Rags to Riches in 10 or 20 Trades - Simplicity at its finest | Page 108 | Forex Factory

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

  • #2,141
  • Dec 29, 2016 10:05am Dec 29, 2016 10:05am
amazing, now to try and apply it :-)
  • #2,142
  • Jan 11, 2017 5:05am Jan 11, 2017 5:05am
I've had a few goes at getting in with 25 pip stoploss ....Many cases I can do this but its dependent on pair. Big movers are tough for precision entry.
It opens your eyes to how compounding works however. I think the higher you get; the better it would be to split the trade...
The chances of winning euromillions is about 116 million to 1. This looks more achievable ...I think I would stop once my mortgage was paid however :-)
12 net wins.... That would be a great challenge ... Mortgage Pay Off.
  • #2,143
  • Jan 11, 2017 5:56am Jan 11, 2017 5:56am
Quoting Sparkoz
I've had a few goes at getting in with 25 pip stoploss ....Many cases I can do this but its dependent on pair. Big movers are tough for precision entry. It opens your eyes to how compounding works however. I think the higher you get; the better it would be to split the trade... The chances of winning euromillions is about 116 million to 1. This looks more achievable ...I think I would stop once my mortgage was paid however :-) 12 net wins.... That would be a great challenge ... Mortgage Pay Off.
you can do it.. its more achievable then you think!
It's in fear when people show what they truly value.
  • #2,144
  • Jan 14, 2017 7:43pm Jan 14, 2017 7:43pm
Quoting michaelpelly
Do anyone realize what a 20 successful trades mean - like 20 trades in row with no losses and all of them to reach the target?! I've never witnessed such miracle. Most real....
Maybe I'm wrong - but this is a little bit "FX fairy tales" to me...
Â
Quoting Sparkoz
I've had a few goes at getting in with 25 pip stoploss ........
12 net wins.... That would be a great challenge ... ÂÂ
Â
Hi
Â
There's nothing difficult with 12 or 20 successful wins.
Just need concentration, timing. Or guts
Â
Here's my demo. Miracle!!!! Sure some risks taken. But i trade part-time
My real have more success rate....
Â
GL.
Â
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Beware of robber banks (RB), bad advisors.
  • #2,145
  • Jan 17, 2017 5:31am Jan 17, 2017 5:31am
Quoting Not-KPMG
{quote} {quote} Hi There's nothing difficult with 12 or 20 successful wins. Just need concentration, timing. Or guts Here's my demo. Miracle!!!! Sure some risks taken. But i trade part-time My real have more success rate.... GL. {image}
It's the stoploss thats a killer....
Unless your trading less volatile pairs ....
I guess there's always a way....But trading GJ for example could be a nightmare for precision entry; 25 pips ...
even if your idea is correct ....
I'm sure its do-able; but in more trades...
But that's part of the fun
  • #2,146
  • Jan 17, 2017 5:51am Jan 17, 2017 5:51am
Quoting Sparkoz
{quote} It's the stoploss thats a killer.... Unless your trading less volatile pairs .... I guess there's always a way....But trading GJ for example could be a nightmare for precision entry; 25 pips ... even if your idea is correct .... I'm sure its do-able; but in more trades... But that's part of the fun
Or you could use 50 pips SL and target 100 pips. The secret here to stay long in this risky method is to put at breakeven as soon as possible. Also time is not a constraint here,you just need to play THAT setup where you have plenty of confidence. Those setups may appear once a month or once a week,it really all depends on the market and trading style.
Happy hunting!
Work smarter,not harder
  • #2,147
  • Jan 17, 2017 5:53am Jan 17, 2017 5:53am
Quoting Sparkoz
{quote} It's the stoploss thats a killer.... Unless your trading less volatile pairs .... I guess there's always a way....But trading GJ for example could be a nightmare for precision entry; 25 pips ... even if your idea is correct .... I'm sure its do-able; but in more trades... But that's part of the fun
 
You are right.
E/U and E/J seem easy and trendy.
Rest are total mess.
Beware of robber banks (RB), bad advisors.
  • #2,148
  • Edited 6:24am Jan 17, 2017 6:14am | Edited 6:24am
Quoting marcof91
{quote} Or you could use 50 pips SL and target 100 pips. The secret here to stay long in this risky method is to put at breakeven as soon as possible. Also time is not a constraint here,you just need to play THAT setup where you have plenty of confidence. Those setups may appear once a month or once a week,it really all depends on the market and trading style. Happy hunting!
Ha...Like AJ just now ...1HR divergence....
I would like to play the longer game; as you know ....
But I'm pretty much a day trader.
A few hours in and out ...
Could lock in 20 pips and whatever else is a bonus ...
  • #2,149
  • Jan 24, 2017 11:25am Jan 24, 2017 11:25am
Quoting Not-KPMG
{quote} {quote} Hi There's nothing difficult with 12 or 20 successful wins. Just need concentration, timing. Or guts Here's my demo. Miracle!!!! Sure some risks taken. But i trade part-time My real have more success rate.... GL. {image}
Dear consecutive wins not required. Only your wins should be 15 greater than your losses then the mission achieved.
Forex; the game of movements not the game of candles.
  • #2,150
  • Jan 24, 2017 11:30am Jan 24, 2017 11:30am
Quoting Sajid
{quote} Dear consecutive wins not required. Only your wins should be 15 greater than your losses then the mission achieved.
Your right..
It's in fear when people show what they truly value.
  • #2,151
  • Jan 24, 2017 11:51am Jan 24, 2017 11:51am
Quoting Sajid
{quote} Dear consecutive wins not required. Only your wins should be 15 greater than your losses then the mission achieved.
15 wins greater than losses at 50% risk with TP twice as big as SL and mission is achieved.
  • #2,152
  • Jan 24, 2017 12:05pm Jan 24, 2017 12:05pm
Quoting hollowhead
{quote} 15 wins greater than losses at 50% risk with TP twice as big as SL and mission is achieved.
For me, Not SL and TP. To be more precise your reward should be double of your risk.
Forex; the game of movements not the game of candles.
  • #2,153
  • Jan 24, 2017 12:17pm Jan 24, 2017 12:17pm
Quoting Sajid
{quote} For me, Not SL and TP. To be more precise your reward should be double of your risk.
Agreed.
  • #2,154
  • Jan 25, 2017 2:07pm Jan 25, 2017 2:07pm
Anyone actually managed to do this "the 11-0" and have a trade explorer to show it ?

I'm gonna give it a couple of trys starting next week.
  • #2,155
  • Jan 25, 2017 2:07pm Jan 25, 2017 2:07pm
Quoting Not-KPMG
{quote} {quote} Hi There's nothing difficult with 12 or 20 successful wins. Just need concentration, timing. Or guts Here's my demo. Miracle!!!! Sure some risks taken. But i trade part-time My real have more success rate.... GL. {image}


To be honest - this does not show much tho? "like drawdown etc." since your avg. time per trade is 8 days to lock in avg 30 pips.. i mean.. could be 200 pips drawdown before you go into profits ;p nice anyhow!
  • #2,156
  • Edited 2:50pm Jan 25, 2017 2:40pm | Edited 2:50pm
Quoting Timnyman94
{quote} To be honest - this does not show much tho? "like drawdown etc." since your avg. time per trade is 8 days to lock in avg 30 pips.. i mean.. could be 200 pips drawdown before you go into profits ;p nice anyhow!
Â
I know, it's not a great example Drawdownoften .
Â
I was saying with proper methods- everything is possible.
When i quit my job- I'll trade more and pick winning trades likely more. Now it's a bit of swing trade.
Â
There's a guy around with 99% rate.
That takes lots of time onscreen...
Beware of robber banks (RB), bad advisors.
  • #2,157
  • Jan 25, 2017 2:48pm Jan 25, 2017 2:48pm
Quoting Timnyman94
Anyone actually managed to do this "the 11-0" and have a trade explorer to show it ? I'm gonna give it a couple of trys starting next week.
 
I did this evening, after work!!! 
I have been so pissed at work, and spike day, and all mess..... So i may have traded risky
 
But easy. I don't recommend angry trading.  Demo!! 
 
Sit all day and pick good trades.
GL.
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Beware of robber banks (RB), bad advisors.
  • #2,158
  • Jan 26, 2017 1:56am Jan 26, 2017 1:56am
I have been studying and trading on a small live account and a large demo account. Over the past few months it appears to me that the only way to make decent money in forex is to have decent sized contracts, trade in the general direction of the trend for and be risk averse when the trade goes against you.

On my live account I have continually lost money using small contracts and a small balance (Still in a positive balance). My demo accounts I have grown it from 20k to 39K in less than a week and that is still including some decent losses. I go in generally with 5-10 contracts in the direction of the trend but 1-5 appears to be the sweet spot, I am profitable within a few pips and take profit quite early unless its a bullish market. If the trade kicks off and it in and its in an upward trend I set the stoploss low to ensure I am not stopped out and once I awoke to a 44K profit on one of my demo accounts. However I never go to bed without a stoploss and never start a contract which I don’t think will be profitable before I hit the sack. Also if the trade goes against me when I have went long and its an upward trend, I sit on the trade and it has always become profitable within 12-24hrs.

What is your opinion? I know this goes against conventional Forex dogma. I have attached a recent screenshot of some of my recent gains. I will say I am very new to Forex but I would say I am profitable in about 75-80 of my trades using this method.

Regards

Dottie.
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  • #2,159
  • Jan 26, 2017 3:07am Jan 26, 2017 3:07am
Quoting Dottie
I have been studying and trading on a small live account and a large demo account. Over the past few months it appears to me that the only way to make decent money in forex is to have decent sized contracts, trade in the general direction of the trend for and be risk averse when the trade goes against you. On my live account I have continually lost money using small contracts and a small balance (Still in a positive balance). My demo accounts I have grown it from 20k to 39K in less than a week and that is still including some decent losses. I go...
Demo is good for learning; but as you know....You dont care about it as much as a real account.
I used to make about 20k a month on a 100k account trading a basic ichimoku system.
Didnt mean I was an accomplished trader. Just meant I had some confidence to go live.
So now your live with a real account. I think your first mission is to survive. Even if you trade 0.01 lots;
who cares...Your learning. Dont have the idea that your not winning because your account isnt big enough...
  • #2,160
  • Jan 26, 2017 3:25am Jan 26, 2017 3:25am
Quoting Dottie
I have been studying and trading on a small live account and a large demo account. Over the past few months it appears to me that the only way to make decent money in forex is to have decent sized contracts, trade in the general direction of the trend for and be risk averse when the trade goes against you. On my live account I have continually lost money using small contracts and a small balance (Still in a positive balance). My demo accounts I have grown it from 20k to 39K in less than a week and that is still including some decent losses. I go...
Thanks Dottie.
What is your trend definition?
Indicator, timeframe, parameter?
Something must make you confident to enter a trade.
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