90 Days Trading Challenge

[The Silk Run]

End of Day 2 - Report

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Starting Balance - £65.13
Closing Balance - £85.33
Planned Target - 10%
Actual Return - 31%

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Done for the Day !

Day2.png

Good effort )

Concur ....

[Euler]

ha ha why everyone is waiting for me to fail. I already said that failure is imminent and no one is immune from it. its part of the process. no one here can claim that they wont fail.

I don't think people want you to fail, they are just trying to make you have a realistic expectation.

[goat68]

End of Day 2 - Report

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Starting Balance - £65.13
Closing Balance - £85.33
Planned Target - 10%
Actual Return - 31%

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Done for the Day !

Day2.png

Impressive

[smarttraderr]

ha ha why everyone is waiting for me to fail. I already said that failure is imminent and no one is immune from it. its part of the process. no one here can claim that they wont fail.

I don't think people want you to fail, they are just trying to make you have a realistic expectation.

I know Sir but I have been experimenting and I have came up with the figure of 10% for now. I know its impossible to carry on forever as market can't offer endless stream of opportunities and money and I don't think I have that much experience to continue for that long but I know can I do this for week or 2 at least. Then after I will adjust (reduce may be if I am struggling or may continue with same %) and try another 2 weeks and so on continue for 90 days. everyone is focusing on entire 90 days period. I just want to focus on next 10%. The day I struggle to make 10% I will reduce my expectations (hope I am not wrong in thinking that way)

[Derek27]

ha ha why everyone is waiting for me to fail. I already said that failure is imminent and no one is immune from it. its part of the process. no one here can claim that they wont fail.

I don't think people want you to fail, they are just trying to make you have a realistic expectation.

I know Sir...

You only call Peter Sir when you attend his course, unless he gets knighted for services to trading.

[smarttraderr]

I don't think people want you to fail, they are just trying to make you have a realistic expectation.

I know Sir...

You only call Peter Sir when you attend his course, unless he gets knighted for services to trading.

He definitely deserve an honourable title. He is equivalent to Sir Don Bradman/Sachin Tendulkar in Cricket or Roger Federer in Tennis or Warren Buffet in Stock Market, who has achieved something remarkable in their respective field which no one will ever manage to achieve or for many years wont be able to match it.

He is not just an expert in the field but he is also giving back to the community which many fail to do.

[goat68]

Day 2 result:
-£0.85 (-0.4%)

[goat68]

This seems like a 2 horse race: smarttrader vs goat !
I would say smarttrader is currently odds on favourite: 1.02, who's going to lay that price then?

[smarttraderr]

Day 2 result:
-£0.85 (-0.4%)

You doing well to be honest by staying in control. just try to improve it by 0.5% and see the difference it make

Every journey is different and we should not compare

[Derek27]

I tell you little story of this summer.

Cool story bro but if you feel the need to set these % based targets just to stay disciplined and consistent, then those same targets will probably influence your decision-making and thus leave a negative impact on your overall results.

If you think they won't, then surely there is no need to set seemingly easy targets and just trade to the best of your ability to see what you end up with?

Calling it a day soon as you reach your target goes against the very concept of chasing targets and improvement, it makes little sense to me.

Sorry for the long post

No worries, but try not to let it happen again

Welcome back Kai, I thought you did a runner

He was bound to be back when the opportunity for memes presented themselves.

[Kai]

He is equivalent to Sir Don Bradman/Sachin Tendulkar

Good God man, I have no idea who those gentlemen are but I think if you shower Peter with any more compliments his head won't fit through the office door tomorrow and he'll be forced to abandon trading what looks like a cracking Monday!

He was bound to be back when the opportunity for memes presented themselves.

Eh, opportunities are nearly everywhere ever since memes apparently replaced puns as the highest form of humor

[NickH]

Smart, if I may ask, what is your staking plan?

[LeTiss]

Hey everyone, you can do this, you can turn £50 into £250,000 in 90 days.....

Heard this shit loads of times.....it makes inexperienced traders cream themselves

Chasing targets leads to cutting corners. It makes people cross the line between trading and gambling

Don't tell me.....you have a cracking varient of Martingale too

[rik]

when down 10% bet 20% on safe evens shot to keep on track, there always a good bet on the evening football!
smart stuff so far

[wearthefoxhat]

I think that one of the key qualities of a successful trader is to be balanced between optimism and reality, not to assume things based on what we observe in the short term, to be more realistic than everyone else, to be attentive to every detail and not leave anything to chance. I think there are many who think it's easier than it seems and there are many who think it's harder than it seems. Which side do you think you are on?

agree

There is something called AGILE METHODOLOGIES.. where SPRINT is planned. Sprint is short period of 2-3 weeks. In Sprint you try to achieve something based on your knowledge. End of Sprint you have retrospective time where u see what worked and what didnt and based on learning you move further.

People thinking is like Waterfall method where they plan something upfront and aim to get that throughout period which wont work as with time situation and progress things will change.

I have 2 weeks sprint where I see myself whether I can make 10% or not. If that work I will try with 11%. if it doesnt work then I will try with shorter goal.

You see, in trading two or three weeks it is not enough to draw a conclusion that your results are a cause of what you did but in order not to wait in vain I tell you now that you will not make 10% a day.

I think the 10% is more a marker on the trade that's being executed.

Say there were 10 opportunities to trade, if all 10 trades make the 10% then it's 10% on the day. In reality, some will be red and some will be 10%+. (I think the OP mentioned "let it ride" on some of them, can be risky too)

Without knowing the OP's method(s), it sounds as though it's a mix of Pre-off and In-Play.