On Monday January 20th I kicked off my funded challenge with Dominion Markets, trading a $12,500 demo account. I’m targeting a 10% profit while maintaining strict risk parameters – no more than 6% drawdown on the original balance and a maximum 4% daily loss from previous day’s close.
After my first week, I’ve achieved a 1.74% account growth, with some valuable insights emerging:
- Gold trades dominated my success with a 73.68% win rate
- Trading volume concentrated 82% in Gold vs GBP/JPY
- Overall win rate across all trades: 59.26%
- Account value increased to $12,717.22
Trade Analysis In-Depth
My most profitable setups came from gold trades following clear 30-minute candle closes with strong key level rejections. I discovered my edge lies in gold trading – its clean price action and predictable moves align perfectly with my strategy.
A significant lesson emerged when I nearly blew my account by removing a stop loss. That experience reinforced my commitment to strict risk management. I’ve since refined my approach, targeting 0.5% risk per trade rather than my initial 1%.
Magic Keys: A Game-Changing Tool
Implementing Magic Keys transformed my trade management. While there was an initial learning curve with position sizing, it’s now streamlined my entries and exits. The automatic lot size calculation feature alone has eliminated previous sizing errors.
Looking Ahead: Refined Strategy
I’m narrowing my focus exclusively to Gold trading, given the stark performance difference:
- Gold trades: +$308.65 profit
- GBP/JPY trades: -$42.00 loss
My playbook is developing around specific setups I’ve starred in my journal – particularly those clean 30-minute confirmations with key level rejections. These patterns consistently deliver the best risk-reward opportunities.
I’ve also discovered the power of C-Trader’s analysis tools, which provide detailed insights into my trading performance. This data will be essential for ongoing strategy refinement.
As Week 2 approaches, I’m entering with clearer conviction in my approach. The challenge isn’t just about passing – it’s about developing sustainable trading habits that will serve me well managing larger capital.
For fellow traders on similar journeys, I can’t emphasize enough the value of proper trade management tools like Magic Keys and having a rock solid trading plan in place. It’s transformed my execution precision, helped eliminate costly errors and given me more clarity when watching price.
Stay tuned for next week’s update as I continue pushing toward that 10% target. Let’s get funded!