Challenge #1. From one hundred to one million. Attempt #1 | Forex Factory

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Challenge #1. From one hundred to one million. Attempt #1

  • #1
  • First Post: Nov 9, 2008 4:48am Nov 9, 2008 4:48am
This is not a joke.

I will try to make a million from one hundred. There is no time limit. I will post the trades regularly here.

Some would say I am mad. Some would say this is not possible. Here is the thing never say that. This thread might be the proof.

The theory. If one can make 1% a day it takes approx. 753 days to reach your first million if one uses a micro or micromicro account where one can fine tune the money management. Say can risk only 2% of 100£. or 2£ on 60 pips. That is 0.03333£ per pip.

I will have fun.

Ps. Disclaimer. This is my own risk. I might not post all the trades just the results. The reader follows all this stuff at his own risk!
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  • #2
  • Nov 9, 2008 6:39am Nov 9, 2008 6:39am
Yes you can !!!!
  • #3
  • Edited 7:49am Nov 9, 2008 7:24am | Edited 7:49am
Quoting tunera
Yes you can !!!!
Thanks tunera!! We will have fun then. It is all about discipline. Right?

This is what I will post. A live account by the way.
Attached Image
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  • #4
  • Nov 9, 2008 7:25am Nov 9, 2008 7:25am
I am cheating it is already at 118.57. Never mind...
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  • #5
  • Nov 9, 2008 7:57am Nov 9, 2008 7:57am
A few other stuff.
I trade only EU.
Trade mainly off from the 1h chart because there is no confusion. 1 hour is one hour.

And here is the setup...
Attached Image (click to enlarge)
Click to Enlarge Name: the_setup.gif Size: 35 KB
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  • #6
  • Nov 9, 2008 8:20am Nov 9, 2008 8:20am
from the chart you posted looks like eurusd is ready to go down, but if it will be not able to make a good down-swing be ready to buy, and cover at 2840 area !
  • #7
  • Nov 9, 2008 8:41am Nov 9, 2008 8:41am
I belive nothing imposible espacialy with exallent managment
Never sell @ lower upward channel unless breacked and vise versa .
  • #8
  • Nov 9, 2008 9:59am Nov 9, 2008 9:59am
Quoting tunera
from the chart you posted looks like eurusd is ready to go down, but if it will be not able to make a good down-swing be ready to buy, and cover at 2840 area !
Yep. 1.26898 is the area approx where it can go... down. I have no clue after that.
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  • #9
  • Nov 9, 2008 11:55am Nov 9, 2008 11:55am
Oh yes. And if this works I am going to donate 10% to a charity to support children. We will decide here which one if the experiment is successfull.

That is all. Day 1 starts tomorrow.
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  • #10
  • Nov 9, 2008 12:03pm Nov 9, 2008 12:03pm
I'm with you, remember, the biggest of the challenge is about psychology, anyway wish you the best!

I'll start a journal too tomorrow, it's a little different from this one, but the bottom line is maybe similar, so we can compare our results
  • #11
  • Nov 9, 2008 12:21pm Nov 9, 2008 12:21pm
Quoting tunera
I'm with you, remember, the biggest of the challenge is about psychology, anyway wish you the best!

I'll start a journal too tomorrow, it's a little different from this one, but the bottom line is maybe similar, so we can compare our results
Exactly. Ok. All the best..,. I was first...

Euro stands at 1.27651 and the day hasn't even started yet!
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  • #12
  • Nov 10, 2008 2:55am Nov 10, 2008 2:55am
Quoting bullrock
This is not a joke.

I will try to make a million from one hundred. There is no time limit. I will post the trades regularly here.

Some would say I am mad. Some would say this is not possible. Here is the thing never say that. This thread might be the proof.

The theory. If one can make 1% a day it takes approx. 753 days to reach your first million if one uses a micro or micromicro account where one can fine tune the money management. Say can risk only 2% of 100£. or 2£ on 60 pips. That is 0.03333£ per pip.

I will have fun.

Ps. Disclaimer. This is my own risk. I might not post all the trades just the results. The reader follows all this stuff at his own risk!
Thats 926. I am sorry. I have no ide what happened. or 466 if 2% a day on average...

Edit: I have added an extra 100£ every 20 days ...
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  • #13
  • Nov 10, 2008 2:59am Nov 10, 2008 2:59am
Good to see you Bullrock
Trade what you see, not what you think.
  • #14
  • Nov 10, 2008 3:01am Nov 10, 2008 3:01am
Quoting karmostaji
Good to see you Bullrock
Hey
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  • #15
  • Nov 10, 2008 6:39am Nov 10, 2008 6:39am
Current state. I will post some trades tonight. 1.4% up. But I was also down to 116. so this is more than 1.4%, around 3.7%
Attached Image (click to enlarge)
Click to Enlarge Name: now.JPG Size: 48 KB
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  • #16
  • Nov 11, 2008 2:03pm Nov 11, 2008 2:03pm
Ok. I had a difficult day but at the end it turned out ok. So the account stands at 124.90. Which is really cool as it would allow to relax for the week. We do not do that. There is a very loooooong way to go . PATIENCE. The real deal is the consistency. 1% a day is the goal. It doesn't sound very difficult if I say that I risk 1%-2% per trade with usually 2-5 R/R. So one good trade should put me in the green. So far so good.
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  • #17
  • Nov 11, 2008 2:22pm Nov 11, 2008 2:22pm
Not totally the same thing. But very much close, thought provoking. Especially the bit start at small and then scale up. Concentrate on the process.

http://www.webmarketingplus.co.uk/ec...a_million.html
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  • #18
  • Nov 11, 2008 2:23pm Nov 11, 2008 2:23pm
Tonight or early tomorrow morning I will add a picture of the account and post some of the trades that led here. Good night everyone.
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  • #19
  • Nov 11, 2008 2:30pm Nov 11, 2008 2:30pm
This is a very simple sheet. Just shows where we are now. The point is.... The point is that the trade is irrevelant. What is relevant is the money management including the scaling...

Regards
BR
Attached File(s)
File Type: xls fromonehundredtooonemillion.xls   153 KB | 600 downloads
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  • #20
  • Nov 18, 2008 9:12am Nov 18, 2008 9:12am
Good luck, just remember it is all about money management.

I actually know personally a person that made 1 million out of 75k. I went to York University for my MBA with this guy, Iyad Atuan. he is an engineer turned into a trader. Once i asked him about the switch, he start trading in 03, and blew a couple of accounts but in 2005 he broke even and made some profit. he told me the secret to make money in FX is to understand the market (the fundamentals) and just use technicals for optimal entry and exit.
however, i realized that you need that gut feeling where you know where the markets are going which i don't have. so i was lucky that he opened his own firm so i have a managed account with him.

So yes, there are people that made millions in FX BUT not just from technical, you need fundamentals.

i hope this helps

p.s. my account is at 180% so far this year. if you want to learn more check his site (send me a PM).
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