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

  • #121
  • Nov 20, 2007 3:28pm Nov 20, 2007 3:28pm
Bolt, to reduce that risk the Interbank market is the only way,
brokers like Dukascopy, Currenex, Interactive Brokers which don't deal against you ..and finally the big one of course..ICAP, which is now also allowing quote based manual trading for non-banks...

Cheers,
PP


Quoting Bolt
its funny how so many think you can turn 10k to a Mil just as easy as 100 bucks to 10k. One of the main reasons is the brokers radar. If you make large gains but are below the average of the portfolio for that broker your trades will be fully automated and will clear through within 2 or 3 seconds. However, once you start trading over 100k you become the minority and will influence the portfolio of your broker and will then be put on manual. Your every trade then passes through to a dealer that then decides when your trade goes through. This can take well over 30 seconds on most trades once over 100k nor will stops and tps's work properly.

Bear in mind that almost all retail brokers aggregate all the mini lot accounts say 50,000 of them then and only then hedge out to the real market themselves to offset the risk knowing full well 90% of traders lose they will win. With only 10% winning accounts they will be about 3% of accounts which are large and troublesome for the broker and its these accounts that get the manual treatment as they pose a risk to their own hedge fund. So the bottom line is once you hit about 100k or notice fills over 5 seconds its time to take a fat profit and start again
  • #122
  • Nov 20, 2007 3:30pm Nov 20, 2007 3:30pm
Quoting Bolt
its funny how so many think you can turn 10k to a Mil just as easy as 100 bucks to 10k. One of the main reasons is the brokers radar. If you make large gains but are below the average of the portfolio for that broker your trades will be fully automated and will clear through within 2 or 3 seconds. However, once you start trading over 100k you become the minority and will influence the portfolio of your broker and will then be put on manual. Your every trade then passes through to a dealer that then decides when your trade goes through. This can take well over 30 seconds on most trades once over 100k nor will stops and tps's work properly.

Bear in mind that almost all retail brokers aggregate all the mini lot accounts say 50,000 of them then and only then hedge out to the real market themselves to offset the risk knowing full well 90% of traders lose they will win. With only 10% winning accounts they will be about 3% of accounts which are large and troublesome for the broker and its these accounts that get the manual treatment as they pose a risk to their own hedge fund. So the bottom line is once you hit about 100k or notice fills over 5 seconds its time to take a fat profit and start again
That is when you switch to ECN broker.

Cheers!
  • #123
  • Nov 20, 2007 6:11pm Nov 20, 2007 6:11pm
Quoting Bolt
hanover http://www.forexfactory.com/images/s...ser_online.gif your anti martingale is not really correct because there are many systems which are probability based and double up on losses. eg i have a system which has a PF of say 1.8 and over say 2 years the number of consecutive loses is 4 but the number of consecutive wins is 28. Now the number of actually single loss events is 895 while the winning trades is 1450 for my scalper. So with these stats i can afford to increase my next trade following a loss as much as TEN times knowing that out of 895 losing trades the next trade is very much likely to win by a massive ratio.

In this respect the losing streak has only happened 4 consecutive times in the past years yet the stats show loses are singular events in 99% of cases. In fact by increasing the risk following a loss just once then provides a massive gain to the account because the 895 loses are followed by 895 larger wins by scaling. In this respect loses CAN be turned into larger wins with probabilities in your favor but i recommend martingale is used wisely.
Bolt, the tables I posted assume that the trials are independent, i.e. that the result of a previous trial (win or loss) has no bearing on the trial(s) that follow. Hence the 16 possible outcomes (W-W-W-L, etc) are assumed to be equally likely.

However, if after a loss, there is a greater probability than "normal" that a win will follow, then that's a skewed probability distribution, and I totally agree that a favorable shift in probability justifies an increase in bet size. As you point out, increased bet size coinciding with favorable conditions will definitely increase your bottom line.

(Of course that's how the Blackjack pros of yesteryear made their money: by increasing bet size when the count of high cards remaining in the deck was significantly positive.)

The original idea of turning $1k into $100k+ used a reverse strategy, i.e. pyramiding bet size following each win, in the hope of making rapid, exoribtant gains, and supposedly lacked your statistical justification for doing so.

BTW, conrgrats on achieving a PF of 1.8, especially scalping. Impressive!

David
  • #124
  • Nov 20, 2007 8:03pm Nov 20, 2007 8:03pm
Welldone, Its an Amazing return.

I read about things such as 5% a month target or 30% a year and just think seriously what do these people think of life?!

Im sorry if I offend anyone, but for the working class person like me, a 30% a year gain is not very helpfull. Someone with 100K would make only 30K to live on, not alot considering the money invested, considering this should be money that will not affect your wellbeing if lost!

You say 'this was just a game' fair enough, but If i were you, more-so than the money I would be proud to have acheived.

OVER THE TOP risk? YES, but like you said, risk capital.
Id like to see more people openly saying what kind of % returns they are hoping/aiming for/achieving.

If you have 60-70% winning trades and larger wins than losses, people should surely be aiming for way more than 30% a year (way way way way more).

We only get one life afterall, And who wants to spend it growing there 100$ account at 30% a year?

Leon
Living the adventure in my head.
  • #125
  • Nov 20, 2007 8:43pm Nov 20, 2007 8:43pm
Lots a thoughtful replies---hmmm, this thread is becoming interesting now---again, I duly acknowledge all the compliments---my purpose for this thread is to make a trader believe in his/her self & anything is possible in forex world with calculated risks & sound strategy---Just to add fuel to this discussion, I'm attaching my previous mth's statement, when I turned 500 usd to almost 50k in a mth using various crosses (this is when I first tested this strategy in a live account)---
Now coming back to pipsqueak's query, I usually attempt 3-4 times in a mth with small amounts upto 1k---I achieved 50k feat after 2 attempts & I made this 126k on my 2nd attempt this mth---so,total 176k out of 5 attempts (investment 4k usd---not bad huh! lol)

GL/GT
Attached File(s)
File Type: pdf Fx report2.pdf   123 KB | 4,159 downloads
  • #126
  • Nov 20, 2007 8:53pm Nov 20, 2007 8:53pm
This has to be every trades dream, Congrats to you. Any chance of showing us mere mortals your cross over strategies or a few charts we can drawl over....Again amazing job.....keep it up...

Billser


Quoting mysticgenie
Lots a thoughtful replies---hmmm, this thread is becoming interesting now---again, I duly acknowledge all the compliments---my purpose for this thread is to make a trader believe in his/her self & anything is possible in forex world with calculated risks & sound strategy---Just to add fuel to this discussion, I'm attaching my previous mth's statement, when I turned 500 usd to almost 50k in a mth using various crosses (this is when I first tested this strategy in a live account)---
Now coming back to pipsqueak's query, I usually attempt 3-4 times in a mth with small amounts upto 1k---I achieved 50k feat after 2 attempts & I made this 126k on my 2nd attempt this mth---so,total 176k out of 5 attempts (investment 4k usd---not bad huh! lol)

GL/GT
It's All About Attitude ...
  • #127
  • Nov 20, 2007 8:56pm Nov 20, 2007 8:56pm
Quoting mysticgenie
Lots a thoughtful replies---hmmm, this thread is becoming interesting now---again, I duly acknowledge all the compliments---my purpose for this thread is to make a trader believe in his/her self & anything is possible in forex world with calculated risks & sound strategy---Just to add fuel to this discussion, I'm attaching my previous mth's statement, when I turned 500 usd to almost 50k in a mth using various crosses (this is when I first tested this strategy in a live account)---
Now coming back to pipsqueak's query, I usually attempt 3-4 times in a mth with small amounts upto 1k---I achieved 50k feat after 2 attempts & I made this 126k on my 2nd attempt this mth---so,total 176k out of 5 attempts (investment 4k usd---not bad huh! lol)

GL/GT
its a incredible result!! do u mind to share your trading system/indicators? thanks
  • #128
  • Nov 20, 2007 9:02pm Nov 20, 2007 9:02pm
LOL, and another statement.

All I can say is I hope that you are taking that money and living how so many dream to live! Young rich and single, what a life!

leon
Living the adventure in my head.
  • #129
  • Nov 20, 2007 9:03pm Nov 20, 2007 9:03pm
I'd like to know why this hasn't been moved to the Comedy Club yet. Somebody is not watching the shop, guys. Come on.
  • #130
  • Nov 20, 2007 9:31pm Nov 20, 2007 9:31pm
This has really turned into a great thread. Lots of positive remarks on the possibility of making a great income trading forex. Are you still trading with Forex Capital Markets? Have you ever had any margin calls?

Congrats and keep the info coming!!!!!!!
  • #131
  • Nov 20, 2007 9:46pm Nov 20, 2007 9:46pm
Quoting mysticgenie
Lots a thoughtful replies---hmmm, this thread is becoming interesting now---again, I duly acknowledge all the compliments---my purpose for this thread is to make a trader believe in his/her self & anything is possible in forex world with calculated risks & sound strategy---Just to add fuel to this discussion, I'm attaching my previous mth's statement, when I turned 500 usd to almost 50k in a mth using various crosses (this is when I first tested this strategy in a live account)---
Now coming back to pipsqueak's query, I usually attempt 3-4 times in a mth with small amounts upto 1k---I achieved 50k feat after 2 attempts & I made this 126k on my 2nd attempt this mth---so,total 176k out of 5 attempts (investment 4k usd---not bad huh! lol)

GL/GT
Did you have any problems getting orders filled once you were over $100,000? Did you have delays on your limits and stops? You were with FXCM, right?
  • #132
  • Nov 20, 2007 9:55pm Nov 20, 2007 9:55pm
Quoting Bolt
its funny how so many think you can turn 10k to a Mil just as easy as 100 bucks to 10k. One of the main reasons is the brokers radar. If you make large gains but are below the average of the portfolio for that broker your trades will be fully automated and will clear through within 2 or 3 seconds. However, once you start trading over 100k you become the minority and will influence the portfolio of your broker and will then be put on manual. Your every trade then passes through to a dealer that then decides when your trade goes through. This can take well over 30 seconds on most trades once over 100k nor will stops and tps's work properly.

Bear in mind that almost all retail brokers aggregate all the mini lot accounts say 50,000 of them then and only then hedge out to the real market themselves to offset the risk knowing full well 90% of traders lose they will win. With only 10% winning accounts they will be about 3% of accounts which are large and troublesome for the broker and its these accounts that get the manual treatment as they pose a risk to their own hedge fund. So the bottom line is once you hit about 100k or notice fills over 5 seconds its time to take a fat profit and start again
100k is not some magical number where a retail broker decides to put you on manual execution...I have a reasonably large account with FXCM and have honestly never had any trading problems (only admin)...I noticed absolutely no difference in trading $100k than $1k account size...
  • #133
  • Nov 20, 2007 9:59pm Nov 20, 2007 9:59pm
Quoting Norman1
100k is not some magical number where a retail broker decides to put you on manual execution...I have a reasonably large account with FXCM and have honestly never had any trading problems (only admin)...I noticed absolutely no difference in trading $100k than $1k account size...
Really? No problems at all... That's good to know... This board is filled with so many horror stories about how the brokers are out to get us. It's refreshing to hear from someone who has a large account and has no problems. Are you with the retail FXCM or PropFX the institutional end? Thanks.
  • #134
  • Nov 20, 2007 10:01pm Nov 20, 2007 10:01pm
Quoting trader07
Really? No problems at all... That's good to know... This board is filled with so many horror stories about how the brokers are out to get us. It's refreshing to hear from someone who has a large account and has no problems. Are you with the retail FXCM or PropFX the institutional end? Thanks.
Just plain old retail...I've considered going to an ECN, but if it's not broke........
  • #135
  • Nov 20, 2007 10:20pm Nov 20, 2007 10:20pm
Quoting mysticgenie
I usually attempt 3-4 times in a mth with small amounts upto 1k---I achieved 50k feat after 2 attempts & I made this 126k on my 2nd attempt this mth-
hi mystic,

i think you are on the other side on my losing trades.

you must give us more insight into your method. could you give a more detailed explanation of your process?

in particular, how are you using the laguerre? what gammas are you using for which timeframes?
realize the universe is one thing, and attach it to your body
  • #136
  • Nov 21, 2007 12:04am Nov 21, 2007 12:04am
Hi Bro,

Can you just share your chart out and the indicators you use?
whatever tools that turn 1k to 126k.
Its just unbelievable.

Quoting mysticgenie
Lots a thoughtful replies---hmmm, this thread is becoming interesting now---again, I duly acknowledge all the compliments---my purpose for this thread is to make a trader believe in his/her self & anything is possible in forex world with calculated risks & sound strategy---Just to add fuel to this discussion, I'm attaching my previous mth's statement, when I turned 500 usd to almost 50k in a mth using various crosses (this is when I first tested this strategy in a live account)---
Now coming back to pipsqueak's query, I usually attempt 3-4 times in a mth with small amounts upto 1k---I achieved 50k feat after 2 attempts & I made this 126k on my 2nd attempt this mth---so,total 176k out of 5 attempts (investment 4k usd---not bad huh! lol)

GL/GT
  • #137
  • Nov 21, 2007 12:34am Nov 21, 2007 12:34am
I only use FXCM---so far, I found them very good---fast execution & no sudden widening of spreads & they are also very fast in crediting your withdrawals---on the whole, hasslefree trading to me---
I already explained my method & I attached once screenshot as well few posts ago---I use same laguerre setting on longer TFs (i.e., 0.85, 0.15), only for further confirmation along other indicators as said before---
one more screenshot attached of today's trade (G/J Sell @ 226.67 closed @ 225.31---+ 136)
GL/GT
Attached Image (click to enlarge)
Click to Enlarge Name: gj trade.gif Size: 26 KB
  • #138
  • Nov 21, 2007 12:44am Nov 21, 2007 12:44am
Hi Bro,

Thanks for the attachment of chart?
can attached the indicators as well and necessary files ?

Quoting mysticgenie
I only use FXCM---so far, I found them very good---fast execution & no sudden widening of spreads & they are also very fast in crediting your withdrawals---on the whole, hasslefree trading to me---
I already explained my method & I attached once screenshot as well few posts ago---I use same laguerre setting on longer TFs (i.e., 0.85, 0.15), only for further confirmation along other indicators as said before---
one more screenshot attached of today's trade (G/J Sell @ 226.67 closed @ 225.31---+ 136)
GL/GT
  • #139
  • Nov 21, 2007 1:18am Nov 21, 2007 1:18am
The indicators I use are attached---

GL/GT
Attached File(s)
File Type: mq4 DeMark lines.mq4   17 KB | 3,422 downloads
File Type: ex4 Laguerre2A.ex4   5 KB | 3,098 downloads
File Type: mq4 Keltner Channels.mq4   3 KB | 2,878 downloads
File Type: mq4 CandleTime.mq4   2 KB | 2,516 downloads
  • #140
  • Nov 21, 2007 1:27am Nov 21, 2007 1:27am
I have heard of this being done before. It can be done. However with that particular strategy, I am unsure. Need to hear some more rules. You stoploss/tp rules whatever..

Because the losses could be too large. Thats why money management would have to come in. And simply increasing huge lots I don't see how you could survive any major move against your strategy
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