Sunday, August 30, 2015
Ready to reach our main target at US$ 100,000 in probably 7 months (we've started the challenge in February), we just reached US$ 89,000 this week in our best week of the year so far, with that crazy volatility we were able to bag almost 40 points on ES, reaching the 6th Stage of our challenge, now we are just 11 points away from our main target at US$ 100k as we start trading 20 lots on Monday, giving us the chance of making (or losing, risk management is key) US$ 1,000 per point (20 lots X US$ 50.00), so it's possible that we reach that goal this coming week.
As soon as we do, we will start it all over again with a US$ 10,000 account, trading 2 lots aiming US$ 100,000 as the main target, so, if you were not able to join us in this challenge, try the next one, I'll warn about the day we intend to start one week in advance.
All trades that we take are posted in our trading room at our website in real time, the Diamond Setups.
Wish you a great trading week! Tomorrow's the last day of August, time flies!
Best of luck!
Posted by @RenaTrader at 6:38 PM
Sunday, August 9, 2015
Finally done with Stage 5, I have reached half way on the Challenge account taking it from US$ 10,000 to US$ 50k in just 7 months, this last stage has been the longest, it has taken me 9 weeks to go from US$ 30k to 50k trading 10 lots on ES (S&P500 e-minis).
Now, we'll start the 6th Stage and our next target is at US$ 75,000 trading 15 lots, that's US$ 750.00/point, so, I will have to make at least 35 points on full size to reach that level, the time I expect it to be reached is from 2 to max 3 months.
If things go wrong and I lose 20 points or more then I'd go back to Stage 5, now, if everything goes as expected then our next target is Stage 7, the last one to reach our final milestone at US$ 100k, let's see if we can make it until the end of this year, I'd like to have it done by Thanksgiving though, we'll see, seeing is believing.
"A goal is a dream with a deadline." - Napoleon Hill
Posted by @RenaTrader at 10:24 PM
Sunday, July 19, 2015
I really feel like trading now after having recharged batteries, this business really drains lots of energy from us traders, as day traders we have to be concentrated, 100% focused throughout the day, for up to eight hours daily from 8 AM until 4 PM EST, not easy!
That's the reason why in order to be a trader you really have to love this thing, passion for the work itself is a MUST in our industry, I really love it.
Back to business, as usual...
For those who are following us on the trading challenge from US$ 10k to 100K that we started on February the 2nd, we are now at: US$ 39,929.92 this is the 5th Stage of the challenge, soon heading to the 6th as we reach US$ 50,000, half way from our final target at US$ 100,000.
One of the most important thing to be successful in trading is to have a clear, positive state of mind, to control our emotions, making sure they don't get in the way as it is very common to see most traders doing, acting on emotions rather the concentrating on the process, emotions are, without any doubt, the number 1 account killer of any trader.
Once we have learned to identify the "key trading levels", our job is to wait until they show up and once we see a pattern that meets our criteria we confidently pull the trigger and let the trade run and according to our plan, a strategy to take profits as the market make them available or leave at a small loss and quickly get ready for the next possible trade setup, that's all we have to do, day in, day out, watch the market until a setup shows up and when it does we pull the trigger without hesitation...
We DO NOT KNOW whether the trade will work or not, we just take ALL setups that meet our criteria and only leave if stopped out or at our target, period.
Once you have a proven edge, one that has a good win ratio, take ALL trades and profits will take care of themselves automatically. Always use physical STOPs and follow the rules, rules profit.
If you don't have an edge, then you have at least 2 options:
1 - Create your own system and back test it to make sure it works. (Have in mind creating a system will take years of work)
2 - Buy a system that works. One of them is ours: the Diamond Setups.
With a win ratio of over 70% of the trades, it's definitely a good bet.
Looking forward for the best semester ever!
Posted by @RenaTrader at 7:57 PM
Thursday, May 28, 2015
Sunday, May 17, 2015
In just 3 and a half months I've taken a US$ 10,000 account to US$ 30,000 - next target: US$ 50,000.00, now trading 10 ES lots now (S&P500 e-minis).
- Have I made any 20 points trade? - No!
- Have I made any 10 points trade? - No!
My best trade was a +5 points on this run since the beginning, the great majority of my trades were +2 and +3 points only.
Our system yields a 70%+ winning ratio, all I have to do is to take all setups that fit my own trading style, when wrong, out, if right I'll try +2 or +3 points and wait for the next setup, that's all I do, day in, day out.
Have a great trading week everyone!
Posted by @RenaTrader at 8:00 PM
Monday, April 20, 2015
Hi again folks!
We've finally achieved the target on Stage 3 at US$ 20,000, now we're moving on to the next target at US$ 30,000.
The deadline was on May, the 20th but we made it in a little more than a month, 32 calendar days, to be exact...
Stage 4 begins at US$ 20,426.90 and the deadline will be in 3 months, we will trade 6 lots.
As usual, I expect to reach that target way before the deadline, we're very confident our system will continue to work as it has done in the last 5 years or so...
One of the main secrets to success is, besides having a system that works, that is, an edge, it's to have a "free state of mind", you don't HAVE TO do anything, you will just trade whatever setup you see, *IF* it works you take profits, if you get stopped out, then you'll wait for the next setup and when it shows up, you will take it without hesitation.
In case you haven't read the post on the beginning of the Challenge, click on the link below:
Challenge: From US$ 10k to US$ 100k
Best of luck!
"Either I'll find a way or I'll make one." - Philip Sidney
Posted by @RenaTrader at 7:53 PM
Saturday, March 21, 2015
After 27 trading days we completed Stage 2, moving on to Stage 3 now with the objective of US$ 20,000, increasing trading size to 4 lots now.
The more we achieve, the better we feel, feeling good means easier trades, letting it run to targets or getting stopped out does not affect psychological capital, putting me totally in the "zone".
The Stage 2 target means US$ 15,000, that is a 50% profit from the initial capital of US$ 10,000, if I was able to take this account to US$ 15,000 in a little more than just a month, no doubt I can take it to US$ 100,000 in the future ahead.
I'll keep you updated on the progress.
Best of luck.
Learn s simple system that works day in, day out. Click here ==> Diamond Setups.
Posted by @RenaTrader at 7:14 PM