How I turned £3000 into £20,000 in 6 Weeks

  • Welcome to the newest version of Trade2Win! We're running on the latest version of, what we consider to be, the best forum software available today. Our aim was to keep things as familiar as possible but focus on improving speed, security and usability. We hope you like the result! Please post your questions, comments, suggestions and feedback in the What's New and Feedback Thread - Sharky.

timsk

Well-known member
Mar 18, 2002
6,763
1,725
223
#81
Hi Aston1st,
A couple of questions if I may . . .
1) Are these trades demo or for real?
2) Am I right in thinking you're using a spread betting firm and, if so, just curious to know why you go to the expense of e-Signal?
Tim.
 

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#83
Hi Aston1st,
A couple of questions if I may . . .
1) Are these trades demo or for real?
2) Am I right in thinking you're using a spread betting firm and, if so, just curious to know why you go to the expense of e-Signal?
Tim.
Hi , yes I trade live.

I use E-signal to make sure i am trading of the exchange traded prices. The Squawk also is helpful some times sort of acts like a somebody looking out for the News and Colour flow. When starting it's pricey with a small account. But nothing gets your attention more than when the announcer says: "1 Minute to go" and your like "1 Minute for what:-0 and you make sure you don't put that trade on.

Once I manage to bug out and get to the foothills I shall move to prospreads then Trading Technologies for my trading platform to trade off the ladders.
 

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#85
Had shorted at 10237 £5.00 a tick and hit hard with the rise. Currently:

Short DAX 10@10251
Stop DAX 10295 for £10.00
Exit DAX 10050 for £10.00

Time Stamp: 09:35
 

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#86
Okay I am calling Endex to my initial goal of £4,000 into £40,000 by month end.
Nothing like putting undue pressure on yourself. Still it has been a great exercise in self discovery.

Summarize, I started with a small stake of £400.00 and flip up fantastically. Using the same ratios but cutting them in half I thought it realistic transform £4,000 into £40,000.

What I have found really frustrating is the following:

1. Gaps, whenever there is a GAP my trading becomes prejudice in terms of the direction I believe the market will be going which inevitably means the GAP will be filled.

2. Based on the above, there have been times I have not taken a profit. Last Monday I did not take a profit of £500 and took a loss of -£160. Then on Tuesday I did not take a profit of £1,000 but ended up with £160.00. Wednesday could have been a nightmare but turned out okay. And yet Thursday ( see attached 10th of September) laughably I was so busy trying to post this that I the market had turned against me and I ended up with a loss of -£1100.00 that really pissed me off. Friday just bad news.

3. Yet despite all the negativity my Endex performance is still by any measure pretty good. It's just that things could have been much much better.

4. Why?

The obvious finger to point would be a lack of self discipline. However, while this is a possible factor the real reason I believe is a "Fear of Success" the need to get a break through in thinking that it's perfectly fine to be generating profits of £1,000 - £2,000 a day. Possibly sub consciously I don't believe it which is why time and time again I give back profits when I don't need to. Definitely something to work on.

5. The best thing that I have done is to withdraw profits from the account when the going is good. the 1/3 rule ( 1/3 in a reserve account, 1/3 remain in the trading account and 1/3 to spend as one wishes). on the endex graph I have £2500 remaining ( reserve account) and I withdrawn the remainder.

6. Notes on the Endex Sheet: The Gross Profit and Loss column is simply the actual P&L I had in the account at the time I finished traded for the day. The Number of Trades are round trips = 1 Trade they are part estimation and some are counted from the statement the day after when I receive it. The Commission are not the actual brokers commission which would be a lot more.

I am taking time out on the sim before I trade with my reserve account.

If any of the moderators wish to verify my trading performance over this period that will be a pleasure to prove I have not been bull****ting and also hopefully to allow other traders to see that the mistakes they make are universal but also you can still make money in these markets anyone who is content with 5% returns a year on their capital has lost the plot.

In my opinion it's always better after you have got some experience in place to start with a decent account size £25,000 - 50,000 that way you will not be taking on too much risk. With a £50,000 account size taking £500 - 1000 a day would be **** easy. And it would be at a level where one would stop and say that's a good days pay. Unlike earning £10 -20.00 on £1,000 trading pot.

Happy to answer any questions Traders may have.

And no I don't believe in risking just 3% of my capital per trade.

Good luck - Roger and OUT.

 

Attachments

NVP

Well-known member
Jun 21, 2004
35,579
1,708
223
fxcorrelator.com
#87
very interesting to read the thread A1.......brutally honest it seems ....so hats off to bearing your trading soul ......of course every trader here reading this will have opinions and views on what you are doing

for me all I say is good luck to you and follow your own trading path .....its your money so go for it

N
 
Likes: Oscar Reed

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#88
very interesting to read the thread A1.......brutally honest it seems ....so hats off to bearing your trading soul ......of course every trader here reading this will have opinions and views on what you are doing

for me all I say is good luck to you and follow your own trading path .....its your money so go for it

N
Cheers NVP.
 

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#90
FED Interest Rate Decision

Switched to Prospreads, bobbing along, flat. Have tried to stay out of the Market due to the Fed.

My point and Figure Charts show lot's of congestion over the last few weeks in the build up for this.

Hmmm my magic charts are telling something.

Question is do I take the trade? :cool:
 

Attachments

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#91
There you go.

All last week I was saying the Price was going to hit 10050 which was my target due to the gap. The moment that I give up on the idea Whoosh it happens.

Still after a number of losing day's I am very glad that gaps have been filled. I can now trade without prejudice.
 

DaxSlut

Active member
Sep 19, 2015
301
13
28
#92
Hi Aston,

I love this thread and thanks for sharing your journey, despite it being an old event and you now being 5 years the wiser can you honestly answer this on reflection.

- Did you win £17,000 or lose £80,000 ? Think about your answer carefully for a moment.

BTW I don't chase everyday - it's hard work and mentally draining. I cashed in my big winnings more than a week back and ALSO removed my deposit to ensure that I don't get tempted to trade again.

I'm looking to re-enter though the current 9900 - 10020 (even 10100) seems like good interim play but bounce at the
Dow criticals 16100, S&P 1942 which leads me to the conclusion of
Dax 10320-800 = '9520'

'9520' sounds like a juicy prospect right ?

Anyway remain sassy fella, try not to be too aggressive :)

My very bests to you
 
Jun 10, 2015
48
3
18
#93
Interesting thread, I honestly don't know how you can trade like you do. With the amount you risk I would feel sick. You have bigger balls than I :p

Hope it works out for you. Seems to be so far, just doesn't sound that sustainable, sure it may work at times, but if you have a drawdown, you are going to clear out your account fairly quickly?
Either way will be watching this thread for sure
 

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#95
Hi Chaps,

Thanks for the comments and encouragement.
@DaxSlut, walking away with around £17,000+ was good as I spent the money.

But at one stage I had £118,000 of equity in my account. I think that having grown the account to that level I have understood it's just paper profits until it's crystallized hence my 1/3,1/3,1/3 rule. However, while one may be disappointed that those profits had not been cashed in, it gives one encouragement to know that IT CAN BE DONE.

What you done was brilliant and as Livermore once said: " There's a time to go long and a time to go Short and a Time to go fishing!".

I am also looking at the DAX hitting the 9500 mark, it ticks the Elliott Wave Box and the Point and Figure Box.

@Revorocks, as we used to say in Airborne forces; "How Far?" .............."All the Way".

You are right when it comes to withdraw downs, but in all honesty if I had a £5,000 account and kept to a maximum daily draw down of £500.00 my performance would lift significantly. That's when you need either self-discipline or a Trading Buddy. I think a Trading buddy would speed things up very quickly.

Imagine if you had an Angelo Dundee ( or Bomber ) sitting beside you telling you it's time cut your positions and close the P.C down when your UP on the Day or Down. At the same time you could do the same to them. It's a lot easier telling somebody to do something than doing it yourself.
 
Last edited:

DaxSlut

Active member
Sep 19, 2015
301
13
28
#96
Thanks Aston for your response.

It's interesting how easy it is to consider profits as paper money aka leveraging weight. I think we all do it and to some extent even if disciplined can still fall into the trap where one thinks the price is 'not great' but I don't want to miss the rally so hey I've got xxxx profits today that I can use just in case to cover me. I've grown out of this, all profits form part of your pot - protect it. You can certainly feel loses so why can't one also feel, care and protect their wins ?

Let's say you've opened up a new account .... your first trade is always taken with care and you'll spend a lot of time finding the 'perfect' entry. I believe every trade should be like that.

Unfortunately in practise it's a different story and hands up even the preacher made this mistake today LOL !

BTW The only reason why I asked is that I once took £200 to £8.5k which in itself is no easy feat. It took approx 2 months with the first month spent trying to get to 1k which was very hard and yes I lost the lot in one afternoon :)

To me I lost 8.5k not £200 because I worked ever so hard to get there and to me the paper money was real. I had to step back from the loss (stopped trading for a couple of months) as it made me think how easy it is to lose 8.5k of 'real' money.

Since that day - all profits are 'earned' and should be protected as you've invested your time, sweat and tears in it.

Thanks for reading sir, and bottoms up 9500 is just round the corner :)
 

Aston1st

Active member
Jun 10, 2005
230
21
28
London
#97
DAXSlut,

I have to say I did raise my eyebrows when you mentioned whether I "Won" my profits as like you profits for me are earned. ;)

It's true that profits generated on the account "Should be protected" however I find that while trading, the P&L is in a fluid motion based on the Market activity and one's interpretation of that activity. When things are going well they can go very well but if bad very bad and that's the side that really needs protecting. It seems you have managed to achieve that side of things.

On the question of whether a paper profit is a real profit, I don't really look at it in those terms. If one managed to bring £200 up to £8500 in 8 weeks that is a brilliant achievement. Many people who do not come from a trading background would scoff in disbelief of such returns in a world where the bank's hand out 5% p.a. for obedient savers. But fellow traders know what is possible and salute you.

More importantly by pushing the boundaries of our own perceptions on what is achievable we can refine and improve our performance in our own way. If one almost runs a 4 minute mile but sprains ones ankle with 50 yards to go, one should not don't get despondent but confident that "all things being equal" the next time will be successful.

But for me the only profit is the one that has been crystallized -

When you mention:

"I cashed in my big winnings more than a week back and ALSO removed my deposit to ensure that I don't get tempted to trade again."

In some way we are in agreement on that.

When I grew that account so rapid the first time, I was in a dilemma,do I transfer the paper profits into an account with 1.% p.a return or keep them in the trading account which is growing astronomically? I made the mistake of keeping it in the trading account. When the proper thing to do in my opinion was putting it in one's bank account with the 1% p.a return as a way of simply protecting one's winnings from RISK, systemic,systematic,market or in reality my trigger happy mouse clicking fingers:rolleyes: That's why the 1/3 rule works for me.

Anyhow the DAX has hit the 9500 level now, time for Bullish sentiment to kick in?
 
Last edited:
Likes: DaxSlut

NVP

Well-known member
Jun 21, 2004
35,579
1,708
223
fxcorrelator.com
#99
I,love,this,thread...

..in my own trading of forex I can easily see in hindsight using some volatility indicators where the max volatility was for,trading the g8 during the day........not individual pairs but the full g8..

...(.ie if you attack the pairs at that point you will. Make money unless,you are,unlucky)

The trick naturally is picking that sweetspot.........and maximising leverage going in

If Aston can find a sweetspot and get his ducks in a row then he only needs a few winners to pay the bills......it's a little,to risky for me as a day inday out strategy ....but who are we to say something won't work

N