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

  • #1,601
  • Edited 7:42pm Nov 3, 2014 7:23pm | Edited 7:42pm
Quoting charvo
and there's one funny paradox that i believe that even the OP didn't get it. Percentage-wise speaking, when a trader has a great trading edge, he/she doesn't need to risk his ass like the thread proposes, because the speed of making money is quite sufficiently high. simply no need to risk like this. a sane trader would raise his bet with a nice method, but not as aggressive as this. but it is totally understandable, ppl 90% like secrete tricks, and hate pouring sweat & blood. {quote}
How could risking some very small starting stakes of $50 or whatever possibly be seen as "risking your ass"?
  • #1,602
  • Nov 3, 2014 8:16pm Nov 3, 2014 8:16pm
Quoting messiah01
{quote} How could risking some very small starting stakes of $50 or whatever possibly be seen as "risking your ass"?
When you get to the point you have 50,000 ... the risk - even if it's from earning - is emotionally bigger !
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,603
  • Nov 3, 2014 10:41pm Nov 3, 2014 10:41pm
Quoting FerruFx
{quote} When you get to the point you have 50,000 ... the risk - even if it's from earning - is emotionally bigger !
If people can overcome this barrier/obstacle/hindrance/drawback then they can have the world.
Striving to Develop & Implement Innovative Ideas
  • #1,604
  • Nov 3, 2014 11:52pm Nov 3, 2014 11:52pm
Quoting New-Pragati
{quote} If people can overcome this barrier/obstacle/hindrance/drawback then they can have the world.
You got the point
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,605
  • Nov 4, 2014 5:20am Nov 4, 2014 5:20am
Quoting FerruFx
{quote} When you get to the point you have 50,000 ... the risk - even if it's from earning - is emotionally bigger !
It's true it wouldn't be psychologically easy, but you have to take the view that you never would've got there without using this MM (so fast), remember that it all started from $50 anyway - and if you lose the trade, you need only one correct trade to get back to the 50,000 step.
  • #1,606
  • Nov 4, 2014 7:01am Nov 4, 2014 7:01am
Quoting messiah01
{quote} It's true it wouldn't be psychologically easy, but you have to take the view that you never would've got there without using this MM (so fast), remember that it all started from $50 anyway - and if you lose the trade, you need only one correct trade to get back to the 50,000 step.
Yes we all know this ... and that's the purpose of this thread ... Play with the market money ... like a gamer play with the casino money.

That should have nothing to do with your "normal" live account which you are trading in a conservative way ... like any reasonable trader
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,607
  • Nov 4, 2014 3:48pm Nov 4, 2014 3:48pm
Quoting messiah01
{quote} It's true it wouldn't be psychologically easy, but you have to take the view that you never would've got there without using this MM (so fast), remember that it all started from $50 anyway - and if you lose the trade, you need only one correct trade to get back to the 50,000 step.
It seems simple. But at least for me every time I get to 2000 I start getting ahead of myself. I guess its because its just play money. Turning 50 into 2000 is not the hard part. Its once you start getting larger amounts, even though the process is the same.
  • #1,608
  • Nov 4, 2014 5:57pm Nov 4, 2014 5:57pm
Quoting Trendzalore
... even though the process is the same.
... even though the process should be the same ... That's the whole difference!

Discipline is lost most of the time at certain level ... when the trader isn't used to trade big amount on his conservative account.
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,609
  • Nov 4, 2014 6:43pm Nov 4, 2014 6:43pm
Quoting FerruFx
{quote} ... even though the process should be the same ... That's the whole difference! Discipline is lost most of the time at certain level ... when the trader isn't used to trade big amount on his conservative account.
Traders dont practice enough....just write a program to generate a sine wave, trade that for 5 minues, add in some random fluctuations and random update speed, and youve got yourself a training program...aka:

showthread.php?t=342202

It may help to create an order processing routine, with a P&L display....if thats how you trade...
  • #1,610
  • Nov 4, 2014 8:12pm Nov 4, 2014 8:12pm
Quoting RickJames300
{quote} Traders dont practice enough....just write a program to generate a sine wave, trade that for 5 minues, add in some random fluctuations and random update speed, and youve got yourself a training program...
Why reinvent the wheel? Just use the MT4 backtester in visual mode.
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,611
  • Nov 4, 2014 8:38pm Nov 4, 2014 8:38pm
Quoting ciptard
{quote} I'm just asking, I don't know if anyone here has tried it or not, as for me, I would never dream that high. And yes, I have the same opinion, nobody risks that amount to get the next win and of course "they withdrew their winnings too soon"
I am trying this out on a new account I have created with exness. Don't know how far I will get and may not even clear the 1st step but I will definitely give it a try. $25 is nothing much to lose.
Striving to Develop & Implement Innovative Ideas
  • #1,612
  • Nov 4, 2014 8:41pm Nov 4, 2014 8:41pm
Quoting FerruFx
{quote} ... even though the process should be the same ... That's the whole difference! Discipline is lost most of the time at certain level ... when the trader isn't used to trade big amount on his conservative account.
Exactly
  • #1,613
  • Nov 4, 2014 10:42pm Nov 4, 2014 10:42pm
Quoting FerruFx
{quote} Why reinvent the wheel? Just use the MT4 backtester in visual mode.
because the point isnt to expose yourself to market movement directly, but the idea of cycles first, then becoming able to
ride cycles even with noise added...VERY different from simply watching random noise or market simulators, no learning
happens there, nothing for the brain to process...thats why I gave the option to turn on and off the noise...
  • #1,614
  • Nov 4, 2014 10:42pm Nov 4, 2014 10:42pm
Quoting New-Pragati
{quote} I am trying this out on a new account I have created with exness. Don't know how far I will get and may not even clear the 1st step but I will definitely give it a try. $25 is nothing much to lose.
assuming they even let you withdraw any money lol
  • #1,615
  • Nov 4, 2014 11:26pm Nov 4, 2014 11:26pm
Quoting RickJames300
{quote} assuming they even let you withdraw any money lol
Your concern is very valid.
Planning is something that needs to be done before any crazy venture.
Just being a little optimistic , IF I succeed the first few steps then I will restart with fxpro.
Currently I have $25 and starting lot with 0.01 . The series would go like 0.01 , 0.02 , 0.04 , 0.08 , 0.16 , 0.32 , 0.64 , 1.28 , 2.56 , 5.12 , 10.24 , 20.48 , 40.96 , etc.
IF,IF and IF somehow I succeed till 7th step (0.64 lot) then the ideal option would be to withdraw the amount and open ECN account with Fxpro/Alpari/FXCM/Oanda.
Again start from step 1 (reset the process).
Very 'distant dream' or better still 'MISSION IMPOSSIBLE'.
getting to dream big at the cost of $25 is worth the money. Very similar to buying a lottery ticket.
Striving to Develop & Implement Innovative Ideas
  • #1,616
  • Nov 4, 2014 11:34pm Nov 4, 2014 11:34pm
Quoting New-Pragati
{quote} Your concern is very valid. Planning is something that needs to be done before any crazy venture. Just being a little optimistic , IF I succeed the first few steps then I will restart with fxpro. Currently I have $25 and starting lot with 0.01 . The series would go like 0.01 , 0.02 , 0.04 , 0.08 , 0.16 , 0.32 , 0.64 , 1.28 , 2.56 , 5.12 , 10.24 , 20.48 , 40.96 , etc. IF,IF and IF somehow I succeed till 7th step (0.64 lot) then the ideal option would be to withdraw the amount and open ECN account with Fxpro/Alpari/FXCM/Oanda. Again start...
If you go to step 7 ... you can afford to burn few $25 accounts
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,617
  • Nov 4, 2014 11:52pm Nov 4, 2014 11:52pm
Quoting New-Pragati
{quote} Your concern is very valid. Planning is something that needs to be done before any crazy venture. Just being a little optimistic , IF I succeed the first few steps then I will restart with fxpro. Currently I have $25 and starting lot with 0.01 . The series would go like 0.01 , 0.02 , 0.04 , 0.08 , 0.16 , 0.32 , 0.64 , 1.28 , 2.56 , 5.12 , 10.24 , 20.48 , 40.96 , etc. IF,IF and IF somehow I succeed till 7th step (0.64 lot) then the ideal option would be to withdraw the amount and open ECN account with Fxpro/Alpari/FXCM/Oanda. Again start...
Nice plan. Good luck with that. I hope we can see the results too if you don't mind..
Let the market comes to you!
  • #1,618
  • Nov 5, 2014 12:07am Nov 5, 2014 12:07am
Quoting ciptard
{quote} Nice plan. Good luck with that. I hope we can see the results too if you don't mind..
Thanks.
It can be assumed/concluded that this will be another failure however I will share the results.
Striving to Develop & Implement Innovative Ideas
  • #1,619
  • Nov 5, 2014 6:29pm Nov 5, 2014 6:29pm
Good Thinking...............................................
  • #1,620
  • Nov 7, 2014 5:14am Nov 7, 2014 5:14am
Quoting ciptard
{quote} Nice plan. Good luck with that. I hope we can see the results too if you don't mind..
Quoting New-Pragati
{quote} Thanks. It can be assumed/concluded that this will be another failure however I will share the results.
The first try (lottery ticket) was a failure . Incurred a loss of $23. Not much of a pain.
Second lottery ticket will be purchased some time soon.
Striving to Develop & Implement Innovative Ideas
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