Minsk - 25k mock challenge

[Minsk]

Trading plan for mock challenge test account 
Objective
Testing the prop firm's broker. Testing the trading rules of the prop firm.
6% plus 4% profit, relative DD 5%, time is unlimited. Consistency rules.
Preparation for a real challenge if things go well on test account.

Rules for account and trading

Timeframes
Depending on availability due to work. D1, H4, H1, H1/m15.

Pairs
EU, GU, UJ, GJ, UC, AU, UChf (only one asset class per account)

Account size
25k USD

Leverage1:10

Strategy
Banana

Risk/Reward ratio
1:5 preferred.
1:3 minimum.
Also looking at levels, an exact defined number of R’s is not a goal.

Stop Loss
All trades when entered will have a stop loss.

Trade management
SL to BE at 2R
SL to 1R at 3R
SL to 2R at 4R

Money Management
Starting with 0,2% risk per trade.
If balance +2% = 25.200 USD, double trade size to 0,4% per trade.
If balance +8% = 27.000 USD, double trade size to 0,8% per trade.
If balance +16% = 29.000 USD, double trade size to 1,6% per trade.
If 5 consecutive losers, cut trade size in half. Back to normal trade size when balance is restored to right level.
Total exposure no more than 3 trades running at any given time.

Broker
Afterprime

Platform
MT4

Trade Manager
Steve’s ATM
 
 

[Minsk]

EU bounced down from weekly level , GU bounced down from daily level, GJ no level to clear.
on H1, PO's on all these pairs. With the risk of failure.

GJ: PO was cancelled by ATM because price went below SL.

EU and GU both triggered.
Those weekly and daily levels still seem to a problem.
GU wasn't a really clean pullback, much wicks in those candles. 

GU ended BE.
EU I closed the trade in profit because of upcoming news. News would have taken it higher, but I do not want to be in the market when there is red news. Out just short of 3R.


Screenshots from MyFXBook:

status 13042023.PNG

 

stats 13042023.PNG

 GJ

13042023 GJ PO H1 cancelled.PNG

GU 

13042023 GU H1.PNG

EU 

13042023 EU H1.PNG

 
 
 
 
 
 

[Minsk]

I took a late trade yesterday (thursday 13-4-2023) on AUD-USD on H1.
Not the smartest trade, as the move was well underway and it was a 3rd pullback.
So a rent. 

13042023 AU H1.PNG

Friday morning a PO on EU had triggered on H4 and the trade was running.
Looking way back to the left, March 31st, price was at a level that it started dropping from. Besides that, it looked good, nice impuls, 2nd pullback with small candles. Anyway protection of capital, so SL to BE manually. 
Trade ended BE. 

14042023 EU H4.PNG

 After all the red news was done I took a trade on USD-CHF on H1. Tiny seed. Good impulse, this was 2nd pullback, and the first that cleared the 50ema. It rented. 

14042023 USDCHF H1.PNG

So right now I have 2 losers. 1 winner that was a small win because ATM wasn't configured right, so not a 5R. And  2 BE's.
7$ commission per lot for a round trip is a lot of money if you only trade 0.20% risk. Account size is 25k. So a losing trade is about 50$ loss plus commission. I bought 1.58 lots in UChf that's 0.2% risk. Losing the trade was -49.41$ then add commission 11.06$. That's like 20% extra loss. Abou the same applies to a trade on AU that rented. This means losing is very costly. Winning a 5R trade is very necessary. Otherwise max DD gets closer quickly and you need to scale back to 0.10% risk per trade. Then commission takes an even bigger relative portion when losing.

1442023 MyFX graph.PNG

 

1442023 My Fx trades.PNG

 

 
 
 
 
 

[Minsk]

Rented on GU today.
Good impulse of 4 candles. Signal 16.1 pips. 2nd pullback.
Was this already too far gone? ATR was 97, it had travelled 55 pips at entry. 
Price had not closed yet above the H4 level to the left. It stabbed through it twice. Maybe this was reason for rent.
Hard to say, sometimes these go like a topedo when it looks like this.

18042023 GU H1.PNG

 

1842023 MyFXBook graph.PNG

 

1842023 MyFXBook trades.PNG

 
 
 

[immy]

Rented on GU today.
Good impulse of 4 candles. Signal 16.1 pips. 2nd pullback.
Was this already too far gone? ATR was 97, it had travelled 55 pips at entry. 
Price had not closed yet above the H4 level to the left. It stabbed through it twice. Maybe this was reason for rent.
Hard to say, sometimes these go like a topedo when it looks like this.18042023 GU H1.PNG
 1842023 MyFXBook graph.PNG
 1842023 MyFXBook trades.PNG
 
 
 

 

hi

I took the same trae as well, but I lowered my lots to .25% for this one as I thought it was not higher probabillity. Just a feel for the market. And ofcourse a rent was "paid". NEXT

cheers

Immy

[Minsk]

I took 2 trades on UJ, both H1/m15.

Good looking impulse on H1, but no signal on H1.

24042023 UJ impulse on H1.PNG

So dropped to m15 that did have signals. I noticed the wick of the 13:15 bar that should be cleared before there was room upwards. I decided to set SL manually to BE if needed. Because account has had 4 losers. A 5th loser will make me cut size from 0.20% tot 0.10% per trade.
On m15 the Impulses looked good, not impulsive. The pullbacks looked good, not impulsive. These were 1st and 2nd pullback.

I tried twice, both trades I put SL to BE manually. Both trades ended up BE.

Trade 1:

 

24042023 UJ PO m15.PNG

24042023 UJ result BE.PNG

Trade 2:
 

24042023 UJ m15 2nd attempt.PNG

Account stats:
 

2442023 grafiek.PNG

 

24042023 alltrades.PNG

 

 
 
 
 
 
 
 
 

[Minsk]

Yesterday night just before closing I put a PO on UJ daily timeframe. That PO got triggered during the night and is still running.
EDITED: that trade just hit SL, so a rent.

24-4-2023 UJ Daily PO.PNG

25-4-2023 UJ D1 result.PNG

 

 
Today I did 2 trades on EU.
Both ended BE because I didn't want to loose. This is not good. Losing is part of the game. If I put a trade on, I should be Ok with losing, yes it sucks but accept it happens. What I do now is as soon as a trade is reasonably in profit SL goes to BE manually. Fear of losing and having to cut risk in half, it's a mindfuck. Discipline is key here. 
This mock challenge is a good warm up for the real thing. Emotions are real in this mock challenge, as I treat this as exam for the real challenge, better dealing with this stuff now than later.

EU was counter trend, 50ema.
The setups were good. Good impulses, good pullbacks. If I had not fiddles with SL this would have given me profit. So moving SL backfired immediatly. Learn and move on. Next.

EU trade 1:

25-4-2023 EU H1 anticipation entry.PNG

25-4-2023 EU H1 result BE.PNG

 
 
EU trade 2:

25-4-2023 EU H1 2nd try.PNG

25-4-2023 EU H1 2nd try result.PNG

 

Account stats:
 
 

25-4-2023 grafiek.PNG

 

25-4-2023 trade history.PNG

 
Now that's 5 rents. I will cut my risk in half to 0.10%.
 
 
 

[Minsk]

Kings Day, a national holiday here. More time to have a look at charts than when working.

Summary:
AU: -1R
UJ: +1R closed manually just before red news
AU: +0.2R closed manually just before red news
UChf: -1R
UChf: half closed at 2R so +1R profit, other half also closed at about 2R as SL got hit. So another +1R.

AU had a nice impulse on H1, but no signal yet, so dropped to m15. First pullback with signals there. Sl got hit.
Pattern I now see is that 1st pullbacks and 2nd pullbacks i have taken in previous trades that are relatively far from the Ema's, like this AU trade, get caught in the rubber band effect. So -1R here. Technically setup was good, location was not good, too far gone on m15.

2742023 au h1-m15.PNG

 
UJ nice impulse candles on H1, but no signals. So dropped to m15. Caught the 1st pullback there, a seed. That was doing great, but had to close the position because of red news on USD. 
 

2742023 UJ H1-m15 running.PNG

AU second try, now on H1. Took a seed there. Had to close the position because of red news on USD.
 

2742023 AU H1 running.PNG

 
UChf I missed the seed, and price was way up now. So I thought, why not hop on the anticipated rubber band effect. 2 pinbars had formed. First try was unlucky, took me out by a less than a pip and rented.
I entered again, SL went to BE at 2R. I closed half of the position for 1R profit as it was later in the day. The other half is still running with ATM on trailing candles.
Looking now, this just hit SL, also at about 2R. So 1R profit on tis half too.

 

2742023 H1 USDCHF 2nd.PNG

 
 

2742023 grafiek.PNG

 

2742023 trade history.PNG