A journal of turning my $1.500 into $1.000.000

peti305

Member
54 11
Traded the Swedish Retail Sales.
Got out with break even.

0 pips
 

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peti305

Member
54 11
Here is my statement for August, made a minimal profit of +4%
Current account balance is $6.229


This week gonna be very busy, looking forward to it..
 

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snowgum

Newbie
1 0
Interesting thread Peter. Way outside my comfort zone, but great to see how others trade the markets. Hope goes well and will watch with interest. JohnO
 

Matts Micro

Newbie
3 0
Hello,

I am trading off news events, but with a very strict trading plan of my own.

Regards,
Peter

Hi, nice results so far it seems.

I have being trying a 2:1 ratio strategy for a while now but am determined not to be put off my normal trading. The reason I am interested in finding a 2:1 RR strategy is because I have being following another main stream forum's thread called Rags to Riches in 10-20 trades.

Basically starting with $50 and risking 50% of the account to achieve 100% profit can make $50 000 in 10 (net) winning trades.

So: 1st trade = Risk $25, Target $50
2nd trade R-$50, T-$100
3rd trade R-$100, T-$200
etc.

If you do the math including loses if you have 10 more wins than loses (=net wins)at any time you will have made $50 000. Obviously with trading small pip returns you will need a high leveraged broker. I am using 500:1 lvg and 15:30pip RR can work on this leverage.

Anyhows just thought you maybe interested.

GL on your venture.
 
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Chalky_trader

Well-known member
463 34
Hi, nice results so far it seems.

I have being trying a 2:1 ratio strategy for a while now but am determined not to be put off my normal trading. The reason I am interested in finding a 2:1 RR strategy is because I have being following another main stream forum's thread called Rags to Riches in 10-20 trades.

Basically starting with $50 and risking 50% of the account to achieve 100% profit can make $50 000 in 10 (net) winning trades.

So: 1st trade = Risk $25, Target $50
2nd trade R-$50, T-$100
3rd trade R-$100, T-$200
etc.

If you do the math including loses if you have 10 more wins than loses (=net wins)at any time you will have made $50 000. Obviously with trading small pip returns you will need a high leveraged broker. I am using 500:1 lvg and 15:30pip RR can work on this leverage.

Anyhows just thought you maybe interested.

GL on your venture.


Hmmm

Interesting Math, but 2 bad trades and you wipe out...

ever looked at 3:1 or 6:1 to give yourself a fighting chance?
 

Matts Micro

Newbie
3 0
Hmmm

Interesting Math, but 2 bad trades and you wipe out...

ever looked at 3:1 or 6:1 to give yourself a fighting chance?

Nah not true. You risk only 50% of the current balance.

Like this:

Deposit $50

Lose: $50-$25 (-50%)
Win: $25-$50 (+100%)
Win: $50-$100 (+100%)
Win $100-$200 (+100%)
Lose $200-$100 (-50%)
Lose $100-$50 (-50%)
Lose $50-$25 (-50%)

That scenario equals to -1 wins net. The aim is to get +10 wins net. It doesn't matter how many trades it takes. It could be 40 losses with 50 wins. Obviously staying above minimum trading lot size will have to be important.
 

Chalky_trader

Well-known member
463 34
Nah not true. You risk only 50% of the current balance.

Like this:

Deposit $50

Lose: $50-$25 (-50%)
Win: $25-$50 (+100%)
Win: $50-$100 (+100%)
Win $100-$200 (+100%)
Lose $200-$100 (-50%)
Lose $100-$50 (-50%)
Lose $50-$25 (-50%)

That scenario equals to -1 wins net. The aim is to get +10 wins net. It doesn't matter how many trades it takes. It could be 40 losses with 50 wins. Obviously staying above minimum trading lot size will have to be important.

Thanks for clearing that up Matts, are you currently trading this system?

Im thinking of opening a new account just for fun and giving it a go!
 

Matts Micro

Newbie
3 0
Thanks for clearing that up Matts, are you currently trading this system?

Im thinking of opening a new account just for fun and giving it a go!

I have tried a few times and the highest tier I've reached is lvl 5 where I decided to quit and withdraw (giving me many more credits to try to achieve the overall goal). Since I have tried and failed a few times but am gearing up for another go soon. It isn't easy and it can be a little distracting from "real" trading. I think you hit the nail on the head with the word "fun" as this system should only be taken up as a side to peoples serious trades imo.

Just thought I'd mention to you though cos you seem to be working off the needed R:R ratio already.

Not sure what the policy is here for mentioning other sights but if you google "rags to riches forex" you will find it and be able to read the thread.

GL(y)
 
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Chalky_trader

Well-known member
463 34
I have tried a few times and the highest tier I've reached is lvl 5 where I decided to quit and withdraw (giving me many more credits to try to achieve the overall goal). Since I have tried and failed a few times but am gearing up for another go soon. It isn't easy and it can be a little distracting from "real" trading. I think you hit the nail on the head with the word "fun" as this system should only be taken up as a side to peoples serious trades imo.

Just thought I'd mention to you though cos you seem to be working off the needed R:R ratio already.

Not sure what the policy is here for mentioning other sights but if you google "rags to riches forex" you will find it and be able to read the thread.

GL(y)

Thanks again for the feedback,

TBH my goal wasnt as high as 50K, but what it really focussed my mind on is the whole aspect of money management to grow your account rather than 30-40 scalps a day.

good luck with your next 'go' im planning my first one at the moment,
 

peti305

Member
54 11
Actually guys, I was thinking of trying out this strategy.

My main problem is, there aren't any ECN broker offering 1:500 leverage and low deposit.

And I don't trust market makers, none of them.
They usually don't allow news trading in the first place.
And when you reach $50k they won't allow to withdraw, because that's just the price for their new Mercedes if you know what I mean... :cheesy:
 

peti305

Member
54 11
This week's trades:


Tuesday, I traded the Swiss GDP. Got out before the US ISM Manuf. PMI came out, with

-6 pips



Wednesday, I traded the UK Services PMI. Made a loss,

-15 pips



After it on Wednesday, I traded the Canadian Interest Rate.
Very unfortunate loss,

-15 pips



Today I traded the Swedish Interest Rate.
Got out with break even, my take profit was a little bit lower...

0 pips



Also Today, I traded the Eurozone Interest Rate. They cut their rate as a surprise, made a perfect win on this.

+30 pips

After it, at the Press Conference, made a loss,

-15 pips



Overall, not a the best week..
 

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peti305

Member
54 11
Traded the US Non-Manuf. PMI Yesterday.
Loss,

-15 pips



Traded the US NFP today, loss again...

-15 pips


Look at that, how unfortunate I was... It just hit my stop loss and right after it turned south.

Up until this year CADJPY was far the best for trading the continuation for a lot of US news, especially for the NFP. But since this year its horrible, this is my third loss in a row for NFP, and I am not sure what to do with it.

USDJPY performing much better this year for my strategy, but before this year its backtest is horrible.
I'll take suggestions.
 

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peti305

Member
54 11
Last week I only had one trade, the NZ Interest Rate Statement.
This trade was the joke of the year, my stop loss was exactly at ASK price 0.8217.6, the price touched it for 1 sec and right after it turned south.
I don't even consider this trade as a loss.

-15 pips




Also, I started trading the weekend gaps, because historically they are highly profitable with 1:2 risk/reward ratio.
First one was AUDUSD last weekend, got a loss.

-11 pips



September sucks for me, lets see what can I do with it in the next 2 weeks...
 

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