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Shawn's consistency challenge

 
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chaffcombe17

Shawn's consistency challenge

Just wondering who here has committed to do Shawn's consistency (or Hamilton) challenge?   

https://www.youtube.com/watch?v=PAhbqiYV14Y&t=14s

Seems a brilliant idea to me!

 

 

Sat, 02/09/2019 - 8:19am
 
Rookie

@mybidshelp, congrats on the challenge!

Do some searching for the class there are quite a few posts.

 
burton

hey scottpatton, appreciate your thoughts...how is going? ...have you hit your 10 days?

 
burton

i really had to step back, regroup, slow myself down, and focus on my setups, to the point that i've really been hammering at my process/system, and setup rules...really close to having a very clear set of rules and process.

i actually record 90% of my trade sessions, for future review.

to really bring the habit home, and to reinforce my trading process and setup, i have added to the task, to up the challenge...

- i have two simulated accounts, a silver account, and a gold 1 account
- i have been hitting the hamilton target on all four accounts
- i did have one session, where it just went wrong, haven't reviewed it yet. i do however take many notes, while trading

to everyone, embracing the challenge, hope your doing well with your challenge...and a quick reminder, if you are having some struggle, you are not alone. this is one hell of a challenge.

talk soon

 
burton

oh, one of the other things i did, i reduce my forum time, it was simply to distracting.

 
triguylm1

The Hamilton Challenge is a great way to become consistent even if the market takes more than it gives. . . just get out on the side lines during the time the market is taking! lol Just a thought. Anyway, try one directional trading. Take another look at the Hamilton challenge video on Apiary's Facebook page. And take a second look on Shawn's results on the computer screen. You will see how he had booked EUR/USD positions all "Buy" orders!

I'm at day 6 in a row so far this month.

 
shinkee

I'm on day 8 for March, and I'm doing $15 per day.
It is really a great way to acquire the patience skill.
It's like I need to constantly battle my urge to get in more, and not mess up any trade.
In my Gold 1 account, every time I try to "do just a little more", I'll end up losing big.

 
-jM

Looking good shinkee!

I've had a challenging start for this month, but looks like I'm headed in the right direction now!
This challenge is really refining my trading skills and giving me confidence that I can do this forex trading!

Stay positive!

 
juwanson

Attained Gold 111 on March 7 and my challenge is $15.00 per day today I am up $50.00 in total so not too bad. My challenge is to see my winning trades hit 7 pips, my instinct is to close the trade .but then the market would have given me more. I need to be patient and disciplined

 
dparsons98

Is there really a Wobble Technique Master Class? cost?

 
-jM

Congratulations and good luck juwanson!

 
ebryantjr

what is Shawn's challenge?

 
triguylm1

Make $10.00 a day for day days in a row and get a $10.00 discount on the monthly fee.

Also, it's a challenge to become more consistent with profit per trade, along with an easy possibility frontier goal for each day.

If you think it's easy to earn $10.00 on the 10K account, then raise the bar and do it on a 1K account, you may find it very hard to do at first. Same thing for the 10K account, next step is to set a goal to earn $100.00 per day, even if it takes 100 trades of $1.00 each.

Visit Apiary's Facebook page and click on the Hamilton Challenge.

 
triguylm1

Completed the Hamilton Challenge again 10 days in a row with an Average of $65.00 this time.

 
chaffcombe17

That's very impressive, whether you are holding some trades over on somedays or not. I wouldn't mind discussing what you are doing sometime.

I've had to take time-out from this challenge because I am running an analytical EA 24x5.5 just at the moment, and unfortunately Alveo doesn't let you run an EA in one account at the same time as manually trading in another. I do want to get back to it though, as I think it will be beneficial

 
burton

before the hamilton challenge, i didn't realize what i didn't know, about my trading. since starting the challenge, i have really shifted my focus, and i'm, for the first time since joining apiary, feeling strong, regarding my trading process, and approach.

i've included a snapshot, that will illustrate the change...

one additional note: my unrealized, which is hedged, is above $10k, so, my sim account, for the hamilton challenge, is positive, and profitable.

also: the extreme spikes, are hedged offsets, actually, a net profit.

alveo-10-dollars-per-day-sim-account.png
 
burton

with regard to my "gold 1" account, i have started to reverse direction, as i am applying the same process, and approach.

i was fearless, even with my gold account...i knew i had to work through the challenges, even if it impacted my balance...now i can show a history of recovery.

 
burton

ebryantjr, here's the source video for the hamilton challenge...

https://www.youtube.com/watch?v=PAhbqiYV14Y

 
burton

back above $10k, not sure if i want to celebrate, the test is keeping the consistency and the profit over time.

alveo-10-dollars-per-day-sim-account-001.png
 
shihab33k

Got 10$ discount on technology fee today for Completing the Hamilton Challenge.

This is a very good learning experience for me. This improve my overall trading a lot. Thanks to shown.

Waiting for more challenges like this.

 
stevenbrownetrading

great,i am inspired i watch Shawn on you tube live he is good on doing it

 
burton

alveo locked up, and i took a really big hit...

- aside from the unbelievable failure of alveo, no other trading platform, opened on my workstations, failed, i will be reviewing my open positions, to determine how i could have been setup differently.

frustration is peaked, still, i got to own my part in process.

 
triguylm1

Thanks Malcom,

I'm glad the automation is working for you. What are the parameters when markets are in trending patterns vs parameters when in a price range scenario. Or does it work with filters to discern each pattern for the entry and exit triggers.

I'm still developing ways to improve my numbers of winners vs losses. Two basic concepts are (1) building trading scenarios and (2) apply them with realistic leverage size per daily risk percentage. Meaning using numbers to my advantage. So as the daily risk increases then I can scale into a position and book more profits along the way, while I maintain leverage within risk tolerance.

For example: My trading scenario I posted back in October was to challenge myself and anyone else to trade like Gold had reversed off the double bottom formation. I had left a chart showing the analysis and said "Scale in everyone" This reversal analysis can give one confidence that support will hold. So the challenge (Trading Scenario) is to add 4 positions going long gold every 10 pips. I started scaling in as my full time job would allow, plus I was working in Africa at the time with limited hours to trade.

Think about how much leverage that is! and the profits began to be huge! over $3,800.00 in one day. (see my post on 10/11/2018 on my Thread > "Part Time Funded Trader") https://apiaryfund.com/forum/part-time-funded-trader

The last few months price trades in a price range scenario, so I developed a better way to enter the market on these price range scenarios and I have consistent success entering on the overbought or oversold price levels and simply hold until price reaches the middle and begin using trailing stops.

So, the trading scenario includes writing down these scaling in scenarios to the medium price level of the last 30 day period. Then trade the plan as much as my screen time will allow me to do. Since, I still work I simply use pending orders to do the work as planed anyway if I'm not able to enter at the market.

 
chaffcombe17

triguylm1: Your third sentence defines the problem, but the solution is far from easy. By that I mean that different parameter values tend to have very little significance (over a significant enough sample, of course). If the market is trending, trending systems of all stripes will show an advantage. If the markets are ranging, contrary systems will win out. In both cases though trade costs will take a big chunk out any gains, and add to ones losses. Filtering effectively is elusive

I think it ultimately comes down to how one likes to trade, and how one prefers to management their funds.

As you have observed here, making $10 a day on a $10000 account is not that hard. Why - because one simply martingales until the market turns in our favour. However, there is always going to a day of reckoning and that tends to be disastrous, both emotionally and financially.

Right now, I think a sounder way is more along the lines you have mentioned, and that is to identify a movement catalyst, and scale in aggressively. I'd rather be profitable every month, than everyday until I'm not! That's not to say I don't think there is great benefit in this challenge. Anything that sharpens ones skills will pay off in some form.

 
triguylm1

Agreed! Perhaps, one trader uses a large stop loss and scalps up 3 to 9 pips at a time booking 93% to 96% winning ratios each month, see your 30 day statistics, While the average win is only 50% vs average loss. Meaning, the ratio of winners out weighs the larger amount of loss each time. So the day of reckoning is already built into the system in this case>

Also, if a trader is using the Benjamin formula, but finds the winners are only 25% vs losses, then has the system failed? or is the entry price in a low probability scenario.

I hear about the "Market Correction" many times, or the day of reckoning, when price makes that unusually large move! But like you mentioned, if one is using proper management skills, then that risk is minimized and overall the system maintains positive expectancy.

I think it pays to be on the sidelines when price is near the middle of a price range, because the odds of price moving in one's favor is only 50 / 50. Price could run either direction, their is no overbought or oversold scenario. One may think price will trend to the other side, but not always. Plus, even if the market is trending how much of a pull-back can the position hold up against a 5% risk limit? Say 40 pips? 120 pips? 260 pips? Has anyone besides me calculated these (lot size / leverage) limits?

Thanks, Malcom

 
KevinBanks

9 down 1 more to go on Monday!

 
bobpedreira

Still trying. Get 8-9 days, then I blow it

 
Rookie

bob, you have company, I blew my series yesterday.
Keven good luck! rooting for you.

 
KevinBanks

next challenge should be 20 in 20.

 
mikehitschler

Starting Monday!

 
eca

100 pips with 0.01, or 10 pips with 0.1 or maybe 1 pip with 1 lot size: That is the question...
One pip should be easy...

 
Rookie

eca, a ham a day is $10.00 per day, every day

 
eca

/////////eca, a ham a day is $10.00 per day, every day/////

Thank you Rookie :), like your comment, I can understand it on many ways.
Yes, I should take as less risk as possible considering my account and especially my trading skills in case I want a "ham" everyday.
If Mr. Shawn takes 0.1LS per trade during the Trading Room, 0.01LS is more than enough risk for me.

 
KevinBanks

and Done!

 
Rookie

Kevin Congrats, well done.

 
drjohnbrowne

Very helpful. Thanks.

 
KevinBanks

thanks rookie. averaged $18 per day. doing Shawn's wobbling technique. wished I would have figured it out before blowing up my 2500 account. I will get back slowly but surely.

 
Rookie

Kevin, I have hung out for 2 years no, recently this was my song,
https://www.youtube.com/watch?v=yJlgio-UOng,
Then all of a sudden, no not all of a sudden as I am very headstrong.
But finally, my thunder cam rumbling to the surface.
Small lot sizes and low leverage... da, I have succumbed to the wretched cash management of not only getting out of a 2.5K hole but get refunded and move forward.
But I haven't completed the ham a day, this is my 5th attempt and I pray my last.
I am cheating just a bit as I am useing a much smaller account to do it with...:))

 
burton

rookie, i'm surprised, for some reason, i thought you would be one of the few who could easily complete the challenge.

what's the farthest you have gotten?

 
KevinBanks

@Rookie. sounds like risk manager helped you out? I am down at 1550 on my 2500 account. I am thinking that after 30 days of consistency hopefully the risk manager will possibly help me out.

 
mesymmetry

I tried and failed the challenge 3 times at the 6 and 7 day levels.Finally made it.The lesson?Cut losses faster ( I thought I was...I was wrong) and persist.Keep going.

 
burton

"Cut losses faster ( I thought I was...I was wrong)" ...interesting how that works, right. congrats.

 
kurre1962

Hi this is my second challenge and have 7 days done so far, but have a question, if I make it today its 8 days, but tomorrow its good friday and on monday its easter holiday, its only US and maybe asia thats open, do I have to trade or can I wait to tuesday? what do you guys think?

 
kurre1962

8 days done, but.. do I need to trade on good friday? No answer from the support yet.

 
mcknightrs590

thanks for the link.

 
vestedinterest

Yes, I have been doing very well with it minus one Day....Actually helped me get to the Gold 2 :-)

 
burton

just completed round 2.

 
eduardoandrade.ec

On my first try I had completed 9 days. And I had exactly $9,50 on the 10th day. Then, trying to go for those last 50 cents, somehow I managed to lose 5% of the account!

On my second try I did it with less stress, finished on the 16th. Not sure when they will publish and/or make it official, but I am glad I was able to complete the task anyway.

 
burton

eduardoandrade.ec, make what official? ...the challenge is official.

once you complete the challenge, goto...

https://www.facebook.com/apiaryfund/photos/a.295200750566293/20377754863...

and fill out the form.

ps...

$ 0.50 cents vs 5%...that's an ugly proposition. i'd really be doing some review, and evaluation.

for me, i had to let go of attempting to trade like shawn, it's not how i think, or flow. once i did that, i was solid.

 
eduardoandrade.ec

I did that already but I didn't appear in this last list of the achievers, so maybe on the next one. Or perhaps I didn't make 10 dollars on one of the days, who knows. Anyway, it was fun and interesting.

And yes, that was tough. The thing is, I was trading on a demo account and I wanted to go back to my regular account, so I was very impatient and wanted to complete it fast, so I made very poor decisions based on that. It was a very good and inexpensive lesson I believe!

 
burton

"I was very impatient and wanted to complete it fast, so I made very poor decisions based on that" ...eduardoandrade.ec, think about this...

in live trading, the same emotions, and state of mind can play out...maybe there is something for you to learn from the experience? ...maybe.

 
chaffcombe17

Almost by definition, making a consistent amount each and everyday necessitates a short-term approach; which Shawn is a master.

I've said before that Shawn is always worth watching, but I found the latest Trading Room video https://apiaryfund.com/training/discussion/trading-room-413 when watched in conjunction with Shawn's most recent FOMC video (which he refers to) on YouTube https://www.youtube.com/watch?v=HysIBKjNbQA quite exceptional.

You see him trading in both benign and extreme market conditions. There's so much to learn in these videos, particularly his mental composure.

 
chuckjohnsservices

I think just by watching Shawn doing live trading is a course by itself. He's a master and to me, a fascinating show. I wish he would just talk incessantly about what he is thinking. We are so lucky to have him and our other professional traders.

 
pythons

Did Shawn come out profitable at the last FOMC? I have to review that again. Where did they get the live feed for the FOMC meeting?

 
jwhill10

Yes, Shawn's consistency strategy is a GOOD plan. Stop trying to make a HOME RUN, and just stick with a plan. Say 30pips a day would be good. Of course trading along side him in the trading room will boost your acct 1 day of the week. Just like the strateygy, "KNOW WHEN TO FOLD THEM" is a good idea. This is my first week in a funded account. Finally made it, but you try and try to be careful then boom a little setback. Just don't let it get you down, stop when you get to your goal for the day.
Go to one of you demo accts and trade till you've got the urge to trade is gone....:-)

good luck and

**THANKs Shawn for letting us share 1 day out of the week where WE TOO can trade like the Master Does. Its Not that easy on your own.

thanks
jerry

 
pythons

Successful trading is all about managing risk and the probabilities of winning versus losing.

Good advice jwhill10!

 
N. Mendez

Do holidays break the streak in the U.S?
I am on day 5 but Monday is a bank holiday Memorial Day. Not really keen on trading while the U.S Market is closed

 
mybidshelp

3 successful weeks so far using Wobble Technique. N. Mendez , It looks like the UK has a spring Bank Holiday on the 24th of May also. I would think that not trading that day would stop your 5 day Hamilton Challenge. Check with the office to find out for sure.

 
N. Mendez

Just to be safe I traded the EUR open Monday at 2 am and my streak is still live at 7 days in a row. This is about my 5th time trying and the closest I got was attempt 3 which was 8 days in a row.

This may be obvious to some but it is harder to scalp in the Asia session at night. Not saying it is not possible but most days are a chore watching paint dry waiting for some price movement. I found during this time I was more prone to losses because of it so now I only trade the Euro and US session where price action is like warm butter on toast :]

 
N. Mendez

I finally did it today after 5 attempts. I realize now why Shawn wants us to do this, I feel my trading has much improved and knowing I did this thing I am confident I can do it again.

 
burton

N. Mendez, congrats.

 
travelingbrother

Is this challenge still ongoing?

 
jojovjl

Watching Shawn's trading is really amazing. the confidence level is massive.

 
twbrown

So I missed this when first posted but Challenge Accepted. What a great exercise.

 
prosperalways

Certainly food for thought. Thank you.

 
freddosch7

So that was a great exercise and not as easy as you think, Shawn has already thought of something!