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

  • #341
  • Sep 15, 2013 9:59pm Sep 15, 2013 9:59pm
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.
  • #342
  • Sep 15, 2013 11:56pm Sep 15, 2013 11:56pm
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!
  • #343
  • Sep 15, 2013 11:59pm Sep 15, 2013 11:59pm
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.
  • #344
  • Sep 16, 2013 12:39am Sep 16, 2013 12:39am
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.
  • #345
  • Sep 16, 2013 1:05am Sep 16, 2013 1:05am
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.
  • #346
  • Sep 16, 2013 1:29am Sep 16, 2013 1:29am
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
  • #347
  • Sep 16, 2013 1:30am Sep 16, 2013 1:30am
OK, lets compare the results in 2 weeks from now - I'll ping you on that.
  • #348
  • Sep 16, 2013 1:32am Sep 16, 2013 1:32am
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
  • #349
  • Sep 16, 2013 1:42am Sep 16, 2013 1:42am
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.
  • #350
  • Sep 16, 2013 1:59am Sep 16, 2013 1:59am
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
  • #351
  • Sep 16, 2013 2:02am Sep 16, 2013 2:02am
It can and WILL be done!
He who knows when he can fight and when he cannot, will be victorious.
  • #352
  • Sep 16, 2013 2:08am Sep 16, 2013 2:08am
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
  • #353
  • Sep 16, 2013 2:23am Sep 16, 2013 2:23am

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


  • #354
  • Sep 16, 2013 2:39am Sep 16, 2013 2:39am
Good luck!
  • #355
  • Sep 16, 2013 2:40am Sep 16, 2013 2:40am
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.
  • #356
  • Sep 16, 2013 2:44am Sep 16, 2013 2:44am
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
  • #357
  • Sep 16, 2013 2:46am Sep 16, 2013 2:46am
Hey! And when you get there! Do not forget those motivating "sayers" - send them a nice 15yrs bottle of Irish stuff...
  • #358
  • Sep 16, 2013 2:48am Sep 16, 2013 2:48am
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
  • #359
  • Sep 16, 2013 2:54am Sep 16, 2013 2:54am
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.

  • #360
  • Sep 16, 2013 2:55am Sep 16, 2013 2:55am
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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