What it is?
The5%ers offers a challenge where I can go from a 6k account to a 4Million, this is how it works:
For every 10% you make with your current account, they double your account size. The rules are, you have to make 10% of the account without losing 6% of that account, and you have a daily drawdown of 3%.
And I will try to do that publicly so that I can improve and be obligated to look at my mistakes and own them.
So that challenge is, I will try to go from the 24k account I have right now to the 4 million accounts and record the ups and downs of the journey.
Week 24-28 July
So the first two days were not the best, 2 days of back-to-back losses, sometimes it happens I just can’t let get to me, I need to clear my mind and stay with the plan. Thank lord the weekend is about to start so I can rest my mind and start next week with a clear mind.
So let’s sum up the week, I started well I had a great couple of trades on GBP/USD and EUR/USD which put me on 2% up on the account, but then I got a bad read on DXY on Thursday, and lead me to lose on that day and Friday. So we end up the week at 23 637 dollars, -1.45%.
Plan for the next week, wait for a good set up and risk 1% with preference on AUD/USD, GBP/USD and EUR/USD.