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

  • #81
  • Nov 24, 2010 2:08am Nov 24, 2010 2:08am
Quoting Moody
"If you could only get 20 pips..."

It just seems to me that the best approach would be to work on responding to and trading the market, not an account balance.
This is true, but we need a set Trading Plan before we can engage ourselves into the market. Without a Trading Plan, you might as well trade until you Lose.
  • #82
  • Nov 24, 2010 8:27am Nov 24, 2010 8:27am
Quoting Moody
It just seems to me that the best approach would be to work on responding to and trading the market, not an account balance.
I would avoid using 'balance' to define anything, because balance can mean more than one thing. I would rather define it as equity, because no matter what is going on with the account, equity is the most important figure.

When you have a method that works to some degree it's only natural to try to see how long it will take to reach your goal, so this isn't always about an amount of equity, but more of an event of planning in my opinion.

Obviously if you don't have a successful method or trading plan this discussion is pointless... no sense in putting the cart before the horse.


(quote) EXAMPLE:
assumptions:
1. 70% winrate
2. Ave Win = win/risk 40 pips/20 pips = 2 (or X dollars or X %)
3. Ave Loss = loss/risk 20 pips/20 pips = 1
4. Risk 2% per trade
5. Want 20% per month

so E = (AWin*winrate) - ( ALoss*loserate) = (.7*2)-(.3*1) = 1.1

Trades needed = 20%/(2% * 1.1)...(/quote)

bingo! I actually like to see a 75% win rate, but it can be difficult to keep it that high long term. The 20% a month is a nice average to get to if you can manage it.
  • #83
  • Nov 24, 2010 8:33am Nov 24, 2010 8:33am
Hehe, no wonder this thread is in the rookie section.
  • #84
  • Dec 9, 2010 1:18pm Dec 9, 2010 1:18pm
Quoting qwertymyfx
Hehe, no wonder this thread is in the rookie section.
No wonder why you are still losing
  • #85
  • Dec 9, 2010 1:30pm Dec 9, 2010 1:30pm
You would be surprised how many traders look past the trading plan. Maybe we all have trading plans in front of us, but once we are in a trade that trading plan is about effective as an umbrella in a hurricane. It not going to protect you to say the least.

Now from reading some of these previous posts, the main concept that is regurgitated over and over again. is " We all know that we will have bad days"

Very true indeed. So, how can we stay on track knowing that everyday can not be a winner? Well the most obvious, is if you are not feeling 100% and or the market is not suitable for your system, than you should probably sit out until the planets realign.

For myself, attitude is the most important aspect to my success. If I have anything on my mind besides the game plan, I avoid trading completely. So since I know that I can not make a successful trade everyday because we are emotional human being that can be easily sidetracked, I have to make more pips on the days that I can, to account for the the down days. Now this is the same concept that should fix the problems of the "losing day" as well. The 20 pips a day is a check and balance to keep us on course. It does not have to be set in stone. Maybe just focus on the 100 pips a week.
  • #86
  • Dec 9, 2010 1:31pm Dec 9, 2010 1:31pm
Quoting pip_seeker
I would avoid using 'balance' to define anything, because balance can mean more than one thing. I would rather define it as equity, because no matter what is going on with the account, equity is the most important figure.

When you have a method that works to some degree it's only natural to try to see how long it will take to reach your goal, so this isn't always about an amount of equity, but more of an event of planning in my opinion.

Obviously if you don't have a successful method or trading plan this discussion is pointless... no sense...
Very good explanation. Yes balance is quite artificial as Equity is the only thing you can withdraw from your account
  • #87
  • Dec 9, 2010 1:39pm Dec 9, 2010 1:39pm
Quoting Ipndasno
The Big Picture


This is not some far fetched dream, nor is this impossible. We are not getting greedy, and we are not shooting for the stars.
We have realistic goals and we can achieve them. Yes you will need a solid strategy and discipline to follow that strategy day in and day out. But it is all very possible.
Still grinding out the pips
  • #88
  • Dec 9, 2010 1:41pm Dec 9, 2010 1:41pm
Hi there

I think one of the biggest problems for new traders is the get rich kwik mentality. They should concentrate on learning their craft with the goal of making slow and steady returns with some growth on their account.

kal
  • #89
  • Dec 9, 2010 1:44pm Dec 9, 2010 1:44pm
sorry also meant to say most traders want to shoot for big gains(pips) but what is wrong with more modest, consistent gains? On most forums here guys are shooting for hundreds of pips but the more modest approach is more amenable with consistency IMHO

kal
  • #90
  • Dec 10, 2010 12:10am Dec 10, 2010 12:10am
There is a problem that is if you trade with 20 pips a day then probably you will use low timeframe such as 1hr which does not work at all in the long run.
  • #91
  • Dec 19, 2010 1:31pm Dec 19, 2010 1:31pm
Don't get caught up with your emotions. That's my advice.

You sounded like you know your stuffs. I like the way you know how you want to go about doing things when you get caught up in different situations, like when you're not in a balanced state, you choose not to trade. But its all talk until we see some results =)

Take a look at this. This is what I see at the bottom of the thread.
http://img689.imageshack.us/img689/2258/sshot1xj.png

Isn't it a little too common to make us all skeptical?
  • #92
  • Dec 20, 2010 7:11pm Dec 20, 2010 7:11pm
I have read the all the posts on this thread, I think the approach of this thread is theoretically possible, and could work in real life too.
BUT!! At some point I think brokers will refuse to give leverage.. Or are there brokers willing to offer leverage with accounts that big??
Anyway good luck
  • #93
  • Dec 20, 2010 8:19pm Dec 20, 2010 8:19pm
Quoting perroloco
BUT!! At some point I think brokers will refuse to give leverage.. Or are there brokers willing to offer leverage with accounts that big??
Anyway good luck
Its not about the leverage... many brokers have maximum transaction amount.

Plus: the bigger the amount, at one point you will trade directly in the markets and not in the virtual world of a market maker...

And in the real market there will be quite substantial slippage and execution time once you bet 100 millions or so.
this pig cannot be slaughtered for ever... or can it?
  • #94
  • Dec 21, 2010 4:13am Dec 21, 2010 4:13am
Quoting Ipndasno
$1000 to $1,000,000,000 in 4 years
Trade with $70,000 and you will have $70 Billion in 4 years. You will be the richest man in the world.
  • #95
  • Jan 2, 2011 2:47am Jan 2, 2011 2:47am
Quoting honestb
Trade with $70,000 and you will have $70 Billion in 4 years. You will be the richest man in the world.
Everything possible even in an impossible situation if only luck favors every time but alas it will virtually never happen that one may confirm even 1 pip positive every single day. For this single pip may stagger -1-1+3=1, -20-12-2+35=1 likewise .
so there must be loosing trades while on calculation & all day may even not positive & +- may left less than expected.

But virtually it is very possible one can profit + 20 pips per day & stop there & do other things around.

while trading 70K $ may to use 7lots per trade at start is too high to get all done perfectly even get 20 pips per day consistently.

just looking this equation as an example for only 1 pip using 7 lots size .

-20-12-2+35=1
-20 pips =1400$ left
-12pips =840$
-2pips=140$
so already lost 2380 $ before he recovers all + only 70$ & lucky ,
that is lots of risks still there in getting small pips, risked 4 times to get correct 1 time & consistently expose for everyday may not that lucky .Not telling that he may not get 1 pip in only 1 trade but may not all day , if only 1 day slipped taking profit with repeated 4 tries what will happen ?2380 + min 0 or more =2380$ or more loose 1 day will cost min 34 days possible profit in one single day.

using smaller lots size for the money with proper money management & target base job possible for everybody , I beleive .

thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #96
  • Jan 3, 2011 9:31pm Jan 3, 2011 9:31pm
my best wishes to all to make it to the 1B mark.
but from my own perspective, and this is just my thinking, so im sorry if this offends you.

you know how to spot the sharks (smart money) in the market, but can you spot these shark in real life? (for the lack of a better example, young and sexy divorcing billionaires)

you are successful in plugging losses from the market by keeping losses small, but can you fight the temptation of money using you as a vessel to flow through in real life??
  • #97
  • Jan 8, 2011 6:01pm Jan 8, 2011 6:01pm
make 20pips a day is not difficult,but could you make 20 pips per day in 4years?

BTW could you please make me become a member,admin?
i have some problems in one strategy and i cannt post it,cos i am a junior member.thanks
  • #98
  • Jan 16, 2011 8:00am Jan 16, 2011 8:00am
Quoting nick.s
make 20pips a day is not difficult,but could you make 20 pips per day in 4years?

BTW could you please make me become a member,admin?
i have some problems in one strategy and i cannt post it,cos i am a junior member.thanks
Super , you are a super talent I see ,. only 4 post & got 1 vouch.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #99
  • Feb 7, 2011 7:40pm Feb 7, 2011 7:40pm
I've been profitable for 160+ days consistently, but two technical errors has taken a 218% bite out of my risk capital.

On Dec 13th, lost 115% - was at a 92% gain = -23% from the starting of NOVEMBER

On Jan 13th, lost 103% - was at a 38% gain = -65% from the starting of NOVEMBER

Currently at 28% gain from Jan13th == -37% from the starting of NOVEMBER ;-(

Prevention:
30% Stopout in place with Broker
Emergency Stoploss on all trades submitted to broker

The journey continues...20 pips a day +/-
  • #100
  • Feb 7, 2011 7:43pm Feb 7, 2011 7:43pm
Quoting kamikade
There is a problem that is if you trade with 20 pips a day then probably you will use low timeframe such as 1hr which does not work at all in the long run.
Please explain!
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