So, I mentioned that I can pull off a $2 profit daily from a $100 trading capital for 20 days, totaling $40 in profit. Don Pedro Dinero thinks that's not doable.
I threw out a $50 bet between us, and he agreed to it.
I’ll be sharing all the proof of my earnings right here. If I can’t show it, then I lose the bet and will pay him $50. If I manage to hit that $2 profit each day for 20 days, he’ll send me $50.
Don Pedro Dinero acknowledged this in another thread, but it’d be great if he could confirm his acceptance here too.
I’m trading on a platform that runs on GMT +8. I wanted to switch it to GMT, but that only changes the candle stick display, not the trading PnL stats. So, trading kicks off at 4 PM in this forum's time.
Just a heads up: trading is super risky. It's as risky as gambling, just look at the stats on traders and gamblers losing money. Please don’t try to copy me since I have my own strategies and insights that might not be apparent if I win. Just keep in mind that I might lose too, but we're just in it for some fun.
Only trade with money you can afford to lose.
I saw your challenge on his topic in the Meta board.
I like you self-belief by the way it shows that it is backed up by experience.
Do you think you should make this thread self-moderated?
Good luck to you both.
Is this something someone should doubt each others and has he traded with you before to know if you are capable or not?
To me since is not something he is seeing you physically I don't think it's wise to go on blind bet, even though you would have to post screenshots I doesn't make any sense except its a live trade where everyone would have to watch how it goes. But however, can more people join on this bet if they feels like joining?
This is going to be interesting. Are you hoping to trade on the 5 minute chart or something? Also, does this trading include leverage or only spot? With leverage it might be possible. As a trader myself, making 2% a day for 20 days without a single loss is far, far harder than making the 40% in 20 days.
As somebody that's been trading for quite some time (and losing some time ), this is an interesting experiment.
TBH, I'm on a side where consistent profits are almost impossible, but thinking of it, and looking how volatile the crypto market is, I guess making 2$ profit on a daily basis is somewhat attainable... provided that you are EXPERT enough when it comes to technical analysis.
Anyhow, I'll be like one of those users out there that will be observing this thread. Good luck to both of you, and I hope with this thread, I will gain more knowledge when it comes to trading.
Well this is interesting indeed! I do believe it is possible but you will need to be online all day and always try to time it correctly. A gain of 2$ on a 100$ budget is 2% so with 1 good trade, you can reach that goal. Keep us posted as we might be able to learn something from this experiment.
I am not saying it is not possible. What is not possible is to get a daily return of 2%, let alone 5%, for a day trader whose main activity is trading. And what I am saying is that the larger the time sample we take the more unlikely it is.
But I'm willing to take the bet because I think it's unlikely you'll get it. And also because it can be fun, as you say.
1. I would prefer to bet in bitcoin. Are you ok with 0.0005 BTC?
2. In the bet you have to set a daily minimum number of trades.
3. You can't use stablecoins or stop trading if you get $40 before 20 days, you have to act like a normal day trader who keeps making trades.
Maybe I'm leaving something out but it will come up. I see you as anxious to start, LMAO.
Daily minimum trades can just be 1 or more. I can not set it but I will show all the positions that I closed which will contain enough information about the trade.
I agree with other conditions stated.
I have sent $100 to the perpetual future account.
Isn't should be compound interest?
2% per day means it will be $148.59 in the day 20.
True, making 40% in 20 days is easy since if we lucky, then we can make it.
But 2% daily is hard, even currently is bull season, my trading portfolio is currently at floating loss.
I'm still waiting my altcoins to pump and I will sell it when it reach 10% profit from the price I bought.
From my experience, it looks like Don will win, but Oshosondy is active in this section and has balls to make a challenge.
If you carefully re-read the terms of the wager, you will not find any mention of 2% per day. To win, the OP will have to earn a daily profit of 2 bucks for 20 days. Accordingly, in 20 days he should receive a profit of $40, which will amount to 40% of his initial capital.
But I would like to say that you should never take extra risk while making profit, because you will make daily profit, never to mention trading is definitely risky. So you don't get too greedy because if you get two dollars, you stop training like today and start it again the next day.
Maybe you can take one or two trades to make money to hedge the bet but it would be totally risky to take more than one trade. So if you use the strategy you can definitely be successful, earning $100 to $2 profit per day is within control, I can say for sure that you will be successful.
That would make sense for someone who trades with a small amount of capital, to reinvest what he earns to continue to make a return, but in this case we count simple interest. For my part I don't mind giving Oshosondy that small advantage because I think it's much more unlikely that he will make the profit he expects.
This does not match your assertion that it is easy to make 2-5% per day.
In any case, the bet is on. Good luck to you.
I thought that I'd only see something like this in the gambling section through sports but we've got some bets in how profitable one can.
Good luck and this is already a quota for you within the day. It's interesting to see that someone can prove that it's possible to earn that in a day but this is still going to be long.
This is interesting and i like the way two of you agree in taking up the challenge, this is going to be a lesson for us that are yet to grow more thicker skin on trading, but at the end, you are making it more of fun, educative and informative on what is possible and not possible with trading, from your last words, you render a warning note for people not to do the same as you do, except they agree to take the same risk on trading and loss, am eager to see how this will go by far and the end as well, because it will be a motivation for some who couldn't defend their guts on trading.
You have not been active on trading discussion is my guess. If you are active there, you would have known how I post there. If possible you can search people that post 'use the amount of money that you can afford to lose to trade' you will see me among the first 5 people. I guess you only come there recently and start making conclusions.
You can make money from trading. But use the amount of money that you can afford to lose let us pass the message to people that trading is risky just like gambling but not gambling. But if someone is making it in trading, he will become pro and have his own strategy.
Day 2:
No, but I know the rubbish you were saying in the other thread. In any case, you seem emboldened. Congratulations on the first two days in profit. If you win the bet you will get 90% profitability in 20 days (if you take into account the trading profit and the bet profit).
I dont see in any way this is impossible. I know of someone who can make a minimum of 5$ a day from trading he is not greedy just sticking to it. However, you are certain of what you are doing so good luck to you.
Also, I think Don Pedro Dinero is relying on the fact that humans are bound to limitations or impromptu failures. You may be unlucky one day and he wins the bet. I still don't know how you tend to pull this off.
28 days to go. I am watching.