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  • #116,701
  • Jul 1, 2009 1:13am Jul 1, 2009 1:13am
Quoting Clouds
how do u figure out 5% is for 365 days, or 10 years.
i don't understand the question
  • #116,702
  • Jul 1, 2009 1:15am Jul 1, 2009 1:15am
Quoting Frenky89
probably not, just like me, but it's possible.
in last 12 days I grow my account from 80€ to 378€, but that was way too risky, I made about 20-25% a day in average. and i will stop doing that and i will calm down a little
I used to do that with my mini account. Sometimes I double, triple the account within a day trade ( I usually leave $100 there and withdraw whatever profit). It's easier to do with $100 but definitely impossible with $1000 or $10,000. The pressure is different. Sometime I could care less if I lose all the money in my mini account but I'm not gonna do the same with my real account.
  • #116,703
  • Jul 1, 2009 1:17am Jul 1, 2009 1:17am
Quoting luis.v.suft
OK. Which TF do you use?
5-m,1-m
  • #116,704
  • Jul 1, 2009 1:18am Jul 1, 2009 1:18am
Quoting Frenky89
i don't understand the question
u said 100$ would be (10,000,000 million or so), after 1 year at 5%, so in two years, i guess it would be 10,000,000,000,000 (10 billion)? personally, i'd not go day -by-day, but more of monthly or yearly.
  • #116,705
  • Jul 1, 2009 1:25am Jul 1, 2009 1:25am
Quoting Clouds
u said 100$ would be (10,000,000 million or so), after 1 year at 5%, so in two years, i guess it would be 10,000,000,000,000 (10 billion)? personally, i'd not go day -by-day, but more of monthly or yearly.
it would be like that, but nobody reasonable would do that, because in second year you risk a couple of milions per trade, it's a lot of money.
and like somebody said before the pressure is different. so when you lose 10 $ or 10 milion $ in one trade it is not the same. that system you can use for about few months until you get 10 000 $ .
  • #116,706
  • Jul 1, 2009 1:25am Jul 1, 2009 1:25am
Long in 1.4045 , otherwise shorting at 1.3955
  • #116,707
  • Jul 1, 2009 1:25am Jul 1, 2009 1:25am
Quoting c2v4l
I used to do that with my mini account. Sometimes I double, triple the account within a day trade ( I usually leave $100 there and withdraw whatever profit). It's easier to do with $100 but definitely impossible with $1000 or $10,000. The pressure is different. Sometime I could care less if I lose all the money in my mini account but I'm not gonna do the same with my real account.
The key is to compound the money to the point where $10 is what 10 cents used to be. Before you know it you are making $20 a pip x 50+ pips per day.

By the way, I always hear of talk about a holy grail in this thing. Well guess what, I just figured it out!!
  • #116,708
  • Jul 1, 2009 1:25am Jul 1, 2009 1:25am
Hey Boys,

This one's for the Ozzie's

June killed 2 of my systems (among one EUR/USD system) but one did especially good... here's the system... (I do everything manually).

+730 pips june..
1H chart (USD/JPY)
Trade 10:00 & 18:00 close bar (+10) Sydney time... (because I daytrade stocks over here)... anyway...


Rules
1. RSI smoothed over/under 50 go opposite...
2. SL/TP 40/70 (taken from weekly pivots) hence will change in the future...
3. two of the bars before you trading bar should have been on the same side... above/below 50RSI line
4. Trade 10:00 & 18:00 close bar only
5. Follow the plan
6. Smile and kill the system after a drawdown on 240 pips...
7. If you like increase lot size after loss...
8. Follow the rules...
9. move SL to zero or +10 when checking position at 10:00 or 18:00 (close bar)
Attached Image (click to enlarge)
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  • #116,709
  • Jul 1, 2009 1:28am Jul 1, 2009 1:28am
What is your win percentage?
  • #116,710
  • Jul 1, 2009 1:29am Jul 1, 2009 1:29am
Quoting 2+2=4ex
The key is to compound the money to the point where $10 is what 10 cents used to be. Before you know it you are making $20 a pip x 50+ pips per day.

By the way, I always hear of talk about a holy grail in this thing. Well guess what, I just figured it out!!
there is no holy grail, and doing this way you could earn a lot of money, but let's say you lose about 30 trades in a row, you would probably lost 50% of your account. it's very risky
  • #116,711
  • Jul 1, 2009 1:30am Jul 1, 2009 1:30am
Quoting Frenky89
i don't understand the question
starting with 1$ at 5% pd at 5 days p week using rule of 72 at 260 days per year. excluding leap year ..$262,144.00 this qualifies you as great in my book..if you can do it 2 years straight warren buffet could be your house boy without doing all the math roughly a 2 digit number with 9 zeros behind it. (my calculator dont go that high)
those who can, do. those who cant, talk about those who can
  • #116,712
  • Jul 1, 2009 1:37am Jul 1, 2009 1:37am
Quoting Frenky89
there is no holy grail, and doing this way you could earn a lot of money, but let's say you lose about 30 trades in a row, you would probably lost 50% of your account. it's very risky
My sons,

Let me tell you, as I have been live trading now for 2 months and I am still in the game, rockin house money.

It is not hard to make money in this game. And likewise it is not hard to lose money, either. The key to success is simply this:

Keep what you earn and don't lose money.

Don't lose money.

Don't lose money.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #116,713
  • Jul 1, 2009 1:41am Jul 1, 2009 1:41am
Enough with the percentage game already, we've all done the excel thing.

I'd give my, well ehm, dunno yet, but i'd settle for 30pips a day, give or take a few, preferably in the FO/LO session.

Stuff 10pips under the matras for retirement, which is too close for comfort anyways. That should leave you enough to keep the missus happy and get drunk once week with the pokerbuddies.
  • #116,714
  • Jul 1, 2009 1:44am Jul 1, 2009 1:44am
I've learned that the key to success in this game is......(drum roll)......never use stop losses.

That my friends is the holy grail
  • #116,715
  • Jul 1, 2009 1:47am Jul 1, 2009 1:47am
I smell another dump down below 020
"If The Fool persists in his Folly he will become wise." - William Blake
  • #116,716
  • Jul 1, 2009 1:50am Jul 1, 2009 1:50am
Quoting 2+2=4ex
I've learned that the key to success in this game is......(drum roll)......never use stop losses.

That my friends is the holy grail
you 're doing well...
infact after the 30 of july all the american brokers of the NFA are going to delete the SL and TP function
  • #116,717
  • Jul 1, 2009 1:52am Jul 1, 2009 1:52am
Quoting forexer83
you 're doing well...
infact after the 30 of july all the american brokers of the NFA are going to delete the SL and TP function
JOKING???????
  • #116,718
  • Jul 1, 2009 1:54am Jul 1, 2009 1:54am
Quoting forexer83
you 're doing well...
infact after the 30 of july all the american brokers of the NFA are going to delete the SL and TP function
I don't know about all that, but I'm serious about it. Why stop yourself with a loss? Do you know anybody who ever won by voluntarily quiting? of course there is more to it then just saying don't use stop loss. There is money management skills involved. And this is something that you are either born with or not.
  • #116,719
  • Jul 1, 2009 1:54am Jul 1, 2009 1:54am
Fool, how do you figure?
If only I knew then what I know now...
  • #116,720
  • Jul 1, 2009 1:54am Jul 1, 2009 1:54am
Quoting 2+2=4ex
I've learned that the key to success in this game is......(drum roll)......never use stop losses.

That my friends is the holy grail
If you dont like SL you can use hedging but IMO it is very important to use SL or at least hedge to protect your account. I had a good lesson once, that was really enough for me ))
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