$500 to Freedom (500 to 5,000 in 1wk)

   TheCyclist posted:
   Petrus,

Don't fall for bullshit like that. I been in this game about 7 years now. It's a con. I bet you he's selling it for $100 somewhere.

Thank you.
PipGnostic to remind me.... :)

this was sent to me (PM) and I thought I would answer it for all.

FXTrendWorX
Hi Ken,

I just signed up with myfxbook, and noticed your postings. Can you tell me what strategy you are using to achieve the results to date? I downloaded the MACD you recommended, and understand the 2 Stoch.'s you are using. So, how do you get in and out of trades??

Much appreciated,
David

Hi David and everyone else
 Shorts
First I look at Macd on the 1, 5, and yes 15min- where is it heading is the blue line below the red on 5 & 15 (down)
Then I look at both Stoch on the 1 & 5 min are they both above 80 then wait for the cross on the 1min and then sell
keep watching the 1min stoch as it drops when it gets below 20 check the 5min stoch is it still heading down then you can hold for a little longer (IMPORTANT) as long as the Macd did not cross back, if the Macd crosses back on the 5 get out when the 1min stoch is below 20 and turning up.
Note: you will notice I lock in ASAP any profit at all, My broker set limit is 3pips so when I have 5pip profit I lock in 1/2 to 1pip
 there's more but that's the basic-practice practice you will (I hope ) see what I see and know when you can stay in or get out.
Do the opposite for a buy--

Good luck to all
Ken-TheForexFox

Added to above

Sometimes as long as the Macd on the 15min did not cross against me I will trade just the Stoch on both the 1 & 5 min.

   TheForexFox posted:
   this was sent to me (PM) and I thought I would answer it for all.

FXTrendWorX
Hi Ken,

I just signed up with myfxbook, and noticed your postings. Can you tell me what strategy you are using to achieve the results to date? I downloaded the MACD you recommended, and understand the 2 Stoch.'s you are using. So, how do you get in and out of trades??

Much appreciated,
David

Hi David and everyone else
 Shorts
First I look at Macd on the 1, 5, and yes 15min- where is it heading is the blue line below the red on 5 & 15 (down)
Then I look at both Stoch on the 1 & 5 min are they both above 80 then wait for the cross on the 1min and then sell
keep watching the 1min stoch as it drops when it gets below 20 check the 5min stoch is it still heading down then you can hold for a little longer (IMPORTANT) as long as the Macd did not cross back, if the Macd crosses back on the 5 get out when the 1min stoch is below 20 and turning up.
Note: you will notice I lock in ASAP any profit at all, My broker set limit is 3pips so when I have 5pip profit I lock in 1/2 to 1pip
 there's more but that's the basic-practice practice you will (I hope ) see what I see and know when you can stay in or get out.
Do the opposite for a buy--

Good luck to all
Ken-TheForexFox

Good trading. Thanks for sharing.

Ken,

Thank-you for getting back to me and clarifying your strategy. I have a similar strategy, that I'm using with the stochastic oscillator (9,3,3), on the M1. I'm going to watch this carefully, and incorporate into my trades. I've been trading stocks & Forex for the last 5 years, and have finally been trading & growing consistently. I'm trying to establish various layers of strategies, overall.

PS: I'm also new to myfxbook. Is there a trick to getting the account up and running on the site. I placed the broker and investor password in my settings, earlier today, and I still have a 'pending' status. I was hoping that my trades would start to show up on my account, here.

You're appreciated, Ken!

   damianus posted:
   Hi Ken...

Thank you for your compliment...:)
Well...I am still young and stupid....I willing to learn from others...( Including you )...

Btw ...There's nothing impossible in forex world...

Here the link that i would share to you...

mt4i.com/users/indrafxscalping


This guy start with $ 1000 then turn into $ 13 million just in 6 -7 hrs !!!

1000$ into 13 million is possible thats what i like about forex , but no broker with a minimum of 1000$ deposit would allow him to withdraw 13 million , if you'r aiming high you better go with the big guys , like hotspot (1million minimum deposit ) , marex (500k ) , LCG ........

It is not possible in 7 or 8 hours. In 24 hours that individual would have more money than Bill Gates. I think we'd have heard something by now.


 

   TheCyclist posted:
   It is not possible in 7 or 8 hours. In 24 hours that individual would have more money than Bill Gates. I think we'd have heard something by now.


 

it's incredibly hard but not impossible , if you have a good broker and giant balls of steel between your legs you can do it 😎

 when i was a beginner in forex i build a lot of strategies , one of them was about turning 10k into 19.2 million in only 12 trades 😎

100 pip each trade , 100 pip loss would be my entire account wiped out !
seems risky but if you think of it , you have more chances doing 12 win in a row than 300 !

that's the theory , but in reality risking my entire account on each trade would probably kill me , i wouldn't be able to handle the amount of stress that would cause , so i risk only 2~5% on each trade thats more comfortable

FXTrendWorX - I see you have your account posted- good luck and thanks for your kind words.

7forex below is a great post by Saltywaters- thanks for your comments- I see you really don't need any help with a system, your doing very well on your own-nice trading

Good luck to all- below is a GREAT post by Saltywaters-

 SaltyWaters posted:
   Based on what I've read around I rather start my view (not definition) with what is a bad trader.


A bad trader is one who doesn't succeed in making money even though he has read all the books about trading and belongs to a group of people who agree with him and call themselves 'the good traders' or the guys who know how to do it the way it should be done (they usually have nothing to show) but they still struggle to break even or they still end up losing.
He applies the rules he believes should make a good trader (e.g. tight SL) and tries to define a bad trader, usually setting the standards of trading or even teaching others (e.g. selling books that define what is a good trader) - pointing out things he sees on other traders that he can't do himself because he has no skill or he is a 'chicken' like trading without a SL or using a martingale strategy, grid, etc...

He often forgets the ones who succeed in this game are usually the ones who don't do what everybody else is doing. Because they have the 'Guts' or the 'Balls' to do it.

A good trader is one who makes money trading regardless of his style or strategy be it orthodox or not. He knows that there's plenty of wannabes out there that don't agree with him and will try to put him down by calling him names (e.g. gambler) or trashing his method (e.g. it will blow soon or later). He doesn't give a shit for what others say or do. He believes in himself and his strategy. He may be able to take more heat than others before chicken out and let the DD go deeper in order to get what he wants. He knows the risk involved and he is willing to take it. He will take the money and run when the time comes and bank the profits. Here he will laugh at the 'barking dogs' that say he is not a good trader then indifferently he will go back for more.

He is an individual that knows the risk involved in trading and he knows that he will win some and he will lose some sometimes but he keeps his equity growing.

A good trader knows that better than to be a 'good trader' is to be a 'Money Maker' and that is his ultimate goal.

In the end of the day the name of the game is 'make money' - and if you can have fun doing it is even better .


Cheers,

Salty


Hope you all enjoyed it, and thank you Salty for posting it.

No tylerbose,

It is impossible.

As you just re-iterated. Run your 12 trade thing. Prove me wrong. And you as well Ken, go live, show me how this works.

nothing is impossible !

if you can't make at last 12 winning trade in a row you'r probably a bad trader who doesn't have clue of what market analysis is
trading is not gambling !

i build the 12 trade strategy when i was a beginner in forex , i still believe that it is 'theoretically' achievable , can i do it ? no , i wouldn't be able to handle the risk and i don't think that anyone can ,
and btw , i'v been able to make more than 1200 pip win in a row so yes it possible but i'm more comfortable risking 2% of my account than 100% on each trade .

.....I'm going with TheCyclist on this one. The fact that he blew through 250K should be the prove point 😲

If it were 'possible' one of the gambling noobs would've hit it by now and be famous. Retail forex has been available since 1997, almost 15 years ago now. Makes you go 'Hmmmm, so in all those 15 years something like this hasn't worked?'

I reiterate my statement that demo and live trading are two very different things. Theoreticals and hypotheticals don't pay the bills, either.

   Splexin posted:
   .....I'm going with TheCyclist on this one. The fact that he blew through 250K should be the prove point 😲

If it were 'possible' one of the gambling noobs would've hit it by now and be famous. Retail forex has been available since 1997, almost 15 years ago now. Makes you go 'Hmmmm, so in all those 15 years something like this hasn't worked?'

I reiterate my statement that demo and live trading are two very different things. Theoreticals and hypotheticals don't pay the bills, either.

i totally agree with you demo and live are completely different , i know a guy who can double his account every month in demo , but he blew up 4 live account using the same strategy , when you trade live emotions and fear starts to kick in , you close your trade too soon , you may panic after a loss and start trading at the wrong time 😞

   TheCyclist posted:
   No tylerbose,

It is impossible.

As you just re-iterated. Run your 12 trade thing. Prove me wrong. And you as well Ken, go live, show me how this works.

PipGnostic-How did I get involed with this thing ?

Ask Tylerbose Ken.

Trading fx is about not taking risks, it's about managing risks, as you're on 50:1 minimum. You guys are talking about actively seeking risk. It's just rolling dice. Sometimes you'll get lucky, most of the time not. Got nothing to do with trading or trading systems. It's just gambling.

I can probably pull it off as I know my markets so well by now, but what is the point? I can't build a future on it. You'll always be just a few trades away from losing everything.

I used to operate like this years ago trading warrants (highly leveraged with time decay). Always went for the big score, put down 5k Monday, by Friday it's 50k. Beers on me...!! Ya - we all know how that ended, no beers at all.

Good 11 years later I can see how futile that was, now days I spend my hours trying to get rid of risk, my NAV increases more than a fraction I &#@#$ in my pants as I have to much risk on the table.

It's very simple, you can lose it at the same pace you making it. The more your NAV moves around the less likely you are to stay in the game.

I must of missed something. My risk has been all day and all this week is going to be 1.75 to 2% ( now last week when I started 20%) I would not do with a live account, This other thing about 12 wins in a row, sure I've done it, but it just happens with a good system. Can I profit the next 12 trades in a row maybe, maybe not I would not risk my whole account to find out, that is as PipGnostic said 'just rolling the dice' I'm in forex to support my family, pay my bills, not to take very high risk.(I will take some)
So again I don't know how I got dragged into this 12 thing but I would not put my whole account on each of the next 12 trades.

Good luck all

Ken- TheForexFox

Tylerbose-hang in there, practice=profit 😄

Right, so then, we all agreed that 500 to 5000 in a week is nothing more than a roll of the dice?

Correct, but done with a plan-No I did net expect 5,000 to happen but I did expect a profitable week in working my plan, (system)
  I expected 300 to 500 profit not 5000. I do avg 88% wins in my system so I was pretty sure I would not of blew the account. Just wanted to see what would happen if I started with only 5 trades, the 5 being if I loss the first 5 trades I would of blown the account 100% (5x20%=bye-bye)