How to start with $100 and turn it into 1 Million in 100 trading days!

[eremarket]

Tang. are you still looking to get into the E/A long?

[Master Tang]

Yup. Already in as a matter of fact. My super decoder ring determined it is a value trade with good R/R.

It's a long term idea. It's got a beefy swap rate, but if it doesn't waffle around down low too long, that shouldn't be a problem.

Likely to be in it until next week, or I decide to pull the plug.
No stop determined yet, nor t/p, just ideas. I'll let price action kinda tell me in a day or so. The lot size is minimal, if it starts heading up, I'll add.

I'm looking stay long until 1.36 or so, should it pan out.

I usually have one or two of these longer term things running usually. They generously add to the account in a nice steady way if you can find them

[eremarket]

1.36!!! are you from texas!? do you have a big hat?! 1.36?? cowboy!

lol

Ya... i like the thinking here too...actually didn't even consider swaps.... and euro fundies are not hot either...

but sentiment is tilting in favor of euro over aud.... and this is a parabolic move in.... and PA is now stalling....
I don't know about 1.36...as I see this primarily as a profit taking/short squeeze type bounce.... not an actual "buy value" move...or not much of that anyway....

but, cool. we both agree. there is good potential for value right here and now.


maybe next time i'll get the bat signal telegraphed to me when you buy.... i feel like the crooks almost got away while I sat by my window gazing upward...but alas...no bat signal!

must be this damn...stupid...orange plastic...ring... argh..

Jay

[eremarket]

Thanks for the post sean...i'll see what I can help ya with

Man, you are rockin this Jay! Keep up the good work.

I hit a funk on that large move up two days ago with the euro and the pound, getting burned significantly with both of them, in a live account. I've halted live trading to regroup, because it really demonstrated that I am not using a proven strategy and I was completely caught unaware.

I had demo'ed for a few weeks, and had a string of good trades, I think above 75% success, and moved the demo account from around $8500 to around $11,300. This made me think I might be ready for a live account, so I dropped in $485 and moved that up to $530 within a couple of days or so. So I added more, bringing it up to $2300, and since then nothing but downhill to $1660.

So, I need to pick up some basics that I realize I'm lacking in knowledge regarding. Starting with risk management. So when you say you are "risking .08%" does this mean .08% of your account at entry, or does it mean maximum loss with the stop loss? And are you talking about moving your risk amount higher next month because you feel that the system has been proving itself, or simply because the account size is increasing?

I've started watching the YouTube vids to try to pick up what you are doing with supply/demand, and I don't know if others have had this same thought, but it seems to be too grainy to pick up on what the candles look like where you are drawing your supply and demand zones. From attending the webinar (which was also grainy, all of it really being an issue with available bandwidth, nothing you are doing incorrectly) it seems like what those candles look like is a key part of the strategy, being that it is not just about highs and lows, but a particular type of response to the highs and lows in the fulfillment of orders. So I'm wondering if you might have the original videos that you recorded on your computer that could be directly transferred, as they maybe of higher video quality than what makes it out to the web.

Also, I don't want to take up too much thread time here, but I'm working on a strategy that will probably come across as childish, which makes sense, because I certainly could be considered to be a child in terms of forex experience, but if it works to make me even slightly consistently profitable, it is a good starting point. I didn't want to presume, but I'm wondering if I can drop you an email with an overview of what I'm developing and get some feedback. I have your email address already, just wanted the green light. I am also willing to post it to the thread and have it critiqued, but I didn't want to distract too much from the purpose of your thread.

One last question. Do you do back-testing, and if so, how do you do it? Is it all programming, or can you use a demo account, and go back to a certain point in time and manually trade forward for a period to see how it plays out? I've heard also that there are issues with data going back more than 2 years, things like averages used rather than OHLC, etc.

1. 0.08% risk means that if the trade hits my stop loss.... I will lose 0.08% of my balance. on a 1K account...0.08% is eighty cents. SO...this is a very tiny risk amount. My normal risk is 0.5% to 1% per trade in my primary acct.

I am increasing because I have a comfortable cushion below me now that will allow me to risk a bit more, without much risk of going below my starting balance. I HATE losing money... so I make sure that for this... I am virtually guaranteed to have at least 1K in it forever...no matter how bad I do.

for more info on how i draw sup/dem zones... read through my other thread (the one with the vids) I have some posts in their of how i determine them.

if your new strat has to do with sup/dem zones... post it up over there in my mentorship thread. if not...you can find my contact info in my profile I believe....check there

I used to do some backtesting. all manual. i'm no good with computers or technology.

Hope this helps!

Jay

[eremarket]

I also meant to post this link, this guy is doing the same kind of thing you are doing. He doesn't seem to give alot of background about the specific trades, and he seems to have a broader basket of things he is into (for instance it seems like a fair portion of his gains are tied up in some silver trades) but I just thought others looking at your thread might want to look at a similar effort.

His timeframe also seems to be much longer, around ten years, and his expected account balance much smaller, although there should be enough data to average his returns out and see if he is ahead of schedule or on track for a much higher return.

Infiniteyield Forex

Incidentally, after the webinar situation, I've got the impression that BP is kind of touchy about outside information, so I will state unequivocally that I have zero vested interest in anyone clicking on that link.

Jay, on another note, I also just wanted to mention something that you have maybe already thought of and have taken precautions regarding. I was thinking about your generosity in posting vids and doing webinars, and I would hate for any unscrupulous characters to take advantage of that. Have you considered the kind of information that is broadcast in those situations, such as your broker name, account number, etc? Or what you may have open in the background on your computer that may be visible for even a split second should you accidentally minimize your trading desk, or should it crash or whatever? You may not be recording the webinars, and you may be editing the vids, but others may record the webinars (along with whatever technical addressing information may be available from the broadcast, such as your IP address, although that may be masked by the webinar host). I'm not trying to make you paranoid, but if you have big $$$ in any way connected to the information you are broadcasting, you can't be too careful.

I've worked in IT for years, so this is the kind of stuff I think about. :-)


sean

Ya. never been to that blog. but it's cool glad to see someone do something like this out there in cyberspace.

As for acct info...thanks for the heads up However...that is an account I don't actually have any connection with, nor is their any money in it. Closed it years ago. just use the free charts i get

But...maybe i should consider this for the future as well. Thanks

Jay

[eremarket]

eur/usd long0 filled at 1.3482

stop 30 pips

target 40 pips

risking 0.35%


alreazdy filled

[eremarket]

reduced half my positon on eur/usd at BE.

[eremarket]

also...first losing order of the week. stopped out for 0.05% loss on the little bonus entry on eur/aud.

[eremarket]

long on eur/aud at 1.3143

30 stop

90 target

risking 0.05%

[eremarket]

closed out half of reamining eur/usd position at 30 pips

and the rest right now at 43 pips