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

  • #1,421
  • Jan 17, 2014 7:30am Jan 17, 2014 7:30am
Hi FXEmpire,I hope you had a good week.Do you think you might in the future start a auto trading service? regards.
  • #1,422
  • Jan 17, 2014 9:04am Jan 17, 2014 9:04am
Quoting pooch46
Hi FXEmpire,I hope you had a good week.Do you think you might in the future start a auto trading service? regards.
... this thread is just for playing with small money and high risk ... Not a great idea to follow any of the methods used by the followers.
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,423
  • Jan 17, 2014 9:22am Jan 17, 2014 9:22am
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting FXEmpire
{quote}I thought it be something fun along side almighty boring trading lol.
.......
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #1,424
  • Jan 17, 2014 10:43am Jan 17, 2014 10:43am
Quoting pooch46
Hi FXEmpire,I hope you had a good week.Do you think you might in the future start a auto trading service? regards.

yep... send over 10k just for a start..
lol
Passion, Persist, Patience, Protect
  • #1,425
  • Jan 17, 2014 10:46am Jan 17, 2014 10:46am
lol.so thats a big fat......NO..lol.thanks for the reply though.
  • #1,426
  • Jan 17, 2014 10:47am Jan 17, 2014 10:47am
Quoting FXEmpire
Trade #4, short of CHF/JPY 115.157
Closed this one for +53 about 50% gain, it had possibly potential for more, but next week. I rather take the profit now and look for better ones next week. It was a tough week for me to extend this account as the trades I choose for here became grinders.
overall account is 100+% and the fun challenge still alive.
Passion, Persist, Patience, Protect
  • #1,427
  • Jan 17, 2014 10:52am Jan 17, 2014 10:52am
Quoting FerruFx
{quote} ... this thread is just for playing with small money and high risk ... Not a great idea to follow any of the methods used by the followers.
Its amazing how people just simply don't get it and it's more amazing that FF allows the first post as such to pass through their screening.
Passion, Persist, Patience, Protect
  • #1,428
  • Jan 17, 2014 10:55am Jan 17, 2014 10:55am
Quoting FXEmpire
{quote} Closed this one for +53 about 50% gain, it had possibly potential for more, but next week. I rather take the profit now and look for better ones next week. It was a tough week for me to extend this account as the trades I choose for here became grinders. overall account is 100+% and the fun challenge still alive.

Nice job!
  • #1,429
  • Jan 17, 2014 11:16am Jan 17, 2014 11:16am
Fellows, this is like a poker tournament, you buy in for some money that you don't care to lose, and then sit in to have fun by trying your luck with some skill involved to make the final table or win the whole thing.. that's all it is. You still have your day job and this is something fun along the side if you choose too.
If and when one of us happens to get this done or any close to it.. it don't mean shit. it don't mean he/she is the greatest trader in the world.. it don't mean he/she can duplicated again or more often.. it don't for sure mean he/she could teach you to do it.

look who are winning the world series of poker.. almost all no namers.. and none of them can even make the top 100 the following tries.
starting small and risking high is no different than poker tornys.

maybe this lights a bulb once for all.
Passion, Persist, Patience, Protect
  • #1,430
  • Jan 17, 2014 11:19am Jan 17, 2014 11:19am
Quoting Pipocrates
{quote} Nice job!

thx
Passion, Persist, Patience, Protect
  • #1,431
  • Jan 17, 2014 2:53pm Jan 17, 2014 2:53pm
I have lurked on FF for years and I must say this thread and the auction theory thread have literally changed my whole outlook on what can e done with forex and a MM plan and I will explain what this thread in particular has done for me.



Firstly I must say to anyone with dollar signs dancing in their heads Please STOP right now if you dont already have a solid foundation of a trading system. And by that I mean you have already gone through the learning process and have made trading your own. This means you know exactly why you make a trade, you have a system you have not copied or if you have copied you have tailored to fit your trading style. If you think you can just risk 50% in this manner without a plan you WILL lose in the end. Of course this has already been said.



Now with that out of the way.............For some reason this thread really struck a cord. I am a pretty good technical trader and I can see trades pretty well before they happen. I have learned there are a lot of traders just like me, they know exactly what forex is about, they understand price action and such but a host of obstacles prohibits them from success. Namely, greed, fear and impatience. I am amazed at how many good traders never will be profitable for those factors. I am at least for now among those who have not made a profit overall yet and I have been trading for years. I am good enough to make big bucks only to lose it all back because of one of those 3 factors. I have become much better now though and I rarely lose in succession like I used to. The errors of greed, fear and panic have become less just by understanding that one must take what the market gives you and not to EVER get over confident.



So what does that have to do with this thread? Well I decided to try the method out. I trade binary options and I took $100 to $800 in one week. I was patient and I waited for my setups which are momentum based and then I would take the trade. Overconfidence came in and I disregarded the rules and I wiped the account out.

I tried again and the next week I took another $100 and turned it into $800. I thought to my self if I had just been patient I would have been at Tier 7 getting ready for tier 8. Instead I again got greedy and lost most of the 800 but this time I have 200 left.



What I am trying to say is this idea of the thread starter is very possible. It is fear, greed and impatience that will stop us from achieving it. I know for a fact I can do this. Once I got to 800 I saw the light at the end of the tunnel and panicked and tried to get it too fast. If I had not done so I would be about 2 trades away from taking 100 to 50k all thanks to this thread. I have nothing to gain from saying any of this. I am being real as possible. If you don't have a solid plan you will without a doubt fail in this attempt. If you are a solid trader with a proven plan this is very possible but also very hard. After the 4th tier each time for me psychology played a factor. I am steadfast now in following the MM to the letter and I will wait for my setup and only my setup and I wont take poor trades. When I have gotten to tier 8 I will prove it has been done. Just have hope and keep trying.

  • #1,432
  • Jan 17, 2014 5:52pm Jan 17, 2014 5:52pm
Quoting Trendzalore
I have lurked on FF for years and I must say this thread and the auction theory thread have literally changed my whole outlook on what can e done with forex and a MM plan and I will explain what this thread in particular has done for me. Firstly I must say to anyone with dollar signs dancing in their heads Please STOP right now if you dont already have a solid foundation of a trading system. And by that I mean you have already gone through the learning process and have made trading your own. This means you know exactly why you make a trade, you...
You did understood exactly what this thread is about

BTW, great post.
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,433
  • Jan 17, 2014 9:58pm Jan 17, 2014 9:58pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting FXEmpire
Fellows.
Well you had me because you appeared as a backer or supporter and I was with you all the way up to this post...... but now..............


Quoting Trendzalore
this thread and the auction theory thread have literally changed my whole outlook on what can be done with forex and a MM plan.
Yes Mr. Zalore! I see you and I am with you for you are on the path towards which you seek.....

keep up the great perception and you'll surely be on your way towards that place you may want to

be whatever and wherever that may be .....may peace skill and wit shower and overflow upon you on

your journey continuously brotha!......
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #1,434
  • Jan 17, 2014 10:08pm Jan 17, 2014 10:08pm
Quoting FXEmpire
starting small and risking high is no different than poker tornys.
Not even close...
The single most important factor is having control of your own life.
  • #1,435
  • Jan 18, 2014 1:59am Jan 18, 2014 1:59am
mik and owl.. I appreciate your supports.. I am a backer of this whole thing but with one difference and that is..
I don't believe this could be done with a tight stops, that's all.
This market is tough to make profit as it is.. but to stack more odds against yourself by using a tight stops when risking high it would make it almost impossible to turn a 100 buck to 50k.. hence "almost impossible".. that means it is possible but must fall into some lucky ride.

however this is doable as I have said before and supported this thread.. I am also active in actually doing it sort of my way with larger stops as I believe is the most reliable realistic way to get it accomplished.
overall it's all about actually taking up on the challenge and doing it instead of supporting it and only talk about it with no offense to anyone.. it all comes down to action folks. However that one can turn a small sum into a huge sum lets say in a year time is still good enough.
If I you or anyone else say it's doable or not doable is all just talk.. we won't really know or could really fully stand behind our words unless there is action to support it.. then and only then we know. I think this is the more logical way to look at it.
Passion, Persist, Patience, Protect
  • #1,436
  • Edited 3:19am Jan 18, 2014 2:49am | Edited 3:19am
Quoting FXEmpire
that means it is possible but must fall into some lucky ride
We're not looking for luck here. It's just MM. You gotta apply it to your system which meets criteria in post #1. Don't see any mention remotely close to 'lucky ride' there. It will only be luck if you catch a winning streak on the spot and rake the dough...
Quoting FXEmpire
overall it's all about actually taking up on the challenge and doing it instead of supporting it and only talk about it
I never claimed anything here of which there's no proof. Just never really thought about stuff like this - got interested and dropped a couple of posts which make perfect sense. I repeat - I didn't try it and have other method running now but neither I said anything which would be amiss here...
The single most important factor is having control of your own life.
  • #1,437
  • Jan 20, 2014 4:28am Jan 20, 2014 4:28am
Great idea ! totally agree itīs doable and should be tried as a side account ...wil try it and post my results (TE) if some success in the future ..will try with 100€ , max loss 1000 €...i think itīs a very long term goal reaching +100k (1-3 years), and in my case it implies taking very few trades (5 to 10 per month i will say) and will follow attached doc, regarding withdraw, if i had success
Attached File(s)
File Type: pdf rags to riches.pdf   4 KB | 1,182 downloads
  • #1,438
  • Jan 22, 2014 5:08am Jan 22, 2014 5:08am
Τhis is my first post on ff.

I am going to do the r2r idea by trading on high time frames. It cuts down the market noise plus trades aiming for 100 or 200 pips have a much better probability than trades with 500:1 leverage aiming for 20 pips

Doing it with 1:2 rr can make it really possible. I wouldn't try it with a higher rr.

I am going to try it with multiple accounts in multiple brokers playing with no deposit bonuses. I will wait for trades where I might risk 50 pips to make a hundred with a 100:1 leverage or risk a 100 pips with 50:1 to make 200 pips.

If I make it I might trade only like that. I am even considering doing trades for 1000 pips with 10:1 risking 500 pips.

That makes me greedy but in a smarter way (I think).

Going longer term on that can make it really viable. Btw if you search on etoro's openbook there are various traders who do that. They get in they do some fast trades an they withdraw after they gain 100.000% or even more (have seen 18.000.000 gain graph). Go and see it for yourselves. And there are many dudes who have done it and in small time frames with fast trades and they succeeded fast.
  • #1,439
  • Jan 22, 2014 5:33am Jan 22, 2014 5:33am
Quoting Gaggelos
Τhis is my first post on ff. I am going to do the r2r idea by trading on high time frames. It cuts down the market noise plus trades aiming for 100 or 200 pips have a much better probability than trades with 500:1 leverage aiming for 20 pips Doing it with 1:2 rr can make it really possible. I wouldn't try it with a higher rr. I am going to try it with multiple accounts in multiple brokers playing with no deposit bonuses. I will wait for trades where I might risk 50 pips to make a hundred with a 100:1 leverage or risk a 100 pips with 50:1 to...
Only one question: are you consistently profitable?
The single most important factor is having control of your own life.
  • #1,440
  • Jan 22, 2014 5:41am Jan 22, 2014 5:41am
Quoting Mikkk01
{quote} Only one question: are you consistently profitable?
I am a newbie. I am going to do it by reading analysis, watching medium and long term traders on social trading networks and their positions and I will open the positions that are most likely to succeed.

Looking for a 200 pip trade gives you better probabilities than looking for a 20 or 30 pip trade.
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