$2,000 to $200,000 in 2020 at 2.00% per day.

Ended up good today with $84 net. 16 trades total = $5.25 average per trade = 10 ticks average.

upload_2020-2-12_20-52-39.png


Again, I am trying to grow this slowly, consistently. I want to put on 2 or 3 E-minis and double my account in just a few days, but my rules forbid it. At $3,000, the rules now say "6 micros max!"

All I can say is "GOOD." Because I probably would not be here right now if not for the sizing rule. It happens often that at the very time I want to "load up" because I just "know" what is going to happen next, that Mr. Market has another lesson to teach me. So the self-imposed sizing discipline is vital. It is a hedge around my account balance.

I liked what the SMB manager said in a recent video. "It is unethical" to violate the rules when trading other people's money." Likewise, I must treat this account as a stewardship, and not my own to do whatever I feel like doing at the moment, flagrantly violating whatever rule is "in the way" of my superior market judgement (LOL). This account exists SO THAT it may blossom into something big.
 
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Some of you know that I have been trying to pass a LeeLoo Funded Trader evaluation for several months now.

I want this live account to make $2000 to $5000 per month. But first I have to pass the evaluation!

It the biggest of ironies, with my AMP micro account (the one profiled in this journal), I am running circles around my performance on my LeeLoo eval.

Why is the funded trader evaluation so much harder?

1) Deadline. With each evaluation there is a deadline. It's not a true deadline because you can extend, but who wants to pay more money? Therefore, there is pressure to reach the targets in 20 trading days.

2) Unrealistic ROI. Yes, a trader can extend another 30 days, but most do not. Using the 15 contract account as an example, the ROI required to pass in 20 trading days is an average of 9% per day. How is this determined? Max loss is $5000. Therefore this is the true size of the account, no matter what idiotic account size number they toss out. A trader must earn $9000. $9000 in 20 days is $450 per day average. $450/day starting from $5000 is 9% per day.

3) Over-leveraged. Obviously nobody makes a trader put on too many positions, but there is a strong temptation to do this to reach the goal. And adding in the extra positions at just the wrong time repeatedly can be deadly.

4) Pretend Money. I am more likely to make mistakes with evaluation of risk and stop placement because the money is not real, and a failure is easily remedied with a reset fee.

There may be other reasons, but I think those four are the biggest.

In contrast, with my live micro account,
  • I have no deadline
  • I have a realistic 2% goal
  • I feel comfortable with the number of contracts
  • I keenly feel every loss because it is my money.
Growing my AMP account is 10x more satisfying, and I get to keep every penny! With the funded accounts you get to share 20% with the company.

Obviously I am trying to learn from myself and employ the same excellent discipline I am using to succeed on my live micro account.

Think about it. Once (if) I reach $5000 on my live account, my purchasing power will be exactly the same as the evaluation max loss. And my rules will then permit me to trade ONE E-mini (or 10 micros). Compare that to 10 or 15 full E-minis.

So conservatively, I think all the evaluation companies set people up for failure. Unless you truly feel you have an edge, then I suggest you stay away from them. All of them. Instead, take your $1000 or $2000 and do what I am trying to do. Grow your own live account slowly, safely, with less stress, and keep more of the money.
 
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sstheo said:
Explain a bit more please? The max risk is $5000 on the funded eval.
More...

9% daily you said.
It’s 1.09 then you got 1 to make .09
If you risk 1% per tick is 100 ticks vs 9 ticks.
But of course you’re out if you hit your daily loss.

At Tst it’s 3000 max loss and 900 profit targets.
30% per day if you wish...

You’re billed monthly ?

combine 1 is 5 days min target 9K
Combine 2 is 10 days min target 9K
But I am billed monthly so I have 20 days.

(9000+9000)/20=900 with 3K daily max loss

By the way the theoretical odds of 1 vs 0.09
-> 91.74% likely to win.

But you got an edge so it’s higher.

If we ran 100 accounts with 1 trade per day,
Risk 100% TP 9% for 20 days,
17.84 of them would pass it

^^
 
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Bobiz said:
Sstheo,
How can one get this your spreadsheet template?
More...

Just for you and anyone else who wants it:

https://1drv.ms/x/s!Ahmr2weqMXmsgtZkwkc6FVbYwrg7iw?e=QsYRts

You will have to download it in order to edit it.

Just put in the starting amount in D2 and put the daily net gain in column G.

You will also need to copy certain cells into new rows as you go. I did this to have the profit line on the graph look normal.

If you start with something other than $1000, then you may need to adjust the Y axis on the chart.

Have fun!

upload_2020-2-13_17-32-29.png
 
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