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Have you ever turned $250 into an account > $1000

  • #21
  • Mar 4, 2008 4:24pm Mar 4, 2008 4:24pm
Raised 10K to 110k in ten days
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  • #22
  • Mar 4, 2008 9:01pm Mar 4, 2008 9:01pm
Quoting akiva1234
Raised 10K to 110k in ten days
Live trading or demo trading?
  • #23
  • Mar 5, 2008 1:42am Mar 5, 2008 1:42am
Demo, I bet. Try that again. See if you don't reduce $10k to zero in ten days. Then try it again. And try it once more. Then repeat for another 2 months. If you can do that consistently then you're a genius and should put everything
you own and probably your parents' estate into FX and trade. You'll be a billionaire in 10 days.

Seriously, this lack of money management is down to greed. It's the stuff of beginners (maybe you're not a beginner - I don't know your background - but it is what beginners do). It's fine to dream about riches but to risk everything to achieve it tomorrow is very likely to end in tears.
The market reveals who we really are...
  • #24
  • Mar 5, 2008 2:35am Mar 5, 2008 2:35am
The picture if from a demo account...i just took big lots for fun
In my live account i'm trading with mm, taking 2~3 positions a week (success rate: +90% in 2 years...)
  • #25
  • Mar 5, 2008 2:45am Mar 5, 2008 2:45am
That's cool, then, keep up the good work.
The market reveals who we really are...
  • #26
  • Mar 5, 2008 3:08am Mar 5, 2008 3:08am
Quoting shadowninja
1% rule. Assuming every trade is a success.

£100 means you only risk £1. Now assuming a 2:1 Reward:Risk, every trade gets you £2. Let's say you do one a day... It'll take you 50 working days to double your account. That's approx 2 months per £100. Now in theory you could now risk £2. You can see it will take a while. Maybe not 500 years but it isn't going to happen quickly.

My personal plan for World Domination is to trade with a small amount, then slowly introduce more money to my account, to a point where (1) I am consistently profiting (drawdowns included) and (2) I can earn a reasonable living. (I don't know if I've conquered myself yet so why let the markets prove it to me that I haven't.)
Hmm.. Actually, if you earn a net 1% per day and do that for 20 working days per month, then you're up to 122%. In a year - 10.89 times your deposit. In 3.5 years - 4,265 times your deposit, or for 250$ that's 1.066 M$. Now you just have to make 1% net per working day... Oh and, support yourself somehow for that time period without withdrawing for at least 3 years.
On the path to Enrichment.
  • #27
  • Mar 5, 2008 3:09am Mar 5, 2008 3:09am
If you see fxcm, fxdd and IBFX trading competition, you will see many traders growing their real account for 100%-1000% .
  • #28
  • Edited 6:15am Mar 5, 2008 3:22am | Edited 6:15am
Quoting forexwoman
If you see fxcm, fxdd and IBFX trading competition, you will see many traders growing their real account for 100%-1000% .
Actually it's not many traders, it's just very few and over relatively short time periods with few trades - so they may've just been lucky. You have to be REALLY GOOD or REALLY CRAZY to trade like many of these winners are. Plus you'll see that between the real competitions - where on FXCM people trade their own money and there are phousands of them, still the winner is ussualy up about 300+% per month (which is profit net so it's actually 400+%) while in the virtual competitions with fewer participants the winner is up by like 1,000% and more in two weeks, which means they we're betting and speculating freely as it's not their own money.

What's the point of taking big risks anyway ? If you're just lucky you'll loose it back - like a casino. If you're really good you can still loose it all if you take big risks but with smaller risks you can earn huge in the longer term. In that above calcualtion I made of 1% net profit per working day, if that turns into 2% then you'll make the same 1+MS from 250$ in just 1 year and 9 months. So what's the hurry. Plus if you take big risks, you'll need to withdraw a lot of money in the process because you know you might loose which masses up the whole proportional growth thing..
On the path to Enrichment.
  • #29
  • Mar 12, 2008 2:05pm Mar 12, 2008 2:05pm
Just wondering who you feel is better out of the 3 brokers you mentioned in that contest?
  • #30
  • Aug 31, 2008 5:49am Aug 31, 2008 5:49am
I recently turned my start capital of $50 in my micro account into $150 in two weeks, i then added $850 into it 10 days ago and i now have $1700 in my account. It can be done but you have to be careful by not opening too many positions at once and knowing the best times to get in and get out.
  • #31
  • Sep 1, 2008 12:59am Sep 1, 2008 12:59am
For me, i still experimenting an EA that I've developing.

with microlot: USD50 had become USD300 in 1 week but that is with big RR.
Quite dangerous RR, just for experiment with live account.

Now, I am adjusting the setting so that everyday I can acheived ~0.5to1% return without loss. So far so good.

Just today, the EA close at profit USD16

When the EA consistently give results with everyday profit, I think everybody can make the same profit.

I compare the backtest and mylive account, the results is not much different. So in developing the correct setting, I using strategy tester with 90% modelling to get the feeling of consistency of the EA over different market time.

Just give me any date in 2008...I will test that day results with my EA.
  • #32
  • Sep 17, 2008 6:57am Sep 17, 2008 6:57am
with 250$ account, you'd need around 750 worth of pips in minilots, say if you can average 37.5pips a day, in 20 trading days of a month 250$ can go to over 1000$
  • #33
  • Jun 15, 2019 9:25pm Jun 15, 2019 9:25pm
Quoting nadz
Is there someone here who have turn a $250 account into$1000 or more.
After how long?
Gig-B
  • #34
  • Jun 16, 2019 9:16am Jun 16, 2019 9:16am
No, I can't say that I have but I imagine others have.
  • #35
  • Jun 19, 2019 10:52am Jun 19, 2019 10:52am
Yes, but it was feinitely not on first deposit and whole damn thing to learn took me like a year of solid part time activity with all that things you are now describing anyway, but be sure to check everything like that. I am reading other people experience as well. All sounds like it's not that real to obtain any money from them in the first place, does it sounds good really to you ? It's for sure takes time for anyone with average knowledge, but why do you interested ? Do you have like last $250 or so ?
  • #36
  • Jun 22, 2019 9:41pm Jun 22, 2019 9:41pm
Try on a $1000 demo account backtest or forward test but i am still working on it.

Thanks
Attached File(s)
File Type: ex4 Gigabyte EA.ex4   38 KB | 311 downloads
Gig-B
  • #37
  • Jun 23, 2019 1:40am Jun 23, 2019 1:40am
Well, I do it on a regular basis, look at my last 5 trades...

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The only thing is that I do exactly the reverse almost as fast but I'm working to improve that.

There is only one thing you need to do for that, which is to find a trade setup that has a risk reward of 1 to 4 or better and have the patience to wait for that setup and then, execute it religiously in a binary fashion, I mean, either you win or you loose, BE being not an option.
Simplicity is the Ultimate Sophistication.
  • #38
  • Jun 23, 2019 9:49am Jun 23, 2019 9:49am
Quoting Gigabyte
Try on a $1000 demo account backtest or forward test but i am still working on it. Thanks {file}
How is it working so far?
  • #39
  • Jun 23, 2019 8:59pm Jun 23, 2019 8:59pm
Quoting dznmrd
with 250$ account, you'd need around 750 worth of pips in minilots, say if you can average 37.5pips a day, in 20 trading days of a month 250$ can go to over 1000$
This type of math is easy to calculate but the reality is different!
  • #40
  • Jul 24, 2019 7:21am Jul 24, 2019 7:21am
Quoting nadz
Is there someone here who have turn a $250 account into$1000 or more.
I had a friend who did in one day, lost it the second day. He used 1:400 leverage. that is, he risked his whole account for one trade. When he tried to do the same following day he lost every penny.
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