Inner Circle Trader's 5k To 1mil - Live Trading Tracking Thread

Trading Discussion Trade Journals
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[B]Hey Babypips![/B] :5:

Well you heard me tout it… I am putting it on the line and my money where my mouth is. Watch me Trade Live with 5000 USD to 1 Million Dollars and completely accessed via MyFxBook.

I will make regular weekly contributions and reflections by means of video. For the Trolls & Naysayers… keep your tongue held until I bust or blow it out. I don’t want a thread full of praises from friends and flames from haters and those jealous that this thread clocks more views than yours. Let the results speak for themselves.

This post will be edited from time to time… and the intent behind this thread is soley to instill hope, inspiration and motivation for those looking for real money results. If nothing else… this thread will probably be used more than anything to measure my worth on Babypips… and I accept that. I have laid a mighty task before me and let me remind you… this was intended well before 2010 folks. It has been spoken…

It shall be done… :57:

[B]ICT’s MyFxBook[/B] :: [B]Click To View[/B]::

[B]MyFxBook Review - Initial Weeks & Market Structure Chat[/B]

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Trade Plan 5k To 1mil In 36 Months

The Trading Plan I will be employing with this LIVE account will evolve over the course of the next 36 months. Initially, I will only be Day Trading for the first year. I will incorporate new strategies and advanced concepts in the second and third years of the challenge.

This account is linked to MyFxBook. All my trade stats, entries, exits, stops, limits and ultimate results are completely accessible. I will not hide or secret any information or trade related data as long as this challenge is on.

The equity will be set to $5000.00 on the first trading day of February 2013.
I will close all trades by 1700 GMT every day I take a trade… regardless of higher timeframe analysis.
I will take London Open & or New York Session Day Trades.
I will use only OTE Patterns in these respective Kill Zones.
I will trade with Key S&R levels and Higher Timeframe Directional Bias.
I will take first profit at 20 pips on every trade… portions on balance at 127 & 162 Fib Ext with ADR.
I will use 5 day ATR for intraday targeting for my final Day Trade Profit Target.
I will incorporate Fib and Pivot levels for both Trade Entries, Profit Taking and Stops.
I will trade up to 6 times per week, never more.
I will not re-enter the same trading day if I make a profit in the London Open and Stop out.
I will not trade Fridays unless all week I have had no trades and or a net loss for the week.
I will trade the Fiber & Cable pairs mainly.
I will on rare occasion trade in the Asian Session the Aus/Usd, Nzd/Usd, Eur/Jpy and Gbp/Jpy pairs.

I will trade with only one position open at any one time.
I will trade with a max Risk Exposure of 3% of equity on any trade.
I will not use leverage beyond $1000 USD per pip on any one trade.
If I experience a loss at 3% in one or a collection of losers, I must reduce my Risk to 1.5% max.
I will not be permitted to trade at 3% until I have made 50% of the loss at 3% exposure.
If I lose again at 1.5% Risk, I must reduce to .75% Risk on my trade. I can trade with 1.5% when and if I recoup 50% of the loss at 1.5% using the .75% ratio to Risk. I will not reduce beyond .75% at any time.

If I take a total drawdown of 6% on any week, I must stop trading until the following week.

I will tweet by means of Twitter account ICT_Babypips thoughts before the trade & or right after entry.
I will recap each trading week with video on LiveStream or Youtube.
I will make daily journal entries with brief analysis on my MyFxBook page.

My targeted Monthly Return Is 16% Compounded.
Weekly Pip Goal Is 40 pips on average. Yes you read that correctly… forty pips for the week.
I will trade each week even if my weekly goal is met. As long as it is not a Friday.
Ideally at 3% Risk if I take first profit at 20 pips and hold the balance for 20 pips more I completed 1 of 2 trades for the week.
I will use or consider months with higher percentage returns for smoothing as part of my success.
My goal is to have zero losing weeks and or months.
I will pay taxes outside of this account to permit equity use for compounding… unless I hit it earlier.
The last trading day of January 2016 my balance or sooner will read 1,000,000.00 USD without deposits.
I will pay 30% before taxation upon completion to two charities… St. Jude and American Cancer Society

The Equity Plan I Intend To Employ Is As Follows:

ICT Equity Plan.jpg700×569 121 KB

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::Reserved:: :13:

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::Reserved::

That should do it folks. :57:

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YAY YAY YAY :smiley: All the absolute best brother! :smiley:

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where’s the myfxbook link? when does it begin? now? about to?
are you going to post your entry/exit trade journal as well?

what timeframe you going to use? what pairs you mainly trade?
if there’s a time limit, how long do you give yourself?

what do you think are your chances

and also how much risk are you willing to take

which broker are u going to use? any rebates? pip spreads?

if you make it to 1 million…im pretty sure you’ll be qualified to handle other ppl’s money, so maybe show banks and others your track record then
maybe even coach ppl for a fee (at least 100-1000+$ an hour)?

what would you do with the million you make? buy houses? make more money on forex? go on a vacation? aim for 100 million?

when you make a million, can i get your autograph?
if you do make a million, do you think you can accomplish the same task once again perhaps with 100$?

btw, good luck! looking forward to see you actually making the 1 mil
Best of Luck!
May Lady Luck be with all of us

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Goodluck Mike!

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This will be good…

:57:

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I’ve seen this type of threads quite a few times here on Babypips, but this is the only thread where I’ve truelly belived it could happen!

Best of luck to you Michael! [B]You are truly an inspiration! [/B]

Do you have any sort of timeframe or deadline for when you want to see that 1 million dollars? Or are you just going to take the time you need, so to say? :slight_smile:

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Thumbs up Michael,

cant wait to witness live how a true pro slashes pips…I wish you all the best:57::57:

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Hey ICT, I think just showing consistent gains over a long period would do as far as showing the naysayers and trolls (are there really that many?). I’m curious how long you’re planning to take to try to accomplish this. 1 year? 15 years? Best of luck.

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[X] Potential to be the most interesting thread ever.
[X] Will be following.
[ ] Managed to post on first page less than 1 hour after first thread post on a Sunday night,

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Good trading … we’ll leave the luck ):

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I have seen ICT turn over 200% from Sept to Nov in the old videos, so I have a fair idea of what’s up ahead.

The excitement for me is’nt in the outcome, I would guess that is inevitable, it’s more in what I can learn from his trading, maybe this is being selfish.

I understand that Michael does not like to comment whilst in a trade - that is part of his make up and this I respect - but my hope is that he will make some comments after trade completion as to his reasoning and thinking during the trade.

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looking forward to this

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I think you are nuts to do it, but I wish you all the best with your challenge… Keep up the good work…:wink:

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Soooo excited to learn more from someone so genuine to freely give knowledge to others :slight_smile:

One question/hope:
Is there any chance of letting us know what sort of trades/setups you watching for at the start of each week - ie. in your weekly wrap up of trades can you also do a quick session on the coming weeks plan?

I’m sure I’m not the only one that would love to ‘trade’ alongside you during this journey :slight_smile:

I don’t expect a free ride or for you to think for me, it would just be the ultimate learning environment for all of us to know how you are looking at the upcoming market, and then to see if our actual trade execution and management was along the same thoughts or where we could have improved.

I just feel so much more is learnt by doing rather than just analyzing after the fact. Of course, anyone following should be demo trading and you should be in no way held accountable for anyone’s losses if they choose to do this as well.

Just a thought, a lot to ask of you I know, but… Please consider it if you weren’t already… And good luck :slight_smile:

Cheers,
Sandi

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Now the question is who will challenge him in this leg race

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Tansen, don’t be shy, go for it… :slight_smile:

Pfff, the idea alone to continue it for over 24 months is putting me off anyway…:slight_smile: Each trade discussed, loss trades called by anyone who is looking for you to fail… Not my kind of game…

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This will be a great learning experience and also to show any haters this is legit, thanks Michael and GLGT!