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; In the long term I'm expecting price to decline as well but maybe not time yet for long term shorts, ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Sep 8, 2015, 11:04pm   #76
 
turboonostrilvision's Avatar
Joined Dec 2010
In the long term I'm expecting price to decline as well but maybe not time yet for long term shorts, from next month it might be.
__________________
Most brokers I trade with I get some money back for spread, nice addition to trading profits and also way to build passive income. Traders can boost forex income
turboonostrilvision is offline   Reply With Quote
Old Sep 9, 2015, 7:46am   #77
Joined Jun 2005
Aston1st started this thread Oh boy, so much for my magic charts! Bloody Chinese officials coming out with solutions to their economy's woes. Still bearish but having to watch the market very carefully.
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 9, 2015, 4:13pm   #78
Joined Jun 2005
A Chinese Take a Way

Aston1st started this thread So another disaster. Yesterday I sat on a £1,000 profit expecting the market to go lower only for it to float upwards. The day before that did the same but with a £650 profit, ending up -£150 down. Note to self, if more than £500 pay yourself.

Still convinced it was on a downward path i bedded Miss Fortunate with a large condom ( Stop) and catch it bad. Was stopped out at around 400 (15 a tick) used the reserved funds and shorted it at 414 only for the market to spike upwards to the 500 level. Painful. Shorted yet again around the 460 mark and am holding until I am stopped out at 500 or my initial target reached at 10050. Only now trading at £10.00 a tick.

So many bad decisions made on this one. Poor discipline and fixated on these GAPS which always prejudice my view of where the market is going. Only in adversity do I come to my senses and trade properly. I can expect this until the break through.

Attached is a a copy of my "Magic Chart" on the DAX. The magic did not tell me about the Chinese "Take a Way" ( of my account).

A masterclass in Trading mistakes - in reality it's more about own limitations. Still if 10050 then I will be able to have a clearer head.
Attached Thumbnails
9-th-septemeber-2015-chinese-take-way.png  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 9, 2015, 7:58pm   #79
Joined Jun 2005
Aston1st started this thread Contact Wait Out:
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 9, 2015, 8:17pm   #80
Joined Jun 2005
End of Day after the Chinese Take a Way

Aston1st started this thread SITREP:

Had to use my most nerve racking trade in my quiver of Trades, it's called:

"The torpedoed ship sailing into port trade."

Essentially, you start the day with a mega Crash, then the Market allows you to get your bearings, however, you must be 100% committed to the trade, no jobbing around it ( limited jobbing at the most) then Believe, Believe, Believe. This is not wishing, hoping or praying but assessing the probability and acceptign the risk.

To recap, stupidly placed an over night position and wiped out my £1300.
Then Jumped in for some revenge trading to recover my loss only for the market to smash me with another £15.00 a tick x 100 loss.

At one stage I was looking at a mere £750 on the account!

If only today was yesterday. Nonetheless I am up on the day and from yesterday. But a long way to being flat from the start. But lots of lessons relearned.

Don't mess about with the Market.

Attached is my End of Play and Trade Entries ( it was 10460 at £10.00 not 360)
Attached Thumbnails
chinese-take-way-iv.jpg  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 9, 2015, 8:39pm   #81
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Hi Aston1st,
A couple of questions if I may . . .
1) Are these trades demo or for real?
2) Am I right in thinking you're using a spread betting firm and, if so, just curious to know why you go to the expense of e-Signal?
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is online now   Reply With Quote
Old Sep 9, 2015, 8:42pm   #82
Joined Jun 2005
Special Request from Miss Fortune

Aston1st started this thread
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 9, 2015, 8:46pm   #83
Joined Jun 2005
Aston1st started this thread
Quote:
Originally Posted by timsk View Post
Hi Aston1st,
A couple of questions if I may . . .
1) Are these trades demo or for real?
2) Am I right in thinking you're using a spread betting firm and, if so, just curious to know why you go to the expense of e-Signal?
Tim.
Hi , yes I trade live.

I use E-signal to make sure i am trading of the exchange traded prices. The Squawk also is helpful some times sort of acts like a somebody looking out for the News and Colour flow. When starting it's pricey with a small account. But nothing gets your attention more than when the announcer says: "1 Minute to go" and your like "1 Minute for what and you make sure you don't put that trade on.

Once I manage to bug out and get to the foothills I shall move to prospreads then Trading Technologies for my trading platform to trade off the ladders.
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 10, 2015, 7:12am   #84
Joined Jun 2005
The First Stop is the CHEAPEST

Aston1st started this thread As paraphrased by Matt to the traders: "The first Stop is the Cheapest".

Gonna use this as my mantra



Yesterday's trading activity attached.
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!

Last edited by Aston1st; Sep 10, 2015 at 7:24am.
Aston1st is offline   Reply With Quote
Old Sep 10, 2015, 9:34am   #85
Joined Jun 2005
Aston1st started this thread Had shorted at 10237 £5.00 a tick and hit hard with the rise. Currently:

Short DAX 10@10251
Stop DAX 10295 for £10.00
Exit DAX 10050 for £10.00

Time Stamp: 09:35
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 12, 2015, 10:10pm   #86
Joined Jun 2005
Aston1st started this thread Okay I am calling Endex to my initial goal of £4,000 into £40,000 by month end.
Nothing like putting undue pressure on yourself. Still it has been a great exercise in self discovery.

Summarize, I started with a small stake of £400.00 and flip up fantastically. Using the same ratios but cutting them in half I thought it realistic transform £4,000 into £40,000.

What I have found really frustrating is the following:

1. Gaps, whenever there is a GAP my trading becomes prejudice in terms of the direction I believe the market will be going which inevitably means the GAP will be filled.

2. Based on the above, there have been times I have not taken a profit. Last Monday I did not take a profit of £500 and took a loss of -£160. Then on Tuesday I did not take a profit of £1,000 but ended up with £160.00. Wednesday could have been a nightmare but turned out okay. And yet Thursday ( see attached 10th of September) laughably I was so busy trying to post this that I the market had turned against me and I ended up with a loss of -£1100.00 that really pissed me off. Friday just bad news.

3. Yet despite all the negativity my Endex performance is still by any measure pretty good. It's just that things could have been much much better.

4. Why?

The obvious finger to point would be a lack of self discipline. However, while this is a possible factor the real reason I believe is a "Fear of Success" the need to get a break through in thinking that it's perfectly fine to be generating profits of £1,000 - £2,000 a day. Possibly sub consciously I don't believe it which is why time and time again I give back profits when I don't need to. Definitely something to work on.

5. The best thing that I have done is to withdraw profits from the account when the going is good. the 1/3 rule ( 1/3 in a reserve account, 1/3 remain in the trading account and 1/3 to spend as one wishes). on the endex graph I have £2500 remaining ( reserve account) and I withdrawn the remainder.

6. Notes on the Endex Sheet: The Gross Profit and Loss column is simply the actual P&L I had in the account at the time I finished traded for the day. The Number of Trades are round trips = 1 Trade they are part estimation and some are counted from the statement the day after when I receive it. The Commission are not the actual brokers commission which would be a lot more.

I am taking time out on the sim before I trade with my reserve account.

If any of the moderators wish to verify my trading performance over this period that will be a pleasure to prove I have not been bull****ting and also hopefully to allow other traders to see that the mistakes they make are universal but also you can still make money in these markets anyone who is content with 5% returns a year on their capital has lost the plot.

In my opinion it's always better after you have got some experience in place to start with a decent account size £25,000 - 50,000 that way you will not be taking on too much risk. With a £50,000 account size taking £500 - 1000 a day would be **** easy. And it would be at a level where one would stop and say that's a good days pay. Unlike earning £10 -20.00 on £1,000 trading pot.

Happy to answer any questions Traders may have.

And no I don't believe in risking just 3% of my capital per trade.

Good luck - Roger and OUT.

__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 13, 2015, 8:22am   #87
NVP
 
NVP's Avatar
Joined Jun 2004
very interesting to read the thread A1.......brutally honest it seems ....so hats off to bearing your trading soul ......of course every trader here reading this will have opinions and views on what you are doing

for me all I say is good luck to you and follow your own trading path .....its your money so go for it

N
NVP is offline Coach/Trainer   Reply With Quote
Thanks! The following members like this post: Oscar Reed
Old Sep 13, 2015, 12:19pm   #88
Joined Jun 2005
Aston1st started this thread
Quote:
Originally Posted by NVP View Post
very interesting to read the thread A1.......brutally honest it seems ....so hats off to bearing your trading soul ......of course every trader here reading this will have opinions and views on what you are doing

for me all I say is good luck to you and follow your own trading path .....its your money so go for it

N
Cheers NVP.
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Sep 13, 2015, 1:11pm   #89
tar
 
tar's Avatar
Joined Nov 2006
Quote:
Originally Posted by Aston1st View Post
Okay I am calling Endex to my initial goal of £4,000 into £40,000 by month end.
Nothing like putting undue pressure on yourself.
No kidding
tar is offline   Reply With Quote
Old Sep 17, 2015, 6:48pm   #90
Joined Jun 2005
FED Interest Rate Decision

Aston1st started this thread Switched to Prospreads, bobbing along, flat. Have tried to stay out of the Market due to the Fed.

My point and Figure Charts show lot's of congestion over the last few weeks in the build up for this.

Hmmm my magic charts are telling something.

Question is do I take the trade?
Attached Thumbnails
fomc-announcment.jpg  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
$800 to $350,000,000 in 2 weeks!!! RogerM Educational Resources 40 Sep 8, 2017 10:33pm
How long will it take to turn $5,000 into $0? DeltaGuy Psychology, Risk & Money Management 1 Feb 20, 2005 2:32pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)