Do you think you can turn $200 into $400 in six weeks?
Uczestnik z Apr 10, 2013
29 postów
Apr 15, 2013 at 17:33
I will turn this account at least 50% ROI in 1 week https://www.myfxbook.com/members/minutemanmissile/minuteman-pips-missile/540520 watch me and what my EA can do. 😄
Apr 23, 2013 at 19:01
I average 200 pips a month, So i can easily turn $200 into $1000 within a month, have a look at my system.. No extreme risk, consistent weekly trade...
Accurate "Money Management" Eliminates Account Blowup / Managed Entry Prevents hiting "Stop Losses" / Calculated "Trailing Stops" Keeps Position intact / Watch your "Take Profit" takes care of it Self...
forex_trader_120758
Uczestnik z Apr 06, 2013
6 postów
Apr 23, 2013 at 19:11
Looked at your trades...impressive 3 weeks history, but only 3 weeks. I'd like to see a longer track record. Nice risk:reward. $200 into $1000 in a month would be 400%. I'm a bit skeptical on that claim.
Uczestnik z Apr 10, 2013
29 postów
Apr 24, 2013 at 05:31
I already made more than 90% in 6 days trading with my EA look https://www.myfxbook.com/members/minutemanmissile/minuteman-pips-missile/540520 anyone interested kindly PM me 😄
Uczestnik z Apr 10, 2013
29 postów
Apr 24, 2013 at 05:32
Ooops sorry wrong link. Here's the correct one https://www.myfxbook.com/members/minutemanmissile/minuteman-3-pips-missile-scalp/540955 😄
Uczestnik z Apr 14, 2013
402 postów
Apr 28, 2013 at 11:18
Grampus posted:
Hello everyone, the question 'how can I turn $200 in to $400 in six weeks' is a strange one. What are you going to do with the $400? Forex trading is not a get rich quick business it is for most people a really sophisticated 'get poor quick business' that thrives on the lack of knowledge of traders or a 'get rich a bit slower' business for those that have done their homework and have avoided or learned from the pitfalls.
I am assuming therefore that what people really want to know is 'how can I make a lot of money quickly and reliably'. Of course each person's view of what is 'a lot of money' and what is 'quickly' will be different but I guess most people would agree that a million dollars is a good benchmark for what is 'a lot of money'. To make a million dollars in theory can be done in three years starting with $1,000. Multiplying your money by 10 each year for three years be 10 x 10 x 10 = 1,000 x $1,000 = $1,000,000. How many millionaires do you personally know? So let's agree that it is not common and therefore not so easy as some marketing people would have you believe. This would equate to making around 21% profit per month each month and reinvesting the profits (i.e. not withdrawing it) for three years. Or perhaps you want a massive amount of money next month. Unfortunately it is much easier to make a lot of money slowly than fast and many people will spend a few years losing money till they learn this and either give up, run out of money or find a reliable way to trade successfully and learn to be a bit more patient. The time they waste looking would be better spent learning and investing.
There are two ways to be successful in this business and in my humble opinion only two, learn to trade yourself or let someone who knows how to trade manage your account for you, or better still a combination of the two so that you are independent and your risk is diversified across a number of different trading methods and accounts. To learn how to trade will take a significant investment of your time however if you keep at it the rewards are there, history tells us however that most people do not get to this stage. The smart thing to do would be study and while you are learning to let someone else trade for you so that you are still making money even while you are learning. This is where a money manager comes in.
The other more risky options are buying an EA (or lots of them) in the hope that one will make money for you or trade somebody's signals. These two approaches are risky for you as you have to pay upfront and the vendor will 100% benefit even if you do not. Ask yourself honestly if you had a successful EA would YOU sell it? If you answered yes the only plausible explanation is that you want money NOW so that you can either go spend it or invest it on your EA. But hang on a minute If I can make somebody $1,000 per day why would I want to sell it for $97 that doesn't seem fair does it? Personally I would want a share of the profits unless of course I knew that the EA would eventually lose a large chunk of my money. So even a successful EA owner should wish to be a money manager.
Please, please be wary of any fancy websites with people talking and long, long pages of emotive sales pitch talking of what it would be like to be rich etc. This is slick marketing, would you prefer to trust someone who was great at marketing or great at trading? If they are great at marketing where is their effort spent?
Oh and I will admit that yes I am a money manager and yes I have done all of the above, bought EAs, learned MQL and built my own EAs, spent thousand and thousands on courses etc so I have been in a similar situation to many of you.
My advice would be do your homework and at least learn how to qualify or more importantly dis-qualify all the hype. Back tests are for people who like to predict last weeks winning lottery numbers (i'm quite good at that but I can't seem to get next weeks quite right), people who sell EAs should be treated with great caution. Only trust INDEPENDENTLY verified trading history such as MyFXBook which is the gold standard. Even when you look at trading results do not look at the red account balance line, look at the yellow equity line because this is what you can actually walk away with. You cannot spend an account balance of $1,000 if the equity is $200. If the method increases lot sizes after a loss to 'make up for the loss' RUN FOREST RUN as this is the road to eventual ruin. The risk must be controlled at all times and losses must be taken with the same mental discipline as a win. Spock would have made a great trader if he wasn't fictional and from the future where they don't have money.
This is a serious business for serious people, the market does not care what you want to do it only cares what you do do (no doo doo jokes please :-)).
Good luck and I hope you have at least learned something, and yes if you click on my name it will take you to my page but seriously there are plenty of PAMM account providers than can trade for you, just make sure they know what they are doing. Is their monthly profit bigger than their drawdown, i.e. how quickly can they recover from a loss. Does the yellow EQUITY curve look sustainable or does it look like a drunk spider crawled all over the page?
The following link disproves your theory... That guy deposited 515 usd and turned it into 40k+ in 3 days.
https://www.fxjunction.com/profile/cupenk/W/stats
Focus on pip-drawdown
forex_trader_120758
Uczestnik z Apr 06, 2013
6 postów
Apr 28, 2013 at 14:23
Master_Kiwa offers some wise words to which I would add the following. It is not a question of whether a trader can double $200 once. I've certainly watched gamblers do this at the roulette wheel! The real question is can a trader provide consistent gains with tolerable DD (draw downs). MyFXBook.com provides a wealth of statistics on traders such as the Sharpe Ratio, Risk of Ruin, amongst others. If a trader is frequently incurring DDs of 20, 30 or even 40% can you tolerate this? or would you drop the trader in the midst of a huge DD? And if you stay with him, random variation will eventually lead to a DD too big to recover. Use the tools on MyFXBook. Run the numbers on Risk of Ruin. Keep your expectations reasonable. Utilize a few different traders trading different time frames and different pairs. Lack of patience, poor money management, and lack of preparation will destroy your account. Patience and Preparation are your friends.
Apr 30, 2013 at 06:55
TheLastBear posted:
I am wondering how many of you think they can turn $200 into $400 in six weeks? How would go about doing that?
I'am a kind of brand new in this form. I think I can do this. Just wonder for what reason you're asking.
As a matter of fact there's was a bet between me and 3 friends and for the purpose of how to proove what I belive & declare each day to them , I agree to make a test under this condotions :
Start with 1.000.00 $ and the goal was to make 100 % profit with max 1% risk entry, with less then 100 trades and no more then 5 minus trades in a week !!!
And I just did it. And majority here can probalby do the same.
Apr 30, 2013 at 10:51
I turned $300 into $1000 in a week here is the proof: https://www.myfxbook.com/members/doolph/yen-scalputor/549006
Uczestnik z Nov 21, 2011
1718 postów
May 04, 2013 at 00:01
doolph posted:
I turned $300 into $1000 in a week here is the proof: https://www.myfxbook.com/members/doolph/yen-scalputor/549006
Good job... Next week get 3000!
Uczestnik z Apr 14, 2013
402 postów
May 05, 2013 at 06:47
https://www.myfxbook.com/members/Master_Kiwa/focusonpipdrawdown1/556890 Did + withdrew 100%+ profit!
Focus on pip-drawdown
Uczestnik z May 20, 2013
3 postów
Jun 03, 2013 at 08:08
Have a look at our EA. We made on an Activetrade Liveaccount last month 88,71% with a drawdown about 20%
https://www.myfxbook.com/members/Black_Forex/activtrades-live-1-bft-one/576609
or at www.black-forex.com
https://www.myfxbook.com/members/Black_Forex/activtrades-live-1-bft-one/576609
or at www.black-forex.com
Made in Germany
Uczestnik z May 08, 2013
19 postów
Jun 12, 2013 at 15:10
pass..tq😝
experience + effort = wealth
Uczestnik z Jun 08, 2013
14 postów
Jun 14, 2013 at 08:59
Im trying
Uczestnik z Jul 10, 2011
165 postów
Jun 14, 2013 at 18:36
i can do it but i accept big amounts to manage , see my history
https://www.myfxbook.com/community/trading-systems/wwwforexmanagedbiz/260455,1
https://www.myfxbook.com/community/trading-systems/wwwforexmanagedbiz/260455,1
Uczestnik z Jun 08, 2013
14 postów
Jun 15, 2013 at 13:01
Uczestnik z Jul 10, 2011
165 postów
Jun 21, 2013 at 15:50
The balance of my account is now above $ 34 million dollar and i hitted my target.. see my history
https://www.myfxbook.com/community/trading-systems/wwwforexmanagedbiz/260455,1
https://www.myfxbook.com/community/trading-systems/wwwforexmanagedbiz/260455,1
Jun 22, 2013 at 08:11
fxtom... Since we live in REAL world and we buy our groceries with REAL money... please show me the REAL Account not demo. Until then, nobody is going to take you seriously
Success is not final, failure is not fatal: it is the courage to continue that counts
