How far will I go with 11 trades, each 30 AUD? | Page 3 | Forex Factory

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How far will I go with 11 trades, each 30 AUD?

  • #41
  • Aug 9, 2013 11:29am Aug 9, 2013 11:29am
Quoting goldcrash
{quote} I want to test if I blow up my account by just taking A + trades. Now everybody says Im going to blow it.....interesting!
That's what everyone is telling you. There is no such thing as an A+ trade.

If there was such a thing as a guaranteed trade, don't you think everyone else would take it? Trading is a zero sum game - so by definition not everyone can take the trade. In order to buy, there must be someone else willing to sell. And if your buy trade is so good, why would anyone want to sell?

You might get lucky a few times, but you WILL blow your account.

Far, far better to learn price action, consistency and money management. You can either listen to experienced traders or blow your $330 learning the hard way. But if you're intent on blowing your $330 why ask the question in the first place?

I respect your enthusiasm as you start your own forex journey, but at some stage you will start to appreciate there's no quick buck to be earned in forex. I suspect only then will you start to appreciate the absolute need for a sound trading method, a cool approach and solid money management.
  • #42
  • Aug 9, 2013 11:47am Aug 9, 2013 11:47am
Quoting goldcrash
Next trade...EUR/USD stop short at 1,3323, stop loss at 1,3405 take profit at 1,3215
hey bud, were in the same trade except my target is lower , @ 1.3165! may we both proooofit!
  • #43
  • Aug 9, 2013 11:48am Aug 9, 2013 11:48am
omg people stop saying hes going to blow his account, k!?

heres a fun way to 'gamble' (win big money) in forex. Take a large risk on a good trade, to make a large profit. Then, use the profit from that trade (you made it big on the previous one!) and risk it all on another A+ trade. Continue onward! See how much money you can bag! If you lose on a trade, then you're breakeven (and you're risk was the first large risk).

Sounds fun, right!? Its better than luck
  • #44
  • Edited 12:04pm Aug 9, 2013 11:49am | Edited 12:04pm
Quoting primestop
{quote} That's what everyone is telling you. There is no such thing as an A+ trade. If there was such a thing as a guaranteed trade, don't you think everyone else would take it? Trading is a zero sum game - so by definition not everyone can take the trade. In order to buy, there must be someone else willing to sell. And if your buy trade is so good, why would anyone want to sell? You might get lucky a few times, but you WILL blow your account. Far, far better to learn price action, consistency and money management. You can either listen to experienced...
There are such things as an A+ trade, actually. Except for most people its based on experience and intuition, as much as they try to make the A+ criteria conscious ... of course its possible! the reason other people don't trade it successfully is because the trader sucks at sharing the reason why its an a+ trader, all their reasons are wroooong, or atleast not enough for other people

my opinion anyways
  • #45
  • Aug 9, 2013 12:03pm Aug 9, 2013 12:03pm
Quoting Starry
{quote} hey bud, were in the same trade except my target is lower , @ 1.3165! may we both proooofit!

nice...hope it will work out for us....all thumbs up
  • #46
  • Aug 9, 2013 12:07pm Aug 9, 2013 12:07pm
Quoting Starry
omg people stop saying hes going to blow his account, k!? heres a fun way to 'gamble' (win big money) in forex. Take a large risk on a good trade, to make a large profit. Then, use the profit from that trade (you made it big on the previous one!) and risk it all on another A+ trade. Continue onward! See how much money you can bag! If you lose on a trade, then you're breakeven (and you're risk was the first large risk). Sounds fun, right!? Its better than luck

U are my man Starry Actually that was also my thinking when I planed this funny experiment. Indeed the odds are higher than playing roulette
  • #47
  • Aug 9, 2013 4:07pm Aug 9, 2013 4:07pm
Good luck goldcrash. You seem to be taking all the criticism just perfectly. The idea behind this test as you call it, shouldn't be to see if your account will get blown or how much you will profit. This is a very good test to learn about yourself as a trader. If you've never traded before, take notice to the emotional swings(hope, fear, greed) and temptations you come across (early or late entry, moving targets and stop loss...) I think this is a great test... to learn about yourself and trading live is never the same as demo or studying charts. I think the amount and trade size are appropriate. You will probably blow your account, but its not about the money. It's only 330 dollars people!!!!
  • #48
  • Aug 9, 2013 11:24pm Aug 9, 2013 11:24pm
Quoting goldcrash
How big is the chance to get 10.000 AUD out of it?

Close to zero.
  • #49
  • Aug 10, 2013 3:25am Aug 10, 2013 3:25am
Quoting Rm17557
Good luck goldcrash. You seem to be taking all the criticism just perfectly. The idea behind this test as you call it, shouldn't be to see if your account will get blown or how much you will profit. This is a very good test to learn about yourself as a trader. If you've never traded before, take notice to the emotional swings(hope, fear, greed) and temptations you come across (early or late entry, moving targets and stop loss...) I think this is a great test... to learn about yourself and trading live is never the same as demo or studying charts....
Hello Rm17557....actually u are the first or second to push me a bit. Thank you very much!I do appreciate it. My thinking is still positive and if I blow my account I wont regret this cause I did learn a good lesson.

All the best for u........
  • #50
  • Aug 10, 2013 3:29am Aug 10, 2013 3:29am
Quoting seagreen
{quote} Close to zero.
Ohh so the odds are like playing in the lottery? Here in germany the odds to win the lottery jackpot are 1 : 140000000! Trading forex should be a bit lower though
  • #51
  • Aug 10, 2013 6:53am Aug 10, 2013 6:53am
Quoting goldcrash
{quote} Ohh so the odds are like playing in the lottery? Here in germany the odds to win the lottery jackpot are 1 : 140000000! Trading forex should be a bit lower though
The odds of winning a single trade with 1:1 risk reward are closer to 50% minus transaction costs. Having a good strategy may in theory turn the odds in your favor. Having no experience gives you almost zero chance to turn even a profitable strategy into real money. I'm not talking you against trading, go ahead, get that experience.
  • #52
  • Aug 10, 2013 8:40am Aug 10, 2013 8:40am
Quoting seagreen
{quote} The odds of winning a single trade with 1:1 risk reward are closer to 50% minus transaction costs. Having a good strategy may in theory turn the odds in your favor. Having no experience gives you almost zero chance to turn even a profitable strategy into real money. I'm not talking you against trading, go ahead, get that experience.
if that were true, noone would make money with 1:1 trades over time. you are wrong! it is possible to go all the way to 90%+ consistent accuracy with good normal money management (so therefore no martingale please)
  • #53
  • Aug 10, 2013 8:41am Aug 10, 2013 8:41am
No matter how good ur method is, u will still face losing trades! Just dun be too complacent over what you achieve in the short time... It is always best to think, how u gonna handle if u face series of losing trade. Plan for the worst first.... Seems like u r trading daily/4hr time frame and > 1:1 risk reward right? At least, there is a positive sign... New trader shud know how to trade in the longer time frame instead of lower time frame such as 2,15mins. Let me think u one thing about risk reward, the higher u aim, the lower the success rate. Good luck!
  • #54
  • Aug 10, 2013 9:50pm Aug 10, 2013 9:50pm
Quoting Starry
{quote} if that were true, noone would make money with 1:1 trades over time. you are wrong! it is possible to go all the way to 90%+ consistent accuracy with good normal money management (so therefore no martingale please)
Let me repeat this part, you might have missed it:

Having a good strategy may in theory turn the odds in your favor.
  • #55
  • Aug 10, 2013 10:00pm Aug 10, 2013 10:00pm
Quoting seagreen
{quote} Let me repeat this part, you might have missed it: Having a good strategy may in theory turn the odds in your favor.

in theory, saying in theory implies you dont believe it so i dont believe you meant that part, i must have skipped that
  • #56
  • Aug 11, 2013 4:18am Aug 11, 2013 4:18am
Quoting goldcrash
Hi folks... In 2 weeks I will start trading with a real money account . My capital is 330 AUD. Im risking 11 trades, each 30 AUD. So what I would like to know is, how far will I come?? Do u think I will get broke? How big is the chance to get 10.000 AUD out of it?Please...I mean it serious Thank you for all of your opinions. Regards, Steffen
your go as far as you think you might buy a mansion, then be alll over : )

whats your leverage @?

risk 30 point stops?
  • #57
  • Aug 11, 2013 4:48am Aug 11, 2013 4:48am
Quoting sfx-_-
{quote} your go as far as you think you might buy a mansion, then be alll over : ) whats your leverage @? risk 30 point stops?
leverage should be like 400:1 and stop loss depends on my trade..but I think its always more than 30 pips
  • #58
  • Aug 11, 2013 5:23am Aug 11, 2013 5:23am
Quoting goldcrash
{quote} leverage should be like 400:1 and stop loss depends on my trade..but I think its always more than 30 pips

try 1000

an get some your A+ trades

30 a point x 350 points = 10500
(risk 10 points)

its def possible
  • #59
  • Aug 11, 2013 7:34am Aug 11, 2013 7:34am
Quoting seagreen
{quote} The odds of winning a single trade with 1:1 risk reward are closer to 50% minus transaction costs. Having a good strategy may in theory turn the odds in your favor. Having no experience gives you almost zero chance to turn even a profitable strategy into real money. I'm not talking you against trading, go ahead, get that experience.
Odds of winning a random 1:1 trade are much less than 50 percent after taking in to account a variable spread.
  • #60
  • Aug 11, 2013 9:07am Aug 11, 2013 9:07am
Quoting Starry
{quote} in theory, saying in theory implies you dont believe it so i dont believe you meant that part, i must have skipped that
I meant what I said, don't try to twist it your way. I hope you understand the difference between theory and real trading.
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