Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

From 50 Dollars To 1 Million Dollars Trading Challenge 70 replies

TP dollars amount and SL dollars amount columns (MT4) 0 replies

Make 365 dollars in a million days or less 14 replies

Dollars, Dollars, Everywhere! 2 replies

Azzity's trading journal II, (365+200+50+8 rainbow M15 gj) 52 replies

Attachments: Make a million dollars in a 365 days or less
Exit Attachments

Make a million dollars in a 365 days or less

  • Post #1
  • Quote
  • First Post: Edited Jun 25, 2015 6:51pm Jun 3, 2009 12:18pm | Edited Jun 25, 2015 6:51pm
Million Dollars juorney Starts tomorrow. so you can follow me in my juorney.
Hello every one.
i would like to share my experience with all the people in here so i would be able to help some people to make money in forex.
so i have decided to share my methodology with everyone in form of signals.
if anyone wants you can check this thread everyday and i will post my signals in here.
Signals are generated based on a proven methodology and it has been successful for the past 15 years.i personally made money consistently for the past 2 years with no losing month.i will explain how to use the signals profitably.

How to trade the signals.

since the signals are generated based on cycles and time it is very easy to follow.
everytime i have a signals i will post it in this thread and at the time of the post i will say 10 minute warning for a possible buy.
then i will include the stop price for the trade.
and i will say if in the next 10 min which is 2 candles on a 5 min timeframe price closes above a certain level we go long.

Example:
10 min warning for a possible buy on eurusd. time is now 11:20
Stop = 1.3050
if price closes above 1.3065 in the next 10 min we buy at the market.(if the price closes above 1.3065 by 11:30 we should enter long at market price)

so this simple.

How to manage the positions.

Very simple i always enter with 3% of my account you should determine your risk tolerance yourself.some people like to enter with 3 lots some 3% and some 1.5% its up to you.but keep in mind trading with fixed lots is very dangerous.another way to approach this to take 1% off as soon as you hit 10 pips and then follow with other Take Profits.
dont forget to move your stop to breakeven as soon as you get your first target.

so i calculate between my entry and stop and on the above example stop is 15 pips.so my first target is 15 pips second target is 30 pips and last target is always 7 to 10 times of the distance of your entry to your stop or the maximum of 200 pips for the last target.

Just to show everyone how easy it is to make money in forex and how to calculate your risk and stuff i have made a demo account and i will provide the account information so everyone can check this account from time to time and see the results live.

here is the info.
Fxpro
Username:1070170
Readonly password: 2nmcdhc


If anyone has any Questinos please do not hesitate to ask.
you can i belive subscribe to this thread so as soon as i post a trade you get an e-mail so you some here and read the plan for the trade.

wish you guys luck
Im also attaching my personal performance that i'd like to track everyday.
Attached File(s)
File Type: zip performancefrom07to09.zip   225 KB | 1,788 downloads
FREE Skype group is EUROUSDSNIPER
Good Luck

AZ
I found the guy who keeps losing me money. Its "ME" SHOOT HIM!
Quoting forexpervert
here is the info.
Fxpro
Username:1070170
Readonly password: 2nmcdhc
Why do you want to make a million dollars on a demo account?
Wouldn't it be easier to just set up a demo account with already 1 MIo USD in it?
If Demo Dollars is all you want?
forexpervert
? for you why dont you move this to the Journal area so it can die in peace - so many of these mill in a year threads die a natural death in about 3 weeks.. please spare us the agony...
In trading, there is no bullshit. You either make money or you don't.
its very interesting to see that no one has never ever made a mill in forex.

the onlly thing i made this tread is to accept the challenge and show you it can be done.you dont need to believe me you have the demo account info to see the process.im doing the same thing with my real account.side by side.
FREE Skype group is EUROUSDSNIPER
The Biggest Mistakes in Forex Trading

What is it about forex trading that causes such a high percentage of traders to fail?

If the failure rate is so high, why does anybody bother trading forex in the first place?

What is it about forex trading that causes so many people to fail? People who have been successful in every other aspect of their life start trading forex and quickly watch the account balance in their trading accounts to disappear.

So Why is this?

There are several factors that set forex trading apart from other forms of investment. To begin with, unlike the stock market, where rising prices can make any number of people richer, forex trading is a “zero sum” game. This means that for every dollar you make trading, somebody else is
Losing a dollar. If it is true that 90% of traders lose money, then we must conclude that a small minority of traders are making all the money at the expense of the other traders.
Secondly, the futures markets involve a great deal more Leverage than most other types of investments.
There are many books have been written that focus on successful traders and how they became successful in this market. People think that by reading these books they can be just as successful. But is this true? Just because you know how someone else succeeded in a particular field does not necessarily mean that you can copy his or her success. Just because you read couple of books from Warren buffet doesn’t mean you can become as rich as he is. But unfortunately this is how a lot of people approach investing. They read a book or look at an ad that tells them “how easy it is to make money in forex market”, “we show you how to make money in less than 5 minutes a day” and later
on they are that much more surprised when they find out that it is not so easy at all.

Mistake Number 1
Lack of trading plan

Consider the following scenario. You hear your friend and other people are talking about a new business which some people are getting rich beyond your imagination. So you think about it and you decide to engage in that business yourself. It is very common that you will begin to do some planning before engaging in that business. So during the planning process you may learn things that you were not aware it could affect your business, and you will build in contingency plans to account for these factors as well. If you are like most people, and if you truly desire to
succeed, you may find yourself becoming consumed by the depth of your planning. Finally, after much hard work and countless hours of planning and preparation, you take the plunge and attempt to succeed in your new business. There is nothing surprising in any of this. It happens all the time and is simply the way that people go about making their fortune. Except when it comes to forex trading. In forex market, a high percentage of traders enter the markets without the having an idea as to how they plan to succeed in the long run. very few people actually take time to learn the forex market and then start risking their trading capital.
So you may ask yourself why traders makes these mistakes?

One could be the idea of easy money. they like to start and get rich right away. remember not every one like larry Williams can turn a $10,000 into $1 million dollar in less than a year
Lets face it when you hear a story like larry Williams not so many traders start thinking of making a trading plan to achieve the same goal but instead most people would start drawing up a mental image of what they could have done with that money. Remember every one makes mistakes but the successful trader make mistakes, they paid for their mistakes and they learn from their mistake. So if they don’t make mistake they won’t become successful.
· In 1973 Larry Williams wrote a book on “how I made a million dollars last year “then the next year he lost the million.
· Michael Marcus started with $30,000, borrowed another $20,000 from his mother and then proceeded to lose 84% of their combined capital (imagine trying explain that to your Mom) before becoming a successful trader.
· In 1987 several commodity funds managed by Richard Dennis lost 50% of their capital and were forced to stop trading.
So bottom line is everyone lose from time to time and you will lose too no matter what ,but it’s how you respond is the question.

Are you really ready to trade in the forex market?

Do exactly as I say and then e-mail mean I will tell you if you really ready to trade in the forex market with the sharks.

1. Go to your bank
2. Get $1000 cash
3. Walk outside and with both hands throw your money up in the air.
4. After your money is blown away go home and relax and say “Gosh that was stupid idea wish I hadn’t done that.”
5. Get on with your life.
The first time I heard this story which was couple of month ago I actually did the same thing on the test and when I said to myself I have done something foolish and then I relaxed, I realized 30 minute later I wasn’t even sad or not even I was thinking about the money. So if you can do the same I would tell you that you are ready to become a very successful forex trader ,both emotionally and financially. So the more capital you can afford to lose without changing your life style the more chance of becoming successful.

Emotional attachment to money is very deadly.the worst thing is you look at the money in your trading account and you don’t think how much you can afford to lose on each trade instead you think how much stuff you can buy with that money, so my friend if you think like that I would beg you to stop trading.

If you want to be successful in forex market I would recommend a starting trading capital of $10,000 this is an honest answer if you ask how much trading capital do I need in order to become successful in this market. You also should limit your risk to 5% of your trading capital on any given trader. That means no matter what you won’t lose more than $500 in any one trade.

Forget about all these advertising saying you can start trading forex with as little as $500 you won’t get anywhere with $500 but to give your money to the broker over and over and over again.

Just try to come up with $10,000 that if you lose it wont affect your life style. Its only in this case that you might be able to make one million in less than a year like Lary Williams.

· So remember planning your trading day is a key to success or failure.
· The more prepared you are the more chance of long-term success.
· Adapting to unforeseen problems and always keep your head above the water.
· Plan your trade and trade your plan
· Remember a good trading plan is like a road map it will get you to your destination fast rather than stop along the way and ask people for direction.
· Trust your system and follow the rules. The same as when you are flying a bad weather and your inner ear with tell you that your wings are level even they are not level. So you should just trust the aircraft instrument completely.

MISTAKE #2:
Using Too Much Leverage

Leverage is a double-edge sword that helps a few trades rich. in forex market you have 500 to 1 leverage. And not many professional traders have the stomach to trade with leverage of 30 to 1.most people are in a great danger that the read on ads “how to make lots of money for just $500, or how can you control $100,000 worth of currency with just $250. And most people also unaware that forex trading involves unlimited risk. So let’s say you have an account of $1000 dollars and you place one standard lot so each pip is worth $10 and if you lose 20 pips you have just lost $200 of your account which would be 20% of your trading capital.

I leave this up to you to do some research as of why people make this mistake of using too much leverage? And what do you have to do not to fall for all these high leverage brokers ads? And lastly how to avoid this high leverage even if your broker gives your 400 to 1 leverage.

MISTAKE #3:
Failure to Control Risk

If you are going to engage in a risky activity in your life you most likely to do some planning of how to avoid most of the risks involved in that activity. For example you want to take your car to a race track, it is probably a safe bet that you check your tires to see if they are fit for the track. you wont just drive your car there with a tire that is 5 years old. you will make sure that your car is fit for racing and driving at high speed. Another example is when you get your own private pilot license before you get your license you have to pass the flight test, and on the flight test they will test you on all the emergencies and safety precautions. such as you walk around the aircraft before you even sit inside it to make sure everything is according to the check list. you will make sure when you a visual inspection of the body of the aircraft that no bolts is missing the wings of the aircraft is free of objects and moving freely. you make sure the propeller of your aircraft is not damaged, you check the oil and gas to make sure is enough for your flight plus 45 minutes of reserved fuel. so when you want to do an activity like flying you is risky not to follow the check list so you make sure you follow the rules. Or when you want to go sky diving would you even go in the plane without a parachute?

These traders that they fail to control risk are like a person who goes sky diving without parachute, and the result is that person will hit the ground and die. the only reason someone would jump out of the aircraft without a parachute is he want to commute suicide nothing else.

Usually these kind of people or traders fall into a category of new traders who are hoping for easy money. However some times experienced trader who knows better of controlling risks forgets to keep their guards up and they do pay the price. So if you make a mistake , and leave yourself without guard the market could reach out to you and knock you out of the ring.




MISTAKE #4:
Lack of Discipline

so lets say you have traded forex in the past but without much success or you are new in forex market. And you have followed all the steps below:
· You sit and thought how much money you can risk
· Opened a new account
· Have a system that you have a complete confidence
· You know your entry and exit
· You have tested your system already and you know you got good results
· You have forward tested you system and again with good results
· And you know your maximum draw down.
· And you have a risk management too

You’re as ready to trade With high hopes .you place your first trade. if you are like many traders
the first three trades you make will be losers. After the first loss, you’ll say no big deal it’s part of trading. After the second loss you’ll say I might be doing something wrong. After the third loss you’ll tell yourself something’s wrong, and I need to check everything again. You have no clue
why your system has suddenly fallen apart. So you decide to skip the next signal, a buy signal. Two days later the market that you should be long explodes to the upside. You tell yourself it’s too late to jump on board now, so I’ll just wait for the next trade, relieved at least that your confidence in your system has been restored. So you wait for the next signal from your system. And you wait and
you wait and you wait. And in the meantime that market continues to go up every day. Your system
is doing great, but you on the other hand are not doing good. You start mentally adding the money that you should have made on this trade to your account and say “I should have had this much in my account by now.oh well I start from tomorrow and just follow my system no matter what. But every day your account balance remains the same, while that market just keeps rising higher and higher. By the time you enter the next trade you have a missed a $10,000 winner. And the next trade is another loser. If you are one of the lucky ones, at this point your loss is relatively small, and you decide that enough is enough. You close your account and walk away. For
the rest of your life whenever the topic of futures trading comes up you step forward like a veteran with a purple heart and tell your war story and you say yeah, I traded forex.
Let me tell you how to…….”

So how about another person who was completely prepared both financially and emotionally
to do what was necessary to succeed and still he failed one after another.

Have you ever wondered why does this happen to every trader how from their bottom of their heart want to start trading as a business but they fail.
In most cases it is because although they were very well prepared when they began their new trading plan, somewhere along the way they went wrong and they forgot to do what was needed. They failed to have the discipline to pull the trigger or to not pull the trigger, and they either took a loss or missed a huge profit. With many traders this can cause an emotional problem where the trader’s primary focus is no longer on following his plan but his primary goal is to get back at the market causing him to lose more money . Or maybe his want to get back to break even before walking away. lack of discipline ,There is probably not a trader alive, successful or otherwise, who has never suffered because of his or her own lack of discipline at some time of their life .
So What separates those who make money in the long and those who lose big time very fast?
The answer is in discipline.

• To learn from mistakes and to never repeat a mistake already been made.

A lack of discipline in forex trading is always a mistake.
doubling up on a losing trade or holding on after your trading method tells you to exit.

Why traders make this mistake?

Usually is one of these reasons that is in front of you like a wall of china

Fear, Greed, and ego.

We all love to make money (we are greedy) and we hate to lose money (because we fear). Cutting a loss is very hard on the ego since we still think that another pip market is going to come back and we hate to admit we are wrong.

emotions are very powerful and they can make you to do all kinds things:

You bail out on a trade soon with a small loss ,because you don’t want to risk more .

You stop trading altogether during a drawdown just right before market is turning around.

You take a profit prematurely because you don’t want to give it back, thereby missing a big profit.

You double up or increase your position size in an effort to get back to break-even or in an effort to make a killing.

So how are we going to avoid this?

Just telling yourself to put fear and greed and ego aside won’t solve the problem.

You just have to learn how not to think at this point and just react when you trading system gives you a green light.

For example you are scalping in the market and your trading system gives you a long signal and you go long and couple of minutes later you see that whole bunch of sellers are hitting the market and price is falling rapidly. You have 2 options either stay aside and try to figure out why this is happening, could it be news?? What could it be?
Or your second option is to just hit the sell button and get out of the trade.
You do the right thing if you pick the second option since every minute you waste to figure out why this is happening you are losing big time.

So you have to learn not to think and just react when you want to enter or Exit the market.
If your system has a set take profit or stop just set it and forget it.
FREE Skype group is EUROUSDSNIPER
I have a trading method which i could make 100% a year with a use 3:1 leverage.
Quoting Tjpld
Why do you want to make a million dollars on a demo account?
Wouldn't it be easier to just set up a demo account with already 1 MIo USD in it?
If Demo Dollars is all you want?
Quoting Tjpld
Why do you want to make a million dollars on a demo account?
Wouldn't it be easier to just set up a demo account with already 1 MIo USD in it?
If Demo Dollars is all you want?
To make a million dollars do I have to trade Demo Dollars?
I have been trading REAL US dollars and I have a great big stack of them.
Am I doing something wrong?
Quoting forexpervert
Signals are generated based on a proven methodology and it has been successful for the past 15 years.i personally made money consistently for the past 2 years with no losing month.i will explain how to use the signals profitably.

.
Is your title for gimmick? I ask because 365 days is one year. You already in it for 2 years (365x2)days. Do you make 2 millions already.

Anyway, good luck and thanks for your sharing.
Quoting forexpervert
its very interesting to see that no one has never ever made a mill in forex.

the onlly thing i made this tread is to accept the challenge and show you it can be done.you dont need to believe me you have the demo account info to see the process.im doing the same thing with my real account.side by side.
People have made millions on the forex market. The thing is:

a) It's hard as hell
b) When they do it, they don't talk about it

It's probably good that you're publicly aspiring to make a million demo dollars because if you were publicly making a real million every family member you never knew you had would be knocking on your door asking for a handout.

Anyways, good luck!
Quoting sfx
People have made millions on the forex market. The thing is:

a) It's hard as hell
b) When they do it, they don't talk about it

It's probably good that you're publicly aspiring to make a million demo dollars because if you were publicly making a real million every family member you never knew you had would be knocking on your door asking for a handout.

Anyways, good luck!
it is basically true! the most successful traders never talk about the success they have in the trading business. its only the losers who blame forex, instead of learning it better
The reason they're not talking about it may be because, to me, doing well in trading or any other job depends largely on the psychology of the individual, rather than the newest gimmick. The former is something difficult and personal to discuss. This is beside others' open hands as a reason.
Quoting forexpervert
Million Dollars juorney Starts tomorrow. so you can follow me in my juorney.
Hello every one.
My name is Ali and i would like to share my experience with all the people in here so i would be able to help some people to make money in forex.
so i have decided to share my methodology with everyone in form of signals.
if anyone wants you can check this thread everyday and i will post my signals in here.
Signals are generated based on a proven methodology and it has been successful for the past 15 years.i personally made money consistently...
Good thinking.But can u also show the method that fosters your trading decision.
we cannot succeed without a well defined risk management.
Quoting sfx
People have made millions on the forex market. The thing is:

a) It's hard as hell
b) When they do it, they don't talk about it

It's probably good that you're publicly aspiring to make a million demo dollars because if you were publicly making a real million every family member you never knew you had would be knocking on your door asking for a handout.

Anyways, good luck!

When I make the first million on forex I will be shouting from the roof tops. Screw what every one else thinks. I am going to celebrate it. I will have made the money legitimately so who cares if people know how I made it.
Quoting forexpervert
the biggest mistakes in forex trading

what is it about forex trading that causes such a high percentage of traders to fail?

if the failure rate is so high, why does anybody bother trading forex in the first place?

[b][font=bodoni-bold][size=3]what is it about forex trading that causes so many people to fail? People who have been successful in every other aspect of their life start trading forex and quickly watch the account...
what a load of old bollocks!
Quoting forexpervert
Million Dollars juorney Starts tomorrow. so you can follow me in my juorney.
Hello every one.
My name is Ali and ....
Ali, if you have right skills and guts, you won't be first nor last person to make one million dollars in forex business starting from a small amount. Why don't you give it a try with real money? There is nothing like real thing.

You will definately fail. Why I say this? ...... because if you had the guts, you would have started with real money in first place. My friend, you are not yet ready to embark on this journey.

Goodluck anyway.
The Thief of Wall Street
lol.....Spot the English man......Bollocks....now that's a good old fashioned English word if ever I heard one.........

Does anyone else have any other favorite words of their part of the world.....

Quoting TheGreatMilenko
what a load of old bollocks!
It's All About Attitude ...
Quoting fxtrader29
When I make the first million on forex I will be shouting from the roof tops. Screw what every one else thinks. I am going to celebrate it. I will have made the money legitimately so who cares if people know how I made it.
I don't know if I will make a million dollars in 365 days or less, but I am certain that I WILL make a million dollars.
If you see someone who is doing it and he is prepared to help, then it gives you confidence that you can do it too.
Quoting forexpervert
forex trading is a “zero sum” game. This means that for every dollar you make trading, somebody else is
Losing a dollar. If it is true that 90% of traders lose money, then we must conclude that a small minority of traders are making all the money at the expense of the other traders.
I disagree with this. There are other market participants, such as hedgers, import-export firms, foreign investors, or simply the foreign tourist withdrawing money from a foreign ATM. But most importantly there are central banks who don't care about the profitability of a trade since they can literally create the money out of thin air during Open Market operations meant to steer the price.
So in theory the amount of good traders could increase without the profitability of existing good traders to decrease.
Moreover, the M3 (money supply) grows each and every day by a couple of billions, and that for ALL currencies.
0 traders viewing now