DislikedDefinitely possible,I turned 500 euro to 30000 in one week with 100 leverage.Ignored
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
Dislikedi 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.Ignored
DislikedA hint to trade carry pairs---follow the equity market & see this wk's COT report---remember, we had a huge correction last 2 wks---so, a nice retracement during next few wks should not be the surprise (in other words, all bad news fully priced in, unless some new catastrophe shows up--like, collapse of any big financial institution rather than few write offs)---a pre-christmas rally of all global indices till 1st 2 wks of Dec may bring smiles to Japanese MOF, housewives, etc--- ofcourse, I may be wrong---but there is always a SL somewhere down there!!
GL/GTIgnored
DislikedA hint to trade carry pairs---follow the equity market & see this wk's COT report---remember, we had a huge correction last 2 wks---so, a nice retracement during next few wks should not be the surprise (in other words, all bad news fully priced in, unless some new catastrophe shows up--like, collapse of any big financial institution rather than few write offs)---a pre-christmas rally of all global indices till 1st 2 wks of Dec may bring smiles to Japanese MOF, housewives, etc--- ofcourse, I may be wrong---but there is always a SL somewhere down there!!
GL/GTIgnored
DislikedThe criteria for 1kt is 1000 live trades. MysticGenie has been posting his trades for some time now, and this endeavor is congruent with what he has posted in the past. Trading in this manner would surely generate 1000 trades in a short time.
As far as possibility: This has been done before by others. It involves knowing you will likely fail in individual attempts, but using a small enough stake that the attempt can be repeated over and over.
Mystic has provided statements, charts, indicators and has answered evryone's questions. I see no reason that Mystic being vouched for should change anyone's opinion of 1kt.Ignored
DislikedYou wanna know what this is like ?
It reminds me of say having a group of people jump of a tall building
and one by one they plummet to their doom. Then one day,
a guy jumps off the very top of the same building,
waving to the crowd as he falls, even answers a text msg or two
on the way down and miraculously lands on his feet and walks to
the starbucks next door and orders a latte.
Then, we all look at each other and say, ".. I wonder if I can do that ?"
My advice: order the latte now, might be a good idea.
p.s. if it's frappuccino, go easy on the whip cream. You'll eventually weigh
more and although you really won't fall faster (google: gravity),
you'll make a bigger mess when you hit the ground.Ignored
DislikedWhy would you want to put yourself through that? This is just an honest question, as I am not here to bash on anyone or anything of that nature. My question is this; Why wouldn't you want to learn about the market and take the time to use the right money management strategies to be able to create a consistent living for yourself through the foreign exchange market? There is an incredible opportunity waiting for everyone who wants to take the time and learn it. Instead, I think, you are trying to beat the odds right now. It may work for a little while, but in the end will, most likely, only bring hardship to you.Ignored
DislikedI Wont Mind Having This Strategy Of Yours.
What I Have Lose On Fx Is Damn Much.
I Need Recovering As Soon As Possible.
Gracias!Ignored