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 Strategies are like Suits. A Bespoked Suit always looks feels and wear's better than one off ...

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Old Aug 17, 2011, 7:14am   #49
Joined May 2011
Re: How I turned £3000 into £20,000 in 6 Weeks

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Originally Posted by Aston1st View Post
Strategies are like Suits.

A Bespoked Suit always looks feels and wear's better than one off the peg!

Therefore in order find a good one which suits your personality.

You have to work out your own Strategy for it to feel right for you.

True true.

Thanks and keep us updated how you progress.
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Old Dec 9, 2011, 11:26pm   #50
 
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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
He's right, you have to get incredibly lucky to build an account that fast and he knows it. He's just cheating variance and was smart enough to realise that. You could try trading that way but chances are you'll bust an account numerous times trying.
What does it mean to cheat variance?
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Old Dec 10, 2011, 3:10pm   #51
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Re: How I turned £3000 into £20,000 in 6 Weeks

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Except he went bust numerous times, had a massive ego and blew out his brains. He was just very lucky.
Really?
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Old Dec 10, 2011, 5:17pm   #52
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Re: How I turned £3000 into £20,000 in 6 Weeks

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Originally Posted by Benjam1n View Post
What does it mean to cheat variance?
Imagine that you have £10,000 and you head into the casino. You stick the whole lot on 'Red' and it wins. You now have £20,000. You take the whole lot and stick it on 'Black' and it wins again. You now have £40,000. You can see that this would not be impossible, it's a plausable series of events. However it is not sustainable in the longer term. Sooner or later you'll lose the whole lot. However, in the meantime, you have £40,000 which represents a £30,000 profit or 300% return on your initial investment. Now, given that the game of roulette is a game which gives a slight edge to the casino, doesn't mean that the players never win or have a series of wins just like our chap who now has £40,000. In this situation our player could be said to have 'cheated variance' (in the context which the original poster made the comment). Technically it is not a 'cheating' of variance as such, it's more a case of 'plain luck' which has occured because 'variance' exists.

Steve.
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Old Aug 30, 2015, 1:48pm   #53
Joined Jun 2005
Aston1st started this thread 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
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Old Aug 30, 2015, 2:08pm   #54
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Yikes.

But why not? - it was an easily replaceable deposit so why not trade exceptionally aggressively through exceptional volatility?
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Old Aug 30, 2015, 2:17pm   #55
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I would concentrate on becoming a successful trader - properly - than growing a trading pot fast .

If it goes well now most likely you will continue trading that way and when u achieve a big pot , time will come for the market to take everything back and it will hurt big time - health , socially , credit ... etc - .
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Old Aug 30, 2015, 4:01pm   #56
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Aston1st started this thread
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I would concentrate on becoming a successful trader - properly - than growing a trading pot fast .

If it goes well now most likely you will continue trading that way and when u achieve a big pot , time will come for the market to take everything back and it will hurt big time - health , socially , credit ... etc - .
You are correct, you cannot trade aggressively like that all the time and with a big stake. You change tactic's. And size!

However, I need to have a decent grub stake in place and then trade more conservatively. If I am successful I will then be doing more butterfly or 2's/10's spreads than pure outright spreads. I wont be trading the same aggressive manner once the pots a decent size. I am also looking at trading the DAX\Eurostoxx spread, is anyone here doing that one? I have done it on the sim but not too sure of it, otherwise it's the Bund\Bobl\Schatz or Oil Calendar spreads. You need the size to trade with a decent platform to do the spreads in the first place.

It could be argued to trade conservatively from the start but the size of the account means that it would take a long time to grow, Man's gotta eat in between. If I am spending screen time it should pay. By trading on a daily basis my opportunities increase as well as the risk. My graph that you showed was a a great one, but since it was my own equity account I know what the main factors were for the steep decline. From the outside it would appear I was taking on too much risk, but that was only part of the story. The other was travelling back and forth to the Hospital to see my prematurely born twins (three guess which trading day they were born!).

Anyhow, let's see how this pans out.
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