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Challenge: SIM Millionaire in 20 Days


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Challenge: SIM Millionaire in 20 Days

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  #11 (permalink)
 icedfrosty 
Dallas/Texas/US
 
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loantelligence View Post
your Mother is not going to have any problem reaching her goal.....looks fantastic........keep up the good work......looks like everyone could use her methods......the commissions on MNQ for trades like this are much more than just trading the NQ....unless she is using someone else for commissions....28 contracts on MNQ are going to be close to 28 dollars....where as 3 contracts on NQ are only going to be 14.00.....so the commissions are twice those of NQ....is she using monthly payments for commissions.....that would make sense in her case.....thanks

Yes, MNQ has roughly double the commissions as NQ. We thought running the challenge on the MNQ would make the journey more accessible to those interested in tracking her journey.

In general, I don't believe either of us worry much about commissions when we trade. Fast scalping often has higher than typical commission costs due to the elevated number of round trip trades per day. For example, I only scalp about half the time and my commissions may seem high to some and low to others...below is from one of my broker statements....


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  #12 (permalink)
 icedfrosty 
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matthew28 View Post
Impressive results.
Using a Metatrader Expert Advisor means this is automated trading right, so a retail algo?
If so how is your "mother" involved exactly. She is supposedly a pro trader yet trading a sim account to become a "sim millionaire" but then you also say it is an Amp Futures account?

If sim, surely a pro trader would be happy to risk $10K to make $1M real money in twenty days, especially if it is an algo and could be backward tested and forward tested till confident enough to try it for real. Or if not an algo but discretionary trading why is 'she' wasting twenty days of her time and effort to make $0 real money.
That seems like a poor trade unless it is just to showcase a scalping algo that produces good sim results but can't replicate that in a real market.

Thank you. I hope you find it both educational and entertaining.

1) The MT5 Expert Advisor is called TickHunter and available for free with source code. It is also available on this futures.io for NT8. It is not an automated trading algo and all her trades are discretionary. The bot has features like "BE+" that will move her stoploss to break-even in one click.

2) My mother "was" a pro trader...she no longer trades client accounts and only trades her own money.

3) The SIM account is running on MT5 with AMP Futures as the broker.

4) Regulators have many restrictions on people sharing trading information that have "claims" of being live accounts. SIM is easy and can be helpful for education and/or entertainment purposes. This is why you may seldom see a live account being traded.

5) Some mothers enjoy competitions with their sons...we have been competing with her trading since we were preteens running SIM accounts on a Intel x386.

6) Nothing to buy here...I realize that is hard to believe and healthy to be a doubter as this is not typical...all indicators and EAs are available for MT5 and NT8 including source code.

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  #13 (permalink)
 bobwest 
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icedfrosty View Post
Thank you. I hope you find it both educational and entertaining.

1) The MT5 Expert Advisor is called TickHunter and available for free with source code. It is also available on this futures.io for NT8. It is not an automated trading algo and all her trades are discretionary. The bot has features like "BE+" that will move her stoploss to break-even in one click.

2) My mother "was" a pro trader...she no longer trades client accounts and only trades her own money.

3) The SIM account is running on MT5 with AMP Futures as the broker.

4) Regulators have many restrictions on people sharing trading information that have "claims" of being live accounts. SIM is easy and can be helpful for education and/or entertainment purposes. This is why you may seldom see a live account being traded.

5) Some mothers enjoy competitions with their sons...we have been competing with her trading since we were preteens running SIM accounts on a Intel x386.

6) Nothing to buy here...I realize that is hard to believe and healthy to be a doubter as this is not typical...all indicators and EAs are available for MT5 and NT8 including source code.


I admit to having some skepticism, especially when I first read the thread's title, but it's interesting and should be entertaining.

I just have a few questions, neither of which you have to answer, of course, just my curiosity:

1. Other than entertainment value and maybe encouragement, is there something here that is of value to the traders reading it?

2. What is the point for you in posting this? This is sort of like the first question, and has a similar point, but I'll leave it as a question on its own.

I'll leave unsaid the "Is this for real?" question, since I'm (partially) suspending disbelief for now. I'm sure I'm not the only one with it. For anyone to get this kind of real-time results, even in sim mode, from using widely available indicators, is difficult to believe.

I also do need to point out that there are some rules about vendor self-promotion that will come into play if in fact there is some selling going on. I'm suspending disbelief here too, but thought I'd bring it up, just in case.

I'll be interested in how your "mom" does....

Bob.

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  #14 (permalink)
 icedfrosty 
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bobwest View Post
I admit to having some skepticism, especially when I first read the thread's title, but it's interesting and should be entertaining.

I just have a few questions, neither of which you have to answer, of course, just my curiosity:

1. Other than entertainment value and maybe encouragement, is there something here that is of value to the traders reading it?

2. What is the point for you in posting this? This is sort of like the first question, and has a similar point, but I'll leave it as a question on its own.

I'll leave unsaid the "Is this for real?" question, since I'm (partially) suspending disbelief for now. I'm sure I'm not the only one with it. For anyone to get this kind of real-time results, even in sim mode, from using widely available indicators, is difficult to believe.

I also do need to point out that there are some rules about vendor self-promotion that will come into play if in fact there is some selling going on. I'm suspending disbelief here too, but thought I'd bring it up, just in case.

I'll be interested in how your "mom" does....

Bob.

1) Nothing else. Just sharing the fun of the challenge "outside of the family".
2) Just what you mentioned. Primarily for entertainment purposes...maybe a little education on how a fast scalper can "overcome the math"...and a little encouragement to all those out there that are pursuing what I consider the most difficult method of trading...fast scalping.
3) Yes, my mother was a fully licensed trader....had clients that are/were household names...ran several banks in the north-west...back when brokerages and banks could operate under the same roof.

I don't sell anything...I give everything she and I trade with away... including source code. I fully understand the disbelief as this is a very healthy reaction to such a "bold challenge"...for that matter anyone claiming that "they know someone that was a pro trader" and now all they want to do is help other traders become successful....assume "fun and games". There are some great trading courses/tools out there but don't buy anything from people making grand claims of fast cash from trading. Trading is a very challenging path...just like starting a business...most people who try will fail....the risk is high but the reward can be high also.

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  #15 (permalink)
 matthew28 
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@icedfrosty
Thank you for your comprehensive answer (and for not taking offence which to me says a lot in your favour).

I'm obviously not a moderator, just sceptical when I see a lot of effort going in to something for no actual reward, ie discretionary scalping requires constant screen time not just set and forget, and at the end of twenty days she will only have a high score on sim as reward.

I was sincere when I congratulated you on the results though and perhaps if she wins the competition her sons will take her out for a celebratory meal at least

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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  #16 (permalink)
 DreadChampion 
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Cant wait to follow your Mom's journey. I love the ZombiePack and Tickhunter. Ive been using both for a while now.

By the way, this is Adam R on the Discord forum. Keep up the coding and thanks again for the awesome tools. Your Mom is killing it !!

Adam R

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  #17 (permalink)
 icedfrosty 
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matthew28 View Post
@icedfrosty
Thank you for your comprehensive answer (and for not taking offence which to me says a lot in your favour).

I'm obviously not a moderator, just sceptical when I see a lot of effort going in to something for no actual reward, ie discretionary scalping requires constant screen time not just set and forget, and at the end of twenty days she will only have a high score on sim as reward.

I was sincere when I congratulated you on the results though and perhaps if she wins the competition her sons will take her out for a celebratory meal at least

Thank you very much.

I recommend to always be skeptical...most people only want you to buy their courses/tools because it is much easier than trading. I hope you enjoy following my mother's SIM journey.

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  #18 (permalink)
 58LesPaul 
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For our enjoyment/education, why not record the screen so we can watch her trade?


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  #19 (permalink)
 icedfrosty 
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58LesPaul View Post
For our enjoyment/education, why not record the screen so we can watch her trade?


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I like that idea. I will explore ways to record her trading.

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  #20 (permalink)
 58LesPaul 
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Should be able to screen record with current software on a pc.


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