In this thread i will share and discuss my upcoming projects. If you have similar projects you may post here. In this thread, everyone can share his/her strategies (for free). Here i will try to make my own project on how to multiply 5 (USD,GBP,EUR) into 1K, 2K, 3K, or more in 100 days or less by using scalping and hedging methods. Risks may follow this projects, if it is failed it will be started all over again from the beginning with the same amount of money. It will start from small amount of money (10 usd/gbp/eur) and will try to multiply it consistently in 100 days. It is started with 10, so that when you loose it all, you still have more money. This aim for this project is to make consistent profits in 100 days, and it is suitable for beginner traders. The project will be listed on myfxbook to monitor.
Project Name: Ten Bullets
Trader Type: Beginner Trader
System Type: Technical + Fundamental
Trading Type: Manual + Automated
Capital: 5 to 10 (usd/gbp/eur)
Time: 100 days
Target: 1K to 5K
Broker: 5 digits broker with low spread
Strategies: Scalping + Hedging
It will start tomorrow, and the trading styles and strategies detaild will be discussed and share on the next post.
This goal for project is that to invest more time in building your own trading strategies to obtain consistent profits, rather than investing more money and loosing more. This project is suitable for new traders who want to start their FX business, because we always read much information out there that 90% percent of traders are loosing their money in this business, so it is better for us to start with small amount of money and try to make it grow bigger and bigger day by day while discovering and building our own trading style. However risks always follow this project since we use small amount of money, but it’s worth a try. Most of experienced traders will ask us to use the demo first to train our trading ability, however the experience/mental/psychology in demo trading would be different with the real money. In this project we will also train our mentality to gain consistent profit, we will see the growth, not the amount of money. If our tradings are already consistently profitable with our own style within the target that we already set, we can then start with more money (from the profit that we gain, not re-deposit), and we will set the new target.
We will learn together here and can share your strategies or system that can help this project, you can use any broker you like or, the broker that you already use (5 digits brokers are recommended). Even though this project is for new traders and for learning and sharing, but experienced traders or professional traders can share his/her strategies/systems here so that we can learn more.
Let’s start tomorrow and find out whether we can accomplish our project or not, if anybody wants to post his/her similar project please feel free to post here.
For scalping in this project, it’s better to use buy/sell script or EA that can execute buy or sell order instantly per tick and use the smallest lot. This kind of trading is semi automatic in which you use EA and intervene the EA manually, when to stop it or start it. You can start this EA when you see there is opportunities, especially in the supports and resistance level. We provide free EA or script for this project. But this EA doesn’t guarantee the success of this project since , risks always follow on each position open.
The trading:
You can use any indicators for your trading, or you can use clean chart, and focus on the candle in the various time frames and the price action of the pair.
Activate the EA whenever you want to open positions, and stop it when it reaches the lots based on your money managements /MM. So, it is like one click execution, buy or sell, after you get the profit you targeted, you can hedge the position and you can “close multiple by” your position to clear or closed all position instantly and simultaneously. When using the EA it’s better to add iExposure custom indicator, to know your positions summary.
Pardon my ignorance as I am new, but isn’t that a low profit across 10 days? Comes out to only $49.50 earnings a day. If you made $500 from $5 each day that would be different.
One factor to take into consideration is time. How much time will you be spend trading in order to turn $5 to $500. After you’ve achieved your goal (unless you can speculate now), what is the average amount of time spent trading to make $49.50 a day? If it’s around an hour that’s great, but if it takes 8 hours, it’s sort of not that great no?
I welcome all explanations as I am new and want to learn more, specifically the mental aspect of all this. I am also looking at this from the point of view of a full-time trader.
Hi
You are right , I have experienced this situation couple of times, But about a dozen times on Demo with $100 starting ( I don’t trade with $50,000 Virtual money provided on Demos) I could make $1500 to $2500, so I think that it is possible to grow a big sum.
Thank you all for your reply, all of the projects are experiment projects, with the focus on how to make maximum profit from minimum capital. Based on the failed projects, there are some big mistakes in MM, and on the next projects, there will be some MM improvements and revisions. In term of technical, the projects use EA to execute order, however some manual intervention come in when it is necessary, so it is also about timing, if the projects failed there will be another projects, if the project succeed to the targeted time, there will be started over from the beginning, over and over. In term of time spending, on this project, actually, it is short time, and see the timing. The timing here it means that, it involves news trading too, besides all the technical. It becomes very short time when the open positions turns to profits, and there will be hedging to close all position, and then waiting for another opportunities to get into the markets. However, when the open positions turn to loss, if in 1 hour doesn’t showing any profits, there will be added for some few hours for floating with revised MM (for the latest project)
This aim of this project is not to get wow from other traders, because i believe there are many great traders out there, the aim is that how to make maximum profit from minimum capital, so i would be happy for anyone to share his or her strategies here with the same mission that is maximizing profit from small capital with relatively not too long period/time. And as i mentioned before, that this project is HIGH RISK and you can loose all your money, and it is recommended to experiment with small capital, not big one.
I guess you haven’t taken into account the amount of pips you need to have in order to make 50 from 5 a day.
with a low investment you would only be able to trade micro lots. I mean if you don’t want to risk it all but i think you wont be allowed and it wont be wise either to trade over .10 per pip. So if you do the math that comes to about 5000 pips a day, now that is a huge profit, and i highly doubt it could be doable on a daily basis, I mean if you manage to even come close to that a day that’s, wow.