100k to 200m in 10 years

[bedsit]

You think? Not one of those guys you mention is a full time FX trader, and a few you mention are playing for their next pot noodle.

One has to take everything on this forum with a pinch of salt, people tend to exaggerate or give false information.

If I've believed everything I've read in the Swan's post, I would have to log in to check my account to make sure I'm not dreaming about my trading.

BTW I've found his style very convincing - almost tried to log in.

 

[HowardCohodas]

poooooooonnnnnnnnnnnziiiiiiiiiiii

Just because you can't do it doesn't mean it can't be done legally.

 

[barjon]

...............What exactly is stopping me from building an account?................

Liam

Well one thing might be size. Quite aside from the liquidity problems you will run into once you really get up and running (if you've doubled your account you've either got to double the number (or profitability) of winning trades or double your position size to do it again the following year - and so on) there's also how you're going to handle it.

Thinking of position size:

It's easy to walk along a 4 inch plank on the floor (paper trading)
Pretty easy when the plank is raised a foot (small account stakes)
What about when it's 1000 foot sheer drop below? (big size after a few years)

Come on, it's only the same 4 inch plank isn't it?

cheers

jon

 

[bedsit]

Just because you can't do it doesn't mean it can't be done legally.

Don't Forget to Play EuroMillions.:clover:

It is possible to win it, although odds are not that great - maybe similar to a trader turning 100k into 200m over 10 years?

 

[forker]

You think? Not one of those guys you mention is a full time FX trader, and a few you mention are playing for their next pot noodle. Out of 'em there's only Vaco I'd give a job to and one or two puke when they're 2 quid up/20 pips and you're looking to them for proof? Proof of what? A couple still think it's all primarily about a system and not MM and mind, they see performance of grabbing 150 pips making 1500 quid inside 15 minutes and think you've found the grail, or posted charts from yesteryear, or get all bitter and twisted..Christ on a bike..

Forget what others are doing, what you're really asking for is the comfort and confirmation that "this or that" can be done. Yes it can, but can you do it is all you should be concerned with but not in *classic* manner most hope for.

Why aren't you getting the answers you want? 'Cos it's fookin boring and its been asked to death and this thread is just a re-hash of similar ones, also folk move on and past these issues fairly quickly if they're going to make it (it any sense or fashion) in this business. Can you trade? Get proper backing and do it larger. Can you trade? Remortage your house and put on better size. Can you trade? Prove it and send off cvs. Can you trade? Don't waste your time looking for inspiration and or guidance off 'ere, it isn't here..no one is interested in others' pains unless they're sad vendors/lurking mentors.

Too many dreamers think they'll start off with mini-lots, slyly nicking a few hours off the boss during work time or trading EOD, then effortlessly move through the gears, build up a cash pile, put two fingers up to the boss and go full time and suddenly they'll wake up one day and life's a bowl of cherries, cos *life* is like that eh? Out of all the insidious 5hit that's posted re. trading that *dream* is the worst, it ain't never gonna happen, takes a year (full time) to become OK/proficient at this business, 3/4 years part time. That's all new traders shoud be concerned with, putting in the hours, becoming proficient, how long can they persevere before giving up..and not "can you give me some inspiration and point me to legendary stories from the trading world.."

Amen brother from another mother.

 

[LiamH]

Liam

Well one thing might be size. Quite aside from the liquidity problems you will run into once you really get up and running (if you've doubled your account you've either got to double the number (or profitability) of winning trades or double your position size to do it again the following year - and so on) there's also how you're going to handle it.

Thinking of position size:

It's easy to walk along a 4 inch plank on the floor (paper trading)
Pretty easy when the plank is raised a foot (small account stakes)
What about when it's 1000 foot sheer drop below? (big size after a few years)

Come on, it's only the same 4 inch plank isn't it?

cheers

jon

Automation baby

What you refer to is psychology which I agree is the biggest obstacle. Like I said, I never said I think it's easy. Anyways I'm out, this has been done to death over and over again so I'll just shut up.

 

[bedsit]

and a few you mention are playing for their next pot noodle.

Sorry - I couldn't resist - it's a bit off topic, but anyway it's really funny in a strange way. Swan, you must be a psychic.

I'll get my next pot noodle in Tokyo - going there to celebrate New Year's eve.

Happy New Year!

PS Usually don't trade GJ and now I'm going to buy JPY. Maybe not the best timing.

 

[terry.tibbs]

I'm sorry to say this during the holiday season, but your first post displays an enormous amount of ignorance. See my signature item #1.

There are some who are very successful who also teach.

Not all who teach use "over the top" or untruthful advertising.

Not all education, training and coaching is overpriced.

There are some who are successful who will not manage other people's money because of personal code.

Hi, you're right on all this points. It's just that I went to their presentation and I know how much they charge for the courses and also the way they tried to sell me it was a bit suspicious. Before I went there I thought this might be a good stuff but I could not get any information about what methodology they teach. No one explained anything about course content etc. I didn't expect to be told full methodology right away but it was all about how much money they make they lifestyles, how all other methods are rubbish and how much brilliant they course is... do you see what I mean?

 

[HowardCohodas]

Don't Forget to Play EuroMillions.:clover:

It is possible to win it, although odds are not that great - maybe similar to a trader turning 100k into 200m over 10 years?

Odds of winning anything in EuroMillions is 1:24.

There are many trading strategies with odds far better than that. The odds on one strategy that I am familiar with is 23:25. Therefore, in my mind, your claim to similarity fails to resonate.

 

[LiamH]

Odds of winning anything in EuroMillions is 1:24.

There are many trading strategies with odds far better than that. The odds on one strategy that I am familiar with is 23:25. Therefore, in my mind, your claim to similarity fails to resonate.

The odds of winning anything might be 1:24 but I don't think that's what bedsit was getting at lol I'm pretty sure he was talking about the jackpot where the odds are a little longer!

 

[pboyles]

Howard

I'm sure there are decent courses out there. The problem is that people nowadays think that marketing equates to lying. Therefore they all overhype their products and assume the public is too dumb to notice (which is true sometimes). When people do discover they have been lied to they then assume, not unfairly, that the product is a scam. If they actually made reasonable and truthful claims they wouldn't have this problem, but then they wouldn't be able to attract all the dreamers either.

 

[HowardCohodas]

do you see what I mean?

I am completely empathetic with your experience. Most of us have been similarly treated. Worse yet, some of us have even forked over significant funds only to be disappointed with the the product.

However, it does no one a service to lump all educators, trainers and coaches in the same group. It takes effort by the consumer in due diligence to sort out the good from the bad and some come to forums like this as part of that process.

It is also unfair to vendors who provide a good service at a fair price. Among their other contributions, they provide the funds that keep this service free for the rest of us.

Full disclosure: I am a potential vendor in development. It remains to be seen if I am able to live up to my high standards.

 

[HowardCohodas]

Howard

I'm sure there are decent courses out there. The problem is that people nowadays think that marketing equates to lying. Therefore they all overhype their products and assume the public is too dumb to notice (which is true sometimes). When people do discover they have been lied to they then assume, not unfairly, that the product is a scam. If they actually made reasonable and truthful claims they wouldn't have this problem, but then they wouldn't be able to attract all the dreamers either.

Enthusiasm and drama are a part of marketing. Exaggeration and lying do not have to be. Will that work for me? We'll see.

 

[HowardCohodas]

The odds of winning anything might be 1:24 but I don't think that's what bedsit was getting at lol I'm pretty sure he was talking about the jackpot where the odds are a little longer!

I am as well. I just didn't want the contrast to be any more dramatic than I showed.

 

[pboyles]

I am completely empathetic with your experience. Most of us have been similarly treated. Worse yet, some of us have even forked over significant funds only to be disappointed with the the product.

However, it does no one a service to lump all educators, trainers and coaches in the same group. It takes effort by the consumer in due diligence to sort out the good from the bad and some come to forums like this as part of that process.

It is also unfair to vendors who provide a good service at a fair price. Among their other contributions, they provide the funds that keep this service free for the rest of us.

Full disclosure: I am a potential vendor in development. It remains to be seen if I am able to live up to my high standards.

It's actually not unfair to assume every vendor is a scam until proven otherwise. Just try to get some of them to show you an account statement or prove Amy if their claims and see what excuse you get. It's unfortunate for the honest vendors but that's the fault of the unscrupulous vendors not the honest members of the public looking to buy the product.

 

[HowardCohodas]

It's actually not unfair to assume every vendor is a scam until proven otherwise. Just try to get some of them to show you an account statement or prove Amy if their claims and see what excuse you get. It's unfortunate for the honest vendors but that's the fault of the unscrupulous vendors not the honest members of the public looking to buy the product.

We are in violent agreement. That's what due diligence is all about.

 

[pboyles]

Yes except that certain vendors have had all criticism deleted from various forums making due diligence impossible. My point is that all a vendor has to do is to prove to a prospective student that they themselves are profitable traders, try that with any of them and see the excuses you get.

 

[trendie]

It's actually not unfair to assume every vendor is a scam until proven otherwise. Just try to get some of them to show you an account statement or prove Amy if their claims and see what excuse you get. It's unfortunate for the honest vendors but that's the fault of the unscrupulous vendors not the honest members of the public looking to buy the product.

You're making the assumption that the method that vendors sell/teach is the same method the vendors actually trade.

It is entirely within the bounds of possibility that a vendor trades, for example, System A, but sells System A-lite, which may be a diluted version of the primary system.
Equally, a system sold/taught could be two or three increments behind the primary.
That is, a viable system, but 2 or 3 versions behind.

If you look back at your current system, and see how many key improvements it contains, and think of how it only became your system because it gave you nett profit way back when (ie, showed promise), but before you added key advances, you can see how you can truthfully sell an old profitable system, but be unable to provide statements since you don't actually use it. And be unwilling to show any profitable statements since it's not the profitability of your statements that matter, but that the profits came from a differing system.

Or am I too engrossed in the festive cheer to be cynical?

 

[pboyles]

That would have us believe that he sells a successful system but trades an unsuccessful system with his own money.

 

[forker]

I hate the term system.