$500 to $18m in 5 years...fact or fiction? - page 7
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usually i dont respond to this type of noob questions
but im gonna make it realy simple for you and other false dreamers.
no. its not possible to make that kind of gain.
but u should try it anyway so u know for yourself first hand.Imho, as a physicist, this strategy doesn't break any universal law, so it's possible... may be it is improbable... i think the main difficulty one has to overcome is human feelings...the rest it's just something you CAN control with really good technical knowledge, experience and dedication. It is just a mathematical model, so put all the variables inside this box(profits,losses, taxes etc), do the right calculation, and see what happen. Markets are no more then just dynamical complex systems. And at this moment in the history we can handle this kind of things... so the point is... we can also handle feelings? Yeah it's possible, but it's really difficult(at least for me). Anyway, if you can control greed, fear, emotions, thoughts etc, if you have time to study markets and dedicate(i mean, this strategy requires at least five years of hard work)... if you can stick to those rigid rules, and have discipline, of course you can make that kind of gain.
Yoshi
P.s.: let me know if you can, and i'll subscribe for a managed account
Guys if you can't make 5 or 10 pips a day consistently :
STOP TRADING NOW !!!
Guys if you can't make 5 or 10 pips a day consistently : STOP TRADING NOW !!!
Dont go knocking yourself out with the huge TP's there big jo...Try trading 5 lots and upwards at 10 pips seee how far you get..
Sorry bro, i'm trading a lot bigger than 5 lots
Sorry bro, i'm trading a lot bigger than 5 lots
Sure you are son, dont you know everyone is, thats why we're on here..LOL..
If your system cannot make 100 pips CONSISTENTLY every month per lot for 60 months, then this strategy is not for you.
If you CAN do 100 pips per every month without drawdowns on any month then this kind of information is not probably quite important.
I'm not trying to be nasty but not so easy to consistently do 100 pips per month without drawdowns. When compounding, the dd will also be bigger than you think.
It's a lot better to aim to small profit percentage per month and keep your risks low, not aim to $100000 million in 5 years however good it sounds on some excel sheet.
Just my 2
cents and cheers
edit: Oh the post was from 2006? Well this is my oppinion anyways :-)
Sure you are son, dont you know everyone is, thats why we're on here..LOL..
MENTAL STRENGTH
GREED
DISCIPLINE
Master yourself
@ BIG JOE, why are you hanging around here posting stupid comments if your such a successful trader....sad
@ This Post.....this whole concept is good and its what traders need to realize is the best way to make money from forex, yeah you have to pump money into your account for a few years, but eventually you'll get there and make big money.
BUT.....the idea of trading 0.1 lot for every 500USD is absolutely ridiculous! Even if you have a strategy that has a low drawdown, at some point you will be set back months or even to your start position. I think something like every 2000USD per 0.1 lot (5% investment) is playing it safe and increases the chance of actually making a good profit over time. Even if things went really bad, which DOES happen, then at least you will only be set back 2 months or so.
It all depends on hows much time/effort/money you want to put into it.
Like i've said before, if you want to make millions from a minimal investment in a short space of time, then you will just end up being one of the loosing traders that help me make profit.
Good post!
BUT.....the idea of trading 0.1 lot for every 500USD is absolutely ridiculous! Even if you have a strategy that has a low drawdown, at some point you will be set back months or even to your start position. I think something like every 2000USD per 0.1 lot (5% investment) is playing it safe and increases the chance of actually making a good profit over time.
Good post!I like it, please go on!. We really need some educated posts here..
2000 for 5% looks good i would even prefer 3%-2% and with 5000$ to start with this would have good cushion .
The idea is flawed beyond belief, in an ideal world yes, but not in the real world..