The easy part is doubling your account in a month. The hard part is keeping it.
Listen with Forex you can easily make $1000 a day with just $25 in your account.
If you use a 1:400 leverage you get up to $10000.
Each currency pair moves hundreds of pips everyday up and down. So with 1000 pips you would get your $1000.
Thatās not the point however.
The point is most of you wonāt take the time to learn how to trade. Most of you spend money towards making money but you never spend time.
I am telling you right now that if you want to do this for a living.
Quit your day job and for the next 12-24 months spend 12 hours a day studying all this in-depthly.
Most of you want to make money without devoting any actual time to learning. Thatās not the way it works.
Most of you have jobs, families, other hobbies, etc. You think that reading Babypips for 30 minutes will make you successful?
Ask any successful trader out there. He/She will tell you they lost lots of money in the beginning and it wasnāt until a substantial time later that they finally became successful.
Let me tell you something. Indicators and EAās donāt work. If they did then the market wouldnāt exist. Itās as simple as that.
The forex market is a very difficult market to trade and thatās a good thing. If it was easy then everybody would do it.
I guarantee you that if you studied all this instead of going to college for a couple years then you could easily pull 5 figures salaries a MONTH (not a year). Now what diploma/degree gives you that kind of return? None.
So ask yourself this:
Can I dedicate at least 12 hours of each day for the next year or so to trading the markets and learning?
If yes then there is a very slim chance that you will make LESS money than a medical doctor.
If you donāt have the time to dedicate then just stick to trading stocks. Stocks are easier to trade and most of the time if you make a bad stock pick usually in time the stock will eventually be profitable, you donāt have this advantage in forex.
Good luck.
[B]No you can not!!!
[/B]Youāre the same guy who asked in another thread if your broker will terminate you if youāre successful with a live account and now here you are telling us, as if you knew, what it takes to be successful etc.
Newbies never cease to amaze me[B].
[/B]
Something smells fishy here so to speak with [B]adaseb[/B].
A user called [B]adaseb[/B] is active on another side that holds a grudge against babypipsā¦have a look at attached image.
Youāll find the place hereā¦
kreslik.com - Traders Community :: Home Page
All posts from a user called [B]adaseb[/B] are hereā¦
kreslik.com - Traders Community :: Search
I disagree totally about signals and indicators not working! Itās true one or two will not work, but if you use several at once and WAIT for them to do EXACTLY what they need, it will work! In addition, it would be stupid to use 400:1. When Iām not working I am studying trading or practicing on demo, so yes, devotion is required.
Iāve been at this a month on the demo now and I have in fact doubled it. Iāve taken losses like anyone else (due to impatience, not fully awake, impulse), part of the game. The challenge for me will be doing this consistently, will be practicing a few more months. Weāll see what happens.
Good find Cas!
A little off the track butā¦
Hmmmmm.
Kreslik.com eh!!
ā¦and it holds a grudge against Babypips!!!
Yesā¦well. 
Need I say more!!?
ahh you canāt hide from google. 
rotfl
Boy what a topic comes up all the time too. With learning and the proper emotional skills. Doubling a account in a month should be easy. The question is and alway will be are you willing to do what is required to acheive that goal. You have heard from some very good traders here. Most have said they are profitable to a degree, but most also say they only trade minimal hrs per day. For most of them and a simple math formula you could see they could double there accounts per month as well.
As far as a trillion, Well the issue becomes comfort zone. I personally know 3 7 figure traders. At that level they are all to a person only trading a fraction of one precent as this is what they are comfortable to do. I know one trader who started here on Baby Pips. Started Live trading first of this year . His intial goal was to make 40 pips a day. He averages over 2000 pips a week and his goal is 1500 per week. He only trades 1 percent or less per trade. he will hit 7 figures before the end of the year having started at 15k. He also trades almost 24 hrs a day. He trades every session. he gets entries gets the trades locked in and then checks them later . But is always at the computer during the start of every session. US/ Asia , Frankfurt and London.
I have been posting the the system he and the others use on the free forex strategies section. Most of the traders who get that strategy and trade all the entries are making between 30% and 100% gains per week. On small accounts and the large accounts over 100K make about 20%
The only reason I come on here to say this is because most traders look to much to the negative of this market. But they almost always havenāt given it a fair trial. If you started your own bussiness of almost any kind you would have to work 16 to 18 hrs a day to get it off the ground. or more. If you learn anything about trading and make a positive gain on a weekly or monthly basis trading a hr or two a day. what could you achieve with 12 or 14 hrs ?
Then what if you had Different technics to tackle all the different types of price movements we see in this market. Trending , or ranging. That is the key you can not be satisfied to know only one type of trading you must understand the complete package to be truelly successfull.
I know great traders who just because of the change in the market movement they lose.The entries are still good but the ranging market isnāt accounted for in their strategy. If their Money Management is good they still succeed but it can really make you think that you canāt really succceed to a high standard as this year we have had a lot of these ranging times.
The traders that put in lots of hours and have good short trade startegies always see steady gains as they arenāt looking for big movements but if they donāt let the market give them what it will, by letting profitable trades run they could be holding themselves back also.
So the point is donāt be a Black and White Trader. There is a reason that all different type of traders succeed. Almost every startegy works the only thing different is the trader. Learn proper Money and Trade management.
Money Mangement will help you to keep your money Trade Management will help to make you money.
Sorry for such a long post. Just everyone needs encouragement anything is possible, But most will not succeed, they have the desire but not the will to do it. It is easy to want money it is a totally different thing to really work for it.
Hope Everyone is Having a Great Weekend. Ken
As far as my trading I made a 100% last week risking 3% small account
I think I know what youāre trying to say, but that statement sort of contradicts itself.
Surely all traders, great or not, are going to have to accept & account for changes in market tension, volatility & behavior in their strategy or system planning?
If they were great traders, they would already know what works for them in different market conditions & would be in a position to identify & adapt to changes in market behavior sufficiently soon enough for it not to adversely impact their equity?
If not, then I doubt they could be considered great traders.
I agree, the last twelve months or so have been challenging, but Iām sure the successful traders have not only recognized that fact, but put into place safeguards to ensure their account balances are adequately protected & cushioned wherever possible.
Capital preservation taking prominance over winning at all costs.
Yes your correct, Not the best use of wordsā¦
re: I have been posting the the system he and the others use on the free forex strategies section.
Is this the thread you refer to?
http://forums.babypips.com/free-forex-trading-systems/29160-true-pa-trading-using-mas-s-r.html
Ken, I have to agree with you on this. As a mere newbie, I have found that doubling the account in a couple weeks is not that hard. The problem I have run into is keeping it and doing it again. Itās fairly obvious once the market has taken a big swing like it has in last couple weeks, EURUSD in particular, if you were on the right side of this trade, doubling the account would not have been difficult. If you happen to have been on the wrong side, oh wellā¦ hopefully you were not over leveraged and were using good MM. Otherwise bye bye account.
So back to the original question, is it possible? Absolutely. Is it probable? Depends entirely on the trader. The market is always ready to give to those who are ready to receive.
There is a great deal of chatter on here sometimes so it is hard sometimes to sort out what is the good stuff from the bad, especially for a newbie. Those who are old hands at this stuff can smell it a mile away. Your posts I have found to be quite informative. I will keep following them.
When I first started demo trading, I was using way too much leverage 10 lots per 10K. Yes, I doubled my acount in a week but is was mostly luck. Then I went to 5, then to 3, now I am at 1. I may go even lower due to my trading methodology, which I know works, I just have to work the kinks out of it.
The more I experiment, the more I realize itās not the size of the trade but how well itās executed (no pun intended). It doesnāt really make any difference how many zeroās are at the end of your account balance. The trades are the same. Psychologically there is a big difference though between a 1K, 10K and 100K account. If I lost 1K, or even 10K I would not like it. But it would not kill me. If I lost 100K that would be it for me. No more trading.
And congratulations on your very profitable week!
V;)
In itās most basic level that is correct.
It doesnāt really make any difference how many zeroās are at the end of your account balance. The trades are the same.
The zeroās determine how far you are away from that basic level.
A trade excecution requires different method, planning, strat and management the more zeroās there are.
You donāt excecute a 1 Mini Lot trade the same way as a letās say a 500 Lot trade.
Psychologically there is a big difference though between a 1K, 10K and 100K account. If I lost 1K, or even 10K I would not like it. But it would not kill me. If I lost 100K that would be it for me. No more trading.
A 1% loss on a 100 Million$ account = 100k. Therefore 1 losing trade with a 1% risk per trade and you are finished.
.25% risk per trade will give you 4 straight losing trades. And you are finished.
Worth a thoughtā¦
I was speaking relative to where I am right now. If of course my account were $100 million, then that would be different. 
As far as what lot sizes has to do with execution method, style and planning, could you perhaps explain what you mean? I would suppose that orders that large may be handled differently than say 1 mini lot orders, but I would not know. Also, I suppose that if an order were large enough it could conceivably, if only temporarily, affect the market. I cannot imagine that I would do any one single trade using 500 lotsā¦ unless of course I were trading that $100 million account you were talking about. :rolleyes:
Noā¦I donāt think so.
It would be worse for ya.
You wouldnāt be able to handle it. Becauseā¦of where you are now.
Trading is a process of development and behaviour modification and not how many zeroās your account balance aka capital basis are showing. People get hung up on those zeroās.
I cannot imagine that I would do any one single trade using 500 lotsā¦ unless of course I were trading that $100 million account you were talking about. :rolleyes:
You have just confirmed my above statement.
yes that is the thread. It is rather hard to read as the jpgs donāt post the sme here as they do on the other website that I was originally witing that for, But fear not a pdf is in the works. Ken
[QUOTE=cas;146636]Noā¦I donāt think so.
Trading is a process of development and behaviour modification and not how many zeroās your account balance aka capital basis are showing. People get hung up on those zeroās.
[QUOTE]
Agree completely Cas, which is why if I ever manage to build an account to that amount, presumably I would have successfully gone through the development process you speak of. Therefore I disagree that I would not be able to handle a 1% loss of 100K. Iām a little way from that point yetā¦
Yes it is the holding on to it that is the main issure for most. That is why in the first line I mentioned emotions. So many fail to see this coming until it is to late and it can rear its ugly head in so many ways.
But I still say yes it is possible and as the many people who I know that make real money and live off trading almost all say. Once you REALLY get it , It is almost boring it is so simple. You just look ,you see, you act. rinse and repeat.
The key is as we see time and again we must be flexiable, the market changes but it does not yield so we must be willing too ,or get run over in itās path.
Keep learning Price Action both to enter and to exit. Donāt be a set it forget trader unless that is all you can allow. But even then be willing to adjust your rules to accomedate the price action . eiā¦ take less profit sooner or tighten stops. I hate to see people with great entries give back lots of $$$ because they canāt adjust their rules.
There is only one rule that is a fact the price will move from the left of your screen to the right. That is all, You have to learn to trade anything else that may happen.
Trading $1 a pip per $1000 equity a 200 pip gain is 20% so if you take 200 pips a day 100% a week is possible. Monthlly very possible only 50 a day. I would almost say except begginners that if you canāt scrap 50 pips a day out of this market something is wrong. To hear I want 5 or 10 . I canāt see how you can stay ahead . Your stops would need to be less than your spreadā¦ LOL
A more realstic goal would be 40 pips or even 50 . That would allow for a nice 20 pip stop which is fine for a good entry and is within Money Management rules for that 2% of account. Also the 2:1 R/R some see as the wining raio would apply also.
So yes Virginia there is a Santa Claus But you must believeā¦ Be good little boys and girls and do your part which is to learn.
Hope you all are having a great weekend and Trade Happy Ken
Agree completely Cas, which is why if I ever manage to build an account to that amount, presumably I would have successfully gone through the development process you speak of.
That development process never stops.
You belong to that group of people who are hung up on those zeroās.
There is nothing more for me to add here because you need to get that hung up of yourās worked out first. By yourselve and for yourselve.
Iām a little way from that point yetā¦
ā¦you are a [B]long[/B] way from that point.