50k dollars a month - page 21
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Oh was that you in ff forum? i saw this topic
I posted this topic here for the same reason just to let you know, and im 2.5 years trader so you got the idea
Fred7777:
I have eliminated all risk with very specific money mangement strategies so I can never blow up.
SafMoseSteve:
Happy to read this line, hands on experience which was looking for, thanks
Thanks it has taken many many years to do this. If anyone is interested read Dr Van Tharps Strategies for money mangement.
https://www.youtube.com/watch?v=QjFRVPWpEuY
This changed the game for me.
You know my motto about trading is :
"Its very easy to make money. Anyone can make money. The challenge is not losing it thats 99.99% of the battle"
Thanks it has taken many many years to do this. If anyone is interested read Dr Van Tharps Strategies for money mangement.
https://www.youtube.com/watch?v=QjFRVPWpEuY
This changed the game for me.
You know my motto about trading is :
"Its very easy to make money. Anyone can make money. The challenge is not losing it thats 99.99% of the battle"
Definitely interested i heard his name while i was reading the book "Bollinger for bollinger bands" and John bollinger advised "in one of his videos" to read Van Tharps book together with Ralph Vincent on position sizes, but i didn't read it yet
Came in the right time, i should use this now
I am not going to waste my time learning how to show you my demo history on my mobile MT5.
I know what your doing and Ive done the same as you. I might suggest using live for all your trading even if its for "practice". What I do is use tiny amounts of money for a strategy like $1.00 or $2.00 on then you can see if your strategy is working with Real Money. If it is working then start compounding your profits but do it gradually and steadily. You do not want to even lose 0.50 cents as you worked hard to make that 50 cents ! . Then start compounding the money you made by a exponential factor like $1.00, $2.00, $3.00, $5.00 ..... $10.00 $15.00 $20.00 .... $100 $120 $150 ....$1,000 $1200 $1500 ....$10,000 $12,000 .... $100,000 ...$200,000 .... $1M etc etc
This PROVES your strategy is working only by using money you made.
I did this starting with $5.00 Leverage and $500 Position and worked my way up after 1 year to a $200K position.
Now if you do this on a Demo account its not the same. You feel much more attached to $5.00 of REAL Money rather than $5M Fake Money. And you need to train your whole psyche for real money no matter what the amount.
One more suggestion is I dont use targets like make 50 pips a day/week etc. I focus on just being successful and allowing the market or strategy to run to its logical conlclusion. Then when I look back at my results I see that Im making 11 pips per trade over 100 trades. But I didnt aim for that thats just what the strategy returns.
Definitely interested i heard his name while i was reading the book "Bollinger for bollinger bands" and John bollinger advised "in one of his videos" to read Van Tharps book together with Ralph Vincent on position sizes, but i didn't read it yet
Came in the right time, i should use this now
Yes he has written many many books etc But I just saw that video and learned everything from it.
Now I have my own strategy but the principle is very similar to Van Tharps video. It was a game changer. And its so easy and just makes so much sense.
I know what your doing and Ive done the same as you. I might suggest using live for all your trading even if its for "practice". What I do is use tiny amounts of money for a strategy like $1.00 or $2.00 on then you can see if your strategy is working with Real Money. If it is working then start compounding your profits but do it gradually and steadily. You do not want to even lose 0.50 cents as you worked hard to make that 50 cents ! . Then start compounding the money you made by a exponential factor like $1.00, $2.00, $3.00, $5.00 ..... $10.00 $15.00 $20.00 .... $100 $120 $150 ....$1,000 $1200 $1500 ....$10,000 $12,000 .... $100,000 ...$200,000 .... $1M etc etc
This PROVES your strategy is working only by using money you made.
I did this starting with $5.00 Leverage and $500 Position and worked my way up after 1 year to a $200K position.
Now if you do this on a Demo account its not the same. You feel much more attached to $5.00 of REAL Money rather than $5M Fake Money. And you need to train your whole psyche for real money no matter what the amount.
One more suggestion is I dont use targets like make 50 pips a day/week etc. I focus on just being successful and allowing the market or strategy to run to its logical conlclusion. Then when I look back at my results I see that Im making 11 pips per trade over 100 trades. But I didnt aim for that thats just what the strategy returns.
Yes he has written many many books etc But I just saw that video and learned everything from it.
Now I have my own strategy but the principle is very similar to Van Tharps video. It was a game changer. And its so easy and just makes so much sense.
I just wanna make sure i got this, from 500$ position worked for a year up to 200k position? I won't look at numbers here since every trader's profits are different, but did all your knowledge and hard work lead to great success? not just regular success?
Yes?
I just wanna make sure i got this, from 500$ position worked for a year up to 200k position? I won't look at numbers here since every trader's profits are different, but did all your knowledge and hard work lead to great success? not just regular success?
Yes?
Yes from $500 Position to a $200K Position using Van Tharps strategy. I made good money and I kept that money (Impossible to blow up) but the pattern has stopped. It was trading the Interest Rate Spikes when world Interest Rates were coming down so that pattern has subsided. Nevertheless it was the first real successful strategy I had used after trying thousands and ending up no where.
I am using a second strategy now which is working well also and building my position size up again - so lets see how that goes.
Yes from $500 Position to a $200K Position using Van Tharps strategy. I made good money and I kept that money (Impossible to blow up) but the pattern has stopped. It was trading the Interest Rate Spikes when world Interest Rates were coming down so that pattern has subsided. Nevertheless it was the first real successful strategy I had used after trying thousands and ending up no where.
I am using a second strategy now which is working well also and building my position size up again - so lets see how that goes.
Geez after 21 pages and lots of discussions
I would want to know how that goes as well, im only guessing that you have all the right tools to win, did you try trading oil? it has lots of spikes but i have no idea since i don't trade news nor spikes
Geez after 21 pages and lots of discussions
I would want to know how that goes as well, im only guessing that you have all the right tools to win, did you try trading oil? it has lots of spikes but i have no idea since i don't trade news nor spikes
Yes Its a much more improved version than my last strategy. But the first one gave me a Tremendous Amount of Confidence to know I can make money from the market and Keep it.
My current strategy is based on the PSAR Indicator so its not dependent on any news events. Im trying to automate it at the moment as doing it manually. Talking to a few Developers but need to get it done if you know anyone that can do EAs for a PSAR ?
My Idea is what ever Im doing now manually I can multiply many many times over on other securities maybe 100 times + ?
Just to report you an example: there was an assistant of a well-known trader that was able to commute 10k in 1 million just in 1 month but at the end of the month he burned the account and he did this experiment for several times with the same result, in the end he gave up.
Another trader in particular market conditions transformed 6k in over 30 million. The fact is that we are talking about extremely rare events, assisted by a great deal of luck and for limited periods!
The question it's all around the RISK you are willing to take for your trading capital.