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double or nothing...

  • #1
  • First Post: Aug 22, 2019 4:04am Aug 22, 2019 4:04am
let us discuss this crazy Idea ....

what if we consider our fores trading like playing in casino...

i want to double 100$ to 200$ in :
1- 8 Orders so I have to got 10% profit in each order , if this done the balance will increase as follows :
100-110-121-133-146-161-177-195-214 ....

the second question the target pips :
if the target 10 pips lot size is 0.1 and the SL is 100 pips (at step out 100% ) and 80pips (at step out 20%)
so we need strategy with take profit target 10 pips and Stop lose 80 pips and to have 8 continuous wining trade


2- to be more fixable : to double the 100$ in 15 orders we need to get 5% profit in each trade so the balance will increase as follows :
105-110-116-122-128-134-141-148-155-163-171-180-189-198-208
the target of each trade is 10 pips so lot size is 0.05 SL is 200 Pips ..........
so we need strategy with take profit target 10 pips and Stop lose 200 pips and to have 15 continuous wining trade


any suggestions about trading strategy ?
  • #2
  • Aug 22, 2019 4:31am Aug 22, 2019 4:31am
Hi

Have you tested this is a demo account or a simulator? Thats probably the best way to find out the results

Plus the casino always wins (House wins)

But I do like the idea you mentioned
  • #3
  • Aug 23, 2019 8:43am Aug 23, 2019 8:43am
Quoting Waddah
let us discuss this crazy Idea .... what if we consider our fores trading like playing in casino... i want to double 100$ to 200$ in : 1- 8 Orders so I have to got 10% profit in each order , if this done the balance will increase as follows : 100-110-121-133-146-161-177-195-214 .... the second question the target pips : if the target 10 pips lot size is 0.1 and the SL is 100 pips (at step out 100% ) and 80pips (at step out 20%) so we need strategy with take profit target 10 pips and Stop lose 80 pips and to have 8 continuous wining trade 2- to be...
If you are using higher SL than your TP then surely, it’s a bullshit! And surely you’ll suffer in your trading!
  • #4
  • Aug 27, 2019 4:26pm Aug 27, 2019 4:26pm
Quoting Waddah
any suggestions about trading strategy ?
The second plan seems good to me. The only question is if you can gain 10 pips each trade. You can use 'Gap trading' along with other strategies you have in mind. BTW, I was actually going to share an even crazier idea. I am still a trainee so expect some bullsh*t, but please do share your thoughts.
Here is the plan -

Setup: About 11k USD investment or 10 Lots. Leverage 100. Per pip value 100 usd. ECN Account with about 15 - 20 percent SOL.
Trading Target: Full 10 Lot per trade. 2.5 Pips per trade. 5 pips per day. About 110 pips per month. 10 lot per trade is super crazy idea, but about 2 pips per trade doesn't seem hard to me.
Profit Target: About double in 1.5 months.
Stragety: Price action, Gap, suggest some..

Now even if the calculations are theoretically right, I must say that it's an ambitious, stubborn, and a sloppy idea as I haven't planned to use the SL, didn't implement money management and feeling ''Greed'' and ''Ego'' inside me while thinking of this Plan. So I know I need to moderate the plan and I want your ideas on how to do that. Also, I would be grateful If you share any powerful trading strategies to gain small Pips.
Thanks.
  • #5
  • Aug 28, 2019 3:43am Aug 28, 2019 3:43am
thanks for your nice post , good detail with more information.
  • #6
  • May 26, 2020 12:54pm May 26, 2020 12:54pm
Competent planning is what allows a player to become a qualified trader who understands the laws of the market and strives to ensure that each trading session ends effectively and allows you to look at the market from a new perspective. And of course the calculations in our business are key, because it allows you to determine how much you need to allocate in each case, it allows you to identify and qualify the risks so that you do not find yourself in some unexpected situation and do not lose everything you have. In fact, I think that every trader who has experience from six months will understand what I am talking about. Because surprises can happen here, and it is your direct duty to foresee them to the maximum and prepare accordingly.
  • #7
  • Oct 28, 2020 8:35am Oct 28, 2020 8:35am
Quoting Flight-87
{quote} The second plan seems good to me. The only question is if you can gain 10 pips each trade. You can use 'Gap trading' along with other strategies you have in mind. BTW, I was actually going to share an even crazier idea. I am still a trainee so expect some bullsh*t, but please do share your thoughts. Here is the plan - Setup: About 11k USD investment or 10 Lots. Leverage 100. Per pip value 100 usd. ECN Account with about 15 - 20 percent SOL. Trading Target: Full 10 Lot per trade. 2.5 Pips per trade. 5 pips per day. About 110 pips per month....
Ambition is good. However, 10 lot with 100 leverage and without SL is kind of risky. You also did not mention risk/reward ratio which is important.
  • #8
  • Oct 28, 2020 9:45am Oct 28, 2020 9:45am
Ambition is a great thing, but I think it also needs to be tempered by at least some caution.
  • #9
  • Oct 28, 2020 10:58am Oct 28, 2020 10:58am
Making money is not an easy task. You have to make a good plan to make profit from this market. Without a proper plan, you can not survive in this market
  • #10
  • Nov 5, 2020 10:57pm Nov 5, 2020 10:57pm
Quoting DexterDuncan
Making money is not an easy task. You have to make a good plan to make profit from this market. Without a proper plan, you can not survive in this market
You are right. Making money is especially hard in the Finance sector. Furthermore, you need to have some capital to even start thinking about it.
  • #11
  • Nov 12, 2020 12:01pm Nov 12, 2020 12:01pm
Every trader should make a good plan to make a good trading career. Because this is so risky platform.
  • #12
  • Nov 23, 2020 7:39am Nov 23, 2020 7:39am
People get crazy when it comes to forex trading. 24 hours market is moving doesn't mean it's offering you easy money. Unrealistic expectation leads to bad habit for which a trader suffer a lot.
  • #13
  • Nov 27, 2020 2:20am Nov 27, 2020 2:20am
You can test it on a demo and then see if this is a good idea or not.
  • #14
  • Dec 11, 2020 1:13pm Dec 11, 2020 1:13pm
Quoting MarcoDresner
People get crazy when it comes to forex trading. 24 hours market is moving doesn't mean it's offering you easy money. Unrealistic expectation leads to bad habit for which a trader suffer a lot.
You are right! "Forex market is never closed". The way this catchphrase is sold is as if you'd be making profit 24 hours a day.
  • #15
  • Dec 16, 2020 7:17pm Dec 16, 2020 7:17pm
If you follow the compounding trading strategy, it is possible to double the investment. But here you have to maintain discipline.
  • #16
  • Last Post: Dec 17, 2020 12:59am Dec 17, 2020 12:59am
If anyone wants to make double or nothing, he should go to casino. That's the better place for doing this sort of things. Forex trading is not gambling.
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