It's been a while since we started Challenge #10, no doubt that has been the most difficult one so far as it has taken us 6 months to complete it, for the first time since we started the challenges we lost over 20% in the beginning, we started right when a losing streak happened, yes, losing streaks do happen to us every 3 or 4 months, and we went way below water but since January we could start our way back up again and finally met our target last Friday.
Now we're ready to face a brand new challenge, let's see how long it will take us to double the account this time As you probably know, we trade ES (S&P 500 e-minis) only, one single instrument, we take 1 or 2 trades a day for the challenge (DTs + O/N, see description of trading styles below), but more active traders can take more trades as our trading system provides much more opportunities to trade depending on how often you like to pull the trigger.
The Diamond Setups system provides entries in at least 5 different ways:
- SC = scalping
- from 2 to 6 trades a day - depending on volatility, the more volatile and wide market is, the more opportunities to trade we have in this style - minimum target: 3 or 4 points, small wins quickly add up, win ratio: 70%+
- DT = day trading -
only 1 or 2 trades a day, minimum target: 4 points - 70%+ of the trades work in our favor.
- ST = swing trading -
1 or 2 trades a week, this style is for those who don't have time to follow the market along the whole day, levels are posted on Sunday and are usually valid until Thursday, unless I warn traders that they have been changed. If filled then expect a minimum target of 15 to 20 points.
- O/N - overnight trades -
1 to 3 trades a week, great win ratio of 80%, in March and April we never got a single stop out. Trades do not happen every night, but when they do, they work perfectly. Minimum target: 4 points
- KAC - 1 day swing -
1 to 3 trades a week, this setup is posted almost daily around 1:30 PM EST, the trader usually needs to hold the position until the next trading day, minimum target: 5 points
A trader who would dare to take all the possible setups could make big profits consistently, as long as he/she will not skip any trades for fear, for example.
All calls are made BEFORE the levels are tested giving traders plenty of time to enter their orders.
I always like to remind traders in our trading room that we DO NOT need to be perfect, the only mistake we must NEVER make is to take a big loss, small losses will not kill us, they're part of the game, no trader will ever be 100% right all the time, either you accept that or you should not trade.
Join us on this new challenge, click here to go to: Diamond Setups
"We keep moving forward, opening new doors, and doing new things, because we're curious and curiosity keeps leading us down new paths". Walt Disney
Disclaimer: Levels posted in the Diamond Setups website are not a recommendation to buy or sell futures, trading futures is risky and you may lose all your capital, levels posted are for educational purposes only.