Experiment: $100.00 to $1,000,000.00 USD in 155 "Steps"
Hello, and welcome to my thread. This board will host an experiment I will be conducting that many of you may have a good laugh at. I am going to attempt to bring an FX Solutions account balance from a mere $100.00 ($119.25 approx.) to $1,000,000.00 within a 155 step system. Steps can be considered open market days, however some steps may span out 1-3 days. Therefore, if the average step is 1.5 days, this experiment will be completed in under one year's time. I will update this thread accordingly. Posts will consist of steps completed, or losses taken.
How will this be accomplished?
As the account's owner, I will attempt to profit 24 pips/day of the EUR/USD pair. As the balance increases, so will the percentage of my invested lot values. I won't say a lot about what kind of system I am using, or what kind of security measures I'm taking to avoid loss. 90% of this will involve good judgement and I'll manage my efforts one day at a time. I will monitor my charts heavily and read MNI EURO-DOLLAR & EURO TECH reports. If I succeed in completing one step, I advance onto the next. If I take a loss, I reduce to a previous step based on the amount of the loss.
FAQs:
Lot size: 1 = 1,000
Leverage: 400/1 (to keep the usable margin high)
Pips/day attempted: 24
Pip value range (PVR): 400 (a number I've come up with to determine the percentage of the balance that will be used in lot sizes)
Lot size percentage: 6.8 - 8.03% of balance depending on rounded value.
Balance increase per step: About 6%
If you don't feel like doing the math, here are some examples of where the account balance should be at various steps and their traded value per pip:
10: $212.85 ($0.50/pip)
25: $512.85 ($1.20/pip)
50: $2,200.05 ($5.20/pip)
75: $9,450.45 ($22.30/pip)
100: $40,542.45 ($95.60/pip)
125: $174,004.05 ($410.40/pip)
155: $999,383.25 ($2,357.00/pip)
Other FAQs:
400/1 leverage, are you nuts?: Most people will argue that this is a bad approach, and I would agree. However, for this experiment I need to keep the usable margin as high as possible.
How many total pips will you have to get throughout the 155 steps?: 155 * 24 = 3720 pips. I expect that this number could be a lot higher due to lost profit and catch-up.
Do you really think this will work?: As long as the math is supportive, it certainly is possible.
When do you think you'll complete the 155 steps?: I would guess Feb of 2007.
What will you do if you complete the 155 steps?: Continue the experiment onto step 195 (+$10,000,000)
What do I have to lose?: only $100.00!
Without further delay, lets begin!
- Bob
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STEP 1: COMPLETED (5/25/06):
3,000 B 1.2785 - S 1.2788 = 3 pips
3,000 B 1.2767 - S 1.2788 = 21 pips
Comments: Low activity today. It was hard to make a judgement about the direction. I decided to buy according to last week's support levels being today's current price.
Profit: $7.20 (0.30/pip)
Previous account balance: $119.25
New account balance: $126.45
Hello, and welcome to my thread. This board will host an experiment I will be conducting that many of you may have a good laugh at. I am going to attempt to bring an FX Solutions account balance from a mere $100.00 ($119.25 approx.) to $1,000,000.00 within a 155 step system. Steps can be considered open market days, however some steps may span out 1-3 days. Therefore, if the average step is 1.5 days, this experiment will be completed in under one year's time. I will update this thread accordingly. Posts will consist of steps completed, or losses taken.
How will this be accomplished?
As the account's owner, I will attempt to profit 24 pips/day of the EUR/USD pair. As the balance increases, so will the percentage of my invested lot values. I won't say a lot about what kind of system I am using, or what kind of security measures I'm taking to avoid loss. 90% of this will involve good judgement and I'll manage my efforts one day at a time. I will monitor my charts heavily and read MNI EURO-DOLLAR & EURO TECH reports. If I succeed in completing one step, I advance onto the next. If I take a loss, I reduce to a previous step based on the amount of the loss.
FAQs:
Lot size: 1 = 1,000
Leverage: 400/1 (to keep the usable margin high)
Pips/day attempted: 24
Pip value range (PVR): 400 (a number I've come up with to determine the percentage of the balance that will be used in lot sizes)
Lot size percentage: 6.8 - 8.03% of balance depending on rounded value.
Balance increase per step: About 6%
If you don't feel like doing the math, here are some examples of where the account balance should be at various steps and their traded value per pip:
10: $212.85 ($0.50/pip)
25: $512.85 ($1.20/pip)
50: $2,200.05 ($5.20/pip)
75: $9,450.45 ($22.30/pip)
100: $40,542.45 ($95.60/pip)
125: $174,004.05 ($410.40/pip)
155: $999,383.25 ($2,357.00/pip)
Other FAQs:
400/1 leverage, are you nuts?: Most people will argue that this is a bad approach, and I would agree. However, for this experiment I need to keep the usable margin as high as possible.
How many total pips will you have to get throughout the 155 steps?: 155 * 24 = 3720 pips. I expect that this number could be a lot higher due to lost profit and catch-up.
Do you really think this will work?: As long as the math is supportive, it certainly is possible.
When do you think you'll complete the 155 steps?: I would guess Feb of 2007.
What will you do if you complete the 155 steps?: Continue the experiment onto step 195 (+$10,000,000)
What do I have to lose?: only $100.00!
Without further delay, lets begin!
- Bob
--------------------------------------------------------------------
STEP 1: COMPLETED (5/25/06):
3,000 B 1.2785 - S 1.2788 = 3 pips
3,000 B 1.2767 - S 1.2788 = 21 pips
Comments: Low activity today. It was hard to make a judgement about the direction. I decided to buy according to last week's support levels being today's current price.
Profit: $7.20 (0.30/pip)
Previous account balance: $119.25
New account balance: $126.45
At the very least, this thread can be viewed for entertainment purposes.
But when renasdad and accuma etc don't have that, I must be in error..
