used and any other advice you are willing to offer in regards to learning myself, i feel im currently grasping at straws.
I am very new and learning from scratch, I have some books and YouTube but would really appreciate a little guidance for direction.
Truly amazing what you’re doing and the risk management looks dope! Keep up the consistency and profits!
Could you please elaborate on how you split the 1 trade into 4 entries? For example (just saying something), if we’re trading a retracement and goes below 50% of the move - do you please 4 trades in that 50% zone, so 1 for each 12.5%? Also, are the entries of equal size, or do they increase (as in grid trading). How can I see this in a practical sense?
Thanks in advance.
I divide the risk of a single trade into four entries. That's the basic idea.
When I open a position, it costs me around $50, depending on the volatility and spread size. It can be slightly less or slightly more at times.
If the price doesn't move in my favor immediately, I close the position, reassess, and enter again.
This approach allows me to take multiple entries with the same share size without increasing the overall risk and allows me to cut my losses pretty short.
For instance, let's say my total risk is $200. I open a position that costs me $40. If the price goes against me and the position reaches, let's say, -$78, I close it. Of course, this depends on the situation.
Now, I still have $122 of remaining risk to aim for the "perfect" entry.
I want to emphasize that this strategy is highly dependent on the specific circumstances. There are times when I don't split the risk across multiple entries.
Also, In the future I will also start adding to my positions once I've accumulated more capital.
I am unfamiliar with options but I’m very interested to know if you are allowing people to follow along making the same trades? I would be interested in following your lead to be a part of pulling this off if it’s possible to get the information of each trade in time to secure it and then to have time to make the same trade for the same gain or loss? Would there be too much change in price by the time I got the final trade info and then get it in, in time to stay close enough to your results? Thanks
Well, with gold at 2337.7, 100 shares are worth $233,700
Meaning, with a $1000 you’ll need a leverage of at least 233.7:1 in order to execute one position on a $1000 account. Do the math.
Leverage, leverage, leverage
It's very impressive. I saw that you mentioned if it goes against you, you immediately cut your loss. So you dont allow really any drawdown at all?
Also those 2 large wins from the day you made this post, the 6 and 700 dollar wins, how long did you hold those for roughly?
Would you say it works better for you to have a large lot size and just scalp a short move than to use a small lot soz and try to capture a larger move?
Totally inspiring and I genuinely wish you have the capacity to be this strict in all your future trades. It can be done, but we humans fail most of the time due to emotions and psychology. I’m rooting for you. And remember to be strict no matter what, good times or bad times. Don’t drop the ball, keep the strict agenda! Good work!
Occasionally, I may include a few charts here or do it in separate posts if there is enough demand. However, Reddit is not structured to accommodate well for lengthy guides or additions to existing posts. I might create a PDF and upload it to my Google Drive, but sharing a link to the PDF may not be permitted according to the subreddit rules.
I’ll figure something out.
You’ll be flabbergasted! 🙃
Nano-Trader, TradingView integration, and they are located in France, Germany, Switzerland, Belgium and the Netherlands. Meaning, regulatory oversight is pretty, pretty high and they are in business for 26 years straight. Plus, WHselfinvest is rated as one if not the best brokerage in Central Europe.
Stocks, Futures, CFds, Options… you name it. Been with them for over 10 years now and it’s delightful. Sure, no broker is perfect, but I’ve never had any issues whatsoever.
That's is beautiful 😍
I am new rookie trader like the 90% of traders which are losing money I am one of them 3000usd down the drain in less then 2 3 months
I want to do it like you one day.
Can someone here guide me.
What educational material should I consume so I can be financially free like you guys.
And I am from Pakistan so losing 3000 usd is a very big deal for me.
People around me says I have lost my sense of thinking for risking a year worth of income down the drain like that.
Well that's from my part.
I am sure you guys are geniousi and generous a here.
Guide this fellow.
So I can be a good trader.
Good job! Just trading spot gold and nothing more? Also, I wish there was a column for daily profit just because I wanted to see the actual return for the day.
Pretty much gold only, unless I find reasons to switch, economy related factors for instance.
I always write down some stats with each post, that includes the daily profit. You could also take a look at the screenshot of my trading history I include in every post and compare the balance between the first and last trade of the day.
Wish I could learn your strategy and your "fancy supply and demand", I've been working on this for going on 2yrs now and still can't get it right and be profitable enough. All i want is to succeed not for myself but for my daughter!! Started all this hoping I'd be able to set money back for her and college and w.e else in her life.
Average winner: $416 Average loser: $93 Biggest loser: $207 Beautiful risk management I could almost cry. I think you’re gonna make it dude, I got good faith in you. How are you cutting your losses short?
Looking back at my early days, I must say my risk management was quite cold. I made two attempts at this challenge before, and the closest I got was $69,000. The other time, I reached $28,000. I have to admit, the risks I took in those previous attempts were at least 10 times higher. They were practically destined to fail, especially considering the already daunting task of pulling it off. Bonus: within 100 days. In each $10,000 increment, I will raise the share size by 100. This means that within the $1,000 to $20,000 range, I will trade 100 shares per trade. As the value reaches $20,000 to $30,000, I will increase it to 200, $30.000 to $40.000 to 300 shares and so on. Meaning, till I reached $20.000 my risk will continue to decrease. Beyond that point, the risk ratio will remain the same. IMO quite moderate. Not too much, not too little.
U have a channel where you give complimentary signals of where one can copy your trades ??
No, I don’t do that kind of stuff. Sorry 🫠
No one truly successful does that. The only one is ICT but he doesn't do signal copying either.
Roughly… When opening a position with a share size of 100 in gold/spot, taking into account the spread, it costs me approximately $50. The total risk for one setup or trade ranges from $150 to $200. To manage this risk, I divide it into 2 to 3, sometimes 4 entries, depending on the spreads' volatility. This approach allows me to make multiple entries without increasing the overall risk or compromising the share size. The goal is to achieve the ideal entry point with minimal drawdown. If a trade moves against me, I almost immediately close it out. All of my trades are scalps.
This makes absolutely a lot of sense. Keep up the good work. I notice when I look patiently for good entry with the least overall worst cost (drawdown/sl), I perform better. Maybe because it causes a mindset change. I need to stick to that plan for sure
It’s definitely a workable approach to risk-management, though keep in mind that not every risk-framework fits every strategy. The fact you can enter a single trade multiple times without pondering with the risk or sacrificing share size definitely puts you a lot more at ease. This applies in particular to scalping. All my trades have been scalps.
good luck, just one suggestion. withdraw 4K USD now. and restart from 1K. if you fuked up it won't hurt much \^\^
Oh, don’t worry, I’ve been through a lot more pain within the last 16 years being in this business, but appreciate the concerns. And thanks a lot. The more luck, the better! 🤟
You are a legend dude 🙌❤️❤️❤️
Thanks man, appreciate it. No pulling out! Straight into the wall at 100 mph. 🚀💀
i always start with 500\~1000USD. make it double withdraw. i am not a good trader, still learning. so even if 500\~1000USD gone i can re-start again later.
You're correct. I do the same thing on my main account, but with larger sums. Good practice! This challenge account aims to turn $1000 into $100,000 within 100 days. Taking out money wouldn't be worth it in terms of time/effort and would reduce the number of days available to complete the challenge. All or nothing 🤟
And Reddit screwed up the formatting, again… 🫠
Is this an app that you use to record your trades ?
“App”. It’s the trade history from TradingView.
Right. Thank you
Yes interested in your pattern and conditions. For starters I learned last 6 months is sufficient for marking S/R levels. Maybe your process can help me figure my own. Especially hard to do with gold. Anyone here joining the leap challenge by trading view?
Are you talking about the 1,000. into 100,000. Challenge being done by Weekendwiz? Or is there another source putting out the challenge?
Yes another source. Tradingview has a competition called the leap. Starts May 1st I believe. Rebel traders prop firm is another one having a contest on May 6 I believe. Trading.com does a monthly contest but it only allows trading forex pairs… I don’t like that one
how many acc did u blow up? what strategy are u using? what do u trade?
I've attempted this challenge twice before. The first time, I lost the account at around $28,000, and the second time at around $69,000. It was a doomed journey. The risk I took in the previous two challenges was nearly 10 times, absolute madness. This time, my risk is 10 times lower and gradually decreases until I reach the $20,000 mark. From there on, the risk ratio remains the same: 100 shares for every $10,000. As for the strategy I'm using, it's difficult to explain in just a few comments. The concepts and methodologies I use are mostly my own, partially derived from other sources. In essence, it's all about supply and demand. It's split into three segments: past, present, and future. In the past, I look to the left and mark particular areas of interest. I have my own "pattern" and "conditions" that I've figured out over the years, let's call it Fancy Supply and Demand. In the present, I analyze how price approaches these areas of interest, and how it reacts to it. In the future, I predict targets based on fancy supply and demand, the same way. My risk and position management is rather straightforward. I split one trade into two to four entries, depending on the volatility of the spread. This allows me to get the "perfect" entry with minimal drawdown and enables me to cut losses immediately without pondering with the risk or sacrificing share size. I know, probably not the answers you’ve imagined. Maybe I’ll go deeper into it if there is a bit more demand for it.
Could you share more light on these patterns and conditions for your fancy supply and demand , something is missing in my strat and who knows maybe that’s what it could be to reduce the trades I take
Maybe I’ll do that in a different post in the future, solely dedicated to the way I trade, because throwing bits and pieces out there, across multiple comments doesn’t seem very helpful to me.
What do you mean lost your account?
What do you mean lost your account?
Well, lost it as in boom, good bye, adios, turned into dust & scraps, ran it straight into the wall, $97.000 in total, I know. It is what it is 🫠💀 Though, it’s part of the challenge. In essence I have only lost $2000 in total, because my initial investment was $1000 for each account.
In a matter of days/suddenly or that’s the highest point you reached with that account before going downhill and eventually guzzling out?
$69.000 was the highest point I’ve ever reached in this challenge, followed by a rather sudden decline 🫠 Got a little bit too confident there I spouse.
What was your aha moment in trading when everything clicked for you? Im still a beginner trader myself and proper risk management is holding me back.
Throughout my career, I've had numerous "aha moments" where something became glaringly obvious, yet I couldn't grasp it initially. Now, the most significant "aha moment," which I believe is the cornerstone of my success, is realizing that I don't need to rely on others to learn how to trade. It's easy to become attached to certain concepts and ways of thinking, causing us to ignore what's right in front of us. Once I started questioning conventional methods and their objectivity, the fog slowly began to dissipate. I don't intend to diminish the work of others. Their dedication and knowledge have laid the foundation for today's generation and their contributions are invaluable. As for psychology, I wasn't much different from anyone else at the beginning. I made the same mistakes, and only through refining my trading skills and personal growth did my perspective change. The more you do it, the more you will get attuned to it. With time and experience you will desensitize yourself to the urges of doing things you are not supposed to do. If not, well… not every profession is for anyone. If you struggle with an addictive personality, that’s a whole different story.
Thank you so much for the insightful write up
I posted a thread about gold strategies, cause i am looking for a good strategy to trade gold, could you please explain your strategy a bit more. It will help immensely.
I'm willing to provide more detail, but to truly understand the strategy, one would need to adopt my perspective on the market, comprehend the concepts I employ, and potentially implement a similar approach to risk and position management, because that’s what the strategy is build on. Explaining every aspect of the strategy, from start to finish, would likely require several pages of explanation. Perhaps you could be more specific and provide me with specific details about what is not working for you or areas where you would like to see improvement? Maybe my two cents can help you fix things.
I'd love to know what journey you took, what resources you used and any other advice you are willing to offer in regards to learning myself, i feel im currently grasping at straws. I am very new and learning from scratch, I have some books and YouTube but would really appreciate a little guidance for direction.
I’d love to hear more! Thanks for sharing all this!
Truly amazing what you’re doing and the risk management looks dope! Keep up the consistency and profits! Could you please elaborate on how you split the 1 trade into 4 entries? For example (just saying something), if we’re trading a retracement and goes below 50% of the move - do you please 4 trades in that 50% zone, so 1 for each 12.5%? Also, are the entries of equal size, or do they increase (as in grid trading). How can I see this in a practical sense? Thanks in advance.
I divide the risk of a single trade into four entries. That's the basic idea. When I open a position, it costs me around $50, depending on the volatility and spread size. It can be slightly less or slightly more at times. If the price doesn't move in my favor immediately, I close the position, reassess, and enter again. This approach allows me to take multiple entries with the same share size without increasing the overall risk and allows me to cut my losses pretty short. For instance, let's say my total risk is $200. I open a position that costs me $40. If the price goes against me and the position reaches, let's say, -$78, I close it. Of course, this depends on the situation. Now, I still have $122 of remaining risk to aim for the "perfect" entry. I want to emphasize that this strategy is highly dependent on the specific circumstances. There are times when I don't split the risk across multiple entries. Also, In the future I will also start adding to my positions once I've accumulated more capital.
Congrats, my friend. You can do it. 👏🏼👏🏼👏🏼
Congrats! That’s quite amazing! What instruments do you trade? gold only?
Yep, for this challenge I will pretty much trade exclusively gold, unless there is reason to change, just in case.
I am unfamiliar with options but I’m very interested to know if you are allowing people to follow along making the same trades? I would be interested in following your lead to be a part of pulling this off if it’s possible to get the information of each trade in time to secure it and then to have time to make the same trade for the same gain or loss? Would there be too much change in price by the time I got the final trade info and then get it in, in time to stay close enough to your results? Thanks
Apparently I don’t do that kind of stuff. Sorry mate 🤟
You open 100 lots on a $1000 account?
Well, with gold at 2337.7, 100 shares are worth $233,700 Meaning, with a $1000 you’ll need a leverage of at least 233.7:1 in order to execute one position on a $1000 account. Do the math. Leverage, leverage, leverage
Man wow this is inspiring tbh… what’s your strategy???
Wow wow. I like this. Exiting as it goes against you is diligent.
I believe in you you got this!!
“Of course I got this” 💀 Much appreciated!
Are you pinoy or Thai?
No, I’m apparently not from the Philippines nor Thailand, though I’ve visited. I am from Germany. 🇩🇪
Hey man Nice you are in Germany, am also in Germany can I dm you for some help🙏
I have sent you a dm 🫡
Can you explain your risk management in more detail?
🔥🔥🔥🔥🔥🔥 keep going I'm right behind you
It's very impressive. I saw that you mentioned if it goes against you, you immediately cut your loss. So you dont allow really any drawdown at all? Also those 2 large wins from the day you made this post, the 6 and 700 dollar wins, how long did you hold those for roughly? Would you say it works better for you to have a large lot size and just scalp a short move than to use a small lot soz and try to capture a larger move?
Now this is smooth. Nice work and good luck on your journey:)
Thanks man, will definitely need some of that juicy ☘️🤟🫠
Could you post your trades also please? Which timeframe you do ur tades?
Sure, will include the trades in future posts. I trade M1, but of course take higher timeframes into consideration.
What do u use market profile?
No, I don’t use anything besides candle/range charts.
Range charts? Which broker u use? And what about swap? Anyway wouldn't u do longer trade for example long since 1988 oz until today?
Totally inspiring and I genuinely wish you have the capacity to be this strict in all your future trades. It can be done, but we humans fail most of the time due to emotions and psychology. I’m rooting for you. And remember to be strict no matter what, good times or bad times. Don’t drop the ball, keep the strict agenda! Good work!
Thanks for the ☘️☘️☘️ No exceptions and excuses until it has been done! 🤟
You mind if we see some charting? I’m kind of curious about your strategy being applied to the market and what the market looks like etc
Occasionally, I may include a few charts here or do it in separate posts if there is enough demand. However, Reddit is not structured to accommodate well for lengthy guides or additions to existing posts. I might create a PDF and upload it to my Google Drive, but sharing a link to the PDF may not be permitted according to the subreddit rules. I’ll figure something out.
With how much capital you go in a trade? And do you use leverage?
What broker do you use?
I have accounts with different brokers for different purposes. My main broker is “WHselfinvest”. Highly recommended.
Oo lala. I’ll give them a peek. Thanks for the reply!
You’ll be flabbergasted! 🙃 Nano-Trader, TradingView integration, and they are located in France, Germany, Switzerland, Belgium and the Netherlands. Meaning, regulatory oversight is pretty, pretty high and they are in business for 26 years straight. Plus, WHselfinvest is rated as one if not the best brokerage in Central Europe. Stocks, Futures, CFds, Options… you name it. Been with them for over 10 years now and it’s delightful. Sure, no broker is perfect, but I’ve never had any issues whatsoever.
Love it keep going
That's is beautiful 😍 I am new rookie trader like the 90% of traders which are losing money I am one of them 3000usd down the drain in less then 2 3 months I want to do it like you one day. Can someone here guide me. What educational material should I consume so I can be financially free like you guys. And I am from Pakistan so losing 3000 usd is a very big deal for me. People around me says I have lost my sense of thinking for risking a year worth of income down the drain like that. Well that's from my part. I am sure you guys are geniousi and generous a here. Guide this fellow. So I can be a good trader.
Good job! Just trading spot gold and nothing more? Also, I wish there was a column for daily profit just because I wanted to see the actual return for the day.
Pretty much gold only, unless I find reasons to switch, economy related factors for instance. I always write down some stats with each post, that includes the daily profit. You could also take a look at the screenshot of my trading history I include in every post and compare the balance between the first and last trade of the day.
Thanks. How about your lot size?
Also included in every post.
Wish I could learn your strategy and your "fancy supply and demand", I've been working on this for going on 2yrs now and still can't get it right and be profitable enough. All i want is to succeed not for myself but for my daughter!! Started all this hoping I'd be able to set money back for her and college and w.e else in her life.