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Turning $800 into $1 million in 1 year

  • #21
  • Jun 6, 2017 6:23am Jun 6, 2017 6:23am
Pretty sure most of us here have the same dream..I've tried one round account ytd... crashed and burned instantly the next day by yen strength :/
Was calling a bluff on the yen rally due to the apparent rise in nominal income. I was wrong.

Anyway, kudos to trading live and not being afraid to share
Muahahahhahah...
  • #22
  • Jun 6, 2017 7:15am Jun 6, 2017 7:15am
It is achievable to those that know how, once your account grows to your financial limit, it becomes challenging, Best of luck mate!
  • #23
  • Edited 8:23am Jun 6, 2017 7:28am | Edited 8:23am
Quoting brody477
Mate I hope you do get lucky enough for it to keep working for the whole 52 weeks and you withdraw that million to buy a house. My 2 cents, why do beginner traders always fall into the grid/martingale trap, I know I blew up two 2k accounts on it and I swear I have seen at least 30 blown up accounts on here too. I wonder if its just the psychology of seeing that 1million in a year and backtesting working (as it always loves to lie to you). I give this account 6 more weeks before it blows, but again just my 2 cents or 4k .

Because in life, if something is very unlikely, it's considered to be safe. In forex, when we are noob, we prepare to martingale with the expectation that the unlikely will not happen, only problem is, that even if something is 99% certain in forex, that other 1% will occur, that's why we all fail as noobs, we just don't truly expect the very unlikely to occur.

This doesn't mean raphaelfx is a noob, he could have allocated a small amount of money away and traded it this way on the off chance that it was successful, much like buying bitcoin 7 years ago.
HMSR
  • #24
  • Jun 6, 2017 7:33am Jun 6, 2017 7:33am
Difficult one... JPY is getting smashed!

Dollar might now hold out... tough call mate! Good luck!

Me... close long.... hold short and add short as 140.00 is gonna get hit defo!
  • #25
  • Jun 6, 2017 9:07am Jun 6, 2017 9:07am
Quoting brody477
Mate I hope you do get lucky enough for it to keep working for the whole 52 weeks and you withdraw that million to buy a house. My 2 cents, why do beginner traders always fall into the grid/martingale trap, I know I blew up two 2k accounts on it and I swear I have seen at least 30 blown up accounts on here too. I wonder if its just the psychology of seeing that 1million in a year and backtesting working (as it always loves to lie to you). I give this account 6 more weeks before it blows, but again just my 2 cents or 4k .
Well, I don't like to put a label on my trading because I think it's unique. I'm just simply trading and trying to make money. I'm not in particular using x strategy, or y system. Martingale it definitely is not. Doesn't with martingale you need to double systematically as the price goes against you? Because I don't do that, it's usually the opposite, when things start to look scary I start to risk LESS.

But I do keep adding depending on the occasion, and that's why it might resemble that I'm doing grid. Which is sort of what it looks like right now, so I can understand the comparison. Those were just bad entries. When I entered them, I didn't have in mind that I was forming a grid. I'm not even trying to average out actually. Each one of my entries I see them as individually and they are meant to be closed individually. What you it might look like I'm doing grid, I actually call it maximizing profit.

Now the reason I'm still holding those losers, is that I still believe that I'll be able to turn them into profit. Otherwise I'd have closed them. I can take losses, no problem. And this "belief" is based on technical analysis that I do here.
  • #26
  • Jun 6, 2017 9:12am Jun 6, 2017 9:12am
Quoting Piquant
What lot are you trading and how do you plan on increasing the lot size ? It's going to be extremely hard but it can be done if you put your mind to it I also want to set a challenge for myself. Seeing people like you do it motivates me, inspires me. Btw 15% per week is very doable, in fact easily achievable if you stick by your method and not mess things up.
I'll increase margin used as the account grows. Simple as that. I'm always thinking in percentage, I'll do best to try to keep margin used under 10% of the total equity.

As you can see right now, I'm breaking this rule a bit.

The more I grow, the less I'll have the need to risk.
  • #27
  • Jun 6, 2017 9:20am Jun 6, 2017 9:20am
Quoting guess121
Difficult one... JPY is getting smashed! Dollar might now hold out... tough call mate! Good luck! Me... close long.... hold short and add short as 140.00 is gonna get hit defo!
I'm in a bit of trouble right now, but I'll do my best to try to get myself out of the situation unharmed.

I still have some evidence (based on technical analysis) that I'll be able to close both sides for profit. I'm just being patient right now, waiting for the right moment to attack.
  • #28
  • Jun 6, 2017 9:45am Jun 6, 2017 9:45am
Quoting raphaelfx
{quote} I'm in a bit of trouble right now, but I'll do my best to try to get myself out of the situation unharmed. I still have some evidence (based on technical analysis) that I'll be able to close both sides for profit. I'm just being patient right now, waiting for the right moment to attack.
Excellent! Good luck my friend... I hope you do! Also don't forget Thursday, UK Elections... might have an impact on the markets... I think it has already been priced in... Theresa May is not going to do too well!

If she does then GBP might rocket up.
  • #29
  • Jun 6, 2017 11:27am Jun 6, 2017 11:27am
I think you might be right about GBPJPY going back up. When Feds raise interest rates next week I think gold and YEN are going down for a bit and I don't think the market has been priced in yet. Seems like USD been dropping on all currency's and were getting very close to the rate change.
  • #30
  • Jun 6, 2017 1:21pm Jun 6, 2017 1:21pm
Hopefully you recover soon as most brokers margin requirements change on Wed/Thurs for GBP general election, best of luck.
  • #31
  • Jun 6, 2017 7:14pm Jun 6, 2017 7:14pm
Good luck buddy......
  • #32
  • Jun 6, 2017 7:19pm Jun 6, 2017 7:19pm
Quoting raphaelfx
{quote} I'm in a bit of trouble right now, but I'll do my best to try to get myself out of the situation unharmed. I still have some evidence (based on technical analysis) that I'll be able to close both sides for profit. I'm just being patient right now, waiting for the right moment to attack.
Good luck mate, hope the margin can hold
Ngono yo ngono, neng ojo ngono - Unknown
  • #33
  • Jun 6, 2017 9:17pm Jun 6, 2017 9:17pm
Your Drawdown is too high, this tells me that your account wont be able to stomach big moves. Figure a way to Keep your Max drawdown at worst case below 30% and average Drawdown below 10% while maximizing profits.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #34
  • Jun 7, 2017 1:45am Jun 7, 2017 1:45am
Quoting Soros
Your Drawdown is too high, this tells me that your account wont be able to stomach big moves. Figure a way to Keep your Max drawdown at worst case below 30% and average Drawdown below 10% while maximizing profits.
I'm working on that. The more I grow the account, the less I'll risk.

Since I started with a small capital, I had no choice but to take some risks to be worth my time trading. That means that any small mistake I made, it resulted in big drawdowns.
  • #35
  • Jun 7, 2017 2:45am Jun 7, 2017 2:45am
Quoting raphaelfx
{quote} I'm working on that. The more I grow the account, the less I'll risk. Since I started with a small capital, I had no choice but to take some risks to be worth my time trading. That means that any small mistake I made, it resulted in big drawdowns.
Sir what i am saying is that you can produce similar results if not better while only having 5-15% average DD and 30% max DD and where 85% of the time at the end of NY Session you are flat.. This is very important, why? example is Thursday there is EU Elections, and we can see Insane moves, so its either you will make a shit load of you might get wipped out, also broker margin will shrink, so your'e literally screwed, so it helps to take DD into consideration when creating a system and also having a Parachute "Should the Plane encounter any issues you can get out unharmed"... My advice is that if you make it out alive after election and hopefully on a profit you must withdraw the funds and get back to the drawing board, only come back when your method is solid because right now it seems to have many holes.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #36
  • Jun 7, 2017 2:51am Jun 7, 2017 2:51am
Quoting Soros
{quote} Sir what i am saying is that you can produce similar results if not better while only having 5-15% average DD and 30% max DD and where 85% of the time at the end of NY Session you are flat.. This is very important, why? example is Thursday there is EU Elections, and we can see Insane moves, so its either you will make a shit load of you might get wipped out, also broker margin will shrink, so your'e literally screwed, so it helps to take DD into consideration when creating a system and also having a Parachute "Should the Plane encounter...
In the worst case scenario I'll be hedged (same pair) during election, so I'll be fine.
  • #37
  • Jun 7, 2017 2:59am Jun 7, 2017 2:59am
Quoting raphaelfx
{quote} In the worst case scenario I'll be hedged (same pair) during election, so I'll be fine.
They Never Learn Hey..... Anyway bro i just wana say i Love you and i wana see u win, Some Lessons Can Never Be learnt over a conversation but Rather it needs First hand Experienced in order to be fully Grasped.

All the Best Though!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #38
  • Jun 7, 2017 3:06am Jun 7, 2017 3:06am
Quoting Soros
{quote} They Never Learn Hey..... Anyway bro i just wana say i Love you and i wana see u win, Some Lessons Can Never Be learnt over a conversation but Rather it needs First hand Experienced in order to be fully Grasped. All the Best Though!
Thanks man.

I love you too.
  • #39
  • Jun 7, 2017 3:50am Jun 7, 2017 3:50am
Hi raphaelfx

For me this is (the Holy Grail) a crucial point. Discipline.
abokwaik "Once you hit your daily pip target, close everything and leave. Don't ever check the charts again that day, specially using your smartphone, market is so tempting, more than a sexy girl. It will tempt you to over trade and loose your gains if not more."


Try to get your goal or near and get out of the market.

$800 3,0% daily in about 1 year 1M
$800 2,0% daily in about 1 and half year 1 M
$800 1,0% ......
$800 0,5% ......

Not an easy task but slowly we go far.

All the luck
The funniest, is that nobody takes me seriously.
  • #40
  • Jun 7, 2017 3:55am Jun 7, 2017 3:55am
Quoting raphaelfx
{quote} I'm in a bit of trouble right now, but I'll do my best to try to get myself out of the situation unharmed. I still have some evidence (based on technical analysis) that I'll be able to close both sides for profit. I'm just being patient right now, waiting for the right moment to attack.
You're in trouble because you trade pound long term!!!
Yes i know first-hand
And buying pound?!?!?

It's the sickest craziest currency, aussie next...
Cad next....

Avoid as plague.

All my blown accounts - thanks to pound.

You seek logic - haha.

Some say small frames are OK.....
Just trying to help.
Beware of robber banks (RB), bad advisors.
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