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 Time to kick start this thread with an up date. Recently, I put £400.00 into an ...

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Old Aug 30, 2015, 6:04pm   #61
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Originally Posted by Aston1st View Post
Time to kick start this thread with an up date.

Recently, I put £400.00 into an account, traded it on day one and managed to gain £640.00 profit. Withdrew £550.00 then the next day gave back all but £100 in my account!

I left my original capital of £400.00 in my bank, and added the £150.00 to the £100 remaining.

The news wires have been full of China this Week. I trade the DAX and have been expecting it to fall since the Greek saga last July unfolded.

I have managed to trade the £250.00 up to a wapping £11,000 since Friday the 21st August. I had a major loss last Friday of £1300.00 So I am £9,700 up overall I have taken £5600 out of that account to pay down some bills and turn paper profit to hard cash.

There were times that although I was bullish,I still took a short position. I am very promiscuous as a trader so don't end up marrying a losing position for long. I have done a 179 round turns so far.

Overall I have turned my £250 into £5600 ( i.e into hard cash) with the paper profit of £4100 still in the trading account.

So this September my starting capital will be £4,100

My goal is to turn this into £30,000 by 1st October. I'll let you know how I got on in October
Hi
I wish you a great deal of good fortune.
In my own trading i use Bollinger bands, pivots and EMA 57 i would hazard you
use the same?
I prefer to trade Dow jones afternoons and Dax up to 11am and only use 5 minute advanced charts.
all the best Michael
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Old Aug 30, 2015, 11:21pm   #62
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Aston1st started this thread
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Originally Posted by COINMOUNTAIN View Post
Hi
I wish you a great deal of good fortune.
In my own trading i use Bollinger bands, pivots and EMA 57 i would hazard you
use the same?
I prefer to trade Dow jones afternoons and Dax up to 11am and only use 5 minute advanced charts.
all the best Michael
Cheers Mucker, I use the Pivot's I shall definitely use the Bollinger bands as you suggested and look at the EMA although I am very much into Point and Figure, and once the funds are up the order book flow.

Shall keep those interested posted at the end of the month. Unless I blow up before then. Or hit my target of course
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Old Sep 1, 2015, 8:38pm   #63
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Aston1st started this thread Well a brilliant start to the challenge, managed to be down on the day £3,200.00! Was trading between +/- £300.00 from 08:45 to around 18:00 hours before I got tumbled out. Having spent the whole day in this mode I just said to hell with the daily stop and got seriously wounded ( not killed though).

Apart from the obvious - Money Management.

What kills me is when there is a substantial gap as in today's DAX. It really prejudices my thoughts in what direction the main move will be. One just cannot shake off the feeling when the gap is 250 ticks.

With a draw down like this it's going to be a fight to break-even let alone my original objective!

One interesting point today has been the number of re quotes I have had with the trading platform ( 5) I am thinking of moving the small funds to prospreads but shall wait and see how things pan out.

Radio silence until the account has blown completely, broken even or hit my target!
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Old Sep 2, 2015, 8:01am   #64
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Aston1st started this thread Broke a rule and keep a position on overnight, give me an additional £500.00. Extra caution as Two Gap's today one above and one below the price.
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Old Sep 5, 2015, 3:59pm   #65
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Aston1st started this thread After a horrendous start on Tuesday, I managed redeemed myself on Non Farm Pay Roll yesterday.

I used some of my reserve trading funds and leaned on them until it paid off, then withdrew the reserves. Still having to get to break even.

One of things I learned the last time was whenever one is up;

1/33 goes to you to spend on anything

1/33 goes into a reserve account for trading ( where the market cannot touch it,)

1/33 Stays in the account to build your size up.

Even though I am not at break even ( £1800) , I still try and stick to this formula as I repair the account.

See attached.
Attached Thumbnails
non-farm-pay-rolls-4th-september-2015.jpg  
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Old Sep 6, 2015, 10:18am   #66
 
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Play on, playa
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Old Sep 7, 2015, 12:11pm   #67
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Aston1st started this thread Kelita,

Please hijack another thread or start one of your own. Moderators please moderate this.

Currently short 10@10153
Stop 10180

Exit I 10055 ( pivot)
Exit II 9950 Last weeks gap closed.

May bottle it if it goes up fast and take some off the table.

Attached is today's Chart and last Fridays NFP trading performance ( No of Trades + Profit\Loss)

13:14 I have added £5.00 @ 10079 and brought my stop down to 10120 if I am stopped out shall finish for the day.
Attached Thumbnails
7th-septemeber-2015-.png   nfp-september-2015.bmp  
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Old Sep 8, 2015, 2:35pm   #68
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Aston1st started this thread Short DAX 15@10331
Stop DAX 10372 for 15
Exit I DAX 10021 ( This would be the close of yesterday's Gap)
Exit II DAX 9830 ( An Old Gap from last week- Greedy but it's there)
Exit III DAX 9650 ( An even earlier Gap from the Chinese turmoil for very patience sitting on hands swing traders.)

The risk to high took 5 off at 10333.
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Old Sep 8, 2015, 3:21pm   #69
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Aston1st started this thread Went back in just before the US Labour Market Index with an average of 10333 at 15 a tick. Sticking with the stop if at 16:00 magic charts look positive.

The Accepting the risk element of my trading strategy is the most challenging part.
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Old Sep 8, 2015, 4:08pm   #70
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Aston1st started this thread Top of the Hour 16:00 and my magic charts ( 60 mins on the DAX ) are quite indeterminate. Still in the trade. Looking for inspiration I read my traders bible:

" Reminisces of a Stock Operator"


" After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance."

Jesse Livermore

As a Day Trader this is very hard advice to follow but I am going to grin and bear it for the moment.

Market on the DAX : 10281
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Old Sep 8, 2015, 5:02pm   #71
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Aston1st started this thread Was down last night £150 as I was stubborn in thinking the price was going to drop despite the US on Holiday. It keep raising and I give up before market close.

My Magic chart's ( the Point and Figure) ( see attached) have given me the levels which I shall take note of. Will bring my stop down 10 ticks below my entry level. So guaranteed a winning day.
Attached Thumbnails
8th-septemeber-2015-2.png  
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Old Sep 8, 2015, 6:42pm   #73
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Aston1st started this thread Alas, this alone will not push the market down!
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Old Sep 8, 2015, 7:34pm   #74
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Aston1st started this thread Out at 10308!
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Old Sep 8, 2015, 8:16pm   #75
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Aston1st started this thread Short DAX 15@ 10322
Stop DAX 10372 for 15
Exit I DAX 10021
Exit II DAX 9830
Exit III DAX 9650

Jobbing around down 5 ticks in all.

Write out a 100 times "Accept the Risk".

Some bird ( Misfortune) keeps asking if I want to stay overnight with her?
Shall do but with a Condom ( Stop loss)
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