My Prop Firm Strategy Testing Ground. - Investment (10) - Nairaland
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| Re: My Prop Firm Strategy Testing Ground. by kingar(m): 12:34pm On Oct 07, 2023 |
I find this thread very interesting. I pitch my tent here |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 9:11pm On Oct 08, 2023 |
Evening guys, so like we all know this past two weeks have been tough on my end, honestly once your psychology is messed up, there's no going back if not properly managed, you go just blow all your account... thank God for the little discipline.... When our big bosses they scream every phase comes with its own challenge, i don experience am real time.. In order words no be to rush pass the challenge if you dont have a stable system in place you will mess it up.... overconfidence kills and low confidence isn't also good, you need to find a balance... i broke alot of my rules and started feeling invincible in the market, well market leta hunt me out.... I still have one bad habit left and i really need to kill it else na big wahala and that habit is over trading and shifting sl when in red.... So i will be taking a break from all my challenge accounts and focus fully on killing this habit ... So i will take it one week at a time, till whenever I feel im ready.... Well I've brainstormed tire this week until i came across an image one of our big bosses posted here... One good trade per week is enough to grow an account and with unlimited time limit all it will take is time.... Secondly I remembered the account im playing around with is 200k account, with 20k as capital so thats equivalent of 20million, If i make 500 from that account monthly that 500k even if i start to find work now... I no sure say i go see work wey go pay that amount in 2 years time.... So I've decided to create a ftmo 200k trail account.... I will be aiming for 65 pips every week Will take the next three months to test run this new stuff if i can hit 65 pips consistently 8weeks out of 12, thats a good progress, so it will eventually take 18 months to conclude phase one and phase two .... Its far right but i then remembered I've already spent three months and im still in red, so why hurry when i can take it slowly.... So i will still be updating my record like i use to before i deviated due to bad habbit 200k account is 0.9% in DD. 6k account 2.5% in DD And 10k account 5.4% in Dd. Its a mess |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 9:40pm On Oct 08, 2023 |
Strategy i want to work with Stop loss remains the same 45 pips..... Take profit will be flexible, whenever i notice the formation of opposite trend candle from lower TF up to higher time trade will be closed manually.... It could be 10 pips or 20 pips or however ir comes... but i will do my analysis with 70 pips in mind so i don't fall for false signals..... Profit target for the week will be 1 to 1.5 Which means 69 pips per week ..... Any week where i record sl hitting, the rest of the days will be focused on recovering loss, once recovered we move on to the next week..... It will be messy I Know but i go try to dey discipline..... With lot of 0.77 on 200k account So i will be risking 350 dollars per trade to get 500 dollars ... Which is 1% every 4 months |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 7:48am On Oct 09, 2023 |
Week 1 Of 12 Gbpusd sold Entry 21910 Tp 21550 Sl 22260 You can monitor my test here, call me out when i break the rules... im doing this to force the discipline, one single trade at a time Login: 2102639687 Read-only password: 17FLP87 Server: Ftmo-demo
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| Re: My Prop Firm Strategy Testing Ground. by kingar(m): 12:24pm On Oct 09, 2023 |
I will suggest you use a tighter stoploss. 45pip sl is too much for a day trader. Consider this 1. Patiently wait for the trade to get to your demand or supply zone. 2. Wait for confirmation b4 taking the trade. Doing this will cut low the sl pips and greater chance of quality trade. And your tp will hit early enough |
| Re: My Prop Firm Strategy Testing Ground. by kingar(m): 12:27pm On Oct 09, 2023 |
I’m waiting to sell GU aswell but while waiting for it to get to my zone im also scalping the buys using 1M till it gets there and I’ll then risk the scalp profit for the bigger trade
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 1:13pm On Oct 09, 2023 |
Donsheddy: Trade Closed Manually 20 pips profit, market gone quiet
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 1:14pm On Oct 09, 2023 |
kingar: Noted bro 1 Like |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 4:07pm On Oct 09, 2023 |
Riding Gu bulls now Entry 22160 Sl 21830 Tp 22550 1 Like
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| Re: My Prop Firm Strategy Testing Ground. by kingar(m): 4:19pm On Oct 09, 2023 |
This entry is fine but I suggest it’s too late. I like your calculating formula in the business, we can be team. Chat me More wins and bigger lots aheads |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 6:38pm On Oct 09, 2023 |
kingar: Okay bro |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 6:48pm On Oct 09, 2023 |
Donsheddy: Trade closed Manually with 13 pips profit... we go again tomorrow |
| Re: My Prop Firm Strategy Testing Ground. by Ibrahimlagosian(m): 8:02pm On Oct 09, 2023 |
If that'so,you might need a retweak in your strategy bro.you need to learn to how to catch many pips from a trade.trust me,most stress come from making many trades,if you're trading only gbpusd,why not learn to catch long term movement?,the market (GU)have been selling since last 5-6 weeks continuosly.why not learn to catch much rather than targeting peanuts? It's also obvious that your trades are always closed before hitting Tp or Sl,that's why your wins are always small and inconsistent.. Donsheddy: |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 8:48pm On Oct 09, 2023 |
Ibrahimlagosian: I dont have the patience to wait out trades that long... I tried and failed at it... So retweaking of strategy got me here .. |
| Re: My Prop Firm Strategy Testing Ground. by Ibrahimlagosian(m): 8:57pm On Oct 09, 2023 |
You're lacking a very important component of a trading arsenal bro.Work on patience and achieve it just as you have achieved discipline. Every trader must be discipline and patient. Donsheddy: |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 8:12am On Oct 10, 2023 |
Riding Gu bulls today. Entry 22280 Sl 21950 Tp 22700
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 9:39am On Oct 10, 2023 |
Week 1 Results Okay Week 1 is a wrap 75 pips bagged.... Monday - 32 pips Tuesday - 43 pips 11 more to go before head go clear ..
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 12:03pm On Oct 11, 2023 |
Gu bought today Entry 22950 Sl 22600 Tp 23450
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| Re: My Prop Firm Strategy Testing Ground. by Ibrahimlagosian(m): 12:47pm On Oct 12, 2023 |
Hello |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 1:00pm On Oct 12, 2023 |
Ibrahimlagosian: Hi bro |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 1:00pm On Oct 12, 2023 |
Awaiting Cpi Buy order set on gbpusd Ent 23250 Sl 22900 Tp 23800 Modified buy order wasn't picked, they entered my place of interest gor bears and i sold Ent 22660 Sl 23060 Tp 22160
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 2:56pm On Oct 12, 2023 |
Donsheddy: Trade Closed With 30 pips profit
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 8:44am On Oct 13, 2023 |
Riding gu bulls now Ent 22180 Sl 21840 Tp 22600
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 10:51am On Oct 13, 2023 |
Donsheddy: Trade Closed With 25 pips loss bullish gamble didn't play out
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 3:43pm On Oct 13, 2023 |
How it went today... The journey continues
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 6:05pm On Oct 14, 2023 |
Week 1 Report: We all know this is my testing ground to journal my experiences and improvement, the truth is until we get a system that we trust and believe in we wil always give back to the market. We will over trade when we experience drawdowns and losses...... As important as entry strategy is, exit strategy is also important, now i understand what it means by being flexible.... I've gotten alot of good trades and have missed out on a lot profits because i lacked exit strategy... Putting take profit outside key area because i have an intended target, forgetting that i can only take as much as the market gives..... I just realized that now..... I looked back at my worst weeks, I've watched 80, 70,60,50,40 pips running profit disappear before my eyes because i didn't have a good exit plan.... So my trading is simple and straight forward now.... I mark my key levels and wait for market to enter my zone, join the move and jump out at the next bridge... I dont care if the next bridge is 5 pips 😂 but its going to be more than that hopefully. .. I really want to put greed in check and instill this discipline by force 1 Like |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 6:21pm On Oct 14, 2023 |
Week 1 Report: contd. So I figured that i don't need to stop trading when the weekly target is met it won't help my learning process or help me understand how profitable it is if i trade everyday and 💯 disciplined... So i created two accounts, one i will trade always as long as i get signal...and one i will stop trading when i hit 70 pips profit..... Monday --- 32 pips profit Tuesday --- 43 pips profit Wednesday --- 41 pips profit Thursday --- 27 pips profit Friday. --- 23 pips profit Total --- 166 pips profit Min profit target - 70 pips met
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 9:26am On Oct 16, 2023 |
happy new week Gbp sold Ent 21550 Sl 21850 Tp 21100
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 7:21pm On Oct 16, 2023 |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 7:40am On Oct 17, 2023 |
still gbpusd bears today Entry 21750 Sl 22150 Tp 22200
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| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 6:26am On Oct 18, 2023 |
| Re: My Prop Firm Strategy Testing Ground. by Donsheddy: 9:00am On Oct 18, 2023 |
Still with gu bears, this trade is a gamble and can only be safe if market gets to 21700, i just felt like taking the risk since 22200 is still protected Entry 21900 Sl 22200 Tp 21250
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