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Rags to Riches in 10 or 20 Trades - Simplicity at its finest

  • #241
  • Sep 8, 2013 10:22am Sep 8, 2013 10:22am
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting Rag2RichesFX
{quote} having a large start capital to succeed is the biggest myth in trading



...... I agree...totally....
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #242
  • Sep 8, 2013 7:08pm Sep 8, 2013 7:08pm
I'm forward testing a new system that uses regression analysis, it just finished 15 winners in a row and so far has a 72% win rate. I will definitely be opening a trade explorer on a demo account and run this system through it using my own method of money management.
  • #243
  • Sep 8, 2013 8:02pm Sep 8, 2013 8:02pm
Quoting Rag2RichesFX
{quote} never im just saying money is never an object to success having a large start capital to succeed is the biggest myth in trading
That is true that it isnt necessary to have large capital and success is independently measured. Having a large starting capital without an edge, a plan and any emotional resolve will likely leave you broke but once you have those things capital is helpful in trading for a living as the gains % wise don't need to be so great, the risk can be lower for greater financial outcome as opposed to the high risk model of smaller accounts.

RT
  • #244
  • Sep 8, 2013 10:15pm Sep 8, 2013 10:15pm
this strategy seems good to a system with winning rate of +80% ...

even with this astonishing winning rate, you'll need a very little drawdown or you're dead quickly...

in other words, this would be 'the holy grail', which doesn't exists as we all know.

to earn money trading the markets you have to build your capital little by little, day by day and so on.

this is how I think.
  • #245
  • Sep 8, 2013 11:36pm Sep 8, 2013 11:36pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting CindyXXXX
Listen to the Owl! hoo hoo
Hey Cindy they did say the Owl is the wisest animal in the kingdom... way over the wolf anyhow!!! lol....

it's the only animal that can spin it's head 360 degrees without breaking it's neck!!!....

so there is something to this creature worth paying attention to not trying to bring in

any conspiracies dealing with bohemian grove neither....
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #246
  • Sep 8, 2013 11:40pm Sep 8, 2013 11:40pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Owl
it's the only animal that can spin it's head 360 degrees without breaking it's neck!!!
Are you sure ?

Inserted Video
MT4/MT5 EAs/Indicators/Alerts coder
  • #247
  • Sep 8, 2013 11:47pm Sep 8, 2013 11:47pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting zenseven
{quote} Kuroro and Owl! I agree and disagree with you Gamblers exist.

A calculated well thought out risk expecting a reward is called a edge not gambling the thought that goes into the process eliminates and

separates the gamblers from those who have a checklist or does research therefore increasing probabilities to receive the desired outcome

If I flip a coin or play my favorite number,color,team or side and just close my eyes hoping for profit then that is a great example of a gambler

But any due diligence, research,or analysis done before the "pick","bet","trade" allows you to become an investor with an edge expecting profits....

I hope this is clear for all to see there is a huge difference I wish a whole lot of folk would stop confusing the two and thinking it's the same thing

because it's clearly and obviously not.... thanks signing out and happy trading.....
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #248
  • Sep 8, 2013 11:59pm Sep 8, 2013 11:59pm
Quoting traxis
..., a new system that uses regression analysis, it just finished 15 winners in a row and so far has a 72% win rate.
Nice stuff Traxis.
Could you show us a pointer as to where to look for this kind of regression analysis system?

Cheers, Max.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #249
  • Sep 9, 2013 1:40am Sep 9, 2013 1:40am
I must say that I was thinking about similar method for a while.
my idea is to trade on commodities: mostly oil and silver - you all probably know that investing all the account gives 100% at small move (or marigin call closes you at 50% lose) - with just 10 good trades in a row you can get quite a good money - I just need to focus on proper entries by PA and Dance rules and keep testing it on demo, but as a matter of fact it would be more gambling than trading and will need more of a luck than skills - so tests on demo will not guarantee success on real account - but I think it's still worth to try
On my way to financial independence - if others can do it - I can do it
  • #250
  • Sep 11, 2013 4:06am Sep 11, 2013 4:06am
Account burned. Lessons learned. Another $50 coming up
  • #251
  • Sep 11, 2013 2:36pm Sep 11, 2013 2:36pm
Quoting kinzu
Account burned. Lessons learned. Another $50 coming up
I'll give it a shot at the end of the month.

Probably eurusd and audusd only.

But keep it up !
COT: The precious data ignored
  • #252
  • Sep 11, 2013 6:50pm Sep 11, 2013 6:50pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting kuroro001
{quote} I'll give it a shot at the end of the month. Probably eurusd and audusd only. But keep it up !

...... yes...keep it moving...keep going!!!!

your skill will allow you to get it and see it eventually...so just don't stop!!!....
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #253
  • Sep 12, 2013 1:50am Sep 12, 2013 1:50am
Quoting Owl
{quote} ...... yes...keep it moving...keep going!!!! your skill will allow you to get it and see it eventually...so just don't stop!!!....
And the odds are in our favor if we think this way :

if You blow up 4 times 50$ acccount, it means you tried 4 * 2 try = 8 bad trades in a row (one to get from 50$ to 25$, and the other try to blow up the last dollars).
But you only need 2 good trades in a row , to go from 50$ to 100$ and then from 100$ to 200$

So a loss of 200$ in 8 trades can be recovered in only 2 good trades in a row
COT: The precious data ignored
  • #254
  • Sep 12, 2013 1:58am Sep 12, 2013 1:58am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting kuroro001
{quote} And the odds are in our favor if we think this way : if You blow up 4 times 50$ acccount, it means you tried 4 * 2 try = 8 bad trades in a row (one to get from 50$ to 25$, and the other try to blow up the last dollars). But you only need 2 good trades in a row , to go from 50$ to 100$ and then from 100$ to 200$ So a loss of 200$ in 8 trades can be recovered in only 2 good trades in a row
I would highly suggest to the newbies reading here to keep in mind that this can be achieved only with a method which has a consistent 50+% win rate with a 1:2 RR.
MT4/MT5 EAs/Indicators/Alerts coder
  • #255
  • Sep 12, 2013 2:12am Sep 12, 2013 2:12am
Quoting FerruFx
{quote} I would highly suggest to the newbies reading here to keep in mind that this can be achieved only with a method which has a consistent 50+% win rate with a 1:2 RR.
Yes of course, like any system if you want to make money you need to have at least 50% win rate with a minimum RR 1:2

But if you blow up 4 accounts in a row, which mean you have 8 bad trades in a row then something is wrong.
COT: The precious data ignored
  • #256
  • Sep 12, 2013 2:27am Sep 12, 2013 2:27am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting kuroro001
{quote} Yes of course, like any system if you want to make money you need to have at least 50% win rate with a minimum RR 1:2 But if you blow up 4 accounts in a row, which mean you have 8 bad trades in a row then something is wrong.
A bad streak of 8 losers doesn't mean that in the long run the win rate is lower than 50%.

A bad streak can be followed by a good one !

Anyway 2 bad trades won't blow 50$ ... 1st trade risk is 50% of the 50$ ... 2nd trade 50% of the remaining ... and so on. Unless you decide to trade 25$ and 25$ ... But I doubt that the 2nd one (the whole remaining account) can be opened due to margin.
MT4/MT5 EAs/Indicators/Alerts coder
  • #257
  • Sep 12, 2013 2:41am Sep 12, 2013 2:41am
Quoting FerruFx
{quote} A bad streak of 8 losers doesn't mean that in the long run the win rate is lower than 50%. A bad streak can be followed by a good one ! Anyway 2 bad trades won't blow 50$ ... 1st trade risk is 50% of the 50$ ... 2nd trade 50% of the remaining ... and so on. Unless you decide to trade 25$ and 25$ ... But I doubt that the 2nd one (the whole remaining account) can be opened due to margin.
No it doesn't, but its not good
And yes it can be followed by a good one, or an even worst !

I think you could be able to trade off 25$, it depends the leverage allowed by your broker.
I'm looking for a good and serious broker with high leverage so i can try it out
COT: The precious data ignored
  • #258
  • Sep 12, 2013 2:56am Sep 12, 2013 2:56am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting kuroro001
I'm looking for a good and serious broker with high leverage so i can try it out
In my opinion you can't put in the same sentence "serious broker" and "high leverage" ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #259
  • Sep 12, 2013 4:16am Sep 12, 2013 4:16am
Quoting FerruFx
{quote} I would highly suggest to the newbies reading here to keep in mind that this can be achieved only with a method which has a consistent 50+% win rate with a 1:2 RR.
With R=2, 67% win rate is the minimum to bet 50% of your money. 50% winrate and RR=2, that's 25% no more.
No greed. No fear. Just maths.
  • #260
  • Sep 12, 2013 4:20am Sep 12, 2013 4:20am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting PipMeUp
{quote} With R=2, 67% win rate is the minimum to bet 50% of your money. 50% winrate and RR=2, that's 25% no more.
Yes that's why I wrote 50+% ...
MT4/MT5 EAs/Indicators/Alerts coder
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