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 Mr Sept ..................I would advise you against changing sizes. Keep It Simple, Keep It Stupid. Varying the ...

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Old Apr 1, 2016, 1:10am   #121
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Originally Posted by Mr Sept View Post
..................I would advise you against changing sizes.

Keep It Simple, Keep It Stupid.
Varying the size of your trades is like using gears on a bike. You adjust it to the lay of the land - probability of the trade. Elementary stuff.

That said I finished the month on a mere £2500.00! The month previous was £3700. My initial grub stake being £1,000.00 but Easter week and this week was horrendous. Total draw-down's of £13,000.00! ( Total not in one day! but near enough). Looking for a less volatile month in April.
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Old Apr 1, 2016, 9:23am   #122
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More volatility = More size.
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Old Jun 16, 2016, 11:04pm   #123
 
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Originally Posted by Aston1st View Post
Varying the size of your trades is like using gears on a bike. You adjust it to the lay of the land - probability of the trade. Elementary stuff.

That said I finished the month on a mere £2500.00! The month previous was £3700. My initial grub stake being £1,000.00 but Easter week and this week was horrendous. Total draw-down's of £13,000.00! ( Total not in one day! but near enough). Looking for a less volatile month in April.
So, this is probably a silly question but how is it going
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Old Jul 3, 2016, 9:59pm   #124
 
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Very informative. Keep it up!
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Old Jul 11, 2017, 10:48am   #125
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Cheers, that is my intention. However I believe to get a better shot at it one needs to be better capitalised. I am now working to build up my "Grub stake" to be minimum of £10,000 this should yield me around £500.00 per day.

As mentioned the trick is to earn enough per day to entice you to stop and say:

"£500.00 per day for 3 months is not bad, before upping it to £1,000. "
How has it been going .Please update.
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Old Jul 16, 2017, 8:24pm   #126
 
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This thread is a rivetting read!

Aston you are a brave fellow whose feats I hope not to emulate.

But how's it going, for goodness' sake?
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Old Jul 17, 2017, 12:47am   #127
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This thread is a rivetting read!

Aston you are a brave fellow whose feats I hope not to emulate.

But how's it going, for goodness' sake?
wisemen say few words
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Old Jul 29, 2017, 8:19am   #128
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any update?
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Old Jul 29, 2017, 9:03am   #129
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any update?
The update is: wrong size is D E D L Y. People usually go the way of the dodo when they don't respect their opponent who is not only rich but also able to move the price at will.
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Old Jul 29, 2017, 2:58pm   #130
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I would agree. I actually turned 10k into £20k in 6 weeks with a strict set of rules and my strategy, until I got emotional and complacent and lost the lot. Very painful.

In my opinion the stake size can be high as long as you have a target and get out after that. Where you lose it is when you think you're all that and start spending your unrealised gains and your future gains! Greed and lack of respect for the big boys that are running the show.

You can take your fair share but that's all

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Old Jul 29, 2017, 3:14pm   #131
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In my opinion the stake size can be high as long as you have a target and get out after that.
After a few more price spikes, perhaps you will change your mind.

In any case, trading small allows your reserves to get into more opportunities. So there's more profit when trading small.

Going big is more gambling than trading. It may work temporarily. But it will be lost in the end.
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Old Jul 29, 2017, 3:19pm   #132
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Btw my strategy was simple. Wait, wait, wait for price to reach a strong support / resistance and wait some more for a telling pull back, then go in big for a retrace of 20 points

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Old Jul 29, 2017, 3:24pm   #133
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After a few more price spikes, perhaps you will change your mind.

In any case, trading small allows your reserves to get into more opportunities. So there's more profit when trading small.

Going big is more gambling than trading. It may work temporarily. But it will be lost in the end.
I'm with you. Im only saying there is a time and a place where going higher risk is more acceptable.

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Old Jul 29, 2017, 3:51pm   #134
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All the threads I've seen so far claiming such high returns failed miserably. You can't expect the high reward without the high risk - as simple as that
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Old Jul 29, 2017, 5:01pm   #135
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All the threads I've seen so far claiming such high returns failed miserably. You can't expect the high reward without the high risk - as simple as that
mt5 is a great signal service , signal providers don't hack into mt4 and produce great returns , until they open live accounts with metatrader bucketshops.The signal is as good as the Barjon candle.
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