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So your brokarage account just hit 7 figures

  • #41
  • Nov 17, 2006 6:17am Nov 17, 2006 6:17am
Money make money

The more you have the more you will make

Money give you peace, fear goes away, your trades get more and more precise, emotions are not involved. You can afford to let trades open longer, It becomes like a mechanical process
  • #42
  • Nov 17, 2006 6:18am Nov 17, 2006 6:18am
I'd just keep doing the "work" that I enjoy - trading for a living - get to $1m a year and then keep lowering both risk and leverage to maintain that level.

J.
  • #43
  • Nov 17, 2006 6:42am Nov 17, 2006 6:42am
$1,000,000 that's about £530,000 - Hmm not as much as I thought.

I'd withdraw £400,000 to buy myself an apartment/pay legal fees etc. and then keep trading with the remaining £130,000 to provide myself with a yearly income.
  • #44
  • Nov 17, 2006 7:21am Nov 17, 2006 7:21am
I would crack a few beers and watch Ohio State destroy Michigan! Go Bucks!
Life is too short to have anything but delusional notions about yourself.
  • #45
  • Nov 17, 2006 9:10am Nov 17, 2006 9:10am
These are great replies everyone. They are even bringing smiles to my face.




Ill probably diversify my funds to several brokers and bring them all up to a certain point where 1 pip a day will make me happy...thats what I think ill immediately do
Nothing is hard, some things just take more time and discipline.
  • #46
  • Nov 17, 2006 11:18am Nov 17, 2006 11:18am
Quoting hoss
I would crack a few beers and watch Ohio State destroy Michigan! Go Bucks!
lol, heck yeahhh, GO BUCKS!!!
Egyptian and proud of it!
  • #47
  • Nov 17, 2006 11:20am Nov 17, 2006 11:20am
I'd have to give half to charities -- LOL. I'd give some but life would be vastly filled with different opportunities.

Just my 2 pips.


Ronny C.
  • #48
  • Nov 17, 2006 1:07pm Nov 17, 2006 1:07pm
Quoting trucco
Money make money

The more you have the more you will make

Money give you peace, fear goes away, your trades get more and more precise, emotions are not involved. You can afford to let trades open longer, It becomes like a mechanical process
Add to this... Tell absolutely no one...or your phone will be ringing with relatives that you had no idea even existed.
  • #49
  • Nov 17, 2006 2:23pm Nov 17, 2006 2:23pm
I'd buy me a brand new Hummer, Call an Escort Service for a night on the town, and then keep my freezer full of Pizzas for 20 years.
I'm only a bird in a gilded cage
  • #50
  • Nov 17, 2006 2:30pm Nov 17, 2006 2:30pm
Quote
So your brokarage account just hit 7 figures

Go for 8 figures!
  • #51
  • Nov 18, 2006 12:16am Nov 18, 2006 12:16am
Ok lets asume we started trading with $50,000 and in a period of time you change that into $1,000,000. Then why jump off and stop there? Why only now we want to risk 1%? What do we have to change the system? or MM? and now, what could stop us from changing $1,000,000 into $100,000,000?

i would withdraw 50% and the other half, keep rolling.

I will start worrying about the world...and everything in it. But that is just me.


TNT
I Love Forex Factory!
  • #52
  • Nov 18, 2006 12:24am Nov 18, 2006 12:24am
in todays society 1 million isnt THAT much money. (At least for western countries) So spending the money would be out of the question. It would go in one second and you would have nothing left.

You cannot retire on a million, if you are young. It doesn't work that way.

I would bank 1/4 of it. Give 1/4 of it to a professional trader, and trade the rest myself. There is a reason.

Can you see it?
  • #53
  • Nov 18, 2006 1:09am Nov 18, 2006 1:09am
Quoting Takisd
in todays society 1 million isnt THAT much money. (At least for western countries) So spending the money would be out of the question. It would go in one second and you would have nothing left.

You cannot retire on a million, if you are young. It doesn't work that way.

I would bank 1/4 of it. Give 1/4 of it to a professional trader, and trade the rest myself. There is a reason.

Can you see it?

I agree,

But some familys live off of 18K a year...having a million bucks (if they kept a similar lifestyle) would be the world.

But yea, Some people might keep on investing but some people may want to celebrate a little
Nothing is hard, some things just take more time and discipline.
  • #54
  • Nov 18, 2006 3:47am Nov 18, 2006 3:47am
Quoting WHTenn
Add to this... Tell absolutely no one...or your phone will be ringing with relatives that you had no idea even existed.
Im not taking about my case, just a projection
  • #55
  • Nov 18, 2006 11:13am Nov 18, 2006 11:13am
What concerns me about this thread is that I have not read a single post from anybody who has already gone thru this experience-making a million bucks. One of the things that attracted me to this forex business, and keeps me hooked, is the potential of making big money. But reading these posts, in which we all write about hypothetical situations, it makes me wonder...are we fx traders living in denial...chasing a dream that won't be fulfilled?
  • #56
  • Nov 18, 2006 11:52am Nov 18, 2006 11:52am
Quoting alcastro
What concerns me about this thread is that I have not read a single post from anybody who has already gone thru this experience-making a million bucks. One of the things that attracted me to this forex business, and keeps me hooked, is the potential of making big money. But reading these posts, in which we all write about hypothetical situations, it makes me wonder...are we fx traders living in denial...chasing a dream that won't be fulfilled?
It takes time man.
Unless you start with a 50.000/100.000 $ account also if you are the best trader, you need a long time.

1.000.000 / 230 days let say : 4400 $ of netto earn a day...

with 230 days winning on a row..

to make 4.400 a day you must make 50 pips a day each of 88 $ or 100 pips a day each of 44$. So basically you are playing from 5 to 10 lots every trade, and every trade finished with +50 or +100 every day..

I think is quite impossible, UNLESS, every month you invest more, but then you miust also consider that you could LOOSE MORE , and you could burn the gains of 2 month in 1 month only etc..

Who says here that makes 10.000 $ a day must be a lucky rich gambler, or a lier

I saw people that say that they make 20.000 $ a day....
I believe if you say, 'I make 1000 pips a month', thats possible,but if you say 'I make 200.000 $ a month with trading' you must be already rich and have no fear of loosing money, and be the most perfect trader in the world.

Lets go back to reality
  • #57
  • Nov 18, 2006 2:02pm Nov 18, 2006 2:02pm
Diversify ( futures, indexes, commodities, stock, bonds )
Then buy a bunch of file servers,
hire a few really good programmers,
open a forum with a bunch of partners to diversify expenses..

Call it factory forex or some such.

Oops already been done by quess who ?????..
William
Warning, lack of trading is dangerous to your survival......
  • #58
  • Nov 18, 2006 2:49pm Nov 18, 2006 2:49pm
Quoting alcastro
What concerns me about this thread is that I have not read a single post from anybody who has already gone thru this experience-making a million bucks. One of the things that attracted me to this forex business, and keeps me hooked, is the potential of making big money. But reading these posts, in which we all write about hypothetical situations, it makes me wonder...are we fx traders living in denial...chasing a dream that won't be fulfilled?
I think that what it proves is that those who succeed, and I KNOW that they exist because I have met some, is that once they succeed they have nothing to do with FF and in fact avoid us peons.

It is true that the smaller the account size you start with the less likely you are to succeed. As one broker explained to me, from their experience accounts of less than $5000 have a very low probability of success, at least in their experience.
  • #59
  • Nov 19, 2006 10:00am Nov 19, 2006 10:00am
In general it is not necessary to keep a large amount of funds in your brokerage account. I never keep more than 150k because its just unsafe and not necessary. Most brokers will give you a line of credit if you have the funds deposited at a FDIC insured bank account.

Making a million dollars in this market is possible with the right tools. You need a quality mentor, broker, patience, and a lot of guts.
  • #60
  • Nov 19, 2006 9:19pm Nov 19, 2006 9:19pm
i would take half of the money out. pay of my house, my car and all of my bills for one year and trade the rest to get my account back up to a million and then do the same thing over again. and again and again and again.
Just think positive and all the pips will come your way.
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