Rags to Riches in 10 or 20 Trades - Simplicity at its finest | Page 110 | Forex Factory

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

  • #2,181
  • Feb 10, 2017 5:28am Feb 10, 2017 5:28am
Quoting dragonexpert
I like your positive vibe. Everything can happen in forex. To risk 50% per trade is not that risky with 1:2 rr? I mean we can get 2 consecutive loss and all money is gone.
Especially with Trumps twitter account....But hey, its just fun...and possible. Looks like your quite accomplished so whats $50....We need things to have fun with sometimes...
  • #2,182
  • Edited 10:52am Feb 10, 2017 5:54am | Edited 10:52am
Made 50% instead of 100% return cause i freaked out.
From 50 to 75.
Next stage please...
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  • #2,183
  • Feb 10, 2017 6:42am Feb 10, 2017 6:42am
Quoting marcof91
Made 25% instead of 50% return cause i freaked out. From 50 to 75. Next stage please... {image}
Ha! Welll done marco. Nothing wrong with that.
You gonna rish $37.50 or $25 again ....
Either way I have faith
  • #2,184
  • Feb 10, 2017 9:25am Feb 10, 2017 9:25am
Quoting Sparkoz
{quote} Ha! Welll done marco. Nothing wrong with that. You gonna rish $37.50 or $25 again .... Either way I have faith
My best trades are usually the ones that i set and forget.
I was monitoring this one and now looking at the charts i see that price only reached my target in one M15 candle and then reversed. Was playing at 50% risk,once i get uncomfortable i go to 25% risk. I dont care if price reaches my target without me as long i exited with profit. Happy weekend to you.
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  • #2,185
  • Feb 10, 2017 12:37pm Feb 10, 2017 12:37pm
Quoting marcof91
{quote} My best trades are usually the ones that i set and forget. I was monitoring this one and now looking at the charts i see that price only reached my target in one M15 candle and then reversed. Was playing at 50% risk,once i get uncomfortable i go to 25% risk. I dont care if price reaches my target without me as long i exited with profit. Happy weekend to you.
Gbpcad can be quite unforgiving. 25% gain though.... Its all good. Working till thursday so no trading for me next week...Have a good weekend to .... Get some Super Bock down ya :-)
  • #2,186
  • Feb 10, 2017 2:24pm Feb 10, 2017 2:24pm
Quoting Sparkoz
{quote} Gbpcad can be quite unforgiving. 25% gain though.... Its all good. Working till thursday so no trading for me next week...Have a good weekend to .... Get some Super Bock down ya :-)
I edited the post.
From 50 to 75 is not 25% return,but 50%.
Hidden bearish divergence at daily tf and then H4 shows the same is game on.
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  • #2,187
  • Feb 10, 2017 4:05pm Feb 10, 2017 4:05pm
If you can't make 5% per day on average, you may aswelll stop right now.
  • #2,188
  • Feb 12, 2017 5:17am Feb 12, 2017 5:17am
20 trading days
Making 5% each day and compounding
Turns 50 bucks into 2 million in 1 year
Sure it's possible but to a certain degree.
I would quit my job at 100K and would go to full time trader averaging 0,5%/day = 500€.
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  • #2,189
  • Feb 12, 2017 7:26am Feb 12, 2017 7:26am
The maths are correct, however in reality it goes like this. You trade really well for a week, then you up your position size and the losses roll in, taking you back to where you were 2 weeks before.What has changed is your edge. Over time an edge has an advantage, but that does not mean every day that advantage is there. But you as a trader will try to trade regardless.

To make this a reality, only one thing has to be done. Find a set up which wins every time regardless of the pips gained or the risk (stop). Now, this is a problem, the one bad trade will kill you so you cannot use a open stop. Next is the problem of making 5%, when you have a $1000 account you only need to make $100. So one 100 pip move at $1 will do it. But that 100 pip move is hard to find to be 100% sure, what about a 40 pip or a 20 pip move? Sure much easier to find, but now to make 5% on a 20 pip move you are risking $5 per pip trading the DAX or SP500 you are running into margin issues. Also you cannot hold a trade that moves against you, as you will suffer a margin call.

So the paradox is clear the smaller the move the easier it is to find, but the more you have to risk to make your 5%. You other way you could do this is you brake your 100 pip trade up into 5 blocks going for 20 each time or even look at another market. From what I have seen of people that have made money in a short period of time they have always gone for small pips kept risk small and traded multiple times.

So my challenge would be lets see if we can identify the 99.9% sure trade that will yield 20 pips and approach this correctly.
  • #2,190
  • Feb 12, 2017 7:53am Feb 12, 2017 7:53am
Hurst ,
5% of 1000 is 50 , not 100.
With 2 mini lots thats 25 pips .
If you can find a setup that wins every time keep it secret , you'll be the next forex millionaires in 2 weeks or less.
If you're a short term intraday guy:
What you can do is paper trade your system until your win /loss ratio is at least 60-65% over batches of 100 trades.
Improve your entries , keep your losses very low , dont wait until SL hit , if goes against you admit you were wrong , get out.
Good entry , entry , entry is the name of the game.
Forget exit , if you know how to enter you will know how to exit as well. Entry is the hard part.
If you have a good entry skill even if you're dead wrong you can get out with 2-6 pips loss .
If you enter 8-10 pips late ,you're toast even if it goes your way because pull back is on the horizon , youll freak out and close your position.
Take whatever you can , even 1 pip , 5-7, 10 -16 .
Repeat...
  • #2,191
  • Feb 12, 2017 10:35am Feb 12, 2017 10:35am
Quoting marcof91
20 trading days Making 5% each day and compounding Turns 50 bucks into 2 million in 1 year Sure it's possible but to a certain degree. I would quit my job at 100K and would go to full time trader averaging 0,5%/day = 500. {image}
Sounds good....That's the name of the game. If you can ever say to your employer 'sorry its not cost effective for me to work here anymore' ......
Then you've made it.
  • #2,192
  • Edited 4:14pm Feb 12, 2017 3:09pm | Edited 4:14pm
Quoting todor113
Hurst , 5% of 1000 is 50 , not 100. With 2 mini lots thats 25 pips . If you can find a setup that wins every time keep it secret , you'll be the next forex millionaires in 2 weeks or less. If you're a short term intraday guy: What you can do is paper trade your system until your win /loss ratio is at least 60-65% over batches of 100 trades. Improve your entries , keep your losses very low , dont wait until SL hit , if goes against you admit you were wrong , get out. Good entry , entry , entry is the name of the game. Forget exit , if you know how...
YES....you need to create a realistic replay function, that uses the data from your broker, so you get used to how they manipulate their feed, pauses, etc...I know Ninjatrader has that function, but you need a year's worth of data, and replay at as fast a multiple as you can handle (8x, 16x), and even when you are trading live, do an hour's replay at 16x of several different days with different types of volatilities, to get your brain ready, before you start trading for the day.
  • #2,193
  • Feb 12, 2017 3:30pm Feb 12, 2017 3:30pm
Quoting Owl
I want all them bloke plonkers who scream and cry about the impossibilities and improbabilities to try to tell that to someone who won the 10 million or 100 million dollar lotto playing their "lucky numbers"....
This is such a moronic post. Shows why retail forex traders are pikers.
  • #2,194
  • Feb 14, 2017 1:45am Feb 14, 2017 1:45am
On his way to glory,at least is locked in profit.
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  • #2,195
  • Feb 14, 2017 2:47am Feb 14, 2017 2:47am
Quoting marcof91
On his way to glory,at least is locked in profit. {image}
Target hit.
28,5% return
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  • #2,196
  • Feb 15, 2017 5:39am Feb 15, 2017 5:39am
Took the news as a driver.
Just locked in profit at 10€. Or give me 90€ (100%) or 10€.
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  • #2,197
  • Feb 15, 2017 6:28am Feb 15, 2017 6:28am
Quoting marcof91
Took the news as a driver. Just locked in profit at 10. Or give me 90 (100%) or 10. {image}
God damn you AU.
Exited at 16 profit. (17,4%)
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  • #2,198
  • Feb 15, 2017 7:41am Feb 15, 2017 7:41am
Quoting marcof91
{quote} God damn you AU. Exited at 16 profit. (17,4%)
Ha! I think your enjoying this more than you thought! Well done mate.
  • #2,199
  • Feb 15, 2017 9:56am Feb 15, 2017 9:56am
Quoting Sparkoz
{quote} Ha! I think your enjoying this more than you thought! Well done mate.
Is those weeks where i don't play almost nothing with my main account because there's not good setups for the week,at least for my style.
This fun account just doubled in one week.
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  • #2,200
  • Mar 16, 2017 1:39pm Mar 16, 2017 1:39pm
only dumb money uses hard stop losses
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