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

added 0.10% risk at 1.3270

30 pip stop

60 pip target

2nd order for 0.10% risk long moved down to 1.3255

P.S. filled at 1.3255

shor aud/usd @ 0.9690

target 0.9660
stop 0.9735

riksing 0.25%

Whoopsā€¦target is 0.9650ā€¦not 0.9660

Alsoā€¦reduced 0.25% of position at 15 pip loss.

long 0.10% at 1.3266

stop 16

target 30

EDIT: stop moted down to 1.3248ā€¦ risking 18 pips.

target 30

Hi Jay, fascinating thread, am enjoying following it. I am in a similar Short on AUD/USD (although hoping that I am not going to be jealous of your Stop, shortly lol) - Iā€™m finding that we often broadly agree. Which brings me onto a question, if I may, and not seeking to put you on the spot - I was short EUR/USD from 1.3309, opened it at 0815 (UK), you went long from 1.3300. I completely see your subsequent long trade from 1.3260 - I didnā€™t take it, have other things on, but I would have sometimes - but would you mind explaining your rationale for the long trade from 1.3300?

Iā€™m only asking as it is rare that you and I are trading the same Pair in opposite directions at the same time, so would be interested to understand why we did not on that occasion. Were you simply picking a bottom (which obviously sometimes takes a few attempts)? I entered a Short as we were in a downtrend, rejection of the 50ema on the five minute chart, S&R in playā€¦ all the usual stuff, so interested to compare notes.

Great work on the progress, by the way - you might be disappointed with November overall, but it is still not yet a ā€˜normalā€™ market and for the amount you are risking you have made a great return, imho. Someone doing this every month would have riches in their future, after allā€¦

ST

Hi Jay,

RSVPā€™ing to the webinars. I am game for whatever time the crowd opts for, or whatever is best for you. You seem like you are putting quite a bit on your plate! Hopefully you have as good a strategy for R&R as you seem to have for trading. :slight_smile:

Please post time and location once youā€™ve got it all worked out.

Thanks!

sean

@magpiepip

Just wanted to chime in with my (very limited) experience in your search for a broker.

I just recently signed up with a broker in Finland for a live account, FinFX. The sign up process was quite easy, approval was very fast, and funding (via debit card) was near instant.

With the account size you are looking to open, you want to find someone who does micro. They have micro, mini, and standard, and I think when you open a micro and mini account you only pay the spread.

Other than a couple disconnects from the platform, Iā€™ve not seen any issue with the service, and they are lighting fast at responding to customer service chats on the their website. I have not made a withdrawal yet, so I canā€™t speak to quality of that service.

You definitely will want to do your due diligence, but I found that site in a thread on here (regarding going offshore for those of us in the States) recommended by some seemingly reputable traders. Please note! Finland does not have a forex regulatory system! Not sure if that makes you nervous, but again, due diligence is required. Research your spreads (they will impact your profit!), your account funding fees, withdrawal fees, etc.

Iā€™ve also repeatedly heard Oanda bandied about as a quality broker, and Iā€™ve also opened up an account stateside with MB Trading (so far no issues with them, but Iā€™ve only done demo on them so far, havenā€™t funded the live account yet).

Good luck!

increase aud/ushd short by 0.10% risk at 1.9685. 30 pip stop, 33 pip target

short 0.10% more on aud/usd, 0.9685, 35 stop, 32 target.

closed aud/usd out at 0.9681 on news that large soverigen interest were aquiring at this price level.

Will update thread over the weekendā€¦among many other things that I need to tighten up here.

Jay

Last trade, long eur/usd at 1.3232.

stop 35 pipsā€¦target 60

risking 0.35%

What kind of timeframe were you thinking youā€™d expect for that last trade? Iā€™m curious because I shorted at 1.3227, and Iā€™m looking to catch 30 pips within 30 mins.

My reasoning is very simplistic (Iā€™m very new to this). The EUR/USD has been on a pretty aggressive path down for the past few hours (and really much longer) and Iā€™ve been catching shorts on the way down, and mostly avoiding longs.

Do you think that it has hit resistance and will bounce, even if the overall trend seems to be downward? Or are you thinking it may have even bottomed out?

Just curious how they will compare, since we got in at basically the same time, but in opposite directions.

sean

Sorry guysā€¦have to include this tradeā€¦been waiting for it for over a month now! just triggered

usd/cad short 1.0513, stop 1.0560, target 1.0435

risking 0.40%

Jay

P.S. I will respond to all posts here by friday. thanks guys!

closed half of eur/usd long at 1.3263

closed another quarter at 1.3261

stops moved to BE

final target 1.3292

Took half off usd/cad short trade at 1.0459
54 pips profit

stop moved to 1.0475 on usd/cad short

1/4 position closed at 1.0447 on usd/cad short

trade closed. 1.0440

EDIT: closed at 1.0441

final eur/usd positon long closed at 1.3273