From $1000 to $50000 Journey | Forex Factory

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From $1000 to $50000 Journey

  • #1
  • First Post: Edited Apr 25, 2016 12:54pm Mar 19, 2015 5:25pm | Edited Apr 25, 2016 12:54pm
How to turn $1000 to $50,000 in a year.
  • #2
  • Mar 19, 2015 10:32pm Mar 19, 2015 10:32pm
Best of luck
  • #3
  • Mar 20, 2015 7:07am Mar 20, 2015 7:07am
Quoting JordanYilmaz
Best of luck
Thank you
  • #4
  • Mar 20, 2015 8:50am Mar 20, 2015 8:50am
Looking Forward to your Journey and best wishes
I'm high on trading, cant you tell?
  • #5
  • Edited 5:05pm Mar 20, 2015 4:04pm | Edited 5:05pm
I just create a trade explorer for this Project and it can only be visible to friends, also you will get to see How much i loss so far in my forex life as a trader then come Monday i will reset everything to march up with the date propose.
  • #6
  • Mar 21, 2015 3:41pm Mar 21, 2015 3:41pm
The plans in achieving this is very simple, First I will venture into Trillion dollar market with a thousand dollars then I will use the power of Leverage and compound the money, am not saying is going to be easy but it worth giving a try, it going to only cost me a thousand dollars and I got Fifty of it to gain. Secondly I plan on doubly the money every two month that will be:
May 29, 2015 account balance $2000
July 31, 2015 account balance $4000
Sept 30, 2015 account balance $8000
Nov 27, 2015 account balance $16000
Jan 29, 2016 account balance $32000
Mar 20, 2016 account balance $50000
  • #7
  • Mar 21, 2015 4:35pm Mar 21, 2015 4:35pm
well in my opinion, you're likely going to blow up your account 100 more times before you achieve this. You will need a very good strategy. A 70-80% win rate and probably some pretty heavy martingale trading when you have losses. It's definitely achievable but few can do it. Just take a look at some of the past myfxbook compititions. The winners of most of the competitions have done it but in my opinion that has massive luck on there side.

Best of luck!
  • #8
  • Mar 21, 2015 4:59pm Mar 21, 2015 4:59pm
Quoting Cubbybgood
well in my opinion, you're likely going to blow up your account 100 more times before you achieve this. You will need a very good strategy. A 70-80% win rate and probably some pretty heavy martingale trading when you have losses. It's definitely achievable but few can do it. Just take a look at some of the past myfxbook compititions. The winners of most of the competitions have done it but in my opinion that has massive luck on there side. Best of luck!
You can only Imagine how many account I have blow up, I don't even have a system yet not to talk of Strategy, I trade solemnly on Price action, I put this project on public just to get advice too from Friends, I will be risking 10% of my account with 40 pips stop loss Take profit will be determine too by price I know that's too risky but my drawdown will also be 30%, The money management is also not common, I will start trading London Open to New York close. If you have any good strategy to recommend that has 70% win rate, I will gladly review it.
  • #9
  • Mar 21, 2015 5:10pm Mar 21, 2015 5:10pm
Quoting macsoj
{quote} You can only Imagine how many account I have blow up, I don't even have a system yet not to talk of Strategy, I trade solemnly on Price action, I put this project on public just to get advice too from Friends, I will be risking 10% of my account with 40 pips stop loss Take profit will be determine too by price I know that's too risky but my drawdown will also be 30%, The money management is also not common, I will start trading London Open to New York close. If you have any good strategy to recommend that has 70% win rate, I will gladly...
You don't need a high win rate to be profitable in Forex. It's all about where you exit the market. If you're wins are double your losses, you could win 40% of the time and be successful.

Example: You get $100 for a win and $50 for every loss.

You traded 10 times.

You win 40% of the time.

$100 x 4 = $400

You lose 60% of the time.

$50 x 6 = $300

You net $100 every 10 trades and you don't even win 50% of the time. Not bad at all.

My win rate is around 40% and I'm doing just fine.
  • #10
  • Mar 21, 2015 7:34pm Mar 21, 2015 7:34pm
Quoting mastergunner
{quote} You don't need a high win rate to be profitable in Forex. It's all about where you exit the market. If you're wins are double your losses, you could win 40% of the time and be successful. Example: You get $100 for a win and $50 for every loss. You traded 10 times. You win 40% of the time. $100 x 4 = $400 You lose 60% of the time. $50 x 6 = $300 You net $100 every 10 trades and you don't even win 50% of the time. Not bad at all. My win rate is around 40% and I'm doing just fine.
I get your point on win rates, you got a good grip of Forex market and knows what you doing, I saw your demo explorer which is very remarkable, Stop by more often to scrutinize me if am trading of charts, I'll be posting charts of my trade and also update on account balances once in a while, trade explorer will be visible to friends for now till further notice, I have live account right now showing all my trading history, the total loss will destabilize Forex newbies and I don't want that, I will rest everything starting from Monday.
  • #11
  • Mar 21, 2015 7:47pm Mar 21, 2015 7:47pm
Quoting macsoj
{quote} I get your point on win rates, you got a good grip of Forex market and knows what you doing, I saw your demo explorer which is very remarkable, Stop by more often to scrutinize me if am trading of charts, I'll be posting charts of my trade and also update on account balances once in a while, trade explorer will be visible to friends for now till further notice, I have live account right now showing all my trading history, the total loss will destabilize Forex newbies and I don't want that, I will rest everything starting from Monday.
No problem. I'll check in and see how things are progressing for you.
  • #12
  • Mar 21, 2015 7:48pm Mar 21, 2015 7:48pm
Good luck friend.
I am NOT an expert. I post to learn from others.
  • #13
  • Mar 22, 2015 7:54am Mar 22, 2015 7:54am
Quoting Phantom-X
Good luck friend.
Thank you
  • #14
  • Mar 23, 2015 6:38am Mar 23, 2015 6:38am
Quoting macsoj
{quote} ..... I don't even have a system yet not to talk of Strategy, I trade solemnly on Price action, ......
To trade, you must have a belief system, a pattern that you have seen work time and time again. By trading this pattern, you gain an edge. That is the strategy..... The system incorporates everything else like position sizing and money management. I highly recommend you put a system on paper before attempting this journey. It will be worth your while
I'm high on trading, cant you tell?
  • #15
  • Mar 23, 2015 9:04am Mar 23, 2015 9:04am
Quoting Sammih
{quote} To trade, you must have a belief system, a pattern that you have seen work time and time again. By trading this pattern, you gain an edge. That is the strategy..... The system incorporates everything else like position sizing and money management. I highly recommend you put a system on paper before attempting this journey. It will be worth your while
I have done that countless of time but for some reason I lack the discipline to follow through, at times i feel like to slap myself to remind me of not going against what i wrote down, I always come back to price action as market looks so random in action and pattern seems not to work in my opinion.
  • #16
  • Edited 10:22am Mar 23, 2015 9:08am | Edited 10:22am
This is ridiculous, first day am down - $277 , just cant wait to see my equity curve come march 2016, 30% drawdown achieved now reset account balance tomorrow
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  • #17
  • Mar 23, 2015 11:39am Mar 23, 2015 11:39am
Today wasn't good day 4 trades
3 loss 1 Break even for a start

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  • #18
  • Mar 23, 2015 11:41am Mar 23, 2015 11:41am
I always trade against my plans thinking my plans are not good enough later to realize that my plan is always the best
  • #19
  • Mar 23, 2015 11:49am Mar 23, 2015 11:49am
Quoting macsoj
I always trade against my plans thinking my plans are not good enough later to realize that my plan is always the best
Friend, this is common. I do it, too. And it is almost always a bad idea.A lot of trading is mental. We have to learn self-control and stick to our plans. Just try to keep cool and stick to your rules. There is always tomorrow.
I am NOT an expert. I post to learn from others.
  • #20
  • Mar 23, 2015 12:20pm Mar 23, 2015 12:20pm
Quoting Phantom-X
{quote} Friend, this is common. I do it, too. And it is almost always a bad idea.A lot of trading is mental. We have to learn self-control and stick to our plans. Just try to keep cool and stick to your rules. There is always tomorrow.
There is always tomorrow, I will trade my plan come tomorrow and if my plan didn't work out well at least I know is my plan, than to not trade my plan and still not work out this will make me go knot. I will trade the trade according to the trade.
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