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

  • #401
  • Dec 6, 2007 6:02pm Dec 6, 2007 6:02pm
Hey Charlinks,

TEN IS ZEN. Say it with me everyone. You can make an easy 10 with this thread. Or you can do like I do and go for the big trade and lose. ;-) At least I move my stops to break even.

I have not tried the latest Mouteki, would you mind posting it here for testing? Has anyone else tested it?

I use Lag lines to determine market direction. The red line will stay pegged to the top or bottom in an extended up or down market and keep you in the trade, while the blue line is your early signal of a change. Read Imrain's thread on the 5/15M scalp for more on Lag, MACD, and Stochastic Histogram. I think they pair well with the Demark indicator as an extra filter to let you know if this is a really strong trade or a 10 pip trade.

DZ
  • #402
  • Dec 6, 2007 6:08pm Dec 6, 2007 6:08pm
Nice Dr. Zeus!

Thanks for the quick explanation on Laguerre!

Here is what I do, when 10 pip is achieved - I close half of the position, move the stop loss for the rest to break even and take a guess for the target based on circumstances / volatility / fundamentals...
  • #403
  • Dec 7, 2007 8:19am Dec 7, 2007 8:19am
What I love most about this is that this wasn't one BIG trade, it was a large succession of large(r) trades, but you see that one single trade didn't make or break the account. Nicely done, mystic.

I just recently did a 6k account up to 55k, at IBFX, but then blew it up shorting EURAUD a day early. I was so convinced I was right, and the market taught me otherwise. Of course, it was not rent money, but it hurt nonetheless. Time to lather, rinse, and repeat next week!

It took me 2 weeks, 3rd week was the explosion (this last week actually). Live and learn!

CFX
  • #404
  • Dec 7, 2007 8:49am Dec 7, 2007 8:49am
Quoting CFX
What I love most about this is that this wasn't one BIG trade, it was a large succession of large(r) trades, but you see that one single trade didn't make or break the account. Nicely done, mystic.

I just recently did a 6k account up to 55k, at IBFX, but then blew it up shorting EURAUD a day early. I was so convinced I was right, and the market taught me otherwise. Of course, it was not rent money, but it hurt nonetheless. Time to lather, rinse, and repeat next week!

It took me 2 weeks, 3rd week was the explosion (this last week actually). Live and learn!

CFX
Thanks a lot---Sorry to hear that you lost your jackpot after that wonderful journey---try to set a target for each month & then withdraw the winnings regularly--- that'll control your emotions--- you won't feel bad if you lose a small portion of it---

GL/GT
  • #405
  • Dec 7, 2007 8:57am Dec 7, 2007 8:57am
Haha, thanks, like I said it hurts but it's not a huge deal. I've done it a few times, as you have.

I nearly had withdrawn a good amount of it but didn't want to miss the EURAUD. I was right, but I overleveraged, so it didn't matter. It's going to 6100 before the end of the year, which was my target. With some luck I'll be able to catch it starting next week.
  • #406
  • Dec 7, 2007 10:18am Dec 7, 2007 10:18am
Quoting CFX
What I love most about this is that this wasn't one BIG trade, it was a large succession of large(r) trades, but you see that one single trade didn't make or break the account. Nicely done, mystic.

I just recently did a 6k account up to 55k, at IBFX, but then blew it up shorting EURAUD a day early. I was so convinced I was right, and the market taught me otherwise. Of course, it was not rent money, but it hurt nonetheless. Time to lather, rinse, and repeat next week!

It took me 2 weeks, 3rd week was the explosion (this last week actually). Live and learn!

CFX
Were you using mysticgenie's strategy or your own?

If you did it once you can do it again, right?
  • #407
  • Dec 7, 2007 10:42am Dec 7, 2007 10:42am
hi guys

these are my trade results. please understand that some trades are not open when trade lines are broken because i am away working.

if u look at the floating nzdusd position, thats wat we call hoping for the market to turn n guess wat...u know the answer...

i think my original sl was 7684 when i open the trade, then i move the sl to 7895, instead of stopped out wit a small loss..look at the floating loss now...haha..

its ok since its demo. just to share wit u guys.
Attached File(s)
File Type: xls ODL.xls   63 KB | 489 downloads
  • #408
  • Dec 7, 2007 11:08am Dec 7, 2007 11:08am
I will post few more charts this weekend---Btw, I am working on another parallel scalping strategy which allows an early entry but with tight SLs---So far, things look good---will let you all know after I run it on a live account for a mth or so---

GL/GT
  • #409
  • Dec 7, 2007 2:18pm Dec 7, 2007 2:18pm
zeus, it was my own. Well, not my own, technically it was using Drummond, and I obviously didn't invent that.

Of course I can do it again!
  • #410
  • Dec 8, 2007 7:42am Dec 8, 2007 7:42am
Yeah, I haven't read the whole thing so please forgive me if I sound ignorant.




THIS IS GAMBLING, (the author would sort of agree, mm is not good)
DO NOT TAKE THIS APPROACH
YOU WILL NEVER EVER MAKE LONG TERM SUCCESS LIKE THIS

also, stop asking for the system before you find success with your psychology, learn about money management, etc. because...

IT'S NOT THE SYSTEM THAT MAKES YOU SUCCESSFUL
That's a part of the equation, but even with a crappy system you can make a lot of money.


Here's my advise.

(1)FIND A TRADING STYLE THAT FITS YOUR PERSONALITY

This ensures that you will follow that system naturally.

For example, do you like playing poker and video games? This means you're more naturally inclined to short term trading.

There are two broad variables:
emotional style, cognitive style.
Emotional: do you seek stability or stimulation?
Cognitive: do you go with your head or your gut?

Look for general activities in your life that support your style.

Here's a small basic list:
Head, Stimulation: Develop trading system with programming.
Gut, Stimulation: Short term trading, always in market.
Head, Stability: Develops long term trading systems.
Gut, Stability: Long term market patterns on diverse portfolio.

Most of us are a combination of the two but you need to find a style that fits you. If you trade a style that DOESN'T fit you, then you will naturally self-sabotage and you will probably not succeed.

(2) FIND A MARKET THAT FITS YOUR TRADING STYLE

Even if you're a great trader, if you don't find the right market, you won't make much money. Well, since we're all in Forex I might as well say change that last statement from "market" to "timeframe".

If you're stability seeking, trade a higher timeframe.
If you're stimulation seeking, trade a lower timeframe.


If this sounds familiar, I've just been reading "Enhancing Trader Performance" by Brett Steenbarger, and just finished "Trade Your Way to Financial Freedom 2ed" by Van Tharp.
  • #411
  • Dec 8, 2007 8:06am Dec 8, 2007 8:06am
even with a crappy system you can make a lot of money??

yeaaaa right!!!!!! : )

Emotional, cognitive? stability or stimulation?

what the hell are you talkin about??? this is TRADING!!! not psyco- crap
Fuck Forex Factory
  • #412
  • Dec 8, 2007 8:25am Dec 8, 2007 8:25am
Quoting alelualdi
even with a crappy system you can make a lot of money??

yeaaaa right!!!!!! : )

Emotional, cognitive? stability or stimulation?

what the hell are you talkin about??? this is TRADING!!! not psyco- crap

Well, if you don't find it useful, you could at least treat it as food for thought; doesn't hurt, right?


Oh wait, do I detect sarcasm ? (or maybe not...?) hahahaha
  • #413
  • Dec 8, 2007 7:38pm Dec 8, 2007 7:38pm
You're right Sky.. this morning I was a little bitchy..
take care
Fuck Forex Factory
  • #414
  • Dec 8, 2007 9:45pm Dec 8, 2007 9:45pm
Congratulations on your fabulous profit,

I took your great advice and am testing the Demark lines indicator... Very nice, in most time frames. Tested it on daily, H1, H4, M30 and always good signals.

I was wondering do you stick to your view that stocks may get a Christmas rally, or the rally so far has come to an end?

It's really tough making bets before a FED meeting.
  • #415
  • Dec 9, 2007 5:11am Dec 9, 2007 5:11am
Quoting Skyhr
Yeah, I haven't read the whole thing so please forgive me if I sound ignorant.




THIS IS GAMBLING, (the author would sort of agree, mm is not good)
DO NOT TAKE THIS APPROACH
YOU WILL NEVER EVER MAKE LONG TERM SUCCESS LIKE THIS

also, stop asking for the system before you find success with your psychology, learn about money management, etc. because...

IT'S NOT THE SYSTEM THAT MAKES YOU SUCCESSFUL
That's a part of the equation, but even with a crappy system you can make a lot of money.


Here's my advise.

(1)FIND A TRADING STYLE THAT FITS YOUR PERSONALITY

This ensures that you will follow that system naturally.

For example, do you like playing poker and video games? This means you're more naturally inclined to short term trading.

There are two broad variables:
emotional style, cognitive style.
Emotional: do you seek stability or stimulation?
Cognitive: do you go with your head or your gut?

Look for general activities in your life that support your style.

Here's a small basic list:
Head, Stimulation: Develop trading system with programming.
Gut, Stimulation: Short term trading, always in market.
Head, Stability: Develops long term trading systems.
Gut, Stability: Long term market patterns on diverse portfolio.

Most of us are a combination of the two but you need to find a style that fits you. If you trade a style that DOESN'T fit you, then you will naturally self-sabotage and you will probably not succeed.

(2) FIND A MARKET THAT FITS YOUR TRADING STYLE

Even if you're a great trader, if you don't find the right market, you won't make much money. Well, since we're all in Forex I might as well say change that last statement from "market" to "timeframe".

If you're stability seeking, trade a higher timeframe.
If you're stimulation seeking, trade a lower timeframe.


If this sounds familiar, I've just been reading "Enhancing Trader Performance" by Brett Steenbarger, and just finished "Trade Your Way to Financial Freedom 2ed" by Van Tharp.


Skyhr,

I couldn't agree more with what you posted in regards to psychology.
I think MG has proven that his system he's trading is successful..and that if you gamle once in a while you can win big too.... (or blow the account, as MG did too before).

The real "egde" in trading, in my perspective, is the psychology and to keep consistant. Looking at automan's results, they are fabolous...on the demo-account..but would everyone be as "cool" in putting exactely the same trades on a live 100k account....not taking shitty trades off earlier or having the desire to stretch out the winnes ?
I think here's where the 95% of loosing traders come into the equation...
those who manage to stay in the zone and stay emotionless (for both sides..winners and loosers)..they could be the ones of the successful 5%.

Cheers,
PP
  • #416
  • Dec 9, 2007 9:27am Dec 9, 2007 9:27am
Quoting Peter Pan
Skyhr,

I couldn't agree more with what you posted in regards to psychology.
I think MG has proven that his system he's trading is successful..and that if you gamle once in a while you can win big too.... (or blow the account, as MG did too before).

The real "egde" in trading, in my perspective, is the psychology and to keep consistant. Looking at automan's results, they are fabolous...on the demo-account..but would everyone be as "cool" in putting exactely the same trades on a live 100k account....not taking shitty trades off earlier or having the desire to stretch out the winnes ?
I think here's where the 95% of loosing traders come into the equation...
those who manage to stay in the zone and stay emotionless (for both sides..winners and loosers)..they could be the ones of the successful 5%.

Cheers,
PP
Definitely. I couldn't agree with you more. But at the same time traders need to love trading, because it is their love for trading that sustains their motivation, and causes them to learn from their mistakes (and thus climb over the learning curve)

The conventional wisdom on trading psychology is basic Mark Douglas stuff, (Trading In The Zone), basically what you mentioned.

But now we know that there're tons of traders who try to be consistent but fail. It is because what they think is very profitable in their mind (cognitively) the style may not fit their natural "style". And so what happens is that they need shear discipline to stay consistent.

The KEY that we've found out now is the once you find a style that NATURALLY fits you, you WON'T NEED DISCIPLINE because you WON'T WANT TO DO ANYTHING ELSE.

The fit between your personality and your style determines your consistency. The fit between your system and your market determines your edge.

I would say these two statements are very important to keep in mind.
  • #417
  • Dec 9, 2007 9:42am Dec 9, 2007 9:42am
Wow,,,,, it's not a dream, right,, turning 1k to 100 k in just a week,,,,
I cannot imagine how,,,
  • #418
  • Dec 9, 2007 9:44am Dec 9, 2007 9:44am
Hi Mysticgenie

I have been following this thread and been learning a lot about the indicators you use. Your charts have been very useful for me to understand the demark trendlines , laguerre and the keltner channels. I know that these indicators alone do not make the system, and that you use other market info like COT reports etc. Thanks for taking the time to share this with everyone, even if I dont make a 100k in one week, your information has been very valuable knowledge to me, ignore the comments from this who dont appreciate yoru information.

I hope you get to post some charts this weekend.

Jenna
  • #419
  • Dec 9, 2007 9:45am Dec 9, 2007 9:45am
Wow,,, it's not a dream, right,,,, turning 1 k to 100 k in just a week,
I cannot imagine how,,,
  • #420
  • Dec 9, 2007 10:25am Dec 9, 2007 10:25am
Quoting Skyhr
Yeah, I haven't read the whole thing so please forgive me if I sound ignorant.




THIS IS GAMBLING, (the author would sort of agree, mm is not good)
DO NOT TAKE THIS APPROACH
YOU WILL NEVER EVER MAKE LONG TERM SUCCESS LIKE THIS

also, stop asking for the system before you find success with your psychology, learn about money management, etc. because...

IT'S NOT THE SYSTEM THAT MAKES YOU SUCCESSFUL
That's a part of the equation, but even with a crappy system you can make a lot of money.


Here's my advise.

(1)FIND A TRADING STYLE THAT FITS YOUR PERSONALITY

This ensures that you will follow that system naturally.

For example, do you like playing poker and video games? This means you're more naturally inclined to short term trading.

There are two broad variables:
emotional style, cognitive style.
Emotional: do you seek stability or stimulation?
Cognitive: do you go with your head or your gut?

Look for general activities in your life that support your style.

Here's a small basic list:
Head, Stimulation: Develop trading system with programming.
Gut, Stimulation: Short term trading, always in market.
Head, Stability: Develops long term trading systems.
Gut, Stability: Long term market patterns on diverse portfolio.

Most of us are a combination of the two but you need to find a style that fits you. If you trade a style that DOESN'T fit you, then you will naturally self-sabotage and you will probably not succeed.

(2) FIND A MARKET THAT FITS YOUR TRADING STYLE

Even if you're a great trader, if you don't find the right market, you won't make much money. Well, since we're all in Forex I might as well say change that last statement from "market" to "timeframe".

If you're stability seeking, trade a higher timeframe.
If you're stimulation seeking, trade a lower timeframe.


If this sounds familiar, I've just been reading "Enhancing Trader Performance" by Brett Steenbarger, and just finished "Trade Your Way to Financial Freedom 2ed" by Van Tharp.

just to let you know there is nothing wrong with a method that produce 100K in a week. what matter most is the person who behind it. and what bret steenbarger and van tharp told you is true. somehow, for the time being, safe yourself of a few arguments by standing aside, keep on reading and keep quiet. many will not listened as they have yet to awaken. when they do, they will listen and may trade like a champion..but..are all of us destined to trade like a champion ??
........... have nothing to say..........
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