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

  • #741
  • Oct 11, 2013 9:50am Oct 11, 2013 9:50am
Quoting spyderman
I was down to $4.00. Got it back to $40.00
Great job!
MT4/MT5 EAs/Indicators/Alerts coder
  • #742
  • Oct 12, 2013 1:49am Oct 12, 2013 1:49am
Quoting spyderman
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.
Yes patience is the key! Only 3 trades a month for 1 year and you could achieve about 20 winners and 10 losses in that time (100,000% gain)

Just redid the chart setup for each pair. Here is what it looks like now. Every now and then I like to change it up.
Attached Image (click to enlarge)
Click to Enlarge Name: jamesmusser.png Size: 66 KB
Be hopeful in a winning position, and fearful in a losing position.
  • #743
  • Oct 12, 2013 4:58am Oct 12, 2013 4:58am
Quoting spyderman
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.

It's normal spyderman, i started too a micro account with XM wich offers 888:1 leverage with 50 € , i was up to +100% but i took more trades to reach that point then went back to +2% (1 bad trade), it should require a lot of patience to pick the right trade and more difficult is to stay in the trade until tp is reached (i closed earlier my prevous trades). Btw i'm happy that I didn't blown yet the 50€

Cheers,
Skyline
  • #744
  • Oct 12, 2013 6:05pm Oct 12, 2013 6:05pm
Do I have a treat for you guys! Yes!

Look for it in about an hour.
Be hopeful in a winning position, and fearful in a losing position.
  • #745
  • Edited 7:05pm Oct 12, 2013 6:37pm | Edited 7:05pm
I don't think I've ever given anyone this kind of a glimpse into my "trading style".


This thread is about the money management strategy, however, I have seen some people asking for examples of what this might look like.

I prefer the 16 s/l and 32 t/p setup, but I also use the 32 s/l and 64 t/p setup just in case I get stopped out on the 16. However, 64 t/p isn't always reached, but if 32 t/p is reached, then I will move 64 s/l to BE.

Over time I will be able to see what is most effective. Only been trying this since a few weeks before I created this thread.


This chart is showing how it is POSSIBLE to make 200,000% gain ($50 to $100,000) in less than 1 week of trading.

Now if this doesn't motivate you, I don't know what will!


Remember, 1 loss simply means you go back to using the same size as you did on your last winning trade.
--------------------------------------------------------------------------------------------------------
Attached Image (click to enlarge)
Click to Enlarge Name: Rag2Richesmastered.png Size: 125 KB
Be hopeful in a winning position, and fearful in a losing position.
  • #746
  • Oct 12, 2013 8:13pm Oct 12, 2013 8:13pm
Thank you very much for sharing this information. I look forward to reading the thread this weekend from start to finish so I can get caught up to speed. I'm looking to continue to improve my trading. I'm trying to learn to be more patient in my trading and also to have my reward to risk be at lest 2:1.

Once again, thanks for sharing as I'm sure there are many traders like myself that can benefit from this information.
  • #747
  • Oct 13, 2013 3:17pm Oct 13, 2013 3:17pm
Quoting Rag2RichesFX
I don't think I've ever given anyone this kind of a glimpse into my "trading style". This thread is about the money management strategy, however, I have seen some people asking for examples of what this might look like. I prefer the 16 s/l and 32 t/p setup, but I also use the 32 s/l and 64 t/p setup just in case I get stopped out on the 16. However, 64 t/p isn't always reached, but if 32 t/p is reached, then I will move 64 s/l to BE. Over time I will be able to see what is most effective. Only been trying this since a few weeks before I created...
great job mate, im still amazed. did you actually make this much money last week?
Price Is The Best Indicator Itself.
  • #748
  • Oct 14, 2013 6:13am Oct 14, 2013 6:13am
Here is another example of excellent trading style

Quote from somewhere else, Google if you interested, I'm sure you could find it

Silent Specialist is a manual trader from Russia who has developed a very aggressive technical based grid strategy. He's been trading full time for over 4 years and boasts the amazing feat of turning $300 into $600,000 between 2011 and 2013
Attached Image (click to enlarge)
Click to Enlarge Name: 14-10-2013 9-08-11 PM.png Size: 531 KB
It takes a lot for me to IGNORE you, but you can try.
  • #749
  • Oct 14, 2013 6:15am Oct 14, 2013 6:15am
Quoting Redddz
{quote} great job mate, im still amazed. did you actually make this much money last week?
Look at the chart, do you really think he stayed up for 3 days straight and was able to function enough to trade like that?

It takes a lot for me to IGNORE you, but you can try.
  • #750
  • Oct 14, 2013 12:27pm Oct 14, 2013 12:27pm
Quoting Erebus
{quote} Look at the chart, do you really think he stayed up for 3 days straight and was able to function enough to trade like that?
yeah i figured that out but its possible for sure
Price Is The Best Indicator Itself.
  • #751
  • Oct 14, 2013 12:32pm Oct 14, 2013 12:32pm
Quoting Rag2RichesFX
Remember, 1 loss simply means you go back to using the same size as you did on your last winning trade.
Multiple / consecutive losses destroy your motivation and your account.
  • #752
  • Oct 14, 2013 3:26pm Oct 14, 2013 3:26pm
Quoting openyoureyes
{quote} Multiple / consecutive losses destroy your motivation and your account.
Multiple / consecutive losses means you are a bad trader. IT IS REALLY THAT SIMPLE. Why?

Because winning traders WIN more than they LOSE (or slightly less, with a very very high risk reward). So IF YOU ARE a winning trader, EVENTUALLY, this system will workout for you.

Honestly can you win 31 out of 50 trades? If you can then you can do this. You can make a 200,000% gain.


Its all there in the chart. Open your eyes.

I'm done trying to show how simple this is from a technical standpoint.

I couldn't show better than that last chart anyway.


If losses destroy your motivation, you need to strengthen your psychology. You need to be so confident in yourself and your system that, losses don't impact your emotions/confidence negatively, and wins dont impact your emotions/confidence positively.

Now we will always feel the initial reactions. It's how we carry on with our actions an hour after the trade happened, that actually make a trader good.

It's funny that we always dwell on our losses for days, but only give our winners a few minutes of pleasure.

Why not try reversing that?
Be hopeful in a winning position, and fearful in a losing position.
  • #753
  • Edited 3:40pm Oct 14, 2013 3:27pm | Edited 3:40pm
Quoting Redddz
{quote} great job mate, im still amazed. did you actually make this much money last week?
of course not. i dont even have 100k to trade with

im still "rags" myself (well, compared to big traders anyway)

i was just showing that with the proper technical skill, you can do this as fast as you want to do it (that example was $50 to $100,000 in 4 trading days

i did catch two of those entries last week though. one is the entry that says 1.20 lots and the other was the trade right after it, that says 2.40 lots
Be hopeful in a winning position, and fearful in a losing position.
  • #754
  • Oct 14, 2013 3:48pm Oct 14, 2013 3:48pm
Quoting Erebus
Here is another example of excellent trading style Quote from somewhere else, Google if you interested, I'm sure you could find it Silent Specialist is a manual trader from Russia who has developed a very aggressive technical based grid strategy. He's been trading full time for over 4 years and boasts the amazing feat of turning $300 into $600,000 between 2011 and 2013 {image}
Yes I also have a grid strategy for "small but aggressive gains".

10% a week for 2 years is a 1 million % return.

$1000 to $10,000,000

As you can see, he has done year 1 in 3 months (10,000%)

This kind of trading is difficult. You need to be at the screen 50+ hours a week most likely (catching lots of swings)
Be hopeful in a winning position, and fearful in a losing position.
  • #755
  • Oct 15, 2013 12:08am Oct 15, 2013 12:08am
Quoting Rag2RichesFX
{quote} of course not. i dont even have 100k to trade with im still "rags" myself (well, compared to big traders anyway) i was just showing that with the proper technical skill, you can do this as fast as you want to do it (that example was $50 to $100,000 in 4 trading days i did catch two of those entries last week though. one is the entry that says 1.20 lots and the other was the trade right after it, that says 2.40 lots
thats still cool well i believe its possible to make this uch money bc i did make it to 8k to 75k in 3 months but blew it in last bernanke speech
Price Is The Best Indicator Itself.
  • #756
  • Oct 15, 2013 3:02am Oct 15, 2013 3:02am
Quoting Redddz
{quote} thats still cool well i believe its possible to make this uch money bc i did make it to 8k to 75k in 3 months but blew it in last bernanke speech
No wonder, Bernie owns the shop...read from a "Big Boy" somewhere, how Forex is a chain of interelated brokers, small to big, and the Fed, which is a private Bank, is at the top...
I´m testing a strategy of pending orders at stop loss levels, and fibos beyond...(fibo extensions)...the idea is the big boys, buy and sell against the retailers,accumulating positions ...wish me luck...
  • #757
  • Oct 15, 2013 5:29am Oct 15, 2013 5:29am
Quoting cuchuflito
{quote} No wonder, Bernie owns the shop...read from a "Big Boy" somewhere, how Forex is a chain of interelated brokers, small to big, and the Fed, which is a private Bank, is at the top... I´m testing a strategy of pending orders at stop loss levels, and fibos beyond...(fibo extensions)...the idea is the big boys, buy and sell against the retailers,accumulating positions ...wish me luck...
good luck
Price Is The Best Indicator Itself.
  • #758
  • Edited 12:14pm Oct 15, 2013 11:49am | Edited 12:14pm
Just contributing to this thread in small way.

Jesse Livermore one of all time best traders took 25k to 112k in 3weeks
proceeded to built the account to millions.
His technique was simple
If the 1st trade was successful instead of getting out he did move SL to protect profits then inject 2nd batch of trades on the same move if successful repeat.
Essentially he was riding the trend in pyramiding style only difference and crucial one 1st trade must be positive.Only adding to positive not negative.

Closest concept at FF is the thread Building an equity millipede which to me is the best thing here and rather under the radar.

People must realize that at some point one must take a risk greater then 2-5% in order to advance unless your account is already 50k +
I sometimes go as much as 20% a trade.
When you read about successful traders one thing always is common.They took a large risk at some point in their career
for example
Bruce Kovner (a billionaire trader)
Kovner's first trade was in 1977 for $3,000, borrowed against his MasterCard, in soybean futures contracts. Realizing growth to $40,000, he then watched the contract drop to $23,000 before selling.

Not saying go do foolish things but saying without sizable risk you have very little chance to grow...
I threw away lot of myths, diversification and crap like that.Fact is if you get on the right direction on 1 pair but compound progressively to trend's exhaustion then that's equal to 1000 diversified trades.

This is why I like Rag2's idea of limited trades Quality vs quantity.
In trading, you have to be defensive and aggressive at the same time
  • #759
  • Oct 15, 2013 11:50am Oct 15, 2013 11:50am
Quoting Rag2RichesFX
I don't think I've ever given anyone this kind of a glimpse into my "trading style". This thread is about the money management strategy, however, I have seen some people asking for examples of what this might look like. I prefer the 16 s/l and 32 t/p setup, but I also use the 32 s/l and 64 t/p setup just in case I get stopped out on the 16. However, 64 t/p isn't always reached, but if 32 t/p is reached, then I will move 64 s/l to BE. Over time I will be able to see what is most effective. Only been trying this since a few weeks before I created...
Hi Rag,

Did you do all those trades mentioned in the chart?
I mean did you enter, yourself, in all those positions?

Because that was in a very small period of time...If you did it's amazing.
  • #760
  • Oct 15, 2013 1:52pm Oct 15, 2013 1:52pm
Quoting FxMachina
{quote} Hi Rag, Did you do all those trades mentioned in the chart? I mean did you enter, yourself, in all those positions? Because that was in a very small period of time...If you did it's amazing.

Did you miss this?

  1. http://assets.forexfactory.net/nfs/c...ar272300_8.gif
  2. Rag2RichesFX
    | Status: Bubbles are inevitable



Quoting Redddz
{quote} great job mate, im still amazed. did you actually make this much money last week?


of course not. i dont even have 100k to trade with

im still "rags" myself (well, compared to big traders anyway)

i was just showing that with the proper technical skill, you can do this as fast as you want to do it (that example was $50 to $100,000 in 4 trading days

i did catch two of those entries last week though. one is the entry that says 1.20 lots and the other was the trade right after it, that says 2.40 lots

Let it turn and find your entry.
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