"Mastering the Challenge: Week 3 of Our 4th $25k Endeavor"
Day 148 (Week 42 Year) - Week 3 of our 4th $25k Challenge
As we approach Day 148 of Week 42, we stride confidently into the third week of our fourth $25,000 challenge. With the same fervor and dedication to our strategies, let's dissect the latest figures and set the stage for what awaits us.
Signals: In this journey, we've processed a total of 836 signals - a testament to our commitment. Among these, we've secured 658 wins and faced 178 losses. It's important to emphasize that we stand strong in our stance of not utilizing stop losses for signals, a testament to our trust in our strategies.
Average Risk/Reward Ratios:
T1 Signals: With 658 wins and an impressive 78.70% success rate, these signals offer a 3:1 risk/reward ratio. It's pivotal to understand that these signals belong to either the T1 category or result in a complete loss.
T2 Signals: Garnering 564 wins with a win rate of 67.46%, T2 signals provide a balanced 2:1 risk/reward ratio. These signals require a touch more skill, balancing slightly lower risk with slightly higher reward. T2 category or result in a complete loss.
T3 Signals: Boasting 503 wins at a win rate of 60.16%, T3 signals come with a 1:1 risk/reward ratio. This level demands mastery, where each dollar is matched with a dollar at risk. At this stage, an elevated skillset and mindset can lead to surpassing both the win rate and monetary gains. It's essential to remember that no stop loss is employed for any of the signals.
Based on our system, we maintain profitability at a 50% win rate while adhering to a 1:1 risk/reward ratio.
FITM: It's paramount to underscore that despite achieving 405 wins in this category, holding until expiry is not advised, with a success rate of 48.44%.
Weekly Results: In the current week, we've secured 7 wins against 4 losses, attaining a commendable 63.63% win rate.
Monthly Results: Over the course of this month, we've achieved 39 wins against 14 losses, resulting in an impressive 73.58% win rate.
Long-Term Success: Over the past 5 years and 3 months, our average win rate stands strong at an impressive 80.36%. This consistent performance underscores our unwavering dedication to our trading strategies.
Financial Progress: Reflecting on our journey, we started with $5,000.00 on October 2nd, 2023, and have made commendable strides, now standing at $7,238.00. This marks a promising start to this quarter. It's important to remember that starting with a low number of contracts amplifies the challenge, making discipline all the more pivotal.
A Look Back: Reflecting on past challenges, we've witnessed the evolution of our strategies. The first run to $25k was accomplished in 12 weeks, culminating in a total of $25,084.00. The second run concluded in Week 13 at $22,315.00, falling short of the goal by $2,685.00. The third run, which concluded at $21,497.00 in Week 13, was just shy of the mark by $3,503.00.
Today's Signal P&L: The day concluded with a profit of $120.00. As we continue through this month, our aim is to increase our reward while managing risk effectively and being mindful of our daily draw-down.
Weekly and Monthly Signal P&L: Looking ahead, our weekly and monthly signal profits stand at $120.00 for the week and $2,248.00 for the month of October.
Total Signal Profit YTD: Starting with $1,000.00, we've achieved an impressive year-to-date total signal profit of $70,704.00.
We're enthusiastic to face the challenges ahead and anticipate sharing more updates on our progress. Happy trading!
Coach David
4.9 (18 Reviews)
Trading Friends Forex Trading Group
704-202-1730
www.tradingfriends.org