Yes it is, I managed to tunr 100 into 1000 in two months. Daily trading, aiming 1-2 per positions. strategy used: Correlated.
Just because it seems impossible to you, does that make it so. Don’t worry am gonna prove you wrong. I then I will send you screen shots. In two to three months time you will be updated. And also thanks for your thoughts.
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There’s a journal section to Babypips - why don’t you open a new thread and allow us to follow your progress?
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Possible and probable are two very different concepts, in life as in trading…
Winning a $5 million lottery is possible, but has a very low probability;
turning $100 into $1000000 in trading is possible, but also has a very low probability.
Yes you are right. But it all revolves around risk management, trading plan and emotional control. Even if I trade the way you propose there is every probability that I blow my account
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Here is someone you can pal up with, he’s doing well too.
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Hey man, it is definitely possible but it depends much on what leverage you use and/or what lot size your broker lets you use.
If you trade with 1:500 and 0.01 minimum lots, your account won’t handle many losses.
That’s the only problem with small accounts.
There is no difference between 30$ into 500$ and 30000$ into 500000$. If the fear of losing money doesn’t kick in of course
Petru
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Can’t I contact him on any social media?
Not to be a nay-sayer, but…
even if five, or ten people said that they could do it, the odds are stacked against you
because of the sheer number of people who dream of turning tiny amounts to big/huge money
and get burnt because they lack whatever magical ingredient (personal qualities, discipline, etc.)…
So it is possible, but highly improbable…
All the best of luck, I really hope you are one of the very few blessed ones.
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Thanks for your optimism. Are you on any social media? I’ll like to reach and talk personally.
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I am no longer on Facebook but I am still on Twitter (occasionally). I am not sure that I have anything of value to share with you that could not be shared publicly… Is is something specific? I have my own struggles with trading…
Life is self fulfilling.
If you believe you can do something, you will do it.
If you believe it is not possible, then for you it is not possible
It all depends on what you can believe.
The naysayers are actually correct. because that is their belief, and they can prove and justify their belief.
The believer also is correct… and he/she will prove their belief to be a truth.
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never mind?
It is realistic. Once you are desciplined enough to manage your lot size effectively[money management] from the start, give yourself a daily target profit and as your account doubles, you double your lot size to fit the new balance.
Eg. I moved an account from $197 to "$680 in 32days using this strategy. EG. for a $100 account, my daily target is $5. When I make more, it covers for days when I don’t. Lot 0.1 total of 3 to 5 trades per time[0.3-0.5lot size] 30 - 50pips TP or SL. And I still to major currency pairs.
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If you want to do anything in life, odds will be against you. If you want to be an entrepreneur you have to know that 95% of new companies go bankrupt in the first few years, if you want to play professional sports you will have around 98% rate of failure. Forex is no different, everyone wants to do it but just a small group of people will succeed.
Petru
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Is it me or is there a new version of this question that pops up every couple or so months lol
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But I guess if you went to a bank for a business loan to open a shop and asked for $30 with the idea that this would be your investment in the business in order to grow it, how do you think you would be seen?
What I am trying to say is that it is not enough to have a dream if you do not have good planning, which also involves sufficient capital to give a business a fair chance to survive, especially at the beginning.
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No, it is not you, it is a frequently asked question.
Something about forex attracts this kind of pipe dream…
It’s good that there’s something that lures folks in but man are people going to be disappointed once they learn how much time and effort it really takes.
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I agree. Trading with 30 dollars is a joke. But if you are a beginner this could be a start (moving from demo to real).
I think most retails don’t take trading seriously anyway, they have a job, family, kids, responsibilities. I think for most of them it is impossible to actually understand how financial markets work and how they can make money from them. Education takes time.
Petru
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