DislikedIt is possible, I made 200k out of 15k....So it could be done, but you need to know what your are doingIgnored
Congratulations
How long did it take you to get from 15k to 200k ?
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
Dislikeda month, I traded big when i was confident and traded small when i wasnt so confident. And always always always use the stop loss. Dont let your ego or ur greed get the best of youIgnored
DislikedHi Mike !
First of all congratulations regarding your success
I think beside all the money management rules who always pray for
only risking 1 or 2% of your account in ANY trade its good and reasonable
to think out of the box which you did !!!
For a beginner its an absolute must to only risk max. 1% of his entire
account to stay in the game !
I had tons of losses at the beginning and made horrible mistakes regarding
money management.
I blew several smaller accounts which was personally a tuition fee
Some time ago I met a professional bank trader during my vacation in
southern france.
He told me the same you mentioned here.
He traded from larger time frames (weekly / daily / 4h ) and waited as
a sniper for the big run.
When the chance comes he said I fill my boots with tight stops and
let it run !!
He only traded 1-2 times a month and has a fine outcome
I visited his trading desk and what did I see....
A naked bar chart and a simple rsi indicator......
So mike your advice hits the nail on the head !
1. Have confidence
2. Have patience
3. Wait for your chance as a lion
4. Adjust your risk ( If big then very big !! )
Just my 2 cents
BernhardIgnored
DislikedHi Mike !
First of all congratulations regarding your success
I think beside all the money management rules who always pray for
only risking 1 or 2% of your account in ANY trade its good and reasonable
to think out of the box which you did !!!
For a beginner its an absolute must to only risk max. 1% of his entire
account to stay in the game !
I had tons of losses at the beginning and made horrible mistakes regarding
money management.
I blew several smaller accounts which was personally a tuition fee
Some time ago I met a professional bank trader during my vacation in
southern france.
He told me the same you mentioned here.
He traded from larger time frames (weekly / daily / 4h ) and waited as
a sniper for the big run.
When the chance comes he said I fill my boots with tight stops and
let it run !!
He only traded 1-2 times a month and has a fine outcome
I visited his trading desk and what did I see....
A naked bar chart and a simple rsi indicator......
So mike your advice hits the nail on the head !
1. Have confidence
2. Have patience
3. Wait for your chance as a lion
4. Adjust your risk ( If big then very big !! )
Just my 2 cents
BernhardIgnored
DislikedI don't know much about the cot report, kinda new to me. Do the numbers also relate to currency pairs such as gbp/jpy, eur/chf, etc. Thanks in advance.Ignored
DislikedChf: volatile w/ bearish bias
Eur: volatile w/ mild bullish biasIgnored
DislikedThe numbers relate to commitment of traders to buy or sell the currencies in the report against US$. But if you conclude from the report that, for example:
- then you can assume that eur/chf might see some more buying action this week.
To learn more, read thru this thread, investopedia.com articles, etc.
Hope this helps.Ignored
DislikedIt is possible, I made 200k out of 15k....So it could be done, but you need to know what your are doingIgnored
DislikedMystic,
You must have missed my question earlier; can we see the 100k account statement again to see how its doing? It's been about three months since you first posted and I would excpect that the balance has grown substantially if the system is still working. Sure would be nice to track it over the long haul, say a year or two to really get a feel.
Do you think you could do monthly statement updates to follow along?Ignored
DislikedHow do you get a copy of the COT report?
I subscribe throught the CFTR and the COT report includes Futures and Options only or should I say it contains everything except curriencies.Ignored
Dislikedso it's quite subjective. if u wanna play it safer, trade on pullbacks..Ignored