文章标题：How I Turned 1k To 100k In A Wk!!!
mysticgenie Nov 17, 2007 11:41pm
It may sound impossible, but I turned 1k usd to more than 100k usd (126k to be precise) in a wk—I am attaching the statement from my real account (after removing the account no. et al.)–Caution to newbies, please do not trade this way—I call my this account ‘wild thing’ which boosts my overall return—I trade another account conservatively as per proper MM—Btw, I did the almost the same thing last mth as well turning 400 usd to 60k within 2 wks—with some experience in forex trading & a decent trading system, I believe, this feat achievable atleast few time a yr—afterall, I am only risking 1k of my capital (rest is house money).
Next time, I’ll discuss how I manage this kind of trading, although the statement is pretty much self explanatory—
Thanks for all the compliments & brickbats–lol
Some of you already pointed out the danger assoc with this system–Yes, I fully agree that you cannot trade like this day in & out—a surefire way of giving back all your profits—I already said this is my ‘wild thing’ account, not the usual way I trade—this is only for ‘binge trading’, say, I’ll do this only for a wk or so & will take the profit & run–lol–yes I set a target for myself to keep myself motivated— And during this time I hardly sleep more than few hrs a day as I always keep an eye on my account—
I took my account statement off, as one of you already pointed out the real account no. (I did not notice that it is mentioned in last column)—I like FXCM & never had any problem in withdrawing money this time or before (usually withdrawal is completed within 24-36 hrs in US)— I think FXCM is one of best among the retail trader segment (provided you are not a scalper, i.e., 5-15 pips like thing).
I am not here to prove myself or something like that (belief is totally personal thing)—I posted my result just to show that it is possible to get an amazing return from forex in a short period of time if one keeps his/her emotions away from trading (i.e., the growth of account is directly proportional to your pain tolerance)—the moment your head starts reeling from the amount of money you won, your trading will suffer & that’s the time to stop & withdraw your profits—yes I could have gone on & made it to even higher ( coz, only 1 hr after I stopped trading this account, G/J dropped like stone from BOE infiation report)–But, i decided to stay away as that was my pain tolerance for this mth–lol (I have to worry about taxes—this is the year end folks!!)
I enjoy forex trading, but I’ll never take it as my profession, coz I’m already in a very noble & rewarding profession ( any American will know which one i mean)—Some of you suggested to buy a Porsche—now i’m going to drop another bomb–ready?–I don’t have a driver’s license yet-lol–that’s my next agenda to make it happen —and I’m also single–need to find a girlfriend also (preferably a trader who follows good MM–lol)
Lots of comments—wow, I never knew I’ll stir a hornet’s nest—lol–thanks smjones, tdion, imransait, budhi—all other knowledgeable folks—yes it is possible & there is nothing magical–it’s just that i used a very bold MM in a way I’m going to explain later—
Oh, btw, I’m a young MD in early 30’s (just to clarify some of your doubts)—I have been trading about a yr & this helps me to relax (yes it’s true guyz—trading has much less stress than medicine—believe me) & I enjoy both the worlds very well—why not driving, coz I live in NYC & never felt the need of it & gave any importance before—
Regarding smjones’ query: yes, I have been doing it for quite some time, but from last mth onwards raised my stake somewhat from increasing confidence level & more free time from my work–lol–did it last mth w/ 450 usd to 60k in 2 wks— usually I’ll attempt 3 times in a mth at the maximum w/ 500-1000USD at a time when I feel confident about market direction (this mth I managed this on my 2nd attempt).
Now the strategy in brief:
The strategy is very simple with some fine nuances which I’ll not be able to explain fully as I also use my intuition a lot.
I use simple trend following strategy based on 4H, daily & wkly TF (PA as per James 16 thread)— I use 1H TF for entries & exits—I also apply candlestick pattern, laguerre (see Imransait’s thread) & Demark lines (Mouteki thread) for estimated target points—now I do not use any firm SLs—if the position goes a/g me (say by 100-150 pips in case of G/J), either I’ll bail out & reverse (if the reverse trend is strong)or will simply hedge to try to come out b/e (minor retracements)—at the same time I keep an eye on wkly COT report (see cateful’s thread) & equity markets (a big time for me as I am trading carry pairs) to assess market sentiment for that particular day—I avoid early US sessions (that’s when i usually sustain my losses & market is also little undecided) & try to figure out next market direction from late US session onwards, e.g., if you see dow is closing strongly, you can be assured that asian markets will open strongly & G/J will move by atleast 50-100 pips from late US session onwards—I prefer to trade in late asian & early european sessions (besides being free from my work usually, i somehow can feel those markets better)—this is the time I’ll try to increase my leverage to maximize my gains—I follow fib numbers to increase account size i.e., 1,2,3,5k—-I decide on lot size as I risk b/w 15-30% on each position—I trade manually btw, no preset orders for me—i’ll never forget the feeling of putting in 60 std lots in a mini account—lol
Last, but not the least, BEGINNERS, PLEASE DO NOT TRADE THIS WAY WITH YOUR HARD EARNED MONEY YOU CANNOT AFFORD TO LOSE, UNDERSTAND WHAT YOU ARE DOING & THE CONSEQUENCES (TRADE YOUR PLAN, PLAN YOUR TRADE).
Thanks for all the encouraging words—El nacho, I put all orders manually—sometimes it took even 2 min to put all those orders in! Bt, in future, I don’t have to face that if evere I emulate this feat (as per another boarder’s advice, I can just type in my order)
MikeW, unfortunately I won’t feature i their contest as I already withdrew my winnings (that’s a/g the contest rules—)
FxKing, —well, my entries & exits are similarly based on the threads I mentioned above—nothing different—maybe I will exit little earlier as I have more lots than usual in play—
For example, one profitable trade i put on today: a sell order in Gbp/Cad & then exit — (S @ 2.0006 closed @ 1.9896—a total of + 110 pips gain)
happy weekend all.
Attached Image (click to enlarge)
Lots a thoughtful replies—hmmm, this thread is becoming interesting now—again, I duly acknowledge all the compliments—my purpose for this thread is to make a trader believe in his/her self & anything is possible in forex world with calculated risks & sound strategy—Just to add fuel to this discussion, I’m attaching my previous mth’s statement, when I turned 500 usd to almost 50k in a mth using various crosses (this is when I first tested this strategy in a live account)—
Now coming back to pipsqueak’s query, I usually attempt 3-4 times in a mth with small amounts upto 1k—I achieved 50k feat after 2 attempts & I made this 126k on my 2nd attempt this mth—so,total 176k out of 5 attempts (investment 4k usd—not bad huh! lol)
Sorry friendz—I’m travelling this weekend—-hence, I won’t be able to reply in timely manner—Thanks Buddhi for answering some of the boarders’ queries—as for the other questions, please read thru the whole thread— you will find the answers—
on Rogers’ query, I only take on longer TFs 1H & above—
On Euclid’s query, good question—although I don’t follow the equation closely—I start increasing my position size from 10% of my capital onwards as my winning percentage increases along with my confidence ultimately capping at 30% of the floating capital.
Just to keep this thread interesting, I’ll occ post my trades here also to better explain my method (well—not exactly mine—I just synthesized from other great contributors in FF), if time permits—Sunday night is always a lazy one for me
I entered this long trade Aud/JPY @ 94.37 closed @ 95.90 (+153 pips)
I am attaching the chart—