stevehopwoodforex.com • The 100,000 pips SPB Challenge

Author:

SteveHopwood [ Thu Feb 14, 2019 10:47 pm ]

Post subject:

The 100,000 pips SPB Challenge

tomele » Thu Feb 14, 2019 5:02 pm wrote:Hi guys.

You all are in the middle of the SPB 100.000 pips learning process:

Patience is key. Sit on your fingers, please.

No matter when you start, no matter what your drawdown is. You must stick to the system and not start fiddling nervously around in the hope to outperform it. You will underperform it. In the course of the last year, I had drawdown periods of 3 months. I did nothing. Then a market trend kicked in, I was positioned well and had a run-up. At the end I had doubled my account. Would I had got cold feet and had closed (some of my) positions inbetween, I wouldn't have had all my horses at the start when I needed them.

Yep. You want get-rich-quick folks, go the online casinos. Granted you will probably go broke quick by doing so, but I absolutely totally guarantee that here is not the get-rich-quick place to be.

Nor is it a get-rich-from-an-underfunded-account place to be. Sorry folks, but one of the lessons I have learned in the last year is this: those $500 starter accounts will fail. I tried my best to make them work. Really I did. They don't.

Boys, you need chrome-plated titanium balls for this game. I'm not quite sure what girls would need, would there be any.

The same. They are just internal rather than blindingly and stupidly exposed to the rest of the world. Natural Selection ballsed up big time here.

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Author:	Gertje [ Thu Feb 14, 2019 12:37 pm ]
Post subject:	The 100,000 pips SPB Challenge
It seems also possible that different accounts have buys versus sells open..... Which I find strange, because if a sell signal is given, all buys should close if I understood the concept right.

Author:	MurphyMan [ Thu Feb 14, 2019 4:00 pm ]
Post subject:	The 100,000 pips SPB Challenge
I am also managing this NZD problem on my live account. My current basket started a couple of weeks ago. My original settings were to take profit with the percentage trailing stop set at 2.0, which right now would be roughly around $100. I started getting excited about the 100,000 pip challenge, my demo was doing well, so I used the 100,000 settings for my live account. The new settings started out well, and within a couple of days I was in the black for about $300. So far, so good (famous last words, eh?). I think I had around 38 open trades. Then, the trouble with NZD kicked in and I was rapidly $300 in draw down. Not a big deal, but the rest of the basket wasn't moving much. After a few days, it bounced back and forth and the basket seemed to be languishing within +- $50 of the break even point. So this morning, my basket was showing around $300 in the hole for the NZD issues and up $300 for the rest of the basket. When a basket gets stuck for a couple of weeks, I like to close everything out and let the trends re-establish themselves. Today I elected to close the whole basket with the exception of the NZD (nine trades). I figured I would ride out the Kiwi while the rest of SPB does it's thing. As of this moment, I am still using the 100,000 pip settings. Meanwhile, my untouched demo is still up 6,300 pips.

Author:	tomele [ Thu Feb 14, 2019 5:02 pm ]
Post subject:	The 100,000 pips SPB Challenge
Hi guys. You all are in the middle of the SPB 100.000 pips learning process: Patience is key. Sit on your fingers, please. No matter when you start, no matter what your drawdown is. You must stick to the system and not start fiddling nervously around in the hope to outperform it. You will underperform it. In the course of the last year, I had drawdown periods of 3 months. I did nothing. Then a market trend kicked in, I was positioned well and had a run-up. At the end I had doubled my account. Would I had got cold feet and had closed (some of my) positions inbetween, I wouldn't have had all my horses at the start when I needed them. Boys, you need chrome-plated titanium balls for this game. I'm not quite sure what girls would need, would there be any. Cheers Thomas

Author:	Gertje [ Thu Feb 14, 2019 6:06 pm ]
Post subject:	The 100,000 pips SPB Challenge
Thanks Thomas, I needed this.... Did you ever check the DD against the H4 Peaky? Is there a correlation between pairs going against H4 Peaky and DD? Just wondering....

Author:	bishopdotun [ Thu Feb 14, 2019 6:51 pm ]
Post subject:	The 100,000 pips SPB Challenge
tomele » Thu Feb 14, 2019 5:02 pm wrote:Hi guys. ....., you need chrome-plated titanium balls for this game. Cheers Thomas You nailed it.

Author:	tomele [ Thu Feb 14, 2019 7:21 pm ]
Post subject:	The 100,000 pips SPB Challenge
Gertje » 14 Feb 2019, 19:06 wrote:Did you ever check the DD against the H4 Peaky? Is there a correlation between pairs going against H4 Peaky and DD? Gertjan, I force myself to think as few as possible when running a test. I don't even look at the charts for days. Does the test run well? If yes, I ignore it even more. Does it run bad? I abandon the idea. I only think when setting up new tests. And even then only a little bit. All that thinking leads to nothing. My results are not the result of a thought process centered around indicators and price action. They are a result of setting up strategic testing. I don't know what works, but I know how to find out. Sad, but true. Thomas

Author:	alecsa72 [ Fri Feb 15, 2019 5:59 am ]
Post subject:	The 100,000 pips SPB Challenge
tomele » Thu Feb 14, 2019 7:02 pm wrote:Hi guys. You all are in the middle of the SPB 100.000 pips learning process: Cheers Thomas Hi Thomas What was your reasoning for excluding GBPNZD and EURNZD from the initial set (especially since NZDUSD is included)? Just curious to hear your train of thought Thanks

Author:	Gertje [ Fri Feb 15, 2019 3:04 pm ]
Post subject:	The 100,000 pips SPB Challenge
Maybe someone can help me out? I've been trying to solve this for a few days now, to na avail. Below is the current EURNZD chart. The EA-display shows D1 SS as a red down arrow [duh], and the H1 PK as a white down arrow. That last thing I have trouble to understand, as price is clearly in the ' tradingzone'. I would expect H1 PK to show a green up arrow. peaky.png Anybody that can answer my question?

Author:	SteveHopwood [ Fri Feb 15, 2019 3:40 pm ]
Post subject:	The 100,000 pips SPB Challenge
Gertje » Fri Feb 15, 2019 3:04 pm wrote:Maybe someone can help me out? I've been trying to solve this for a few days now, to na avail. Below is the current EURNZD chart. The EA-display shows D1 SS as a red down arrow [duh], and the H1 PK as a white down arrow. That last thing I have trouble to understand, as price is clearly in the ' tradingzone'. I would expect H1 PK to show a green up arrow. Anybody that can answer my question? Peaky is a tad on the literal side of thingies. No new low means the cycle has not completed yet and so is still traveling in a downward direction. EURNZDH1.png

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