Aliassmith Beats a "Dead Horse"

[aliassmith]

EU M5 London
3 to 4 pips SL
About 18 pips gain on first push down
Done for the day, based on previous post.

[aliassmith]

EURUSD M5 London
SL is 3 pips
Gain is about 12
Done
I know my lines are off a bit.

[aliassmith]

The previous pic is from 5%ers growth program of their $40k instant funding.

You start at a level to prove yourself ($10,000) to make $600 before you lose $400. You then trade $40,000 live.

I know it is a tight squeeze at first and you will need to watch your pennies. As you move away with profit, you will gain more breathing room.

I am going to base my "idea" on the EURUSD. I know some think it is dead and not worth trading, but I disagree. The EURUSD has plenty of movement to hit my goal. The goal is 50 pips a week. I am sure you get it, that is 10 pips a day average. That is something we talked about in the forum years back. All you need is 10 pips a day and you will be set. I believe that holds true.

I know there is a lot of discussion of high R trading, this isn't about that. It is more about trades where the size is always the same until you reach the next level. For example, you could trade your full leverage of 1:10 on each trade as long as your SL is under 5 pips.

We can start on the conservative side and use a size where 25 pips are equal to 1% of the $10,000. In this setup you will make 2% a week.

Funded Trader Level 1 requires 6% to pass so according to our 2% a week numbers it takes 3 weeks to level up.
Funded Trader Level 2 requires 10% to pass, so 5 weeks
Funded Trader Level 3 requires 10% to pass, so 5 weeks
Funded Trader Level 4 requires 10% to pass, so 5 weeks
Funded Trader Level 5 requires 10% to pass, so 5 weeks
Funded Trader Level 6 requires 10% to pass, so 5 weeks
Funded Trader Level 7 requires 10% to pass, so 5 weeks

33 weeks (66%) to get to the max level of 8 which shows $4,000,000 in trading capital. The split is 50/50, in essence you have a $2,000,000 account all to yourself.

Going by or 2% a week theme, on a $2,000,000 account, you would make $40,000/week.
52 weeks and all of that is about $2,000,000 after the split.

I would leave cash in there to keep a larger room for drawdown. You could then do 10 pips = 1% if you are good enough. Now you are talking about $100,000 a week or about $5,000,000 a year.

This was only a basic example on the old theme of 10 pips a day. There are other ways to accomplish this especially through good Higher R trading with low risk

As a side note based on recent stats, I believe the 2% a week is the most logical outcome. MyForexFunds released data saying that their consistently profitable traders make 4% to 8% a month.

If you are on the lower end of 1% a week, no sweat, that is 66 weeks to max out and $1,000,000 a year.

Note: They do allow you to have up to 3 accounts if the need arises.

Don't go into this cold turkey. Make use of FTMO's free trials. You can get a new one every 14 days and you can learn a lot about yourself. Just remember 5%ers is only 4% Drawdown so keep that in mind.

Maybe you want to trade US30 at 75 pts = 1% so 150 pts a week gets you there also.

Oops I realized I was referring to the $80k plan not the $40k.
So the $40k plan requires 5 more weeks of 10% then 76% to max.

[aliassmith]

I finished DaveTeaches Master Class.
I liked it but had enough of his dancing.
I went over to watch ProCharge's other buddy NAS.

What he shows is interesting, NAS is not.
However, he doesn't seem to use everything he learned from Dave.
NAS leans heavily on S/D areas.
He even goes as far as saying to treat imbalances as S/D.

If you watch NAS and or Dave enough, you can get valuable lessons on chart analysis.
I have seen people say on my goodness his/their videos are so long.
Other than the goofing around there is a lot of value seeing the analysis happen in motion vs. static charts

Anyway, I applied some of the S/D action to this EU chart, in honor of my last Idea post.
Conveniently also in line with the 20 sma.
It appears in about 1 hour of trading the M1 had enough opportunity to make 40 pips or more.
EU does give enough to hit the 50 pips per week goal.

[aliassmith]

Maxing out 5%ers tips and becoming a multi-millionaire in 2 years.
(Definitely not the instant gratification plan!)

Issue #1: If you can't trade don't try it
Issue #2: If you can't afford it don't try it

Issue #3: Only allowed 4% drawdown, don't risk a lot
On the $10,000 starter account 1% is $100. Make 25 pips = to $100
$4 a pip or .4 lots will do it. This is assuming most of your stop outs will be about 5 pips.

Issue #4: Every single trade needs a SL order less than 25 when it is placed. Learn to use the
Depth of Market to place your trades. It can be setup to be a 1 click entry and also have
your SL and TP automatically placed at the same time. I am including a pic of the
Depth of Market from MT5. After the order is placed you can drag the SL and TP.

Issue #5: Rushing is not necessary. You have 6 months to complete stage #1
Wait to trade the trades you are looking for and not outside of your game plan.

Comparison of 5%ers to FTMO:
FTMO requires you to pass 2 demo stages to get to a "live" account
5%er if you compare the first 2 low account stages, they are similar, but you end up with a
smaller account. Also, you only have to get 6% to start making cash.
FTMO gives you +25% every 4 months and 10% gain
5%er gives you 2x every 10% gain up to $4M (technically you can have up to $12M with 3 accounts)
Depending on how you trade there are other consideration.

[Yirbu]

One solution would be to start a 6 hour timer, as soon as you enter a trade, to ensure that you are in a new situation before placing your next trade.



You can have 10,000 losing trades, it doesn't matter, what matters is losses

If allocate $200 to GBPUSD and after 10,000 losing trades you have $50 then you still haven't "lost" anything, you're just down.

I believe the only thing that can make it better for me is to gain more experience because when I got chopped up I was perfectly fine when the day started. When the market started ranging I wasn't able to adapt fast enough (and kept trying). I will have to learn to recognize the market phase faster and accept it. (or adapt).
And I am getting there...it's just not as fast as I thought when I started.
At the end of the day or week...my account needs to have more $, or € or whatever. I'll even accept ₿

post37011?sid=a6b0194cc9c38d2983dfa238251648dc#p37011

That post and the next from es/pips

That post sums it up pretty good.

[Yirbu]

EU M5 London
3 to 4 pips SL
About 18 pips gain on first push down
Done for the day, based on previous post.

I took the exact same trade. Just my SL was above the high.
That was about 2x as your SL.
I have thought about just using the other end of the entry/momo candle as a SL and will look into that further.

[Yirbu]

I finished DaveTeaches Master Class.
I liked it but had enough of his dancing.
I went over to watch ProCharge's other buddy NAS.

What he shows is interesting, NAS is not.
However, he doesn't seem to use everything he learned from Dave.
NAS leans heavily on S/D areas.
He even goes as far as saying to treat imbalances as S/D.

If you watch NAS and or Dave enough, you can get valuable lessons on chart analysis.
I have seen people say on my goodness his/their videos are so long.
Other than the goofing around there is a lot of value seeing the analysis happen in motion vs. static charts

Anyway, I applied some of the S/D action to this EU chart, in honor of my last Idea post.
Conveniently also in line with the 20 sma.
It appears in about 1 hour of trading the M1 had enough opportunity to make 40 pips or more.
EU does give enough to hit the 50 pips per week goal.

I've also watched Dave's masterclass vids and am now watching the swingpoint vid. In between I have watched bits and pieces of NAS vids.
I must say that I have learned quite some things and tried to incorporate some in my trading. (not so easy but doable)
Also I do like the NAS 1on1 session vid ProCharge posted, it's extremely simple and to the point. Not a 6 hour hide and seek video.

What I do noticed is that Dave seems to have shifted a bit because he started out using the S/D zones at the start of an impuls leg he now uses the 50% retracement level into the retracement preceding the impuls leg as his entry zone.
I do like to use the S/D zones because sometimes they line up with the deadhorse.
Looks like I haven't interpreted them the way you show (candle by candle) in this pic so this is another new perspective for me.

These S?D entries together with a smaller SL (at the top of the candle if possible) should give me enough to chew on for the next week.
(I know the exact placement of the upper S/D zone is debatable but this is the idea)

[aliassmith]

Traded US30 M1
I felt out of time with the market.
I managed to get 50 pts so far

[aliassmith]

Traded US30 M1
I felt out of time with the market.
I managed to get 50 pts so far

Took another 19 pts. I was slow on the phone and it could have been over 30 pts.

The red line in the pic is S/D, trade short