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

[Bobiz]

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!

View attachment 219312

Thanks. It's downloading in view only,and unable to change the starting amount in D2.

 

[VincentvanG]

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.

$2,000 to $200,000 in a year means you need to double your account every 7 weeks.

So far you have failed.

 

[darthtraderbeta]

"I have a realistic 2% goal"

lol this site has just always been comedy gold.

 

[sstheo]

$2,000 to $200,000 in a year means you need to double your account every 7 weeks.

So far you have failed.

Why do you think I have failed? It has been 4 weeks today, and I should be at $3,400 by the end of the day. Once I get to $4,000 then I will have doubled the account. I should be at $4,000 by week 5.

 

[sstheo]

Thanks. It's downloading in view only,and unable to change the starting amount in D2.

I sent it in a private message, but you should still be able to edit it once you do File>Save As.

 

[Phil-n-Texas]

It has been a while since I posted it, so here is the updated table and chart:

View attachment 219241

very nice!

btw, in case you forget what day of the week it is, you could populate your "B" column with auto text script =TEXT(C3,"ddd") and it will automatically fill the cell with date to day of week conversion from column C.

i was working on some nested "if" statements at one point and decided i was spending too much time messing with it and never finished. the idea was to just have cells populated "if" something else was.

 

[sstheo]

very nice!

btw, in case you forget what day of the week it is, you could populate your "B" column with auto text script =TEXT(C3,"ddd") and it will automatically fill the cell with date to day of week conversion from column C.

i was working on some nested "if" statements at one point and decided i was spending too much time messing with it and never finished. the idea was to just have cells populated "if" something else was.

Thanks. Worked great.

 

[sstheo]

"I have a realistic 2% goal"

lol this site has just always been comedy gold.

We aim to please. Want some pizza and Coke?

(I only said "realistic" because my daily average for 4 weeks now is 2.8%)

 

[sstheo]

I just had a great conversation with a mentor of mine. Even though he is in his 70's, he still trades every day and loves it. He showed me his charts and I had a flood of great memories. He says trading keeps him sharp. It was so fun catching up. It also reminded me of how much I still follow what I learned from him. Some of these things I learned I have even talked about in this journal already:

1) Try to keep your charts uncluttered, and use as few charts as possible. The less your brain has to process, the faster (and better?) your decisions.
2) Most traders choke in range conditions, always looking for a breakout. Instead, take several small trades toward the mid line of the range until there is a true breakout.
3) Trade only the first two hours of the US session where the high volume gives some momentum.
4) Once you reach your goal for the day, stop. Don't risk giving back what you have earned. Come back the next day refreshed.
5) Watch the support and resistance levels, and anticipate a pause or reversal when reached.
6) The head and shoulders pattern is a fairly reliable signal, even on small time frames.
7) Scalping is a viable way to trade, despite the commissions, as long as you have an edge.
8) Always have an emergency stop in place.
9) Trading, done well, can be profitable and fun.

I am sure there were many more...

Trade well everyone!

 

[Sekiyo]

1) Try to keep your charts uncluttered, and use as few charts as possible. The less your brain has to process, the faster (and better?) your decisions.

Agree.
The Pareto principle - Less is more.
The majority of results come from a minority of inputs.

2) Most traders choke in range conditions, always looking for a breakout. Instead, take several small trades toward the mid line of the range until there is a true breakout.

Disagree.
What if you buy at the middle and it break lower ?
If you don’t know then don’t trade.

While neutral it’s better to trade from extremes towards the middle. Reverse or Get out at pull back.

3) Trade only the first two hours of the US session where the high volume gives some momentum.

Agree. Same as #1.
Volatility is the bread and butter of day traders.

4) Once you reach your goal for the day, stop. Don't risk giving back what you have earned. Come back the next day refreshed.

Half Disagree
We trade probabilities.
Each trade has its own probability.
You just don’t know when a loss will occurs.
A loss is fine. A negative expectancy is stupid.
Half Agree
We’re all too human and we ain’t our system.
There are factors such as fatigue that can work against us.

5) Watch the support and resistance levels, and anticipate a pause or reversal when reached.

Maybe.
I myself don’t take time into account.
Only levels and the back and forth of the market.
IMHO prices are more robust than time as prediction.

6) The head and shoulders pattern is a fairly reliable signal, even on small time frames.

Maybe.

7) Scalping is a viable way to trade, despite the commissions, as long as you have an edge.

Agree.
But what does scalping even means ?
What’s the scope ? Where are the limits ?
What matters is profitability and risk management.

8) Always have an emergency stop in place.

Agree.
Sh*t can happens.
Electrical breakdown ...
Price going wild opposite direction.
Anything that works towards survival must be done.

9) Trading, done well, can be profitable and fun.

Trading done well is of great value outside the trade itself.