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Attachments: $500 Account - Salary + Retirement Plan
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$500 Account - Salary + Retirement Plan

  • Post #1
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  • First Post: Edited Jan 29, 2013 3:24am Jun 25, 2009 7:34pm | Edited Jan 29, 2013 3:24am
Hope everyone is fine....

I got this file from a friend, am sure someone here did it if am not wrong I only added some calculations.

So many people ask if you can trade for a living... I know enough people here who trade for a living using trading strategies that work well for them.

With a good strategy it really won't matter how you go in, what really matters by the end of the trade is how you will get out...

I learnt the truth... Only Greens will keep you on top.. So don't let your Green turn RED.

About the worksheet
----------------------------------
- This Worksheet Calculates Trading with a Target of 20 pips daily (If u can make it that is..)
- Risk is only 2% of you Account Balance
- Yes we are compounding and taking a little can I say SALARY
NB- THIS DOES NOT CALCULATE YOUR LOSSES PERIOD.. Don't ask why or why not. Just for demostrational Purposes
----------------------------------

Hope this helps someone look ahead and learn something from people like..
Jacko, Feb2865, Peter(DIB), James16, Ray(No Brainer).... and many more Find a strategy that works with you....

P.S. By way you can actually change the PIPS on each of the Sheet and put -20 to depict that u lost 20pips it will recalculate. So yes you can make it as realistic as possible...

Regards
Attached File(s)
File Type: xls With Salary Retirement Plan 09.xls   118 KB | 564 downloads
File Type: xls With Salary Retirement Plan 09 - loss 20 pips every 4 th day.xls   99 KB | 445 downloads | Uploaded Jun 27, 2009 7:45am
Hi Smart Kenya,

I've seen somewhere in someone blog about the same compounding idea.
It is nice that you post it again here in FF.

I like compounding and simple idea like this.

I dare to say 20pips everyday sounds small but to get it consistently with limited drawdon is the big challenge!!

I would like to take this challenge and might start an EA idea for just 20pips a day consistently at least until the equity double.

Any comments from seniors??or anybody had done this in real account?
Im sorry for sounding negative but this kind of spreadsheets/calculations are for noobs to feel good about trading. They have little to do with the realyties of the trading world and provid zero insight into it
Stubbornly persistent
Trade them for real, SmartKenya, at least for a year. And see it for yourself.

We all have that kind of "great plan" in the beginning or our career.
+20pips a day is good. As you probably know by now, the key is to know when to trade and when not to, plus good MM.
if i can get 20 pips a day without fail it would only take less than a month to become millionaire
I think most traders may get the message wrongly. That's why this thread was no response at all for long time.

Dont straight see at if +20pips per day ...... If this kind of thinking, of course someone will be millionaire way to easy... of course there is risk in it.

I just interested with the challenge idea, how can with USD500 as a limit, you can make it daily net of +20. I try to play this with some EA with back data to see how many days the same mechanical system can last. It might not that accurate but still the ideas may works.

remember, key is limit to USD500, daily net gain +20.

I back tested daily started in 2nd Jan09 till 31thJan. Yes, it works to double the equity from USD500 to USD1000. I will continue with more back testing months...
20 pips a day doesn't say anything. Why people always look at the pips?
Quoting akukaya
I just interested with the challenge idea, how can with USD500 as a limit, you can make it daily net of +20. I try to play this with some EA with back data to see how many days the same mechanical system can last. It might not that accurate but still the ideas may works.

remember, key is limit to USD500, daily net gain +20.
Being that there are brokers who allow positions as small as $1 value (1 unit), the limit amount is irrelevant. If you are able to make net 20 pips a day, you'll make them on $5, $10, $50, $100, $500 or any amount above.

Now, if it's an EA for MT4 I'll assume the smallest position would be value $1000 (or 0.01 lots) = 0,10 per pip and that gains are not compounded to calculate the 2% on the equity.

As the 2% risk could be variable thus modifying the position size, let's just say that you would need:

- 20*0,10 = 250 trading days (50 weeks) to double your $500 balance with a position of 0.01 lots; stoploss at 100 pips. (1 micro-lot)

- 20*0,50 = 10; 500/10 = 50 trading days (10 weeks); stoploss at 20 pips.
(5 micro-lots)

- 20*1,00 = 20; 500/20 = 25 trading days (5 weeks); stoploss at 10 pips.
(1 mini-lot)

Of course you would have to find the optimum balance for your strategy, which will allow you to use the smallest functional stops as to the relative time frame, and evaluate the performance as to win/loss ratio and R:R so it effectively brings about the net 20 pips per day.
Quoting Xaron
20 pips a day doesn't say anything. Why people always look at the pips?

Because people get caught in the newbie flytrap.
All Signal Services and commercial EAs advertise with Pip Gains
so 3000 pips/month must be something good...

Of course you are right.
Quoting Tjpld
Because people get caught in the newbie flytrap.
All Signal Services and commercial EAs advertise with Pip Gains
so 3000 pips/month must be something good...

Of course you are right.
Hi Xaron,

20 pips is easier to mention and people can translate that to percentage or else, doesnt matter.

Understood that different lot size used will give different value for 20 pips.
and different people will have different deposit amount, different account standard or micro and leverage.

Sometimes I still think mention in pips is still relevant if the trade lotsize is the same.

But if you use martingale style with different lot sizes, pips count is non relevant.
Quoting akukaya
Hi Xaron,

20 pips is easier to mention and people can translate that to percentage or else, doesnt matter.

No they can't they'd have to know the risk involved to get those 20 Pips.
Otherwise they'll never know how much lots they'd use.
It's impossible to use this information to get a vague idea of how much you're going to make. They could as well just don't mention anything at all wouldn't make much differnece.

It's the newbie flytrap. 3000 pips/month will get every noob excited.

Only % Gain counts. Everything else is just bullshit to deceive people.
Quoting doblece
Being that there are brokers who allow positions as small as $1 value (1 unit), the limit amount is irrelevant. If you are able to make net 20 pips a day, you'll make them on $5, $10, $50, $100, $500 or any amount above.

Now, if it's an EA for MT4 I'll assume the smallest position would be value $1000 (or 0.01 lots) = 0,10 per pip and that gains are not compounded to calculate the 2% on the equity.

As the 2% risk could be variable thus modifying the position size, let's just say that you would need:

- 20*0,10 = 250 trading days (50 weeks)...
Hi Doblece,

I found many of your post is a very good explaination in mathematics. are u mathematician? Just curious

BTW, while experimenting some Ea ideas, I like to just use 1 pips= 1 dollar.
Thus this mean +20 pips is (20 dollar).

While luring into this thread, I just notice that I had created an EA that just can get consistent +20 daily with initial deposit of 500.
It can last for many months(so far till May09) without fail. Bad thing is it is without stoploss. Meaning the stoploss is 500.

I will continue to see at which months it will fail.
Quoting Zen
Trade them for real, SmartKenya, at least for a year. And see it for yourself.

We all have that kind of "great plan" in the beginning or our career.
@ Zen, I never trade PIPS I never Look @ Spreads... Along the times I have been into forex I learnt 1 thing and only 1. PROFITS.

The above spreadsheet is not supposed to entice anyone to forex but shows only the possibilities and nothing wrong should be read into it.

To all those starting forex I will not lie to you, you will loose and loose and loose 90% of the time and the reason is clear... Emotion, Greed, Fear, Being on the Wrong Side, Trading because you feel you have to, Mouse Happy, Ah yes depending so much on signal...

Frankly speak there is no indicator for that Hard Right edge of your chart, I love how Feb2865 puts it... It is a Big Auction.. as with Auction Anything Can Happen...

Anyway, I know a dozen who live on Forex here in FF, They are the greatest and their methods is simple.. I mentioned a few on the First post above so please search them and learn how they look @ the market..

If you really want to make the 20pips every day Spend most of the time Sitting on Your Hands and Be on the right side of the Overall Trend... Stop Learning from the adrenaline Time Frame anything Less Than H4... If you successed soon enough 20pips will be yours...

If you ask me how I trade... sure I use System I and System II from Feb, DIBS. and I have this Nice EA that Keeps Profits 4 Me Me Me nothing much it does but Trail My Stops.

Regards
Quoting akukaya
Hi Doblece,

I found many of your post is a very good explaination in mathematics. are u mathematician? Just curious

BTW, while experimenting some Ea ideas, I like to just use 1 pips= 1 dollar.
Thus this mean +20 pips is (20 dollar).

While luring into this thread, I just notice that I had created an EA that just can get consistent +20 daily with initial deposit of 500.
It can last for many months(so far till May09) without fail. Bad thing is it is without stoploss. Meaning the stoploss is 500.

I will continue to see at which months...
Akukaya.

Great you have been able to make an EA that can bag 20PIPs daily.. I have a friend that Trades 6pips daily and he is comfortable. He does this Onces or Twice a day and does not trade everyday.. Yes He uses Big Lots..

Failures of most EA is Backtesting... If it trade on Newbar Backtest might be ok but Tick is an Issue, just an advice but again past is past and does not govern what will be in the future

Regards
Quoting SmartKenya
@ Zen, I never trade PIPS I never Look @ Spreads... Along the times I have been into forex I learnt 1 thing and only 1. PROFITS.

The above spreadsheet is not supposed to entice anyone to forex but shows only the possibilities and nothing wrong should be read into it.

To all those starting forex I will not lie to you, you will loose and loose and loose 90% of the time and the reason is clear... Emotion, Greed, Fear, Being on the Wrong Side, Trading because you feel you have to, Mouse Happy, Ah yes depending so much on signal...

Frankly speak...
Sorry I'll pass. I'm happy and satisfied with my current system, thank you.

I don't mean to belittle you. But just check out this forum as far back as there is, you'll see a lot other offer just like yours. Like I said, we all have that kind of "great plan" in the beginning of our career.

It is one thing to say Greed is one of the reason a trader blown his account, yet it is another thing to recognize the thousand face of Greed while you're on live trade. Not to mention the other factors.

Good luck.
  • Post #17
  • Quote
  • Last Post: Jul 3, 2009 3:45pm Jul 3, 2009 3:45pm
Quoting Zen
Sorry I'll pass. I'm happy and satisfied with my current system, thank you.

I don't mean to belittle you. But just check out this forum as far back as there is, you'll see a lot other offer just like yours. Like I said, we all have that kind of "great plan" in the beginning of our career.

It is one thing to say Greed is one of the reason a trader blown his account, yet it is another thing to recognize the thousand face of Greed while you're on live trade. Not to mention the other factors.

Good luck.
Ok Zen... I will stand to say this spreadsheet is not meant to entice anyone but show possibilities nothing should be read into it. PERIOD.

Regards
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