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Gutenberg money printing machine.. 100 to 1.000 to 10.000 to 100.000? 15 replies

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Experiment: $100 to $1,000,000 USD in 155 Steps

Quoting FCX Investments
When I first started demoing forex, it was with FXCM, then I switched over to FXSOL's demo for reasons I cannot remember. It took me a couple days to get used to the differences in the way FXSOL's GTS platform looks/feels. I liked the hedge option, the trailing stops, the call level alerts (which I have text my cell phone when prices are reached), and the charts are ok.. although a bit buried.

I use two internet connections from two different providers (Verizon & Bright House) and I haven't noticed any significant lagging with quotes. When I've observed, it's always been pretty consistent with other charts I have open from other providers at the same time.
I down loaded fxsol platform. It is a complex platform. I think thats the other reason I didn't like them. But I am glad to hear its working out.

Dave
STEP 4: COMPLETED (5/29/06):
4,000 B 1.2748 - S 1.2753 5 pips
4,000 B 1.2794 - S 1.2796 2 pips
4,000 B 1.2796 - S 1.2805 9 pips
4,000 B 1.2804 - S 1.2812 8 pips
Comments: The bullish trend made it easy to cash out on this one between 10-11:15pm EST.

Profit: $9.60 (0.40/pip)
Previous account balance: $140.85
New account balance: $150.45
Quoting FCX Investments
I disagree. The only difference with my 400:1 leverage is it using less margin to place an order. Since I am not placing tons of orders as a result of my newly found margin increase, I do not risk choking my account to death. I see it as only a security factor. Regardless of my leverage, I would trade the same lots for this experiment. Pip values are the same, margin is less used, what's so bad about it?
When I say "use" 400:1 leverage, I mean actually leveraging yourself heavily on trades.
Sitting on one of my first really bad trades. Hasn't triggered my stops, as I've made my stop limit pretty high (would have to reach 1.3060ish). I entered the trade to go short and it did not obviously. I believe we are seeing triangles still so I don't have a problem waiting it out. I already feel like I know what I've done wrong to get into this situation in the first place and I already have measures in my head to make sure it doesn't happen again. Now that my home office redecoration is coming along I'll be able to sit and stay more focused, waiting for more crucial opportunities. We'll see!
If you're short EUR/USD then I think you will come out ahead or relatively unscathed.

Everyone is rooting for you.

Cheers!
Quoting itme
If you're short EUR/USD then I think you will come out ahead or relatively unscathed.

Everyone is rooting for you.

Cheers!
Thanks itme, it hit my mark and I'm out of the bad trade. Looking to complete step 5 tonight/tomorrow morning!
I'm going to roll the dice a little bit and attempt to knock out step 5 and 6 at the same time (48 pips @ .40/pip) while I'm away from the computer tonight


Going Long @ 1.2776

Looking to hit 1.2824

S/L 1.2526 (just in the beginning stages will I use stops this long, and because we're still in the triangle formation) Setting call alerts @ 1.2676 in case something drastic happens...
Quoting FCX Investments
I'm going to roll the dice a little bit and attempt to knock out step 5 and 6 at the same time (48 pips @ .40/pip) while I'm away from the computer tonight


Going Long @ 1.2776

Looking to hit 1.2824

S/L 1.2526 (just in the beginning stages will I use stops this long, and because we're still in the triangle formation) Setting call alerts @ 1.2676 in case something drastic happens...
Since I ended up being awake, I watched it crawl up to 25 pips in the positive... then decline down to about 5.. then as it rose up to about 18 again, I closed the order at 15 pips gained. (1.2791)

9 more pips to go for step 5... I'll probably let it dwiddle down again then catch another long hopefully
Entered a long @ 1.2786

Target 1.2795

= the 9 pips im looking for to complete step 5
Good luck!

(Following the trade on screen. Not in it, but hoping it does make the 95. crossing fingers)

Just out of curiosity, where is the S/L?

L.A.
Quoting LapisAnguli
Good luck!

(Following the trade on screen. Not in it, but hoping it does make the 95. crossing fingers)

Just out of curiosity, where is the S/L?

L.A.
Well, I just feel that it'll reach that level again because I think it's still on the upward trend. It has hit 95 twice, so I'm betting it will again even before going on a rally.

S/L is an insanely low 1.2536. Call alerts @ 1.2686. I won't continue with this type of trading... but for now, in this triangle, I honestly don't see a 2536 coming before a 2795.... what would be the odds?
Quote
S/L is an insanely low 1.2536
:surprised Wow!

I think I must have misunderstood what you were doing with the leverage and all. I'd better re-read this thread I think


L.A.
Quoting LapisAnguli
:surprised Wow!

I think I must have misunderstood what you were doing with the leverage and all. I'd better re-read this thread I think


L.A.
haha. To be honest L.A, I want to pump out the early steps as fast as possible. My RISK level with stops is severly high right now and I'll tell you why.... if I lose out big time, I can simply refund the account and be at the same level the next day Once I reach the thousands.... well then it's another story. No matter though, I plan on intraday ONLY trading once my office is fully completed. We've been running around everyday and decorating and what not.

As far as Euro rallying down to the 2550 levels before it skims 2795 again, I believe it's a very fat chance. Not impossible though! But I'll play my cards as, like I said before, I believe we're still in the triangle. No reason for me believe that we've rallied out of it.

But for followers of this thread, I promise more security once the account gets to higher valued steps. Wouldn't want to waste anyone's time!
Hey bud, I have a downside target of 2736ish for this and we're almost there. Maybe this will help?
FCXI, you inspire me man!! I like this thread and the challenge. Good Luck!



I think I'm going to try something similar. I like the little profits idea, it satisfies my need to trade. Normally I wait for the big moves and try to take 100 – 200 pips profit. But by the end of the week, if I haven’t traded yet, then I look for trades which normally aren’t there.



Just a question thou. How are you planning to pay yourself? You obviously increasing your lot sizes as the account grow, but will you leave all the winnings in the account until it reaches your goal. Or will you pay yourself a percentage of the winnings after each milestone? I’m just curious, cause I need a salary every month to survive.



Again, good luck with the challenge.
Quoting rsmit
FCXI, you inspire me man!! I like this thread and the challenge. Good Luck!



I think I'm going to try something similar. I like the little profits idea, it satisfies my need to trade. Normally I wait for the big moves and try to take 100 – 200 pips profit. But by the end of the week, if I haven’t traded yet, then I look for trades which normally aren’t there.



Just a question thou. How are you planning to pay yourself? You obviously increasing your lot sizes as the account grow, but will you leave all the winnings in the account until it reaches your goal. Or will you pay yourself a percentage of the winnings after each milestone? I’m just curious, cause I need a salary every month to survive.



Again, good luck with the challenge.
While I obviously cannot answer for FXCI, I think that this is simply an experiment to see if he can grow this small account to 1Million in the steps he has outlined for himself.

I don't think it is meant as an immediate source of income. Although, it will be a nice payday if he can reach his goal!

Good luck with your challenge, I am watching with anticipation!

Katie
Quoting Navynfo1
Hey bud, I have a downside target of 2736ish for this and we're almost there. Maybe this will help?
Hey Navy,

Was just alerted of my 2795 hitting. 9 pips sold.. step 5 completed! Looks like yours hit too

STEP 5: COMPLETED (6/01/06):
4,000 B 1.2776 - S 1.2791 - 15 pips
4,000 B 1.2786 - S 1.2795 - 9 pips
Comments: Going to start rolling the dice less..

Profit: $9.60 (0.40/pip)
Previous account balance: $150.45
New account balance: $160.13 (gained .08 in premiums as well)
Quoting rsmit
FCXI, you inspire me man!! I like this thread and the challenge. Good Luck!



I think I'm going to try something similar. I like the little profits idea, it satisfies my need to trade. Normally I wait for the big moves and try to take 100 – 200 pips profit. But by the end of the week, if I haven’t traded yet, then I look for trades which normally aren’t there.



Just a question thou. How are you planning to pay yourself? You obviously increasing your lot sizes as the account grow, but will you leave all the winnings in the account until it reaches your goal. Or will you pay yourself a percentage of the winnings after each milestone? I’m just curious, cause I need a salary every month to survive.



Again, good luck with the challenge.
rsmit,

Hey! I'm going to try to see this out til 1 million. I have another forex account and other sources of income. Not to mention, if this starts working I'll probably start trying to duplicate it...
Quoting Golden Girl
While I obviously cannot answer for FXCI, I think that this is simply an experiment to see if he can grow this small account to 1Million in the steps he has outlined for himself.

I don't think it is meant as an immediate source of income. Although, it will be a nice payday if he can reach his goal!

Good luck with your challenge, I am watching with anticipation!

Katie
Hi Katie,

Thanks! Yes, it will be a nice payday.. I'll have to throw a big celebration if I manage to succeed. Maybe try to get FXSOL to write me one of those cool big checks like I won the money or something?
Quoting FCX Investments
Hi Katie,

Thanks! Yes, it will be a nice payday.. I'll have to throw a big celebration if I manage to succeed. Maybe try to get FXSOL to write me one of those cool big checks like I won the money or something?
Honestly, I think I don't think I could leave more than $300,000 with any forex broker. Not until there is some insurance there...know what I mean?

How much would it suck to have a $999,999 and the moment you make that last buck, they pack up and close shop??

Eesh...the thought is absolutely horrifying...all that work and they go Refco.

I definitely admire the dream, but if I were trying to pull in a mil from forex, I'd be consistently taking out funds after I reached critical mass (maximum trade size of $10,000,000)...at that point, if I only had $100,000 at FXSol but $899,999 in a savings account (or multiple saving accounts), I wouldn't feel as horrified because my "lock in" would be considerably more than my risk (which is what I actually consider the money in my account).

Good luck on that though.
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