SAINT's Free Account Concept- $100 to $0.1 Million - Attempt Journal

Davit you missed a 0 there and that 3x has changed now. I forgot to update the first post.

Unconventional trading is so frowned upon usually and esp. here by the so called "self" gurus. There are many types of unconventional stuff which works.
I also do the "conventional" trading with my other accounts but that doesn't mean stuff like this doesn't make money. The Risk Reward ratio between money invested in these tiny accounts & the net "realized" profits is amazingly high.
Its just that i am still not consistent enough to keep converting these accounts on regular basis. (The consistency i have set for myself)
Further some may no even give a damn about "Regular basis" if can convert 100 to 0.1 million in few weeks or month or so. Depending upon how is the lifestyle, one can just do that once , twice, thrice, etc an year and be done with other good things of life, which money can buy.

Yes, i have seen posters staring & mocking others(in the form of words) when "No SL" is mentioned. People can have different style & wide risk profile. Very small trade-size relative to account equity is enough to absorb normal fluctuations in price. except one is trading something which is illiquid, it may be fine for some.
Anyway as its said "there are more than one way to skin the cat"

you are doing an excellent job , very inspiring , but u are only trading the majors? what about gold and silver or other currency crosses , but i think things are going to be much better after summer , its very choppy right now

Update 13 done in 1st post.

Yes most of the pairs are majors. To trade pairs/instruments with which a trader is not in sync, is not worth doing.
Gold & silver are very different beasts. Good volatile instruments though. As of now i dont think small accounts of 100$ can handle their profile.
September is the next month many are waiting for.

Hi Forexsaint,

very inspirational thread I have to admit.

Am I right that you follow a "all or nothing" concept with highly overleveraged trades?
If you bust one account who cares? The next one can make it up quickly, and if not, then the third or forth one?
I read about such a concept in a thread called "from 1K to 100K" or so and found it really interesting.
Risking a few hundred for gaining a few thousand seems pretty logical to me.

But although I understand the logic behind it I have a problem with it: I hate to loose.

It is pretty clear that I have to work on my attitude otherwise I will have to wait forever to make a single 1K.

BTW I would have appreciated if you had said a little more about your trading style, but I understand if you don´t want to do it.

Anyway, a massive luck to you -

Update 14 done in 1st post.



P.S.
A Poll was added some time back ; Readers are encouraged to Vote

Already done sir -

Well
i never heard about free account concept from anywhere else. I still cant find any thread detailing the same.
As far as i am concerned and as i have detailed in a thread "Free account" Concept 3 yrs back(you can read about that if you want), its quite same as "Free Trade" concept which i have relished after reading about it some 5-6yrs back.
There is no such "All or nothing" rule followed every time. It depends upon the conviction of analysis in this world of odds, where nothing is 100%. Further there is nothing called "ALL". One should take, as much as possible, what a position is giving you i.e. letting the winners run.

"Overleveraged trades" is often a condition during early age of a WannaBe Free Account (WFA) as else account buildup would require a lot of time & huge time costs doing so slowly, would add as a loss. In any way, as i have already posted many times, overleveraging doesn't make money. It just helps making/breaking the account quicker.

Risking 100$ to make $0.1 million is one of the best R:R i can think of & is achievable (at least i think as of now; i may keep failing)

"hate to loose" attitude is problematic actually as nothing is 100%. Whenever one invests, be it any f**king investment, there is always a risk of loss. Whenever there is risk, there is an element of luck too. So except you got some direct lease line connection to god(if theist) or prolly a central bank head, etc, you will eventually lose a trade/investment sooner or later. Mistakes are human

Regarding my trading style and stuff, have been asked and posted about that, many times.
Read my posts around. For e.g. >this< . There is nothing special about it. Dont think on those lines.
&
I have also posted about reasons for not opening just another thread, with eventual hundreds of minions, some stalkers and some disgruntled following you there. I think most(not all) stuff as R:R

It seems to me that the last one did not work out.
Do you intend to do another try?

Update 15 done in 1st post.



P.S.
A Poll was added some time back ; Readers are encouraged to Vote

Yes you are indeed right. Last attempt didn't work out. Everybody can see the same having a look at explorer.
(i don't play games with explorer like most here do)

Another try? why not? This thread is an attempt journal & will go on till the target is reached.
Further why the hell, will i, just, keep the $5200+ profits generated from 100$ attempts, in this self-challenge thread.

Those profits are enough for approximately 52 more attempts ... ah i get excited when i see that many attempts of risk free money..


Its NFP FRY-DAY today, lets WnWatch

Update 16 done in 1st post.



P.S.
A Poll was added some time back ; Readers are encouraged to Vote

Huih, this one was fast!
Did I miss something?

Indeed it was fast. Most of these peanut seed accounts are fast living beings
What were u expecting? a wait for an year?

Yes you missed some stuff. As you seem to be "very" interested.....
NFP Day was overall Great. Broke 2-3 seed acc's in early AUDUSD chop. But AUDUSD longs later and GBPUSD longs from 1.5148 are minting 1500% on 2 accounts & 4-5% on conventional acc.
I don't have always time, to update, every attempt here... just like all profits are also not part of this attempt journal & Total P/L stats.
Else current explorer account, only, is already making $10000+ from basic seed of $100. That way it just needs 10 times more for target completion.


You can bookmark the thread/explorer and keep a browser mod refreshing it every 2 seconds or so. That way you won't "miss" anything

BTW how is your attitude re-modelling & trading going on? Still shorting EURUSD?
Open a explorer too, analyze and improvise. It helps. Looking forward

Hi Forexsaint,

thanks for your answer-

Three more questions if you like?

1. I have a problem of understanding the technical side:
How do you arrange to fill up all these accounts (as you seem to have a few) so fast if you loose one?
It costs me 3 days min. to send money to my account (Alpari) and another 2 days to get the confirmation from Alpari.

2. How do you manage multiple accounts when the movements are getting hectic?

3. Does this Trade Explorer we see here only looks at one account whereas you have a few?

BTW my attitude WILL improve after I have understood in full what you are doing here -

Firstly, this thread is no way about
- Getting "Wowwww" / "what a trader" / "superb" / "trade my money" & allied comments & stuff
- How i trade
- What's my strategy
- Educating the readers of some holy grail, which i don't have.
- getting loads of minions
&
- feeding on some online prestige & ego

This thread is my attempt journal doing something, which has some difficulty level, that i want to break for myself.... & myself ONLY.
Though its a different thing that i don't want to be be disrespectful by not replying to posters (that too only if i want to; i am pretty pedantic about my threads & thread rules)

Secondly, still i will answer your questions, with whatever i can divulge, but not because
- i want to improve your "hate to loose attitude" or
- teach you something or
- make sure you don't "MISS" something. That you only HAVE to work on.

1. There is no technical side to this. Many MT4 brokers allow "n" number of deposit options including Credit/Debit Cards, Paypal, Moneybookers, Nettellar, etc & even process deposits into trading accounts within 15 minutes to 1 day. Wire Transfer is not the only option.
We are talking MT4 Brokers here & not Tier-1 banks, EBS and other forex porn agents.
Further most of these brokers allow multiple account opening.
Further interpol won't issue any red notice against you, for keeping set amount of equity in different accounts already, before trading a "Trading opportunity" one is waiting for. So sitting tight and waiting for opportunities is difficult yet rewarding.
I like this one from J. Livermore "Men who can both be right and sit tight are uncommon"

2. Managing Multiple accounts is made quiet easy using automated stuff including, software, scripts, EA's & non-redundant nicely connected hardware.
But multiple accounts are not needed/traded every time. They are only needed for select "Trading opportunities" e.g. when conviction of analysis is HIGH or when volatility is high like Last NFP FRY-DAY ....... as these tiny seed acc's can't handle the same & Important Price levels are often breached/spiked some times. AUDUSD a perfect case last friday
"Make a plan & trade the plan" is a nice quote , i changed it to "Make a plan & trade the plan; Still have a BACKUP plan"
So backups accounts are needed for those "not-so-often" conditions/opportunities.

One can't always perfectly analyze & trade levels with almost perfect minimal drawdown, like 3-4 setups i posted -->in another thread<-- some time back


3. Already answered that in my last post.


Saint to Star
Over n Out

Hi Saint,

thanks for answering again-

Have a nice sundy and good luck for the week ahead!

Star to Saint

Update 17 & 18 done in 1st post.



P.S.
A Poll was added some time back ; Readers are encouraged to Vote

you are unbelieveble awsome!!!!it´s a pleasure to know you and presence your return!!!

Update 19 done in 1st post.



@Xandi
yea its bit difficult trading such accounts (esp. during early grind) but there is nothing "unbelievably awesome" about me.
Good to know you too.
What kind of "mysterious pyramiding" you do?(i see that signature). I am always ear to logical yet effective compounding techniques.