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Attachments: 100$ -->100,000$ (period: 12 months)
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100$ -->100,000$ (period: 12 months)

  • #101
  • Jul 13, 2007 2:24am Jul 13, 2007 2:24am
my 2cents on achieving possible uberwealth with relatively safe Money Management.

1.) Risk 5% of your account / day
2.) Consider that amount as a separate account (even though it's not in reality)
3.) Apply 50% risk / trade.
4.) Perform as many high profit % trades as you can find (for compounding effect to take place).
5.) Hope to score the jackpot

100$ acct --> 5$ risk
10 trades, 1:1 profit factor, 100% win
5 * 1.5^10 => +288$

next 10 days you lose 5%
388$ --> 232$

but then you make a home run again
232$ acct --> 11.6$ risk
11.6 * 1.5^10 => 668

Repeat for a few hundred days & you should reach either insanity or the $100k
  • #102
  • Jul 13, 2007 2:33am Jul 13, 2007 2:33am
Quoting W-M
my first position
EUR/USD sell @ 1.3770 Sl: 1.3784 tp :1.3755

Going short on a market that is bullish on all fronts might not be the way you want to go. Especially if you risk much0 % of your account you'd want to stay on the side of the trend so your trades get a higher % of success.
  • #103
  • Jul 13, 2007 2:47am Jul 13, 2007 2:47am
Quoting W-M
my first position
EUR/USD sell @ 1.3770 Sl: 1.3784 tp :1.3755
Touch Sl -14 pips (0.01 lot)
  • #104
  • Jul 13, 2007 2:51am Jul 13, 2007 2:51am
Having studied the markets for 12 months now I can confirm that this is more than possible. Compounding your account and a good trading system, wil enable you to take money from the markets every day.

I have worked on a system of trading the Mini Dow that will double your money roughly every month. So the power of numbers will give you

100
200
400
800
1600
3200
6400
12800
25600
51200
10240 11 months

Ha ha you should do it in 11 months not twelve, better take a well earned rest on the 12th month. Ok this is done doing one trade a day.

I will begin posting my trades next month, my attempt is to take 2500 as my starting account and go from there.

Good luck

Smalldog2
  • #105
  • Jul 13, 2007 3:01am Jul 13, 2007 3:01am
Quoting FrankS
Going short on a market that is bullish on all fronts might not be the way you want to go. Especially if you risk much0 % of your account you'd want to stay on the side of the trend so your trades get a higher % of success.
yes you are wright market is bullish but I had a good signals and i trust it my position saw +6 pips and i was posting at FF i must closed it before +12 pip Tp attend of conditions but i losed time and then pips never mind

thanks alot for your post and your attention
  • #106
  • Jul 13, 2007 3:14am Jul 13, 2007 3:14am
I believe you will do it easily as long as your disciplined and stick to your trading plan
  • #107
  • Jul 13, 2007 3:45am Jul 13, 2007 3:45am
Since you posted your first signal, Im curious to know what system/indicators/price action your using. Also, which time frame are you trading on?
  • #108
  • Jul 13, 2007 4:07am Jul 13, 2007 4:07am
Quoting Xenjin
Since you posted your first signal, Im curious to know what system/indicators/price action your using. Also, which time frame are you trading on?
Dear Xenjin I dont use any indicators.my base of method is moving average
mostly i use white chart for trading. my experience say me to trade easy
i use only moving averages to find market trend, open price, Sl , Tp , Trailing, sl, follow trend, or even exit with minimum profit or sl
with this balance I use it at time frame m15, m30 or maximum h1 , now at this level all of my attempt is to have lowest stop lose
for my first position also i posted too

thanks alot
good luck
  • #109
  • Jul 13, 2007 4:18am Jul 13, 2007 4:18am
The only thing I know is that if you don't get in there and try then it wont happen.

I wish you all the best and of course you can do it.
Live Long and Prosper How GOOD are the NE Patriots ??
  • #110
  • Jul 13, 2007 5:38am Jul 13, 2007 5:38am
Quoting W-M
my first position
EUR/USD sell @ 1.3770 Sl: 1.3784 tp :1.3755
The only problem I see here is your risking 14 pips to make 15 pips.
With spreads, your risking 16 pips to make 15 pips.
That is roughly 1:1 ratio.

You are also setting T/P levels which will hinder your from catching the bigger moves


I would highly recommend you target an average of 2:1 ratio. They key is AVERAGE because not every trade will give you 2:1. Sometimes the market will offer you only 10 and you grab it. Other times, you might get 60 so your average should come to be 2:1. Also, even if you win only half the time, you will still be making money. Even if your losing 70% of your trades, your still at B/E

I could be wrong but thats what I found works for me.
  • #111
  • Jul 13, 2007 6:41am Jul 13, 2007 6:41am
The journals I have followed have always posted their calls in advance. It is the only way to verify it, otherwise what's the point? Anyone can come here and make false claims.

Z

Quoting Money > Pip
This is a journal not a signal service. If you keep a journal about events that happen to you in life, you don't go running to write it in your journal as the event(s) unfolds.

I apologize if I have you down wrong. I can also see why one would like to have them called as they happen to validate them, as one can just say they did a trade but never actually take it. If he decides to post them after he has made a trade I am fine with that, but remember if he is lying he is only hurting himself. I know his actions will not affect me.

Anyway good luck again W-M

(EDIT: Is it just me or did this thread get moved from the journal factory to Beginner FAQ?)
  • #112
  • Jul 13, 2007 7:14am Jul 13, 2007 7:14am
Quoting Zoran
The journals I have followed have always posted their calls in advance. It is the only way to verify it, otherwise what's the point? Anyone can come here and make false claims.

Z
I disagree.

Trading journal is not a signal journal, it's a place to write down your trades and analyse them, no matter if they are live or already a past

I can open a position, close it few days later and still put it into my journal for other people to discuss about it.

Now, the most false statement you can make is about those false claims.

Most of the people at FF are serious about what they do. THEY DON'T HAVE TIME and THEY DON'T FIND IT SERIOUS to post about something that never happened. Additionaly, they know they cannot lie to themselves. So it makes no point at all :
  • #113
  • Jul 13, 2007 7:27am Jul 13, 2007 7:27am
Quoting Dexis
I disagree.

Trading journal is not a signal journal, it's a place to write down your trades and analyse them, no matter if they are live or already a past

I can open a position, close it few days later and still put it into my journal for other people to discuss about it.

Now, the most false statement you can make is about those false claims.

Most of the people at FF are serious about what they do. THEY DON'T HAVE TIME and THEY DON'T FIND IT SERIOUS to post about something that never happened. Additionaly, they know they cannot lie to themselves. So it makes no point at all :
Hello
are you moderator of FF??
can i know why my thread was transfered to part of Forex Beginner Q&A
it is 2 times that moderator transfer this topic to Forex Beginner Q&A
thanks alot
  • #114
  • Edited 8:25am Jul 13, 2007 7:28am | Edited 8:25am
Quoting Xenjin
The only problem I see here is your risking 14 pips to make 15 pips.
With spreads, your risking 16 pips to make 15 pips.
That is roughly 1:1 ratio.

You are also setting T/P levels which will hinder your from catching the bigger moves


I would highly recommend you target an average of 2:1 ratio. They key is AVERAGE because not every trade will give you 2:1. Sometimes the market will offer you only 10 and you grab it. Other times, you might get 60 so your average should come to be 2:1. Also, even if you win only half the time, you will still be making money. Even if your losing 70% of your trades, your still at B/E

I could be wrong but thats what I found works for me.
Hi Xenjin, and thanks for the interesting post.

What you have said is true, but sometimes it takes more numbers to determine profitability and expectancy of the trading system.

There can be a R:R of 1:1, but if TS has a W% of 78% or higher, it will make money, not to mention Dynamic Reward Ratios, Dynamic Position Sizing and Trade management techniques which can have a very good impact upon particular TS.

I'm a discretionary trader, and seriously, there were only a few times where my R:R ratio was exactly 1:1.

Let's wait for more trades from W-M, then we should see the average numbers
  • #115
  • Jul 13, 2007 7:33am Jul 13, 2007 7:33am
Quoting W-M
Hello
are you moderator of FF??
can i know why my thread was transfered to part of Forex Beginner Q&A
it is 2 times that moderator transfer this topic to Forex Beginner Q&A
thanks alot


No W-M, I am not a moderator here

And, sadly, I cannot really answer you why it was moved to Forex Beginner Q&A ...
  • #116
  • Jul 13, 2007 7:53am Jul 13, 2007 7:53am
Quoting Dexis
There can be a R:R of 1:1, but if TS has a W% of 78% or higher, it will make money, not to mention Dynamic Reward Ratios, Dynamic Postion Sizing and Trade management techniques which can have a very good impact upon particular TS.

I'm a discretionary trader, and seriously, there were only a few times where my R:R ratio was exactly 1:1.

Let's wait for more trades from W-M, then we should see the average numbers
You are right but I find it difficult to maintain a w70% ratio. I guess its because im still a beginner. Im still learning though

Also, can you explain Dynamic Reward Ratios and Dynamic Postion Sizing .
  • #117
  • Jul 13, 2007 8:57am Jul 13, 2007 8:57am
Quoting Dexis
Most of the people at FF are serious about what they do. THEY DON'T HAVE TIME and THEY DON'T FIND IT SERIOUS to post about something that never happened. Additionaly, they know they cannot lie to themselves. So it makes no point at all :
OK then, let's wait and see. If this person truely makes it to $100k then who knows, maybe people will be interested in buying his signals?

I'm not really familiar with FF so perhaps I'm barking up the wrong tree.

Z
  • #118
  • Jul 13, 2007 8:57am Jul 13, 2007 8:57am
Quoting Xenjin
You are right but I find it difficult to maintain a w70% ratio. I guess its because im still a beginner. Im still learning though

Also, can you explain Dynamic Reward Ratios and Dynamic Postion Sizing .
Both DRR and DPS techniques are usually applied when trader has already entered the trade and wants to maximise overall profitability of the system, at the same time improving general numbers like Winning%, R:R ratio, Average drawdown.

Such kind of techniques are also possible to program, hovever this requires a lot of work (at least for me, since I don't know MQL or other programming language) as many more variables, IF's THEN's and ELSE's are involved. So I feel quite confident saying such type of trade management involves mostly discretionary traders.

DRR (Dynamic Reward Ratio) is strictly dependant on time and price. An example of this would be moving STOP LOSS to the candle's or bar's low everytime it closes when trader goes long or vice versa.

DPS (Dynamic Position Sizing) is strictly dependant on time, hence it involves adding or cutting down the position (but not closing it completely) as certain price levels are reached.

I hope this helps, and hopefully some other time I'll post more information on this
  • #119
  • Jul 13, 2007 3:19pm Jul 13, 2007 3:19pm
Here is what possible. Look at my post yestarday, I was braging about making 120% in 24 hours once. Well here is documanted example for last 24 hours. I made more then 20% of my account in last 24 hours. It is with scalping in about 20 trades or so.
Obiviously, it is not everyday you can get like this but if it posible once or twise then you can do your best to make it often enough.

Good luck to everyone.

Quoting Andy12
This is a great goal $100 to $100000. The thing is newbies have something great and pro guys for most part do not have it anymore. It is ability to think big.
It is achivable? I belive so.
One way to do it, be a great scalper (long term trader has no chance to do it my opinion even in wildest dreams ).
How long is it going to take to be a great scalper? This is another question, though.
I my best day ( and I am by no means even close to even good scalper, let alone great scalper ), doing scalping I was able to increase my account on 120% in 24 hours.
Now it was the best day for me. One day out of 4.5 months, that I am using the same strategy. Now all I have to do is make more days like this in the next 4 months!
Also my 120% is nothing compear to a guy who did more then 800% in 24 hours. Some guy posted his transactions during those 24 hours in tread " Scalpers go here", I am not sure if this Transaction history is still there, but the guy literally did around hundred transaction and in the end of the 24 hours he end up with $8000 ( started with $1000)
So if things like this posible then $100 > $100.000 sould be possible too.
One thing of warrning though, scalping is for everyone but to master it needs many months and maybe many years before you can get results like this.
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"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #120
  • Jul 14, 2007 11:17am Jul 14, 2007 11:17am
You remind me of a british dude who sold everything and borrowed everything he could and bet 100K pounds in Las Vegas on black. Only that he had more chances than you
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