Im here to share my journey from 300 to 100k in 10 weeks.
[B]So here is my plan:[/B]
Weekly goal is 100%.
I risk 10% per trade.
Every week i adjust my trade size.
When i loose 5 trades in a row means im down 50% then i adjust my trade size aswell.
[B]Why do i share this?[/B]
Because when i share my trades and results daily i’m more disciplined to take high probability trades.
[B]My trading experience?[/B]
I have been trading for about 5 years, first 2 years i traded binary options and then i moved to forex.
[B]Why do i do this?[/B]
Because i want to prove myself and other people that this is possible and not hard.
If you double your trading fund each week, then 10 weeks will take you to 2^10 times your original fund; since that seems to be 300, you’ll actually have just over [B][U]3[/U][/B]00,000 rather than 100,000, I think? A nice, additional bonus, there?
It hasn’t apparently diminished your enthusiasm for trying to get rich quick. Good luck.
Has your 3 years in forex not shown that this sort of return just isn’t possible? Why stop at 10 weeks when you’ll only have earned a paltry $153,600? Keep going for just another 16 weeks after that and you’ll be the 3rd richest person in the world with a net worth of around $10bn. But don’t stop there! Keep going for a full year and your $300 will have turned into $675 quadrillion. You will literally own the world.
Seriously though it’d be a good idea to lower your risk and your expectations and expand out your timelines for success. If it was that easy why aren’t banks who employ highly capable professionals who are wired into the markets full time raking in that kind of cash every year?
Please do continue to publish your results! I have been around in and out for some time now and most of the time people are posting losses after losses! Would be nice to see if it is possible. You should post your trade entry and exit numbers, that would be helpful!:35:
There is a limit where you slip price against you, you just dont have liquidity, thats why banks cant do it.
Tell me one real reason why this is not possible?
Your weekly goal is 100%. This week you got 10%. What caused you to not get the other 90%? What’s happened over the past 3 years you’ve been in forex when you traded with these sort of goals?
Bottom line you’re risking way too much on each trade. Sooner or later you’re going to hit a patch where you get 5 trades wrong in a row. Your account will be down 50% at this stage. Let’s say it happens on week 1 and you go from 300 down to 150. Now just to get back to your original entry level you have to get 100% profit on your balance. What do you do at that point? You say you change your trade size - does that mean you increase the size to try and get back your losses more quickly? In the end you’ll just be putting yourself under more pressure to get a win and that’s not conducive to picking good entries. You’ve been here before where you’ve seen your account get busted in half by just a few trades right?
You seem to have a problem with discipline if I read between the lines of your first post correctly. You’re posting here to try and keep yourself honest but it won’t help when it comes to the psychological pressure you’re putting yourself under to try and achieve something in a timeframe it’s just not achievable in. I’ll say it again - large financial institutions and individual professional traders don’t turn this kind of profit and they’re guys who are totally wired into the market. It’s not to do with liquidity. You’re looking to get rich quick and it won’t work - it never works in the timeframe you’re looking at. The question isn’t why this isn’t possible. The question you should be asking yourself is why you think it is possible when nobody else seems to be able to manage it?
What’s the harm in giving yourself realistic goals to start off with? Lower your risk and see if you can get 1% or 2% per week. See if you can stay in the game for 6 months like that. With compounding and periodically adding to the balance with money from your job your account balance turns into serious money over the years. You won’t be a millionaire overnight but you could be in 10-15 years which would be ok right?
I’m with you on this one FXSilver. While I think the task is difficult, to say the least, who am I to say it is impossible. I’ll follow the thread with great interest.
Well today i had 4 trades, 3 trades i closed at BE because i have longer term view on USDJPY to the long side so i didnt wanted to take profit and 1 USDJPY trade is open, so here they are:
