My Journey to a $1,000,000 | Page 2 | Forex Factory

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My Journey to a $1,000,000

  • #21
  • Mar 2, 2007 1:28am Mar 2, 2007 1:28am
What a controversy I have caused. LOL. Just a man with a dream. Thank you to those wishing me good luck. I thought it would be best to be fully scrutinized so I could get the entire feeling of being in the public eye especially on a forum as highly regarded as this.
  • #22
  • Mar 2, 2007 1:44am Mar 2, 2007 1:44am
Quoting HowManyPips
What a controversy I have caused. LOL. Just a man with a dream. Thank you to those wishing me good luck. I thought it would be best to be fully scrutinized so I could get the entire feeling of being in the public eye especially on a forum as highly regarded as this.
Hey my friend! I hope that your journey is full of success and many pips. Your well supported and we look forward to watching someone with great expectations succeed. Now go make those pips!
  • #23
  • Mar 2, 2007 3:11am Mar 2, 2007 3:11am
All the best on your journey! You definitely got the fair share of attention...Thanks to your journal title that includes the magic figure of "$1,000,000".

If you've called your journal simply as "My Journey", I doubt it will stir the pot...

But anyhow, all the best and may you have the greatest journey to the best of your abilities...


Quoting HowManyPips
What a controversy I have caused. LOL. Just a man with a dream. Thank you to those wishing me good luck. I thought it would be best to be fully scrutinized so I could get the entire feeling of being in the public eye especially on a forum as highly regarded as this.
  • #24
  • Mar 2, 2007 3:49am Mar 2, 2007 3:49am
hang on there,1 mil will eventually come true...i like the dream to be actualise too! wish all traders good luck!
  • #25
  • Mar 2, 2007 5:22am Mar 2, 2007 5:22am
SunTrader

The problem discussed here is not if he can do it or not.
The problem is not how many ppl make it, or how many ppl can learn the skills.

The question here, is that, if he is good (that means if he get passed the "selection" fase, and get into the percentage who makes it) HE CAN DO IT, because mathmaticaly, as the oposite of you said, he is not betting in a 1 to 100 million chances. As i explained before, once he get at least 100 pips a month, the millionaire goal can be acomplished in less than half decade.

How can you ended on forex if you dont even have future vision about the power of re investments.

And by the way aicccia, thats a good intervention, because this remember us the mythic theory of the professors who say that its impossible to overcome the financial markets, but we see year after year, the Wall Street Companies offering Millions in prizes in the christmas to the employies.
  • #26
  • Mar 2, 2007 7:47am Mar 2, 2007 7:47am
3/02/07
EUR/JPY
Entry - Sell 154.74
Result - Stopped Out +64 or 8.7%
Missed TP by one pip at 153.80
  • #27
  • Mar 2, 2007 8:19am Mar 2, 2007 8:19am
Quoting HowManyPips
3/02/07
Missed TP by one pip at 153.80
Darn, next time put tp at 153.75

I wonder is that a demo account or live?
Because if it's demo we probably have plenty of millionares around here
  • #28
  • Mar 2, 2007 8:23am Mar 2, 2007 8:23am
Quoting irusoh
Darn, next time put tp at 153.75

I wonder is that a demo account or live?
Because if it's demo we probably have plenty of millionares around here
It was a sell, and it was live.
  • #29
  • Mar 2, 2007 8:55am Mar 2, 2007 8:55am
I've had some thoughts about posting live trades. Not that anyone will take them seriously at this point yet, but discretion is taking over in my mind. My biggest disappointment will not be that I lose money but that other people will lose money on my part by taking the same trades. Maybe somewhere down the line I will begin posting live trades but for now I'm fine just posting results.
  • #30
  • Mar 2, 2007 9:48am Mar 2, 2007 9:48am
good luck!!
CRAIGSLIST BARTERING CHAMPION
  • #31
  • Mar 2, 2007 11:17am Mar 2, 2007 11:17am
Quoting HowManyPips
I've had some thoughts about posting live trades. Not that anyone will take them seriously at this point yet, but discretion is taking over in my mind. My biggest disappointment will not be that I lose money but that other people will lose money on my part by taking the same trades. Maybe somewhere down the line I will begin posting live trades but for now I'm fine just posting results.
one of the pitfalls i find about online journals is exactly that..you get self conscious about your trades cause of other people and their smart comments. But at the same time it keeps you honest, so it's a double edge sword effect. Sometimes I don't even know why people keep journals. I mean we have excel, so is it really for the purpose of sticking to your plan???...

My advice it..screw other people. Who cares if you lose it (you shouldn't though if you follow a sound money management ). Dont get overexcited aobut it..yea it's a million dollars..but keep the winners and losers under the same reaction. If you react to losses and winners too much, you will be affected by others opinions and become very emotional trader.

So good luck! and trade it like a business
  • #32
  • Mar 2, 2007 11:26am Mar 2, 2007 11:26am
Don't give in to what others may want you to do. I say do what you stated you were going to do at the beginning of the thread and stick to that. We can all figure out your trades when they are posted.
Even if you decide to post live trades, those who take the trades are doomed to fail because they are already late on the entry.
Best of luck, you will get there, just be patient
  • #33
  • Mar 2, 2007 11:36am Mar 2, 2007 11:36am
just same as my motto.nothing is impossible,but you have to keep the faith!!!If you really try hard,i believe you will success!!good luck
  • #34
  • Mar 2, 2007 11:38am Mar 2, 2007 11:38am
So, made 8.7% on $300 or $303, that's about $26. Went up 64 pips so that's about 40cents per pip, which is 0.04 of a standard lot or 0.4 of a mini lot or 4 micro lots. So when you get to $300,000, you will need to bet 40 standard lots to make the same trade.
Well it's doable I guess, but with higher number don't things slow down a bit?
  • #35
  • Mar 2, 2007 12:17pm Mar 2, 2007 12:17pm
Quoting irusoh
So, made 8.7% on $300 or $303, that's about $26. Went up 64 pips so that's about 40cents per pip, which is 0.04 of a standard lot or 0.4 of a mini lot or 4 micro lots. So when you get to $300,000, you will need to bet 40 standard lots to make the same trade.
Well it's doable I guess, but with higher number don't things slow down a bit?
Well, I'm not exactly sure what you're saying here but I'll post exactly what's happened so far to clarify.

1st trade +22 or $11
2nd trade +64 or $27.34
Total balance: 338.34

Trades have been taken at 0.5 mini-lots or as close to 8% as I can get.
I imagine I'll be on half a mini-lot for some time before I increase the lot size.
  • #36
  • Mar 2, 2007 12:33pm Mar 2, 2007 12:33pm
Quoting HowManyPips
This will chronicle my journey to a million dollars over the course of a lifetime before the public eye. As ridiculous as it sounds, I shall go even further by stating I am starting with a $300 mini-account. Being that is what I can afford to lose at the moment. All trades will be taken with 8% margin or less. I may or may not begin using an EA for automated trading in the near future, until then these are all manual trades.
Good luck. Nothing is impossible if you truly believe in it.

See you at the top
  • #37
  • Mar 2, 2007 1:49pm Mar 2, 2007 1:49pm
3/02/07
EUR/USD
Entry - Buy 131.75
Result - Closed for weekend +19 or 2.8%
  • #38
  • Mar 2, 2007 3:19pm Mar 2, 2007 3:19pm
Quoting Warper
There is just 1 thing to retain here. Before you start trading you must have at least to know the potencial of the exponencial in mathematics.

I confess that im relatively new at forex, and i cant say how will be my performance in the future, but... one thing i can say... There are ppl who gets hundreds of pips per month and its possible to be a millionaire just getting 50 to 150 depending of the proportion between the total available, or in other words depending of the money management rules of the person.

Example. Imagine a guy who in every trade uses 1/10 of all of his money, and gets 150 pips per month (average).

The proportion from the total to the next month is 1.15. Now lets see..

300 x (1.15^60months) "5 years" = 1 300 000 more or less...

You can try other examples like investing 1/5 and earning just 100 pips.. that will get you a 1.2 progression per month or try... 1/3 with just 50 pip = 1.16

200 pips.. with 10 percent.. 1.2 progression.

Lets take a look at your example. If you use 8 percent of your total, and get 150 pips per month, at least you have more than 200 000 dolars in 5 years, but if you get 200 pips per month with the same investment you will have more than 2 million.

The other guy is saying that with 2 percent per day and you will get millionaire in a life time. But lets see... 300 x (1.02^365) "one year" = 400 000... Something its telling me that you will get there sooner with this progression lol.

So you want one million in a life time? Become a moderate/good trader, and you will get that sooner than you think. 1/10 per trade ... 150 pips month... 5 years ... more than 1 million. Dont believe me? Take the calculator and start doing the math.

The explaination is very simple...

Some traders have the gift.. the power to predict pip avalanches in their way. But i firmly believe that many of them have the stupidity to withdraw the profit every and every month, and the consequence is earning some thousands of dollars at the maximum because they dont re invest the profit.

So, dont pay no attencion to the laughs because they probably didnt even got beyond the math class.

Get rich and THEN withdrawn the money.

Want to know the power of a exponential progression?

Try to double 1 cent every day for one month. I didnt say 1 dolar i said 1 CENT.

At the midle of the month you have a few hundred dollars in value, whats that? nothing.. few bucks.., but by the end of the month you have 10 Million Dollars. Its like an hidden goal. The person thinks that its not getting any progression but dont really know whats coming.

So good luck.

I didnt said i can do it, im just saying that its FAR from impossible.

By the way. With the method i gave you.. try to discover what would happen if you get just 10 pip per month for 50 years... (600 months reinvesting profit)

And then try the same with 15 pips.

I help you... with 10 pip you have progression of 1.01 and 1.015 with 15 pips assuming that you invest 1/10 every time.

Well what if i say that 300 x (1.01^600) = 117 000 and 300 x (1.015^600) "just more 5 pip" = 2 000 000 ?

Exponential my friend.

The calculation its not entirely accurate but believe me, the results dont get very far from this ones. The general idea is that it makes a huge diference with stupid spender ppl who burns out the profit and ppl who waits to get a real bulk and than start spending.
There is one massive underlying assumption here...that you can win for 60 straight months in a row. No one is that lucky. There will always be drawdowns. As well, with very limited starting capital and using a mini account, even little swings can eat up a large portion of the account. I've seen it hundreds of times here.."well, all I need to do is make this many pips, this many times and I will become super rich". I'm not saying it's not possible. The math, yes, is there. However, a small account like this may not withstand the swings at the beginning. With proper money management, you better believe it, making a million is very possible, but a roll that small my not withstand the swings before the bust.

THE HUN.
  • #39
  • Edited Mar 5, 2007 12:38am Mar 4, 2007 9:03pm | Edited Mar 5, 2007 12:38am
3/04/07
USD/CHF
Entry - Buy 121.75
Result - Stopped Out +1 or 0.2%
  • #40
  • Mar 5, 2007 12:34am Mar 5, 2007 12:34am
3/04/07
USD/CHF
Entry - Sell 121.54
Result - Closed +16 or 2.2%
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