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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

  • #181
  • Jul 9, 2012 11:53pm Jul 9, 2012 11:53pm
Quoting Motion
Nope. I mean speculator and speculator. That was why I asked you to do the maths. I'm Motion. I don't mince words. :
Actually you are mincing words, please kindly explain this math thingy.
Good luck with the 5 pips out 100 - long term that is
Potato farmers make more money than traders in the long term.
  • #182
  • Jul 10, 2012 3:49am Jul 10, 2012 3:49am
Quoting Mingary
Actually you are mincing words, please kindly explain this math thingy.
Good luck with the 5 pips out 100 - long term that is
Potato farmers make more money than traders in the long term.
Exactly what I'm saying. I posted a phrase, which could have ignited semantics. A reader could either believe I made a mistake, or believe I wrote what I meant.

Then you asked me if it was what I meant, and I practically came out and told you I meant what I posted.

And then you came back again to tell the POST OWNER that he's still wrong. You're trying to bend the value of my post to favor your logic. It's the same thing that happens on the charts.

1. Price breaks lower (my phrase)
2. You ask it if it was supposed to break lower or go up. (You asked what I really meant)
3. It does it again. (Confirming to you how bearish it is.) (I answered you)
4. You tell price that it is wrong and you go long. (You tell me I'm still mincing words)
5. You get stopped for a loss and believe potatoe farmers make more money than traders on the long term.

Give me the name of a Farmer on the top 20 Forbes list. Without asking for traders, I give you George and Warren. Not to mention some others...

In summary, there's a very big difference between a speculator and a speculator. One dictates to the charts, the other listens to it. Give two speculators the same EURUSD chart with ordinary moving averages as their tool, one will make money, the other will loose money.

That is the maths. If you still don't get it, then I accept your opinion. You win!

All the best man.
Motion
Don't just beat the markets, leave bruises.
  • #183
  • Jul 10, 2012 6:57am Jul 10, 2012 6:57am
Quoting Motion
Exactly what I'm saying. I posted a phrase, which could have ignited semantics. A reader could either believe I made a mistake, or believe I wrote what I meant.

Then you asked me if it was what I meant, and I practically came out and told you I meant what I posted.

And then you came back again to tell the POST OWNER that he's still wrong. You're trying to bend the value of my post to favor your logic. It's the same thing that happens on the charts.

1. Price breaks lower (my phrase)
2. You ask it if it was supposed to break lower or go up....
ok. I think you must be mistaking me for someone else, but fine I will take this up for entertainment.
Speaking of semantics it's not "loose money" but "lose money".
English may not be your native language, so congratulations, overall very good. Australians make that mistake all the time . Are you Australian?
The point of your funny reply is not whether the price will wiggle here and there, any fool can have a winning or a losing trade at any given time.
The point is that, long term, there are more successful potato farmers than there are successful traders.
In the long run, it does not matter if there is a difference bewteen a speculator and a speculator as you put it. The success rate for both speculators is extremely low.
  • #184
  • Jul 10, 2012 9:24am Jul 10, 2012 9:24am
Quoting Mingary
ok. I think you must be mistaking me for someone else, but fine I will take this up for entertainment.
Speaking of semantics it's not "loose money" but "lose money".
English may not be your native language, so congratulations, overall very good. Australians make that mistake all the time . Are you Australian?
The point of your funny reply is not whether the price will wiggle here and there, any fool can have a winning or a losing trade at any given time.
The point is that, long term, there are more successful potato farmers...
Mingary,

1. No hard feelings.

2. Concerning semantics and the implementation of 'lose' and 'loose', try looking up "American English" and "British English".

3. I'm not Australian. You don't have to guess my country or state. That's what profiles are meant for.

4. Thank God you specified "fool". At least, a fool won't be considered "skilled".

5. Talking of the point, it's good you've finally solved the puzzle yourself. There are more successful farmers than successful traders. Nobody is disputing that. Your earlier post implied "Potatoe farmers make more money than traders in the long term...". If you had written it as "Potatoe farmers make more money that non-skilled traders in the long term", I would have agreed.

But from what you've just explained, you're mentioning another topic entirely. "Success rate". I never meant to get on your nerves, I just don't want to see talents wasted on potatoe farming. When you put a successful farmer head to head with a successful trader, compare their networth and assets, you will realize that a potatoe farmer's 10years profits, is a "successful" trader's monthly take home. Take it or leave it.

If speculation was/is that bad, then Forex Factory might not be your calling. Farmer's Factory might be a better option. (just kidding)

In the end, it's all about having fun man. I don't call names, but if I have offended you in anyway, apologies man. We are all one.

Happy trading and green pips to you mate!

Kindest regards,
Motion
Don't just beat the markets, leave bruises.
  • #185
  • Jul 10, 2012 10:37am Jul 10, 2012 10:37am
Quoting Motion
Mingary,

1. No hard feelings.

2. Concerning semantics and the implementation of 'lose' and 'loose', try looking up "American English" and "British English".


Kindest regards,
Motion
Hi,
Not aproblem at all. But I think it's important to get this right:
The verb "to lose" has the same meaning in British English and American English and it has the same spelling
The verb "to loose", of course does not exist, it is "to loosen" and therefore "loose" has the same meaning in British English and American English and it has the same spelling.
But they have two different meanings and uses! Therefore to say "to loose money" is incorrect in British English and American English.
  • #186
  • Jul 10, 2012 10:39am Jul 10, 2012 10:39am
Forex factory have a tool for disproving nonsense threads like this. It's called Trade Explorer. Try it! As the thread starter said, you don't have to make 5 pips every day. Just 25 per week will be enough. Let's see it on a Trade Explorer.
Gone to a better place
  • #187
  • Jul 10, 2012 10:41am Jul 10, 2012 10:41am
Trade Explorer for the win. If someone could do it publicly, then I'll believe it
  • #188
  • Edited 4:34am Jul 21, 2012 4:21am | Edited 4:34am
If you can make 3% a week average, risking 1% per trade you can also make 15% average a week risking 5% per trade.

On a $300 account risking 5% per trade is not such a big deal....On a much bigger account that may bring in some psychological impact which are very much personal (a $10000 account could be huge for some and peanuts of others).
"Men who can both be right and sit tight are uncommon."
  • #189
  • Jul 21, 2012 4:36am Jul 21, 2012 4:36am
Quoting Mike8
If you can make 3% a week average, risking 1% per trade you can also make 15% average a week risking 5% per trade.

On a $300 account risking 5% per trade is not such a big deal....On a much bigger account that may bring in some psychological impact which are very much personal (a $10000 account could be huge for some and peanuts of others).
People always think about the snowball effect and the compound from excel spreadsheet. They always argue if one can make 5% per month, then after 10 years etc... it's never black and white straight like that.. and when the account grow, imagine the loss would be too much painful to take psychologically (even the percentage % staying the same), therefore one would reduce the risk significantly to remain a good life.

Remember, be water. Be flexible. Never think of something too rigid.
  • #190
  • Jul 21, 2012 7:34am Jul 21, 2012 7:34am
Quoting duyk20
People always think about the snowball effect and the compound from excel spreadsheet. They always argue if one can make 5% per month, then after 10 years etc... it's never black and white straight like that.. and when the account grow, imagine the loss would be too much painful to take psychologically (even the percentage % staying the same), therefore one would reduce the risk significantly to remain a good life.

Remember, be water. Be flexible. Never think of something too rigid.
LOL.

The "Rigidity kills' is too rigid in per se and shows a huge contradiction in my view, Sorry.

I have not turned $300 into $1000000 yet, but I do not mind to have a go....., but even much less will do.....

I think it can be done if one has a system with 70% winning trades and a positive expectancy.

The state of mind can be of a problem I think, but can also be dealt with, if one is prepared to work hard on it... Hey but what do I know?
"Men who can both be right and sit tight are uncommon."
  • #191
  • Jul 21, 2012 8:22am Jul 21, 2012 8:22am
Have you started yet?
Can we follow you on MyFxBook?
Tipster Trendlines - Trade from the chart
  • #192
  • Jul 21, 2012 9:30am Jul 21, 2012 9:30am
If you had $1 million right now in your trading account, would you still feel the need to multiply it more than 3,000 times in 45 months?

In 45 months you will need to adapt your strategy a lot, because the market is always changing. And you can't predict when it will happen, you will find it by analyzing your trades, which implies some unpredicted loss. More than that, it may take days, weeks, before you adjust your system to the new conditions.

It's great to have a good system, but at the end of the day it's the market that says who wins and who loses. Instead of having some goal in pips, have a goal to understand the market better, optimize your system, and the pips will come.

You can't control how many pips you will have at the end of the week, but you can control your growth as a trader.

Good luck!
  • #193
  • Jul 21, 2012 12:14pm Jul 21, 2012 12:14pm
Quoting Quickdraw
Did you know that you can take $300 and make $1 million in your trading in only 45 months by doing something that is actually "doable"?
First time reading your post. I am on a $100 account and it is at $235 in one month. Been trading for 3 years, finally incorperating what I have learned from the market and how to extract maximum from it. Using this to take that $100 (refunded account) to be my successful account. This will show others that it can be done. Its not hard. Just time and patience. But 1 month that is 125% I have grown this account.

The problem is people start off too big and watch their account dwindle. They need to understand to start small and grow the account gradually. Wish people could understand this is the real way to be successful.

Now what might be small account to me may not be small account to someone with loads of money (another fact that people can not seem to comprehend for some reason, or they just never thought of what a small account really is).

I traded 2K accounts and over-leveraged myself and blew a good portion of it. Only when I finally started smaller was I allowed to see the market for what it really is. This was of course after a long winded break from trading and a reality check.

Now I know why it is a business
Know when to hold em, Know when to fold em!
  • #194
  • Jul 22, 2012 6:25am Jul 22, 2012 6:25am
Quoting goods
First time reading your post. I am on a $100 account and it is at $235 in one month. Been trading for 3 years, finally incorperating what I have learned from the market and how to extract maximum from it. Using this to take that $100 (refunded account) to be my successful account. This will show others that it can be done. Its not hard. Just time and patience. But 1 month that is 125% I have grown this account.

The problem is people start off too big and watch their account dwindle. They need to understand to start small and grow the...
god, when do people realize that one month performance means absolutely nothing. I am 99% sure that within a year that teeny-tiny-peanut account of yours will be blown like your other peanut accounts (except you finally found a system that provides a positive expectancy).
  • #195
  • Jul 22, 2012 8:11am Jul 22, 2012 8:11am
Quoting Custos
god, when do people realize that one month performance means absolutely nothing. I am 99% sure that within a year that teeny-tiny-peanut account of yours will be blown like your other peanut accounts (except you finally found a system that provides a positive expectancy).
Your statement is foolish an way of basis and you obviously can't succeed. Don't get so negative toward others for your own mistakes. Learn to trade properly and get rid of your stereotypical thinking. In life you get upset because someone has figured something out that you can not yet figure out how to do so you cast words of failure into your own thinking. You keep your train of thought and I'll keep doing what I am doing. So you can carry on elsewhere with your tiny puney way of thinking tha will always prevent you from success. Bye now
Know when to hold em, Know when to fold em!
  • #196
  • Jul 22, 2012 8:40am Jul 22, 2012 8:40am
Quoting goods
Your statement is foolish an way of basis and you obviously can't succeed. Don't get so negative toward others for your own mistakes. Learn to trade properly and get rid of your stereotypical thinking. In life you get upset because someone has figured something out that you can not yet figure out how to do so you cast words of failure into your own thinking. You keep your train of thought and I'll keep doing what I am doing. So you can carry on elsewhere with your tiny puney way of thinking tha will always prevent you from success. Bye now
you assume a lot. Where is my statement foolish. You should get some realism in your thinking. One month performance means absolutely nothing. Almost any system here on forex factory can make the same kind of performance in one month. However, there are only a handful that can make profits over the long-term (at least from the ones I tested).
And dude, I am not upset, I just slap you in the face to wake you up to reality... one month of performance is absolute bull crap (even a year of performance). But as I said, if you have found a positive expectancy system that will endure during all kinds of market conditions and changing fiscal and monetary policies, then congrats. However, I think you are more likely to just have had a lucky month.
And I am up 100% this year
  • #197
  • Jul 22, 2012 1:38pm Jul 22, 2012 1:38pm
Quoting Custos
you assume a lot. Where is my statement foolish. You should get some realism in your thinking. One month performance means absolutely nothing. Almost any system here on forex factory can make the same kind of performance in one month. However, there are only a handful that can make profits over the long-term (at least from the ones I tested).
And dude, I am not upset, I just slap you in the face to wake you up to reality... one month of performance is absolute bull crap (even a year of performance). But as I said, if you have found a positive expectancy...
You are the one assuming a lot buddy. I been trading for 3 years. My trading is the same as it was before except the only difference is I use proper money management and locking in profit. So before you go ASSUMING how I trade and what my trading issues are and are not, don't go Knocking you don't know. Why dont you read my thread before assuming I am trading some BS system. I trade according to the market. My trading is not based on luck and it will never be ever again. My trading is discretionary. Again read my thread before you go talking smack about someone. Not every trader is the same. I trade according to the conditions of the market, not just random stupid late entries by some stupid ma crossover or some macd. I dont need that stuff to tell me what price is doing.
Know when to hold em, Know when to fold em!
  • #198
  • Jul 23, 2012 9:34am Jul 23, 2012 9:34am
Whoah! The rookie thread catches fire...
Gone to a better place
  • #199
  • Jul 23, 2012 9:36am Jul 23, 2012 9:36am
Quoting smikester
Forex factory have a tool for disproving nonsense threads like this. It's called Trade Explorer. Try it! As the thread starter said, you don't have to make 5 pips every day. Just 25 per week will be enough. Let's see it on a Trade Explorer.
Chest thumpers should do this!
Gone to a better place
  • #200
  • Aug 1, 2012 9:23pm Aug 1, 2012 9:23pm
Quoting Quickdraw
Did you know that you can take $300 and make $1 million in your trading in only 45 months by doing something that is actually "doable"? This can be done by averaging 20% per month.
Thanks to FF member California, I recently discovered (and watched) this video.

To any aspiring trader who's operating under the premise of target setting ("just 10 pips per day" or "X% per month"), I definitely recommend that you watch from around 1:12:40 to 1:18:30 of the video. It will give you some insight into the very different approach that professional traders take. If you like what you see, then watch the whole video. For some folk, it just might be the most valuable 90 minutes that you spend getting started on your forex journey.

There are also many other interesting looking video titles on the FX Evolve site. Some apparently teach you how to trade certain strategies. As far as I know, they are free. I haven't watched them yet, as I've only just discovered FX Evolve (hence I'm not affiliated to them in any way). But from the little bit that I have seen, there's likely to be some quality material there (probably much more worthwhile than reading opinions on forums like FF ).
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