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

Tis quite all right mr demo

forget I said anything

another loser

time will tell
https://www.myfxbook.com/members/_GDR3k_/gdr/1589253

ı send a message ff post about owing money.ı will not finish it here

yes

how is 275%+ in 1 week a loser?

you must have a system before applying this email money management. It's not a system.

I think rags to riches is possible with forex but you have to be very patient it could take 5 to 10 years before you make decent money it all depends for some people $100 is what they live off for a week for others its what they spend on a nice dinner

i bet the thread Op never made it even in demo account

This is not an issue the Op achieved it or not. He had given an idea that it can be done. Possible at least theoretically. You want to do it or not, the choice is you'rs.

I agree with you. To help believers and doers I want to share my experience.

I run fx as a business and treat it as a highly lucrative and less risky business than many other businesses which are more riskier than fx trading.

I have trained myself to trade professionally by using self-help material and by trial and error during last 20 years.

The Three Ws + 1 H of currency trading
what to trade, why to trade, when to trade, and how to trade (trading tools, Money Management, etc)
What to trade:
Please check volatility from real-time data displayed on a couple of websites. Do some web search work and find yourself.
Why to trade:
My reason - GBPJPY and all GBP pairs will have a lot of volatility for its run-up to Brexit and sometime after it.
When to trade:
On days when the pair is volatile. If a day is full of economic events like April 14 (6 events of high volatility expectation) it is extremely ideal.

If you are under-capitalised stick to demo trading until you have gathered enough savings to undertake this high capital-intensive business.
Characteristics of Fx trading: 60% capital part, 25% emotional (psychological) management and 15% money management and trading system technique.

If you think you want to go for a lottrey, and are willing to bear a loss which will not materially affect your finances, do try it.

How to trade:
My business plan template
I have set up the structure of my business as follows with Averaging and Drawdown plan as optional for those with deep pockets.

(a) The initial deposit (1 contract of GBPJPY needs $710.40 initial margin for 1:20 leverage pip value US$0.92) + maintenance margin of $736 ($0.92 x 800 pips) to cover two weeks ago weekly (HL) high drawdown of 800 pips.
Total investment required: $1446
Return targetted: 10 pc in a week. $145
Days volatility expected: 3 days in a week
In pips: 160 pips (each pip at 0.92)
Each volatile day: 80 pips or 4 trades each of 20 pips
Strategy: Scalping and day trading only .
Daytrading; Mostly sell for next two months from higher levels for day trading. Wait for the higher levels to build up.
If want to sell from higher levels let the pair gain at least 350-400 pips and then sell and take profit at 100 pips down.
Scalping: Take profit at 20-22 pips for every trade, Trading timeframe: 30 minutes to 1 hour
Risk Management:
No stoploss or prepare yourself for drawdown and averaging by selling from higher levels.
Averaging and Drawdown tactics: If trades go against me I start averaging and provide enough funds for 800 pips drawdown without getting bogged down for scalping trading continues.

Trading tactics and tools of the trade:
Use Moving Average distance to bank upon pullbacks, retracements etc . Simply use single-MA which crossing the price.
MADistance is a good monitoring system to keep an eye on strong and weaker currencies group in real-time. You will also find equally good live heatmaps on currency strength from M1 to MN1 on websites. Use both of them to do your analysis for timing of momentum expansion/acceleration.
Focus on Group strength/weakness of JPY and GBP and then strike when it is hot for GBPJPY to yield pips. Just bank on momentum acceleration to get you pips.
Sell when all pairs of GBP are weak and JPY are strong in 1m,5m,15m,
Buy when all pairs of GBP are strong and JPY are weak in 1m, 5m, 15m.
Trading hours: do research and stick to Asian, Frankfurt and London trading hours. Real-time data available on several websites.
If residing in USA, just stick to US trading session.
If you trade well on a day full of economic events like April 14 (6 events of high volatility expectation) then 1 day alone can hit a week's target easily.

[quote=simnz;8877169]... (1 contract of GBPJPY needs $710.40 initial margin for 1:20 leverage pip value US$0.92) + maintenance margin of... [\quote]
Are you talking futures? Currency trades in lots....

drawdown

Private after bragging a week ago = 99% of the cases simply means it CRASHED And that is exactly what is to be excepted with this "system" and way of money management.

You are 99% right!

if acount make 275% in week everyone can predict the end.what make me sad is member @gdr3k member here since 2011 and have only 1 week of history and he is proud with it

Different types of money management exist. I use a similar concept to this tread and have had great success. Just because this does not align to your beliefs does not mean it doesn't work. This is how right wingers or left wingers or similar ideological people think. They think they are right and everyone else is wrong. Aggressive compounding works for systems with large R:R. I don't know what the owner of this thread thinks about the value of RR but if it's working for him you need to jog on.

and

And if there was not something else related to this MM way i think you are done here and maybe can do me the favor and leaving this thread. I think you have covered it all who is lieing who is scammer and this thread is useless becuase it dont work, so maybe time for you to move on please.

Best regards

yes,ı am sory if ı cut your work.greenpips

Ignore the negativity. Just keep up the good work. If its working for you then grab it, crack it, improve it. Trading is nothing except something suits your personality , style , Pressure handling level. You will get success.

Brokers are not our friends remember. They have much greater resources than us to spread rumors. So as a results, we everyday listening shits as golden trading rules.
Exploits the leverage you have, Set logical and economical SLs. Spot an entry as early as possible. There is nothing bad in using higher LOTS if its loss is withing your limits. Green Pips to all.