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Million dollars dream - starting from $1000

  • #121
  • Mar 25, 2015 5:06am Mar 25, 2015 5:06am
Quoting cakrajaya
Lets Goooo Tim, just do the best and the right trade, forget all except that point.
I read yesterday: "The biggest challenge there is is to let it be easy. Easy life, Easy trades, Easy money, etc"
Couldn't agree more..we as humans learned to complicate things, made it difficult, hard, struggle, at time making easy profits..and then letting it as easily evaporate so we don't have it that easy after all etc..
Why on Earth? Cause we might be considered lucky or somewhat stand out way to much and that might get us into troubles & not end well at all?
Doh! I am done with that one!
Easy is good, safe & right from now on! Yeah..
Markets wispers, just tune in.
  • #122
  • Mar 25, 2015 6:53am Mar 25, 2015 6:53am
Quoting EarnPipsNow
{quote} 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.
Interesting thread.

Earnpipsnow,

I've been reading your posts on this thread. You have a realistic view on forex that very few have. For example, If you go on ebay and search forex system you will see a butch of trash that's being sold promising quick riches. Just about every system is. You put the same search and google and similar things come up. I've realized over the years that pretty much every trader or wannabe trader has the wrong idea of what he or she should expect profit wise in forex. In my opinion unrealistic expectations is one of the main reasons most forex traders lose.

I think I may start a personal journal about this as I think a discussion about it may be very interesting. I would also like to talk about how it took me 10 years to figure out how to even make 1-5% per month consistently. I'll probably start this today or tomorrow.

As for the thread starter...I wish you best of luck. What you are trying to achieve may be impossible in my book but maybe you can prove me wrong
  • #123
  • Edited 9:25pm Mar 25, 2015 8:15pm | Edited 9:25pm
Quoting Cubbybgood
For example, If you go on ebay and search forex system you will see a butch of trash that's being sold promising quick riches.
How true my friend.

You could go to Ebay or other online auction websites and type "Forex system" (or something similar) and voila, all kinds of cheap trading "systems" would pop up.

Yep, just Paypal me 99 cents (or even 20 bucks) and I would send you my miracle profitable system for you to use on MQ4 or TradeStation, for instance.

Let's get real here for just 2 seconds, people : Would big hedge fund managers (and/or ANYBODY for that matter) reveal their proprietary winning trading formula for 99 cents or even 20 dollars, for example?

Come on.
Each losing trade is an opportunity to learn
  • #124
  • Mar 25, 2015 9:19pm Mar 25, 2015 9:19pm
Quoting Cubbybgood
{quote} Interesting thread. Earnpipsnow, I've been reading your posts on this thread. You have a realistic view on forex that very few have. For example, If you go on ebay and search forex system you will see a butch of trash that's being sold promising quick riches. Just about every system is. You put the same search and google and similar things come up. I've realized over the years that pretty much every trader or wannabe trader has the wrong idea of what he or she should expect profit wise in forex. In my opinion unrealistic expectations...
I just want to squeeze in and say, when going on eBay and looking for a system its not an expectation.. I think its finding a strategy, most people have a hard time finding their own so they look for others on eBay they are already sold prepackaged plug and play and marketed highly in order to close the sale.. But its about not finding riches as much as having some sort of direction I suppose. Can randomly trying to figure things out (without putting real learning into it) or can go on eBay and find indicators already scripted hastily, I might add. Follow their direction, I guess bad directions are better then no directions, what I am trying to say.
There are those who know, and there are those who don't know.
  • #125
  • Mar 25, 2015 11:55pm Mar 25, 2015 11:55pm
Actually putting up an explorer to boast or to show someone, it will only increase pressure to the trader to perform. Unless he is really use to his strategy and not worry about the critics he will get during losing period, then it doesnt post any problem. Its always good to stay humble because you dont know when and what market going to do to you.

It really take alot of time to build up confidence in one's trading strategy as only forward testing in live market, you know how it fare.
The only winner is the one who survive the longest...
  • #126
  • Mar 26, 2015 12:08am Mar 26, 2015 12:08am
Quoting kinspk
Actually putting up an explorer to boast or to show someone, it will only increase pressure to the trader to perform. Unless he is really use to his strategy and not worry about the critics he will get during losing period, then it doesnt post any problem. Its always good to stay humble because you dont know when and what market going to do to you. It really take alot of time to build up confidence in one's trading strategy as only forward testing in live market, you know how it fare.
that is the point "Unless he is really use to his strategy and not worry about the critics he will get during losing period". forever trust to who I am and nothing else matter.

thanks bro
we don't predict, we only ride
  • #127
  • Mar 26, 2015 7:47am Mar 26, 2015 7:47am
Quoting EarnPipsNow
{quote} 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.
EarnpipsNow, you seem to be certainly sure that itz impossible for anyone to turn 1K to 1Million in 1year,so out of curiosity I humbly ask you; is it possible to turn a 1million account to 1K in 1year?
  • #128
  • Mar 26, 2015 10:20am Mar 26, 2015 10:20am
Quoting Hotkqash
EarnpipsNow, you seem to be certainly sure that itz impossible for anyone to turn 1K to 1Million in 1year
I never said that it's impossible to turn 1k to 1 Million in a year or less. After all, a trader could get extremely lucky and buy the exact low of the year. Then he could pyramid his position to the max and make a killing.

Quoting Hotkqash
is it possible to turn a 1million account to 1K in 1year?
Yes. Here is the fastest way to do it: open and immediately close your position. Repeat this process all day and every day and you will lose all your money via the spread.
Each losing trade is an opportunity to learn
  • #129
  • Mar 26, 2015 11:04am Mar 26, 2015 11:04am
Quoting EarnPipsNow
{quote} I never said that it's impossible to turn 1k to 1 Million in a year or less. After all, a trader could get extremely lucky and buy the exact low of the year. Then he could pyramid his position to the max and make a killing. {quote} Yes. Here is the fastest way to do it: open and immediately close your position. Repeat this process all day and every day and you will lose all your money via the spread.
Alright,I understand your point a lot better now.
  • #130
  • Mar 27, 2015 4:09am Mar 27, 2015 4:09am
I find it brave and congrats anybody who's willing to go from nothing to a lot...very much

But i find it lame to boast about the performance in front of everybody, and just disappear when things go wrong

Who cares? No one has been to show it yet in here, so why disappear if you blow your account. It happens to everybody, just stay in here, say you blow it up, grow some balls and try again
COT: The precious data ignored
  • #131
  • Apr 2, 2015 7:34am Apr 2, 2015 7:34am
Hay Hunting pips,
what happened? Seems you lost a little momentum.
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #132
  • Apr 13, 2015 2:13pm Apr 13, 2015 2:13pm
Quoting anthm
Hay Hunting pips, what happened? Seems you lost a little momentum.
He is still trading..He will be back and better. Just wait on it.
Trade smart, not hard
  • #133
  • Last Post: May 20, 2015 7:11am May 20, 2015 7:11am
Quoting TimTheTrader
{quote} He is still trading..He will be back and better. Just wait on it.
many times in adversity, you see who your true friends and foes are.....500 USD is nothing to me, as I earned a decent income. In fact, it is more than average. As I have already mentioned, I have reservations in starting a thread as I have seen many troubles. I could have spent my time wisely in developing my ea, and refining my strategy.

I will not continue this thread anymore. I have created a link to my new explorer, as I take a more conservative approach to my new account. Adios.


PS: Moderator, pls delete this thread. Thanks.
Make everything as simple as possible, but not simpler.
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