College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; If holding on to a position until it shows a profit works, everyone would be doing it. I wish you ...

View Poll Results: How close to my goal of $2,000,000 do you think I will get?
You think I will blow the account and my $100 will be lost. 79 58.52%
You think I will somewhat earn a profit $200-$1,500. 17 12.59%
You think I will get a pretty good return but not close to $2,000,000. 27 20.00%
You think I will get way more then $2,000,000. 12 8.89%
Voters: 135. You may not vote on this poll

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Old Jun 14, 2011, 3:01pm   #41
Joined Jun 2011
Re: College Fund Challenge

If holding on to a position until it shows a profit works, everyone would be doing it. I wish you and your followers luck.
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Old Jun 14, 2011, 6:34pm   #42
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by BeginnerJoe View Post
If holding on to a position until it shows a profit works, everyone would be doing it. I wish you and your followers luck.
Exactly, that's why it's a good thing I have a stop-loss in place.
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Old Jun 14, 2011, 7:05pm   #43
Joined Jun 2011
Re: College Fund Challenge

Having followed your open trade closely, I estimate your stop loos is at least 50% of your account balance. With a stop like that, you are playing with fire and risk getting your account burnt down.
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Old Jun 15, 2011, 12:14pm   #44
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread Account 1 still has open trade but now down about -35 pips.

Account 2 up +5.9% for the week.
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Old Jun 15, 2011, 5:45pm   #45
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread Ok Account 1 trade from Sunday night has now closed for +25 pips and a gain for +6.3% for the week.

Account 2 up +5.9% for the week.

Beginner Joe, now you have documented proof that a trade opened, was open long enough for you to see and close in profit. No photoshoping here.
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Old Jun 15, 2011, 5:49pm   #46
 
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Joined May 2011
Re: College Fund Challenge

That $49 loss is pretty huge in comparison to the profits you've been making (albeit consistently). A little worrying to lose 10% of your account on one trade.
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Old Jun 15, 2011, 6:14pm   #47
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by stevewhitworth View Post
That $49 loss is pretty huge in comparison to the profits you've been making (albeit consistently). A little worrying to lose 10% of your account on one trade.
That was old settings and as you can see with the new settings, it hasn't had a loss in 11 months.

Starting with $100, there isn't much to lose anyway. So,,,, if the account went from $100 to $10,000 and dropped even 60%, you would still have $4,000 and $3,900 more then you had to begin with. All a matter of perspective.
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Old Jun 15, 2011, 6:36pm   #48
Joined Jun 2011
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
Ok Account 1 trade from Sunday night has now closed for +25 pips and a gain for +6.3% for the week.

Account 2 up +5.9% for the week.

Beginner Joe, now you have documented proof that a trade opened, was open long enough for you to see and close in profit. No photoshoping here.
We also have documented proof your account went so deep into the red that you have to use significant amount of additional margin money.. So this challenge should be changed to: make 2 million from $100 using additional $2 million as back up margin money..

Anyway I have seen what I needed to see and voted on your poll. Hold until profit shows works a lot of the time. On the one time it stops working, it will wipe you out.

It would be interesting to see how people following you will do in this. I know you have a lot of faith in your system. But I wonder if others are as willing to go down with the ship with you, or even if they have additional money in reserve to put up as margin.

Last edited by BeginnerJoe; Jun 15, 2011 at 6:54pm.
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