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Attachments: 50 to 22000 in one week
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50 to 22000 in one week

  • #921
  • Sep 3, 2016 3:59pm Sep 3, 2016 3:59pm
People think it is easier to say risk 50 pips and make 10, but this is just plain wrong. Good trading is about the identification of firstly trend, then the identification of entry points. If you decided to trade a H4 chart, using the right method you can identify reversal points to within 40 pips then you could, then drop to the M5 chart, and try to enter with an even tighter stop. What you have then done is allowed the benefit of a H4 move, but the stop of a 5 min chart. So as volatility is related to the time frame. You allow yourself the option take make a huge profit compared to the stop you use.

I know that I use to try to enter the market with a 2 pip stop and a 20 pip stop, that always ended badly. If you cannot read the market then don't trade it. Look at any chart no indicators and ask yourself what is price up to. Where is it going, where might it stop. If you cannot answer the questions then you should not be trading. Someone asked me last week why I was not trading, I could not figure the market out, so I did nothing. Then when I saw an opportunity I took it.

Look for opportunities.
  • #922
  • Sep 3, 2016 11:04pm Sep 3, 2016 11:04pm
Interesting to see this thread. I am late to join here. Another attempt?
  • #923
  • Sep 4, 2016 3:37am Sep 4, 2016 3:37am
Definitely it has to be risk vs reward.....How many times your stoploss you expect to take....Ideally if we have a 25 pip stop you want a TP of at least 50-150 pip reward.....Risking 50 to gain 10 sounds like the wrong way round......But hey if it works for you run with it......Theres a million ways to trade....
  • #924
  • Sep 4, 2016 5:56am Sep 4, 2016 5:56am
Quoting Sparkoz
Definitely it has to be risk vs reward.....How many times your stoploss you expect to take....Ideally if we have a 25 pip stop you want a TP of at least 50-150 pip reward.....Risking 50 to gain 10 sounds like the wrong way round......But hey if it works for you run with it......Theres a million ways to trade....
you cannot trade successfully with a small stop loss OR you cannot expect to make a living..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #925
  • Sep 4, 2016 6:01am Sep 4, 2016 6:01am
Quoting Fxentropy
A chart for later reviews, i think we'll see soon 1072x {image}
do you want post indicator?
  • #926
  • Sep 4, 2016 6:04am Sep 4, 2016 6:04am
he must try my multi-account approach:
he bets all his basket in one go.

when he reach %400, he should have divided it into 4 accounts.

I start with
$300
+$300 (2nd account)
+$300 (3rd account)
etc.

than main account to $600
etc.
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  • #927
  • Sep 4, 2016 6:30am Sep 4, 2016 6:30am
Quoting Hurst
Just $50 give yourself a 25 pip target and a 40 pip stop. Keep doing this just 21 time times.
Don't forget that any single loss is a 50% draw down on the account whereby you would then have to win back 100% just to get back to break even. Just two losses in a row and you are in serious trouble requiring many wins in a row without any further draw downs.

The hole gets deeper.
  • #928
  • Sep 4, 2016 7:49am Sep 4, 2016 7:49am
New week, new account? Looking forward to, to see you actually achieving your goal.
  • #929
  • Sep 4, 2016 9:15am Sep 4, 2016 9:15am
Quoting openyoureyes
he must try my multi-account approach: he bets all his basket in one go. when he reach %400, he should have divided it into 4 accounts. I start with $300 +$300 (2nd account) +$300 (3rd account) etc. than main account to $600 etc. {image} {image} {image}
Excellent plan.
  • #930
  • Sep 4, 2016 11:54am Sep 4, 2016 11:54am
Quoting openyoureyes
he must try my multi-account approach: he bets all his basket in one go. when he reach %400, he should have divided it into 4 accounts. I start with $300 +$300 (2nd account) +$300 (3rd account) etc. than main account to $600 etc. {image} {image} {image}
These accounts are just less than a week old. No approach can be considered as stable until & unless it survives at-least one year.
  • #931
  • Sep 4, 2016 1:50pm Sep 4, 2016 1:50pm
Did you have made 50 = 22000 lol ?
  • #932
  • Edited 3:23pm Sep 4, 2016 3:10pm | Edited 3:23pm
I went from $500 to $14k once.
(that I can prove, others -$1k to $32k- I won't mention because I can't prove them now.)
it must have been 3 years ago, you can check my old screenshots.

I am $300 to $1400 now, (lower I can't manage)
2 days trading only XPTUSD. (only wednesday and thursday)

Don't let no one drag you down.
  • #933
  • Sep 4, 2016 3:15pm Sep 4, 2016 3:15pm
Quoting openyoureyes
I went from $500 to $14k once. (that I can prove, others I won't mention because I can't prove them now.) it must have been 3 years ago, you can check my old screenshots.
How long did it take?
No pain no gain
  • #934
  • Sep 4, 2016 3:39pm Sep 4, 2016 3:39pm
2 weeks,
~3000 trades (most 0.01, I was just increasing lots as it was flying)
%72 win.

long GBPJPY 2014
abenomics

and one time gold drop 1800 to something. $100 to $2k instant

(if you want this kind of growth you can't just sit and wait.)

there are many others in FF who achieved this,
rags2r many more now that I can't rememger...
  • #935
  • Sep 4, 2016 3:55pm Sep 4, 2016 3:55pm
I use 5-6 accounts now because I know my own psychology.
I do the scalp positions on big accounts, and I do the "risky" big lots on small accounts with small SL from S&R points.
Managing a small account is easier, because you have limited risk even if your SL slips your loss is limited.

If my trades are in break even, I transfer the ~%50 margin to an empty account and use that margin in new trades
  • #936
  • Sep 4, 2016 6:07pm Sep 4, 2016 6:07pm
Quoting openyoureyes
I use 5-6 accounts now because I know my own psychology. I do the scalp positions on big accounts, and I do the "risky" big lots on small accounts with small SL from S&R points. Managing a small account is easier, because you have limited risk even if your SL slips your loss is limited. If my trades are in break even, I transfer the ~%50 margin to an empty account and use that margin in new trades
Why don't you just observe minutely what works for you and what does not? It will save you the hassle of managing multiple accounts, and give you the confidence to handle just one account for all types of positions, whether scalping or otherwise. And combining all accounts to one account will also give you a good account balance to achieve better profits from your trades. Think about it.
  • #937
  • Sep 4, 2016 6:09pm Sep 4, 2016 6:09pm
Quoting openyoureyes
I went from $500 to $14k once. (that I can prove, others -$1k to $32k- I won't mention because I can't prove them now.) it must have been 3 years ago, you can check my old screenshots. I am $300 to $1400 now, (lower I can't manage) 2 days trading only XPTUSD. (only wednesday and thursday) Don't let no one drag you down.
That's pretty impressive. Whilst I am curious as to how long did it take you to reach $14,000 from $500, the result itself is very impressive. Well done.
  • #938
  • Sep 4, 2016 6:19pm Sep 4, 2016 6:19pm
Quoting themanager
{quote} Why don't you just observe minutely what works for you and what does not? It will save you the hassle of managing multiple accounts, and give you the confidence to handle just one account for all types of positions, whether scalping or otherwise. And combining all accounts to one account will also give you a good account balance to achieve better profits from your trades. Think about it.
I agree with openyoureyes in using multiple accounts for better MM. Some can achieve MM by using single account as well, I respect them. It depends on your personality, strategies I guess.
No pain no gain
  • #939
  • Sep 4, 2016 6:27pm Sep 4, 2016 6:27pm
I think the point here is to not leave more money in an account than you are prepared to risk because that would be pointless.

I also trade off S&Rs plotting my target and risking a percentage of this target in relative to my account. The reward has to be at least equal to if not greater than the risk...never the other way round. Pip distances have nothing to do with it other than to form a part of the equation.

That is to say 100 pips is exactly the same as 10 pips. However at 10 pips I would be looking more at a 1:1 trade whereas at 100 pips I would be looking for a 1:5 trade but these don't happen very often. Each 5% of risk would be matched by a 5% of reward at least.

This has nothing whatsoever to do with what bags is doing...He is maxing out all he can not just a percentage of it pushing hard for a huge win or risking the loss of initial investment.

We all know there are safer ways to trade... That is not the point here.
  • #940
  • Sep 5, 2016 12:06am Sep 5, 2016 12:06am
Quoting openyoureyes
I went from $500 to $14k once. (that I can prove, others -$1k to $32k- I won't mention because I can't prove them now.) it must have been 3 years ago, you can check my old screenshots. I am $300 to $1400 now, (lower I can't manage) 2 days trading only XPTUSD. (only wednesday and thursday) Don't let no one drag you down.
Trade explorer please?
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