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

  • #1,901
  • Oct 29, 2015 3:10pm Oct 29, 2015 3:10pm
I have followed this strategy and seen this thread from the beginning and I still think it is possible to do
It's in fear when people show what they truly value.
  • #1,902
  • Oct 29, 2015 3:32pm Oct 29, 2015 3:32pm
Have $500 in my small account - going to start with a risk of $50 tomorrow (if a trade presents itself).

Lets get rich hey.
  • #1,903
  • Oct 31, 2015 11:01am Oct 31, 2015 11:01am
Quoting scottik187
Have $500 in my small account - going to start with a risk of $50 tomorrow (if a trade presents itself). Lets get rich hey.
good luck
i lose money for a living
  • #1,904
  • Nov 3, 2015 7:05pm Nov 3, 2015 7:05pm
Has anyone done this successfully?

It's not very hard to have 3to6 winning trades in a row.

I will try it soon. Sounds fun and challenging. Maybe as prescribed till about 4to6 consecutive winners then dial down for 5% risk.

Some of you people use huge stops. Wow.
A 5 or 7pip/tick stop with a 5% risk with a 1:5 or 1:10 r:r is not un doable.
If you're using 5% risk and get a 1:10 you're up 50%.
5% risk at 1:5 you're up 25%

I'll do 4to6x winners just for bragging rights. Only $50.
  • #1,905
  • Nov 3, 2015 7:57pm Nov 3, 2015 7:57pm
Quoting peregrine
It's not very hard to have 3to6 winning trades in a row.
Winning trades in a row isn't what's needed here ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,906
  • Nov 4, 2015 12:11am Nov 4, 2015 12:11am
Quoting FerruFx
{quote} Winning trades in a row isn't what's needed here ...
Then what is?Don't think about the money or even look at it.
  • #1,907
  • Nov 4, 2015 12:17am Nov 4, 2015 12:17am
Quoting peregrine
{quote} Then what is?Don't think about the money or even look at it.
NET winning trades is what all is about here ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,908
  • Nov 4, 2015 12:27am Nov 4, 2015 12:27am
Quoting FerruFx
{quote} NET winning trades is what all is about here ...
I don't agree that is necessarily true. Yes if you are going by his exact parameters it may be.But most of the stops people are posting are huge imo. If you have a multiple reward to risk system vs these 1:2 , 1:3 systems various people in here are posting you can decrease the leverage after several consecutive wins on a initial 1000usd account.
  • #1,909
  • Nov 4, 2015 12:40am Nov 4, 2015 12:40am
Quoting peregrine
{quote} I don't agree that is necessarily true. Yes if you are going by his exact parameters it may be.But most of the stops people are posting are huge imo. If you have a multiple reward to risk system vs these 1:2 , 1:3 systems various people in here are posting you can decrease the leverage after several consecutive wins on a initial 1000usd account.
That's not the point.

You were referring to winnings in a row ... while the idea here is about net winnings.

Let's say you need 7 net winnings to achieve the progression ... You might need 99 trades to achieve it (46 losers + 53 winners = 7 net winners). No need the 7 to be in a row ... That's just an example and that's the original idea here.
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,910
  • Nov 4, 2015 6:41pm Nov 4, 2015 6:41pm
Quoting FerruFx
{quote} That's not the point. You were referring to winnings in a row ... while the idea here is about net winnings. Let's say you need 7 net winnings to achieve the progression ... You might need 99 trades to achieve it (46 losers + 53 winners = 7 net winners). No need the 7 to be in a row ... That's just an example and that's the original idea here.
7 You are really irritating online. Are you so pedantic in person? Go play with your easOn the topic 9 trades this week. No ea needed. 7winners. 1 wouldn't have been taken if net winnings was the issue.
  • #1,911
  • Nov 4, 2015 7:22pm Nov 4, 2015 7:22pm
Quoting peregrine
{quote} 7 You are really irritating online. Are you so pedantic in person? Go play with your eas
Are you serious ? What in my answer was disturbing you ? There was not disrespect intented ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,912
  • Nov 4, 2015 7:24pm Nov 4, 2015 7:24pm
My biggest problem is that I'm generally a low leverage trader who doesn't use a stop loss. Makes this kind of thing a little difficult!
  • #1,913
  • Nov 4, 2015 8:19pm Nov 4, 2015 8:19pm
Quoting scottik187
My biggest problem is that I'm generally a low leverage trader who doesn't use a stop loss. Makes this kind of thing a little difficult!
Most profitable traders would agree on having a catastrophic stop loss. Cough. Victor Niederhoffer. Cough.That brings up another money management style. Scaling in.
  • #1,914
  • Nov 4, 2015 8:42pm Nov 4, 2015 8:42pm
Quoting FerruFx
{quote} Are you serious ? What in my answer was disturbing you ? There was not disrespect intented ...
Noted. Apologies.I will clarify. My perspective. The author is proposing what appears to be astronomical growth for most retail traders. He proposes 10 winning trades in a row to create 50k with a 1:2 or 117k with a 1:4 system. Both systems initiating with $50 and using 50% risk. The safest way to make money trading could be argued to start with a large sum of money using miniscule risk. This proposal imo is a way for unfunded people who are actually good traders to build a nest egg to eventually trade safely, become independent and self funded. Many good traders imo should be able to cherry pick trades. They can do 3to6 or more consecutive winners. The 1:2 risk to reward ratio is satisfactory, but there are traders and trades that do 1:5, 1:10, 1:20 risk:reward. These are not un informed retail traders. These can be seasoned retail or former institutional traders. If you cherry pick the high percentage trades and the high r:r trades you do not have to do 10 consecutive winners to turn $50 to $50k. You could do 4to6 with a 1:5 system. Then preserve capital by going to a more conservative risk % like 3 or 5%. After a time of 6 digit capital you can go to under a single digit. With Forex in the US you could be capped on this. But that is less the point imo.
  • #1,915
  • Nov 4, 2015 8:45pm Nov 4, 2015 8:45pm
I do have a catastrophic stop loss, but I don't sit there and go "I'm risking 25 pips here", for instance. I have traded like that, but didn't find it profitable. Not saying its right or wrong, but that didn't work for me.

But I think this method can work, just have to find out how to apply it.
  • #1,916
  • Nov 5, 2015 1:41am Nov 5, 2015 1:41am
Quoting peregrine
{quote} Noted. Apologies.I will clarify. My perspective. The author is proposing what appears to be astronomical growth for most retail traders. He proposes 10 winning trades in a row to create 50k with a 1:2 or 117k with a 1:4 system. Both systems initiating with $50 and using 50% risk. The safest way to make money trading could be argued to start with a large sum of money using miniscule risk. This proposal imo is a way for unfunded people who are actually good traders to build a nest egg to eventually trade safely, become independent and self...
You still don't get it, nobody speaks of 10 winning trades in a row in this thread... it's about 10 (or 7) Netto wins.
FerruFx tried to explain it to you, read post #1909 again, it's not hard to understand.
Persistence will get it. Consistency will keep it.
  • #1,917
  • Nov 5, 2015 2:13am Nov 5, 2015 2:13am
Quoting Chake
{quote} You still don't get it, nobody speaks of 10 winning trades in a row in this thread... it's about 10 (or 7) Netto wins. FerruFx tried to explain it to you, read post #1909 again, it's not hard to understand.
That was my point ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,918
  • Nov 5, 2015 2:19am Nov 5, 2015 2:19am
Quoting FerruFx
{quote} That was my point ...
It sure is
Persistence will get it. Consistency will keep it.
  • #1,919
  • Nov 5, 2015 3:25am Nov 5, 2015 3:25am
Quoting Chake
{quote} It sure is
I still disagree.
It's not about NWT.
It's about consistency and building an account from a small size to a large size.
I understand it's averaged out. I understand the NWT theory.

Why would I want to average out when you can do it the first time right?
Consecutive profitable trades in this scenario is much more important that NWT if you can create a high likelihood of consecutive wins.
NWT as a whole is a better concept for a trader to have over 1000 trades but not for this specific challenge of building an account from small to large.

What's so hard to understand it's not about NWT if you can do consecutive wins repeatedly on a regular basis?
It's about the ability to make consecutive wins. Finding your threshold consecutive win count.
It's $50.
1% a day as in your various posts examples will take a long time.
Most people who work and are interested enough in trading to have 4to7consecutive winning trades the majority of the time(assign a % if you like) have $50 to spare. A pet project.
Yes, it voids the money management Nazis.
Build your $50 with the ability to and a consecutive win count to a decent amount like $10k or $50k then adhere to the 1%, 2%, 3% or what ever risk rule.
  • #1,920
  • Nov 5, 2015 3:30am Nov 5, 2015 3:30am
Quoting FerruFx
{quote} That was my point ...
Haha funny asf, so much hate in this thread...you handle it well.
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