Challenge of Trading crudeM with 4k for 30 trading days!!

Hi

Don't be in a rush to start trading . . .

Before you take your first trade (in this 30 days challenge) be very clear about your rules . . . SL / if you are using any targets etc. .

Maybe forward test it for a week or two . . .

When we trade with a smallish capital, we feel we should be able to trade freely and pull the trigger as only small amounts are involved . . .

But even with small amount there are other discipline issues that will crop up . . .

When choosing a system/method first evaluate yourself . . .

What kind of a person you are . . .
will it be easy for you to follow a mechanical system like a robot and just focus on executing or
you prefer to use something that needs interpretation . . .

At end of the day, do not evaluate the success by the amount (%) of money but evaluate this experiment purely by
defining clear cut metrics based on deviation from your trading rules / discipline / trade management / hesitation / MM, correct sizing / risk / adds etc, etc

All the Best

Happy

If you know my style of risk management which is risking 0.25/0.5 % per trade, then with 4k capital I can't even calculate sl. :lol:
So 100+20 rs sl is fixed per trade. Based on that it is 3% risk per trade which is against the established rules of risk management.

So for this challenge I have to "unlearn" my previous risk mgmt rule.

fixed SL is not the right way to go I think, but I could be wrong.

I have written and re written the rules so many times. Adding further concepts in it whenever discussed in the forum.

So yes, I should now stop looking further in other threads from where I take "inspiration" and focus on not making any further change in the trading plan, even if all others are making millions.

Also to identify the deviation from rules/discipline etc, 1st I must have ONE FINAL COPY of the rules just like the template/code snippets.

The biggest challenge is that I should not update/modify the rules within this period.

there are many instances where i get 8 tick sl, so at that time the risk will be 80+brok. Only if sl is 6 or less i can go for 2 lots.

As such in 1tf any sl above 10 tick is too high in my opinion.

I may be wrong, but I feel if a person cannot hold his emotions for few hours being in trade, he is not fit to trade swing as he wont be able to sleep peacefully at night.

Yes, its so easy to backtest with bar replay where easily i held my faith on the method even though there was 7 consecutive sl hits !!!

Hoping to achieve that discipline in reality. :rofl:

First I am preparing the back end infrastructure.

i.e this time i have to put correct book keeping and statistical analysis of the performance.

So apart from pnl, one more thing which has to be focused is the duration of the loosing trade vs duration of winning trades.

More than trading this record keeping will consume more time.

Silly Question-
Why starting with this weirdo number 4377.50rs?
Why not starting with BRN or BBRN i.e, 4500rs or 5000rs

This might his lucky number

Is your current account value in Round Number?