How to become rich in FOREX trading? Instead of getting by? - page 5
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Hey David if i help you crack this case will you display your strategy for all of us to see because 100 percent a year is not bad.But keep in mind I'll totally understand if you don't want to share your system and I will help anyways So lets begin shall we? being that you say you can make 100 percent a year lets take a deeper look at how to get to a million,mladen did spot us a good clue and head start on how to go about doing this that vid is old school by the way but based off these figures to calculate properly more info is needed such as instead of focusing on percentage which you say is 10 percent a month,how many pips on average per month minimum to maximum can you say you expect to nail down consistently like clockwork this is what you have to be sure of in order for this to work ex.100min-1000max After the answer to this question we can proceed to the next stage
I trade with MACD couple with RSI
. I have no per month quota. On average, 5~10% a month. Sometimes few months no trade, I can't do anything about it if I aint spot any nice setup. Sometimes I win, sometimes I lose. 4000pips net in 2 years.
choose a good broker , with a high leverage trade and become rich it is so easy
I'm sorry, my risk reward ratio is 1:3. My winning ratio is below 70%. My record is 6 consecutive losses, and imagine if I make full use of 1:100 leverage, I guess I already wiped out my account. Anyone time I'm not allowed to have drawdown of more than 30% or I will stop trading. High leverage is meant for scalpers or noob to blow up their accounts. Thanks for your help.
And with high leverage even easier to stay without anything
Correction, with high leverage is even easier to leave trading without anything left.
how to do ride the trend that is question to ask your self.
I had an answer, but every trader have their own answer.
I leave the money there for the next 10 years, I still don't have my 1st million dollar yet
10 wont do but 11
will do .
Assuming 100% on each year and starting with 1000$
1000 Year 1
2000 Year 2
4000 Year 3
8000 Year 4
16,000 Year 5
32,000 Year 6
64,000 Year 7
128,000 Year 8
256,000 Year 9
512,000 Year 10
1,024,000 Year 11
Two years gone since 2010 still 9 more to go. On the other hand if you are that good there are many places where you can post your statement and if the DD is low and you make 100% per year , you will have no trouble finding investors.
My 2 cent
10 wont do but 11
Assuming 100% on each year and starting with 1000$
1000 Year 1
2000 Year 2
4000 Year 3
8000 Year 4
16,000 Year 5
32,000 Year 6
64,000 Year 7
128,000 Year 8
256,000 Year 9
512,000 Year 10
1,024,000 Year 11
Two years gone since 2010 still 9 more to go. On the other hand if you are that good there are many places where you can post your statement and if the DD is low and you make 100% per year , you will have no trouble finding investors.
My 2 centGood to see you here. Before anything, let me apologize for the childishness I used to behave. Frankly speaking, after I stop programming and stop finding ways to make consistent profit, and consistent profit came naturally. I guess the kind of "focus" I used to have is a distraction. I was so focus in trying to perfect and tweaking things in and out, in the end all the time and effort was spent on finding it instead of using it
About finding investors, tried that, did that. In the end, disaster. The investors will simply call up and ask why my money is at the negative floating point? Why is this? Why is that? Are you sure you wanna go long with the CAD? Are you sure this is a good time to sell the YEN? There was once, I was holding a long EURUSD, it was mild profit about 60pips, but then some financial event make a whiplash that sweep away all the profits down to short 10pips in an hour or 2(I already have stop loss in place, but open take profit at that time since I'm waiting the trade to turn into more stable position). The next thing I found out was the trade was closed and I was logged out from the account already. Within the next hour, I received a note of contract termination due to violating term of agreement(fuck me man, they violated it! they closed the damn trade). I ride on the same trade for 2 months and yielded 931pips.
You'll probably suggesting silent investor, no way to do that in my country. Anything above 10k local currency, we're above the radar already(especially money from overseas). Investors always demand your track record, and after you reveal to them you can do 100% a year, they'll be gradually pressuring you to submit 8.33% profit to them every month. I know you understand, I understand it too, but they don't!
I appreciate you put up the compounding table
I'm more interested to know, how to have that 1 million now! Not 10 years later. Kids are growing up, my local economy is getting worst. I must say I'm lucky enough to hold on to an fuckin underpaid job. The trouble is, if I withdraw now I'll be back to 0. Now my wife is asking me to make a trip to California to visit her sister next year... let me see... by next year I'll need to fork out 20k for 3 weeks expanses in overseas including return flights, haven't include expanses for the kids that got stuck here with their grannies.
I seriously lost my 11 years in trying to succeed in trading(if according to your calculation table) or I won't be asking questions like the title of this thread
...
tell your wife "NO"!
David ,
I guess the question would be how to promote your talent
to the world ?
You speak more than one language, your country have one of the biggest economist in the world with decent size population , you know how to code . Make use of these facts ; Build your own site and/or use public forums to advertise yourself. Do whatever it takes to promote yourself.
Best of luck ,
MiniMe
tell your wife "NO"!
Very funny
- liked x 100
David ,
I guess the question would be how to promote your talent
to the world ?
You speak more than one language, your country have one of the biggest economist in the world with decent size population , you know how to code . Make use of these facts ; Build your own site and/or use public forums to advertise yourself. Do whatever it takes to promote yourself.
Best of luck ,
MiniMeSome of the facts are legit, some are totally falsify claims in my country
Speak in many language/dialects = YES
Country have biggest economy with decent size = Disagree, our majority income earners stay below $250 a week. However, if you're talking about corruption... yes our country is 1 of the great in the world
I know how to code = Yes, MQL4
But thanks for the useful advice. Seriously, I think I need to stop whining for the 1 million and start praying to get out of this country
...
Glad that you liked it...Now, check what is going on in Cali with gasoline...you got a reason not to travel over here...serious reason:)
Glad that you liked it...Now, check what is going on in Cali with gasoline...you got a reason not to travel over here...serious reason:)
You've seriously missed the idea. Visiting a family member aint anything to do with gasoline price. Be it $100/G, we'll still have to go, just because that's her sister
Besides, that's not very expansive compare to my country. In my country, our average hourly earning is about 5 bucks, but we're paying 8 bucks a gallon. Already got used to it
...
what country is that...if not a secret...do you have public transportation...do you have large distances to travel every day?
You've seriously missed the idea. Visiting a family member aint anything to do with gasoline price. Be it $100/G, we'll still have to go, just because that's her sister