College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; With much thought, I have decided to open up a journal for everyone to see. I have challenged myself to ...

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 May 31, 2011, 8:22pm   #1
Joined Sep 2010
College Fund Challenge

With much thought, I have decided to open up a journal for everyone to see. I have challenged myself to turn as little as $100 into $2,000,000 in two years. I use a simple EA called Turbo Morning Trade as a base but with very different settings. I offer this challenge to myself, however anyone who would like to join me at any time may.

I have just started so I don't have a lot of bragging rights as of yet but I do have quite a bit of back testing results to the tune of 61% gain on average per month. My goal is 30-60% a month forward results. I have opened two live accounts with $200 or under to begin with.

The results will vary a little between them as no two brokers will have exact results.

I will attempt to update per trade. Some trades are open for several hours or even days so I won't post every day.

I will post weekly results as well as monthly summaries.

Good luck to me and all those who take on my challenge.
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Old May 31, 2011, 8:27pm   #2
 
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Joined Jul 2007
Re: College Fund Challenge

Well, I wish you luck but I remain doubtful as will anyone who has been around a while. Keep us posted. If you do turn $100 into $2m in two years, we will regard you as a hero.
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Old May 31, 2011, 8:30pm   #3
 
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Re: College Fund Challenge

I'm curious how did you do your backtesting or what software did you use? Don't forget about slippage and be careful with leverage. It won't take much of an adverse move to wipe out an account if you are highly leveraged. Good luck on your trading.
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Old May 31, 2011, 9:03pm   #4
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by jeffusa View Post
I'm curious how did you do your backtesting or what software did you use? Don't forget about slippage and be careful with leverage. It won't take much of an adverse move to wipe out an account if you are highly leveraged. Good luck on your trading.
I went as far back as my data would allow, June 30 of 2010. I plugged in settings and ran hundreds of tests to come to my current settings. This works best on a broker with very tight spreads of 3 pips or less. I am using ******** and FXDD. FXDD is limited because of 1:50 leverage so the gains, I expect will be from 10-15% but ******** with leverage of 1:300, I can be more liberal with my risk. No, I don't think I am over leveraged but am highly and if 1 negative trade hits me, it will knock me down a bit but not wipe me out. I figure starting with $100, can't knock me down much anyway, right? It account grows to $5,000 and a bad trade takes to down to $2,500 I'm still up a heck of a lot. Can't predict the future but 11 months of ZERO loss gets me pretty confident there won't be more than a possible 1 loss a year. (Fingers crossed)
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Old May 31, 2011, 9:59pm   #5
 
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Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
I figure starting with $100, can't knock me down much anyway, right?
Say you're in a scalp trade, $20/pip, a stop of 5, that's $100 risk in one trade. Shock news comes out - Greece has been invaded by Germany who want their money back. Euro spikes down 50 pips. You now owe your broker $20x50. Catches out many (the excessive risk, not Germany invading all the time).
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Old May 31, 2011, 10:40pm   #6
Joined Mar 2011
Re: College Fund Challenge

Go for it! You only have $100 to lose anyway. Good luck.
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Old Jun 1, 2011, 12:15pm   #7
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread No trade again for the 3rd day in a row.

The Month of May Totals
Account 1= +18% Grand total= -14%

Account 2= +32.7% Grand total= +32.7%
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