"Triumph Over Trials: Insights from Week 6 of Our $25k Journey"
Introduction:
As we stride into the second month of our fourth $25,000 challenge, Day 161 of Week 45 stands as a pivotal marker on this journey. It's characterized by unwavering dedication and an unyielding commitment to our strategies. Join us as we dissect the latest data and gear up for the road ahead.
Signal Performance:
Since the onset of the year, we've meticulously analyzed 909 signals, resulting in an impressive 710 wins and 199 losses. Our approach, which forgoes stop losses, fortifies our confidence in our strategies.
Risk/Reward Ratios:
T1 Signals: Flaunting a 78.10% win rate, these signals offer a tempting 3:1 risk/reward ratio, categorized under either T1 or full loss.
T2 Signals: Showcasing a 66.77% win rate, T2 signals deliver a 2:1 risk/reward ratio, falling into either T2 or full loss.
T3 Signals: Functioning at a 59.73% win rate, T3 signals bring a 1:1 risk/reward ratio to the table, falling into either T3 or full loss.
It's worth noting 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 436 wins in this category, holding until expiry is never advised, resulting in a success rate of just 47.96%
Weekly and Monthly Results:
The first trading day of the week and the third trading day of the month have displayed commendable resilience, with a 57.14% win rate for the week and a 64.70% win rate for November in its early stages.
Long-Term Success:
Over the last 5 years and 4 months, our win rate has consistently remained robust, 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 $10,684.00. 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 7th concluded with a loss of $25.00 for the session in a sloppy 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 loss of $25.00 for the week so far, trading just 1 day. The month of November began with a challenging week; however, profits stand at $773.00.
Total Signal Profit YTD: Starting with $1,000.00, we've achieved an impressive year-to-date total signal profit of $75,195.00.
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
4.9 (18 Reviews)
Trading Friends Forex Trading Group
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