Rags to Riches in 10 or 20 Trades - Simplicity at its finest | Page 92 | Forex Factory

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

  • #1,821
  • Sep 7, 2015 10:26am Sep 7, 2015 10:26am
I am trying to use this strategy. But i need some advice. First what time frame is better Second what indicators are recommended. Third, is there any screen shots for encouraging. Thank you guys.
  • #1,822
  • Sep 7, 2015 4:33pm Sep 7, 2015 4:33pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting arvantrade
I am trying to use this strategy. But i need some advice. First what time frame is better Second what indicators are recommended. Third, is there any screen shots for encouraging. Thank you guys.
There's no timeframe and indicators discussed here. That's not a trading system. The only thing involved here is the money management.

You must have your own trading method ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,823
  • Sep 7, 2015 10:11pm Sep 7, 2015 10:11pm
Thanks FerruFx I see now. But i am still seeking for a screen shots with good result. Guys... encourage me...
  • #1,824
  • Sep 8, 2015 7:16am Sep 8, 2015 7:16am
been reading this thread since day one.

on paper you could become millionaire in less than a day, and it seems pretty simple, but in realty the market is an unadaptable beast.
i lose money for a living
  • #1,825
  • Sep 8, 2015 7:58am Sep 8, 2015 7:58am
Quoting arvantrade
But i am still seeking for a screen shots with good result. Guys... encourage me...
You can find one such motivating screenshot in Post 1.

http://www.forexfactory.com/attachme...1&d=1382070275
Trading is the hardest way to make easy money...
  • #1,826
  • Edited 11:14pm Sep 11, 2015 10:54pm | Edited 11:14pm
I have being trying this strategy on and off for quite some time. I have reached lvl 6 twice (+6 net trades) only to fade back again. I kept seeing good profits disappearing and it got me thinking about how I could somehow preserve those profits but also without restarting from the beginning ($50) again. I have now started a new MM system that has it's grass roots from this thread. I will explain briefly but I will prob start a thread too.

2x accounts (or one trading acc. and a bank account)
Withdraw 10% initially (only 5% increments afterwards) from "Capital" account and deposit in "Trading" account.

So say $400 in capital>> $40 to Trading

Now in the Trading account ($40) start trading the RagstoRiches process. If the first trade fails (or at anytime goes to -1 net trade) immediately reimburse the Trading acc. from Capital (-5%) never take the Trading acc. lower than -1 net trade.
I am looking for just +3 2:1 net trades on the RagstoRiches scale or -1 level of the current level of the Capital account (also measured in the RagstoRiches scale).

So to explain: The Trading account currently has $40 so the aim is to get to $80 (+1 net trade or level 1), $160 (lvl 2), $320 (lvl 3). Now at lvl 3 I withdraw from the Trading account and deposit into the Capital acc. (minus the opening balance so that I can start again).

I measure the Capital account in the R2R level system too. ($50, $100, $200, $400, $800 etc). Currently it is at $360 (started with $400 then minus $40 for Trading account). The current level is $400 so the -1 R2R level is $200. If my Trading account makes the -1 level of the Capital acc. ($200 in this example) then I will make the transfer from the Trading acc. to the Capital acc. and then start the process over again.

When my Capital acc. hits the next R2R level up I start the process again with the new Trading account deposit (10% of this level).

If after 10 trades (remembering after the initial $40 deposit I will only need to rebalance my Trading acc. with $20 (5%) to keep it at the 10% level) I still haven't managed to get to the 3+ levels I will need to drop the Trading account deposit. The Trading account deposit depends on what level the Capital account is at.

The benefits:
-Effectively this gives 10 tries to get to level 3 on the R2R scale in the Trading account before having to drop the Trading acc. deposit to start again.
-The risk is initially 10% deposit and then roughly 5% (increases slightly with each try)
-The reward minimum is 50% and with the full 3x 2:1 trades 80% of the Capital account.
-With every successful 3+ net trades more chances are achieved to reach the next capial level.
-You will have to hit 3+ net trades twice on the Trading acc. (perhaps 3 times with many losses) to reach the next level in the Capital acc.

The system is really quite simple but the details take a few words. If your an experienced trader and are confident you can reach +3 2:1 net trades within 10 tries then this may work for you too. As I said I will likely make a thread when I get time and if any interested.
As the lights go by so too do the shadows move
  • #1,827
  • Sep 12, 2015 4:04am Sep 12, 2015 4:04am
Thread started if interested: http://www.forexfactory.com/showthre...66#post8485066
As the lights go by so too do the shadows move
  • #1,828
  • Sep 16, 2015 6:50am Sep 16, 2015 6:50am
Hi gang!

Any experienced coder willing to partner with me on this journey? I believe i have the strats but cant be traded manually due to the way signals are generated. Anyone interested should kindly PM me. You wont regret it.

regards
fm
No Risk No Reward
  • #1,829
  • Sep 22, 2015 5:00pm Sep 22, 2015 5:00pm
I started using this money management guideline in my demo account today in combination with a pretty consistently profitable strategy. Only difference is that I've been using a hard stop loss in conjunction with a trailing stop loss.

I will let you guys know how it goes!
  • #1,830
  • Sep 22, 2015 6:39pm Sep 22, 2015 6:39pm
Quoting Matts Micro
I have being trying this strategy on and off for quite some time. I have reached lvl 6 twice (+6 net trades) only to fade back again. I kept seeing good profits disappearing and it got me thinking about how I could somehow preserve those profits but also without restarting from the beginning ($50) again. I have now started a new MM system that has it's grass roots from this thread. I will explain briefly but I will prob start a thread too. 2x accounts (or one trading acc. and a bank account) Withdraw 10% initially (only 5% increments afterwards)...
Are you not scaling back leverage after your losses...? I would imagine this would help the issue without cutting into your balance too much... No? Am I missing something?
  • #1,831
  • Sep 22, 2015 8:02pm Sep 22, 2015 8:02pm
Quoting kcarmack
{quote} Are you not scaling back leverage after your losses...? I would imagine this would help the issue without cutting into your balance too much... No? Am I missing something?

Basically I do the rags to riches system to to lvl 3. If it fails at lvl 1 then I withdraw 5% of my account to try again. If I make it to lvl 3 I withdraw and start again.

Here's the thread again. It has progressed a bit:
http://www.forexfactory.com/showthread.php?t=557430
As the lights go by so too do the shadows move
  • #1,832
  • Sep 23, 2015 4:40am Sep 23, 2015 4:40am
theoraticly this is a good way to make money but risking that much money is not always easy , but most importantly where are you going to find a 5-6 in a row winning trades this is almost imposible anw thanks for the info
  • #1,833
  • Edited 7:46am Sep 23, 2015 5:21am | Edited 7:46am
Quoting aharissi
theoraticly this is a good way to make money but risking that much money is not always easy , but most importantly where are you going to find a 5-6 in a row winning trades this is almost imposible anw thanks for the info
don't know how many times it needs to be said....

it's not trades in a row, its net trades!!

Read the opening post to figure out how it really works....
As the lights go by so too do the shadows move
  • #1,834
  • Sep 23, 2015 6:43am Sep 23, 2015 6:43am
Quoting aharissi
theoraticly this is a good way to make money but risking that much money is not always easy , but most importantly where are you going to find a 5-6 in a row winning trades this is almost imposible anw thanks for the info
Please note that at each trade level (Tx, see Post 1) you risk half of your balance. Thus, if you lose a trade at level X, your balance comes back to the previous trade level, X-1. For example, if you are in T4, your balance is 800$ and you risk half of it, which is 400$. If you lose this trade, your balance comes back to the previous level, T3. In other words, as Matts Micro mentioned above, there is no need to find a strategy that, for instance, wins 10 trades in a row.
Trading is the hardest way to make easy money...
  • #1,835
  • Sep 23, 2015 10:13am Sep 23, 2015 10:13am
Quoting Matts Micro
I have being trying this strategy on and off for quite some time. I have reached lvl 6 twice (+6 net trades) only to fade back again. I kept seeing good profits disappearing and it got me thinking about how I could somehow preserve those profits but also without restarting from the beginning ($50) again. I have now started a new MM system that has it's grass roots from this thread. I will explain briefly but I will prob start a thread too. 2x accounts (or one trading acc. and a bank account) Withdraw 10% initially (only 5% increments afterwards)...
Whether by skill or luck it would seem statistically possible to achieve 9 net wins but this thread has been open for 2 years and it appears that no one has yet. Looks like Matts Micro strategy has a much higher chance of success.
  • #1,836
  • Sep 23, 2015 10:23am Sep 23, 2015 10:23am
i did give this a quick shot, i got upto lvl 6 but i found i kept pussying out of trades early and soon the emotional strain was way too much, i stopped. I will pick it up again when £100 is truly NOTHING to me, right now, its not much but its enough for me to still feel the pain.

BTW i didnt do 50%/100% split, i was risking about 20% to make approx. 20%-40% depending on what the market wants to give. If i had carried on i wouldve had 11 wins in a row. But again, i underestimated the psychological strain, I'm sure to pick it up again when i'm ready and hopefully next time i will be bale to hold my nerve.

Its possible, just very very difficult in reality.
  • #1,837
  • Sep 23, 2015 11:01am Sep 23, 2015 11:01am
Quoting freundr
{quote} Whether by skill or luck it would seem statistically possible to achieve 9 net wins but this thread has been open for 2 years and it appears that no one has yet. Looks like Matts Micro strategy has a much higher chance of success.

Quoting TerryTibbs
i did give this a quick shot, i got upto lvl 6 but i found i kept pussying out of trades early and soon the emotional strain was way too much, i stopped. I will pick it up again when 100 is truly NOTHING to me, right now, its not much but its enough for me to still feel the pain. BTW i didnt do 50%/100% split, i was risking about 20% to make approx. 20%-40% depending on what the market wants to give. If i had carried on i wouldve had 11 wins in a row. But again, i underestimated the psychological strain, I'm sure to pick it up again when i'm ready...
Both posts hit it on the spot. It's the psychology. I heard an interesting statement the other day. People say that the difference between a practice demo account and real live trading is too much to take the demo seriously. But the difference between the two accounts is actually the way to measure how your trading psychologically. Just food for thought (I do use live btw heh).

I found the stresses of trading so much in one go too hard as well. It was one of the main reasons I made my system. So when you're on $6400 or $12800+ you are still only risking 5% of the account. Importantly too is that there has been many trades before hand to let your mind adjust to the risk levels and trading routine so all trades become "just another trade".
As the lights go by so too do the shadows move
  • #1,838
  • Sep 23, 2015 11:56am Sep 23, 2015 11:56am
I like it! I only read the first and last pages, so I hope I'm not missing too much. But I'm going to give it a shot. Starting with $100, risking $50. Will post with updates/trades as they happen. Which I guess will be slowly if I'm looking for that perfect set up
  • #1,839
  • Sep 23, 2015 12:43pm Sep 23, 2015 12:43pm
Quoting TerryTibbs
i did give this a quick shot, i got upto lvl 6 but i found i kept pussying out of trades early and soon the emotional strain was way too much, i stopped. I will pick it up again when 100 is truly NOTHING to me, right now, its not much but its enough for me to still feel the pain. BTW i didnt do 50%/100% split, i was risking about 20% to make approx. 20%-40% depending on what the market wants to give. If i had carried on i wouldve had 11 wins in a row. But again, i underestimated the psychological strain, I'm sure to pick it up again when i'm ready...
Lvl 6 is still impressive at 20-40%, I imagine the balance built up nicely. I had a similar thought of adjusting to 50% TP and 25% SL and giving it a shot.
  • #1,840
  • Sep 26, 2015 7:38pm Sep 26, 2015 7:38pm
we get what we see. It's all in the mind of the believer!

Gone thru about my health. In 3 different hospitals for 2 different
"sickness". Doctors and specialists so-called told my family, wife and kids
that death is a sure thing for me.

Got so angry, deep inside me coz I've yet really living fully with my lovely wife
and 3 wonderful gifted kids, DECIDED to cheat this expensive death advices.

Now, after 9 beautiful years Im getting very much better with so much love.

Being Focus 100% on your dreams will definitely get you all there. GUARANTEED 100%
Stay Focus with love of achieving it all...LOVE IT ALL and feels the success vibration
with love
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