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

  • #141
  • Jun 8, 2006 3:32am Jun 8, 2006 3:32am
Crossing my fingers for you.. (long myself on 1.2750)

There is a good trendline connecting the lowest 4H candles from 26th of may, june the 1st en that one of today (on my timeline the one of 5 am).

The 1.2745 was razorsharp stop! lol.. I had my buylimit set up for 1.2750, went 1 pip below, but not more. Remembered you had a stop there so was hoping for both of us the line would hold

What are your B/E and profit levels if I may ask?

L.A.

PS: Hoping for a complete swing back up, but IMHO there is a tough downward line on 4H that is now -on my charts- around 1.2795.. Anyway still hoping for a complete move back up.. Don't think it will hit your 1.2745 stop.. (But I am not the sort of person to be able to predict anything though. Certainly not with all the news..)
  • #142
  • Jun 8, 2006 3:48am Jun 8, 2006 3:48am
Quoting LapisAnguli
Crossing my fingers for you.. (long myself on 1.2750)

(But I am not the sort of person to be able to predict anything though. Certainly not with all the news..)
Hope it moves for you,

remember though....no one can predict anything (not just you). At least you realise it, cause I reckon anyone who really believes they can won't last long in forex....

John
  • #143
  • Jun 8, 2006 6:33am Jun 8, 2006 6:33am
I know there are platforms out there what will allow you to trade several thousand lots in a single order - for those of you that don't want to order several blocks
  • #144
  • Jun 8, 2006 7:19am Jun 8, 2006 7:19am
Quoting Navynfo1
I know there are platforms out there what will allow you to trade several thousand lots in a single order - for those of you that don't want to order several blocks
Any recommendations?

And by the way boys and gals... I'll be re-funding the account!! Stops hit!!

Take TWO!

P.S.- I suppose a round two will have to be much more attentive on my part. I shall resume by the end of this week/early next week...
  • #145
  • Jun 8, 2006 4:44pm Jun 8, 2006 4:44pm
Quoting FCX
Any recommendations?

And by the way boys and gals... I'll be re-funding the account!! Stops hit!!

Take TWO!

P.S.- I suppose a round two will have to be much more attentive on my part. I shall resume by the end of this week/early next week...

And just as I was about to enter into this post.

Well I hope you have logged all information regarding why you traded and such and such. Did you use a video screen capture s/w? If not then please do so this time round.


Perhaps you could decrease your stop loss size to 10-40 pips and aim for 20-100 pips of wonderful profit. Maybe you could half the number of lots you would place for each step. Perhaps go heavy into 'heavy news' sessions, and cut back in sessions with little news or data? I've made my highest profit sums during 'big news', its quick and simple (if your unemotional and professional).

Then again you could do it all over again and keep repeating it everytime you blow the small the account, until you get to 22nd Dec 2006. Then review it all, with all your observations recorded and written. After that hopefully we could see some sort of report. Would be lovely if you could draw up the report online, with video and written transcripts and all.

Though I'm not sure this could be done by one person, perhaps a team would be suited to this task. The major forex playing institutions do this, I know, I know, they all get paid fat sums.

Oh yes I wanted to add something from the beginning. Do you have $10million to make $1million from $100? If you don't, then a good idea for the end claimant for the mill... give it to a charity or to... Yeah, make this experiment to raise money for charity. I'm sure that will relieve some of the strains of trading. Especially the greed part!

I do believe that's a good idea, what do you think?

-me
  • #146
  • Jun 9, 2006 6:47am Jun 9, 2006 6:47am
FCX,


Recommendations:

1. EFX - Very complicated platform, but very powerful. They charge a small commission along w/ a floating spread. However, I know several big traders who use this and love it. www.directfxtrades.com

2. ACM - Based in Switzerland. I'm thinking of moving my a/c there pretty soon. One of my top trading colleagues is using them and he sings their praises. He's got a truck load of cash w/ them and hasn't had any problems - thus far. http://www.ac-markets.com/
  • #147
  • Jun 19, 2006 2:36am Jun 19, 2006 2:36am
Sorry for the delay everyone.. I still plan on continuing with this again. Some personal things came up and I'm trying to deal with them at the moment, so it may be another week or so before I have the time to give this another go.
  • #148
  • Jun 20, 2006 12:12am Jun 20, 2006 12:12am
Quoting itme
I personally find that I much prefer to short a pair, than to go long. Perhaps its because when you short a pair, then gravity seems to be assisting in the downwards movement of the pair. Of course, there is no literal physical gravity, but perhaps there is some sort of currency gravity. Or perhaps its just an illusion....
Currency gravity, eh? There is, of a sort, but it pulls in all directions. Not what you're thinking of though.
  • #149
  • Aug 23, 2006 10:14am Aug 23, 2006 10:14am
Quoting FCX
Sorry for the delay everyone.. I still plan on continuing with this again. Some personal things came up and I'm trying to deal with them at the moment, so it may be another week or so before I have the time to give this another go.
Where are we with this?
  • #150
  • Aug 24, 2006 5:04am Aug 24, 2006 5:04am
Quoting FCX
Sorry for the delay everyone.. I still plan on continuing with this again. Some personal things came up and I'm trying to deal with them at the moment, so it may be another week or so before I have the time to give this another go.

hope you will deal with them soon and nothing bad happen to you, wait for your coming back.
  • #151
  • Aug 24, 2006 5:14am Aug 24, 2006 5:14am
Quoting itme
I personally find that I much prefer to short a pair, than to go long. Perhaps its because when you short a pair, then gravity seems to be assisting in the downwards movement of the pair. Of course, there is no literal physical gravity, but perhaps there is some sort of currency gravity. Or perhaps its just an illusion....
I agree with you.I am also bear by nature.I have felt that bear market are always violent and quick whereas bull market is slow and steady generally.

kolachi
  • #152
  • Aug 24, 2006 12:26pm Aug 24, 2006 12:26pm
Quoting kolachi
I agree with you.I am also bear by nature.I have felt that bear market are always violent and quick whereas bull market is slow and steady generally.

kolachi
Kol,

That is a very interesting thing to say...so when you say bear market, do you mean currency bear or do you mean chart pair bear?

For example, in theory, GBP/USD and the USD/CHF generally run in completely opposite directions (like 90% of the times). If you're a dollar bear, you're actually a BULL on the GBP/USD and a BEAR on the USD/CHF.

Care to clarify just a little bit?
  • #153
  • Dec 4, 2007 3:55am Dec 4, 2007 3:55am
Quoting FCX
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?
I agree because if u are using a stoploss then it is same like trading 50:1
leverage but u get rich quicker with 400:1 if u are right and more free margin available...

"Main thing is money management leverage is just buying power"
  • #154
  • Sep 19, 2010 3:34pm Sep 19, 2010 3:34pm
I wonder what happened to FCX's experiment. Was he able to restart and keep the project going?
I am also starting on a project looking to take £100 to £1,000,000 in 12 months.
The beauty of such a project is that one does not have much to lose and should one achieve even a quarter of what they set out to do, that would be fantastic.
I'll keep you all posted, and green pips to y'all for the week.
  • #155
  • Last Post: Sep 19, 2010 8:44pm Sep 19, 2010 8:44pm
You know I wonder about FCX experiment as well. I think that we all have the same wants as this person. The biggest thing about trading is the emotion. If we could all get over that, this would be easy. Well as we all know, it is simple to get 20 pips, then why don't we just keep doing it. Yes we are going to have those days that go against us, but we should have a net profit for each and every week, but we don't. I am just trying to not be greedy any more.
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