Rags to Riches in 10 or 20 Trades - Simplicity at its finest | Page 127 | Forex Factory

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Rags to Riches in 10 or 20 Trades - Simplicity at its finest

  • #2,521
  • May 10, 2018 9:30am May 10, 2018 9:30am
Quoting pipmunks
{quote} Hello hesameddin. I also trying to do this live in my account, see my signature TE. I've been successfully grow several tiny account ($5) as a test before jumping in $50. Good luck to you & everybody.
Hello pipmunks , glad to see you are doing this , im pretty sure this thing is doable , we just have to withdraw some of the account when account has grow , depends on your own how much to withdraw and how much to keep to continue with . to protect our psycology when the account has grown
  • #2,522
  • Jul 20, 2018 10:56am Jul 20, 2018 10:56am
Is there any EA for it?
  • #2,523
  • Edited Jul 29, 2018 2:31am Jul 28, 2018 3:28pm | Edited Jul 29, 2018 2:31am
Here another money management system to become a millionaire in 30 days or less based on Fibo calculations with a 100 € starting account.

As already said, easy in theory but difficult in practice.

To survive such a trading style you will need to have a system, if traded 1 to 1, where there will very few loosers in a row.

Does anybody know of a system like that? I thought about Renko's. Looks easy to trade but tried to trade it manually on a demo. Way harder than it seems.
Attached File(s)
File Type: pdf Trading Goals.pdf   36 KB | 986 downloads
  • #2,524
  • Aug 4, 2018 2:00am Aug 4, 2018 2:00am
What are the repercussions of trading larger lots on medium leverage (1/200)

If you have a reliable system that works on a small account say under 10k then will it still work on a larger account on say 100k (still with leverage) ? or do you need more pips to travel before you are in profit?
life is a reflection of what we allow ourselves to see
  • #2,525
  • Aug 4, 2018 2:10am Aug 4, 2018 2:10am
Quoting mikeeating
What are the repercussions of trading larger lots on medium leverage (1/200) If you have a reliable system that works on a small account say under 10k then will it still work on a larger account on say 100k (still with leverage) ? or do you need more pips to travel before you are in profit?
It's the same and doesn't matter the account size.
  • #2,526
  • Aug 4, 2018 3:04am Aug 4, 2018 3:04am
Quoting Merka
{quote} It's the same and doesn't matter the account size.
Thanks

How are you going with this? did you try? seems to me its mostly psychological.

I have set up 4 accounts and am going to try it
life is a reflection of what we allow ourselves to see
  • #2,527
  • Aug 4, 2018 3:11am Aug 4, 2018 3:11am
Quoting mikeeating
{quote} Thanks How are you going with this? did you try? seems to me its mostly psychological. I have set up 4 accounts and am going to try it
I didn't tried yet but I want to try it definitely.
The problem is you need a high win rate setup to apply these types of aggressive money management.
I think I found something to use and will try soon.
  • #2,528
  • Edited 9:42pm Aug 5, 2018 9:19pm | Edited 9:42pm
Quoting FerruFx
{quote} No ... you continue with 50% of the remaining.

I'd like to revisit this strategy after a long and painful enough journey:

1. The most possible way to do the 9 NWT is using 10% risk max. because with 50% risk - no matter how big your account - you will almost always have no chance to survive.

2. Even if you have R/R = 1:1 and 10% risks, some losing trades in a row will make big drawdowns which could badly affect your heart health. As I mentioned before, even if you have 90% of winning rates, a losing streak with about 10-15 losses in a row would happened (quoting Nick Radge "The Chartist"). The longer and more you trade, the more chances for you to meet this phenomenon.

3. If your best strategies applied in small time frames (in attempt to make more-achievable targets), you will even more get stopped out by the volatility a.k.a. randomness.

I dare to conclude that this 9 NWT will never ever make you rich. Theoretically yes, but technically NO - it will only make you vanished or poor at best.

Trust me, PLEASE stop trying to trade with 50% risk! Consider the scheme as a picture of blind greediness. Greed is good but not in this particular way.

Nothing personal with the originator of the idea. It was a great idea but it is very hard and painful to be done.

Thank you.
  • #2,529
  • Aug 6, 2018 2:25am Aug 6, 2018 2:25am
Quoting MTaufiq
{quote} I'd like to revisit this strategy after a long and painful enough journey: 1. The most possible way to do the 9 NWT is using 10% risk max. because with 50% risk - no matter how big your account - you will almost always have no chance to survive. 2. Even if you have R/R = 1:1 and 10% risks, some losing trades in a row will make big drawdowns which could badly affect your heart health. As I mentioned before, even if you have 90% of winning rates, a losing streak with about 10-15 losses in a row would happened (quoting Nick Radge "The Chartist")....
I'm not sure you quite get it, when ever I've come across this thread I've always thought it was about a bit of fun with 50-200 bucks so who cares? Personally, I can't see an issue with running a fun account on the side.
Ardua Ad Astra Per
  • #2,530
  • Aug 6, 2018 2:52am Aug 6, 2018 2:52am
Quoting MTaufiq
{quote} I'd like to revisit this strategy after a long and painful enough journey: 1. The most possible way to do the 9 NWT is using 10% risk max. because with 50% risk - no matter how big your account - you will almost always have no chance to survive. 2. Even if you have R/R = 1:1 and 10% risks, some losing trades in a row will make big drawdowns which could badly affect your heart health. As I mentioned before, even if you have 90% of winning rates, a losing streak with about 10-15 losses in a row would happened (quoting Nick Radge "The Chartist")....
Finally someone with a sane mind giving sane advice to idiots who love losing small account a thousand times. Brokers love idiots who follow such threads. Where the F*ck is the thread owner who has proposed such rediculous strategy and disappeared. Did he succeed? Any evidence provided or are we all just here to entertain each other in this never ending spreadsheet-driven journey of nothingness? I can 99.999% assure you, anyone who participates and motivates others to try such strategies are broker paid bitches who are already in a hell hole trying to suck others with them. Wake Up!!!
Staying in my lane...
  • #2,531
  • Aug 6, 2018 7:06pm Aug 6, 2018 7:06pm
Quoting VEEFX
{quote} Finally someone with a sane mind giving sane advice to idiots who love losing small account a thousand times. Brokers love idiots who follow such threads. Where the F*ck is the thread owner who has proposed such rediculous strategy and disappeared. Did he succeed? Any evidence provided or are we all just here to entertain each other in this never ending spreadsheet-driven journey of nothingness? I can 99.999% assure you, anyone who participates and motivates others to try such strategies are broker paid bitches who are already in a hell...
Saw your shout on Resword11s profile. Your ignore list is an exercise in self-aggrandizement. Redsword11 doesn't care and neither does anyone else. Get a life dude! You're a meaningless dweeb in the world of trading. Red would chew you up and spit you out several times a day in his heyday.
  • #2,532
  • Aug 6, 2018 11:02pm Aug 6, 2018 11:02pm
If you think you can regularly make 3x (2:1) net trades I have devised a system to make the rags to riches work. It's like making 3 net trades then having a breather with the possibility of making a few losses and not losing your entire account (actually only 5%).

https://www.forexfactory.com/showthread.php?t=557430
As the lights go by so too do the shadows move
  • #2,533
  • Aug 7, 2018 3:32am Aug 7, 2018 3:32am
Quoting Winston Reed
{quote} Saw your shout on Resword11s profile. Your ignore list is an exercise in self-aggrandizement. Redsword11 doesn't care and neither does anyone else. Get a life dude! You're a meaningless dweeb in the world of trading. Red would chew you up and spit you out several times a day in his heyday.
Looks like putting you on my ignore list has caused emotional distress. I have mentioned atleast 2 dozen reasons why I am using ignore.

If 99% believe in price action and "price is everything" as a vehicle to spread and chit-chat nonsense on forums, don't you think it is worth looking into the connection between price action traders and the pool of losers working with charts and talking shit on youtube? Continue drawing forks and lines to "analyze price" if it works for you...It's not for me.

I am simply exercising my right to chose who I want to interact with... you are simply wasting your time reading my posts so put me on ignore.....fare enough?
Staying in my lane...
  • #2,534
  • Aug 7, 2018 8:58am Aug 7, 2018 8:58am
Quoting VEEFX
{quote} Looks like putting you on my ignore list has caused emotional distress. I have mentioned atleast 2 dozen reasons why I am using ignore. If 99% believe in price action and "price is everything" as a vehicle to spread and chit-chat nonsense on forums, don't you think it is worth looking into the connection between price action traders and the pool of losers working with charts and talking shit on youtube? Continue drawing forks and lines to "analyze price" if it works for you...It's not for me. I am simply exercising my right to chose who...
I'm not afraid to address controversy so I rarely use ignore and usually reinstate those I've temporarily ignored. It's pretty obvious why you use ignore the way you do. And it's loud and clear on Red's shouts. You're full of yourself.
  • #2,535
  • Edited 11:21am Aug 7, 2018 10:54am | Edited 11:21am
Quoting Winston Reed
{quote} I'm not afraid to address controversy so I rarely use ignore and usually reinstate those I've temporarily ignored. It's pretty obvious why you use ignore the way you do. And it's loud and clear on Red's shouts. You're full of yourself.
I am using ignore like no one else and if you think i am afraid to have any discussion with anyone, you are highly mistaken. Folks are just indoctrinated with their traditional ways of thinking that simply does NOT work (and this is based on my own research and atleast I have to balls to say what works and what does not instead of kissing and following the "famed" gurus of factory).
Point me to anyone who has put their own subscribers on ignore? If you think that is arrogance on my part, you are wrong again! Following nonsense from idiots at the factory is stupidity and insanity imo.... and this is also based on my own research of ALL the system trading threads. You are simply limiting your own personal potential of thinking independently by subscribing to a thread or to some complete stranger on the factory who provides un-substantiated claims on their own profitability or success. They know sh*t but can they trade profitably and consistently for years? Where is your evidence that forks works? Look at my friend Eglestar's thread... all filled with images and no substance. But again, humans love to "belong" to something, they love to follow, they love to discuss to build a group identity. Should I continue.... I can do this all day but never ever tell me I am afraid to have a sensible discussion. Time is money for me and apparently, chit-chatting on public forums is money for most losers here at the factory.... please continue your journey as this is my last interaction with thick headed idiots who love to follow gurus who know how to "read the market". Watch me put more of such gurus to my ignore list. I am NOT done yet !

EDIT: "Red would chew you up and spit you out several times a day in his heyday".... I don't even know this dude like most of them... it was NOT an attack on him but on his thread title. Seems he has stopped trading, or made enough money selling sh*t or he is dead... whatever, I do not care. My shout out on his profile eluded to a basic fact that Price is NOT everything! Any risk based money management model based on Price alone is a fallacy because the moment you enter, the risk profile has completely altered. Risk IS NOT A Constant if it is based on Price because price is not a constant. Keep on thinking the wrong way and stay part of the 99%.
Staying in my lane...
  • #2,536
  • Aug 7, 2018 11:28am Aug 7, 2018 11:28am
This thing is possible tho. That is what thread starter said. Nothing more nothing less. There is a way. I hope I will be able to try this. I have things to do now but since thread starter dissapeared there must be someone else to try. It is only 50 USD so why not. Will not kill me nor anyone else.

My friend and others (particulary one guy I don't like much) did this. I saw it on real account. You just need to find a way. Don't just say it does not work because I have not found a way yet. It's not good idea. Just something I wanted to point out. No offense. Some thinks it does not work, some saw it on real accounts. That's it. Now you can ignore me as others just because you don't like opinions.
  • #2,537
  • Aug 7, 2018 1:42pm Aug 7, 2018 1:42pm
Quoting SilentFather
This thing is possible tho. That is what thread starter said. Nothing more nothing less. There is a way. I hope I will be able to try this. I have things to do now but since thread starter dissapeared there must be someone else to try. It is only 50 USD so why not. Will not kill me nor anyone else. My friend and others (particulary one guy I don't like much) did this. I saw it on real account. You just need to find a way. Don't just say it does not work because I have not found a way yet. It's not good idea. Just something I wanted to point...
I will give you the benefit of doubt by not calling you a broker's minion.....I have seen such motivating posts over and over in such $100 to $100K type threads. Let's run some quick stats as I am all about facts and data, black and white, true or false and nothing more.

This thread was opened on 8/27/2013. That's almost 5 years! with 2500 posts till date across approximately (say) 500 members... if each of the 500 members have tried this with a "small" $50 account that is blown atleast 10 times per member... that's $50*10*500 = $250K is LOST savings from retail traders aspiring to become RICK one day with this strategy. Right? FALSE - you are only making your broker RICH !!!
Please point me to a handful of posts with evidence of any success of recovering all the initial deposits back. This is a game of psychology that brokers just love to perpetrate throughout the forums. They thrive on losers who come here and say "It is only 50 USD so why not".

Another analogy - would you advice your family members to go to a super market and buy a $50 candy that is wrapped in gold paper? I bet no one does...we search the net for deals, look for coupons to get the best deals but when it comes to forex, everyone advocates throwing $50 or $100 "small" account like it is chump change. DO I HAVE A POINT HERE or has everyone at the factory gone completely dense ?
Hence I ask one more time.... where is the evidence of success from this thread since 2013.... anyone???????????????
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Staying in my lane...
  • #2,538
  • Aug 7, 2018 2:16pm Aug 7, 2018 2:16pm
Interesting fuss, I like it. I will try with $ 50 to make 10 trades. Tomorrow I will start registration with a broker and open an account (mine does not allow an account of $ 50).

I think VEEFX provoked me to this . By the way, he made a typo when he said he was going to become Rick one day. though maybe Rick and rich are the same thing.
Excuse me, my English is very bad...
  • #2,539
  • Aug 7, 2018 2:20pm Aug 7, 2018 2:20pm
Quoting VEEFX
{quote} I will give you the benefit of doubt by not calling you a broker's minion.....I have seen such motivating posts over and over in such $100 to $100K type threads. Let's run some quick stats as I am all about facts and data, black and white, true or false and nothing more. This thread was opened on 8/27/2013. That's almost 5 years! with 2500 posts till date across approximately (say) 500 members... if each of the 500 members have tried this with a "small" $50 account that is blown atleast 10 times per member... that's $50*10*500 = $250K is...
I understand your point. But you don't need to be a broker to make such kind of threads. If you have good system, it is possible. I saw it on a damn real account. I might get the old pictures but the guy blocked me. I said he lied before about something. That is not a point. I will do it. Later somehow. As I said it is only 50 USD.

Give me broker that have leverage 1:1000 and I will try.
  • #2,540
  • Aug 7, 2018 2:21pm Aug 7, 2018 2:21pm
Quoting RickSanchez
Interesting fuss, I like it. I will try with $ 50 to make 10 trades. Tomorrow I will start registration with a broker and open an account (mine does not allow an account of $ 50). I think VEEFX provoked me to this . By the way, he made a typo when he said he was going to become Rick one day. though maybe Rick and rich are the same thing.
Try it. It is possible. I did not this but something close to this years ago. What broker will you use? Send PM, I don't have any. // Wrong. I realised I have one so no problem there. Will do it.
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