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Attachments: A "doable" way to take a $300 account to $1 million in 45 months
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A "doable" way to take a $300 account to $1 million in 45 months

  • #21
  • Jun 16, 2012 4:05am Jun 16, 2012 4:05am
Because of threads like this I read and post very rarely on forums. All this looks great on paper, but actually doing this is a different matter. People writing such crap probably have never traded. 5% per trade? Good luck!
  • #22
  • Jun 16, 2012 4:09am Jun 16, 2012 4:09am
The post reminds me of the times I read things like that online with some fella posting shots of his bank account, posing with a ferrari and a supermodel bent over the front when I was first getting interested in FX, giving me a boner thinking I'll be a millionaire in 6 months if only I enter the trade when x crosses y and the green dot appears above the candle, promising untold riches, bitches and fast cars, however.
  • #23
  • Jun 16, 2012 4:56am Jun 16, 2012 4:56am
The risk per trade aside, he does have a point that is always ridiculed as a pipe dream. Meager and consistent profits in trading with compounding can lead to great results that sound absurd.

But in the end it can depend on something like 5pips a day like the op mentions, or 20p a week like ICT mentions over at babypips, are those figures truly near impossible to get on a fairly consistent basis?
  • #24
  • Jun 16, 2012 6:03am Jun 16, 2012 6:03am
Anything is possible, not just in trading either.

If you limit yourself in you thoughts, you already have a limit on your physical ceiling.

It is just a case of Risk Vs Reward X Time.

You havent even got to be a high % winner, just manage your 2:1, 3:1,5:1
or more ratio.

The originator of this thread, had the document for 5 years and done nothing with it, because of his lack of commitment to forex.....Just , like many a collector of info!!!!

I can certainly say in the western world people are looking for "MICROWAVE SUCCESS"

Let me tell you it doesnt happen !!

Example

People that i know through my wife, who are on a diet, my wife is included in this scenario.

Start their diet on a Monday ( as always get the weekend festivities out the way...lol) Mon, Tues goes well, Wed start to flag a bit, thurs is naughty little bits of eating snacky stuff. Which make Fri, " im a just gonna treat myself, make myself feel good". Sat is just a blow out because they are off the rails with the diet. By sunday what do i hear "i am going to start my diet MONDAY"

Geez............... Different diets, different times, different foods.

Just get off you fat lazy ass and eat less.

You can see the same attributes in many different challenges and aspects in life......to give up smoking, gaining that 6 pack, to becoming fitter.

We just want it all NOW!

But we are not prepared to put in what is needed.

Wishy washy dream state........thats what i call it.

These great people, do you think they had a dream or do you think they had a dream and took massive action.

http://www.biographyonline.net/peopl...ged-world.html

Do not now tell me things are not possible

It starts with a dream, from that dream you make a decision, from that decision you make a plan, from that plan you take MASSIVE action, from that action you have commitment, from that commitment you strive to your goal.

These are the people that change our history, our lives. Did they have a wishy washy dream? did the give up after a week and say " this is a bit hard"

Back to trading, When things arent going your way for what ever reason i suggest you look at yourself first.

Failure at any level is normally because you are to bone idle,lazy and lack any direction.

God i am ranting.


You can reach these goals in Forex, but most of us so called traders are to bone idle to follow a plan, thats even if we know how to trade in the first place!!

It makes no difference to me whether you commit to your cause or not, but it will make the world of difference to you

W
I need to finish something i started
  • #25
  • Jun 16, 2012 6:05am Jun 16, 2012 6:05am
Quoting jeanlouie
The risk per trade aside, he does have a point that is always ridiculed as a pipe dream. Meager and consistent profits in trading with compounding can lead to great results that sound absurd.

But in the end it can depend on something like 5pips a day like the op mentions, or 20p a week like ICT mentions over at babypips, are those figures truly near impossible to get on a fairly consistent basis?

Of course these are possible. Implement a plan, RINSE AND REPEAT often.

lol
I need to finish something i started
  • #26
  • Jun 16, 2012 6:22am Jun 16, 2012 6:22am
Quoting jeanlouie
The risk per trade aside, he does have a point that is always ridiculed as a pipe dream. Meager and consistent profits in trading with compounding can lead to great results that sound absurd.

But in the end it can depend on something like 5pips a day like the op mentions, or 20p a week like ICT mentions over at babypips, are those figures truly near impossible to get on a fairly consistent basis?
Hi Jean,
I so much agree with you and the OP and as an addendum:

It's true that most traders have been stunned by the markets that they don't simply see the potential opportunity in it.

The OP already mentioned that "once you have some skill"...and I agree with him on that. If a trader cannot make 5pips off the market in a day, then that person is better off selling potatoes. Some things I've observed:

1. 95% of the forum are loosers.
2. This same population has the highest number of vouches.
3. These are the ones who carry the highest number of posts.
4. 90% of their cummulative post has nothing to offer.
5. They move from one strategy to the other.
6. The real traders don't post much. When they post an analysis, they follow it through with trades.
7. They don't run from one strategy to the other, they always have a plan, and they don't trade all instruments. :nerd:

There's nothing bad in asking for help on what u don't know. One thing I know for sure, is the fact that you can make 5pips off the market on a daily basis. If you can't, then trading is way out of your league. If still in doubt, track "gatorinla", "infinitus", and/or "cloggie". When I see true traders, I know them because you can feel it in their posts.

All the best to everyone,
Motion
Don't just beat the markets, leave bruises.
  • #27
  • Jun 16, 2012 6:23am Jun 16, 2012 6:23am
Quoting Mingary
Huge, huge misconception and mis-information concerning all the "legends" of the trading world.
the biggest: Jesse Livermore, totally inconsistent, extremely lucky then suicide
Your favorite guru, any of them (Larry Williams is typical)
Some initial success (due to luck) + huge amount of salesmanship. Better marketers and sellers than traders. Get OPM asap while your star is shining. Once you have Millions$$$ under management, you can quit pretending and get easy avg return of 6 % / per year.
Livermore was the real deal ....his losses were due to his own personal demons.....Dennis was the most successful trader ever....now Larry, who is Larry?
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #28
  • Jun 16, 2012 10:54am Jun 16, 2012 10:54am
Quoting pemully
Livermore was the real deal ....his losses were due to his own personal demons.....Dennis was the most successful trader ever....now Larry, who is Larry?
This Livermore devotion always make me laugh. If the best of the best can't succeed at this game what about us mere mortals?
All the great "traders" are better salesmen than traders. They don't get billions under management because they can trade (Yes, granted they have some success) but because they can sell their products (i.e. build on their short term success) to investors.
  • #29
  • Jun 16, 2012 11:18am Jun 16, 2012 11:18am
Quoting Mingary
This Livermore devotion always make me laugh. If the best of the best can't succeed at this game what about us mere mortals?
All the great "traders" are better salesmen than traders. They don't get billions under management because they can trade (Yes, granted they have some success) but because they can sell their products (i.e. build on their short term success) to investors.
The best of the best succeed. They really do and they need not tell you about it.

They just leave clues in their write-ups...if they're nice enough/derive pleasure in writing. It is left to you to find your grail. Knowledge can be transfered, but not experience.
Don't just beat the markets, leave bruises.
  • #30
  • Jun 16, 2012 11:20am Jun 16, 2012 11:20am
for every big trader blowups,there are thousands of successes...none of the market wizards blew up....
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #31
  • Jun 16, 2012 11:21am Jun 16, 2012 11:21am
Instead of risking too much per trade, why not go for 20% a month average with lower risk? That compounded for 45 months will get you the $1M.
  • #32
  • Jun 16, 2012 11:50am Jun 16, 2012 11:50am
Quoting Motion
The best of the best succeed. They really do and they need not tell you about it.

They just leave clues in their write-ups...if they're nice enough/derive pleasure in writing. It is left to you to find your grail. Knowledge can be transfered, but not experience.
Unfortunately, this is a lie (second statement is true)that is perpetraded by the trading world to get new bodies in the shop so that they will be fleeced. There is no long term success in trading as is. If you have some success you must leave the trading to the losers and build your wealth via OPM. You must trade a little now so you won't have to later. This is the true business model.
  • #33
  • Jun 16, 2012 1:10pm Jun 16, 2012 1:10pm
Really cool and completely unrealistic for most
  • #34
  • Jun 16, 2012 1:41pm Jun 16, 2012 1:41pm
look guys thats almost 4 years, take it from me it can be done.

But slow and steady wins the race. You could probably obliterate the target !!

But you must TRADE, not think you trade.

Are you a trader, do you follow your rules, do you have a game plan, are you mechanical in your trades.

Similar amount that i started with, it takes a while to grow your trade amount but once it starts to grow, growth takes over at a faster rate.

Let put it this way, i am a sniper most of my stops are 20 pips away from entry. Where most of my take profit are hundreds of pips away.

When i place a trade all my stops, tp are all set. before i hit the button


W
I need to finish something i started
  • #35
  • Jun 16, 2012 1:43pm Jun 16, 2012 1:43pm
Quoting Motion
The best of the best succeed. They really do and they need not tell you about it.

They just leave clues in their write-ups...if they're nice enough/derive pleasure in writing. It is left to you to find your grail. Knowledge can be transfered, but not experience.

"you grail is within you" Period!
I need to finish something i started
  • #36
  • Jun 16, 2012 3:12pm Jun 16, 2012 3:12pm
Actually, I don't really understand why you "experienced" trades say it is not possible to do this?

I had 300% return in May alone, probably a bit of luck but I didn't have much risk. That said, this month I've lost most of it. But anyway, I've only been trading for a little over a year, so I'm probably going to make more mistakes and lose more before I finally make a decent profit, and I've been dedicated full time to this, most days 12 hours a day for over a year, and only now am I starting to break even.

5 pips a day, 2000 pips a day, doesn't really matter if you don't manage the money right. But even with the "magic" indicators I used in the beginning of my trading, 5 pips a day was never a problem.

I think it is possible, although I'd aim for less risk and more pips. However if you take no salary for 5 years, and only have $1M left at the end of it, I'd rather buy a house with a mortgage.

It's funny to see all unsuccessful traders moan about how impossible everything is, just like the loser at the jobcentres moaning about how impossible it is to get a job. HAHA!
  • #37
  • Jun 16, 2012 3:45pm Jun 16, 2012 3:45pm
dealers keep dealin' .. thieves keep thievin' .. losers keep losin' ... that's the way it's stayin' baby

Song: Primal Scream - Rocks

Quoting espen
It's funny to see all unsuccessful traders moan about how impossible everything is, just like the loser at the jobcentres moaning about how impossible it is to get a job. HAHA!
forget about tomorrow, just steal away into the night
  • #38
  • Jun 16, 2012 4:07pm Jun 16, 2012 4:07pm
Quoting Mingary
Unfortunately, this is a lie (second statement is true)that is perpetraded by the trading world to get new bodies in the shop so that they will be fleeced. There is no long term success in trading as is. If you have some success you must leave the trading to the losers and build your wealth via OPM. You must trade a little now so you won't have to later. This is the true business model.
My dear, it depends on your perception of life. Trading is a career. As long as there is long term success in medicine, engineering, banking, law, arts and a host of others, there is long term success in trading. Just because you've not experienced it or come accross one doesn't mean you should assume that all swans are white. Trading is not about indicators or waves, maths or theories, it's about common sense. Get out of the box and see the potential, if u limit urself by your thoughts, I doubt if you will have even a short term success in trading.
Don't just beat the markets, leave bruises.
  • #39
  • Jun 16, 2012 4:09pm Jun 16, 2012 4:09pm
Quoting espen
Actually, I don't really understand why you "experienced" trades say it is not possible to do this?
With 5% risk per trade it's impossible. Math will get you in the end. But with smaller risk it's possible in theory. In practice... you might be fine trading a $300 or $3000 account and losing 1%-2% per trade. How about 2% of your $500k account? That's when most people won't handle such dollar risk and will risk far less than 1-2% per trade. So your return will be also smaller. And you might be cutting your risk way before you reach 500k.

Plus, there is a thing called drawdown, there are bad days, bad weeks and even months. It affects traders, unless you are a robot. Loose 15-20% of your (big) account and you will have doubts, you might start trade differently. All your demons will come out. And over 45 or whatever months you will have bad days, weeks and months.


Quoting espen
I had 300% return in May alone, probably a bit of luck but I didn't have much risk. That said, this month I've lost most of it.
May I ask how it's possible to give back a close to a 300% of profit in like 2 weeks? Really curious.
  • #40
  • Jun 16, 2012 4:20pm Jun 16, 2012 4:20pm
Quoting Supernaut
May I ask how it's possible to give back a close to a 300% of profit in like 2 weeks? Really curious.
How it's possible? Are you saying you've never blown an account. Really curious
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