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It is possible to make 2000 from 200 in Forex? It is easy or very difficult?

  • #21
  • Apr 19, 2010 10:50am Apr 19, 2010 10:50am
Well I read in one of the threads in the commercial section RR claimed he traded $200 to $250000 in one year!!

So its definitely possible.
  • #22
  • Apr 19, 2010 3:35pm Apr 19, 2010 3:35pm
Quoting FxMike
Thanks Razor, interesting your answer. My point is that if someone can make 11,000% in 2 months, then 1.000% (or just 500%, which is still excellent) in, say, 3 months should not be a big deal (for someone well-prepared)
Your still so far off. No big deal for someone well prepared. If someone came to you and showed you a 1000% increase in a customers account in 3 months and asked you to invest $10000 would you....

I can tell you now, I would slap them and tell them to wake up and get over the result. It is definatly possible to make, there are enough people here who have done similiar things however it is completely IMPROBABLE for such aggressive results to continue. The key ingredient for such large gains is risk, and this is on a number of fronts;

Risk 1: Massive risks per trade on a % of account basis. Most say that 2% is enough but these people usually live in the 10% or better category. Say goodbye to the account in the coming months

Risk 2: No Stop losses. They believe they know where the market is going so they dont employee a stop loss and subsequently will often go into a decent drawdown, unless they hedge which is just another element of risk, and then they party when after 200-300+ points of drawdown they take something like 20 pips profit.

Risk 3: Much the same as the above however they do employ a Stop loss, however it stinks so they put it on some corner 300 pips away however the profit taking is usually quicker than a Chuck Norris round kick to the head (and nothing is quicker than that) as they are happy to overcome the spread and take profit before 10 pips has a chance to evolve.

Risk 4: See Risk 1 and combine it with either Risk 2 or Risk 3 and you have the product of quick short profits that accumulate rapidly, Provided they dont take a loss which is most cases will wipe out a huge chunk of you account and take you back to the drawing board.

No seeing that you are financial advisor I can tell you this. If you were giving me and my business advice that had mentioned anything you have written I would have kicked you out of my office. There is no need for 1000% gains. The only ones who desire it are the penny traders who are looking for gratification from 1c per pip. Trade a real account, over 100k and you will quickly come to appreciate the simplistic beauty of smaller rewards. You dont need to risk you account unless you truly believe that gambling can pay off in the long run.

Razor
  • #23
  • Apr 19, 2010 4:51pm Apr 19, 2010 4:51pm
Quoting FxMike
Welcome dear reader, the purpose of this post...
Just one best performance week is not enough to judge the performance. Further more your best performance week has only profit factor of 1.48 with almost 20% drawndown! So do not be surprised if you lose 50% of your money or even more in your worst performance week.
  • #24
  • Apr 19, 2010 8:07pm Apr 19, 2010 8:07pm
Hi FXMike

$200 is quite a small amount to start with. If you are doing proper risk management which all traders should be doing. You can only trade microlot which is $0.10 per lot size.

To turn 200 to 2000 may need about six months at minimum. This is based on you risking 3% of your account every trade which is only $6 which is equivalent to 60 pips stop loss allowed per microlot trade.

Let say you are about to make 120 pips which is equal to $12, it may take you sometime to fulfill $2,000 target.

It is always good to start slow and learn throughout the journey. The faster you climb, the harder you fall.

Good Luck
  • #25
  • Apr 19, 2010 8:09pm Apr 19, 2010 8:09pm
its easier to make 2000 become 200. trust me.
  • #26
  • Apr 19, 2010 11:10pm Apr 19, 2010 11:10pm
Quoting FxMike
Thanks Razor, interesting your answer. My point is that if someone can make 11,000% in 2 months, then 1.000% (or just 500%, which is still excellent) in, say, 3 months should not be a big deal (for someone well-prepared)
Call security, there's a crazy guy in the building!

  • #27
  • Apr 20, 2010 5:14am Apr 20, 2010 5:14am
Quoting KelvinLee
Hi FXMike

To turn 200 to 2000 may need about six months at minimum.

Good Luck
There is no minimum. You could trade the maximum your margin will allow and take a 10 pips time and time again and provided you are lucky you could probably do it in a day which is really no better than allow a 6 month minimum for a 1000% increase. There are so many reason why market speculators go bust and the above comment is one. Trading correctly it should take, with great money management a few years, but no one wants to hear that which is why small money traders are better of heading to the casino...

Razor
  • #28
  • Apr 20, 2010 5:25am Apr 20, 2010 5:25am
Quoting jest1081
its easier to make 2000 become 200. trust me.
Hahahaha


So true, unfortunately !
  • #29
  • Apr 20, 2010 5:30am Apr 20, 2010 5:30am
Quoting qunlebada
nothing is impossible though,but i definitely know it's no walk in the park.i started an account with 2300 dollars sometimes ago and the acct came down to about 700 before i actually started making progress with it.but probably that's because of my own inadequacy.but if you can really find good money management,risk management and a good trading strategy that works,i guess it shouldn't take a month to get there but i'd probably not want to think about it.it is possible though
Majority of people find that an account heads south far quicker, and far earlier than it heads north. I remember starting with 10k after years of testing and demo trading only to find myself down over 4k within 6 months. I know and knew the reasons, most of it being the emotional sense of having real money involved and taking profits when I could and not accepting losses when I should have. It took me well beyond a year to get back to 10k so provided what you have done for years yielded results in practise then there should be enough reason to keep on plugging away.

Its the plugging away that I find the most intriguing part of trading but I guess for others it is the get rich as soon as possible or blow up trying aspect that has them going. Guess im just not an adrenlin junky, I could never understand the person who jumps out of perfectly good plane
  • #30
  • Edited 11:41am Apr 20, 2010 7:04am | Edited 11:41am
Okay, firstly I'm new here so hi everyone

Trading with low capital is both a skill and a gamble. about 5+ years back I wrote an article on low capital trading, I will maybe try and find it at some point.

As many have said, its possible, but...

Basically with £200 (or $200) you have to take more risk than anyone would advise. Its pretty much a make or break scenario and you need a lot of luck.

Often where people fail is when they reach their target, they think 'Hey, I just turned £200 into £2000, that was easy' They think they have mastered trading and are pretty much invincible. They then try to carry on and disaster happens, no problem, they did it once. So they try again, make a little head way, then boom. Its all gone again. Soon enough they have funded their account with £2k and lost it all.

If you are going to try low capital, make sure you have a realistic expectations(as realistic as it can be with this amount of money). Work out how you are going to trade this money. Spread betting, forex broker, bookmaker, etc... Create some rules that you must stick to i.e. max amount of risk per capital (be it 5% 10% or whatever). Targets are pretty much useless, its very easy to say I made 20% gain in capital this week, so therefore will make this every week. Monitor your progress, not your targets. As said by others dreaming about futures profits will get you nowhere.

This is the most important rule that you must follow no matter what. RISK ONLY MONEY YOU CAN AFFORD TO LOSE, because there is a very real risk that you will LOSE it.

If you are determined to give it ago, do it for fun and nothing more. Perhaps try trading forex exotic options - i.e. no touch, double touch, etc.. type bets. For example you choose a currency, you then decided that this currency will not hit a predetermined value within 'x' days.

Once you reach you goal. STOP. rethink the situation (withdraw your initial £200) and create a new plan as to how you will go forward with this money.

The other option, is take the £200 down the casino, place it on red or black, then leave the casino either taking away your win or leaving with a lighter wallet. If you win you can put the £200 into your account and go on from there lol
  • #31
  • Apr 20, 2010 10:44am Apr 20, 2010 10:44am
Quoting Ronald Raygun
Then what's holding you back? Go ahead and do it.
Thanks RR, I'm already trying.
  • #32
  • Edited 11:28am Apr 20, 2010 11:08am | Edited 11:28am
Quoting Razor_trader
Your still so far off. No big deal for someone well prepared. If someone came to you and showed you a 1000% increase in a customers account in 3 months and asked you to invest $10000 would you....

I can tell you now, I would slap them and tell them to wake up and get over the result. It is definatly possible to make, there are enough people here who have done similiar things however it is completely IMPROBABLE for such aggressive results to continue. The key ingredient for such large gains is risk, and this is on a number of fronts;

Risk...
Thanks Razor, but about my profession, you are a little confused. And about the risks of Forex that you mention, I suffered all with automated systems that comment in the first post (the lots were set at 10k, but the SL were over 300 pips and TP averages just 20 pips) In correction of these risks, TheDance System only used a maximun of 19 pips SL, but the TP are subjective and limited.

This week I'm trying Sonic R system, with a ratio of 2:1 (TP:SL) or at least 1:1 when I approach a level SR. The typical StopLoss is 40 pips. So far, the assertiveness of the direction of the operation is very good.

With regard to risk operation, my goal is 0.75% or lower risk for operation, and a potential gain of 0.75% to 2%. The rest depends on the frequency between operations, having a probability of success of at least 60% All this for REAL because the DEMO currently does not meet this.

If the week continued as before, will share the results.
  • #33
  • Apr 20, 2010 11:14am Apr 20, 2010 11:14am
Quoting KelvinLee
Hi FXMike

$200 is quite a small amount to start with. If you are doing proper risk management which all traders should be doing. You can only trade microlot which is $0.10 per lot size.

To turn 200 to 2000 may need about six months at minimum. This is based on you risking 3% of your account every trade which is only $6 which is equivalent to 60 pips stop loss allowed per microlot trade.

Let say you are about to make 120 pips which is equal to $12, it may take you sometime to fulfill $2,000 target.

It is always good to start slow and learn throughout...
Thank you very much, honest and friendly response.
  • #34
  • Apr 20, 2010 11:35am Apr 20, 2010 11:35am
Quoting pipmutt
No, but one would expect a corporate finance adviser to have a bit of general financial common sense!


If anything the reverse is true, but that's another discussion....



As others have mentioned that kind of return is probably unsustainable, it's more like a party trick than serious sustainable trading.

Exactly what is it you're trying to find out? If it's the original question about how long it would take to turn 200 into 2000 then I think that's already been answered hasn't it?
ToxicChili's response was interesting.
Common sense that I develop in my profession has no relevance in Forex, almost none of what I knew about potential maximum profitability applies in this market.
  • #35
  • Apr 20, 2010 11:41am Apr 20, 2010 11:41am
Quoting pipmutt
Call security, there's a crazy guy in the building!

Sorry, I meant 5000% in 3 months should not be a big deal for someone with 10+V,
  • #36
  • Edited 1:14pm Apr 20, 2010 12:59pm | Edited 1:14pm
Quoting FxMike
Sorry, I meant 5000% in 3 months should not be a big deal for someone with 10+V,
Another thing worth looking at when trading small capital is the deposit bonus, some sites offer a certain percentage bonus after you have made 'x' amount of trades. It may not seem like much, but can help set you off in the right direction.

Okay people may think this is silly and it isn't trading, but getting a £100 on a £200 at least gives you a little bit extra and you need all the help you can get, just be sure you read the Terms and Conditions correctly to make sure you qualify for the bonus.
  • #37
  • Apr 20, 2010 2:16pm Apr 20, 2010 2:16pm
Quoting FxMike
Sorry, I meant 5000% in 3 months should not be a big deal for someone with 10+V,
Nah not me, I just plod along making a few percent a month, low risk, smooth equity curve, bit boring but that's trading for ya!

Seeing as the average return on 'regular' investments is around 4% per year I don't think I'm doing so bad, obviously not in your league but then I don't have the experience of a corporate finance advisor.

By the way you're not French are you?
  • #38
  • Apr 20, 2010 2:52pm Apr 20, 2010 2:52pm
I think the point that we're arguing is irrelevant to the question:

Of course it's possible!!! Is it likely? Well...that's entirely a different argument, and I think where most of us give a little resistance to the thought.

Am I saying I could do? Maybe. Is there a chance I'd end up with $0? Yes...and if you haven't had the winnings already to boost your confidence, I'd say you'd be hard pressed to do much but lose it all too.
  • #39
  • Apr 20, 2010 2:59pm Apr 20, 2010 2:59pm
Quoting FxMike
Sorry, I meant 5000% in 3 months should not be a big deal for someone with 10+V,

hey first off youll find alot of people here with 10+V dont make money..
2ndly your crazy if your honestly serious about those gains being possible let me assure you.. that yes they are possible ... you may get from 200 to 2000 you may even make it to 4000.. but if you keep trading like that I promise you there is about a 99.9999999(anyone know how to put a remainder bar over a 9)% chance that you will completely distroy your account..
3rdly if an investment advisor tries to put you in anything close to a forex investment.. leave immediately open the phone book and find a new investment advisor..seriously should never happen..
4th I would also like to know what financial firm this is so I may short as well... im thinking lehmanesk failure...
5th im also assuming your reason for coming on to the board is hey guys look how awesome my trading is because im just learning and am awesome.. look at me.. and I promise that emotion in trading like this in trading is bad it will humble you..

which brings me to my point - be careful what you read be careful of what you think you know.. and becareful with your money use only safe money and have fun learning dont let this break you
  • #40
  • Apr 20, 2010 4:02pm Apr 20, 2010 4:02pm
Quoting FxMike
Thanks Razor, but about my profession, you are a little confused. And about the risks of Forex that you mention, I suffered all with automated systems that comment in the first post (the lots were set at 10k, but the SL were over 300 pips and TP averages just 20 pips) In correction of these risks, TheDance System only used a maximun of 19 pips SL, but the TP are subjective and limited.

This week I'm trying Sonic R system, with a ratio of 2:1 (TP:SL) or at least 1:1 when I approach a level SR. The typical StopLoss is 40 pips. So far, the assertiveness...
I only write what I need to write because I have been there, done that and can tell you that it doesnt work in the end. What I have found with high risk, high leveraged trading is that profound results are great, when they happen HOWEVER the game is to find an edge that you can exploit over the course of TIME.

If you develope or tag along with a system that has a definable, exploitable edge that has been proven over history then the last thing you need to do it put down more than 3-4% and that amount is on the great setups otherwise you only need around 2%. 2% allows for active growth of steady moves while allowing a larger than normal string of losses to not kill off the account. A big part of Trading is about managing losses, that is it is the only thing that you have a little control over. Before you execute a trade you decide 'what is the most I feel comfortable loosing', so by employing a SL at point X you literally have control over the loosing aspect. The rest is up to where the money is taking the markets and you will take profits depending on current market behavior. If you can do the above over time it will give you something that will allow you to trade larger accounts, trust and confidence.

Risky trading and making exorbitant amounts of growth will not give one the ability to trade larger accounts (unless one is already wealthy and the amount invested has the same meaning as $200) with ongoing trust and confidence. It also (risky trading) requires one to sit in front of there computer, usually biting their fingernails to below the first knuckle, which is also a sign.

Forgot the hype, forget the bulls&^t and pay no attention to the claims of high gains. They come at a price and that price usually catches up with the lucky few should they choose to push the boundaries too far. I would personally fell more comfortable risking 1% of $100,000 then risk 10% of $200, even though the underlying risk in the first instance is about 5000% greater. I would also be far happier in taking the profits, which in the same case would be about 5000% better.

Razor
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