You only need 10 trades to turn 1.000 to 1.000.000... | Forex Factory

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You only need 10 trades to turn 1.000 to 1.000.000...

  • #1
  • First Post: Dec 9, 2020 2:56am Dec 9, 2020 2:56am
... but please don't try to do it.
  • #2
  • Dec 12, 2020 4:01am Dec 12, 2020 4:01am
Quoting Paintomaker
... but please don't try to do it.
Growth factor of 1000 after 10 trades works out as a geometric progression factor of 1.99526... per trade.
That's a curious numerological factoid!

Why advice against it? It should be taken as an exhortation to being selective about picking trades. It's also possible, in principle.
It would require serious skills, rare psychological traits of discipline and emotional balance and also a great deal of luck.
Practitioner of the cryptic trading arts
  • #3
  • Dec 12, 2020 6:12am Dec 12, 2020 6:12am
Quoting Endoephemera
{quote} Growth factor of 1000 after 10 trades works out as a geometric progression factor of 1.99526... per trade. That's a curious numerological factoid! Why advice against it? It should be taken as an exhortation to being selective about picking trades. It's also possible, in principle. It would require serious skills, rare psychological traits of discipline and emotional balance and also a great deal of luck.
Only in theory, but not in practice.

I bet if a broker offered a Million dollars for any of their clients to attempt that feat, they would make a lot of money.

As an example, I was in a Forex trading competition this year with a $10K prize offer to the trader who could achieve the highest yearly return. So hundreds joined in at attempt to win first prize. By the end of the year, only 8 traders remained in profit let alone in the race to collect the $10K. The reason was many traders thought they would be smart by just trading a $500 account. If they could achieve $5000 by the end of the year, they would win with 1000% return, but most blew their funds trying.

The losses and trading fees by these traders far out weighted the prizes actually offered - it seems when you dangle money in front of traders, they do stupid things.

Trying to hit a million with just 10 trades, traders are too stupid
Trading thin liquidity at the boundary of the charts
  • #4
  • Edited 8:34am Dec 12, 2020 8:19am | Edited 8:34am
Quoting RickM
{quote} Only in theory, but not in practice. I bet if a broker offered a Million dollars for any of their clients to attempt that feat, they would make a lot of money. As an example, I was in a Forex trading competition this year with a $10K prize offer to the trader who could achieve the highest yearly return. So hundreds joined in at attempt to win first prize. By the end of the year, only 8 traders remained in profit let alone in the race to collect the $10K. The reason was many traders thought they would be smart by just trading a $500 account....
Accentuating the reward incentive, [and the competition aspect] as in your competition story, arguably leads to even worse results than would otherwise be.

I'm thinking that people naturally associate making more money with working more, which, in trading, is mistakenly translated into making more operations trying to catch more pips, or taking higher risks, worse entries, looser stops. It also increases the emotional stress which also worsens performance in many ways.

On the other hand, that you could make x1000 fold in 10 ops is a realization and a goal that should lead to being more selective and therefore, profitable. Granted it is something that comes with a powerful set of challenges and calls for extraordinary skills, discipline and emotional balance. It could entail sitting for weeks in front of the charts, day after day watching without doing anything, or it could take years if one played the daily.
Practitioner of the cryptic trading arts
  • #5
  • Dec 12, 2020 8:57am Dec 12, 2020 8:57am
Possible both in theory and practice. I throw a question to everyone- what is the highest number of pips you can make on the lowest risk? This will determine whether you can do the above or even better.

Let's see,

Can I set a 200pips target on just 20 pips risk? Now someone said it will take extraordinary skill, I bet this is what they meant

Now say you're that good and you can do it you'd need what? $10 and 5 trades to make it to $1000,000 (rounded up)

Lot sizes will increase with each win

But guess what?

Its only possible if you can win those 5 or 10 trades consecutively

The guy above was almost right you won't need a great deal of luck, that will defeat the purpose of extraordinary skill.

You'll be needing luck at the right time and never in a random way.
  • #6
  • Jan 5, 2021 8:37am Jan 5, 2021 8:37am
Frankly speaking, such ideas annoy me because they can negatively affect newcomers to the market who have not yet fully understood the market and its specifics, and such people can really believe that this is reality. I do not understand why it is necessary to act in this way, because this is an outright lie that does not deserve attention at all. Please, dear traders, do not believe this, because if everything could not be so difficult - would there really be such a percentage of traders who do not earn money on the market??? Of course not. You have to study the market and think about every decision in the market, you have to be aware of the risks and that your money must constantly work for you.
  • #7
  • Jan 6, 2021 12:57am Jan 6, 2021 12:57am
I agree that this is most likely possible in theory, because in practice you can never be sure that everything will be all right. Because the market can always present some surprises and some things that you could not foresee. And here you need an absolutely perfect job with amazing results. Of course, there are times when you see even more orders in a row. But in this case, you most likely do not risk such a large percentage of the capital. So yes, you shouldn't dream that everything will be so easy and simple. And that you can handle it without any problems. It is certainly not that simple and not so realistic. You still need to move around the market more calmly in order to stay here for a long time.
  • #8
  • Jan 6, 2021 1:08am Jan 6, 2021 1:08am
Don't forget about commissions, swaps and spreads
Observer effect
  • #9
  • Jan 6, 2021 10:51am Jan 6, 2021 10:51am
It is possible.... to achieve this you need everything luck, patience, timing and guts to go all in when account grows big......... I am playing this type of concept on my casino account for last 1 year.... the result i converted 2k-50k two times in less than a month time period as well multiple 500-5k, 500-3k etc... all because of over leveraging and alot of luck....... I have blew around 50-60 micro accounts (micro means not having more than 1000$)..... thats how i play start small over leverage take the initial investment out wait for the account to either blow or go to the roof............ if its hard for anyone to believe can check images i posted on my profile........
Extreme gut feeling trader
  • #10
  • Last Post: Jan 6, 2021 10:58am Jan 6, 2021 10:58am
OKAY,THAN TELL ME HOW TO TURN 1000 TO 1 MILLION IN 10 TRADES??
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