So your brokarage account just hit 7 figures | Forex Factory

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So your brokarage account just hit 7 figures

  • #1
  • First Post: Nov 16, 2006 3:43am Nov 16, 2006 3:43am
Visualize this...



You go to the computer like any other day to see what bias the Euro and Cable have for the day, you look for upcoming news, you study the charts a little and you are ready to place your trade and watch the market work.

After a few hours, you are happy with the pip amount you made for the day and you decide no more trading for the day. But unlike other days when you get up and leave the computer, you notice something different

Your account balance says $1,005,308.57

You immediately get up and....

(finish the story here. Add anything you want, things you will buy, people you will call, protection you would set up, accounts you will open, let the sky be the limit.)

This should be fun to see what people goals and dreams are here at FF

Nothing is hard, some things just take more time and discipline.
  • #2
  • Nov 16, 2006 3:50am Nov 16, 2006 3:50am
Quoting NipthePips
Visualize this...



You go to the computer like any other day to see what bias the Euro and Cable have for the day, you look for upcoming news, you study the charts a little and you are ready to place your trade and watch the market work.

After a few hours, you are happy with the pip amount you made for the day and you decide no more trading for the day. But unlike other days when you get up and leave the computer, you notice something different

Your account balance says $1,005,308.57

You immediately get up and....

(finish the story here. Add anything you want, things you will buy, people you will call, protection you would set up, accounts you will open, let the sky be the limit.)

This should be fun to see what people goals and dreams are here at FF


AAAUUUGHH... is that all that is in the account....where did all my money go???
  • #3
  • Nov 16, 2006 3:52am Nov 16, 2006 3:52am
Quoting jacko
AAAUUUGHH... is that all that is in the account....where did all my money go???
LOL assuming you didnt already have a million dollar account
Nothing is hard, some things just take more time and discipline.
  • #4
  • Nov 16, 2006 3:56am Nov 16, 2006 3:56am
what can i say....

First things first pay clear the mortgage and leave work

M$M
  • #5
  • Nov 16, 2006 4:34am Nov 16, 2006 4:34am
I look to my system, I look for the next indicated trade. I determine my stop loss location, I calculate my 3% risk. I place my next trade, and exit when my system says I should.

Same as any other day.

Dave
  • #6
  • Nov 16, 2006 4:55am Nov 16, 2006 4:55am
it happened with me but i gave the money back to my broker
  • #7
  • Nov 16, 2006 5:05am Nov 16, 2006 5:05am
Place large trades on multiple currencies with strong correlation and using high leverage so that I can double my account in the next five minutes...
  • #8
  • Nov 16, 2006 5:30am Nov 16, 2006 5:30am
And then you remember it's actually taiwan dollars so your account's worth $30,000
  • #9
  • Nov 16, 2006 5:38am Nov 16, 2006 5:38am
Been there...!!! Unfortunately it was a demo account...!!!

  • #10
  • Nov 16, 2006 11:17am Nov 16, 2006 11:17am
Tuition, family, charity, cars (at least 10), low-risk / low-yield investments (to preserve capital), and with the money left over start again.
  • #11
  • Nov 16, 2006 1:33pm Nov 16, 2006 1:33pm
then i woke up..and realized i missed the EURO SESSION!..damn it!
  • #12
  • Nov 16, 2006 1:38pm Nov 16, 2006 1:38pm
I would get lipo suction cause im fat.....lol........just kidding
  • #13
  • Nov 16, 2006 1:44pm Nov 16, 2006 1:44pm
Quoting tar
it happened with me but i gave the money back to my broker
Oops! That's really painful.
  • #14
  • Nov 16, 2006 1:49pm Nov 16, 2006 1:49pm
Why would anyone spend the money in their trading account? That money is the golden goose; it is a money making machine. Would you pluck the goose? Would you remove parts from the machine? Heck no! I'd do whatever it took to protect that account. If I had $1,000,000+ in my account, I would trade very conservatively and shoot for 1 or 2 percent average monthly returns. Do the math: that's $120K to $240K per year in income WITHOUT touching the $1M.

Spend my account? That would be like asking Scrooge McDuck to give up even one coin in his money bin!
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  • #15
  • Nov 16, 2006 1:49pm Nov 16, 2006 1:49pm
Quoting davecrom01
I look to my system, I look for the next indicated trade. I determine my stop loss location, I calculate my 3% risk. I place my next trade, and exit when my system says I should.

Same as any other day.

Dave
Exactly. I couldn't have said it better myself.
  • #16
  • Nov 16, 2006 2:28pm Nov 16, 2006 2:28pm
I'd split it up among a few accounts @ diff brokers.

Quoting diallist
Why would anyone spend the money in their trading account? That money is the golden goose; it is a money making machine. Would you pluck the goose? Would you remove parts from the machine? Heck no! I'd do whatever it took to protect that account. If I had $1,000,000+ in my account, I would trade very conservatively and shoot for 1 or 2 percent average monthly returns. Do the math: that's $120K to $240K per year in income WITHOUT touching the $1M.

Spend my account? That would be like asking Scrooge McDuck to give up even one coin in his money bin!
  • #17
  • Nov 16, 2006 2:45pm Nov 16, 2006 2:45pm
I'll withdraw the $hit and evade the country, to the caribbean baby.
ciao
Trading is a long and a short story.
  • #18
  • Nov 16, 2006 5:12pm Nov 16, 2006 5:12pm
Withdraw $1m and build a nice little bond ladder. Start all over again with the $5k...
  • #19
  • Nov 16, 2006 5:16pm Nov 16, 2006 5:16pm
Jump up and down when I realize that each pip is now worth $2,000! A 10 pip day is a $20,000 day! Now the plan would be to "live" off of one weeks profits and allow the other three to compound the account. I'd think I could live well with a range of $20,000 - $100,000 a month?!
  • #20
  • Nov 16, 2006 5:16pm Nov 16, 2006 5:16pm
People are different...It doesn't make any sense to me to accumulate money forever and wanting more and more...What if I die before I enjoyed it, before I can make other people happy with it, or before I can use it to make smile some poor family somewhere on this planet...
I will use it to make other people happy, and this will be enough to make me happy. I don't need a dozen of cars (I would be scared to be stolen) or giant plasma (it would make me stuck in front of it all day along)...What goes around, comes around. I do believe in that.
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