90 Days Trading Challenge

[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.

[prestburydreams]

I have only just seen this and thought ffs this will get torn to shreds there are loads of videos telling u not to set targets when trading

I take it was started as a bit of fun but there serious traders in here and fun is not part of the equation

[Kai]

I do think though that being accused of doctoring your P&L's is a bit harsh.

That's just because people thought it was strange the name was hidden, so it's understandable. That's something OP could have mentioned beforehand to be fair. Fair play to him though, had his honor insulted and still responded politely enough I PMed him to clear up a few details and he was positive about that as well.

I automatically assume all P&Ls are legit anyway, glass half full kind of guy I guess But I may poke some fun at the motives behind them, or openly question them if I don't like the context at all, not that I really care but mostly for fun

I also completely forget that scammers exist, until someone on the forum reminds me, cynicism is one Brit trait I wouldn't like to pick up Or maybe I already did if I thought that getting 30% return for the first 3 days was a bit too consistent for an apparent newbie challenger

[gazuty]

I do think though that being accused of doctoring your P&L's is a bit harsh. .... 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.

If you look back up I did post a reply including a confession to the very same sins, together with offering encouragement (so I hope I am not included in that rebuke).

My point on the screen shot was more that it wasn't needed as part of his daily offering (but who am I to decide what is in and out, not my thread or challenge) and because the name had been manipulated it raises the prospect of other manipulation (I didn't say it was manipulated, but I acknowledge that I certainly raised the prospect).

My main issue (and I guess this happens quite a lot) is in my early post to the OP on scaling up, the OP dismisses the feedback (essentially out of hand). Others provide similar feedback on scaling but the OP pushes back. Now, how is the OP to know anything about me, whether I have any clue or not (and I guess the same for all the other feedback). That is why in the end I encouraged the OP to continue on his own journey of self discovery, that is what most of us had to do. And the OP had a lot of courage putting themself out their and posting daily results. (I don't approve of the OP encouraging others to follow the challenge and to just start over after each bank is blown - but then again, just my own opinion).

In the end I am sorry to everyone that my post killed it all off at day 3.

[Kai]

In the end I am sorry to everyone that my post killed it all off at day 3.

No worries gaz, if anything it was a team effort I'm sure he'll be back when he sobers up!

[goat68]

In the end I am sorry to everyone that my post killed it all off at day 3.

No worries gaz, if anything it was a team effort I'm sure he'll be back when he sobers up!

Now you will never know if he makes his £1M in 90 days......he'll be laughing all the way to the $$$$

[Trader Pat]

I do think though that being accused of doctoring your P&L's is a bit harsh. .... 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.

If you look back up I did post a reply including a confession to the very same sins, together with offering encouragement (so I hope I am not included in that rebuke).

Hardly an apology or even an acknowledgment that you were in the wrong though? Especially considering you drew attention to it in the first place.

Bottom line though is its really none of my business, the comment wasn't aimed at me and I'm not the forum police. I just think it's worth noting that some people are more sensitive to these kinds of things than others.

My main issue (and I guess this happens quite a lot) is in my early post to the OP on scaling up, the OP dismisses the feedback (essentially out of hand). Others provide similar feedback on scaling but the OP pushes back. Now, how is the OP to know anything about me, whether I have any clue or not (and I guess the same for all the other feedback). That is why in the end I encouraged the OP to continue on his own journey of self discovery, that is what most of us had to do. And the OP had a lot of courage putting themself out their and posting daily results. (I don't approve of the OP encouraging others to follow the challenge and to just start over after each bank is blown - but then again, just my own opinion).

I agree with everything you say there.

Sometimes when people ask a question or are looking for advice they don't want the advice when it's given. Especially if it implies that they may have to work harder than they thought!

[The Silk Run]

In the end I am sorry to everyone that my post killed it all off at day 3.

No worries gaz, if anything it was a team effort I'm sure he'll be back when he sobers up!

I wasn't looking for a reaction, just briefly highlighting the negativity in the discussion thread. But, If you dig a hole and it's in the wrong place, digging it deeper isn't going to help

Happy New Year
Minnie LAI