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

  • #461
  • Sep 20, 2013 4:35pm Sep 20, 2013 4:35pm
Quoting timos
How much leverage is required (50$ account) so you don't get stopped out before trade hit SL for margin call ?

for 25 pips stop loss 200:1


recommend putting more than $50 in so you can deal with that..


my original calculation (in the digging picture) is actually using a $25 initial stop loss
Be hopeful in a winning position, and fearful in a losing position.
  • #462
  • Sep 20, 2013 10:35pm Sep 20, 2013 10:35pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
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  • #463
  • Sep 20, 2013 10:41pm Sep 20, 2013 10:41pm
Quoting FerruFx
{image}
I think that person should be executed because of the negative influence to the community by him/her.
So sorry for always replying late! But I got 2 Jobs!!
  • #464
  • Sep 21, 2013 3:00am Sep 21, 2013 3:00am
I would like the trader to continue posting statements for the next 5 months, to see how well he will perform. I know it is very possible to have such returns but consistency is the issue. Well done. I am working towards such a magnificent return myself.
  • #465
  • Sep 21, 2013 3:39am Sep 21, 2013 3:39am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting babwilliams
I know it is very possible to have such returns but consistency is the issue.
Absolutely. However consistancy isn't part of what we discuss in this thread. We discuss here about money management.

Consistancy is on your side ... your own trading.
MT4/MT5 EAs/Indicators/Alerts coder
  • #466
  • Sep 21, 2013 5:32am Sep 21, 2013 5:32am
While we are living in a fantasy land why aim so low. I think you are trying to discribe to the good people what Einstein described as the 8th wonder of the world. In order to do this you may want to pull head out of ass first and not base your example on a 50% capital risk with a 100% success rate. Fkn schmuk. You know what a schmuk is. It is yiddish for camels schlong. Which for the sake of trading is as about as useful for trading as your example.
ha!
lets try for arguments sake starting with 50 k. Risking 5% per trade for 5% gain. You will need approx 29winning trades nett to reach 200k. Or 65 or so winning trades nett to reach 1million. Draw a spread sheet up and see. It is pure fact.
i would risk 5% and aim for 10% gain however.
BUT more importantly is to develop the system and discipline to follow and exacute that system. Do not get distracted with the dollars. EVERY TRDE IS THE BEST FKN TRDE YOU CAN MAKE. That my focus.

No doubt most of you are better more experienced traders than me. But thats what works for me, when i focus.

holla if this rang true.
  • #467
  • Sep 21, 2013 3:16pm Sep 21, 2013 3:16pm
Quoting workethic101
While we are living in a fantasy land why aim so low. I think you are trying to discribe to the good people what Einstein described as the 8th wonder of the world. In order to do this you may want to pull head out of ass first and not base your example on a 50% capital risk with a 100% success rate. Fkn schmuk. You know what a schmuk is. It is yiddish for camels schlong. Which for the sake of trading is as about as useful for trading as your example. ha! lets try for arguments sake starting with 50 k. Risking 5% per trade for 5% gain. You will need...
It is you who is in a fantasy world champ. Why dont you lay off the bong and the booze, re-read your post when your sober and come back another day with something even remotely useful.

And very few people here speak home boy talk or "holla" at anyone for that matter.

Nothing you said rings true.
  • #468
  • Sep 21, 2013 3:25pm Sep 21, 2013 3:25pm
Quoting workethic101
While we are living in a fantasy land why aim so low. I think you are trying to discribe to the good people what Einstein described as the 8th wonder of the world. In order to do this you may want to pull head out of ass first and not base your example on a 50% capital risk with a 100% success rate. Fkn schmuk. You know what a schmuk is. It is yiddish for camels schlong. Which for the sake of trading is as about as useful for trading as your example. ha! lets try for arguments sake starting with 50 k. Risking 5% per trade for 5% gain. You will need...

This is the best you could muster for your first post on FF. . That kind of tack won't serve you well around here. If you're here to learn, nobody will help you...if you're here to teach, no one will listen...if you're just here to flame, you'll be banned. Think it over and play nice.
  • #469
  • Sep 21, 2013 5:49pm Sep 21, 2013 5:49pm
Quoting workethic101
While we are living in a fantasy land why aim so low. I think you are trying to discribe to the good people what Einstein described as the 8th wonder of the world. In order to do this you may want to pull head out of ass first and not base your example on a 50% capital risk with a 100% success rate. Fkn schmuk. You know what a schmuk is. It is yiddish for camels schlong. Which for the sake of trading is as about as useful for trading as your example. ha! lets try for arguments sake starting with 50 k. Risking 5% per trade for 5% gain. You will need...
You need to pull your head in and show a little respect. If I see you post like this again, you will be GONE......and I assure you, THIS rings true.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #470
  • Sep 21, 2013 6:59pm Sep 21, 2013 6:59pm
Quoting workethic101
While we are living in a fantasy land why aim so low. I think you are trying to discribe to the good people what Einstein described as the 8th wonder of the world. In order to do this you may want to pull head out of ass first and not base your example on a 50% capital risk with a 100% success rate. Fkn schmuk. You know what a schmuk is. It is yiddish for camels schlong. Which for the sake of trading is as about as useful for trading as your example. ha! lets try for arguments sake starting with 50 k. Risking 5% per trade for 5% gain. You will need...
go home you're drunk !
  • #471
  • Sep 21, 2013 7:10pm Sep 21, 2013 7:10pm
Quoting workethic101
While we are living in a fantasy land why aim so low. I think you are trying to discribe to the good people what Einstein described as the 8th wonder of the world. In order to do this you may want to pull head out of ass first and not base your example on a 50% capital risk with a 100% success rate. Which for the sake of trading is as about as useful for trading as your example. ha! lets try for arguments sake starting with 50 k. Risking 5% per trade for 5% gain. You will need approx 29winning trades nett to reach 200k. Or 65 or so winning trades...

1st post as a new user and you chose this thread to demonstrate what kind of a person you are. You should put your focus on better language and grammar, maybe then someone might(I doubt it) listen to what you have to offer. Your need to use foul language shows no respect to either yourself or to others.

1greyfox
  • #472
  • Sep 21, 2013 7:19pm Sep 21, 2013 7:19pm
Absolutely right good people completely out of line with my frankness. Forgot how polite you americans are. Yes i think it was a little late in the afternoon for me to be on public forum, but it was not meant to give offence it was meant to be candid.
opologies again if any offence was made.
  • #473
  • Sep 21, 2013 7:52pm Sep 21, 2013 7:52pm
My original post was meant in reply to someone suggesting to risk 50% of capital per trade as a strategy. It was not a critic on all the experience and advice in this thread.
  • #474
  • Sep 22, 2013 5:41am Sep 22, 2013 5:41am
Hi All,

Like someone said before, I think that SL and TP must be dynamic. By that I mean that when you enter the trade you can start with a 10SL/20TPpip. But when the market moves in our way, SL must move in the same way, too. It reduces risk a lot and can even save you from a loss.
On the other hand, TP must also by dynamic. One should look at price action and move TP further if it has that momentum.

To achive this goal (I put it in the 100k level) you must be at the trading station all day to find the right entries. Or, you can enter a position, make your profit and go on with your life. of course it'll take much more time to get to 100k.

Now, regarding "the emotions" of trading with lots of money....my friends you either are focused or you're not. And if you can't handle the pressure work on it until you can. Don't loose time saying it's impossible. Harder things have been done if forex believe me...

It's a pitty so many posts in this thread are not looking for the ideia on the first post...

Cudos for your idea Rags2RichesFX.
Best Regards!
  • #475
  • Sep 22, 2013 5:45am Sep 22, 2013 5:45am
not sure if it helps any of you but fro my observations:
few years ago (during gold and silver bubble) I had 2 accounts. both trading silver both without s/l. on one of them I kept investing 100% of account all the time, on second one I was betting only 20% of account all the time. and guess what - the second one was doing better and gave me bigger profits even if the account wasn't supervised so often as the first one.
what I am on about - sometimes less means more
On my way to financial independence - if others can do it - I can do it
  • #476
  • Sep 22, 2013 5:26pm Sep 22, 2013 5:26pm
Can you do it on a consisten basis is the point..?

It's like a casino, you think you hit the jackpot and go for more nut reality is the odds are against you and soon it is all over.

Seems like there are mixed reviews on the forum

Im not sure its Pip pip hooray or good bye pips lol

How many people here have a educational background in Finance?

Has anyone paid somebody else to trade for them?
  • #477
  • Sep 23, 2013 2:38am Sep 23, 2013 2:38am
Quoting Itech
Can you do it on a consisten basis is the point..? It's like a casino, you think you hit the jackpot and go for more nut reality is the odds are against you and soon it is all over. Seems like there are mixed reviews on the forum Im not sure its Pip pip hooray or good bye pips lol How many people here have a educational background in Finance? Has anyone paid somebody else to trade for them?
you are right. you can't do it consistently, trading this way is called gambling ;-)
On my way to financial independence - if others can do it - I can do it
  • #478
  • Sep 23, 2013 3:00am Sep 23, 2013 3:00am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Eur Usd
{quote} you are right. you can't do it consistently, trading this way is called gambling ;-)
Totally wrong. We are not discussing here about a trading method (entry/exit/etc ...). So you can't say that it's gambling ... unless of course if you trade like a gambler.

Here we only discuss about money management. This is your own method which will make the profit/loss consistent ... The money management just increase your profit/loss.
MT4/MT5 EAs/Indicators/Alerts coder
  • #479
  • Sep 23, 2013 3:28am Sep 23, 2013 3:28am
Quoting FerruFx
{quote} Totally wrong. We are not discussing here about a trading method (entry/exit/etc ...). So you can't say that it's gambling ... unless of course if you trade like a gambler. Here we only discuss about money management. This is your own method which will make the profit/loss consistent ... The money management just increase your profit/loss.
This whole thread is about gambling. Regardless of how you look at it you are risking 50% of your account on an unknown outcome. It is unknown because regardless of what your approach is there is no certain outcome, if there was then you would risk your lifes wealth on that and each other trade that comes after it. This method is about taking a small amount with a risky approach and aiming for successive wins to multiple the account aggressively. The story is that it is an unemotional amount and therefore the risk of loosing it shouldn't be too bad.

IF you disagree with my statement then please can you tell me whether you think a professional Blackjack player that understands to the core basic strategy and card counting, is in an environment with a 4 deck shoe that requires manual shuffling and cutting (no auto shuffling between hands) and has over the course of there career played in some 10,000 hands. If they approached the table, even after getting the deck hot as hot, and risked 50% on each hand, would that be gambling. What if they risked a small portion and built on the winner aiming for 3-4 hands straight. Which situation is consider gambling and which is more trading. Im more akin to thinking the latter is a safer form of trading than the first.

Some may so it isn't but the fact that the only MM strategy is 50% and aiming for 2:1 or 4:1 and that you are basing it on an unknown outcome is gambling. Trading is just another term for it and there are varying degrees of trading, just as there are varying degrees of gambling.

Gambling as a term has with it a number of negative stereotypes but look at some of the biggest trade losses that have occured in the banking industry. When ever it is a win, its trading, you don't hear much about it, but when they trading doesn't pay off and it is a loss, it gets announced as gambling and the scape goat in question is rediculed for it.

The approach is fine, if it works out then great, if it doesn't and you don't loose sleep over it then that is great aswell, but saying this isn't gambling is wrong in my view. Even the best trader in the world trading there long term successful systems would say that risking 50% on an outcome is gambling.

RT
  • #480
  • Sep 23, 2013 3:37am Sep 23, 2013 3:37am
Life is a gamble, you can die at any time, your next breath may be your last, but you may also live for another 50 years.

People living in California. Pacific rim etc. know that an earthquake can happen any moment without warning yet they don't move to a safer location, why not ???

One cannot live on the negatives, what if the trade makes a profit and it gives 100% return, fantastic !!!
When all conditions are met - Enter trade - sit back and FRET !!!
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