90 Days Trading Challenge

[Kai]

Thanks and appreciate all the questions you asked. I can answer but we don't have any common ground to get agreement on, so we will just end up with back and forth comments. It won't help both of us so no point of discussing I guess? So lets rest this conversation here. Thanks again

Fair enough.

I understand that the overall feedback is not as positive as you might have expected, but instead of feeling too disheartened about it I suggest to ponder over why that is exactly, it can't be a coincidence that very few people liked the idea.

When it comes to trading, things you don't understand at all, whether big or small, are usually exactly the things you need to learn the most.

Btw, what Mr Fox said above is very true, regarding various salesmen and target challenges they like to use to build credibility and so on, I'm afraid it's often guilty until proven innocent. But the motives are mostly irrelevant and the forum is no stranger to decent trading discussion, as you can see from numerous past threads.

[Derek27]

Yes I am aware that £50 * (1.1 ^ 90) = £265,651.13 and its huge money (Power of Compounding). I did say that results are beyond imagination and hopefully some of us will be able to achieve.

Sorry, can't see another context even after looking at the previous posts. Unless by "hopefully some" you meant 'what none".

[goat68]

Today's: -£0.27 (-0.14%)
Strike rate: 52%
Better..

[smarttraderr]

Thanks and appreciate all the questions you asked. I can answer but we don't have any common ground to get agreement on, so we will just end up with back and forth comments. It won't help both of us so no point of discussing I guess? So lets rest this conversation here. Thanks again

Fair enough.

I understand that the overall feedback is not as positive as you might have expected, but instead of feeling too disheartened about it I suggest to ponder over why that is exactly, it can't be a coincidence that very few people liked the idea.

When it comes to trading, things you don't understand at all, whether big or small, are usually exactly the things you need to learn the most.

Btw, what Mr Fox said above is very true, regarding various salesmen and target challenges they like to use to build credibility and so on, I'm afraid it's often guilty until proven innocent. But the motives are mostly irrelevant and the forum is no stranger to decent trading discussion, as you can see from numerous past threads.

I understand that some may like and some may not like the idea and I am absolutely fine with that. No one got any obligation to like my idea. But some random Joe Blogg without knowledge come and start throwing their judgement and call you fraud is bit too much to take. His Tiny Brain couldn't understand how someone can remove name from P&L report

I understand what Mr Fox and respect what he said but my plain reason was to have some fun collectively. I did mention that this summer we had walking challenge and it was really fun as people who ever not even slightly interested in walking were doing a lot better.

I understand that someone may have used Challenge route to lurk some people into selling something else but that doesn't mean that if someone say challenge means he is selling something

Anyway I understand your POV and respect it ..

[smarttraderr]

Saying that you already run a business kinda goes against your argument there, that you're not looking to commercialize your trading or having it as a potential option I'm just saying, maybe it would be if your username was dave55 and you had Bart Simpson as avatar, but that's beside the point

OK I'll bite, so what's the goal here with the challenge? And what's your market and trading style?

Looking for an edge?

Just confirming an existing one?

Trying to scale a smaller edge?

Struggling with consistency and discipline?

Want to impress with the classic underpromise and overdeliver scheme?

Need some sort of validation and support?

There's been 18 pages and I don't really know anything. All I heard was some agile/waterfall methodology book talk and saying you want to learn and improve, but no idea what exactly you're trying to learn and where you want to improve. Because as you know by now, the devil usually tends to be in these details

I got IT and ecomm Businesses. I have worked with someone very closely setting up Gambling Business (10 years back) and I know how many rules and regulation are involved, took him more than 4-5 years and wasted more than £10m before giving up so I am sure I am not going anywhere there (unless I have extra 10m and want to have some fun)

If I am signing up on Trading platform why would I use Simpson avatar.. I take myself seriously .. even in username

Goal of the Challenge - have some fun, build collective knowledge, share knowledge, let others know what they are doing wrong and right.. get motivation from Trading Buddy. Discipline, consistency come by product when you are in challenging environment.

Also my knowledge is very limited in Horse Racing and other sports but I am good at numbers, stats, analysing patterns and lots of other things which technology can offer which can give edge. I got simulators and working on something really cool so looking for some horse racing experts to feed me with additional knowledge.

Anyway once again long post but on your request replying back else don't wanted to stretch this thread any long

[gazuty]

Dear smarttraderr

I have committed all of the sins that I disapprove of above - including launching competitions, posting screenshots etc.

I am sure I am not telling you anything you don't already know but in order to achieve anything you will need to get past a lot of nay sayers. The most important nay sayer is the one inside your own head.

I say profiting 10% of your bank for 90 days in a row is not possible, but that is just my opinion. I am sure if you keep going you will learn plenty aned if you suceed you will have immense satisfaction.

https://www.youtube.com/watch?v=CZ1DEav2Kjc

[CallumPerry]

So... no screenshot of today's results or have I missed it in the last 3 pages since this morning?

[jimibt]

tbh - too many pages to keep up with if casually following. if i may make a small suggestion, could you post a succinct set of objectives in terms of how you propose to meet this challenge. I've seen the 2 or 3 P&L's (spread across a couple of disparate markets) but still as yet have no clue as to what/how you are targetting within your plan, nor how it can be measured here.

I know you're getting a lot of bashing (from reading the last few pages) but transparency on how you are aiming at this will dispel a lot of friction if you're willing to set out your agenda.

keep it simple, explain why/what you're aiming at (even if vague bullet points, so as to protect your edge) and i'm (kinda) certain the crowd will *get it*. as it is, it does feel a bit like rambly voodoo with no direction or rationale. in short, a 1st time reader will give up and your journey will be judged only by your absence 4-6 weeks down the line from now.

[Alexander_99]

So is the 90 day challenge still going? Just read this and had a thought to do something similar - but on football only.

[Derek27]

So is the 90 day challenge still going? Just read this and had a thought to do something similar - but on football only.

The thread went off the rails after negative responses and questions about the authenticity of the PLs, so I think the OP's stopped updating.

Two days into the new year and I'm on course to make £40 million if I can compound my profits for the rest of the year.

I'm still struggling to understand why compounding is such a hot topic. I learnt about it in primary school after watching a cartoon of the Elves and the Shoemaker. He didn't have any food to feed his family and only had enough money to buy leather to make a pair of shoes. The following day a customer bought the shoes for 3 silver coins so he could feed his family and purchase the leather to make 2 pairs of shoes.

Most people compound their profits as far as practical without even thinking about it!

[Jukebox]

So is the 90 day challenge still going? Just read this and had a thought to do something similar - but on football only.

The thread went off the rails after negative responses and questions about the authenticity of the PLs, so I think the OP's stopped updating.

Two days into the new year and I'm on course to make £40 million if I can compound my profits for the rest of the year.

I'm still struggling to understand why compounding is such a hot topic. I learnt about it in primary school after watching a cartoon of the Elves and the Shoemaker. He didn't have any food to feed his family and only had enough money to buy leather to make a pair of shoes. The following day a customer bought the shoes for 3 silver coins so he could feed his family and purchase the leather to make 2 pairs of shoes.

Most people compound their profits as far as practical without even thinking about it!

I took from that same tale that it was easy to become rich if you had an unpaid workforce - and don't make them any clothes.

[The Silk Run]

So is the 90 day challenge still going? Just read this and had a thought to do something similar - but on football only.

Smart Trader wasn't given the chance. I think it's extremely difficult to measure success, or fail over three days !!! The criticism was HARSH, hardly inspiring ...

[Derek27]

So is the 90 day challenge still going? Just read this and had a thought to do something similar - but on football only.

Smart Trader wasn't given the chance. I think it's extremely difficult to measure success, or fail over three days !!! The criticism was HARSH, hardly inspiring ...

It was his decision to stop posting his results (I presume he's still doing it), but I think the reason this thread was so contended was that he gave advice many people disagreed with may have given false hope to newbies.

[Kai]

So is the 90 day challenge still going? Just read this and had a thought to do something similar - but on football only.

Smart Trader wasn't given the chance. I think it's extremely difficult to measure success, or fail over three days !!! The criticism was HARSH, hardly inspiring ...

Maybe, but the markets can be much harsher.

We all have our own POV, some narrower and some wider, but when it comes to the core trading foundations and principles it's generally pretty aligned, it's just the little details that set us apart really.

So in other words, usually the harsher the feedback the more misalignment there is and vice versa, so OP would be wise not to ignore that and should delve deeper into it.

[Trader Pat]

The problem any OP will run into is 99% of challenges like this are doomed to fail before they begin so they have to be willing to accept constructive criticism as well as all the pats on the back and encouragement.

I do think though that being accused of doctoring your P&L's is a bit harsh. I'm guilty of thinking the same thing even though I didn't post it in the forum but that was down to my own ignorance and I hold my hands up to that. Its a shame though that most of those who implied the P&L's were faked haven't come out and apologised to the OP for it. Derek has acknowledged the fact but I don't think anyone else has.

I think its hard sometimes to offer advice without it being misconstrued as a personal attack which is kind of understandable as there definitely seems to be more insults flying around the forum as of late. Its also hard to offer advice without coming across as preachy which is something I'm probably guilty of even though I never intend it to come across that way.