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How do I make millions trading Forex?

  • #21
  • Jul 20, 2011 7:54am Jul 20, 2011 7:54am
Yes it may be done!
If you always use 10% of your accountbalace. It would take 73 correct trades using a 10% risk/reward as follow:

1000$ trade 1 (R/R 100$)
1100$ trade 2 (R/R 110$)
1210$ trade 3 (R/R 121$)
1331$ trade 4 (R/R 133$)
bla bla bla bla
789 747$ trade 71(R/R 78 974$)
868 722$ trade 72 (R/R 86 872$)
955 594$ trade 73 (R/R 95 559$)
1 051 153$ DONE

All you need is 73 correct trades within a year!
Easy, right?
  • #22
  • Jul 20, 2011 7:57am Jul 20, 2011 7:57am
Quoting anderssv82
Yes it may be done!
If you always use 10% of your accountbalace. It would take 73 correct trades using a 10% risk/reward as follow:

1000$ trade 1 (R/R 100$)
1100$ trade 2 (R/R 110$)
1210$ trade 3 (R/R 121$)
1331$ trade 4 (R/R 133$)
bla bla bla bla
789 747$ trade 71(R/R 78 974$)
868 722$ trade 72 (R/R 86 872$)
955 594$...
well, since that will never happen, such a calculation is pretty useless.
  • #23
  • Jul 20, 2011 8:36am Jul 20, 2011 8:36am
Quoting BrianMaiden
As a newbie, can you expand on that please?
WTF! Really? Expand on the word "idiot"?

When you see the 6540668576210873546816873205890816598416980985919th person on this forum asking how to make a million in a year/month/hour/milisecond, you start being a firm believer in idiots.

http://www.merriam-webster.com/dictionary/idiot
Not all sins are created equal
  • #24
  • Jul 20, 2011 3:58pm Jul 20, 2011 3:58pm
Quoting anderssv82
Yes it may be done!
If you always use 10% of your accountbalace. It would take 73 correct trades using a 10% risk/reward as follow:

1000$ trade 1 (R/R 100$)
1100$ trade 2 (R/R 110$)
1210$ trade 3 (R/R 121$)
1331$ trade 4 (R/R 133$)
bla bla bla bla
789 747$ trade 71(R/R 78 974$)
868 722$ trade 72 (R/R 86 872$)
955 594$...
If I can't do that on demo I can't do it with real. so no not easy damn it.
  • #25
  • Jul 20, 2011 6:12pm Jul 20, 2011 6:12pm
Quoting anderssv82
It would take 73 correct trades using a 10% risk/reward as follow:
You don't need 73 correct trades, far from it, 2 or 3 good trades and you could make a million playing the forex, see my post above. A Canadian forex trader of mine made over 1.3 million during the extremely volatile 2008-2009 market, when a few currency pairs routinely moved 1,000 pips or more in a single day.

His starting capital? Believe it or not less than $4,000.

This is what happens when you pyramid your profits using 400 or 500 to 1 leverage. But it takes nerves of steel and a high roller mentality to let the profits run to the max!

Could he repeat such a feat? I seriously doubt it, but hey, I bet he does not care now.
  • #26
  • Jul 20, 2011 11:46pm Jul 20, 2011 11:46pm
Quoting CapitalismPr
Can it be done within a year???
I just wonder with experienced trader, how much money they earn a year from 1000$ start.
  • #27
  • Jul 21, 2011 1:32am Jul 21, 2011 1:32am
Quoting koi99
I just wonder with experienced trader, how much money they earn a year from 1000$ start.
if you are earning 50 to 100% a year, you are doing really well.
  • #28
  • Jul 21, 2011 1:34am Jul 21, 2011 1:34am
1-2 trade a day, 5-15M chart, 80% a month. But you need time, experience, and knowledge of the market.
  • #29
  • Jul 21, 2011 2:23am Jul 21, 2011 2:23am
Quoting mavricos
1-2 trade a day, 5-15M chart, 80% a month. But you need time, experience, and knowledge of the market.
exactly, if you start with 1000 $ then you will have a million $ after a year and after two years a billion $, if you compound it.

You must be crazily rich. Please show me where you are in the forbes list of billionaires. What are you doing on a forum like this, if you can earn so much money consistently?

If you ask me, total bs.
  • #30
  • Edited 2:45am Jul 21, 2011 2:29am | Edited 2:45am
I didn't say that i am rich, i am living from forex, but soon i am gonna be on cover of fox magazine. What i am doing here, checking Sonic and thv systems updates. Forex is my life, and it gives opportunity to live however you want to anyone. It is depends on the person how much he wants it. Custos you can start from forex club it was mine first school, also nisons candles is the best, when you gonna understand how is market works, you can start with a systems. Systems gives you a method to analyse market in easier way.
  • #31
  • Jul 21, 2011 1:32pm Jul 21, 2011 1:32pm
Quoting mavricos
1-2 trade a day, 5-15M chart, 80% a month. But you need time, experience, and knowledge of the market.
Believing just for one second that it is possible to consistently make 80% a month playing the Forex market is like believing in Santa Claus! If you can make 80% a month you can turn a mere $1,000 into over a BILLION dollars in 2 years.

Mavricos, a trader who can make 2 to 5% a month on average (while keeping his drawdown under 25%) is already an exceptional trader. Most hedge funds cannot even make 3% a month consistently. That's the reality of trading, there is only so much you can extract from the market.
  • #32
  • Jul 21, 2011 1:34pm Jul 21, 2011 1:34pm
Quoting Mr Breakout
Believing just for one second that it is possible to consistently make 80% a month playing the Forex market is like believing in Santa Claus! If you can make 80% a month you can turn a mere $1,000 into over a BILLION dollars in 2 years.

Mavricos, a trader who can make 2 to 5% a month on average (while keeping his drawdown under 25%) is already an exceptional trader. Most hedge funds cannot even make 3% a month consistently. That's the reality of trading.
finally somebody who has as well a realistic view on trading and the results which can be achieved.
  • #33
  • Jul 21, 2011 1:53pm Jul 21, 2011 1:53pm
don't be so typically idiotic!

the damn market doesn't afford LIMITLESS POTENTIAL TO GIVE YOU MONEY! there comes a point where you simply can not extract more money than is available in the market at any one time. add slippage and moving the market with your own orders and you can start to see why maybe this bullshit backwards reasoning needs to die!

if you would just take a few moments to really think it through. really REALLY ponder on the thought for just a little while.

trading affords a person the ability to amass money beyond working at the local micky d's drive-through. it's comparatively limitless, but in reality obviously NOT.

until the day arrives where a market actually prints it's own money, injects this into the market, and stops being a zero-sum game between participants and evolves into a positive-sum game... then this whole "you will be a gazillionaire in x days/weeks/years" idiocy needs to STOP.

you make up some completely flawed example of what can't be done to (wrongly) prove to everyone why making really decent money in trading is simply not possible. well you know what? unicorns aren't real but i still believe in horses.... see how that works? of course not.
Congratulations ScalaFX for coming out of the closet!
  • #34
  • Jul 21, 2011 2:04pm Jul 21, 2011 2:04pm
Quoting nubcake
don't be so typically idiotic!

the damn market doesn't afford LIMITLESS POTENTIAL TO GIVE YOU MONEY! there comes a point where you simply can not extract more money than is available in the market at any one time. add slippage and moving the market with your own orders and you can start to see why maybe this bullshit backwards reasoning needs to die!

if you would just take a few moments to really think it through. really REALLY ponder on the thought for just a little while.

trading affords a person the ability to amass money beyond working...
let's talk again once you are profitable and really earning insane amounts of money. I used to have the same thinking as you early on in my trading. It just changed over the years. Maybe you are a better trader than me and will reach the goal you set for yourself.

Nowadays I am happy with a 50 to 100% return over a year with relatively low risk, cause I know that I can very likely pull that off year after year.
  • #35
  • Edited 2:38pm Jul 21, 2011 2:12pm | Edited 2:38pm
it's all such crap. crap built on crap. a crap castle of crapitude! typical for the forum.

hmm, let's have a think for a moment. if someone has $1000 is it possible for them to make 1% in a day? of course it is and they would like to do this for some time until they scale back their size and / or scale back the time they spend trading. if after a days worth of trading, having access to a wide range of trading vehicles to monitor and find opportunities to enter a position, a trader can't scrape out on average a measly $10 then surely they are doing something wrong or the markets were asleep and none moved all day!

ok then so what about someone who has an account with 1000 billion dollars? can they make 1% a day on their 1000 billion dollars? OF COURSE NOT (and why would they even WANT to?)! do you really think they are going to be able to enter trades of enough size and / or frequency to return 1% on 1000 billion dollars in just one day? even with the wide range of markets to enter positions? thinking caps on people!!! let the brain warm up and get into gear and then ponder away at that thought. once you have let it stew in that mushy gray garbage you call a brain for long enough that you start hallucinating then stop and consider the conclusion you have reached. write down your answer on a piece of paper and then tape this to your computer monitor for future reference.

because i can ride a sports bike obviously means i can pilot a shuttle to the moon, right? i think it's safe to assume i can't pilot a shuttle anywhere, not even on the tarmac. THIS DOESN'T MEAN I CAN'T RIDE A SPORTS BIKE AT HIGH SPEED! one thing being unlikely or impossible doesn't make something else unlikely or impossible!
Congratulations ScalaFX for coming out of the closet!
  • #36
  • Jul 21, 2011 2:19pm Jul 21, 2011 2:19pm
Quoting nubcake
it's all such crap. crap built on crap. a crap castle of crapitude! typical for the forum.

hmm, let's have a think for a moment. if someone has $1000 is it possible for them to make 1% in a day? of course it is and they would like to do this for some time until they scale back their size and / or scale back the time they spend trading. if after a days worth of trading, having access to a wide range of trading vehicles to monitor and find opportunities to enter a position, a trader can't scrape out on average a measly $10 then surely they...
Excellent post
  • #37
  • Jul 21, 2011 2:20pm Jul 21, 2011 2:20pm
Quoting nubcake
it's all such crap. crap built on crap. a crap castle of crapitude! typical for the forum.

hmm, let's have a think for a moment. if someone has $1000 is it possible for them to make 1% in a day? of course it is and they would like to do this for some time until they scale back their size and / or scale back the time they spend trading. if after a days worth of trading, having access to a wide range of trading vehicles to monitor and find opportunities to enter a position, a trader can't scrape out on average a measly $10 then surely they...
yeah I know the liquidity issue. And for that I say yes you are right.

Let me put it another way, there is probably not a liquidity issue with 1 million bucks, right?
So, if somebody claims he makes 80% a month, then he can compound starting with 1000$ up to 1 million bucks, cause that takes exactly a year. That is a 100,000% return. I personally have never heard of anybody who was ever able to do that and I also don't think anybody exists who can pull that off. (I might be wrong though).

But it is just so unrealistic that everybody on the forum thinks they can even come close to such a high yearly return. Yes, the crap is on this forum, but not on my side.

EDIT: But again, probably there are traders here vastly superior and more successful than me, so I salute you all who can and did pull this off. (But it is no wonder that such challenges (1000$ to a million $ in a year) normally land in the rookie forum).
  • #38
  • Jul 21, 2011 2:28pm Jul 21, 2011 2:28pm
actually, 2 final questions...

1. if we should EXPECT to only make x% roughly per day on average then what is this x%? clearly 1% is considered astronomical, so what IS this tiny fraction we should all expect to be possible?

2. having defined x% with a real number, what amount of money MUST a trader start with in their account to realize these fractional percentage gains in a day? if 1% of $1000 is $10, and this is considered a phenomenal amount of gain, and someone trading 0.01 lots would SURELY make a few dollars after a day of trading (based on actually being profitable and having an edge), then by this reasoning what IS the account size required to reasonably reach x%? is 0.5% reasonable and therefore the account MUST be around $2000 to even bother trading? is 0.1% reasonable and therefore the account MUST be around $10,000 to scrape out a $10 return in a days trading?

what is the balance point between account gain and account size, keeping in consideration that 0.01 lots is the smallest possible order size?
Congratulations ScalaFX for coming out of the closet!
  • #39
  • Jul 21, 2011 2:37pm Jul 21, 2011 2:37pm
Quoting nubcake
actually, 2 final questions...

1. if we should EXPECT to only make x% roughly per day on average then what is this x%? clearly 1% is considered astronomical, so what IS this tiny fraction we should all expect to be possible?

2. having defined x% with a real number, what amount of money MUST a trader start with in their account to realize these fractional percentage gains in a day? if 1% of $1000 is $10, and this is considered a phenomenal amount of gain, and someone trading 0.01 lots would SURELY make a few dollars after a day of trading (based...
I think the problem is that some days you win and some days you will lose. So, you can't say how much you should earn per day. You should look at what you will earn with your approach on a yearly basis and cut it through 260 week days. Then you have a % figure you should make on average per day.

The second question is ultimately answered with the max drawdown your strat is experiencing. Obviously with a method that only has 20% drawdown, you can go in with higher lot-size in general, than a method that has 50% drawdown.

That's why I always try to find ways to reduce my max drawdown, to be able to go in with more lot-size.

But that's just what I found. Maybe some other traders can contribute as well.
  • #40
  • Jul 21, 2011 2:40pm Jul 21, 2011 2:40pm
Quoting Custos
I think the problem is that some days you win and some days you will lose. So, you can't say how much you should earn per day. You should look at what you will earn with your approach on a yearly basis and cut it through 260 week days. Then you have a % figure you should make on average per day.
Actually sorry, I think you can't just calculate it like that if the yearly figure is compounded, let me think it through...
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