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$1000 to $1,000,000,000 in 4 years

  • #41
  • Sep 20, 2010 11:59am Sep 20, 2010 11:59am
Quoting kostas1
Now let me get this straight:
1. It is encouraging to me that you could actually built a big account using this kind of philosophy
2. You mean I could be in a position with 30pips SL, then a plane crashes on an important building and my account gets wiped out? Hard to believe, which broker did you use at the time?
3. Same scenario but my trade is on the right side of the explosive move. My SL is ignored and my account grows instantly to millions???

laugh all you want.. but have you ever tried to get out of a trade during a crisis? Have you ever noticed the slippage on a stop loss just during a minor news event?

All the platforms will freeze up during a server overload. Your stops are usually only on your computer. It used to be really bad during news times. I had the same account going on 7 different computers trying to trade during news times. It's not nearly as bad as it used to be, but I have noticed there are still times of lag during a major news event. You can still be slipped out quite a bit. Trying to exit a trade can still take a while and thats not talking about a major crisis/panic. Tons of people lost their accounts in 08. That is why we have all the US interventions now, trying to make forex a "safer place". (not that I like these interventions, either...)

My broker is the same broker I have right now and it is the largest, most reputable broker out there, IMO. (see my profile)

If you were on the correct side of the trade - you wouldn't be stopped out now would you?

Just my opinion/experience.... I wouldn't leave all my capital on forex. I've been burned before despite using emergency stops.

Forex can bring crazy returns and that is why I am still trading full time.

  • #42
  • Sep 20, 2010 12:12pm Sep 20, 2010 12:12pm
Quoting hoops888
I am currently in the process of opening a 5k account,and my monthly expectation will be 15%....
I would appricate some advice from traders who have taken losses and are now consistent profitable traders with realised monthly goals,.Also any advice for risk management would b of great interest to me.
Dont!
  • #43
  • Sep 20, 2010 11:19pm Sep 20, 2010 11:19pm
Quoting kcravey
laugh all you want.. but have you ever tried to get out of a trade during a crisis? Have you ever noticed the slippage on a stop loss just during a minor news event?

My broker is the same broker I have right now and it is the largest, most reputable broker out there, IMO. (see my profile)


Just my opinion/experience.... I wouldn't leave all my capital on forex. I've been burned before despite using emergency stops.


Agreed.

I've seen and experienced what you have mentioned a few years ago and also about 9 months ago. Brokers ignore TP SL. Fail to execute pending orders. They do and say what ever they want, "Sorry we could not close your order because of market conditions etc.""

What I have learned is to trade with little market exposure. I never leave trades on more than a few hours. 90% are closed within 1 hour. I still trade news, but not the initial release. I traded AUD Monetary Policy Meeting tonight, I didnt take the spike, but I caught the selloff right after. I made sure the spread was back to normal. Never leave trades on over the weekend.

I also Diversify into several accounts, several brokers, and take profit out all the time. I only have 2 accounts that are growing, the rest are there for earning Profit and paying the bills..
------------------
If you have $5k and expect 15% in a month, you will probably lose 30% in a week and rethink your 4Hour charts and daily trends again. 90% of the forum threads are here are junk and you will not make a buck following the crowd. Candle formations are bogus and thinking that Institutional traders use EMA 200 and trade off a 4H chart.. lol Ya right..
  • #44
  • Sep 21, 2010 12:26am Sep 21, 2010 12:26am
Quoting hoops888
Hi all
im a newie to the forum tlk so take it easy on me?lol...
I am currently in the process of opening a 5k account,and my monthly expectation will be 15%.
Pairs i plan to trade for the moment will be 1eur/usd 2usd/jpy 3gbp/usd 4usd/chf 5usd/cad(this may be tuned down to 4 pairs)
I plan on using Daily and 4hr charts to help me find my entry,using technical lines on these charts for my entries.
I have had an account in the past in the u.s stock market which took a small lose before i closed it out and began educating myself again.
I would appricate...
Before you open the acct, open a DEMO and trade your plan for 2-3 months. Assuming this gave you 15%, try live trading for the minimum amount of lots (0.1) for another 2-3 months. If this worked, start raising your lot size slowly until you start feeling like you know what you are doing. If you fail at some step, go back to DEMO until you get profitable again.
  • #45
  • Sep 21, 2010 1:09am Sep 21, 2010 1:09am
Quoting kcravey
laugh all you want.. but have you ever tried to get out of a trade during a crisis? Have you ever noticed the slippage on a stop loss just during a minor news event?

All the platforms will freeze...
Not laughing my man, and I was not sarcastic. Never had that happen to me, but this doesn't mean it can't. My type of trading (in&out in less than 1 hr probably exposes me less to this possibility). Will keep my eyes open.
  • #46
  • Sep 21, 2010 4:42am Sep 21, 2010 4:42am
I wonder why lots of people seems to say that getting 20 pips per day is like an impossible task.

Now, before anything else, I wanna be upfront, that I'm just a rookie in forex trading.

As rule number one in this hectic forex world is, Discipline.

I have seen my mentor did it, and my fellow trader did it.

15% per month? nope.

it's 100% per day.

I wanna say there's a 5000% per day trade, but I don't have the Screen Shot for that. And as nobody going to believe something without a proof, so it's really up to you guys whether to believe or not.

EA? nope.

Me and my fellow traders prefer manual trades.

Calm down, relax, analyze price movement with the help of tools in MT4, and Entry upon confirmation with a set of rules.

Sounds simple. but discipline will make or break your trade.
  • #47
  • Sep 21, 2010 5:22am Sep 21, 2010 5:22am
Quoting Trad3r
Oh, no, another x -> one billion dollars thread.

http://www.guiagamer.com/wp-content/...d-facepalm.jpg

I bet that in less than 3 months you have blowed up your account, post here your myfxbook evolution and prove that I'm wrong, it's not necessary to public your strategy, you can hide your trades at myfxbook, show only your balance evolution.

And by the way, why stop with a billion dollars? Why not continue trading until get a TRILLION dollars?
exactly my thoughts.
  • #48
  • Sep 26, 2010 1:58am Sep 26, 2010 1:58am
I guess I have 1 more month to go, before I can come back with the Myfxbook link.

Sept20-5.2
Sept21-6.4
sept22-67.3
sept23-19.7

at 26.57% from the beginning of Sept 6th
  • #49
  • Oct 8, 2010 12:40am Oct 8, 2010 12:40am
I lol'd

Yes it could work, if you had NO down days. Now, account for a few down days here and there it would just take longer. However, it shouldn't be about the money. If you really love what you do, you will have the dedication and drive to through the through times. That dedication and drive will make you a lot of money no matter what you are doing. Just look at bill gates, he has all that money and he doesn't trade for a living.
https://www.huntingtrader.blog
  • #50
  • Oct 9, 2010 7:41am Oct 9, 2010 7:41am
Quoting kostas1
I agree with pipmutt but I always had this question that was never answered by someone that did it.
I am following a similar plan where my lot size increases with my account (3% daily growth/risk achieved with 30-40 pips per day). I started from 0.1 lots, and I am now close to 1 lot. When the account reaches a size that allows 4-5 lots for those 30-40 pips (at 3% risk), I am planning to stop raising the lot size, since that would provide 1000E per day. Now the question is:
[i][b]Has anybody followed a plan like that and stayed successful for the...

yes, definetly we can
Only thing is we should have a BEST TRADING STRATERGY
tht is, the entry point n exit point
Thn definetly we can achieve it

Thanks
  • #51
  • Oct 9, 2010 8:01am Oct 9, 2010 8:01am
Quoting traderjai_inhi
Dont!
Defntly, u can achieve it
jst u hv to learn Money Management

Thts all
  • #52
  • Oct 9, 2010 11:29am Oct 9, 2010 11:29am
Quoting Ipndasno
The Big Picture

I wanted to share this information with the new traders, because they often forget about the long term picture and focus on huge gains at day one. You do not need 100 pip swing trades or huge gains everyday.

All you need is 20 pips consistently. So, yes some days you may make more and some days you may make less, but it order for you to become a full time trader, you must make 100 pips a week for years to come... This means that you do not need to risk your accounts, by trading news, or market opens. All you need...
You know this is easily achievable in my eyes it just takes getting rid of greed. There are multiple ways you can do this. You can do 20 trades a day and make $1 a pip (99.9% of my trades can do at least 1 pip profit even if the trade turns later.

Unfortunately people don't realize there are tools out there that allow you to set a 1 pip stop loss after your order of entry such as forex executorpro or Hidden stop loss (i am not affiliated with any marketing I am just giving examples of programs that can do this). I bet not many people know they can set a 1 pip stop loss or a 1 pip trailing stop.

Cheerio.
Know when to hold em, Know when to fold em!
  • #53
  • Oct 9, 2010 2:03pm Oct 9, 2010 2:03pm
Is it possible?
in real trading did you see sb reach to this kind of trading system ?
  • #54
  • Oct 10, 2010 12:35pm Oct 10, 2010 12:35pm
Quoting The sandman
Is it possible?
in real trading did you see sb reach to this kind of trading system ?

Its a business not a system
Know when to hold em, Know when to fold em!
  • #55
  • Oct 11, 2010 6:17pm Oct 11, 2010 6:17pm
Quoting qwertymyfx
exactly my thoughts.

I understand the " oh No. Not another one of these threads"

http://www.forexfactory.com/showthread.php?t=236772
$2000- $2mil in 8 years
http://www.forexfactory.com/showthread.php?t=6292
$5000 to $5mil in 3 years
http://www.forexfactory.com/showthread.php?t=227023
$1000 to $3mil in 30 years.

Very interesting in deed.
-Has any of these members completed their task?
Did they deviate from their trade Plan?
Did they blow their account on 1 bad trade?
Or are they implementing their trade plan on a daily basis.
  • #56
  • Oct 21, 2010 4:09am Oct 21, 2010 4:09am
I can't believe how many zero's I saw in the title. lol
  • #57
  • Oct 21, 2010 11:17am Oct 21, 2010 11:17am
I Like the Idea of the OP -maybe it is unrealistic in it sense due to many factors to consider but the main idea that I get
is that there is good return in consistence - one step at a time -..

Thanks for idea. Greatly appreciated..
  • #58
  • Oct 22, 2010 4:12am Oct 22, 2010 4:12am
the common theme i always see amongst failed business owners is that they seem to always talk about potential profits. They spend less time on planning and strategizing and prepare for the worst case scenarios. Instead they focus on future expansion plans (even though they haven' event netted any profits) and other trivial stuff like website looks, company name, etc.

I see that comparison with this thread. We all know you can compound your gains which can lead to bigger profits. But don't use theoretical spreadsheet 'results' and jackin your mind off of it. Just trade well and manage risks and prepare for that worst case scenarios. The profits will take care of themselves.
  • #59
  • Oct 22, 2010 5:10am Oct 22, 2010 5:10am
Quoting blackchapman
I Like the Idea of the OP -maybe it is unrealistic in it sense due to many factors to consider but the main idea that I get
is that there is good return in consistence - one step at a time -..

Thanks for idea. Greatly appreciated..
Yes, but in real life you can't get that consistence rate of return.

The problem in this type of hypothetical calculation is that, it doesn't pay attention to an important aspect: "distribution of the returns".
  • #60
  • Oct 22, 2010 7:34am Oct 22, 2010 7:34am
Quoting VonTrader
Yes, but in real life you can't get that consistence rate of return.

The problem in this type of hypothetical calculation is that, it doesn't pay attention to an important aspect: "distribution of the returns".
First I like your quote: Tricks and treachery are the practice of fools, that don't have brains enough to be honest , Benjamin Franklin

Yes, I have to say, I also started with those crazy calculations some years ago... meaning that I would try to "train the market" so that the market would "give me a calculable daily return"....
It doesnt work this way...
you will never be able to trade in a way that is consistent... you have to have an adaptable strategy....
to have say 1% everyday IS NOT adaptable, because the market might give you -2% a day, and +5% another.... you have to adapt....
if you set such rigid goals you are endangering your adapting skills...

Its okay to have daily or weekly or monthly goals... but they should only be a guideline... Something like a "trendline" if you wish... Why not use trendlines on your own moneymanagement? Then you see when you have a drastic downtrend... lol

NEVER EVER try to force something on the market... meaning:

I still have to get 1% to reach my daily goal, the market has to give it to me, thats why I open this position here, blabla...

Or: Well, I have already earned my daily X% so I am going to close my position now.

This is wrong thinking.
this pig cannot be slaughtered for ever... or can it?
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