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Does anyone trade (bet!?) like this?

  • #1
  • First Post: Aug 8, 2008 11:43am Aug 8, 2008 11:43am
"...here is another smart high risk method: in forex you can only lose your balance (unlike in futures), so open a $1000 account, put 90% on one highly leveraged position with a 50 pip stop and go to sleep. you either make $5000 or lose $1000 overnight - a very good risk to reward. if your stop got hit, you get another roll of the dice.
if you win, get your money out fast and open with five different brokers. do it all again, but this time open two big trades in one direction and three in the opposite direction so you are somewhat hedged. lose $3000 and make $10,000 overnight. (this post should probably be in the "trading systems" section)"

This is part from one post to misticgenie trading strategy. I just would like to know is anybody trading this way.
  • #2
  • Aug 8, 2008 1:51pm Aug 8, 2008 1:51pm
I guess mysticgenie is
  • #3
  • Aug 9, 2008 5:06am Aug 9, 2008 5:06am
If 1k is equal to 0.1% of my family capital, I won't hesitate.
  • #4
  • Aug 9, 2008 5:23am Aug 9, 2008 5:23am
This was how livermore traded back in his time. He plunks down his margin, and it gets cut off when he loses it. In essence, it's all risk reward and money management.
  • #5
  • Aug 9, 2008 7:19am Aug 9, 2008 7:19am
If you put 1k into your acount and use the most Leverage you can get you'd still not lose 1k due to the margin call. You can never get you get your balance down to 0. You'd be left with 200 something dollars after the MC.
Wouldn't it be the same if you take a 30 Pip SL with 150 Pip Take Profit?
  • #6
  • Last Post: Aug 9, 2008 7:46am Aug 9, 2008 7:46am
Quoting jonathan33
"...here is another smart high risk method: in forex you can only lose your balance (unlike in futures), so open a $1000 account, put 90% on one highly leveraged position with a 50 pip stop and go to sleep. you either make $5000 or lose $1000 overnight - a very good risk to reward. if your stop got hit, you get another roll of the dice.
if you win, get your money out fast and open with five different brokers. do it all again, but this time open two big trades in one direction and three in the opposite direction so you are somewhat hedged. lose $3000 and make $10,000 overnight. (this post should probably be in the "trading systems" section)"

This is part from one post to misticgenie trading strategy. I just would like to know is anybody trading this way.
in 2nd round, all 5 orders can lose, too! think careful, please!!
(that is why "reversing the signals" does not working in bad eas.)
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