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

  • #41
  • Jan 19, 2014 2:44pm Jan 19, 2014 2:44pm
Quoting Mroue26
My goal is to get 3 successful trades everyday with 10 pips each.. This is NOT IMPOSSIBLE!
Yes it is

It is impossible to get one trade right everyday with one pip. If you could do that you have found the elusive holy grail

Factor in the massive risk your suggesting and the psychological pressure would be such an impairment that you would be lucky to still have an account after one week, let alone a profitable one

Thats what I think about this challenge. You can argue with me all you like and call me negative but you asked for my thoughts. Im sorry that my experience does not equate with yours.

I would love to be proven wrong though. When are you going to start your challenge? will you provide a trade explorer for us all to wonder in amazement at?

now that would be something
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  • #42
  • Jan 19, 2014 4:35pm Jan 19, 2014 4:35pm
Quoting M.A.C.Doug
{quote} Yes it is It is impossible to get one trade right everyday with one pip. If you could do that you have found the elusive holy grail Factor in the massive risk your suggesting and the psychological pressure would be such an impairment that you would be lucky to still have an account after one week, let alone a profitable one Thats what I think about this challenge. You can argue with me all you like and call me negative but you asked for my thoughts. Im sorry that my experience does not equate with yours. I would love to be proven wrong though....
Hahahahha.. Impossible to have a successful trade every day with 1 pip?? Lol ok as u wish.. I wonder wheres my 50 pips everyday are coming from! And pleaaase psycological pressure? I guess u have no good experience in forex and u get a breakdown when u lose 5 dollars .. Ill keep u all posted, just for haters..cut the crap ive been trading for ages and i guess no 1 of those haters have won 4000$ in 5 MINUTES before.. Or in a year i suppose .. Challenge starts on the first of February.
  • #43
  • Jan 19, 2014 5:08pm Jan 19, 2014 5:08pm
Inserted Video
  • #44
  • Jan 19, 2014 5:42pm Jan 19, 2014 5:42pm
Quoting PoundTrader
http://www.youtube.com/watch?feature...&v=6-BJG5pXAHM
thank you so much for this video.. but actually thats not what im doing, i dont know who got my idea, im doubling the lot size each month when the balance is doubled as well, so when im at 24000 balance and trading with 4 lots its the same thing as 0.5 lots to 3000 balance! i trade with no SL and have a margin of 600 pips to go both ways after all i will get my 10 pips no matter what bcz im not trading ahead of news, i use several indicators combination that works like magic to know when the perfect time to enter a trade, that takes down almost -80% chance of getting in loss.. i dont know about you guys who just say its impossible.. what i think is possible is what i tested a live account last wednesday with only 200$ and by friday it was 485! when u see history u only see
10$
12$
10$
10$
10$
10$
10$
... and so on
Thats how i roll
  • #45
  • Jan 19, 2014 5:48pm Jan 19, 2014 5:48pm
Quoting Davit
{quote} I am using it rather successfully.MY goal is modest 5% + (so far hitting it above 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. Ironically to get better in trading requires reading lot of things not directly related to trading.Mechanics of trading is simple making it profitable is...
Hi Davit,

Agree with you - businesses need to have goals. In trading, personally I believe, the goal is consistent profitability. Once you've achieved this then through continuous improvement you increase the return on your of equity.

I may have been a little harsh on Mroue26 but I can think of a number of scenarios where trading without a stop loss can wipe out all the hard work she/he has done:

  1. telecommunications failure e.g. someone didn't do the right planning before they started some earthworks and cut straight through your phone line.
  2. power failure - similar problem
  3. broker's has similar problems as the 2 above
  4. you have a critical hardware failure (and your backup if you have one isn't working)
  5. a flash crash - as small traders we suffer a massive information asymmetry.
  6. act of terrorism - hope this doesn't happen again.
  7. other unforeseen market moving event

For the optimists - yes you have a naive 50% chance of being on the right side of the disaster. Whilst a covering order isn't an iron clad guarantee that you will get that price your broker is oblige to give the next best print e.g. if your covering order is gapped over.

Do I believe Mroue26's goal is possible - definitely.
Do I believe Mroue26 has a higher chance of blowing up without risk management - definitely.

Its really awesome your achieving and beating your monthly targets.

Regards,

ninety47

  • #46
  • Jan 19, 2014 5:55pm Jan 19, 2014 5:55pm
Quoting Mroue26
{quote}what i think is possible is what i tested a live account last wednesday with only 200$ and by friday it was 485!
Yes sure 1 day of testing live is enough ... GO GO GO !

Again, without a SL you will lose all your money soon or later. You have absolutely no guarantee that your 600pips "security" will be enough ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #47
  • Jan 19, 2014 6:17pm Jan 19, 2014 6:17pm
Quoting FerruFx
{quote} Yes sure 1 day of testing live is enough ... GO GO GO ! Again, without a SL you will lose all your money soon or later. You have absolutely no guarantee that your 600pips "security" will be enough ...

Not another no SL user, what is it with the growing interesting in trading with 100% risk!!

My prediction is, it'll look like he's doing really well and on target, then 1 day he'll get on the wrong side of a 600pip move and Margin Call it is


Damn shame!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #48
  • Jan 19, 2014 6:19pm Jan 19, 2014 6:19pm
Quoting Turveyd
{quote} Not another no SL user, what is it with the growing interesting in trading with 100% risk!! My prediction is, it'll look like he's doing really well and on target, then 1 day he'll get on the wrong side of a 600pip move and Margin Call it is Damn shame!!
Like always. The result is previsible ... and always the same.
MT4/MT5 EAs/Indicators/Alerts coder
  • #49
  • Jan 19, 2014 6:21pm Jan 19, 2014 6:21pm
if you don't have an edge .. you will not reach your dreams !
  • #50
  • Jan 19, 2014 6:23pm Jan 19, 2014 6:23pm
Quoting FerruFx
{quote} Like always. The result is previsible ... and always the same.

And I bet we have the same person to blame for most of these no SL people

Interestingly the same person that wants me banned for teaching people to trade badly, not that I teach people.


Better not mention his name, it'll restart a WAR!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #51
  • Jan 19, 2014 6:36pm Jan 19, 2014 6:36pm
Quoting Turveyd
{quote} Not another no SL user, what is it with the growing interesting in trading with 100% risk!! My prediction is, it'll look like he's doing really well and on target, then 1 day he'll get on the wrong side of a 600pip move and Margin Call it is Damn shame!!
i knew a guy who won a lawsuit and got 25k, traded forex and took 25k to 50k in 1 month then lost it all in the 2nd month trading with no s/l he kept his position open hoping it will turn around but it didnt
  • #52
  • Jan 19, 2014 6:41pm Jan 19, 2014 6:41pm
Quoting PoundTrader
{quote} i knew a guy who won a lawsuit and got 25k, traded forex and took 25k to 50k in 1 month then lost it all in the 2nd month trading with no s/l he kept his position open hoping it will turn around but it didnt
My fake ex b#tch GF ( pretended to be for 11months to take my money ) the money grabbing hoar, ran $100 into $600 in no time, thought she'd cracked it then straight back to margin call, unable to take a loss = DEATH always!!

Not that I'm bitter MUCH!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #53
  • Jan 19, 2014 6:44pm Jan 19, 2014 6:44pm
Quoting PoundTrader
{quote}... he kept his position open hoping it will turn around but it didnt
Hope is the best killer in trading ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #54
  • Jan 19, 2014 7:03pm Jan 19, 2014 7:03pm
Quoting FerruFx
{quote} Hope is the best killer in trading ...
  • #55
  • Jan 19, 2014 8:02pm Jan 19, 2014 8:02pm
Quoting Turveyd
{quote} My fake ex b#tch GF ( pretended to be for 11months to take my money ) the money grabbing hoar, ran $100 into $600 in no time, thought she'd cracked it then straight back to margin call, unable to take a loss = DEATH always!! Not that I'm bitter MUCH!!!
Thats funny, was it your money she lost?

Maybe you should have taught her that there is no such thing as a no-los system.

Even if some guys try it so hard with NO-SL set, its just futile.

But still a clever trader can minimize his losses, and his winning will be more frequent or bigger than their losses and that will keep the trader satisfied.
"There's a sucker born every minute" - P.T. Barnum
  • #56
  • Jan 19, 2014 8:11pm Jan 19, 2014 8:11pm
Quoting Mroue26
{quote} thank you so much for this video.. but actually thats not what im doing, i dont know who got my idea, im doubling the lot size each month when the balance is doubled as well,
Isnt that too rough?

Double every month? What if you dont make it to gain profit, then you double the losses?

I think its much more effective to increment the lot size in parralel with the account growth.

And for this you must resize the lot size according to the risk % of the capital.

Not only you can make more money by this, because you take advantage of the balance increase, but you also lose less cash, as you avoid doubling when its not necessary.

What do you think?
"There's a sucker born every minute" - P.T. Barnum
  • #57
  • Jan 20, 2014 1:32am Jan 20, 2014 1:32am
Quoting Proximus
{quote} Thats funny, was it your money she lost? Maybe you should have taught her that there is no such thing as a no-los system. Even if some guys try it so hard with NO-SL set, its just futile. But still a clever trader can minimize his losses, and his winning will be more frequent or bigger than their losses and that will keep the trader satisfied.
Ofcourse, cost me £7000 approx not 1 peck on the lips, used to post here to.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58
  • Edited 2:03am Jan 20, 2014 1:50am | Edited 2:03am
Quoting Turveyd
{quote} Ofcourse, cost me £7000 approx not 1 peck on the lips, used to post here to.
So you're saying she was your GF for 11 months you gave her 7000 pounds and not a peck on the lips? What stands for 'GF' then?? Greater Fool?

Are you sure she's a
Quoting Turveyd
grabbing hoar
Not a whore?...
The single most important factor is having control of your own life.
  • #59
  • Jan 20, 2014 2:43am Jan 20, 2014 2:43am
I have played without SL for nearly 2 years. Only rarely i have SL.

For some SL is just limiting, not useful when you have a very good mental stop. Not every bad is bad and not everything good is good. But for high risk trades like this, its useful to have SL, even if far apart.
  • #60
  • Jan 20, 2014 3:41am Jan 20, 2014 3:41am
Quoting Mikkk01
{quote} So you're saying she was your GF for 11 months you gave her 7000 pounds and not a peck on the lips? What stands for 'GF' then?? Greater Fool? Are you sure she's a {quote} Not a whore?...
She was 1 of my best mates for 3.5years before fake going out with me, obviously fake to, so i trusted her and the plans to have a baby.


She was ill and i was waiting for her to get better, also lies.


Woman!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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