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Challenge: SIM Millionaire in 20 Days


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Challenge: SIM Millionaire in 20 Days

  #91 (permalink)
 
icedfrosty's Avatar
 icedfrosty 
Dallas/Texas/US
 
Experience: Advanced
Platform: NinjaTrader8, MetaTrader5
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Trading: Futures
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Day 1, my mother took 59 round trip trades of MNQ for a total gain of 5.90% over the starting account balance.

Mom's Starting Balance: $10,000
Mom's Ending Balance: $10,590

0.47 average tick gain per contract with total gain volume of 2,505 contracts (commissions included)



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  #92 (permalink)
 
icedfrosty's Avatar
 icedfrosty 
Dallas/Texas/US
 
Experience: Advanced
Platform: NinjaTrader8, MetaTrader5
Broker: NinjaTrader, AMP Futures
Trading: Futures
Posts: 257 since Sep 2020
Thanks Given: 70
Thanks Received: 549



Day 2, I took 15 round trip trades of MNQ for a total gain of 34.26% over the starting account balance.

My Starting Balance: $14,731
My Ending Balance: $20,502

19.39 average tick gain per contract with total gain volume of 595 contracts (commissions included)



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  #93 (permalink)
 
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 DanDaMan 
QC/Canada
 
Experience: Beginner
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@icedfrosty

You are essentially trading the full balance of your SIM account during the day, correct? You are not trying to turn your 10k SIM account into $1m the normal and safe way- which would be only risking a small percentage of your capital per trade (e.g. 1-3%). Every percentage of additional risk you take on- you multiply your odds of failing. Yes you can multiply your returns- but you need to be consistent- and people need to understand that.
The method you are employing, in and of-itself in a distribution of probabilities means that if you ever did hit your $1m goal, even once- you would have lost multiple times your goal trying to achieve it.
If you ever do manage to hit $1m, you would be an outlier- and the next time you try, you would most probably fall back within a few standard deviations and have gone bust.
So essentially, you need to make sure people here understand the HUGE caveat- which is the method you are displaying has implicit overwhelming odds to nearly always fail and destroy an account before you reach your stated goal of $1m.

This isn't to bash anything, this is just for any future reader to understand that this should not actually be attempted.

I'm all for seeing this for entertainment value- and it's a cool thing to see. Just many aspiring traders come to this forum, and should understand this particular thread is for entertainment purposes.

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  #94 (permalink)
 
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 icedfrosty 
Dallas/Texas/US
 
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Broker: NinjaTrader, AMP Futures
Trading: Futures
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After taking some vacation time and AMP Futures fixing an issue on their sim accounts...we are now ready to restart the SIM Challenge...

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  #95 (permalink)
 
icedfrosty's Avatar
 icedfrosty 
Dallas/Texas/US
 
Experience: Advanced
Platform: NinjaTrader8, MetaTrader5
Broker: NinjaTrader, AMP Futures
Trading: Futures
Posts: 257 since Sep 2020
Thanks Given: 70
Thanks Received: 549



Day 1, I took 8 round trip trades of MNQ for a total gain of 50.86% over the starting account balance.

My Starting Balance: $10,000
My Ending Balance: $15,086

24.39 average tick gain per contract with total gain volume of 417 contracts (commissions included)



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  #96 (permalink)
 
icedfrosty's Avatar
 icedfrosty 
Dallas/Texas/US
 
Experience: Advanced
Platform: NinjaTrader8, MetaTrader5
Broker: NinjaTrader, AMP Futures
Trading: Futures
Posts: 257 since Sep 2020
Thanks Given: 70
Thanks Received: 549



Day 2, I took 6 round trip trades of MNQ for a total gain of 50.28% over the starting account balance.

My Starting Balance: $15,086
My Ending Balance: $22,672

18.97 average tick gain per contract with total gain volume of 800 contracts (commissions included)



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  #97 (permalink)
 
icedfrosty's Avatar
 icedfrosty 
Dallas/Texas/US
 
Experience: Advanced
Platform: NinjaTrader8, MetaTrader5
Broker: NinjaTrader, AMP Futures
Trading: Futures
Posts: 257 since Sep 2020
Thanks Given: 70
Thanks Received: 549



Day 3, I took 3 round trip trades of MNQ for a total gain of 64.39% over the starting account balance.

My Starting Balance: $22,672
My Ending Balance: $37,271

54.17 average tick gain per contract with total gain volume of 539 contracts (commissions included)



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  #98 (permalink)
 
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 DreadChampion 
Albuquerque, New Mexico USA
 
Experience: Intermediate
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Awesome performance Frosty !! Keep it up buddy.

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  #99 (permalink)
 
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 DanDaMan 
QC/Canada
 
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*grabs some popcorn and sits down*

It’s like a movie you already know the ending for, but still want to watch


Sent using the NexusFi mobile app

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  #100 (permalink)
1BSD
Hamburg / Germany
 
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icedfrosty View Post
Great idea!

I use a 15-minute & 5-minute anchor chart and a 1-minute trigger chart.


Well the money management applied here is something else but so is the objective of this thread so thats fine and a why-not-give-it-a-shot kinda thing.

Actually if you'd open a real account with around the minimum margin 10 or 20 or more or what times, and blow up most of them trying to get to your target, and you only achieve that once out of all your attempts, well, that would would still put you far ahead of most others.

Now of course everyone realizes I suppose that the risk applied here is not sthg to do with your income generating accounts hoho ;-)

But for attempting to catch an outlier with some extra money lying around, well, why not.

And the method definitely looks sound, couple of moving averages to identify trends and pullbacks on a couple of timeframes, that is definitely stuff that can be made to work if one sticks with it.

How one goes about analysing trends and pullbacks really isn't as important as desisting the urge most of us had to learn to overcome to start tweaking methods and settings and time frames etc etc after an inevitable couple of losses, thinking the grass must be greener somewhere else.

Only way to get your edge to play out over a large number of trades is to stay consistent in applying it.

Plus, doing sthg extreme like this can definitely be a crash course in emotional self-control when things get hairy.

And that is probably the most important ingredient in making it as a trader, keeping your emotions under check.

So actually pretty good stuff all in all this thread :-)

Good luck mate

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Last Updated on November 5, 2023


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