$200 to $1,000,00?0
Tham gia từ May 22, 2010
46bài viết
Apr 18, 2011 at 06:52
psymon posted:
i like these threads because you should be able to set yourself absurd targets and go for it. I have a side account in which i have been trying for years to turn $25 into $50,000 in only 12 trades.
This isnt about trading for long term financial gain, its just for a little fun.
Plus its got to be possible i've just not managed to get past the 4th trade yet!
if anyone feels like having a crack my rules are as follows:
1, starting balance of 25$us
2, no more / no less trades than exactly 12 (the idea is to double the balance with every trade)
3, no more / no less than 12 days from first trade to last.
Have a bit of fun, its $25 and you might surprise your self!
Psymon
Chances for anyone to succeed in this challenge:
- Being extremely optimistic and assuming that you have an 80% probability to get a good trade at each stage: 0.8^12= 7%
- at a somewhat optimistic 50% success rate per trade, your chances are: 0.02% (1 in 5,000)
- at a reasonable 25% success rate of being able to catch a trade that can double your account, your chances to complete 12 levels are: 0.000006% (1 in 16,777,216)
It looks just a bit easiier thant wiinning the lottery, it is fun, and it is cheaper than a trip to Vegas.
I vouch for your idea. 😀
forex_trader_33781
Tham gia từ Apr 11, 2011
202bài viết
Apr 18, 2011 at 07:22
psymon posted:
i like these threads because you should be able to set yourself absurd targets and go for it. I have a side account in which i have been trying for years to turn $25 into $50,000 in only 12 trades.
This isnt about trading for long term financial gain, its just for a little fun.
Plus its got to be possible i've just not managed to get past the 4th trade yet!
if anyone feels like having a crack my rules are as follows:
1, starting balance of 25$us
2, no more / no less trades than exactly 12 (the idea is to double the balance with every trade)
3, no more / no less than 12 days from first trade to last.
Have a bit of fun, its $25 and you might surprise your self!
Psymon
In order to achieve this you would need to buy max size on every trade (which is way too much risk, margin calls will come frequently), as well as achieving minimum 200 pips profit on each trade also. Sounds feasible at first until you calculate the probability of 11-12 winners in a row. The guy above me did the math....maybe you should recruit 16,777,216 people to join you? Every person contributes a dollar and whomever achieves $50,000 in 12 trades gets the pot :)
And in only 12 days? I think you would have a better chance winning lottery scratch-offs from the local gas station.
P.S. Shouldn't it be 11 trades?
balance - $25
trade 1 - $50
trade 2 - $100
trade 3 - $200
trade 4 - $400
trade 5 - $800
trade 6 - $1600
trade 7 - $3200
trade 8 - $6400
trade 9 - $12800
trade 10 - $25600
trade 11 - $51200
trade 12 - $124000
Tham gia từ Apr 01, 2011
61bài viết
Apr 18, 2011 at 11:05
@ sean, hey ya, your quite right it should be 11 trades, i stand corrected :) but i have recently read my brokers fine print, and they change the leverage after 25000. so its a far more realistic 25 to 25000 in 10 trades in 10 days 😁 lolz. and yeah its margin call or money on each trade!
its only a 1000% increase in 10 days! ( pfffttt )
the idea was to use a std account and trade to start with 0.1, make 25pips on each trade (after spread).
@horacioo 10 perfect trades in a row, everything stacked against you, it becomes about fine tuning your entry points. and having a 100% success rate. i'm going to try again tomorrow hehe
I think that everyone who trades has one good trade of 25+points a day? no?
loving this thread
Psy
its only a 1000% increase in 10 days! ( pfffttt )
the idea was to use a std account and trade to start with 0.1, make 25pips on each trade (after spread).
@horacioo 10 perfect trades in a row, everything stacked against you, it becomes about fine tuning your entry points. and having a 100% success rate. i'm going to try again tomorrow hehe
I think that everyone who trades has one good trade of 25+points a day? no?
loving this thread
Psy
its all down hill from here!
forex_trader_33781
Tham gia từ Apr 11, 2011
202bài viết
Apr 19, 2011 at 02:19
(đã sửa Apr 19, 2011 at 02:21)
psymon posted:Ah, I was mistaken in saying 200 pips minimum for each trade. I didn't realize you would be trading 500:1 leverage (which is dangerous in itself!). Here in the U.S. we are restricted by law to maximum 50:1 leverage, anything over that and you have to go with an offshore broker.
the idea was to use a std account and trade to start with 0.1, make 25pips on each trade (after spread).
I think that everyone who trades has one good trade of 25+points a day? no?
loving this thread
Psy
So the 'game plan' would go something like this--
#|Lots| Pips |Profit| Balance
1 | 0.1 | 25 | $25 | $50
2 | 0.2 | 25 | $50 | $100
3 | 0.4 | 25 | $100 | $200
4 | 0.8 | 25 | $200 | $400
5 | 1.6 | 25 | $400 | $800
6 | 3.2 | 25 | $800 | $1600
7 | 6.4 | 25 | $1600 | $3200
8 | 12.8 | 25 | $3200 | $6400
9 | 25.6 | 25 | $6400 | $12800
10 | 51.2 | 25 | $12800 | $25600
11 | 102.4 | 25 | $25600 | $51200
So yeah, a good 25 pip trade is possible every day. But I think the major problem would be margin calls. The price doesn't have to dip far to totally wipe you out. Especially at 500:1 leverage. That's scary. The 'best' hypothetical scenario would be to just trade breakouts and hope it's full steam ahead and not going to turn against you. You would have to be completely on your toes and click BUY/SELL at precisely the right moment. lol
Apr 23, 2011 at 14:00
Splexin posted:
psymon posted:Ah, I was mistaken in saying 200 pips minimum for each trade. I didn't realize you would be trading 500:1 leverage (which is dangerous in itself!). Here in the U.S. we are restricted by law to maximum 50:1 leverage, anything over that and you have to go with an offshore broker.
the idea was to use a std account and trade to start with 0.1, make 25pips on each trade (after spread).
I think that everyone who trades has one good trade of 25+points a day? no?
loving this thread
Psy
So the 'game plan' would go something like this--
#|Lots| Pips |Profit| Balance
1 | 0.1 | 25 | $25 | $50
2 | 0.2 | 25 | $50 | $100
3 | 0.4 | 25 | $100 | $200
4 | 0.8 | 25 | $200 | $400
5 | 1.6 | 25 | $400 | $800
6 | 3.2 | 25 | $800 | $1600
7 | 6.4 | 25 | $1600 | $3200
8 | 12.8 | 25 | $3200 | $6400
9 | 25.6 | 25 | $6400 | $12800
10 | 51.2 | 25 | $12800 | $25600
11 | 102.4 | 25 | $25600 | $51200
So yeah, a good 25 pip trade is possible every day. But I think the major problem would be margin calls. The price doesn't have to dip far to totally wipe you out. Especially at 500:1 leverage. That's scary. The 'best' hypothetical scenario would be to just trade breakouts and hope it's full steam ahead and not going to turn against you. You would have to be completely on your toes and click BUY/SELL at precisely the right moment. lol
Its pretty hard trying to become a millionaire overnight starting with $25..but it becomes a little bit easy if a more realistic goal is set..
How about starting with a $50 account and try 100% per year....see hw it adds up and you retire rich...this is more realistic
year capital profit balance
1 50 50 100
2 100 100 200
3 200 200 400
4 400 400 800
5 800 800 1600
6 1600 1600 3200
7 3200 3200 6400
8 6400 6400 12800
9 12800 12800 25600
10 25600 25600 51200
Keep adding up and see how long it takes to get to a million dollars.......
Now try with a starting capital of $1000 and see how soon you'll get to the six figure and more status...
This is more realistic and achieveable if you're focused and determined....
Tham gia từ Nov 18, 2009
735bài viết
Apr 23, 2011 at 19:33
Yeah, a 10 year plan looks better .. but you still need a lot more than determination and focus ...
You need a solid source of income to pay the bills while you're trying to double your money year after year ... and you need luck to have 10 winning years in a row ... in fact you need a lot of luck for that ... you need to be the luckiest person on earth.
Speaking probabilistically, a three legged hippopotamus has better chances of winning the Epsom derby than anyone making 100% year after year.
You need a solid source of income to pay the bills while you're trying to double your money year after year ... and you need luck to have 10 winning years in a row ... in fact you need a lot of luck for that ... you need to be the luckiest person on earth.
Speaking probabilistically, a three legged hippopotamus has better chances of winning the Epsom derby than anyone making 100% year after year.
FTA01 posted:
This is more realistic and achieveable if you're focused and determined....
Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Tham gia từ May 22, 2010
46bài viết
Apr 24, 2011 at 19:15
Hey guys, chill out. Psymon is proposing just a game or a challenge.
Nobody in his mind would consider that as Investing.
I congratulate his idea of taking the drama out of this thread.
If anybody thinks he can get 10 25 pips trades in a row join his competition. If you succeed your price is 25k. If you loose, and you probably WILL, you will loose your entry fee of 25 dollars.
(but please do not do it on your main trading account, this challenge WILL blow your account).
Cheers,
H
PS My trading skills are far too poor and undeveloped to join this callenge, but my honest best wishes and good luck to anybody who attempt to do this.
Nobody in his mind would consider that as Investing.
I congratulate his idea of taking the drama out of this thread.
If anybody thinks he can get 10 25 pips trades in a row join his competition. If you succeed your price is 25k. If you loose, and you probably WILL, you will loose your entry fee of 25 dollars.
(but please do not do it on your main trading account, this challenge WILL blow your account).
Cheers,
H
PS My trading skills are far too poor and undeveloped to join this callenge, but my honest best wishes and good luck to anybody who attempt to do this.
Tham gia từ Jun 07, 2010
82bài viết
Apr 25, 2011 at 02:17
I think it can be done. You just need to know how.
Grace is the greatest thing ever!
Tham gia từ Apr 01, 2011
61bài viết
Apr 27, 2011 at 17:00
finally got around to transferring some play money, the first trade is done, i will try and get the account on here.
10 perfect trades in 10 days, if anyone feels like throwing in some trading ideas please feel free :)
10 perfect trades in 10 days, if anyone feels like throwing in some trading ideas please feel free :)
its all down hill from here!
Tham gia từ Apr 01, 2011
61bài viết
Apr 27, 2011 at 17:20
feel free to have a look and laugh, i'm sure i'll burn the account before the week is out...
https://www.myfxbook.com/members/psymon/25-25k/102369
good trading
https://www.myfxbook.com/members/psymon/25-25k/102369
good trading
its all down hill from here!
Tham gia từ May 22, 2010
46bài viết
Apr 27, 2011 at 17:33
Psymon
I think Tom Yeoman had a 20+ strait trades record using just a strengh meter and 2 moving averages.
You can do it!
Best of pips for you!
I think Tom Yeoman had a 20+ strait trades record using just a strengh meter and 2 moving averages.
You can do it!
Best of pips for you!
Tham gia từ Apr 01, 2011
61bài viết
Apr 27, 2011 at 17:40
thanks h.
😀
😀
its all down hill from here!
Tham gia từ Apr 01, 2011
61bài viết
Apr 28, 2011 at 07:53
2 down 8 to go...
its all down hill from here!
Tham gia từ Apr 01, 2011
61bài viết
Apr 29, 2011 at 08:16
3 down 7 to go...
its all down hill from here!
Tham gia từ Apr 01, 2011
61bài viết
May 02, 2011 at 02:54
4 down 6 to go...
its all down hill from here!
Tham gia từ Apr 01, 2011
61bài viết
May 03, 2011 at 07:46
5 down 5 to go...
its all down hill from here!
