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

Quoting AcesHigh
before you all go too far...think this scenario could be happened : initial balance $100 day one $50 day two $25 ... 3 --> $12.5 4 --> $6.25 5 --> $ 3.125 6 --> $1.5625 .....in a week account already blow...! I've been there.. no offense just my opinion...
iv done this like 3 times at Upfx lol
He who knows when he can fight and when he cannot, will be victorious.
Neat concept. The risk is low enough that if you keep working at it ( employing trading methodologies you know work) you really should do well. I certainly don't have a 91 w/l ratio, but even my 2-1 w/l will generate a decent amount of money. Thanks for posting the idea!
The problem with that approach is the amount. One just don't take $50 seriously. As a result he/she will do doubt trades, keeping in mind that these are not so much money. It is inevitable. With some luck it might get to $1000, but the million jorney is still far ahead. Then the bad trades will come and soon - back to square one. Time and money lost - probably no lessons learned. Instead - try to put 10000k, wait for the right opportunity and swing tradefor 800+ pips - one can achieve 100%. The oportunity might come 2 times per year but you get very much closer to mil, instead dicking arround qith $50. The bigger the amount is, the wiser opportunities you will seek. I really think people have common misunderstanding that day trading is easy anr swings are difficult - it is the exact opposite.
Quoting michaelpelly
The problem with that approach is the amount. One just don't take $50 seriously. As a result he/she will do doubt trades, keeping in mind that these are not so much money. It is inevitable. With some luck it might get to $1000, but the million jorney is still far ahead. Then the bad trades will come and soon - back to square one. Time and money lost - probably no lessons learned. Instead - try to put 10000k, wait for the right opportunity and swing tradefor 800+ pips - one can achieve 100%. The oportunity might come 2 times per year but you get...
yes but putting 10,000k on one trade is not the point of this thread. its "rags to riches". if you went for 5% weekly gains off 10,000 risking 2% youd be rich in 1-2 years TOPS if your consistent
He who knows when he can fight and when he cannot, will be victorious.
Quoting TheDDReport
{quote} iv done this like 3 times at Upfx lol
Same as most of us who have decided to give this concept a try. This is the way I choose to look at it initial balance $100, week 1 - $200, week 3 - $400, week 5 -no trade, week 7 I $800, week 9 - $1,60... Week 23ish - $51.2k. A 9 win streak is also very possible if you seek out wonderful setups fortnightly. I choose to be & remain optimistic.
Quoting kinzu
{quote} Same as most of us who have decided to give this concept a try. This is the way I choose to look at it initial balance $100, week 1 - $200, week 3 - $400, week 5 -no trade, week 7 I $800, week 9 - $1,60... Week 23ish - $51.2k. A 9 win streak is also very possible if you seek out wonderful setups fortnightly. I choose to be & remain optimistic.
"Good" opportunities can be found everyday on every pairs.
I'm sure you can achieve it in 1/2 week time (10 good trades from 50$ to 50k)
By looking at the eurusd, it moves up/down smoothly at least 30 pips everyday
COT: The precious data ignored
OK, lets compare the results in 2 weeks from now - I'll ping you on that.
Quoting michaelpelly
OK, lets compare the results in 2 weeks from now - I'll ping you on that.
Not going for real yet, i'm testing it first.
But i'll do it soon
COT: The precious data ignored
Quoting TheDDReport
{quote} yes but putting 10,000k on one trade is not the point of this thread. its "rags to riches". if you went for 5% weekly gains off 10,000 risking 2% youd be rich in 1-2 years TOPS if your consistent
I've seen 2-3 trading accounts posted here for >=5% a week (consistently, every week) for over 3-4 yrs. From the thousands and thousands of registered traders the chance one achieve that is worse than figure-out a business to do the money target. But that is just my opinion.
Quoting michaelpelly
{quote} I've seen 2-3 trading accounts posted here for >=5% a week (consistently, every week) for over 3-4 yrs. From the thousands and thousands of registered traders the chance one achieve that is worse than figure-out a business to do the money target. But that is just my opinion.
Are you one of the dude that think it cannot be done because you haven't done/succed it ?
COT: The precious data ignored
It can and WILL be done!
He who knows when he can fight and when he cannot, will be victorious.
I don't even think it can be done. I do not even try it, have no desire to aim for Jupiter when money are everywhere around .

I was curious - and checked the Top 20 of the traders in the live accounts - the ones that have top % return for 2013. Interesting results I find - only 3-4 of them actually have positive % for "All time" and the ones that have it - traded it for average >75 weeks.

$50 -> $50k in couple weeks?! More chance to construct space ship and get on the Moon. I'm actually bachelor in aeronautics (engines) - more statistical chance to get there than you to win a mil in this manner

Because of this thread I have decided to give this a go.


Wish me luck.


http://www.myfxbook.com/members/gdrought/gdr3k/697509


http://widgets.myfxbook.com/widget?i...=2&color=black


Good luck!
Quoting GDR3k
Because of this thread I have decided to give this a go. Wish me luck. http://www.myfxbook.com/members/gdrought/gdr3k/697509 {image}
YOU CAN DO IT!!! prove all these nay sayers wrong!
He who knows when he can fight and when he cannot, will be victorious.
Quoting GDR3k
Because of this thread I have decided to give this a go. Wish me luck. http://www.myfxbook.com/members/gdrought/gdr3k/697509 {image}
Good luck...go for the million! At least the 50k
COT: The precious data ignored
Hey! And when you get there! Do not forget those motivating "sayers" - send them a nice 15yrs bottle of Irish stuff...
Quoting michaelpelly
I don't even think it can be done. I do not even try it, have no desire to aim for Jupiter when money are everywhere around .
You missed an important thing: we are all here in this thread "playing" with a very small part of the money we have for trading.

"Play" is the main word of this thread. Some will reach their goal, some not ... this is the deal and we all know this.

And of course, nobody here is playing with the bigger part of their trading money. Bigger account is still traded in an most conventional way ... and safely. But this is not part of this thread.
MT4/MT5 EAs/Indicators/Alerts coder
Quoting TheDDReport
{quote} YOU CAN DO IT!!! prove all these nay sayers wrong!
Don't worry, I intend to

Quoting kuroro001
{quote} Good luck...go for the million! At least the 50k
I'll give it my best shot I'll be waiting for the very best entries which give me the best R:R, considering the high risk.

As others have said, this is just a play account, I will still still be trading my normal account as well.

Quoting Rag2RichesFX
But I do like to keep the 1:2 ratio intact always. For example: Account #1 = SL 15, TP 30 Account #2 = SL 30, TP 60 Account #3 = SL 60, TP 120 Etc...

Correct me if I am wrong but massive leverage is required if you want to double your account if your TP is 30 - 60 pips.

For eg. a $10000 account would require you to trade 20 lots (over 1:200 leverage) with a TP of 50 pips to double your account.

Otherwise strategy is good
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