[mike21]

Originally Posted by Attila »

Thought I'd post this for fellow dreamers.. Key question is how many units considering current volatility you should use and whether to keep the risk constant or decrease it as you progress. To me no reason other than psychological and instrument liquidity to curve down the risk over time. In this case he has.

Did you pay attention to his risk/reward? Risk $300 reward $180. -or- risk $300 reward $120.

If you follow this plan you won't have to worry about moving on to 'Phase 2' because you'll go broke in 'Phase 1.'

.

[daedalus]

Originally Posted by mike21 »

Did you pay attention to his risk/reward? Risk $300 reward $180. -or- risk $300 reward $120.

If you follow this plan you won't have to worry about moving on to 'Phase 2' because you'll go broke in 'Phase 1.'

.

I believe his reward is 120.00/contract, which means his risk on 3 contracts is 300.00 and his reward is 360.00.

Not great, but not 1:3 as you stated.

[Moyyim]

Originally Posted by daedalus »

I believe his reward is 120.00/contract, which means his risk on 3 contracts is 300.00 and his reward is 360.00.

Not great, but not 1:3 as you stated.

Per Trade the risk is $300 (3 ctrcts x $100 each)

The anticipated reward is:
a) $180 (3 points @ $60 per point ie 3 points on 3 ctrcts)
or
b) $120 (2 points @ $60 per point ie 2 points on 3 ctrcts)

To get the $360 he states.. do(achieve)... a) "twice in one session"... or b) "three times in one session"

[fxThunder]

Hi Everyone,

I have decided to withdraw from The Race, with my current time limitations I need to focus on trading my main account and sadly had to make a choice of where to focus my efforts.

I wish the remaining racers well and will certainly keep an eye on this thread, when time allows.

Cheers,
fxT

[thalestrader]

The Race - Week 7 Summary


... and then there were three ...

Here is the current active field as I have it as of today, 6/13/2010, with Attila holding a slight edge over fxCowboy. But all three remaining have battled back from significant peak to trough draw downs, and I for one am enjoying the nightly horse race when I check in at the end of the day.




Best Wishes,

Thales

[Attila]

Small account traders really have to focus on the risk side of things which doesn't preclude nice gains.. i.e. develop a system that generate little to no heat entries. You simply must enter trades as close to defense lines as possible. I have been using a 3.5 stop and I find it is less relevant than where I trade. This is the problem I see with the document which could have been one paragraph and a spreadsheet table. It doesn't focus on what criteria will allow the dream to work.. i.e. the trading system.

In a was the training gained with a small account is the best there is. The flames of blowout are so nearby, trying to get you.. Need to achieve escape velocity, which for NQ I see as 5k.

Currencies I simply have no clue as far as day-trading.. the 12.5 tick move seems so dangerous for an under 5k account.. I've seen 25 pips in 5 minutes.. Risk=Reward I suppose.

[thalestrader]

Originally Posted by sicktrader »

... Things turned around though, as I won, my next trade yesterday, and two this morning that will be on the next statement. Now sitting at $1,650.25. Ready to get this out of first gear. Good Luck to all this next week.

Hi Sicko,

We need you to post your latest statements here in the thread.

Best Wishes,

Thales

[sicktrader]

Will do in the am when I get to the office. Will be using a different computer later in the week when on vacation, so I may be late on some statements. Will try to make a few more live calls.