Challenge Stage 1; £100 to £1000 using simple method

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Old Apr 7, 2009, 11:24am   #1
Joined Nov 2008
Challenge Stage 1; £100 to £1000 using simple method

Hello
I'm going to prove that trading strategies don't have to complicated, proffesional, difficult. To make money you don't have to be, extremely clever, qualified, or have capital.
My little brother is 8 years old, during this challenge; everytime i see a setup i'm going to ask my brother (who i have explained simply the method to) if we have a setup. If he says yes, i take it, if not i don't.
I'm 18, have no a-levels (yet!), no degree, average GCSE's, i started with little capital, i currently use a broken laptop (monitors bust) attached to a 32-inch samsung tv, no business experience, my work experience only comes in the form of a paper round/somerfield/pharmacy work, i've got brown hair,I failed trying to learn guitar and piano, i do media studies a-level.

What do i have then!?!
- Passion for trading
- An xbox 360 (i pwn at halo)
- Determination
- I have persisted with trading
- Huge ambition and dreams (of moneyyzzzz)
- Big muscles .... *lies*

So as you can see i'm nothing special and very unqualified to do anything. But i can trade succesfully! And so can you!

The ingrediants;
-Time
-£100
- Dedication
- Pesistance
- Determination
- Food
- Simple trading word document
- Igindex account
- The internet
- A computer

Stage 1;
We're going to turn £100 into £1000!
Why? Because its fun and to make a bit of spare cash to spend on treats
What you buyin boy' ?!?
I'm glad you asked,
1. My little brother wants his own PS3 and since hes making the final trading decision, he will recieve one for his work (like a salary)
2. I'm going to buy myself a Hugo Boss suit - It just seems appropriate and proffesional.
3. Any money left over will go into Stage 2 of the challenge, which will be amazing.

Whats the strategy then?
Well i can't tell you that, top-secret information i'm going to sell for $$$ when i'm older.
That was a joke. (HAhahahahah Lol ROFL LMAO)

You're education:
1. Money management
2. The PHENOMENAL, SUPER, AMAZING strategy (lol) You ever seen adverts like that?
3. Live trade examples with graph images

The challenge won't start until i have fully explained everything and all understand whats going down. I want to make this easy for beginners and laughable for experts.

One thing i have always empathised in the way i've taught myself trading is this;
'Only learn whats potentially profitable' In otherwords, i only know how to make money, i don't give a **** what a 'company' is doing or discussing the FTSE100 behaviour, i don't know the basis behind Fibonacci, i don't know how the MA's are calculated exponentially.

It doesn't matter! What matters is the simple basic principal behind the way in which you'll make money.

Famous quote; ' I don't know any ' Now lets see who gives a ****.

Homework; Watch Harry Potter in Pakistan, its hilarious, Ron Weasley (in the episodes his voice is breaking and Really low) is voiced-over by a little girl.
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Thanks! The following members like this post: arabianights , trader_dante , elitejets , nunrgguy , rogue8
Old Apr 7, 2009, 11:43am   #2
Joined Nov 2008
Taylored001 started this thread I hope during the few minutes there you had time to enjoy Harry potter;
Lesson 1;

Money Management. (Notice the alliteration) B in GCSE English shining through.

1. On accounts over £1000, risk 2% or less, i only trade 1% on my big capital account.
2. Since we are starting with £100, i'm going to cheat and trade £5 per trade, mostly because this is sort of the minimum IGindex will let me do. When i get to £500, it will be 1% per trade from then on.
3. 'Don't risk money you can't afford to lose' - I feel this isn't certainly true, ultimately when you risk money you should have added the odds up and seen the likeliness of success and the impossibility of defeat, however always know the plan if you lose all the capital. If its depression and homelessness, then trade less of your total capital or make money using a paper round first.
4. Demo until confidence and consistancy.

5. Trading is your own responsiblity, all actions are yours, the consequences only affecting you.

6. If you come to me and say 'Using your strategy i lost all my capital following your rules' then i will rofl and call you a noob. Because its impossible...

Why you ask?
7. On a drawdown of 30%, the challenge will be over and i will have failed. Do not trade anymore until further demo-ing, then refill your capital and start again.
8.Don't lie to yourself about your success, the evidence is the statement. A common mistake i always make is saying 'Ah i made a mistake, but if i hadn't i would have made 4% so the strategy is still very good'. The result is the determant of success. You can't buy a hugo boss suit because you tried hard.


Prepare for Lesson 2;
Beginners, read all the schooling at Forex Trading: Online Currency Trading in the Foreign Exchange Market, everyone should, its not relevant to my strategy but it will make you know how to manage exits more effectively through understanding different graph behaviours.

Experts - Check the FTSE100 right now on a 5-minute chart, notice the 80-point fall today, i was in that using the strategy on the demo account.
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Old Apr 7, 2009, 12:13pm   #3
Joined Nov 2008
Taylored001 started this thread Intermission; A few words from Tradings NUMBER 1 NOOB

Life not giving you what you want?
Wish you could afford that new car?
Take the family to Barbados?
Buy that holiday home in Spain?
Afford that heart transplant (if you live in US)?
Buy a new home?
Afford a new Tv?
Have financial freedom?
Quit your job, work for yourself?
Treat your wife?
Treat your children?
Buy a rolex?
Own your own business?
Own a speedboat in Italy?
Scubadive in America?
Take the kids to Florida?
Say '**** off' to the London underground?

Win the London marathon?
Win the olympics?
Qualify for the Champions League on your own?
Have the Barbie doll collection?
Kill people and get away with it due to your 'Licence to kill'?
Play pokemon in your boxers?

DO IT THEN.

Here's a quick task;
Write down, in order a list of things you want, start with the smallest to the biggest. Through trading each milestone you hit, tick it and see how long it takes to get to the top!

Thats what i'm doing! TO give you an idea to start with, first thing on my list was a new xbox 360 game (£30) and it went up from there. I'm currently @ number 26 lol i have a massive list!

How you going to achieve your goals? I can tell you EFFORT and PESISTANCE and RESEARCH and DETERMINATION.


Each target i plan to take up 1-10% of my total capital. For example, i decided when i got to £10,000 i would buy a blu-ray player which cost £250. So that targets never influence your earnings too much.


Okay enough already?
Strategy time.
I can't promise your dreams can come true using my strategy, but i know that through trading your dreams are possible. This strategy is REALLY SIMPLE, its not complicated and not particularily profitable but it has its merits. When i'm trading my big capital - i use other techniques for lots of different reasons, mostly because i'm in a rush to get to a million!

This is just a fun way of showing people its not too difficult to earn.

I don't want people saying 'Ah thats ****' because i don't want beginners to be put off, i'm afraid you've just got to trust me. Experts, watch the journal and i can prove you wrong but until i fail, don't flame me ^_^

First a few interesting facts;
Starting with £100.
Making 16% for 3 years.
You will make £20,916.

Just think about that, its power.

Starting with £5,000
Making 16% for 3 years
You will make more than a million.

My estimate for this strategy and this journal is that i make 10-20% per month. And a yearly average of 16%.
Sounds good yes?

Now remember; We are starting with £100 and therefore £5 per point (5%) So i predict a return of 75% on the first month or two.
Then when we hit £500, it will be 1% per point from then on.

Overall £100-£1000 i predict will take 6 months using this SIMPLE STRATEGY.

Then we can move onto stage 2; £1,000 per day earnings

Excited! I am Cause using these challenges, every penny is going to go to goodies for me (On stage 2; Mondays earnings will go to charity so that Jebus is on my side)
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Old Apr 7, 2009, 12:25pm   #4
Joined Jul 2008
We are all ears and eyes... Chris
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Old Apr 7, 2009, 12:34pm   #5
Joined Feb 2008
Well - this should be fun.

Good luck to both you & your little Bro !
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Old Apr 7, 2009, 12:40pm   #6
Joined Nov 2008
Taylored001 started this thread Finally; Before lesson 2. I have one more thing to add;

I don't want to hear your 'ideas' and 'improvements', unless you demo them for a month and live trade them for a month successfully monitoring the 'normal variation' and whereby the improvement in profit wasn't by luck on a random good day and rather on a every day improvement basis without touching my money management rules.
If you're not sure you're improvement will make the strategy better and therefore want to discuss it on the forums first, then you don't know what your talking about and i recommend you follow what i say.

Conclusion; Any ideas demo them and live test them before posting.

When the journal starts i am going to post EVERY trade i do LIVE. So that there is no bullsh*t, oh look what we could of got.
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Old Apr 7, 2009, 12:45pm   #7
Joined Nov 2008
Taylored001 started this thread Quick quote from my little brother;
'Since i'm making the money, i think i should get to spend all of it'

Cheeky bugger.
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Old Apr 7, 2009, 6:25pm   #8
 
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Good luck with this!!
Rob
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Old Apr 7, 2009, 6:31pm   #9
 
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Good stuff. Looking forward to seeing your stuff.
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No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
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Old Apr 7, 2009, 7:58pm   #10
 
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yep im in just in case
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If you are serious about trading then you need to look at this link

http://www.youtube.com/watch?v=6CnAsdQiGzs
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