$200,000 Forex Funded Account Challenge - Evaluation Phase 2

[immy]

Entry into US30 

[immy]

Entry into US30 

 

[immy]

The Batch ended with a near-perfect Discipline score but that is my definition of it. If I am being stricter it could be brought down to 70%. I took some FOMC trades, and I traded H4 but all were part of the plan. 

I had a win rate of 15%, 
BE Trades were 35%
and 
Loss Trades were unusually 50%. 

The 15% winners took care of the losses. 1:5 is MAGIC. 

ps: I reported a 10R winner on EUR/US short but turns out it was taken on a different account. Here we have a 3R winner. (apologies to myself and you perhaps) 

The average Rating for Trades TAken is 6.6 which is above par. I want at least 6 as my average rating. 

This Batch was a Breakeven Batch because of the 17th of Friday losses. I gave it all back. So batch ended with
0.14% loss. 


 
 
 
 

[immy]

I brought some changes and updated my trade plan for Batch 4. Visit first post. 

[immy]

USDJPY 

A pretty good trade after all. 

The idea of getting a 10R was enticing but overnight anything can happen. I don't want to let go of 5R. 

Now i am up by 1.4K so I can use that for the NEXT 5R or 10R winner. That was the rationale. I have had 6.4R winner here. 

I am happy with that because according to stats, you can't go wrong with 1:5 or more winners since you only need 20% win rate to be Breakeven with 33% win rate you will do a lot more. This method works. 

Well managed, entry was good, the risk level was ok, (could have done 1% but was down on the account)
6.2R Result. 

DS1 

 
 

[Minsk]

USDJPY 

A pretty good trade after all. 

The idea of getting a 10R was enticing but overnight anything can happen. I don't want to let go of 5R. 

Now i am up by 1.4K so I can use that for the NEXT 5R or 10R winner. That was the rationale. I have had 6.4R winner here. 

I am happy with that because according to stats, you can't go wrong with 1:5 or more winners since you only need 20% win rate to be Breakeven with 33% win rate you will do a lot more. This method works. 

Well managed, entry was good, the risk level was ok, (could have done 1% but was down on the account)
6.2R Result. 

DS1 

 
 

 

That was a beautiful trade and that's lot of R's. 
 

[immy]

I want to ONLY Look for Question 1: 

Is there a Banana Signal 

Only then will I start using my brain faculties of assessing whether the signal is valid or not. 

The alternative way is to be thinking of the market all day long, whether there is a TR or Trend and whether there is an impulse forming or not. 

I have learned/observed that it keeps my brain churning this information all day long. I don't want that. 

I want to think of CHARTS, only when I'm watching it. When I'm off, the 55 minutes, I want to NOT think charts. 

 
 

[immy]

This is from GBP/JPY H1/M5 on the 24 June 2022

[immy]

I have added back US30 and NAS100 (US100 NDX QQQ)

I think it's a great way to take advantage of the US market. 

[immy]

I have added back US30 and NAS100 (US100 NDX QQQ)

I think it's a great way to take advantage of the US market. 

 

How did I miss this trade? A Nice cool 5% Trade was there. 

I was not able to benefit from this trade this Friday the 24th of June 2022. I can see clearly that price consolidated the day before and prior to that, there is some evidence of bullish price action. 

Technically it cannot be classed as a missed trade because of the following reason.
1. I was not watching this pair for trades (market)
2. I did not have this market in my trade plan. 

I had assumed that all the indices move in a highly correlated fashion. However, I am proven wrong here. The US indices can move slightly differently at times from other indices. 

The mistake is not missing the trade, the mistake is taking the market out of my trade plan. I have corrected this mistake. I will be looking at 6 markets. EU GU UJ DAX NASDAQ (US100) and DOW (US30)