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

  • #661
  • Jan 21, 2008 7:08am Jan 21, 2008 7:08am
Quoting mike999
It is possible, I made 200k out of 15k....So it could be done, but you need to know what your are doing

Congratulations

How long did it take you to get from 15k to 200k ?
  • #662
  • Jan 21, 2008 7:39am Jan 21, 2008 7:39am
How you are saying this it looks so easy but how did you do it?
Or did you have had some luck?
annyway it's a really nice profit!
  • #663
  • Jan 21, 2008 8:25am Jan 21, 2008 8:25am
Quoting HidaBull
Congratulations

How long did it take you to get from 15k to 200k ?
a 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 you
  • #664
  • Jan 21, 2008 10:24am Jan 21, 2008 10:24am
Quoting mike999
a 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 you
Hi 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

Bernhard
  • #665
  • Jan 21, 2008 10:33am Jan 21, 2008 10:33am
Quoting behof
Hi 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

Bernhard
That is exactly what I'm doing now.

Totally naked, except sometimes with the volume indicator.
  • #666
  • Jan 21, 2008 10:52am Jan 21, 2008 10:52am
Quoting behof
Hi 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

Bernhard
Verry nice contribution to this thread!
I also find it verry important to think outside the box.
And when the moment is there you have to take the chance that has been given to you.
I know I will become succesfull in forex trading one day, when that day will come I don't know but in meanwhile I'm gonna learn as mutch as I can.
  • #667
  • Jan 21, 2008 8:35pm Jan 21, 2008 8:35pm
Quoting chaphar
I 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.
The 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:

Quoting mysticgenie
Chf: volatile w/ bearish bias
Eur: volatile w/ mild bullish bias
- 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.
  • #668
  • Jan 22, 2008 9:00am Jan 22, 2008 9:00am
Mystic,

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?
Trade Small. Be Patient. Learn to Survive.
  • #669
  • Jan 23, 2008 6:36am Jan 23, 2008 6:36am
Quoting 6pack
The 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.

Yes, it does help. I know that I need to learn more about the cot report and how to integrate it into my trading plan. Thank you for the information.
Seek and ye shall find, knock and the door will be opened.
  • #670
  • Jan 23, 2008 8:52am Jan 23, 2008 8:52am
Hi guys

Just updating my ODL H1 trades so far

Opening Balance 100,000
Balance Now 155,598
Equity Now 181,303
  • #671
  • Jan 23, 2008 9:02am Jan 23, 2008 9:02am
Quoting mike999
It is possible, I made 200k out of 15k....So it could be done, but you need to know what your are doing
How 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.
  • #672
  • Jan 23, 2008 9:36am Jan 23, 2008 9:36am
Quoting FXAnalytics
Mystic,

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?
Thanks for your interest---I am not trading that account now due to increased volatility & uncertainty---currently I am trading very conservatively---I do not plan to post my statements in near future due to security reasons---
But, I'll discuss occasionally my trades here if time permits---
GL/GT,
  • #673
  • Jan 24, 2008 12:39pm Jan 24, 2008 12:39pm
jwilliams:

No dumb luck in this thread. The Demark indicator was developed by one of the top traders in the world, and helps identify dynamic support and resistance zones. Automan just trades the indicator, while mysticgenie uses COT to filter the better trades. I use MTF stochastics and MTF MA's to get an idea of the larger trend, and then place limit orders above/below the indicator's lines.

My question to Automan: I missed the huge moves 12 hours ago that broke out on the H1 on a lot of pairs. Do you have a recommendation for how to trade missed breakouts? I'm waiting for a pullback to enter the trades but I haven't seen a tradeable H1 signal yet. Should I move to another timeframe to check for trades?

Thanks

DZ
  • #674
  • Jan 24, 2008 6:08pm Jan 24, 2008 6:08pm
Quoting Newtrader
How 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.
Every Friday afternoon [EST], the latest COT report is updated on the CFTC website: http://www.cftc.gov/marketreports/co...ders/index.htm.
Charts can be found here: http://www.futuresweb.com/cotmember/.

Mysticgenie: do you chart COT data [yourself], or use the link above, or any other COT charting service? Is there such a thing?
Thanks!
  • #675
  • Jan 25, 2008 12:13pm Jan 25, 2008 12:13pm
ZEUS

"My question to Automan: I missed the huge moves 12 hours ago that broke out on the H1 on a lot of pairs. Do you have a recommendation for how to trade missed breakouts? I'm waiting for a pullback to enter the trades but I haven't seen a tradeable H1 signal yet. Should I move to another timeframe to check for trades?"

Sometimes momentum is so strong that there won't be pullbacks.

some people wait for pullback after the break, then trade on the next open.

so it's quite subjective. if u wanna play it safer, trade on pullbacks..

i am going to update my trade results for this week...boy wat an ending for this week! i'm going to bed now..once i have done my analysis..i will update them

cheers!
  • #676
  • Jan 25, 2008 2:18pm Jan 25, 2008 2:18pm
Quoting automan
so it's quite subjective. if u wanna play it safer, trade on pullbacks..
I usually wait for a pullback, and then enter. If there's no pullback, I won't open a position. It is safer from the perspective of having a smaller S/L, and it is also more profitable, because you have more to go.
However, you don't know if a pullback is indeed a pullback - or actually a reversal [until after the fact]. So if you trade only pullbacks, you might be increasing the chances of being dragged the wrong way by a reversal - which in essence may increase your overall risk: you're not taking the trades with the greatest momentum, those that don't look back. You only take the ones that "hesitate" - but at a better price.
I haven't tested this - anybody have any thoughts on the issue?
Thanks!
Enjoy your weekend!!
  • #677
  • Jan 26, 2008 2:38am Jan 26, 2008 2:38am
I have posted my trading results (ODL H1). Feel free to check it out.

GBP crosses is showing alot of potential.
  • #678
  • Jan 26, 2008 4:34am Jan 26, 2008 4:34am
hi guys,

my first post here...a great thread.So the new COT rport came out and what can i see is that :
EUR : very bearish next week
JPY : bulish next week.

so its is maybe a good idea to sell eur/usd and especially eur/jpy in the coming week.I would like to ask the master of the COT report....How do you establish whether there is a volatility or not?Is this according to the increasing open interests?
thanks and have a nice weekend !
  • #679
  • Jan 26, 2008 8:34am Jan 26, 2008 8:34am
i posted a nice trade setup for Demark trade that i took last week for this monster...go check it out..
  • #680
  • Jan 26, 2008 9:07pm Jan 26, 2008 9:07pm
Dear Folks,
Good to see quite a bit of interests around COT report lately--- There is no hard & fast rule of interpreting this report---this is entirely discretionary--- one report is liable to different interpretations, known as, inter-observer variability---the trick is to see this report in the light of economic events & TA--- here goes my interpretation of COT report for next wk--- this is not a trade recommendation---use your discretion & proper MM

Cad: volatile w/ bidirectional movement

Chf: volatile w/ bearish bias
Gbp: bullish
Jpy: bearish
Eur: bullish bias

Aud: bullish bias

Nzd: bullish bias


Wish you all a very successful wk!


GL/GT
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