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 I don't post my brokerage statements as I am taking money out regular, I take my ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Mar 5, 2016, 12:42am   #106
 
hhiusa's Avatar
Joined May 2015
Quote:
Originally Posted by Aston1st View Post
I don't post my brokerage statements as I am taking money out regular, I take my P&L at the time I have finished trading whether it's 13:00 or 21:00 hours.

If you don't like the format or don't believe it that's your problem not mine.
This is completely irrelevant.

1. A statement would still show the profitable trades you have been taking.
2. I do not think that anyone cares about your balance. What point are you trying to make about your regular withdrawals from the account. People will still be able to see if you are profitable or not. Beyond that, people can see if you are actually conducting any trading or if you are just another Fomo.

It should look something like this. It shows that a trade transpired without revealing any confidential information.

Click the image to open in full size.
__________________
The problem with socialism is that you eventually run out of other people's money.”
- Margaret Thatcher
hhiusa is offline   Reply With Quote
Old Mar 5, 2016, 12:47am   #107
Joined Jun 2005
Aston1st started this thread That is how I record my trades. I done it this way since having traded at a prop firm ( Where I got the spread sheet from).

That's how I do things. You may do things different as I said whether you believe the P&L or not is your problem not mine.

End of message.
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Mar 5, 2016, 12:52am   #108
 
hhiusa's Avatar
Joined May 2015
Quote:
Originally Posted by Aston1st View Post
That is how I record my trades. I done it this way since having traded at a prop firm ( Where I got the spread sheet from).

That's how I do things. You may do things different as I said whether you believe the P&L or not is your problem not mine.

End of message.
Dino

Quote:
OPTION 1.

1) Enter the time you placed the trade (within 1 minute of taking the trade)
2) Specify the price you entered the trade at
3) Stop Loss level, eg 10, 20 or none.
4) Limit level target or
5) Exit strategy if your limit isn't acheived.
6) Show a screenshot of your entry from your blotter for confirmation of your claim

OPTION 2

1) Identify target areas, eg: long above X levels or short below X level
2) Never confirm the entry price you achieved when you executed the trade.
3) Claim you made X pips/points from trading No 1 above
4) Never state stops or limits
5) Never under any circumstances provide evidence of your claim
6) Continue to claim your an expert.
__________________
The problem with socialism is that you eventually run out of other people's money.”
- Margaret Thatcher
hhiusa is offline   Reply With Quote
Old Mar 5, 2016, 11:35pm   #109
 
Lúidín's Avatar
Joined May 2015
Quote:
Originally Posted by Aston1st View Post
Hewwii,

I have been very occupied for a while so over looked your post. Unfortunately, because as you so eloquently described is what happened to me today. Those silly little mental barriers, that play with your P&L.

Today was a classic as even when I was floundering about knowing that I should stop I could not help myself ( other than having taken monies out the account previously) In short what I lost to day was what was in my account the previous P&L had been withdrawn, so I still have enough to start over again.

I won't bore the forum of my journey only that I seek to start again with £1,000 to grow into a grubstake of £10,000 no time restrictions, but other than some personal expenses I am sticking with the 1/3 rule possibly 1/2 after my Personal Expenses until a reserve has been built up.

Anyhow Hewwii and others thank you for adding your experiences on this thread as they have been very helpful.
don't mind the other idiot..he thinks he knows everything

you gave back way too much and need to adjust your plan..can you give a very quick overview of how and what you are trading..nothing too elaborate..just simple points 123..a few things for you to consider might help you adjust your plan to stop giving back too much when you make it

LN
__________________
Lúidín

in order to get the crock of gold..you must first<>find the right end of the rainbow
Lúidín is offline   Reply With Quote
Old Mar 17, 2016, 3:47am   #110
Joined Jun 2005
Update

Aston1st started this thread Hi Lúidín,

You are so right about giving too much back. I am working on it! I have had some great advice from some of the inputs from some of the guys on this forum. As for the trolls\haters I think it's best to blank them out.

This forum is about sharing my experience with other traders.

I trade the DAX, Spread Bet. On the cheap it's a common spread betting platform. When I have enough then trade on a Level II platform. When trading on a level II platform I will be trading the DAX v EuroStoxx spread.

Generally, I am looking at Pivot Points and Candlesticks on the Cheap, On the Level II and singing and dancing ( Esignal) I am looking at Order flow and Point and Figure. The trading statements that I post the P&L is correct when I have finished trading, the Number of Trades is generally correct but my Cheap SB it's not as easy to count as the Level II ( shows you the round trips).

The last four weeks have been okay and I wanted to write a bit about profits, as i am always writing about losses.

I traded a great trade which netted me
£950 what I liked about it was that when I placed the trade and it came off , I was looking at my screen and the price was fluctuating between 940 - 989 and my old self was saying "Let's wait until it reaches a £1,000 but then my new self said "**** that I have lost so much money trying to round my profits in the Markets!."

On the P&L side I have withdrawn just over £2,000 over the course of the Month. So even if I blow up I have doubled my money.

I started trading £5.00 a tick, £10.00, £15.00 and am now comfortable trading £20.00 ( with over £2,000 in the account). As mentioned before, I assess by taking a 0 off the amount and ask would I trade £2.00 a tick on a £200 account? The answer for me is : " Only if I saw a very high Probability trade i.e DAX raising to 975 from 850 I am putting £20.00 for it to touch 10,000 ( based a Chart pattern and if the 10,000 is just below a pivot). "

Those of you who have read this forum will know I am an aggressive trader, I now have two daily stops. 15% soft stop or 25% HARD STOP! ( this means I have to grow the account by 50% to get back to being flat).

My objective now is to not put time frames on building the account.
Attached Thumbnails
feburary-march-2016.jpg  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!

Last edited by Aston1st; Mar 17, 2016 at 3:54am.
Aston1st is offline   Reply With Quote
Old Mar 17, 2016, 2:14pm   #111
 
Lúidín's Avatar
Joined May 2015
you have what it takes..no fear..but you lack knowledge and discipline..which means you will blow out again..and again..and again

you must use the charts for every trade..start with the 60 min..draw a horizontal line on the high..low..and close..if current price is above the previous high..you should be long..below previous low..short..

just do that and start to look at what happens..but it is of course very important what 60 min bar you use to start..so..for the dax..start with 08:00 bar..then look at 14:30 bar

let us know what you see!

note current US time is 1 hour off..will revert shortly to 14:30
__________________
Lúidín

in order to get the crock of gold..you must first<>find the right end of the rainbow
Lúidín is offline   Reply With Quote
Old Mar 17, 2016, 2:46pm   #112
 
hhiusa's Avatar
Joined May 2015
Quote:
Originally Posted by Lúidín View Post
you have what it takes..no fear..but you lack knowledge and discipline..which means you will blow out again..and again..and again

you must use the charts for every trade..start with the 60 min..draw a horizontal line on the high..low..and close..if current price is above the previous high..you should be long..below previous low..short..

just do that and start to look at what happens..but it is of course very important what 60 min bar you use to start..so..for the dax..start with 08:00 bar..then look at 14:30 bar

let us know what you see!

note current US time is 1 hour off..will revert shortly to 14:30
You want to tell people how to do things but you never start a journal of your own.
__________________
The problem with socialism is that you eventually run out of other people's money.”
- Margaret Thatcher
hhiusa is offline   Reply With Quote
Old Mar 17, 2016, 5:35pm   #113
 
Lúidín's Avatar
Joined May 2015
Quote:
Originally Posted by hhiusa View Post
You want to tell people how to do things but you never start a journal of your own.
sorry..who are you!
__________________
Lúidín

in order to get the crock of gold..you must first<>find the right end of the rainbow
Lúidín is offline   Reply With Quote
Old Mar 17, 2016, 9:12pm   #114
 
itspossible's Avatar
Joined Sep 2014
Quote:
Originally Posted by Lúidín View Post
sorry..who are you!
hes your best pall remember
__________________
Quote:
Originally Posted by piphoe View Post
i'm lying for the attention
Quote:
Originally Posted by piphoe View Post
reloading another "K" next week.
Quote:
Originally Posted by piphoe View Post
you don't really have an orange juice position do you?
itspossible is offline   Reply With Quote
Old Mar 18, 2016, 7:27am   #115
Joined Jun 2005
Aston1st started this thread Hi thought I would post what hhusa was asking - mainly to show you guys the volatility in my account.

On Wednesday I spent the whole day being long in the hope of the FED pushing the markets up. I was in the DAX around 995 looking for it to push to either 1020 or 1063 pivots. It finished around 1005!

Yesterday morning the DAX was up 1054, I cursed myself that I did not hold an overnight then went in Long, who was to know that some Scandinavian bank would move the markets 300 ticks!

Spent the rest of the day trying to pick bottoms or shorting to get my account at least within my daily stop limits.

As you can see I finally did the old: "Torpedoed Ship sailing into harbour trade". How I wish I could spot these types of trades to start with.
Attached Thumbnails
17-march-2016.jpg  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Old Mar 22, 2016, 8:34am   #116
Joined Jun 2005
Aston1st started this thread I had a good day yesterday ( See attached) and an okay day today.

However, what with the events in Brussels i don't feel comfortable trading on other peoples misery. So I have stopped trading.

What's the forums view: When news about death and destruction comes out is it all about the money and opportunity and how does that reconcile with your Humanity?
Attached Thumbnails
21-march-2016.bmp  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!

Last edited by Aston1st; Mar 22, 2016 at 8:42am.
Aston1st is offline   Reply With Quote
Old Mar 22, 2016, 4:44pm   #117
Joined Jun 2005
Aston1st started this thread Long: 50 for 9912
Stop: What's that? I have already lost some money with an initial stop at 9870. So played catch entering at 9912 so have a deep stop 9838.
Exit: I: 10,000
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!

Last edited by Aston1st; Mar 22, 2016 at 4:59pm.
Aston1st is offline   Reply With Quote
Old Mar 22, 2016, 4:48pm   #118
Joined Jun 2005
Trading in Volatile Markets

Aston1st started this thread Out at 10,000 don't want to be too greedy.

Ironically this has been one of my best day's.

Interesting that the markets absorbed the Brussels bombing within about 3 hours.
Attached Thumbnails
22-march-2016.jpg  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!

Last edited by Aston1st; Mar 22, 2016 at 6:43pm.
Aston1st is offline   Reply With Quote
Old Mar 24, 2016, 11:30am   #119
Joined Jun 2005
Win some Lose some. Average out on Top

Aston1st started this thread Oh dear what goes up "must" come down. It would be remiss of me not to show my bad days.

Yesterday was crazy day, especially in the morning as I had traded 10055 to move to 10100 and for some reason I became fazed out then tumbled. Revenge trading doe's not do it justice.

Not learning the lessons, other than to take funds out of the account, build up the reserve account to give yourself some breathing space. I am now focusing on alway having a larger reserve account than the live account

On the positive side I am up £1374.00 for the week! Starting balance was around £2500.00.

Happy Easter!
Attached Thumbnails
23-march-ii-2016-jpeg.jpg  
__________________
1. Trade what you see!
2. Trade on probabilities!
3. Accept the Risk!
Aston1st is offline   Reply With Quote
Thanks! The following members like this post: Oscar Reed
Old Mar 24, 2016, 12:07pm   #120
Joined Mar 2016
..................I would advise you against changing sizes.

Keep It Simple, Keep It Stupid.
Mr Sept 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 1:32pm

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