MORE EXPERIMENTATION WITH NADEX IN-THE-MONEY BINARY OPTIONS This is the third time I am starting with a $10,000 demo balance in an effort to reach $30,000. I get to $20,000 every time, usually in about two or three days (this time I started Sunday night, September 18, 2022). Again, I am completely ignoring all the proper money/risk management protocols, which means every single (in-the-money binary option) position I take needs to be a winning trade, which is the whole point of this present exercise/challenge—to zero in on that last little tweak that will render the whole system virtually faultless, so that I can put together a string of winners long enough to get me to $30,000. I can then take those almost flawless practices and apply most of the conventional money/risk management rules while trading NADEX Knock-Outs for what should then be absolutely optimized returns.
THIRD TIME'S THE CHARM! But, it had nothing to do with luck. As stated above, the whole point of this exercise was to zero in on that last little twist that would eliminate whatever flaws were preventing me from growing a Nadex demo account to the next level, from $20,000 to $30,000. In applying the solution to the problem, I was able to take my balance from $20,422.75 to $31,297.75 in a single day. Accordingly, I plan to apply the correction to my routine trading on a daily basis so that I am performing as close to my peak as often and consistently as possible, and to make the designated actions so habitual that I will hardly have to think about them if and when I look to scale the system at any point in the future.
Anyone who makes 50% in one day is throwing stuff to the wall and hoping it sticks. You have learned nothing.
There's nothing wrong with being bold with trading....but there's a fine line....between doing it expertly, professionally,....and doing it in an amateur, gambley, foolish approach.
It is interesting to me to note the degree to which it takes less effort to make more money as this account grows, and of course, how it can be accomplished with less and less risk. It makes me wonder how best to capitalize on this if ever the system were to be scaled. For me, it also answers the question, "If it works so well, why not just trade it yourself and not involve others?" Again, the more folks that are involved, the less the amount of effort that is required on my part to make even more money, and with less risk. Since people would be trading MY money, capitalizing might involve their receiving relatively small percentages of weekly payouts at first, with the relative amounts assigned to them growing as the size of their balances grow. It would kind of be like their paying me back a loan I gave them, with their enjoying close to the full fruits of their efforts once I get my initial "investment" back. What I need to work on now is designing a lower panel that makes crystal clear when and where to enter and exit positions so that recruits don't see the actual indicators painted on their main charts, which would protect me from having people try to copy my intellectual property (in combination with other safeguards). The program might even have limits on trade sizes, drawdowns, etc., automatically calculated for participants so that they can't do something stupid, rather than how these so-called prop firms proliferating the trading landscape require candidates to prove that they can follow their risk and money management rules before they get "hired."
Having others trade your money with your rules might be less effort for you, but the risk increases for you because there will be more opportunities for mistakes by your employees.
1) It makes me wonder how best to capitalize on this if ever the system were to be scaled. - I apprecitate the amount of time and effort involved in your system's journey to this point. With all due respect, and concerning moving forward... Consider as a column addition to your Time and Effort Allocation Table This One: Implementation of a compared, contrasted, selected, analyzed, understood, and tested Position Sizing Method. Brain not Brawn. The above is an action that you may want to consider as an alternative or at least as an addition to Increasing the number of operators, usually one Hell Of A Headache in and of itself. Brawn not Brain. For a brief thumbnail sketch of this vital Position Sizing topic and a link to further familiarization... https://elitetrader.com/et/threads/fixed-ratio-position-sizing-money-management.303441/#post-5012086 2) Again, the more folks that are involved, the less the amount of effort that is required on my part to make even more money, and with less risk. Are Delegation and dealing with "Help" skills you currently have? Devil's in the details.
This thread is practically almost five years ago.... So, ....are you like a multi-millionaire now from compounding and growing 1.8% every day, on average,.... Just say Yes or No -- and Officially close, seal, this thread like a coffin,