College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; Ok, I had the 15 min chart open a sell last night and the 1hr chart already had the sell ...

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%
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Old Jan 11, 2012, 3:20pm   #575
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread Ok, I had the 15 min chart open a sell last night and the 1hr chart already had the sell from Monday. They both closed for 15 pips and 40 pips. That gained me +14.2% for a good start of the recovery.
I have just three trades left on the 1hr chart to gain back my loss.

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Old Jan 13, 2012, 5:45am   #576
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread Another identical trade set up from yesterday so won't say much accept it gained again a bit over 12%. Now I just need two more wins on the 1hr chart.
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Old Jan 13, 2012, 2:46pm   #577
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Re: College Fund Challenge

tkbieber started this thread Ok, well the jpy is still open with just -4 pips atm.
GBP has that buy on the 15 min chart for -154 and I got +2 pips on the 1hr chart.

Grand total so far this month is +12%. I'll take it.

Update: That buy that I had going on for a week finally closed -225 which brought me to about break-even for the month. Now I get to play catch-up on the 15m chart as well. For those running the same system I do, I take the amount lost, divide by 80 pips and leverage that for the next two trades on the 15m chart. Good luck to us.

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Old Jan 16, 2012, 6:41pm   #578
 
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Re: College Fund Challenge

congrats on the new high on the account, it takes some nerve to continue trading a set up after dropping so far back so well done. I still think that the key to your success will be finding a way of making sure this does not happen again.

40% loss on one trade is not sustainable.
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Old Jan 17, 2012, 6:25pm   #579
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by Vaco View Post
congrats on the new high on the account, it takes some nerve to continue trading a set up after dropping so far back so well done. I still think that the key to your success will be finding a way of making sure this does not happen again.

40% loss on one trade is not sustainable.
Thanks. I agree that 40% is big. The flaw I have with this system is if there is ever 3 bad trades in a row, that just devastates the account. In the last year and a half, I have not seen that but it's just a matter of time I'd say.

The key at this point is just just not start with as much of a risk. Maybe 3% risk starting out so that one could afford to go through three bad trades in a row and survive.

Today there is one trade left open that when/if it closes in profit, all loss from December will be re-gained. The JPY also closed as well.

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Old Jan 19, 2012, 3:13pm   #580
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Re: College Fund Challenge

tkbieber started this thread The 1hr chart is back to 10% risk as all losses have been made up. The 15m chart all losses have been made up but a straggling trade was still open for a sell at higher risk and that is still open. Last night another buy opened at equal leverage so one of the two at least will be closing in profit.

It's always a cliff-hanger here on the market.

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Old Jan 23, 2012, 4:19pm   #581
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Re: College Fund Challenge

tkbieber started this thread That sell last week ended in a loss so I went up on the risk on the 15 min chart. Because there were something like three good trades in a row before that loss, I didn't go up on the risk as much because I didn't need to. I got one good trade this morning so just one left and I'll bring that risk down and will all be at low risk again.

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