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

  • #721
  • Oct 9, 2013 11:10pm Oct 9, 2013 11:10pm
Quoting Rag2RichesFX
can't wait to shutup all the haters but better yet, inspire all those who know it not only to be possible, but actually quite realistic if DISCIPLINED and PATIENT. having a GREAT week -- ill be there very soon (3-6 months) also had a 1:5 risk/reward trade today !! -- EA long 4272, stop loss 4261 and TP 4331 doesn't this song just get you in the mood to do battle with the market? http://www.youtube.com/watch?v=_D5H-...BJkoNJCISs8iPW next week im getting back to my all time high with "Rags to Riches MM"...
Can't wait to see some success stories out of this thread R2R
I recon this may end up being one of the best threads on FF..

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you should attach a trade explorer! Although that can be kind of daunting I guess.
Time hides Nothing
  • #722
  • Oct 9, 2013 11:13pm Oct 9, 2013 11:13pm
Quoting smash1820
{quote} Rags2Riches, I just want to say that I am a big fan of yours and I love this thread and the work that you're doing. You may know that I've been following you for some time, and whether or not you are as good a trader as you portray, I think you have brought up an extremely relevant point of discussion and that is how to leverage your winning trades and shrink your losers, so much to the extent that you can change your life within potentially just 10 or 20 trades. I personally think this is relevant to every single trader here on Forex Factory...
I appreciate the kind words and support of this thread

I'm not at all a big trader, I'm just a good trader who is trying to make it to being a big trader.

I usually trade between 20000 units and 100000 units (depending on stop loss). I've had moderate success growing capital over the past two years..



I'm actually a very conservative trader when it comes to RISK CAPITAL (deposits)

But profits are a different story

I have enough profits to not care at all if I lose $500 doing this

But I won't
Be hopeful in a winning position, and fearful in a losing position.
  • #723
  • Oct 9, 2013 11:22pm Oct 9, 2013 11:22pm
Quoting CindyXXXX
{quote} Can't wait to see some success stories out of this thread R2R I recon this may end up being one of the best threads on FF.. http://www.youtube.com/watch?v=E3wIJ774gJs you should attach a trade explorer! Although that can be kind of daunting I guess.
Nas one of my favorite

Last time I tried posted my explorer I made 450% gain (from 250 start deposit, but the gains on the initial stop loss was much greater, over 2000%)

then I lost most of it immediately after posting the explorer.
Its just my own stupid psychology, it shouldn't matter if you guys are watching my every move.. but I guess it does.
I seem to take dumb trades with the explorer. Could be coincidence but I'd say not.

Love me some immortal technique too


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Be hopeful in a winning position, and fearful in a losing position.
  • #724
  • Oct 9, 2013 11:27pm Oct 9, 2013 11:27pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting Rag2RichesFX
{quote} Nas one of my favorite Love me some immortal technique too
Let me find out?....

Rags has a little swag to him outside this forex world!.... ........
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #725
  • Oct 9, 2013 11:39pm Oct 9, 2013 11:39pm
Quoting Rag2RichesFX
... but still, they talk about $50 like its their whole life savings. if you can't afford to fail at least 10 times, dont even try.
Can't agree more!
MT4/MT5 EAs/Indicators/Alerts coder
  • #726
  • Oct 9, 2013 11:56pm Oct 9, 2013 11:56pm
Quoting Rag2RichesFX
{quote}then I lost most of it immediately after posting the explorer. Its just my own stupid psychology, it shouldn't matter if you guys are watching my every move.. but I guess it does.}
It's your ego, but everyone has one.. I would never put my real trade explorer up. There's really no need.

good trades to you sir
Time hides Nothing
  • #727
  • Oct 10, 2013 3:02am Oct 10, 2013 3:02am
Quoting Rag2RichesFX
{quote} i mean sure its cool to demo trade if you want... but you wont make any money, which is 100% what trading is about but you cant act like you know a ton about trading if you don't even have capital to risk (seems like there are many posting here.. which makes sense yes... because a title like "Rags to Riches in 10 or 20 trades" would attract a lot of new traders)... but still, they talk about $50 like its their whole life savings. if you can't afford to fail at least 10 times, dont even try. i mean who honestly only has $50 to trade on.....

Rags I find your thread awsome, and thanks for the cool idea....
By the way, coming back to OANDA, (looks like I work for them, but I don´t, they are as good and bad as average brokers who trade against you..)

The point is if you trade with them, initiall 50 $ you can have many more loosing trades than with lots or micro lots...you just keep going down till literally 1 cent....
You can use them to paper trade too , but with real money, say risking 10 cents per stop loss....it´s no money, but it´s psycologically different than trading with a virtual million...any dollar I can extract from the Big Boys gives me pleasure...
Remember my idea of starting with 1 $?
20 winners (R2/1) makes more than a million...out of a buck....that would be fun...
And by the way, I do have more than 500 in my trading account...
Anyway, good trading to all...
  • #728
  • Oct 10, 2013 3:19am Oct 10, 2013 3:19am
was thinking if one could open two accounts in two 1:1000 leverage brokers.Open two simultaneous opposing positions in the two brokers with a margin call as SL (the SL has to be relatively large) whenever a yearly high/low has been breached.

The expectation is that a trend will form or a mean reversion,one trade will be wiped out and the other would make a fortune,hopefully.However both may be wiped out.

anyone tried something of the sort.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #729
  • Oct 10, 2013 4:10am Oct 10, 2013 4:10am
Hello all. Just stumbled on this thread as I do not usually look in the discussions forums.
My 2 pennyworth... (tell me to go away if you think I am out of place)

1. The probabilities of success has been well and truly discussed and I think most are aware of the risks.
2. Wouldn’t be nice if people could refrain from slagging off other’s post and littering the thread with rubbish?
3. For the idea to have any chance of success then only way to succeed is to have extremely high probability entries.
4. For the thread to remain meaningful perhaps it would be good if people could outline their suggestions for these “extremely high probability entries” .

All kudos to R2R for sticking his head above the parapet.


M.
If you think I'm mad, I must be mad
  • #730
  • Oct 10, 2013 4:56am Oct 10, 2013 4:56am
Quoting venzen
{quote} hi cuchuflito, do you mean the video recently recently featured by ZeroHedge? http://www.zerohedge.com/news/2013-1...-market?page=1 If so, i just want to point out that, as explained in the video (and by similar employees now members here), "stop hunting" is not really what we think it is. It is not a deliberate attempt by the market makers to frustrate the retail crowd, but a natural consequence of making market. As you say they discuss levels and open positions for big players and it is often...

Please shout this on the roof tops "No one is after your puny lots, just access the risks, place your bets and hope you are on the right side of the market at this particular time"

R2R said it well all our trades are gambles, the traders with the biggest "cohunes" rake in the money.
Let it turn and find your entry.
  • #731
  • Oct 10, 2013 5:25am Oct 10, 2013 5:25am
Quoting cuchuflito
{quote} Rags I find your thread awsome, and thanks for the cool idea.... By the way, coming back to OANDA, (looks like I work for them, but I don´t, they are as good and bad as average brokers who trade against you..) The point is if you trade with them, initiall 50 $ you can have many more loosing trades than with lots or micro lots...you just keep going down till literally 1 cent.... You can use them to paper trade too , but with real money, say risking 10 cents per stop loss....it´s no money, but it´s psycologically different than trading with...
Many more loosing trades live is a clear indication that your psychology needs working on, I turned $237 to $3190 in 3 weeks in Demo but blew my first Live account in less than 1 week.
Don't blame the broker, look within and see the mistakes you have made that set you back

I wonder how a broker will trade against you when you are trading in the direction of the market following a major news release, or following the market momentum, how much would they be risking to pursue your 20pips SL or maybe you trade with ultra-tight SL?
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Let it turn and find your entry.
  • #732
  • Oct 10, 2013 9:27am Oct 10, 2013 9:27am
Quoting venzen
{quote} it can be deduced that the urban myth about deliberate and systematic stop hunting is indicative of a victim mentality. We traders would blame anyone but ourselves for our failures. The banks are slow, unsophisticated and unorganized. We are fast and agile. But get in the way of the market maker and their customers setting up a large trade and we risk getting tailfinned.
  • #733
  • Edited 12:57pm Oct 10, 2013 12:41pm | Edited 12:57pm
Quoting CindyXXXX
{quote} It's your ego, but everyone has one.. I would never put my real trade explorer up. There's really no need. good trades to you sir
i guess you could say its ego, but its more like, id rather not have newbies lose money following my trades (because they will get in late)
believe me it happens

just the pressure of knowing people are watching my currently floating positions
if i had an option to hide open trades in FF explorer (like most explorers have that option), then i might consider putting it up again
not talking about floating equity, i dont care if people see that.

but..

there is no need for explorer you are right...

although, a lot of people are not very confident in themselves and don't think something is possible unless THEY have seen it with their OWN TWO EYES... a horrible attitude to have in the markets, but especially in life

since this thread is not about showing off

its just a thread for teaching, learning and discussion



id post an explorer for inspiration to others
shutting up haters would just be a bonus

but most people in this thread have been logical and supportive thus far, quite a pleasant suprise.. i thought id be dealing with a lot more shit than i have
Be hopeful in a winning position, and fearful in a losing position.
  • #734
  • Oct 10, 2013 1:20pm Oct 10, 2013 1:20pm
Quoting Rag2RichesFX
{quote} i guess you could say its ego, but its more like, id rather not have newbies lose money following my trades (because they will get in late) believe me it happens just the pressure of knowing people are watching my currently floating positions if i had an option to hide open trades in FF explorer (like most explorers have that option), then i might consider putting it up again but.. there is no need for explorer you are right... although, a lot of people are not very confident in themselves and don't think something is possible unless THEY...
Dude its not about seeing it with your own two eyes, its about having people around who have more than 10.000 postings in this forum, and they keep preaching and preaching but i have never ever see them deliver, so why do this people have to give their opinion to every damn thread.

I know its possible, but every thread there are this big shots who just know how to preach and to collect postings and how to dismiss others, with a different opinion.

i myself trade in a similar way, before you suggested this idea.

I make the same thing with 1:1 R:R, mostly 30 pips Limit / SL, so it needs a little bit more time and trades but if i lose 2 trades, its not over for me, and i always leverage to the max. so margin call is the stop loss at the same time, well it is possible this way to make profits, and its wise to withdraw this profits and start fresh again, and if you make a losing trade - back off get a fresh view and trade again! But 2:1 R:R is just too hard for me personally, i cant find regular entries with lets say 10 Pip Stop and 20 Pip Limit i will get slaughtered so often, 1:1 is so much easier and you can find much more fitting entries - end of story, and i dont wanna start preaching. Good Luck to everyone!
consistency wins
  • #735
  • Oct 10, 2013 11:50pm Oct 10, 2013 11:50pm
Quoting Rag2RichesFX
{quote} i guess you could say its ego, but its more like, id rather not have newbies lose money following my trades (because they will get in late) believe me it happens just the pressure of knowing people are watching my currently floating positions if i had an option to hide open trades in FF explorer (like most explorers have that option), then i might consider putting it up again not talking about floating equity, i dont care if people see that. but.. there is no need for explorer you are right... although, a lot of people are not very confident...
I'm pretty sure a lot of VIEWERS of this thread would have given it a shot at some point but just wont post an explorer for personal reasons. I have nothing against that. But it will be encouraging to see more R2R trade explorers than new replies.

Good luck @spyderman
  • #736
  • Oct 11, 2013 1:17am Oct 11, 2013 1:17am
40 stop - 40 limit.

next step 75k lot for me.
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consistency wins
  • #737
  • Oct 11, 2013 2:06am Oct 11, 2013 2:06am
Quoting Rag2RichesFX
This thread is open for discussion, feel free to ask questions or make observations..
On that note R2R, as you know I have been running a series of tests on the Genesis thread employing various different TF's. The current test, which concludes today, is basing the entries on the M1 TF. So far there has been 19 trades at better than 1:2 risk:reward, and several at a much better rate, even 1:6 or more.

Of course there is more 'noise' on the M1 TF, and it has been especially difficult this week with all the political nonsense going on in Washington, but putting that aside, if one is trading with the immediate trend, it's often possible to gain very favourable R:R ratios.....especially if one is very patient. And you have already mentioned the need for patience in your endeavour

Anyway....the M1 observation is just that...an observation. Hope that's useful to you
Doing what you like is Freedom. Liking what you do is Happiness.
  • #738
  • Oct 11, 2013 7:08am Oct 11, 2013 7:08am
Quoting realjumper
{quote} On that note R2R, as you know I have been running a series of tests on the Genesis thread employing various different TF's. The current test, which concludes today, is basing the entries on the M1 TF. So far there has been 19 trades at better than 1:2 risk:reward, and several at a much better rate, even 1:6 or more. Of course there is more 'noise' on the M1 TF, and it has been especially difficult this week with all the political nonsense going on in Washington, but putting that aside, if one is trading with the immediate trend, it's often...
I have messed with the M1 but still prefer the M5. I've seen 100+ pips from an M5 signal on EA this week

I actually like doing two entries for Genesis. One has 5 pip stop loss and the other 10 pips.

Overtime I'll see which is more profitable and switch to only using 5 or 10.


I use my normal divergence/hidden divergence stuff to snipe the reversal areas.
Then I use Genesis signal as confirmation to increase position size and tighten stops (as Genesis usually provides a good "breakout" type signal)
Its truly an incredible combination!

Genesis is a great tool for timing pyramid positions.
Be hopeful in a winning position, and fearful in a losing position.
  • #739
  • Oct 11, 2013 7:15am Oct 11, 2013 7:15am
Quoting Rag2RichesFX
{quote} I have messed with the M1 but still prefer the M5. I've seen 100+ pips from an M5 signal on EA this week I use my normal divergence/hidden divergence stuff to snipe the reversal areas. Then I use Genesis signal as confirmation to increase position size and tighten up stops (as Genesis usually provides a good "breakout" type signal) Its truly an incredible combination!

Sounds good

I have split my screens for the past 4 weeks and each screen has an M1 chart and an M5 of same currency pair. I don't think I could trade the M1 without seeing the larger picture of the M5.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #740
  • Oct 11, 2013 8:41am Oct 11, 2013 8:41am
FWIW...my explorer is in my sig.

I was down to $4.00. Got it back to $40.00 Had a good trade on the 15 minute E/J Yesterday/last night that went 3:1.
I just need to be more selective.
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