Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Rags to Riches 21 replies

Rags To Riches 203 replies

rags to more rags.. and even more rags! 19 replies

Rags to rags and ice cream 36 replies

Rags To Riches Take 2 24 replies

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

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

Replaced, If you have been around long enough, you should have realised that even the most ridiculous trading system can work for some people. What is proposed here is not a trading system. We are simply saying that, using the trading system that has worked for you all this long, just adjust it such that every time you enter a trade, your risk to reward ratio is 1:2. For each trade risk 50% of your account.

This means you are going to take fewer trades than you would normally do because you can only enter a trade when the possibility of a 1:2 risk to reward is high. Besides start small with say $50, money you can afford to lose.

You talk of commission/ spread, but this is what all traders go through every day of their trading. Now where is the difference in this case. Do you mean to say there is no one out there making money in forex because of the spreads?
Quoting johNal
Replaced, If you have been around long enough, you should have realised that even the most ridiculous trading system can work for some people. What is proposed here is not a trading system. We are simply saying that, using the trading system that has worked for you all this long, just adjust it such that every time you enter a trade, your risk to reward ratio is 1:2. For each trade risk 50% of your account. This means you are going to take fewer trades than you would normally do because you can only enter a trade when the possibility of a 1:2 risk...
No trading system has worked for anybody because Forex is completely random for short term traders. Risk reward ratio only shows part of the equation. You also have to calculate the odds of losing and winning. The odds of losing your bet is 66.66% and the odds of winning are 33.33%. This means that you're twice as likely to lose 50% of your money than double your money. This is problematic since after a 50% loss on your account, it requires a 100% gain to break even.
Quoting Rag2RichesFX
Forgot to mention pyramid. Give me an hour
Good to see you back in the thread

50:1 leverage is a bitch....when using EU anyway. But I'll get it done.
Quoting replaced
{quote} No trading system has worked for anybody because Forex is completely random for short term traders. Risk reward ratio only shows part of the equation. You also have to calculate the odds of losing and winning. The odds of losing your bet is 66.66% and the odds of winning are 33.33%. This means that you're twice as likely to lose 50% of your money than double your money. This is problematic since after a 50% loss on your account, it requires a 100% gain to break even.

Read up on Market depth and Supply and Demand. Also read up on Algos and Dark pools and tell me they don't make money with their systems


C
Quoting Pharm0r
{quote} Good to see you back in the thread 50:1 leverage is a bitch....when using EU anyway. But I'll get it done.
with that attitude, yes you will get it done

Thanks, I've been dealing with a lot outside of trading
Forgot to post the chart

If you go 50:1 leverage then you will get margin called with a stop loss greater than 20%.


Here is an 88:1 RR example. Learn the weekly direction, and get tight entries.

this is my new thread... just random posts I feel worth sharing.
http://www.forexfactory.com/showthread.php?t=527316
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 187 KB
Be hopeful in a winning position, and fearful in a losing position.
Quoting replaced
{quote} No trading system has worked for anybody because Forex is completely random for short term traders. Risk reward ratio only shows part of the equation. You also have to calculate the odds of losing and winning. The odds of losing your bet is 66.66% and the odds of winning are 33.33%. This means that you're twice as likely to lose 50% of your money than double your money. This is problematic since after a 50% loss on your account, it requires a 100% gain to break even.
Quoting replaced
{quote}There is a fatal flaw in your strategy. It assumes that the probability of getting a win and a loss is the same. It's not. The probability of a currency going down 50 pips is twice as high as going up 100 pips. This means that there is only a 33% chance of having your first win on the first try.
Replaced, these are 2 very large assumptions that you have placed on this scenario. The second bolded statement above does not have any support from you but rather just a bold statement.

I would probably guess that his scenario is more like 65% win rate, 15% BE rate, 20% Loss rate. This assumes a BE at say 50 pips. Just throw that into a Monte Carlo simulator and model it. The win reward is 1, BE reward is 0 and loss reward is -0.5 (cannot use 2,0,-1 as that would be incorrect).

Again, I just don't see where you come up with your win and loss rates.
that last chart has everything you need to to learn to trade at a peak level

technically, not emotionally or any other skills like patience or discipline

just the technical and money management side.

will post again it's that important


ok not everything you need but most of it
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 187 KB
Be hopeful in a winning position, and fearful in a losing position.
Anyone who say trading is gambling hasn't been in the industry long enough. Nobody who does this for income every year says they are gambling. If you think Trading is gambling, than you should think that being the house at the casino is also gambling. It's not though. They always win over time. Math always wins over time.
Be hopeful in a winning position, and fearful in a losing position.
Quoting mello87
{quote} Read up on Market depth and Supply and Demand. Also read up on Algos and Dark pools and tell me they don't make money with their systems C
Exactly. FX-Ray posts market depth for GBPJPY. Yesterday it showed 100,000 lots of sell limits between 184.15 to 184.35.
That means 100,000 lots (10 billion) in buy market orders to move price 20 pips above 184.35.

People really need to understand this stuff. I don't know how he builds his depth of markets for FX though.
I know now institute brokers offer it though. I need to start a fund.
Be hopeful in a winning position, and fearful in a losing position.
Quoting flyer415
{quote} {quote} Replaced, these are 2 very large assumptions that you have placed on this scenario. The second bolded statement above does not have any support from you but rather just a bold statement. I would probably guess that his scenario is more like 65% win rate, 15% BE rate, 20% Loss rate. This assumes a BE at say 50 pips. Just throw that into a Monte Carlo simulator and model it. The win reward is 1, BE reward is 0 and loss reward is -0.5 (cannot use 2,0,-1 as that would be incorrect). Again, I just don't see where you come up with your...
WTH are you just trolling/joking or are you for real. You're the one making very large assumptions. My assumptions are based on reality. To think that there is a 65% win rate of getting 100 pips right over 50 pips wrong is so out there. GL with your thinking. If I can't teach you a lesson, the market will do it for me.
The worlds biggest hedge fund is starting an AI trading unit in March.

Machines taking over. I've created an algo that does 20% a year with a 5% stop loss since 2012.

It needs a lot of capital to run it though. Minimum 1million.
Be hopeful in a winning position, and fearful in a losing position.
Quoting Rag2RichesFX
Anyone who say trading is gambling hasn't been in the industry long enough. Nobody who does this for income every year says they are gambling. If you think Trading is gambling, than you should think that being the house at the casino is also gambling. It's not though. They always win over time. Math always wins over time.
Quoting Rag2RichesFX
...I know now institute brokers offer it though. I need to start a fund.
Quoting Rag2RichesFX
I've created an algo that does 20% a year with a 5% stop loss since 2012. It needs a lot of capital to run it though. Minimum 1million.
How much is your account since you've started this thread most than 2 years ago? It should be nothing less than 5 million. Now you want to start a fund?
Quoting replaced
{quote} {quote} How much is your account since you've started this post most than 2 years ago? It should be nothing less than 5 million. Now you want to start a fund?
I don't risk all my money. I'm just showing what's possible.
I only have ~$150k. 2 years? Really?

Most people pull their profits back, as I do.
I can only do 3 in a row without wanting to take profit.
some people have huge balls, and can scale higher.

apparently, i only have medium sized testicles.

I want to start a fund for depth of market. Even though I don't need DoM to find entries.
Only big money needs DoM, because liquidity actually matters to their trade decisions.

It does not to us because some will always take the other side with how small we trade.


Obvious to to me and everyone here you are a rookie. You think trading is about probabilities, like flipping a coin. You seem to think every trade has the same probability. That's pretty fucking stupid. Yes, if you open the chart, press buy or sell without looking, then every trade has the same probability.

Moron.
Be hopeful in a winning position, and fearful in a losing position.
This is purely moronic. Where do your odds come from? I don't get this chart.

"odds" (LUCK) don't exist in the market. only risk reward and expectancy of historical patterns repeating.
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 162 KB
Be hopeful in a winning position, and fearful in a losing position.
Will block you from this thread soon. YOU are making people stupid.

odds are a fixed chance of something happening. nothing in the market is fixed odds. it's purely dynamic.
Be hopeful in a winning position, and fearful in a losing position.
Quoting Rag2RichesFX
This is purely moronic. Where do your odds come from? I don't get this chart. "odds" (LUCK) don't exist in the market. only risk reward and expectancy of historical patterns repeating. {image}
The odds of a 50 pip move loss happening is twice as likely to happen as a 100 pip move gain.
Quoting replaced
{quote} The odds of a 50 pip move loss happening is twice as likely to happen as a 100 pip move gain.
Not if you enter at the bottom. Why is it that I only take trades with 10:1 RR...
But my win percentage***** is higher than 10%?

its called trailing stops.

Time to block you.


nobody is this stupid. troll.
Be hopeful in a winning position, and fearful in a losing position.
Lol, dude just doesn't get it. If you have an accurate entry pattern, you can do this challenge in 1-2 weeks with a broker with high leverage and using a tight stop.
Quoting slug
Lol, dude just doesn't get it. If you have an accurate entry pattern, you can do this challenge in 1-2 weeks with a broker with high leverage and using a tight stop.
Blocked him

that chart would work fantastically in a casino


in the market, our PATIENCE for the ENTRY and PATIENCE for the EXIT create the odds.


we create the odds
Be hopeful in a winning position, and fearful in a losing position.
0 traders viewing now