Controlled Gambling - $81 to $100k | Forex Factory

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Attachments: Controlled Gambling - $81 to $100k
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Controlled Gambling - $81 to $100k

  • #1
  • First Post: Edited Dec 15, 2011 4:46pm Dec 11, 2011 9:28pm | Edited Dec 15, 2011 4:46pm
i am trying to archive 100k from one of test account (initial plan was $100 to 100k but my test account had only $81). theoretically it's possible to do, i would like test this controlled gambling strategy.



conditions :

1. you have to donate $81 to your broker , if your lucky enough you may get it back
2. you have to stick with plan. do not over trade. once you have reach daily target stop trading for the day
3. i hope my formula is correct
4. do not spend more than 1h per day.
Attached Image (click to enlarge)
Click to Enlarge Name: control_gambling.png Size: 82 KB



Edit : 1st day target achieved - (some srewup on plan due to human error ) i will update weekly , stats available @ http://www.mt4i.com/users/gambling/stats




http://www.mt4i.com/banner.aspx?id=gambling&t=300


edit :
Account type : Live
Balance @ start : 81.04
Leverage : 200
Base currency : AUD
Start Date : 12/12/11
Mohan
  • #2
  • Dec 11, 2011 10:48pm Dec 11, 2011 10:48pm
I have a similar method scaling up as my balance increases. I try to be ahead 50 pips a day. Good luck!
  • #3
  • Dec 12, 2011 12:23am Dec 12, 2011 12:23am
Quoting RBlackburn
I have a similar method scaling up as my balance increases. I try to be ahead 50 pips a day. Good luck!
thanks , i thought about that , but as it's a gamble i would like to keep it @ non addiction level. (i am a full time trader, i can't afford addiction )
Mohan
  • #4
  • Dec 12, 2011 8:47am Dec 12, 2011 8:47am
Tracking your progress should be interesting .

I am trading similarly, but with more modest goals.
  • #5
  • Edited 6:44pm Dec 12, 2011 2:42pm | Edited 6:44pm
Quoting IamBorg
Tracking your progress should be interesting .

I am trading similarly, but with more modest goals.
it's gambling not trading , on my book targeting more than 10% per month is not trading.

for trading check this thread http://www.forexfactory.com/showthread.php?t=293185

Edit: double stop loss today looks it going from 81 -> $0
Mohan
  • #6
  • Edited 5:59pm Dec 14, 2011 5:41pm | Edited 5:59pm
on 2 nd day i have faced worse hit broker frozen while price moving against me, big loss , account balance draw down by 28%. i have forced to take abnormal approach to re gain loss and get back in track. this approach is not recommended as it will lead to big loss in long run. i also have made a small in mistake in planing i should have choose .05 lot at least for first 2 weeks. any how i am back on track with approx target for 3 day @ 4th day morning

Note : i only trade on this account while i am not trading on my trading account .
Mohan
  • #7
  • Dec 14, 2011 5:59pm Dec 14, 2011 5:59pm
Quoting mohan76
on 2 nd day i have faced worse hit broker frozen while price moving against me, big loss , account balance down by 20%. i have forced to take abnormal approach to re gain loss and get back in track. this approach is not recommended as it will lead to big loss in long run. i also have made a small in mistake in planing i should have choose .05 lot at least for first 2 weeks. any how i am back on track with approx target for 3 day @ 4th day morning

Note : i only trade on this account while i am not trading on my trading account .
can i make a suggestion ? in the times when markets are in a clear downtrend its best to wait for a good level and open positions which you keep open (with stoploss at breakeven). Everytime you close and re-enter you open your account up to risk. Remember every new open position is new risk whereas if you open a big trade at the right level you could just manage that and minimize your risk. Thats how you gamble your way up.
Money is the result derived from the execution of a skillset
  • #8
  • Dec 14, 2011 6:00pm Dec 14, 2011 6:00pm
Go and buy a Lamborghini for me when you make it to that $100k. You can do it. Let's see how you deal with the next loss though.
PhD with a specialty in economics & finance.
  • #9
  • Dec 14, 2011 6:09pm Dec 14, 2011 6:09pm
Quoting Marquis
can i make a suggestion ? in the times when markets are in a clear downtrend its best to wait for a good level and open positions which you keep open (with stoploss at breakeven). Everytime you close and re-enter you open your account up to risk. Remember every new open position is new risk whereas if you open a big trade at the right level you could just manage that and minimize your risk. Thats how you gamble your way up.
few time got sl be i have to split time between trading and gambling (gambling effect started screw my trading)
Mohan
  • #10
  • Edited 4:36pm Dec 15, 2011 2:06am | Edited 4:36pm
I have finishing week bit early , today i had lot sl @ be. i have covered Friday trade today

Gambling was gone without control , hope i can bring it under control next week time (now i have some room in equity to breath)


http://www.mt4i.com/banner.aspx?id=gambling&t=300
Attached Image (click to enlarge)
Click to Enlarge Name: control_gambling.png Size: 72 KB
Mohan
  • #11
  • Dec 15, 2011 2:20am Dec 15, 2011 2:20am
Start with £100 and double your account 14 times in 14 trades, in theory this could be done in 1 day, easy?

Thats an idea for a gameshow, a 'traders million pound challenge, you're allowed a maximum of 14 trades'.
  • #12
  • Edited 3:08am Dec 15, 2011 2:38am | Edited 3:08am
Quoting GDR3k
Start with £100 and double your account 14 times in 14 trades, in theory this could be done in 1 day, easy?

Thats an idea for a gameshow, a 'traders million pound challenge, you're allowed a maximum of 14 trades'.
good idea let see how i go with this game , i will try your idea after after 2 years , need more knowledge (may be 14 days)

Edit : its not possible need 1000/500 pips per trade
Mohan
  • #13
  • Dec 16, 2011 8:33pm Dec 16, 2011 8:33pm
Quoting mohan76
good idea let see how i go with this game , i will try your idea after after 2 years , need more knowledge (may be 14 days)

Edit : its not possible need 1000/500 pips per trade

How is this challenge going?
  • #14
  • Dec 16, 2011 9:30pm Dec 16, 2011 9:30pm
Quoting phenomenal
How is this challenge going?
so far on track apart from number of trading , i hope i can brink it under control from this week. i don't think i will have any problem on phase 1,2,3. real test @ phase 4
Mohan
  • #15
  • Last Post: May 12, 2021 12:35am May 12, 2021 12:35am
Hello, Is this thread still work? I saw your great chart but I have no idea HOW TO DO it
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