$1000 to $1 million in 14 months Trading Challenge

Beginner Questions
1

Hi babypipers,

I am taking on a challenge turning $1000 into $1 million in 14 months.

By posting my results here will help me stay more disciplined, keeping my psychology in check and keep me from making silly mistakes.

The Trade:

I will be daytrading/scalping the EUR/USD in 1 min chart.

Trading hours: London/U.S overlapping session, 7am -12pm E.S.T (Eastern Standard Time in U.S)

Number of trades per day: Less than 10 trades.

My daily goal is to capture minimum of 20 pips up towards 30+ pips per day if the market moves well for the day.

Will post my results weekly.

The journey has already started in: 02/22/2016

Wish me luck,
TC

1 Like
2

I think Larry Williams is soon gonna be feeling shame. LOL.:59:

3

Good luck…

4

Hard work ahead… good luck!

5

What indicators do you use?

6

Good Luck and keep us posted with your results.

7

Well, good luck to you, I hope you’ll post frequent updates to show us how it’s going.

8

Thanks for your support folks,

Here are my results for 1st week

2/22 Mon $1,000 + 26% ($260)

2/23 Tue $1,260 + 14.28% ($180)

2/24 Wed $1,440 + 25.35% ($365)

2/25 Thu $1,805 + 5.27% ($107)

2/26 Fri $1,912 did not trade

Total % return on this week was 91.2% I was actually aiming for at least 100% but market doesn’t seem to move that well this week except on Friday where I actually took a break!:49: Yea… when I’m not involved, market just moves like crazy and just as I get in, it starts to slow down…

This % seems lot for only a week of trading because the starting amount is small but it will be for only a few weeks until that % goes down dramatically. Eventually my daily goal will reduce to 2-3% a day.

Hoping for great moves this week! :slight_smile:

9

good ole moving averages, stochastics and MACD

11

WOW, GOOD on U !

Had an ok week myself.

Curious, what risk/reward ratio U applied?

WHY, 14 Months for the mill.?

And go get em !

Turtle.

12

I have a feeling this may not end well. I could be wrong, but I suppose it’s worth watching.

13

what is up with the odd span of time (14 months) why not 12 or 24 months?

14

I was wondering about that too. Either way, I hope it works out for him.

15

I usually apply RR on the trade that has very high probability of a strong move in my favor, which happens only a few times during the trading hours. Those trades I go for anywhere between 10+ to 20+ pips, in which lot of the times I get scared and TP for 10+ only to see the trade fires my way infinitely. I’m still working on my nerves to try to stay in the trade as long as I’m in the green but it’s tough. The RR is usually between 1:2 to 1:4 depending on how far the move will go. Other times, since I’m a quick scalper, I watch my trade until it becomes no longer valid and either exit out for small loss or profit, looking for about 3-7 pips. I try to give at least 1:1 RR on those.

And for the 14 months, I just gave myself 2 months cushion on a 12 months challenge so if anything bad happens, I don’t have to feel too much pressure for time.

TC.

16

Very interesting with those indicators, Im sure theyre doing well for you…

17

Very interesting challenge. Can u take me alone
Iam newbiew. Have chance to give me some advice to profit in trading. Thank you

QUOTE=tc112016;749992]Hi babypipers,

I am taking on a challenge turning $1000 into $1 million in 14 months.

By posting my results here will help me stay more disciplined, keeping my psychology in check and keep me from making silly mistakes.

The Trade:

I will be daytrading/scalping the EUR/USD in 1 min chart.

Trading hours: London/U.S overlapping session, 7am -12pm E.S.T (Eastern Standard Time in U.S)

Number of trades per day: Less than 10 trades.

My daily goal is to capture minimum of 20 pips up towards 30+ pips per day if the market moves well for the day.

Will post my results weekly.

The journey has already started in: 02/22/2016

Wish me luck,
TC[/QUOTE]

18

how many pips did you earn? call me skeptical but i have a strong feeling you may be over leveraging or using risky lot sizes.

19

Hi TC

Waiting for your new results. Can you share your way of trading or show some trades you made? It looks very impressive

Good luck

TC

20

I’m also curious of the strategy as well. This sounds far too good to be true. $1,000 into $1,000,000 in just over a year is insanity.

21

Here are my results for 2nd week

2/29 Mon $1,912 - 17% (-$325)

3/1 Tue $1,587 + 13.04% ($207)

3/2 Wed $1,794 - 8.7% (-$156)

3/3 Thu $1,638 + 28.21% ($462)

3/4 Fri $2,100 + 14.62% ($307)

         $2,407

This week was not a good week, only pulled +25.89% this week.

Monday was my biggest loser cause I was trying on a new strategy. Silly me to do it live and on MONDAY! So I quickly dump that idea.

On Wednesday, the market was flat and the price was just hovering around or near the major support. Trade was not going my way so I called it a day before losing anymore money. Later that day, there was an opportunity for me to go long but I was psychologically not ready, I was scared to enter and way it went for 30 pips without me. O well, it’s one of those days better to be safe.

Generally this week’s market has been flat except for Thursday and Friday.

But I’m glad I have turned negative week into a positive.

See you guys next week, Cheers~

TC.