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Advice needed - realistic expectations

  • #21
  • Aug 27, 2009 3:50pm Aug 27, 2009 3:50pm
Quoting pipmutt
Without the first you're almost guaranteed not to achieve the second.
Actually I think you'll find you need both, but most importantly is the ability to trade.

If your learning, Demo or 10cent per pip ( $1 for me )

Once profitable let it fly and keep moving money into a reserve account to put back incase you have a stupid 100% down week.

Better to have 100% down with $500 rather than 20K
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #22
  • Aug 27, 2009 6:05pm Aug 27, 2009 6:05pm
Quoting Turveyd
Once profitable let it fly and keep moving money into a reserve account to put back incase you have a stupid 100% down week.

Better to have 100% down with $500 rather than 20K

I guess it's a matter of choice but a better option might be to limit risk, compound an average of 0.5% per day, have no risk of 100% down weeks, and turn that $20,000 into around $60,000 in under a year, and if my math is right a cool million in just over 3 years. That seems to make more sense, no?

If you needed money to live on then every 6 months you could take out 12k and it would take about 4.5 years to get the million (if I've worked it out right, I'm using the rule of 72 so it's not that accurate, neither is my math!)

5 years for a million, not too shabby, especially when you think what you've probably achieved in the past 5 years.

Remember this conversation in 2014, I'll check back to see how you're getting on

Mind you in 5 years time a million bucks will probably be worth about 20k so you'll be back where you started!
  • #23
  • Aug 27, 2009 6:32pm Aug 27, 2009 6:32pm
Quoting pipmutt
I guess it's a matter of choice but a better option might be to limit risk, compound an average of 0.5% per day, have no risk of 100% down weeks, and turn that $20,000 into around $60,000 in under a year, and if my math is right a cool million in just over 3 years. That seems to make more sense, no?

If you needed money to live on then every 6 months you could take out 12k and it would take about 4.5 years to get the million (if I've worked it out right, I'm using the rule of 72 so it's not that accurate, neither is my math!)

5 years for a million,...

0.5% per day ??? how would you even do that.

Girlie I've been training made 17 winning trades zero losers +80% on her account today, okay still a newbie likely give it back but she's coming along nicely

The Million area gets tough, SL 23 account @$500 say so risk of 4.6% $1 per pip, to keep the same risk / profit ratio at 1Mil $$'s I would have to trade at $2000 per pip can't scalp with 20 full 1000K orders, I fully expect ( with some luck loads of it ) to top out @$20 per pip.

Base it on 50pips per day average, thats $1000 per day so thats @4years to get to the Mil without any spending.

Give me $3000 per month, £2000 GBP ish and I'd be very very happy

Not there yet sadly, but it's getting nearer I feel
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #24
  • Aug 27, 2009 7:06pm Aug 27, 2009 7:06pm
Quoting Turveyd
Base it on 50pips per day average, thats $1000 per day so thats @4years to get to the Mil without any spending.
lol, yeah ok, what can I say
  • #25
  • Aug 27, 2009 7:24pm Aug 27, 2009 7:24pm
Quoting pipmutt
lol, yeah ok, what can I say

On the basis I could get hit by a bus tomorrow, I like to keep all of my money well spent so realistically I'll never make it to the Million, don't really care about the Mil either.

Not trading the summer period again, next year the deal is off to a remote desert island with no internet connection, it'll work out cheaper
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #26
  • Last Post: Aug 28, 2009 2:04am Aug 28, 2009 2:04am
Quoting Turveyd
On the basis I could get hit by a bus tomorrow, I like to keep all of my money well spent so realistically I'll never make it to the Million, don't really care about the Mil either.

Not trading the summer period again, next year the deal is off to a remote desert island with no internet connection, it'll work out cheaper
You kinda miss the point in your previous posts, there's no need to take excessive risks and bet the farm, it's fairly easy to have a nice smooth equity curve with a relatively conservative average gain and still reach the pot of gold. Everyone seems to want everything yesterday, unfortunately they often end up with nothing.

Compounding is a powerful tool if it's used productively.

The Hare and the Tortoise fable springs to mind
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