"Perseverance in Week 6: Progress in Our $25k Journey"
Introduction:
Stepping into the second month of our fourth $25,000 challenge, Day 165 of Week 46 stands as a pivotal milestone in our journey. It is characterized by unwavering dedication and an unwavering commitment to our strategies. Join us as we delve into the latest data and prepare for the road ahead.
Signal Performance:
Since the beginning of the year, we've meticulously analyzed 930 signals, resulting in an impressive 724 wins and 206 losses. Our approach, which avoids relying on stop losses, fortifies our confidence in our strategies.
Risk/Reward Ratios:
T1 Signals: Displaying a 77.84% win rate, these signals offer an enticing 3:1 risk/reward ratio, falling under either T1 or full loss.
T2 Signals: Showcasing a 66.66% win rate, T2 signals provide a 2:1 risk/reward ratio, falling into either T2 or full loss.
T3 Signals: Operating at a 59.78% win rate, T3 signals bring a 1:1 risk/reward ratio to the table, falling under either T3 or full loss.
It's important to note that signals do not employ a stop-loss strategy. Incorporating a strategic stop loss can enhance these target percentages. Regardless of stop loss usage, profitability is achieved at a 50% win rate at each target when utilizing a risk-reward ratio of at least 1:1.
FITM Category:
Despite securing 447 wins in this category, holding until expiry is never advised, resulting in a success rate of just 48.06%.
Weekly and Monthly Results:
The 2nd trading day of the week and the 7th trading day of November have displayed commendable resilience, with a 70.00% win rate for the week and a 65.78% win rate for November in its middle stages.
Long-Term Success:
Our win rate has consistently remained robust over the last 5 years and 4 months, averaging an impressive 76.875%. This ongoing performance underscores our unwavering dedication to our trading methodologies.
Signal Financial Progress:
Since the challenge's inception on October 2nd, 2023, with an initial investment of $5,000.00, we've made commendable strides, now standing at $13,284.00. 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 $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:
November 14th concluded with a profit of $600.00 for the session in a testy market. Our goal is to slightly increase our account while lowering our risk, all while being mindful of our daily draw-down. On days like these, it's crucial to remember that we're in a marathon, not a sprint, keeping the long-term goal in focus.
Weekly and Monthly Signal P&L:
Looking ahead, our weekly and monthly signal profit/loss stand at a profit of $975.00 for the week so far, trading just 2 days. The month of November began with a challenging 2 weeks; however, profits still stand at $2,373.00 in just 7 days of trading 3 hours in the morning!
Total Signal Profit YTD:
Starting with $1,000.00, we've achieved an impressive year-to-date total signal profit of $76,795.00.
Conclusion:
We're eager to continue this journey, embracing each challenge that comes our way. Stay tuned for more updates on our progress. Happy trading!
Coach David
*DISCLAIMER: While I strive for transparency, it's essential to use common sense. I assume you're an adult aware that success doesn't come overnight. I don't endorse get-rich-quick schemes. However, legalities dictate clarity. Hence, here's the official disclaimer:
There's NO GUARANTEE that techniques from Coach David or tradingfriends.org yield identical results. Past performance doesn't ensure future outcomes. The results shared are real but may not suit your situation, not a guarantee of earnings. Materials on tradingfriends.org and our slack platform aren't a "get rich quick" scheme. Your success depends on your skills, resources, market knowledge, and commitment. WE CANNOT GUARANTEE YOUR EARNINGS and don't imply it, directly or indirectly.
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