How I Turned 1k To 100k In A Wk!!!

Edit due to not like to be censured.Seems the proffessor can said his peace but I have been denied the right to rebuttal.I tried 3 times to rebuttal and I was censored.I wish you the best of lucks.That is the difference between a trader and a cocky 20 year old.I wake up everyday to learn.I like to share my knowleadge.I understood long time ago that your account size is just a way to keep score and Integrity and Humility came with age.


Upssss I did it again today.

Wait wait wait !! Once you make your a/c too much huge, institutional trader can see your orders and they can steal your money. I will keep maintain my a/c balance 100 k. If it overflows with profit, I would withdraw. Year by year the 100 k limit will be increased as per the increasing ratio of newbie traders or a trading volume of the forex world.

feel free to "rebuttal" I'd really like to see the 1k to 100k in 24 hours and not just a screen shot of a demo account. I'm also curious on what broker you use, surely a man of your intelligence is aware of the 50:1 leverage cap with US brokers and anyone accepting US clients. Also I'm curious to know why someone like you who can grow an account from 1k to 100k in 24 hours is wasting time looking on forums trying to justify their strategy in piss poor english. Shouldn't someone with your skill be well on the way to making a couple million by now? Especially with the fact you've been trading for 10 years! Do you not understand how compound interest works... or do you just like to "show off" demo acct screen shots from a phone trying to make the argument that huge leverage and risk is the way to success?


kind regards

while I might seem like a dick hopefully you see my point.

professor. 1k - 44k currently as a college student. 20 years old

Why do you feel the need to remove all your posts, embarrassed of what you have said ehh? Seems to me like you are a washed up bar tender that made maybe 40k a year, never went to college, sucked through high school, found fx and has been desperately trying to make a quick million to finally retire. Only the fools try to make quick money with such a small account. Seriously though NO ONE after trading 10 years settles with a 20 sec hold stratgey. Like wtf you honestly think anyone at fx factory will believe you are a successful scalper using an unknown, unregulated broker, holding trades for a minute or 2?

Good luck buddy

Professor

Hello,
I'm new here and I found this thread very very interesting. My interest isn't because of the profit which was claimed to have been obtained, but because of the pessimistic outlooks of most of the members. Someone went on to write that a thread like this shows that great amount of profits can be done in forex, which is clearly evident, but it is impossible to sustain. One of the bones I have to pick with many bloggers is that ANYTHING in forex is sustainable. Why would anyone even think that you could sustain either a win or even a loss in forex?
Many other posters mentioned that his money management was horrible, simply because he wagered a large sum of his account on a particular trade. Well money management isn't simply how larger or small you manage your lot sizes. Money management also entails your ability to not give many pips to the market once you take your positions (accuracy after entry), which is something NO ONE even for 6 months is able to show proof of.
I would like to offer a challenge to anyone who would be willing to take part. I would offer 3,000usd to anyone who can open a trade explorer, and for only 3 months, maintain a drawdown of pips after entry for less then 20 pips, as I believe accuracy is only way to obtain anything close to the results which the O.P. has obtained.

Money management is an excuse to let losers run. Accuracy is the key to forex. Do you really think the banks allow losers to run say 1000 pips as most traders do? Has anyone even seen statements of the banks? We (the public) have made trading an emotional field play. Where want say the trend is your friend, but EUR/USD was in a 2 year uptrend before that drop from 1.3999 After the fact people say EU was overbought, so they brought it down, but the trend isn't anymore of your friend as counter trend trading is. We simple ignore price action, and that is what causes these massive losses, or in the case of the O.P. that massive win.

Please,to be fare to all of you,let me clarify that nothing was claimed.I just post an opinion.I recommended that each of us have to find their own trade method that fit your style or your risk tolerance .I agree that risk management is the way to g but it can be different for each of us.The veracity of my post was put in questions and I
offer proof It was possible to achieve this results.Also that is not wise to try to do it every day.I just try to contribute with another point of view.Take it or leave it as you wish.I am not selling my services ,neither any system,neither I post nothing other than my past experiences.

Good post. I use only 10-15 pip SL in every trade I take on 1M chart, and so agree with your accuracy assessment...

It's true that you will always find naysayers on forums like this, who seek to bash those who achieve anything.

Nonetheless, I think your $3,000 is very safe. Some reasons here. Edge-based profit is sustainable; maintaining a 100% win rate using tight stoplosses is not. This is not bashing achievers, or being pessimistic; it is simply the reality of how markets work.

Curiously, the OP has quoted Larry Hite and Paul Tudor Jones elsewhere:

"Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don't take a hard look at risk, it will take you. If you argue with the market, you will lose. It is incredible how rich you can get by not being perfect. Never risk more than 1% of your total equity in any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical. I have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet. Frankly, I don't see markets. I see risks, rewards, and money."
---Larry Hite

"Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. There is nothing better than a fresh start. The most important rule of trading is to play great defense, not great offense. Every day I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum possible draw down. Hopefully, I spend the rest of the day enjoying positions that are going in my direction. If they are going against me, then I have a game plan for getting out. Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead. I know that to be successful, I have to be frightened. Don't focus on making money; focus on protecting what you have."
---Paul Tudor Jones

Remember, these guys are not pessimists. They are trading giants who have amassed vast wealth from the markets.

Excellent results I assume that you are looking at those three majors and going with the flow when you see the opportunity, using large positions with small targets a.k.a scalping ? But your initial risk is your trading capital, no?

Hanover, I happen to agree with you and I am an admirer of Larry Hite and Paul Tudor Jones.Please read my post and you'll see I am not promoting any style or method.
My point was to prove anything is possible and there is not a right or wrong way to go.Each one of us has to find their own style and risk tolerance level.Each one of us has to take the journey that is as valuable at the place we will reach at the end .That became a better trader is much more than have a large account.I did not intend to create this debate and make believe this activity is easy.I personally believe is hard work and require a tenacity found not in many.Jack Swagger in Market WIzard,happened to agree with the concept of different trading styles and If you have the privilege to speak wit Soros, you ll see he does not think there is only one responsible way to trade.
In my opinion ,to achieve great result you need to take huge risks,but if you are ok with average returns,good for you.In the end ,any of us have to determine what we want of the markets and create a strategy to achieve it.

I apologize for all this argue,it was NOT my intention.

Sincerely

Merquise,you are correct on the flow but I am watching 16 crosses.

Probably because those majors have the highest liquidity and tightest spreads.

Welcome to the mad house, Dcrecycler.
Ignore the naysayers and do keep posting for those who, like yourself, wake up every day to learn, with an open mind.
Inspiration is a valuable commodity; thanks for sharing.

I’m sorry if it seems that I’m arguing with you. I totally agree with you that there are many ways to trade, and that everybody must find an approach that both works profitably and that they are comfortable with. It seems that you’ve reached that point and are achieving good results. Excellent work!

I’ve been involved in the markets since 2001, and in forex since 2007. I used to belong to a group of traders, and I learned from studying their successes and failures. Nowadays I personally know 4 traders who have been successful for periods between 4 and 10 years. One of these manages a few million pounds, including a small part of my investment portfolio. These traders have helped to shape my way of thinking: about how markets operate, what strategies and techniques work best, and what returns are realistically possible. Of course this doesn’t mean that there aren’t other traders out there who use very different techniques, and are even more successful.

I also understand that there is no ‘one size fits all’ risk model. For example, a trader looking to build a $500 account quickly might be justified in taking bigger risks than a fund manager running a 7-8 digit account who must take responsibility for his clients’ money. Also, I realize that the agendas of institutions and retail traders can be very different: for example, retailers tend to run much smaller positions and can enter and exit with inconspicuous agility, while heavyweights must work to disguise their entries, lest they move the market too far against themselves, and must likewise unwind their positions more slowly. And so on.

I stand by the statements that I made previously: that, unless one has an omniscient view of a continuously changing order book (and forex is a decentralized market, making it even more difficult), it’s impossible to sustain a 100% win rate (at > 1:1 RR) over a long period. I don't believe that conventional analysis (TA/FA) can ever deliver absolute certainty. In my 13 years in the markets, my observations and experiences have made me an absolute believer in the need to manage risk. If a trader is taking too much risk per trade, then it can take only one 'black swan' event to overturn even the most perfect strategy. It’s also widely known that the biggest reason that newbies blow accounts is overlevaraging. Hence I believe the question should not be "how much can I make?" but "how much can I make, without putting my account or my emotions at risk?"

Having said that, I understand that price movement is the result of orderflow, and it’s possible to make accurate entries by using certain S/D-based techniques that identify levels where large volumes of orders are most likely to be placed; the patterns that heavyweights create as they seek to find liquidity; the way that S/R reflects the actions of trapped traders; etc etc. Hence it is possible to play a kind of metagame, and thus trade with the ‘smart money’. Of course there may be other techniques that are just as effective.

Finally, I would like to say that trading is an on-going learning process that never stops: about the markets, about methodologies, and about yourself.

If all of this makes me a closed-minded naysayer, then I’m very happy to be one.

Welcome to the forum, and I wish you a very happy holiday and much continued success in 2015.

These are very important points that Hanover makes and continues to make in the tribble he considers useful information.

1. He's been in market for, well, let's just call it 14 years.
2. In this time, he only knows a few people who make money in markets.
3. One of them, he relies on for profit.

Because

4. He doesn't make money in markets and after 14 years of this shit, still doesn't float his own boat.

Let's face a little reality here...

If you had a doctor who you found out only scored 45% on his exams, would you continue to seek advice from this guy?
If over that same period of time, you found out that your doctor lost more patients that helped, would you even walk down the same block as his office?
What if only a portion of those successful patients, were because he consulted other doctors or posted reference to them seeking better advice?

Years ago, I heard a quote and it couldn't really seem more relevant than this very moment to pass along.

It goes like this:

If you want to be successful, do what other successful people do.

Now...

Read the facts...Not only does Hanover, whose only real claim to fame is that he is a board senior at FF, not have the ability to trade, he barely knows of a few people that can.

Where does he draw this logic?

Seemingly, from like minded.

Better luck next year, Hans!

Quote #2....

This is my statement i turned $8 to $50 within one week ( 500 pips no single loss )

First of all ,I want to thank all the post and messages of support and welcome.

1. Lex,I can't teach you how to trade but I can tell you is up to you to learn and master this very rewarding activity.Start with the basis,learn Technical Analisis, Candlestick Charts,Position Sizing and Risk management.Try to read as much as you can from great traders.Market Wizards 1 and 2.Trend Following,Jesse Livermore,Rob Booker books,Kathy Lien,Boris Schoolberg,Ed Ponzi,Van Tharp and everything you can get on print or pad.The last and more important thing is spend time in front of the monitor watching the charts.
Start with as many demo account you need until you became profitable on demo.Just and just after that go live with a Micro account and again be profitable.The more important thing is find your motivations for doing this.If you are not willing do the work,I assure you are wasting your time and money.

2. Hanover,thank you for your input,I would like to hear more about your trading and experiences.Please fell free to comment,add .debate or correct any of my opinions and posts.I will debate you with honesty and integrity and I hope to learn from a healthy exchange.

We are on agreement on all your points and I can see you are neither a close-mind or a naysayer.
I have been debating if it was a good idea post my statement but you can argue that it was a effective way to get many of you all attention.

3.Proffesor,with all the noise at the bar ,I can only accomplish this humble return.Allow me on a quiet environment ,I may do better,jajajajajaj

Thank you again for your input.I wish you all a Happy Holidays.

NOTE:Let me leave you some hope to start the year.

@Dcrecycler

your demo account statement is bit worthless with that above 100 lot size trading, i think its not possible with real live account ^