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

  • #1,801
  • Jul 5, 2015 12:33am Jul 5, 2015 12:33am
Quoting GDR3k
I wlll say this also, a close friend of mine wanted to try forex a while back, I shown him how I do it and all that but the fundamental thing which made him lose his money was himself, it wasn't his entrys which were wrong as a few of them as I told him I had the same entry (limit order), it was the fact he was unable to accept a loss or accept what he thought was right actually wasn't going to pan out like he had hoped, and would sit there 'babysitting' it, so he'd move his stop just that bit lower on the off chance the market would turn, until...
Great post amigo
It's all about bucks, kid. The rest is conversation.
  • #1,802
  • Jul 5, 2015 3:04pm Jul 5, 2015 3:04pm
Quoting hayseed
{quote} //---- hey khali.... .... best of luck with your attempt.... there is no doubt in my mind that starting with only 100$, in 9 or less trades you could have 51,200$ or more..... remember, the lot size must be calculated correctly..... the lot size is not stated in post 1 but it is not-so-clearly implied.... and clearly incorrect..... to be honest, in the past 10 years i can not ever recall seeing a 'correct' lot size based on %risk formula.... there are plenty generic formula's but they fall flat on their face when applied...
Hi hay...

 

  1. A thread is opened under trading journals : Rags to Riched : My Implementation
  2. Lot calculator indicator developed (attached), for now it simply throws the info on the comment line. MQ4 source attached if any one like to give it a more sexy look.
  3. EA for sub-account management under development.
  4. Don't mind the few trades already taken on the account , check post # 21 for details.


Have a good week hey.. and all,

Khalil

Attached File(s)
File Type: mq4 Lot_Calculator_02.mq4   2 KB | 502 downloads
File Type: ex4 Lot_Calculator_02.ex4   6 KB | 360 downloads
No guts, no glory
  • #1,803
  • Jul 5, 2015 6:44pm Jul 5, 2015 6:44pm
Quoting abokwaik
Lot calculator indicator developed (attached),
//----

hey khalil...... ..... very well done.... you have considered that which is not normally considered.... there is no doubt in my mind you see the serious 'lot size calculation' math flaw in post 1.....

there are a couple other equally not so obvious math errors in post 1.....

noticed your journal..... i've been reading it closely..........h
to trade and code, keep both simple... no call to impress....h
  • #1,804
  • Jul 5, 2015 7:01pm Jul 5, 2015 7:01pm
Quoting hayseed
{quote} //---- hey khalil...... ..... very well done.... you have considered that which is not normally considered.... there is no doubt in my mind you see the serious 'lot size calculation' math flaw in post 1..... there are a couple other equally not so obvious math errors in post 1..... noticed your journal..... i've been reading it closely..........h
why do you keep saying that this cant be done due to lot size calculations? and that we are all missing out on a serious point??? in post #1 lot sizes are not even mentioned anywhere?! so where are you coming up with this conclusion? I agree many people dont understand how to calculate properly lot sizes as is evident in some of the replies here but it is not so hard like you are proclaiming.

Give me an example of your SL and TP and entry price and currency pair and your % risk on a trade. I am sure i can accurately tell you what lot size you should open the trade with.
  • #1,805
  • Edited 8:55pm Jul 5, 2015 8:42pm | Edited 8:55pm
Quoting TerryTibbs
in post #1 lot sizes are not even mentioned anywhere?! so where are you coming up with this conclusion? .
//----

hey terry..... you are correct, the lot size is not mentioned.... as i said before, the lot size is not stated in post 1 but it is not-so-clearly implied ......

the pairs are not stated either..... but they are not-so-clearly implied...

any pair that can make 100$ with 200 pips while risking 50$ must pay 1$ a pip and the lot size must be 0.05..... what pairs could they be.....

//-----

Give me an example of your SL and TP

use his figures below...

6) The Math
T1 -Balance $100 - Risk $50 - Take Profit $100
If you use 50:1 leverage, 100 pips is your stop loss. Your target is 200 pips.

use the gbpcad pair..... what lot size with a target of 200 pips would double the account..... and is it even possible to risk 100 pips before a margin call....
//------

what post 1 is missing are the marketinfo math's like marginrequired and tickvalue, along with accountfreemargin(), accountstopoutlevel() , freemargincheck() and a few other such issues.....

yall take care......h
to trade and code, keep both simple... no call to impress....h
  • #1,806
  • Jul 5, 2015 11:22pm Jul 5, 2015 11:22pm
Has anyone ever heard of or maybe even considered this Double In A Day ??

It is an EA but I won't dare post a commercial site, you can find it easy enough.

They use a spreadsheet to make the initial calculations for the EA and be prepared for the trade

Might be something to consider

Attached Image (click to enlarge)
Click to Enlarge Name: 6-07-2015 2-14-19 PM.png Size: 72 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,807
  • Jul 6, 2015 2:22am Jul 6, 2015 2:22am
Quoting hayseed
{quote} //---- hey terry..... you are correct, the lot size is not mentioned.... as i said before, the lot size is not stated in post 1 but it is not-so-clearly implied ...... the pairs are not stated either..... but they are not-so-clearly implied... any pair that can make 100$ with 200 pips while risking 50$ must pay 1$ a pip and the lot size must be 0.05..... what pairs could they be..... //----- Give me an example of your SL and TP use his figures below... 6) The Math T1 -Balance $100 - Risk $50 - Take Profit $100 If you use 50:1 leverage, 100...
you are saying one thing then arguing another. You were saying mistakes in lot calculations. What you mention are limitations with leverage/margin which is highly dependant from broker to broker, your account size and what pair you are trading.

and a person could theoretically open that trade at 50:1, but again its dependant on the broker, if the broker has 100% stop out level then its ok, if its some other number then he will get margin called immediately.... but again these are separate issues than saying you cant do this because all the lot calculations are off. Everyone will use their own SL amounts and different lot sizes, this does not mean it cant be done. Thats why i was confused why you were proclaiming this feat cant be done just because no one can figure out how to calculate lot sizes???
  • #1,808
  • Jul 6, 2015 3:40am Jul 6, 2015 3:40am
Quoting TerryTibbs
{quote} Thats why i was confused why you were proclaiming this feat cant be done just because no one can figure out how to calculate lot sizes???...
Where does he say it can't be done?
Luck is where preparation meets opportunity.......
  • #1,809
  • Jul 6, 2015 4:40am Jul 6, 2015 4:40am
Quoting Ozzie Taz
Where does he say it can't be done?
//----

hey ozzie.... thanks for pointing that out..... thought i had made it clear my view is that it is possible.....

wish everyone the best of luck in their attempt....... thanks again......h

//-----

Quoting hayseed
{quote} //---- hey khali.... .... best of luck with your attempt.... there is no doubt in my mind that starting with only 100$, in 9 or less trades you could have 51,200$ or more.....
to trade and code, keep both simple... no call to impress....h
  • #1,810
  • Jul 7, 2015 2:14am Jul 7, 2015 2:14am
Quoting Ozzie Taz
{quote} Where does he say it can't be done?
right here:

Quoting hayseed
{quote} //---- hey khali.... .... best of luck with your attempt.... there is no doubt in my mind that starting with only 100$, in 9 or less trades you could have 51,200$ or more..... remember, the lot size must be calculated correctly..... the lot size is not stated in post 1 but it is not-so-clearly implied.... and clearly incorrect..... to be honest, in the past 10 years i can not ever recall seeing a 'correct' lot size based on %risk formula.... there are plenty generic formula's but they fall flat on their face when applied to...
in the past 10 years he's never seen anyone do correct lot sizes.... really now?
  • #1,811
  • Jul 19, 2015 8:09pm Jul 19, 2015 8:09pm
Quoting hayseed
{quote} //---- hey terry..... you are correct, the lot size is not mentioned.... as i said before, the lot size is not stated in post 1 but it is not-so-clearly implied ...... the pairs are not stated either..... but they are not-so-clearly implied... any pair that can make 100$ with 200 pips while risking 50$ must pay 1$ a pip and the lot size must be 0.05..... what pairs could they be..... //----- Give me an example of your SL and TP use his figures below... 6) The Math T1 -Balance $100 - Risk $50 - Take Profit $100 If you use 50:1 leverage, 100...
This thread seems to have run its course, but I will toss this out:
Hayseed is right that a lot is left out of the original post.
The system assumes that trades of 100% gains are more common than 50% loses.
Did anyone notice that a few consecutive loses takes your account down to ... (pennies?)
100–>50–>25–>12...

You might find this helpful:
A careful trader should watch his 3 Rs.
The attached xls lets you see your risk as R%, R$, and Rpip.
It also lets you see your maximum practical trade size for pairs of interest to you.
The average true range is a good basis for quantifying your trades. I like ATR.20.
Multiply that by some factor (I like 1.0 to 1.5) to get the Rp for your trade.
Attached File(s)
File Type: xls _TradeCalc1.xls   17 KB | 570 downloads
  • #1,812
  • Edited 11:50pm Jul 19, 2015 10:31pm | Edited 11:50pm
Quoting timingchain
{quote} This thread seems to have run its course, but I will toss this out: Hayseed is right that a lot is left out of the original post. The system assumes that trades of 100% gains are more common than 50% loses. Did anyone notice that a few consecutive loses takes your account down to ... (pennies?) 100>50>25>12... You might find this helpful: A careful trader should watch his 3 Rs. The attached xls lets you see your risk as R%, R$, and Rpip. It also lets you see your maximum practical trade size for pairs of interest to you. The average true...
In your example you have 3 losing trades in a row. If this is a common result with the R:R in demo trading this strategy then it's not advised to attempt it. This thread isn't about an every day method nor is it encouraged to be so. Rather it is directed at highly experienced traders who wish to take up the challenge. It's not impossible but it also requires nerves of steel (if this is a lot of money to the trader) which brings in another dimension to the trading strategy.

Example of a 2:1 trade (original SL). It's far from complete but imo momentum should carry it across the finish line. It can also be broke even at any time.

Edit: B.E.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd #84.png Size: 57 KB
As the lights go by so too do the shadows move
  • #1,813
  • Jul 20, 2015 2:02am Jul 20, 2015 2:02am
Quoting timingchain
{quote} This thread seems to have run its course, but I will toss this out: Hayseed is right that a lot is left out of the original post. The system assumes that trades of 100% gains are more common than 50% loses. Did anyone notice that a few consecutive loses takes your account down to ... (pennies?) 100>50>25>12... You might find this helpful: A careful trader should watch his 3 Rs. The attached xls lets you see your risk as R%, R$, and Rpip. It also lets you see your maximum practical trade size for pairs of interest to you. The average true...
you need to leave this thread.... since you were not even bothered to read what it is about....
  • #1,814
  • Jul 24, 2015 2:58am Jul 24, 2015 2:58am
Idea is good, It's better than play with 2% risk, but I see one problem, maybe someone mention before: if you want play with 50% risk you need minimum 1:320 levarage and analogously if you want play with 25% risk, you need minimum 1:160 levarage, because of required margin.
I'm trying this MM, we will see what happens. Only issue for now is the levarage as I mention earlier, I solvet it in this way that I have bigger deposit for covering margin but trade like only have 100$, It's ok now, but with bigger position, my depo will be not enought.
  • #1,815
  • Edited 7:49pm Aug 21, 2015 6:45pm | Edited 7:49pm
great thread thank you R2R

i'm a bit less aggressive... running a 24-day (better said: 24-stage, since losses will push me back one or few days/stages now and then) plan, targeting 30% a day, losses limited to previous day (stage) starting balance, so basically a 23% risk / 30% reward game - not based on a single trade (though a single trade a day is an ideal scenario), but in reality, more on a bunch of intraday trades.. if the market is in a good mood i won't hesitate to accumulate more to frontrun the days.

trading EU on 1min chart with respect to HTFs & everything else.
max 1.5 lots per every 1000 of balance. will open any position with half that size so i can add to it.
stop loss at previous day starting balance, entries considered only if they make sense with regard to SL and profit potential.

starting with 600, expecting 250K.
currently 1 day ahead, thx to the beautiful uptrend.
TE attached.

guess it will take about two months; it would take just a month if i didn't lose a day but that's really impossible.
Attached Image
  • #1,816
  • Sep 5, 2015 11:44am Sep 5, 2015 11:44am
I can't understand why nobody could achieve this yet. This would mean that nobody is winning +9 trades. Its really strange considering the fact that order of win or loss doesn't matter.
  • #1,817
  • Sep 5, 2015 8:54pm Sep 5, 2015 8:54pm
Scary at best.
  • #1,818
  • Sep 6, 2015 9:25am Sep 6, 2015 9:25am
As much as people are hating on this thread and concept I like it. I'll give it a go for fun on a real account of $100 and see how it goes next month.
Thanks OP hope you're still around on the forums.
  • #1,819
  • Sep 7, 2015 3:23am Sep 7, 2015 3:23am
I'd recommend trading EUR/JPY if you're looking for 100+ pips/day
As you may know...once it picks a direction for the day, you can get good runners.
  • #1,820
  • Sep 7, 2015 10:03am Sep 7, 2015 10:03am
The reasoning that dominates this thread is faulty. The goals and targets specified have no relevance because the first step of defining a technical system and collecting a win-loss distribution is not done. If you don't know the chance of getting a win or loss you can't know the chance of getting a string of wins.
Quoting epilogue
I can't understand why nobody could achieve this yet. This would mean that nobody is winning +9 trades. Its really strange considering the fact that order of win or loss doesn't matter.
It is not always the case for all systems that wins and losses are independent and randomly distributed. For example, certain short-term momentum systems tend to produce clusters of wins only during a macro trend.

Rather than blowing up small accounts on a get-rich-quick scheme, in my opinion, its far better to save up a larger account size to gain access to a broader range of markets for diversification purposes.
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