$10,000 Demo Account Challenge

Trading robot still not working. Missed closing the trade twice. Once yesterday when it should have closed the trade when in profit, and again when the EMA’s crossed to minimise my loss. At present it’s still running towards the stop loss which if hit will realise a loss of over $400.

Sad times. Glad it’s a demo account.

Is this MT5? If you send me the source code, I can take a look for you.

It’s MetaTrader4

I’ve decided to just let the trade run until it either hits SL or TP. The D1 chart is still signalling that the market is going in my direction so I’m hoping the H1 and M15 charts will have a market correction before I hit SL and follow the D1.

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This is great, thanks for sharing! I’m working my way through the school, I’m looking forward to doing this myself!

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simple strategies are mostly the best, i’m excited to look how your account will develope.
I have to confess that trading only 2 days a week, meaning 8 days per month and only 1 currency pair, and gain 10% is not that realistic. I don’t think you will find on every 8 trading day a good set up worth being traded so you will need very big winning trades… but let’s see :slight_smile:

let me give you a crucial tip: you should set your exits (TP and SL) on timeframes which equal to your holding period. So if you are planing to hold your trades open for a few minutes to max 1 hour M5 could be just fine but I guess you are planing on holding trades a few hours open before they hit your exit so setting your TP and SL on h1 would be the better deal. I think you would get stopped out a lot of times if placing on M5, especially if you look on D1 for the (main)trend.

you should also think about using the EMA(14) instead of the EMA(7) as signal, I think Movin Averages from 3 - 10 represent (very short period) momentum while a 14x50 crossover could be more reliabel.

But this are only my personal preferences and experiences. please let me know what you think about it and success to your challange :muscle:t4:


i thought i started understanding but got lost

Here’s a quick update on this trade.

It’s now been over a week and this trade is still running! The day the EA was supposed to close the trade it was just over $100 in profit. It’s since been fluctuating between teetering on profit and up to $350 negative, at the time of writing this post it’s approximately $290 negative. If it hit’s the stop loss my account will take a huge hit of $495.

I’ve now moved my take profit to $100 in hope that the trade will eventually go back in my direction. I’m also checking the trade periodically and will close it manually if it goes into profit, I may even choose to close it a little early at a loss.

Poop! :poop:

After almost 2 weeks the trade has finally hit stop loss for a huge loss of $491.70. I’m actually happy for this as I’ve learnt a lot from the trade and also very grateful these lessons have been learnt on my demo account.

New account balance $9514.06

The biggest lesson on this trade is that you should never rely on a trading robot to do your trading. You need to make sure you’re still in the game and are checking the trade, especially at points in time when you robot is supposed to do a particular action. My robot was supposed to close the trade at the end of each trading day if the trade was in profit. If it did this it would have closed on day one with a profit of around $100. After that failed it went into negative and stayed negative for two weeks. I’ve since checked my robot programming and noticed a few mistakes which have now been fixed.

I’m going to check the charts and redeploy the robot and see if it can pick up (and close) some more trades. I’ll also be making sure I keep an eye on what’s happening.

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A lot has happened since I last posted on this thread, mainly in the way of more education! I think I also mentioned on another thread that I was abandoning this challenge and was going to start trading with real money. Well, that didn’t happen.

Instead I’ve been studying Al Brooks ‘Brooks Trading Course’ which has been really helpful. I’m probably only a quarter of the way through the course, but feel I’ve learnt a lot. I’m doing the course for around 1 hour a day in the evenings and maybe a few more hours over the weekends when I get time.

Anyway, I’ve decided to pick up this demo account and try and reverse my previous bad trades and get back to completing the challenge. Never give up!

Since I lost that colossal $491.70 trying to trade with an EA I dipped back in last month and placed 6 more trades, 3 wins and 3 losses, unfortunately I lost more than won to the tune of $11.04.

Today I decided to try again. This morning I jumped in and placed 3 trades on the bounce and after they started to form I realised I’d not actually been using what I’ve learnt on the Brooks Trading Course, so I ended coming out of all those trades with a total loss of $63.70.

I subsequently went back to the charts and worked out what I think might happen using the price action techniques I’ve picked up from the course and have placed a trade going short on XAGUSD. At this moment in time it’s in profit.

I’m treating this as a swing trade and I’m managing the trade stop loss position as per the course teaching and have left the take profit open. The stop loss is currently in the green with a $40 profit, so I will see how far I can ride the trade.

Update to come…


Boom! :boom:

I’m not sure what trade number this is in my challenge, but to honestly it doesn’t matter as it’s a winner and just what I needed.

So, as I said in my last post this was very much a manual trade using some of the techniques I’ve learnt on the Brooks Trading Course. I ended up setting a TP when I saw that the candle sticks started to look like doji and the market was trying to pull back.

Anyway, this trade was a very tasty $401.00 profit.

New account balance $9840.21


How long were you in the trade for?


good to see you resuming the thread, Pauley

hope you don’t mind me weighing in again (you’ve always been tactful about it before!)

what does that mean, to you? no “agenda” at all, in asking - i just know different people can mean very different things by that term(?)

wow, that’s huge, for one trade on a $10k account? … good! :sunglasses:

I entered the trade at around 11:50am and exited at approx 14:30pm. UK time.

In regards to the swing trade, I opened the trade a couple of candles after it hit a new major higher low and then followed the trade down until it looked like the market was as flattening out. Which worked well as a few candles after I exited the market went in the other direction, then ended up in a trading range.

Yep, pretty good profit, opened the position at 0.2 so it was largish for the account size, but my SL was correctly placed and my risk was initially just under 2% of my total balance.


You hit the news release. It may sound like a good trade because you won big. But I’d bet money that you’ll blow your account trading positions that big.

On the plus side, USD is so strong that trading almost anything against it is likely to win. Maybe a pullback on the cards, but the US economy looks much better than UK, Europe, China, Australia and NZ. Japan are keeping their interest rate low to keep exports flowing. So USD looks set for another bull run now that interest rate hikes are nearly over.

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What was the news release?

I just double checked the babypips economic calendar and there doesn’t appear to have been any major news during this trade.

My risk for this trade was just under 2% of the account balance, so I would have to do 50 failed trades to blow the account. Admittedly I would normally only risk 1%, but I don’t see 2% as overly reckless.

You have right mix of technical indicators so with a bit of experience you should gain intuition which parameters (i.e. rolling window) would be a best fit. This is definitely a trials and errors process, no system works perfectly from the very start.

It’s 9:05am in the UK and I’ve just placed an sell order on EUR/USD.

After @chesterjohn mentioning that my position size may have been too big I’ve open a small order for just a lot size of 0.1. This means that with my stop loss I’m only risking 0.12% of my account! So in hindsight I should have probably opened a position of 1 lot which would have risked approx 1.2% of my account. I’ve set a TP for a small profit target of $5.

Lets see how this one plans out.

Account balance $9,840.21

Trade EUR/USD short, volume 0.1

Entry price 1.07124
Stop Loss 1.07251
Take Profit 1.07074

Poop! :poop:

After approximately 30 mins the trade started to look not so good and the market entered a trading range. To mitigate my risk I decided to move my SL to the most recent higher low, which was triggered for a loss of just $4. Not amazing but at the same time not bad, as I’m happy how I managed the trade to decrease my final loss.

New account balance $9510.06