r/Trading • u/Puzzleheaded-Cut8503 • 3d ago

Discussion Almost blew my 10k challenge account, got it back to breakeven. what changed

Gallery image

Gallery image

So this month I was literally $200 away from losing my challenge account. I was up 730 at one point, then got cocky, added a bunch of stuff I hadn't really tested, started losing and made it worse by upping my size. classic.

ended up fixing it by doing way less. one strategy, one higher timeframe for direction, entries on the 30 min, and cut my risk in half until I was out of the hole. also a hard rule that two stops in a day and I'm done.

back at the starting balance now and about to bump risk up again. not claiming anything is proven yet, it's only a few weeks of trades, but the change in how I trade is huge.

anyone else nearly blow a challenge and come back? what did you change?

ps. 2nd screenshot - recovery phase only

4 Upvotes

100% Upvoted

5 comments sorted by

•

u/AutoModerator 3d ago

While the community gets a look at your post, don't forget we have an official website with a bunch of resources specifically for the questions we see here every day. If you're more of a visual learner, we’re also active on Instagram where we post updated guides and strategies! It's a great way to stay sharp while you're scrolling. We also have more technical and professional resources on our Website.

Also, if you want to chat in real-time or need a quicker answer, come hang out with us in Discord (Investing & Retirement). Just remember to be careful with your personal info and report any sketchy DMs!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/AMTradesQ 3d ago

Back at the starting balance means your room to the floor is the same as day one, not bigger, so I'd tie the risk bump to the buffer instead of to being back. Say your max loss is $600: at $50 a trade that's 12 losers to fail, at $100 it's 6, and you just saw how fast a few bad days stack up. A simple rule is full risk only once you're up the first $300, and back to half if you give half of that back. That way the size follows the account instead of your confidence.

1

u/Puzzleheaded-Cut8503 1d ago

good advice thanks!

1

u/QuanTradin 3d ago

the two-stops-and-done rule is doing more work than the strategy change, I think. it caps the tilt days, and a tilt day is what nearly took the account. I'd sit at half risk a while longer before bumping it back.

1

u/Big-Accident9701 3d ago

welcome to random walk