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2 Million In 2 Years With $1000 Start Up- Its Possible

Quoting howdytest
I fail to see a question...I only see you preaching about the wonderful goodness of trading.

The rookie q&a subforum already has enough "10 pips a day", "1 pip a day", "how i made bajillion $$$", etc....For every legit question, there's 10 BS threads.
Common guys,

Have a heart.

I know its been a long weekend. I myself had a brother in law almost pass away and just getting out of Critical condition in the hospital.

But still, there is no reason to go and ...

Well never mind,

To answer your question,

It is usually rookies who ask the question..

How much is it possible to make with x amount in x amount of time.

This is why this post is in this place. To give hope and encouragement and posibilities.

I myself was encouraged yesterday as I listened about how Roland Campell once took a $5000 account and turned it into $175,000 in 6 months (traderinterviews.com). This was a 3500 % return in 6 months. Of course its not what he averages, but he does do extremely well.

This is not a thread promising you some garbage but merely stating the possibilities if successfully implementing a certain scalping method.

Im sorry if it offends you.


Sincerely,

Mike Lewthwaite
You're not going to accept any advice that isn't congruent with your already preconceived notions. But, i'll waste my breath...

My turn to preach:

As much as proper MM is important. As important as the principles are, nothing can ever replace doing. The logic and math you're focused on is only 10% of the entire picture. The rest of the picture is being successful. Your previous post, on first read, was a great tribute to determination and arrogance. But the sad part is that once i read it again, i realized that you're not successful right now and every sentence in your post is an excuse as to why you're not so.

You seem to prefer pretending you're successful by creating these great scenarios, "2 million in 2 years with $1000", instead of facing reality. Don't get me wrong, you may very well grow and become a profitable trader. I believe anyone can. But this mindframe of "I WILL be profitable, who cares what anyone says" will not change your current status: nonprofitable.

When i do anything, i always ask myself, "what did i do wrong?", "what can i do better?", "why did that happen?", etc. When your mind frame aims to correct mistakes instead of rationalizing a mistake as a hickup on the road to success, you'll grow. And the only mind frame i get from you is "I'm on the highway to success, stuck in a traffic jam". Acknowledge that you're not perfect.

Quote
You are correct, some day I must bring it. And bring it I will some day. I am not impulsive neither am I impatient. I am a brick layer. 1 by 1 and this building is sure to be built.

Build yourself up too much and you'll fall down.
Quoting howdytest
You're not going to accept any advice that isn't congruent with your already preconceived notions. But, i'll waste my breath...

My turn to preach:

As much as proper MM is important. As important as the principles are, nothing can ever replace doing. The logic and math you're focused on is only 10% of the entire picture. The rest of the picture is being successful. Your previous post, on first read, was a great tribute to determination and arrogance. But the sad part is that once i read it again, i realized that you're not successful right now and every sentence in your post is an excuse as to why you're not so.

You seem to prefer pretending you're successful by creating these great scenarios, "2 million in 2 years with $1000", instead of facing reality. Don't get me wrong, you may very well grow and become a profitable trader. I believe anyone can. But this mindframe of "I WILL be profitable, who cares what anyone says" will not change your current status: nonprofitable.

When i do anything, i always ask myself, "what did i do wrong?", "what can i do better?", "why did that happen?", etc. When your mind frame aims to correct mistakes instead of rationalizing a mistake as a hickup on the road to success, you'll grow. And the only mind frame i get from you is "I'm on the highway to success, stuck in a traffic jam". Acknowledge that you're not perfect.



Build yourself up too much and you'll fall down.

I appreciate your last paragraph.

I am seeking success rather than profitability right now.

To me success is getting one step closer to my goals each day.

I currently own a specialty cleaning company. www.PurpleRainCleaning.com

I did not get profitable over night. Yet every day that I got closer to my goal I considered a succesful day.

I believe that I am having success because each day I get better and better. Not because I have some hocus pocus positive mental attitude that regardless of the facts I will be successful.

I constantly ask the questions you refer to in your last paragraph and these help me to get more and more proficient in my trading. As said, each time I come to the answer to one of these I consider myself successful.

I truly am nothing. I never meant to build myself up if that was what was portrayed. I am only a man.


Sincerely,


Mike Lewthwaite
Quoting Pip Ventures
...
This (the developement of my system including plan for returns) has gotten me very far.

It has allowed me to focus all my energies in the direction which will bring the greatest rewards.

I am not one to jump into things without thorough planning so I have blown demo accounts instead of real ones.
This speaks volumes about your future.

Quoting Pip Ventures
If you have seen some of my posts you know that I have gone through several systems and have finally arrived at the conclusion that scalping based on PA only is the method which works best for me.
Wow! SOooo... you are getting ready to get "Real" and go hunt some Scalps?
That's tantamount to Shark Fishing from a Belly Boat.

{warming up Taps on the bugles}

Quoting Bemac
This speaks volumes about your future.
This shows a slight ignorance about the beginnings of most succesful traders.

Read through Market wizzards or any other biographies and you will see that most if not all succesful traders blew an account or two when they began trading.

Blowing an account is not a sign of everlasting doom to failure.

So all you newbs, take heart.

Its ok to blow a demo account or two while your learning.

Just make sure you are profitable consitently on your demo (at least 3 months) before you put any of your hard earned cash in!


Mike Lewthwaite
Sorry, I didn't realize you had Read about being a successfull Trader. I'm sure all will be fine then.

Good luck. seriously.
hello all


I'm a newbie and would like to ask more experienced traders how difficult
it would be to get 6 pips profit every day without losing a trade.
If that isn't that hard to do, then how important is good Money Management?
If it is possible to get 6 pips profit daily & without having to use good Money Management.....you could " bet the farm " every time you trade.
Just " food for thought "
Thanks in advance for your comments.
Adios
'57 Nomad
Quoting Nomad
hello all


I'm a newbie and would like to ask more experienced traders how difficult
it would be to get 6 pips profit every day without losing a trade.
If that isn't that hard to do, then how important is good Money Management?
If it is possible to get 6 pips profit daily & without having to use good Money Management.....you could " bet the farm " every time you trade.
Just " food for thought "
Thanks in advance for your comments.
Adios
'57 Nomad
It is impossible to never loose a trade.

THE MARKETS ARE RANDOM

It is possible to gain an edge and be consistently right more then you are wrong.

By doing this you can average 6 pips / day but not without loosers.

You never bet the farm because THE MARKET IS RANDOM

Happy Trading!


Mike Lewthwaite

P.S Even if you knew 100% that a trade was going your way, you could not bet the farm. There is only 50:1 leverage for large trades. So your pip value would have to be very high and could only represent 5% of you account max.
Pip Ventures,
I'm new to this so could you explain to me or direct me in the direction of an answer.
At what point or amount does the leverage drop in a mini account from 200/1 to 50/1 ?
At that point or just before, couldn't you separate the account and open more accounts to be able to trade with 200/1 leverage ?
I'v been playing with this 6 pip theory for a while but I'm only interested in getting 6 pips without having a loss.
the count now is 109 trades.
Is this beginners luck ?
many thanks
  • Post #30
  • Quote
  • Edited 1:36am Jul 28, 2008 1:24am | Edited 1:36am
Quoting Nomad
Pip Ventures,
I'm new to this so could you explain to me or direct me in the direction of an answer.
At what point or amount does the leverage drop in a mini account from 200/1 to 50/1 ?
At that point or just before, couldn't you separate the account and open more accounts to be able to trade with 200/1 leverage ?
I'v been playing with this 6 pip theory for a while but I'm only interested in getting 6 pips without having a loss.
the count now is 109 trades.
Is this beginners luck ?
many thanks
Nomad,

When you speak of betting the farm I am assuming your farm is at least worth 100,000.

This equals 17,000 / pip. you would be trading 170 Million / trade.

When you get into trading these ammounts (above 50 mil) then the brokers (ECN'S cause you will not be with a MM at this level) are actually putting their money into these trades and taking a risk.

Most brokers will not give you 100 nevermind 200 : 1 leverage because they are not going to risk that on your trade.

Max you will get is 100:1 (Dukas Copy) but most only offer 50:1

So unless you have 17 million in forex trading capital, this will not be possible for you.

Also,

If you are getting 6 pips 109 times in a row it is because you are not using stop losses. And when your loss comes it will be a tragic one.

Not a good way to play the market.

Happy Trading,

Mike Lewthwaite
  • Post #31
  • Quote
  • Last Post: Jul 28, 2008 6:10am Jul 28, 2008 6:10am
Quoting Ronald Raygun
I think everyone here means to say that we are all well aware of the power of compounding returns.

Exactly!
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