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Stats: 2,710,458 members, 6,401,132 topics. Date: Friday, 23 July 2021 at 06:26 PM
|12 Months Forex Challenge. by NetValueFX: 7:29pm On Mar 27|
I am thinking of starting a 12 Months Forex challenge. This is born out of an argument I had with a fellow trader. Told him its possible to make a profit of 1:20 in 12 months. For instance 1000 to 20,000 in 12 months, he said its pure suicide.
As a trader what's the best you think a trader could achieve in 12 months in terms of returns.
I have decided to take up the challenge. I just opened an account and funded it. Trading starts tomorrow and is expected to run up until March Next year.
The challenge is to have an account balance that is 20 times the initial deposit by March 2022.
Follow the account via the FXBlue link on my
Lexusgs430 I will be buying 3 of you soon
|Re: 12 Months Forex Challenge. by dawnomike(m): 8:09pm On Mar 27|
NetValueFX:It is very much possible but a very risky venture as decisions will be clouded by the goal you aim to reach.
Remember: Emotions and greed are every trader's enemy!!!
3 Likes 1 Share
|Re: 12 Months Forex Challenge. by NetValueFX: 8:22pm On Mar 27|
dawnomike:I understand. I believe that's the aim of challenge sha, to test our ability to stick to what we have proven to work no matter what.
|Re: 12 Months Forex Challenge. by Arkmanbuddy(m): 8:39pm On Mar 27|
It's very much possible if you have the adequate Forex skill.
It's all about having weekly targets while you increase your account.
|Re: 12 Months Forex Challenge. by phr33man(m): 8:50pm On Mar 27|
Please I need mentorship on forex trading. I'm a newbie. I will appreciate if anyone can give support.
|Re: 12 Months Forex Challenge. by NetValueFX: 9:05pm On Mar 27|
Arkmanbuddy:I am looking at monthly target as weekly target could trigger unnecessary emotions.
I did the maths and what I need to achieve is 29% profit per month. Compounding it every month.
|Re: 12 Months Forex Challenge. by Bitbibx: 10:20pm On Mar 27|
NetValueFX:it's all about your R/R risk-to-reward ratio, I will advice you take swing trade mostly 1D timeframe your target can be achieved
3 Likes 1 Share
|Re: 12 Months Forex Challenge. by Arkmanbuddy(m): 5:33am On Mar 28|
Note what I said: "as you grow your account". The more you grow your account, the more risk you can take. The more risks you take, the more money you make. If you have the skill and don't just depend on any robot to trade for you, it's very possible to even exceed your target.
|Re: 12 Months Forex Challenge. by NetValueFX: 7:15am On Mar 28|
Arkmanbuddy:Na, I don't do robots
|Re: 12 Months Forex Challenge. by NetValueFX: 7:17am On Mar 28|
Bitbibx:Actually I trade H4 now. Using D1 would take only for my trades to materialize. I don't go below H4 except when I want to check possible change in trend.
My profit factor is over 6. So, for every one loss 1 have 6 wins
|Re: 12 Months Forex Challenge. by Lexusgs430: 7:32am On Mar 28|
This move, would plunge your trading balance to 0........
Well, not unless another game, stops on us..........
|Re: 12 Months Forex Challenge. by NetValueFX: 7:37am On Mar 28|
Lexusgs430:Hahaha... You no try at all. The Yehs have it. Na only u dey for Neh
I will do it to shame your village people
When I am done I will buy 2x lexusgs430 which means buying two of you
|Re: 12 Months Forex Challenge. by Lexusgs430: 8:00am On Mar 28|
You must share your complete portfolio ó......
Nah my Lexus, we go use carry your luggage, back to your village........
|Re: 12 Months Forex Challenge. by NetValueFX: 8:43am On Mar 28|
Lexusgs430:Hahaha... I go buy your lexus join.
I will share the portfolio sha
|Re: 12 Months Forex Challenge. by Bitbibx: 10:14am On Mar 28|
NetValueFX:ok I understand, what LOT size do you intend using on a standard account
|Re: 12 Months Forex Challenge. by NetValueFX: 10:31am On Mar 28|
Bitbibx:0.02 per 1k on weeks with no Red news and 0.01 per 1k on weeks with Red news
4 Likes 1 Share
|Re: 12 Months Forex Challenge. by Help2020: 1:47pm On Mar 28|
Arkmanbuddy:Target?this statement only shows that you don't know what forex is.
|Re: 12 Months Forex Challenge. by Help2020: 1:49pm On Mar 28|
NetValueFX:Do you mean $20,00 or naira?
In any case, it's your startup capital that determines that...
Come to my house and trade with me.
|Re: 12 Months Forex Challenge. by Help2020: 1:51pm On Mar 28|
NetValueFX:For every 1 loss you need to have 6 wins to recover? That's negative risk to reward ratio(R/R).If you have losing streak you may find it difficult to recover
|Re: 12 Months Forex Challenge. by NetValueFX: 2:14pm On Mar 28|
Help2020:That's not what profit factor is. You must be talking of sharpe ratio.
A profit factor of 6 means for every 10usd loss, you made 60usd.
As matter of fact, a profit factor of 2 is considered awesome in forex.
|Re: 12 Months Forex Challenge. by NetValueFX: 2:19pm On Mar 28|
Help2020:Lol... Whether naira or dollar, na the 1:20 investment to reward ratio matter.
I will most probably use a cent account in other to allow for appropriate increase in lot size.
Your food go dey short like mad if I come your house.
|Re: 12 Months Forex Challenge. by Nobody: 4:41am On Mar 30|
|Re: 12 Months Forex Challenge. by Stephenmoka4(m): 8:14am On Mar 30|
1:20 in a year, reminds me of 20 odds in a year. It is possible on Forex, just don't get carried away or start switching/changing plans.
|Re: 12 Months Forex Challenge. by Arkmanbuddy(m): 8:27pm On Mar 30|
I've been trading Forex before you were born. Before you jump into a discussion, understand fully what it's all about.
|Re: 12 Months Forex Challenge. by Chidexter(m): 9:28pm On Mar 30|
|Re: 12 Months Forex Challenge. by SavageResponse(m): 1:10pm On Mar 31|
No mind am na so dem dey talk
|Re: 12 Months Forex Challenge. by Excell3nt: 12:31pm On Apr 01|
Its possible to visualize, as long as you know your goal problem is half solved, you can make any amout you set your mind to, frankly there is no rule that govern how you earn, i have seen alot of things, people flipping $1,2 to a large capital to a larger capital within weeks, its very possible if you know what you are doing, if you dont have a edge, knowing the market conditions at different sessions, please don't go for that challenge, those are the key points you should master and then the market is all yours. Gracias.
|Re: 12 Months Forex Challenge. by Help2020: 2:59pm On Apr 01|
Arkmanbuddy:Lol.when did you start trading oga?
|Re: 12 Months Forex Challenge. by Blinkharm: 4:34pm On Apr 01|
|Re: 12 Months Forex Challenge. by Blinkharm: 4:36pm On Apr 01|
i will be following you closely and let see how it goes, i promise you if you archive 80% of this challenge we will work on something very huge.
|Re: 12 Months Forex Challenge. by felixzo1(m): 4:40pm On Apr 01|
its not possible , he will be over leveraging and risking too much if he tries to achieve that. best hedge funds managers achieve only 30 to 50% returns a year.
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