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Automated trading: $200 to $100K in 1 year 27 replies

friend wants to leave 100k, for 5%, riskless profit. 35 replies

Turning $250 into $100K in one year??? 11 replies

Attachments: How I Turned 1k To 100k In A Wk!!!
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How I Turned 1k To 100k In A Wk!!!

It's been said "give enough monkeys typewriters and eventually one will write a novel"..... still doesn't mean they know how to read.
Something else I wish to offer to anyone who would follow a trading
style much like the one depicted in this thread:

It applies to this thread because in the account statement it shows
multiple occasions where the account was "all-in" in one trade or
a series of trades.

Now, in the past I have done this. Sometimes I won big, sometimes I lost.
I don't do it anymore. It's not the way I want to trade.

However, if you ever find yourself in such a predicament and you're
long or short a bunch of something and you're in the red please listen:

Get rid of some of those contracts. Just scale out.
Consider it your punishment for going "all-in" in the first place
and breaking the rules of your trading plan (assuming you have one).
Especially if you're trading thru a dealing desk at high leverage
because they've been hoping you'd go for broke (YOU collectively).

If the trade is sound, but the MM is screwed, fix the MM.
Then the trade MAY be sound again. You cannot cannot hope
that a 100 pip loss is going to just turn around. It's TRENDING !
and it's trending against your entire account not just a few percent.

Use scalper's rules in such a case and you might save your account.
Don't wait until it's 100 pips in the red - get worried at 10 or 20 or 30.
Whatever the number, just don't sit there.

If you cannot get out and the hand of fear is clutching your throat,
then atleast hedge the position, effectively locking in the loss, just not
realizing the loss (not yet anyway) your account can be salvaged when
you are thinking clearly again. But you'll have to accept some losses.
Much more losses because you didn't follow your own rules and went "all-in".
But this is much better than having a margin call and losing the entire account.

This of course does not apply and has nothing to do with a traditional trade
where aspects of the trading plan are respected. You might have a profitable
trading strategy that allows for 200 pip stops and it's cool and it's profitable
and in that case - You 'da man, keep it comin'.

But specifically for someone trading an account and has lost his/her way and
is suddenly margined at 200:1 with hundreds of thousands of dollars/units
of exposure whereby a 0.5% currency move can effectively kill the account,
I know you don't want to hear it, but you gotta leave some of those
contracts behind and focus on WHAT YOU HAVE, NOT WHAT YOU HAD.
That is, of course, if you're trying to trade for profit and not for thrill-seeking.

If you're trading for excitement/fun, then I would buy as much Pound Yen as I could afford.
Look for the highest leverage possible - it's so much more exciting and you'll see the results so much sooner.
And it goes without saying, stops are for girls. Go for it !!

(P.S. That was a joke - Do Not Do That)
Quoting mld
me have never made such a fabulous return 1200% in a week
not 1,200% it's 12,000% .
If I Go Broke Trying Then I Will die happy.
Quoting cesarnc
Well, don't even need a calculator to see that MM is crazy.

Just wanted to see if there would be a thread named "how did I toast 1k in 1 hour by trying to turn it into 100k in a week" :

Anyway... congrats
That's true. I don't think if with proper MM he/she can get 100K in a week.
"Invest With The Insiders, Not The Masses" George Muzea
GUYS.

Stop reading this thread NOW!


This guy just wanna get our attention, now he got me and he got you!
FOREX "It just the matter whether you GAIN or you PAIN!"
Hello Friendz,
Thanks for all the compliments & brickbats--lol
Some of you already pointed out the danger assoc with this system--Yes, I fully agree that you cannot trade like this day in & out---a surefire way of giving back all your profits---I already said this is my 'wild thing' account, not the usual way I trade---this is only for 'binge trading', say, I'll do this only for a wk or so & will take the profit & run--lol--yes I set a target for myself to keep myself motivated--- And during this time I hardly sleep moe than few hrs a day as I always keep an eye on my account---
I took my account statement off, as one of you already pointed out the real account no. (I did not notice that it is mentioned in last column)---I like FXCM & never had any problem in withdrawing money this time or before (usually withdrawal is completed within 24-36 hrs in US)--- I think FXCM is one of best among the retail trader segment (provided you are not a scalper, i.e., 5-15 pips like thing).
I am not here to prove myself or something like that (belief is totally personal thing)---I posted my result just to show that it is possible to get an amazing return from forex in a short period of time if one keeps his/her emotions away from trading (i.e., the growth of account is directly proportional to your pain tolerance)---the moment your head starts reeling from the amount of money you won, your trading will suffer & that's the time to stop & withdraw your profits---yes I could have gone on & made it to even higher ( coz, only 1 hr after I stopped trading this account, G/J dropped like stone from BOE infiation report)--But, i decided to stay away as that was my pain tolerance for this mth--lol (I have to worry about taxes---this is the year end folks!!)

I enjoy forex trading, but I'll never take it as my profession, coz I'm already in a very noble & rewarding profession ( any American will know which one i mean)---Some of you suggested to buy a Porsche---now i'm going to drop another bomb--ready?--I don't have a driver's license yet-lol--that's my next agenda to make it happen ---and I'm also single--need to find a girlfriend also (preferably a trader who follows good MM--lol)

happy weekend all,
I know a better way to make that kind of money:

open a website and teach people how to trade on Forex , you can make thousands of % on your investments this way and the best thing is that you don't even need to be a successful trader , just copy all the TA stratgies from Forexfactory and teach them to your students

You can write ebooks , sell subscriptions , offer personal mentoring and if someone should want to see your account statements (although most people would believe your fancy website without this) you make a simple thing: you open two separate trading accounts and make the same trades into opposite directions , one of the accounts will make profits for sure and no matter what you can't lose because for you it is just hedging and you only lose the spread , then you conceal the losing account from your customers and show them the profitable one , great , isn't it?

And additionally you make deals with other people like so you get access to their customers and they to your and you pay a part of the commissions to one another.Really this IS a strategy and the risk is very limited
It's hard to believe..... really.....
But, after I check his trades one by one... (at least until he made $4206.94)..... surely... this account performance is true indeed....

It's possible.... ONLY if :
1. $1K means nothing to you.
2. You don't have a target. (just goin' with the flow....)
3. No emotion please... trade like a robot...
4. The Fortune-Goddess is being nice to you.....

.... and I must say... Mysticgenie has it.... Congrats bro....
  • Post #49
  • Quote
  • Edited 1:11pm Nov 18, 2007 10:03am | Edited 1:11pm
i believe. i am sure it is possible to make that much that fast. just want the details to see if i can learn something.

i once turned $5000 into $50,000 in two weeks, then i lost it all. and you can too!

here is how i did it: leverage up 400:1 (cms forex). then put on a few standard lot trades short and long - it does not matter where. i would just shut my eyes and push the button. this actually makes some sense since we do not know where the market is going. and you are hedged when two opposite trades are open.

i then went to starbucks for a couple of hours. read the paper, hung out. returned and closed any trades that were over $100 (just ten pips or so), which removed the hedge but banked the profits. i ignored the trades that were down, sometimes way down. i would laugh when a newly opened trade went against me, and even hoped it would do so, knowing that it would eventually turn in my favor. i felt that i was on to the secret of how the big boys trade.

i kept doing this and only closed trades when they eventually went over $100. often they were much more than $100. my account had a long list of winning trades - not one loser. this continued for two weeks. even the badly losing trades became positive if i waited.

(choosing the time to enter and exit are just about the only advantages a trader has against the market)

these were some of the happiest days in my life. but, as jerry says, "it could always go wrong."

one day the market walked away from my "red" trades and the party was over. the lesson i learned is to always buy a porsche when you are up, before you lose your balance. this is that boring money management stuff you always hear about.

here is another smart high risk method: in forex you can only lose your balance (unlike in futures), so open a $1000 account, put 90% on one highly leveraged position with a 50 pip stop and go to sleep. you either make $5000 or lose $1000 overnight - a very good risk to reward. if your stop got hit, you get another roll of the dice.

if you win, get your money out fast and open with five different brokers. do it all again, but this time open two big trades in one direction and three in the opposite direction so you are somewhat hedged. lose $3000 and make $10,000 overnight. (this post should probably be in the "trading systems" section)

so it is very possible to do as mysticgenie did. but he must buy a porsche turbo before any more trades. for proper money management he should not get a driver's license to avoid crashing that car faster than his account. the next logical step is to repeat his method with the remaining account balance to get more porsches. for proper money management you should always turn your pips into porsches.
realize the universe is one thing, and attach it to your body
Quoting buddhi
...for proper money management you should always turn your pips into porsches.
The most memorable comment in the entire thread! Lol, priceless!
love the idea..have your well thought out managed account..then set aside some completely risk free capital and gamble like it were vegas!...love to know the system you used..timeframes..leverage..etc..

well done!!
Fear's for the other guy
Quoting mysticgenie
Hello Friendz,
Thanks for all the compliments & brickbats--lol
Some of you already pointed out the danger assoc with this system--Yes, I fully agree that you cannot trade like this day in & out---a surefire way of giving back all your profits---I already said this is my 'wild thing' account, not the usual way I trade---this is only for 'binge trading', say, I'll do this only for a wk or so & will take the profit & run--lol--yes I set a target for myself to keep myself motivated--- And during this time I hardly sleep moe than few hrs a day as I always keep an eye on my account---
I Congratulate your guts but marvel at your doubt of not able to repeat the same every week. It is simple to do.

1. Take out 1k out of the 126k, and use that to trade the following week.
2. Each week you make a profit of 125k. You don't need to have sleepless
night on 1k again.
3. In some weeks you could make less than 1k profit, in some other weeks you could make exactly the same result.What are you afraid of?
Bravo Keep it up! You don't need to be in hurry to get
a driver's license. keep banking 125k every week as a young man
and save, and save for the rainy days!


Quoting mysticgenie
I enjoy forex trading, but I'll never take it as my profession, coz I'm already in a very noble & rewarding profession ( any American will know which one i mean)---Some of you suggested to buy a Porsche---now i'm going to drop another bomb--ready?--I don't have a driver's license yet-lol--that's my next agenda to make it happen ---and I'm also single--need to find a girlfriend also (preferably a trader who follows good MM--lol)
What could be more profitable business than 125k every week for
a young man without a driver's license ?
Tell us if you are sure of what you are saying.

What could be more profitable than this?
So from your statement and taking into account the time frame of Alpari charting and the time frame of FXCM. It appears to me that you are still using the same method you described long ago, only with very bold MM. It looks like you piggy backed successes. An interesting idea, and it is hard to argue with your outcome. The fact that you went into the project with the knowledge that you were only going to play with the $1000, that alone limited your risk.

Congrats on the outcome...
Quoting mysticgenie

I enjoy forex trading, but I'll never take it as my profession, coz I'm already in a very noble & rewarding profession ( any American will know which one i mean)---
I'm an American and I have no idea what you are talking about? How can someone so young they don't have a license be in a noble and rewarding profession. If it's killing people, I served in two branches. Ain't nothing noble about letting some numbnuts in Washington send your stupid ass off to another country and die.
Quoting Dopey
I'm an American and I have no idea what you are talking about? How can someone so young they don't have a license be in a noble and rewarding profession. If it's killing people, I served in two branches. Ain't nothing noble about letting some numbnuts in Washington send your stupid ass off to another country and die.
I was thinking maybe a teacher or as a long shot a student and young at that... LOL
Quoting fx_amateur
I know a better way to make that kind of money:

open a website and teach people how to trade on Forex , you can make thousands of % on your investments this way and the best thing is that you don't even need to be a successful trader , just copy all the TA stratgies from Forexfactory and teach them to your students

You can write ebooks , sell subscriptions , offer personal mentoring and if someone should want to see your account statements (although most people would believe your fancy website without this) you make a simple thing: you open two separate trading accounts and make the same trades into opposite directions , one of the accounts will make profits for sure and no matter what you can't lose because for you it is just hedging and you only lose the spread , then you conceal the losing account from your customers and show them the profitable one , great , isn't it?

And additionally you make deals with other people like so you get access to their customers and they to your and you pay a part of the commissions to one another.Really this IS a strategy and the risk is very limited
I honestly don't like your thought process on this. That is shitty to want to dupe people into thinking you can do something great for them, when in reality you can't. I don't know how you could live with yourself knowing that people are going to go through incredible problems because of something that you did. This is something you could do to make money, yes, but would you really want to? I guess it wouldn't matter because you would never have to see the people that you screw over, would it? I used to have the same mentality that you do now. It will only end badly for you, because every dog has his day. I hope that something changes that for you. Have a nice day.
I dream, therefore I become.
BTW, how many times have you lost the $1000? Or is this one of the first times you have done this sort of trading? The question out of how many is always the most revealing.

Also, not you but someone else said that Forex is ideal, because one cannot lose more than the $1000 account. This is absolutley not true. In a fast market one can lose much more than their balance. I have yet to see a contract that guarantees maximum loss.
Quoting smjones
BTW, how many times have you lost the $1000? Or is this one of the first times you have done this sort of trading? The question out of how many is always the most revealing.
- very good question.

Quoting smjones
Also, not you but someone else said that Forex is ideal, because one cannot lose more than the $1000 account. This is absolutely not true. In a fast market one can lose much more than their balance. I have yet to see a contract that guarantees maximum loss.
- i am not so sure that this is absolutely not true. how would a broker collect? i do not think they would win in court. if they selectively execute margin calls there is a conflict of interest. the broker has some, albeit soft, obligation to close your trade if it margins out. this is not just to protect them but to also protect the trader. if the broker's systems fail, the liability should not fall on the trader. and the broker would not want the publicity of going after a client.

the key is the placement of liability and the conflict of interest, not so much the contract wording.

- what is much more disturbing in the broker's contract (you know, all that small print we fail to read) is the clause that allows your broker to use your account - your money - for operating expenses if they get into trouble. that means you have last claim on your money if they refco.

find and read that clause in your small print - every broker has it. then go to the cftc here: http://www.cftc.gov/marketreports/financialdataforfcms/
and check the capitalization of your broker. if your broker is not listed, well, that is not a good sign. note oanda's capitalization. note also mbtrading/efx.
realize the universe is one thing, and attach it to your body
Quoting buddhi
- very good question.



- i am not so sure that this is absolutely not true. how would a broker collect? i do not think they would win in court. if they selectively execute margin calls there is a conflict of interest. the broker has some, albeit soft, obligation to close your trade if it margins out. this is not just to protect them but to also protect the trader. if the broker's systems fail, the liability should not fall on the trader. and the broker would not want the publicity of going after a client.

the key is the placement of liability and the conflict of interest, not so much the contract wording.

- what is much more disturbing in the broker's contract (you know, all that small print we fail to read) is the clause that allows your broker to use your account - your money - for operating expenses if they get into trouble. that means you have last claim on your money if they refco.

find and read that clause in your small print - every broker has it. then go to the cftc here: http://www.cftc.gov/marketreports/financialdataforfcms/
and check the capitalization of your broker. if your broker is not listed, well, that is not a good sign. note oanda's capitalization. note also mbtrading/efx.
interesting points, but margin is very simply a loan. regardless of the size it has the same effect as anyother type of loan. The collection of which can be pursued in the same ways as any other type of loan.
  • Post #60
  • Quote
  • Edited 10:03pm Nov 18, 2007 2:13pm | Edited 10:03pm
Lots of comments---wow, I never knew I'll stir a hornet's nest---lol--thanks smjones, tdion, imransait, budhi---all other knowledgeable folks---yes it is possible & there is nothing magical--it's just that i used a very bold MM in a way I'm going to explain later---
Oh, btw, I'm a young MD in early 30's (just to clarify some of your doubts)---I have been trading about a yr & this helps me to relax (yes it's true guyz---trading has much less stress than medicine---believe me) & I enjoy both the worlds very well---why not driving, coz I live in NYC & never felt the need of it & gave any importance before---
Regarding smjones' query: yes, I have been doing it for quite some time, but from last mth onwards raised my stake somewhat from increasing confidence level & more free time from my work--lol--did it last mth w/ 450 usd to 60k in 2 wks--- usually I'll attempt 3 times in a mth at the maximum w/ 500-1000USD at a time when I feel confident about market direction (this mth I managed this on my 2nd attempt).

Now the strategy in brief:

The strategy is very simple with some fine nuances which I'll not be able to explain fully as I also use my intuition a lot.
I use simple trend following strategy based on 4H, daily & wkly TF (PA as per James 16 thread)--- I use 1H TF for entries & exits---I also apply candlestick pattern, laguerre (see Imransait's thread) & Demark lines (Mouteki thread) for estimated target points---now I do not use any firm SLs---if the position goes a/g me (say by 100-150 pips in case of G/J), either I'll bail out & reverse (if the reverse trend is strong)or will simply hedge to try to come out b/e (minor retracements)---at the same time I keep an eye on wkly COT report (see cateful's thread) & equity markets (a big time for me as I am trading carry pairs) to assess market sentiment for that particular day---I avoid early US sessions (that's when i usually sustain my losses & market is also little undecided) & try to figure out next market direction from late US session onwards, e.g., if you see dow is closing strongly, you can be assured that asian markets will open strongly & G/J will move by atleast 50-100 pips from late US session onwards---I prefer to trade in late asian & early european sessions (besides being free from my work usually, i somehow can feel those markets better)---this is the time I'll try to increase my leverage to maximize my gains---I follow fib numbers to increase account size i.e., 1,2,3,5k----I decide on lot size as I risk b/w 15-30% on each position---I trade manually btw, no preset orders for me---i'll never forget the feeling of putting in 60 std lots in a mini account---lol

Last, but not the least, BEGINNERS, PLEASE DO NOT TRADE THIS WAY WITH YOUR HARD EARNED MONEY YOU CANNOT AFFORD TO LOSE, UNDERSTAND WHAT YOU ARE DOING & THE CONSEQUENCES (TRADE YOUR PLAN, PLAN YOUR TRADE).
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