How I Turned 1k To 100k In A Wk!!! | Page 4 | Forex Factory

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

  • #61
  • Nov 18, 2007 1:30pm Nov 18, 2007 1:30pm
Quoting smjones
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.
FXCM makes this point confusing on this page. Note the brown box under the heading "What You Get".
  • #62
  • Nov 18, 2007 1:53pm Nov 18, 2007 1:53pm
Quoting smjones
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...
I really didn't read this whole thread but

I don't see anything wrong with having a "go for it account". Actually I think for a trader that understands the markets it is a fine thing. I did it in poker and I do it in forex. Like Scott said you are limiting your risk to the 1k, and if it has no effect on your "real" account. NO harm no foul. Kudos to you.

As for the license thing. If you live in a big city like New York many people have no need for a license at all. Having a car is more of a hassle then anything. Especially if you are born and raised in NYC.

This reminds me of my poker days. Where I would always set money aside to "parlay" in terms of moving up.

If anything you spiced up the end of the weekend. The main problem is newbies looking at a thread like this. So IMO it does more harm then good on a Forex Forum that gets so many views.



Mike
  • #63
  • Nov 18, 2007 1:56pm Nov 18, 2007 1:56pm
Quoting nvwine
FXCM makes this point confusing on this page. Note the brown box under the heading "What You Get".
I went and read this and their risk statement. but as with all of these brokers, it does not specifically say you cannot go in the hole. In fact is says there may be a margin call, not there will be a margin call. It would be interesting to see the contract one agrees to when they open a live account, because this is where they usually tell you there is a risk of losing more than you investment.

I think I remember reading a year or two ago someone was guaranteeing to not allow a negative balance, but they were not a US regulated broker. They were not regulated at all.
  • #64
  • Nov 18, 2007 2:33pm Nov 18, 2007 2:33pm
Quoting mike w
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.
No , in fact I don't have this mentality because if if did I would definitely not be writing here but yes for most people this would the only way to make profits with trading - this is also the mentality behing each and every trading education site which takes any kind of money from their customers , be it through subscriptions , ebooks etc.

It gets even worse - with people who offer managed accounts
  • #65
  • Nov 18, 2007 2:51pm Nov 18, 2007 2:51pm
I think you will more likely get a margin call before you take your profit, unless you do not sleep for a whole week. Play like this can only be done once or twice in your life. More than that is impossible. 2 stop losses will bring your balance down to 0. If stop loss is not set, your account will be blowed when you sleep.
  • #66
  • Nov 18, 2007 3:24pm Nov 18, 2007 3:24pm
Quoting fx_amateur
No , in fact I don't have this mentality because if if did I would definitely not be writing here but yes for most people this would the only way to make profits with trading - this is also the mentality behing each and every trading education site which takes any kind of money from their customers , be it through subscriptions , ebooks etc.

It gets even worse - with people who offer managed accounts
Hi Fx Amateur. I'm sorry if I sounded braisin earlier. I jsut didn't like the concept of putting other people out. I shouldn't have jumped like that and so I would just like to apologize. I agree with your points now that I understand them correctly. Some will never take the time to learn for themselves and so then they try to take the easy way out. This seems to be the way of our world anymore and it is pretty sad. Thank you for the explanation.
I dream, therefore I become.
  • #67
  • Nov 18, 2007 9:04pm Nov 18, 2007 9:04pm
Due to many enquiries, I am attaching my statement after being able to remove my account info

GL/GT
Attached File(s)
File Type: pdf Fx report.pdf   559 KB | 11,759 downloads
  • #68
  • Nov 18, 2007 9:45pm Nov 18, 2007 9:45pm
Quoting mysticgenie
Due to many enquiries, I am attaching my statement after being able to remove my account info

GL/GT
That's very good! Congrats! It's definitely possible to perform such a task, but it mainly depends on conditions during that week and that particular week (last week) really helped a lot with 1000s of pip movements...

I wish I could get $1k of that 100k u got = P...

well congrats once again
  • #69
  • Nov 18, 2007 9:51pm Nov 18, 2007 9:51pm
Mystic,

In case you aren't aware, you can enter larger lots on the FXCM platform by typing in your position size in the "Amount (k)" box....It makes it easier than executing numerous seperate trades..Hope this helps..

BTW, well done!
  • #70
  • Nov 18, 2007 10:31pm Nov 18, 2007 10:31pm
Thanks Norman---you have been very helpful---
GL/GT
  • #71
  • Nov 18, 2007 10:43pm Nov 18, 2007 10:43pm
Quoting mysticgenie
Due to many enquiries, I am attaching my statement after being able to remove my account info

GL/GT
Simply amazing.....
  • #72
  • Edited 11:18pm Nov 18, 2007 10:56pm | Edited 11:18pm
Quoting iandekoker
Lol...yes and i saw Elvis and the easter bunny last week

I am not even gonna responde to anyone stating they cant turn 1K into 100K in a week.

So enjoy the attention you get on the forum......

I am not going to respond... duh, you did... lol!
  • #73
  • Nov 18, 2007 10:59pm Nov 18, 2007 10:59pm
Quoting mysticgenie
Hi Folks,
It may sound impossible, but I turned 1k usd to more than 100k usd (126k to be precise) in a wk---I am attaching the statement from my real account (after removing the account no. et al.)--Caution to newbies, please do not trade this way---I call my this account 'wild thing' which boosts my overall return---I trade another account conservatively as per proper MM---Btw, I did the almost the same thing last mth as well turning 400 usd to 60k within 2 wks---with some experience in forex trading & a decent trading system, I believe, this feat achievable atleast few time a yr---afterall, I am only risking 1k of my capital (rest is house money).
Next time, I'll discuss how I manage this kind of trading, although the statement is pretty much self explanatory---
GL/GT
I for one hope that you repeat your performance over and over again.
  • #74
  • Nov 18, 2007 11:00pm Nov 18, 2007 11:00pm
I'm not going to respond...........
Same Whore .... Different Dress
  • #75
  • Nov 18, 2007 11:03pm Nov 18, 2007 11:03pm
How do you place so many trades so fast?
  • #76
  • Nov 18, 2007 11:24pm Nov 18, 2007 11:24pm
Congrats. I'm sure it feels amazing having achieved such a high rate of return so quickly.
  • #77
  • Nov 18, 2007 11:39pm Nov 18, 2007 11:39pm
Great !

Plan your trade, trade your plan !
Trade wise !
  • #78
  • Nov 19, 2007 12:05am Nov 19, 2007 12:05am
How I turned 100k into 1k in a Wk!!!

Anyone interested in seeing how I do it?
  • #79
  • Nov 19, 2007 12:12am Nov 19, 2007 12:12am
Quote
Currently Active Users Viewing This Thread: 55 (28 members and 27 guests)
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walawei... so HOT this thread. As trader, what we going to expect from this thread?
  • #80
  • Nov 19, 2007 12:14am Nov 19, 2007 12:14am
Quoting Pipsqueak
How I turned 100k into 1k in a Wk!!!

Anyone interested in seeing how I do it?

YES DO TELL
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