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

  • #281
  • Sep 12, 2013 3:34pm Sep 12, 2013 3:34pm
Quoting CindyXXXX
{quote} And you're speaking from experience I trust meaning: (you yourself have succeeded in trading) Just want to know who I'm talking to, not being a dick
success is never ending.

but ive made many fold more than ive deposited, if thats what you mean

do i have over $100,000 in profits? no.

hopefully sometime next year i'll hit that mark
Be hopeful in a winning position, and fearful in a losing position.
  • #282
  • Sep 12, 2013 4:18pm Sep 12, 2013 4:18pm
Quoting Rag2RichesFX
{quote} so you won 2 in a row then lost 3 in a row? yeah i like sl 30 and tp 60. or sl 25 and tp 50 (if you think a 60 tp can't be reached) plus its exactly 200:1 leverage also this is crucial, but if you see a strong reversal candle and your TP is 75% reached, make the decision between either taking the 75% gain, or if you don't, you should surely trail the stop to BE. for example if your TP is +50 and you get a strong doji at +45 or +40, then take the profit is what i usually will do. a 75% gain is good enough for me but, if you want the full...
Lol I'll sure set SL to BE based on market conditions but will try to avoid TPing prematurely. Looking forward to a streak of 3wins before a loss. That will help me stick to the plan. I hope to get the account to $100k in 26weeks.
  • #283
  • Sep 12, 2013 5:05pm Sep 12, 2013 5:05pm
Have you ever heard of Kelly formula?

1:4 RR with 75% win ratio? = In your dreams.
Yeah?! Well.. you know, that's just like.. your opinion man! - Big Lebowski
  • #284
  • Edited 5:34pm Sep 12, 2013 5:15pm | Edited 5:34pm
Quoting Yuri57
Have you ever heard of Kelly formula? 1:4 RR with 75% win ratio? = In your dreams.
Lol, yet again another person who didn't even read the thread.

That is an optional strategy, to use 1:4 instead of 1:2


i have successfully taken 1:30 risk reward trades before, what is so "in my dreams" about 75% win ratio on 1:2?

stop loss of 20 pips and take profit of 600.


and again you don't even need that high of a win %, you need a 66% win


let me guess, you are another one of those humans who believes that something has never been done before and cannot be done,
simply because you have not done it.
Be hopeful in a winning position, and fearful in a losing position.
  • #285
  • Edited 5:39pm Sep 12, 2013 5:20pm | Edited 5:39pm
Quoting kinzu
{quote} Lol I'll sure set SL to BE based on market conditions but will try to avoid TPing prematurely. Looking forward to a streak of 3wins before a loss. That will help me stick to the plan. I hope to get the account to $100k in 26weeks.
two of the hardest things to master:

1) patience finding great trades

2) not allowing ego to take over (after winning) and THINKING you found a great trade (taking a day or two break from the market can help this)


if you can do those two things, winning 15 out of 20 trades with a 1:2 r/r over the course of 6 months shouldn't be difficult. this assumes on average less than 4 trades per month... so its possible it is done faster than this...

15 out of 20 gives you a nice $50 to $50,000 run


after successful with that you can start with $400 risks and you need 7 NET WINNERS to make $50,000,
instead of 10 NET WINNERS like you do when starting with $50 risks

9 wins 2 losses,
18 wins 11 losses...
36 wins, 29 losses..

its all the same

7 net winners
Be hopeful in a winning position, and fearful in a losing position.
  • #286
  • Sep 12, 2013 6:40pm Sep 12, 2013 6:40pm
Thanks for the thread. Really good mix of ideas here and not too much of the BS. Thanks to all contributors for the ideas.
Am subscribing to this thread and look forward to contributing my ideas as well.

I believe this can work.... and YES R2R, I did read the entire thread before posting (thru post 286)

I have had a few 90% to 100% winning months of late and have been able to stay out of big trouble all year thus far. It has been well over one year since my ego allowed the market to hand me my as*. This is my 5th year as a trader and am finally seeing some solid, repetitive, consistent results.

My worst month in the last 14 months is a win rate of 44%... and have been under the 50% win rate only 2 months out of the last 14. (I did not trade JUL/AUG)
(best month of the last 14 had a 100% win rate and included a streak of 12 straight wins - both a personal best to date)

I have about 9 or 10 strategies/edges, that when executed properly can yield the necessary win rate of 65%-75% for this thread's theory to work. I spent the last 12 or 14 months getting the ego out of trading, cutting losses quickly without regard to emotions and developing a belief in my skills and in MYSELF. (By far - the toughest part of trading successfully)

I was beginning to believe that the only to way to have a one million dollar Forex trading account was by starting with a 10 million dollar Forex trading account.
Perhaps its time to give the idea behind this thread an try.

Thanks again for the thread and to all who contribute positively.
  • #287
  • Sep 12, 2013 7:05pm Sep 12, 2013 7:05pm
Hope this thread is not a set up from the market makers and all these unreliable broker to swindle the greedy ones of their rags
  • #288
  • Edited Sep 13, 2013 2:06pm Sep 12, 2013 7:30pm | Edited Sep 13, 2013 2:06pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting aje6767
Hope this thread is not a set up from the market makers and all these unreliable broker to swindle the greedy ones of their rags

Unbelievable!!!!....Smh.... Here is someone who has been around forex 5 years and still can't see this as a probability!!!

Just keep trading your 1 or 2 percent 500 or 1000 dollar account and stay out of this thread for this is clearly not for you

because you don't have no vision to see this as probable for yourself doesn't mean this is impossible for everyone else that

has the eyes to view it because they see it and are ready to take it on the task that is it takes heart to step up into it....

Plus it's also obvious you have never tried this style of trading especially since you think it can't work because here's a totally

logical and feasible approach to getting it done and still there's no movement in your belief system....So guess what happens now?

Since this seems too good to be true then it IS just for YOU and the others who feel the same way too and therefore you will never

obtain or get it....immediate dismissal without research means you will miss out on the boat all the time you will never know simply

because you never believed so you will never try....so adios amigo vamos hasta luego!!!!!
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #289
  • Sep 12, 2013 8:54pm Sep 12, 2013 8:54pm
Balls to the wall trading works SOMETIMES if one has at least some talent for it.
Withdraw or cry is the LAW. Rags to riches in 10,000 trades is still more like it.
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  • #290
  • Sep 12, 2013 9:12pm Sep 12, 2013 9:12pm
Quoting aje6767
Hope this thread is not a set up from the market makers and all these unreliable broker to swindle the greedy ones of their rags
I assure u market makers don't care about stopping out 1 or 2 million units of currency

And I assure u I am not a big player
Be hopeful in a winning position, and fearful in a losing position.
  • #291
  • Sep 12, 2013 10:37pm Sep 12, 2013 10:37pm
Quoting Rag2RichesFX
{quote} two of the hardest things to master: 1) patience finding great trades 2) not allowing ego to take over (after winning) and THINKING you found a great trade (taking a day or two break from the market can help this) if you can do those two things, winning 15 out of 20 trades with a 1:2 r/r over the course of 6 months shouldn't be difficult. this assumes on average less than 4 trades per month... so its possible it is done faster than this... 15 out of 20 gives you a nice $50 to $50,000 run after successful with that you can start with $400...
Thanks for giving me perspective. Reducing my target to $50k, I'll still start with $100 and take 1 trade every 2 weeks (2 trades a month). That way I feel less pressure and will have more time in between trades. 11wins and 2losses should get me to the target within 6months. Just to prove to the doubting Thomases that it is possible. I think I should create a system out of it that way I will rest my main account and trade only set ups that have profit written all over it.
  • #292
  • Sep 12, 2013 10:50pm Sep 12, 2013 10:50pm
Quoting Owl
{quote} Unbelievable!!!!....Smh.... Here is someone who has been around forex 5 years and still can't see this as a probability!!! Just keep trading your 1 or 2 percent 500 or 1000 dollar account and stay out of this thread for this is clearly not for you because you don't have no vision to see this as probable for yourself doesn't mean this is impossible for everyone else that has the eyes to view it because they see it and are ready to take it on the task that is it takes heart to step up into it.... Plus it's also obvious you have never tried...

I can relate. No matter how long you've been around, you need to keep an open mind to be successful.
  • #293
  • Sep 13, 2013 10:48am Sep 13, 2013 10:48am
Quoting kinzu
{quote} I can relate. No matter how long you've been around, you need to keep an open mind to be successful.


You are right. An open mind is an important factor for success.
  • #294
  • Edited 3:09pm Sep 13, 2013 2:52pm | Edited 3:09pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting kinzu
{quote} I can relate.

There is nothing wrong with having a conservative account when you are making slow and steady gains

but this thread is about trying to reward yourself for your efforts and skill by having a bonus more aggressive

type account on the side running at the same time and that's why it's about getting in as quickly as possible

and getting out just as fast maybe even faster I see this as a test of your skill not your might and if you make

it through you can say you sort of robbed the bank in a little more than over a dozen trades....So all we got

to do is ask our self do we have what it takes to make that break through to where it seems like we hit that lottery

but mechanically with calculations that was first born out of a theory and since it's true it can now be done over and

over again repeatedly like the formula or the recipe also remember the risk heavily pales in comparison against the

scale of the handsome and large reward... so go on ahead!!! Us over here who knows dares those who's on the other

side of the fence about this to challenge and reward yourself with a pay raise if you can we double dare ya!!!!.... 50-60

pip swings happen all the time throughout the many currency pairs to trade from but don't trade everyday just choose

"The Greatest Setups You Ever Seen In Your Life"... Those are the types we are looking for here...That's what this thread is about....

What's 50 to 100 bucks to an investor who knows how to trade currency? It isn't nothing but a stake in a larger piece of the pie and trust

me we know how to make that cake rise over here....Get with this new age program It's not anything you want to slam or fight against so

if you can't beat us join us we are the movement....Wake up open up your eyes you can see it we getting it all together and altogether over here...

We got it..... This is "Forex Evolved" type of thinking...
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #295
  • Sep 13, 2013 3:27pm Sep 13, 2013 3:27pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
The power of the numbers are with you off of the strength you can draw them up and see them

on paper means that it can happen regardless of the chances...... and once you know what you

are doing maneuvering you increase the odds and chances...One can only gain confidence to trade

this type of way through research and knowing how to move in what type of market you are in

and it's most definitely not recommended for newbies to "try this at home"....
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #296
  • Sep 13, 2013 11:18pm Sep 13, 2013 11:18pm
well said owl

no one is saying using this method of money management doesn't mean you cant also use a more traditional method.
Be hopeful in a winning position, and fearful in a losing position.
  • #297
  • Sep 14, 2013 12:39am Sep 14, 2013 12:39am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Rag2RichesFX
well said owl no one is saying using this method of money management doesn't mean you cant also use a more traditional method.
Exactly. A small account to "play" at high risk ... and a bigger account to trade conventional risk.

And that's very important to understand that this thread has nothing to do with a trading method/system. This is just money management. The trading method is yours. If you don't have a comfortable win rate at 2R method, you should skip this thread !
MT4/MT5 EAs/Indicators/Alerts coder
  • #298
  • Sep 14, 2013 5:35am Sep 14, 2013 5:35am
Quoting Owl
{quote} There is nothing wrong with having a conservative account when you are making slow and steady gains but this thread is about trying to reward yourself for your efforts and skill by having a bonus more aggressive type account on the side running at the same time and that's why it's about getting in as quickly as possible and getting out just as fast maybe even faster I see this as a test of your skill not your might and if you make it through you can say you sort of robbed the bank in a little more than over a dozen trades....So...

Well said! This thread is devoted to those of us who are 'wired' to always think outside the box. It's genetic
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  • #299
  • Sep 14, 2013 10:00am Sep 14, 2013 10:00am
Been following the thread for a while. It seems to me this is trading back at square one, but with experience. The normal route for a trader is:

1. Attracted to forex by making big, quick, low risk financial gains - its simple right.
2. Win a few
3. Get cocky and lose more.
4. Experience various margin calls while trying every system under the sun.
5. Learn that its about patience, discipline
6. Conquer the demons within
7. Become more consistent
8. Become profitable.

For those that have reached stage 8, it is a natural step to revisit step one, armed with all the expereince knowledge, patience and discipline acquired over the years. It's not so much thinking outside the box, but facing the box with a whole set of tools you previously didn't have.

I think many traders arrive at step 8, and forget that step 1 was achievable, it's just most need to have walked the walk first.
  • #300
  • Sep 14, 2013 10:08am Sep 14, 2013 10:08am
Quoting FerruFx
{quote} Exactly. A small account to "play" at high risk ... and a bigger account to trade conventional risk. And that's very important to understand that this thread has nothing to do with a trading method/system. This is just money management. The trading method is yours. If you don't have a comfortable win rate at 2R method, you should skip this thread !
Yes indeed, and you can even fund the conventional account with the gain of your risky one....That's what i plan to do

But first let's get to 5k/10k from 50$
COT: The precious data ignored
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