How I turned £3000 into £20,000 in 6 Weeks

This is a discussion on How I turned £3000 into £20,000 in 6 Weeks within the Discretionary Trading forums, part of the Methods category; Originally Posted by Aston1st The problem with your friend is all in his mind. Which is where the problem is ...

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Old Jun 6, 2011, 3:16pm   #25
 
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Re: How I turned £3000 into £20,000 in 6 Weeks

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Originally Posted by Aston1st View Post
The problem with your friend is all in his mind. Which is where the problem is with the majority of traders.

I so often could flip £200.00 into £800 - 1,000 in a day. Then once I reached £1,500 would hand it all back to the the market. Because some where in my brain I was telling myself that gaining more than £1,500 a day or two is not right or possible for me.

What gave me the break through was to look at :

200 - 1000 as one unit.

400 - 2000 as one unit

2000 - 10,000 as one unit

10,000 - 50,000 as one unit

scaling the size as the margin requirements are achieved.

To reduce risk half the unit's.

Not sure if I am making sense here but it works for me.


" I so often could flip £200.00 into £800 - 1,000 in a day. Then once I reached £1,500 would hand it all back to the the market. Because some where in my brain I was telling myself that gaining more than £1,500 a day or two is not right or possible for me "


- no the reason u gave £1500 back to the market is because u have NO discipline !!
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Old Jun 6, 2011, 3:22pm   #26
 
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Re: How I turned £3000 into £20,000 in 6 Weeks

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Originally Posted by russellsaunders View Post
Hi

"How I turned £3000 into £20,000 in 6 Weeks"

Wow. What a story... I'm just starting in Forex and just want to make £150 a day (for now).

To think of doing what you did is both exciting and scary,.

what you " want to make " - and " what the market will give you " - are two totally different things !!
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Old Jun 6, 2011, 3:37pm   #27
 
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Re: How I turned £3000 into £20,000 in 6 Weeks

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Originally Posted by Doomberg View Post
Yeah but lets face it, none of us are going to be stuck in the desert any time soon dying of thirst

However being 25 and still not being to afford a Ferrari is a major inconvenience

no, but if you learn to trade correctly and let your account " COMPOUND " - you will be able to buy anything you wish - sooner than you " think " is possible !!
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Old Jun 6, 2011, 8:35pm   #28
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Re: How I turned £3000 into £20,000 in 6 Weeks

Aston1st started this thread Rogue Trader.

How much did you earn trading in your first year of trading ?

How much do you earn per month on average over the last 12 months ?

a: £10,000 per month

b: £20,000 per month

c: £30,000 per month

d; £50,0000 per month

f: £60,000 per month +

presuming, as you have , you are trading full time. How many hours per week do you put in ?

And what clip size or outright position size do you usually trade?

Last edited by Aston1st; Jun 6, 2011 at 8:46pm.
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Old Jun 6, 2011, 8:39pm   #29
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Re: How I turned £3000 into £20,000 in 6 Weeks

Aston1st started this thread
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Originally Posted by theroguetrader View Post
" I so often could flip £200.00 into £800 - 1,000 in a day. Then once I reached £1,500 would hand it all back to the the market. Because some where in my brain I was telling myself that gaining more than £1,500 a day or two is not right or possible for me "


- no the reason u gave £1500 back to the market is because u have NO discipline !!
Correction:

The reason I gave £1,500 back to the market back then is because I had a mental block on the amount I could or should earn trading. This is based on my own experience.

I am still learning. You always are in trading, that's what Jesse Livermore used to say.
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Old Jun 6, 2011, 9:36pm   #30
 
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Re: How I turned £3000 into £20,000 in 6 Weeks

It always makes me cringe when people quote Livermore as if he was some trading god. Please be better than that.
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Old Jun 6, 2011, 10:13pm   #31
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Re: How I turned £3000 into £20,000 in 6 Weeks

Aston1st started this thread
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Originally Posted by Masquerade View Post
It always makes me cringe when people quote Livermore as if he was some trading god. Please be better than that.
I mentioned Livermore as he was a man who made a lot of trading mistakes.
His worst trade was marrying a woman who's four previous husbands all committed "sucide"

Last edited by Aston1st; Jun 6, 2011 at 10:20pm.
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Old Jun 6, 2011, 10:22pm   #32
 
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Re: How I turned £3000 into £20,000 in 6 Weeks

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Originally Posted by Masquerade View Post
It always makes me cringe when people quote Livermore as if he was some trading god. Please be better than that.

up $5m in 1940 after loosing $100m isnt so bad !! - sounds better than staying in to watch britains got talent and a cheap crate from asda anyday !!


he didnt even use a computer - pretty amazing id say !!
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