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Million dollars dream - starting from $1000

  • #101
  • Mar 23, 2015 10:21pm Mar 23, 2015 10:21pm
I have to admit the entrainment value is great.
There are those who know, and there are those who don't know.
  • #102
  • Mar 23, 2015 11:40pm Mar 23, 2015 11:40pm
[quote=FXSayWhat;8158982]{quote} ... 8 years into trading FX, 10 years since FF site was built and among the current 330,000 members here, i have NOT seen one who made the 100k%. ...

of course...fxtyrant ...
Money is made by sitting, not trading. Jesse L. Livermore
  • #103
  • Edited 2:50am Mar 24, 2015 12:22am | Edited 2:50am
It is a bold goal which will breed controversy.

Has not Larry Williams done something similar? Has he been able to do that over and over again? Unlikely. I do not recall reading claims of even the master duplicating his own success. It would have been invaluable to someone who made business out of trading education.

The aforementioned is not negative of someone else doing the trick, but chances of a thread poster achieving that are fairly slim.
  • #104
  • Mar 24, 2015 12:39am Mar 24, 2015 12:39am
Quoting TimTheTrader
{quote} In this forum there are so many people who are all talk, but have no evidence.
There are many people here with results to show but chose not to, for unnecessary stress and scrutiny. You don't have to see a person's book to judge for yourself whether his comment make sense or not. You use your brain. There is always an ignore option. Learning to control your emotion is a crucial part to discretionary trading.
  • #105
  • Mar 24, 2015 12:53am Mar 24, 2015 12:53am
There are values in failed attempts. Important to draw lessons from failure. Was there an edge in the strategy. If yes, what went wrong? Did you ask yourself those q? You started a new acc. Do u know what to do differently this time? Those are more important than trying to convince other forumers whom u don't even know.
  • #106
  • Mar 24, 2015 1:16am Mar 24, 2015 1:16am
This one is finished. I will have no further comments.

The next million dollar dream account journal hosted by (of course) TimTheTrader
http://www.forexfactory.com/showthread.php?t=524945


Quoting TimTheTrader
You forgot about the people who just post long paragraphs criticizing others as if they are experts themselves, but have nothing to show, and are just all talk. Some people let this "High impact member 1%" title get to their head, and think they are Forex experts all of a sudden. If you had so much advise to give, why are you not working for Goldman Sachs or JP Morgan. I sure your input would make them billions
I guess you won. You will have my full mutherfuking attention now. You wanted it, and now you will have it, boy.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #107
  • Edited 10:38am Mar 24, 2015 10:28am | Edited 10:38am
Quoting FXSayWhat
This one is finished. I will have no further comments. The next million dollar dream account journal hosted by (of course) TimTheTrader http://www.forexfactory.com/showthread.php?t=524945 {quote} I guess you won. You will have my full mutherfuking attention now. You wanted it, and now you will have it, boy.
Did I hurt you feelings? Do you want some tissue to wipe the tears from you eyes? You sound really emotional.
Here you go
Attached Image (click to enlarge)
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Trade smart, not hard
  • #108
  • Mar 24, 2015 10:43am Mar 24, 2015 10:43am
Quoting kinky
{quote} There are many people here with results to show but chose not to, for unnecessary stress and scrutiny. You don't have to see a person's book to judge for yourself whether his comment make sense or not. You use your brain. There is always an ignore option. Learning to control your emotion is a crucial part to discretionary trading.
How do you know that? Are you one of them, because I doubt that..

Anybody can write a paragraph to make themselves look smart, but its another thing to put those words into practice and show the results.

Learn to be realistic before you to talk to me.
Trade smart, not hard
  • #109
  • Mar 24, 2015 10:44am Mar 24, 2015 10:44am
Quoting TimTheTrader
{quote} Did I hurt you feelings? Do you want some tissue to wipe the tears from you eyes? You sound really emotional. Here you go {image}
Let think..you will be milionaire...at 95 year old....
  • #110
  • Mar 24, 2015 11:08am Mar 24, 2015 11:08am
Quoting armyda
{quote} Let think..you will be milionaire...at 95 year old....
Okay..
Trade smart, not hard
  • #111
  • Mar 24, 2015 12:13pm Mar 24, 2015 12:13pm
Quoting FXSayWhat
..The only thing that is clear to me is the odds making the 100K% and have the care to post his gain on FF is less than 1/330,000 in the past 10 years or so. That's the fact. Until the first 100K% trader pops his head up, there isn't even a thing called "the theory to the 100K% gain" due to lack of result. Statistics 101. This is important to understand. So is it possible to do? Sure, anything is possible. The chance you and I become that person is 1 in 330,001 or even greater. ..
I see couple problems with this type of statistics.
As for me, I don't care whether all the others failed, that's not relevant to me. I am myself, they are/were who they are/were. Even looking at my own statistics how it was in the past is usefull only to an extent..for I am different this time then I was before. I learn, shift. And if I don't..it's my problem. What if your statistics tells you you are "looser" because you just failed and failed and failed. Would you accept that and quit or would you say "ok, that's who I was..but from now on I am winner"? The answer is obvious at least for me. And I wouldn't even bother counting how probable it is.

I am not talking about doing it in a year or so, that to me too pushy, especially for someone who never grew it up to say $100k and thus learned what it takes. But anyway, there's always somebody who doesn't care about "general" statistics and does the impossible. Rule throughout the history. So why bother to even count statistics?

Reaching & breaching $1mil from a small account is just a matter of time & commitment to keep going as one explores himself throughout the process. Personally I wouldn't trade at all if I wouldn't see myself making big enough money at some point in the short enough future. Say 3-4 years. That's individual, I'd say I went through the worst period of trader already and found the good enough base I can build upon. It's an ongoing exploration for sure.
Markets wispers, just tune in.
  • #112
  • Mar 24, 2015 1:21pm Mar 24, 2015 1:21pm
Quoting plukin
{quote} I see couple problems with this type of statistics. As for me, I don't care whether all the others failed, that's not relevant to me. I am myself, they are/were who they are/were. Even looking at my own statistics how it was in the past is usefull only to an extent..for I am different this time then I was before. I learn, shift. And if I don't..it's my problem. What if your statistics tells you you are "looser" because you just failed and failed and failed. Would you accept that and quit or would you say "ok, that's who I was..but from now...
I PMed you with my thoughts since I have already stated previously that I would not give any further comments to this thread.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #113
  • Mar 24, 2015 5:14pm Mar 24, 2015 5:14pm
I still don't get why most don't try for this: 10-20% a month on starting capital. Almost every month be in that range. Be an actuarial scientist.
Don't try to leverage more as you earn more until you double your account. Then can trade completely off of profits.

But yeah, doesn't anyone else just want a high sharpe, low STDEV, low drawdowns, and steady progress per month? That is all I could ask for. but I suppose different people want different things?
  • #114
  • Mar 24, 2015 5:28pm Mar 24, 2015 5:28pm
Quoting skillz16
I still don't get why most don't try for this: 10-20% a month on starting capital.
Unfortunately Skillz16, making 10% a month consistently is almost impossible. Mathematically it's like tripling your account each and every year.

Not even Soros or Buffet can do that, far from it.
Each losing trade is an opportunity to learn
  • #115
  • Mar 24, 2015 6:38pm Mar 24, 2015 6:38pm
I think you can do it to a certain point. But yeah, I agree you cannot go forever. That is why I always argue to only be focused on making gains on the base account you started with- ie am not talking about compounding everything on top of itself. I think most people go on this greedy tangent and find ruin.

I would consider the target year to be 100-120% and You would just be doubling. So first year say you had 1k- next year it is at two. The next year you are still setup to make another 1k. So then you have 3k and it is only a 50% gain. But yeah, you are just investing on profits and you are not trying to geometrically compound or something like most people shoot for then wash out when they inevitably hit a downside.

I think some of the best traders of all time hit around 15% a month for a while until their accounts got too big but maybe I am wrong. I thought that was in market wizards or something like that.
  • #116
  • Edited 7:10pm Mar 24, 2015 6:53pm | Edited 7:10pm
Quoting skillz16
I think some of the best traders of all time hit around 15% a month for a while until their accounts got too big but maybe I am wrong. I thought that was in market wizards or something like that.
Sure, anybody can make 15% a month for 2, 3 or 4 months. But try to find just one single trader that did this consistently for the last 50 years, for example...

By the way, 15% a month means that the trader is now multiplying his trading capital more than 5 times over each year.

That's the problem with most traders, totally unrealistic expectations.

I said it before and I will say it again : making "just" 2% a month consistently (while keeping the drawdown under 25%) is ALREADY a phenomenal achievement that very few traders can claim.
Each losing trade is an opportunity to learn
  • #117
  • Mar 24, 2015 7:07pm Mar 24, 2015 7:07pm
Tim...

Let's face the facts here, my friend...you are not Soros nor are you Buffet like this fucking clown has stated.

Quoting EarnPipsNow
Not even Soros or Buffet can do that, far from it.
But then again...you have the brass to put up a live trade explorer where his thread and wanna be image read like a fucking train wreck in the forex community. Undoubtedly, he will be branded as a commercial member and will do this, without actually proving that he has ever taken a live trade, win, lose or draw...

But then there is this fucking guy...

Quoting FXSayWhat
I guess you won. You will have my full mutherfuking attention now. You wanted it, and now you will have it, boy.
Well, you've got his "full mutherfucking attention", but really, what does that get for you? This ass clown couldn't keep a trade explorer running on a demo account past a WEEK!! DEMO...

As you progress, there will be these shitheads that come across your path...because they fail consistently, they cannot accept that others can be on the other side of the equation.

All of that being said, you really need to clear your head off all the bullshit, stop trying to make this a pissing contest and continue on as you have set out to do. Seriously, brother...this is your path, your journey and you don't need to step in the way of your own success.

Where others have failed because they let their ego get in front of their success, you don't have to be them.

Stand tall, brother.

Of all of those who oppose you, how many of them will dare to compare their gains to yours?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #118
  • Mar 24, 2015 7:11pm Mar 24, 2015 7:11pm
So here is a more realistic example of what I have seen with someone else and a small account: so each month you have a 2000 loss limit. Your expected gain ioer month s 10k. It is pretty much 50/50. So basically 5 to 1 risk to reward. The downside is protected by an option so technically the person can be drawn down past 2000 in the month and still cone back and continue without it being too risky. IE you've stopped out the spot position and the option srill moves heavily in your favor. It is then removed and the monthly drawdown is actually less. But anyway:

Expectation is 5-1 per month or around 40% wish a year because not all months are traded/ some time off. So anyway I think working a process like this is possible. And yeah you will have randomness and down years, but it seems like traders I have seen just control their distributions of risk and reward and let the rest go. I think there arr those that make 40%isb a year decently often but yeah they would probably have trouble on the public stage or if they had to manage much more. But maybe I just do not know also. Could easily be the case.
  • #119
  • Edited 8:20pm Mar 24, 2015 7:32pm | Edited 8:20pm
Quoting skillz16
So here is a more realistic example of what I have seen with someone else and a small account: so each month you have a 2000 loss limit. Your expected gain ioer month s 10k. It is pretty much 50/50. So basically 5 to 1 risk to reward. The downside is protected by an option so technically the person can be drawn down past 2000 in the month and still cone back and continue without it being too risky. IE you've stopped out the spot position and the option srill moves heavily in your favor.
No.

While it is true that buying put or call options on the derivatives market can and will protect your spot position against adverse and/or sudden moves, it will NOT give you ANY kind of edge in the long run, regardless of risk/reward ratio.

If your trading system has no particular edge to begin with, buying put or call options for "protection" will only achieve one goal and one goal only: it will ruin you at a much faster rate.

Cordially.
Each losing trade is an opportunity to learn
  • #120
  • Mar 24, 2015 9:44pm Mar 24, 2015 9:44pm
Lets Goooo Tim, just do the best and the right trade, forget all except that point.
we don't predict, we only ride
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