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$200,000 in 6 Months? What do you think about this challenge?

  • #21
  • Jan 19, 2014 2:33am Jan 19, 2014 2:33am
Quoting Davit
{quote} I am using it rather successfully.MY goal is modest 5% + a month.Everyone must have a goal.Businesses have targets to reach and your mind focuses more when you have a goal. Problem with this thread is unreasonable expectation.Set on realistic target and everything is changed. read about Psycho-Cybernetics and you will see everything from different perspective.
Yes like you said, the problem isn't to have a goal ... but to have unrealistic goal.
MT4/MT5 EAs/Indicators/Alerts coder
  • #22
  • Jan 19, 2014 2:41am Jan 19, 2014 2:41am
Quoting FerruFx
{quote} Yes like you said, the problem isn't to have a goal ... but to have unrealistic goal.
Sadly the author is a victim of forex marketing BS so prevalent now.I know with that kind of outlook he won't last long in trading.Markets will chew him apart,strip him naked from his money and imaginary dreams and crash him into depression so deep border on suicide then he might see the light....
In trading, you have to be defensive and aggressive at the same time
  • #23
  • Jan 19, 2014 2:46am Jan 19, 2014 2:46am
Ok guys, here is another way to work it out you have roughly 260 trading days in 1 year. Start with $100 and aim at earning 3% per day each day for those 260 days. Sounds fairly easy 3 % is nothing right?

So lets see how it would work out!


Day
Earnings
Principal
1
$3.00
$103.00
2
$3.09
$106.09
3
$3.18
$109.27
4
$3.28
$112.55
5
$3.38
$115.93
6
$3.48
$119.41
7
$3.58
$122.99
8
$3.69
$126.68
9
$3.80
$130.48
10
$3.91
$134.39

260
$6,337.59
$217,590.57


So there it is for all you mathematicians out there.
Only problem is that its easier said than done especially when you get to the later stages where you are risking greater amounts of money but if you can handle the heat it is doable!
  • #24
  • Jan 19, 2014 3:20am Jan 19, 2014 3:20am


R E S P E C T

Quoting M.A.C.Doug
Silly noob dreams. I think we all start with a %return per month goal and compound it in excel to see how much we are going to make. The market immediately takes our money and continues to do so untill will learn some respect for what we are really dealing with.
SPC * Swollen PocketZ Crew!
  • #25
  • Jan 19, 2014 3:27am Jan 19, 2014 3:27am
Hmmmm

$3000.00 starting capital turned into a over a 6600% return in 6 months

I would ask your trading experience but this question tells me.

Good luck!
  • #26
  • Jan 19, 2014 4:54am Jan 19, 2014 4:54am
Quoting Davit
{quote} Sadly the author is a victim of forex marketing BS so prevalent now.I know with that kind of outlook he won't last long in trading.Markets will chew him apart,strip him naked from his money and imaginary dreams and crash him into depression so deep border on suicide then he might see the light....
He might probably is misguided by that no SL crap promoted by Magix and his followers, but beside that, if you really have a rock solid system, its possible to make even more, but you have to let time for your capital to grow.

If i say to you that you could make 1m$ from 100$ in 1 year would you think that i`m mad? Because just to know, there are guys who made it
"There's a sucker born every minute" - P.T. Barnum
  • #27
  • Edited 6:19am Jan 19, 2014 5:58am | Edited 6:19am
I respect all your negative and positive opinions guys, im not new to forex its the 5th year trading everyday, im not obsessed with percentage and excel sheets, my strategy is returning good profits already and im sure im not driving blind, i spend sleepless nights to get the perfect trade AWAY from market news. I even dont take all trades chances i get . So please everyone stop sayin "Noob dreams".. There is a goal, and im going for it day by day. Already explained it down to each trade/day to focuse on. My goal is to get 3 successful trades everyday with 10 pips each.. This is NOT IMPOSSIBLE!
  • #28
  • Jan 19, 2014 6:03am Jan 19, 2014 6:03am
Quoting Mitchel1
Ok guys, here is another way to work it out you have roughly 260 trading days in 1 year. Start with $100 and aim at earning 3% per day each day for those 260 days. Sounds fairly easy 3 % is nothing right? So lets see how it would work out! Day Earnings Principal 1 $3.00 $103.00 2 $3.09 $106.09 3 $3.18 $109.27 4 $3.28 $112.55 5 $3.38 $115.93 6 $3.48 $119.41 7 $3.58 $122.99 8 $3.69 $126.68 9 $3.80 $130.48 10 $3.91 $134.39 260 $6,337.59 $217,590.57 So there it is for all you mathematicians out there. Only problem is that its easier said than done especially...
with this plan its IMPOSSIBLE and ill show u why.. you are starting with 100$ and lot size is 0.1 so you are using 100% of your balance has no chance to keep going.. im using only 16.6% as a lot size most people didnt yet get the idea . you are taking 3 pips out you didnt count the spread or if theres a commission by broker.. spread is not 0!!! ? i think my way works better
  • #29
  • Jan 19, 2014 6:48am Jan 19, 2014 6:48am
Sadly it takes years to find that edge, then even with a really really good edge ( Mine seriously ), you'll realise your going to be sat in front of your PC / Tablet for many many years BORED BORED and yes BORED did I mention BORED, and I seriously doubt I'll ever get to 100K definately not the Million.


Don't get me wrong, you could make 100K per year, 3 - 5x's your monthly wage maybe which will certainly make me happy, in 12months of account growth's time.


But I'm a spend it while I've got it kinda guy, if you want to save and save and save maybe in 10years you'll get to the 1Mil+, but maybe you'll get hit by a bus in 9years time then money not spent goes badly against my high score!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #30
  • Jan 19, 2014 6:59am Jan 19, 2014 6:59am
Quoting Mroue26
{quote} with this plan its IMPOSSIBLE and ill show u why.. you are starting with 100$ and lot size is 0.1 so you are using 100% of your balance has no chance to keep going.. im using only 16.6% as a lot size most people didnt yet get the idea . you are taking 3 pips out you didnt count the spread or if theres a commission by broker.. spread is not 0!!! ? i think my way works better
I didn't mention spread or how many trades you had to make on each particular day buddy! I simply stated that if you
Quote
"COULD
make a profit of 3% per day on your accumulated capital you will get to that final figure by day 260. Now it could take you 50, 100, 150 or 500 trades per day to get that 3%, wether the spread is 3 or 100 pips doesn't matter as long as the overall profit for the day is 3% of your initial starting balance for that day.
  • #31
  • Jan 19, 2014 7:00am Jan 19, 2014 7:00am
Quoting Mroue26
i had a dream, started a plan, and now its on the way to come true..How to make 200.000$ in 6 months?Starting from 3000$ initial balance..with this plan i could double the balance each month and reach my Goal.Ok, risk is 16.667 % all the way, and the same pips amount needed everyday (30) net without spread count or commissionwith spread included (4 maybe less depends on your broker) that will be around (50) pips a day, will be divided on 5 trades each day only.we have 22 trading days each month. so do the math:3000 x 16.667% = $ 500 (0.5) Lot size...


to drop my 2 cents to this -
... why do you guys always define a deadline for your trading plans ?
If the markets doesn't offer us trading setups that fits our predefined entry/exit rules we can't place a trade at that day.
So if you start to set yourself under pressure to make X-pips a day you start to make -EV trades.
Trading is about to recognize and realize possible profitable trades on and on and on - whenever or whennever the market offers them.

all in all you can make 1.000.000 $ in one single day starting with 10.000 $ or even 1.000 $... this is math, and it is a leveraged casino... nothing is impossible.


good luck.
Jonas
Hero calls followed by margin calls...
  • #32
  • Jan 19, 2014 7:01am Jan 19, 2014 7:01am
Quoting Turveyd
Sadly it takes years to find that edge, then even with a really really good edge ( Mine seriously ), you'll realise your going to be sat in front of your PC / Tablet for many many years BORED BORED and yes BORED did I mention BORED, and I seriously doubt I'll ever get to 100K definately not the Million. Don't get me wrong, you could make 100K per year, 3 - 5x's your monthly wage maybe which will certainly make me happy, in 12months of account growth's time. But I'm a spend it while I've got it kinda guy, if you want to save and save and save maybe...
3000
1) 6000
2) 12000
3) 24000
4) 68000
5) 136000
6) 272000
by the half of the 6th month i will reach my goal.. everymonth you check my progress attached here on this forum and see for ur self
  • #33
  • Jan 19, 2014 7:40am Jan 19, 2014 7:40am
Quoting PhAnTi'
{quote} to drop my 2 cents to this - ... why do you guys always define a deadline for your trading plans ? If the markets doesn't offer us trading setups that fits our predefined entry/exit rules we can't place a trade at that day. So if you start to set yourself under pressure to make X-pips a day you start to make -EV trades. Trading is about to recognize and realize possible profitable trades on and on and on - whenever or whennever the market offers them. all in all you can make 1.000.000 $ in one single day starting with 10.000 $ or even 1.000...
You are absolutely right my friend my suggestion was IF you could make a profit of 3% per day!
As you say you may make more or maybe less but I think that my illustrations is more realistic! I mean 3% of $100 isn't much and not hard to achieve assuming you have the time and patience to trade every day and wait for the perfect setups which unfortunately I don't have. What makes traders come undone is when fear or greed or fear steps in and takes over! As I said it's easy on paper but when you risk real money and especially when you get to the latter stages and you get one or two losers that day and panic sets in that's what makes the plan turn to sh!t...
  • #34
  • Jan 19, 2014 7:54am Jan 19, 2014 7:54am
Quoting Mitchel1
{quote} You are absolutely right my friend my suggestion was IF you could make a profit of 3% per day! As you say you may make more or maybe less but I think that my illustrations is more realistic! I mean 3% of $100 isn't much and not hard to achieve assuming you have the time and patience to trade every day and wait for the perfect setups which unfortunately I don't have. What makes traders come undone is when fear or greed or fear steps in and takes over! As I said it's easy on paper but when you risk real money and especially when you get to...
you think its 3%.. the 3% is the total profit ur saying.. but the risk is 30% and ur using 100% of ur balance in lots, 100$ wouldnt hold with 0.1 for lets say 100 pips in ( - ) for gold or euro or whatever.. but when 3000 balance and start with 0.5 its 16% using of balance in lots not 100 and will hold 6 times your plan.
  • #35
  • Jan 19, 2014 7:56am Jan 19, 2014 7:56am
Quoting Mroue26
{quote} 3000 1) 6000 2) 12000 3) 24000 4) 68000 5) 136000 6) 272000 by the half of the 6th month i will reach my goal.. everymonth you check my progress attached here on this forum and see for ur self

If your GOOD and you trade hard, you can possibly hit the 24K target, then your lot sizes become unmanageable fear and just operationally wise.


But we shall see, just trying to add some realism, I'm on the same party boat as you dude, get rich or die trying.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #36
  • Jan 19, 2014 8:13am Jan 19, 2014 8:13am
Quoting Turveyd
{quote} If your GOOD and you trade hard, you can possibly hit the 24K target, then your lot sizes become unmanageable fear and just operationally wise. But we shall see, just trying to add some realism, I'm on the same party boat as you dude, get rich or die trying.
on the 24k stage the lot size is only 4.0 its not that big.. i lost 30k once i was trading without a plan 10 lots and more per trade and keep losing bcz of fear.. that was 2 years ago and ive learned alot more, 40$ per pip at that level is no big deal
  • #37
  • Jan 19, 2014 8:29am Jan 19, 2014 8:29am
Quoting Mroue26
{quote} on the 24k stage the lot size is only 4.0 its not that big.. i lost 30k once i was trading without a plan 10 lots and more per trade and keep losing bcz of fear.. that was 2 years ago and ive learned alot more, 40$ per pip at that level is no big deal

Fair enough, I expect to top out @$20 per pip, it no longer becomes a % game at that point, it's just Pips = Fixed $'s from then on.


More would be good, but $2 per pip scares me currently
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #38
  • Jan 19, 2014 8:50am Jan 19, 2014 8:50am
This plan requires very high risk trades. These are the type of traders that come and go... unless you will stand up and learn from your mistakes. Even if you make high percentages... the emotional pressure will be higher and higher every trade. You should aim for consistency not how much you will make. Once you are consistent you can start dreaming or waking up.
  • #39
  • Jan 19, 2014 8:51am Jan 19, 2014 8:51am
Hey Brotha or Sista, whichever the case... If you can do it,.. do it. Show us! Prove us all wrong. Maybe that's what we are all trying to do. Maybe we are pushing you to prove us wrong. And if you do, the reward will be double sweet. If you fail... shake it off and try something else. Just preserve capital in whatever you do. You must always live to trade another day. Go get em'!
SPC * Swollen PocketZ Crew!
  • #40
  • Jan 19, 2014 9:01am Jan 19, 2014 9:01am
Quoting JoeNY
Hey Brotha or Sista, whichever the case... If you can do it,.. do it. Show us! Prove us all wrong. Maybe that's what we are all trying to do. Maybe we are pushing you to prove us wrong. And if you do, the reward will be double sweet. If you fail... shake it off and try something else. Just preserve capital in whatever you do. You must always live to trade another day. Go get em'!
Thanks for ur support.
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