Inner Circle Trader's 5k To 1mil - Live Trading Tracking Thread

[IyaJenkei]

What time frame do you want to give him? Initially it was said in a year.

By what means are we determining the time frame of completion?

I’m not saying turning 5000 into a million is impossible. If you compound it at a .000000001% rate of return it will eventually happen.

The glamour behind this thread is on the short time span. It’s the idea of getting rich quick. Fine, I accept that.

Now mathematically, how do we get there? Wouldn’t you want to know so you can duplicate the effort?

If one man can, can’t another?

So how does the one man propose to do it. That’s where my continued curiosity in this thread lies.

Waiting for results simply isn’t enough for me, and it really shouldn’t be for you.

It’s taken him 17 years to be able to turn 5k into 1m(if he does it) that’s not getting rich quick.

[mastergunner99]

It’s taken him 17 years to be able to turn 5k into 1m(if he does it) that’s not getting rich quick.

I don’t even know how I can address this. I was told that when you engage in a logical conversation with someone illogical, they will drag you down to their level and beat you with experience. I kindly ask that you ignore me.

Thank you.

[Hogarste]

I’d rather not have this thread go in this direction. I’ll say this. Babypips has a great school of education. Second to none when it comes to teaching someone new. The FX-Men as a whole, however, are terrible traders.

Teaching is one thing. Playing is something else entirely.

Now can we return to the topic?

Yes…

[dantheman53]

He actually said that?

90% win rate.

635%

I cannot believe he said that. And I cannot believe you believe that.

Where does it say that I believe that?

[Bones123]

Mg99 I know you think it’s so impossible/not likely/etc etc for this to happen (5k - 1 mil in THREE years) So is it also impossible for someone to bring 10k up to 2 million in LESS THAN one year? Real time, real money, really documented ?

Oh wait its already been done…

Obviously i’m talking about larry williams who ended that same year with 1.1 million, but the fact still stands he “did the impossible”

What time frame do you want to give him? Initially it was said in a year.

By what means are we determining the time frame of completion?

I’m not saying turning 5000 into a million is impossible. If you compound it at a .000000001% rate of return it will eventually happen.

The glamour behind this thread is on the short time span. It’s the idea of getting rich quick. Fine, I accept that.

Now mathematically, how do we get there? Wouldn’t you want to know so you can duplicate the effort?

[U][B]If one man can, can’t another? [/B][/U]

So how does the one man propose to do it. That’s where my continued curiosity in this thread lies.

Waiting for results simply isn’t enough for me, and it really shouldn’t be for you.

[TommyL]

I don’t even know how I can address this. I was told that when you engage in a logical conversation with someone illogical, they will drag you down to their level and beat you with experience. I kindly ask that you ignore me.

Thank you.

The self importance never ceases to amaze me. Haha!

[TommyL]

Mg99 I know you think it’s so impossible/not likely/etc etc for this to happen (5k - 1 mil in THREE years) So is it also impossible for someone to bring 10k up to 2 million in LESS THAN one year? Real time, real money, really documented ?

Oh wait its already been done…

Obviously i’m talking about larry williams who ended that same year with 1.1 million, but the facts still stand he “did the impossible”

Looking intently forward to the reply to that.

[PerchTird]

I don’t even know how I can address this. I was told that when you engage in a logical conversation with someone illogical, they will drag you down to their level and beat you with experience. I kindly ask that you ignore me.

Thank you.

This is funny!

[Toekan]

Hold on, hold on…

Wasn’t this thread cleaned up to take out all topics not directly related and endless discussions???

We went up from 31 pages to 51 again in how long??? Two days?

Who will be right??? We will know in 35 months and a bit… Jot it down somewhere and dicuss it at that time. Until that date it is all theoretic.

[mastergunner99]

Mg99 I know you think it’s so impossible/not likely/etc etc for this to happen (5k - 1 mil in THREE years) So is it also impossible for someone to bring 10k up to 2 million in LESS THAN one year? Real time, real money, really documented ?

Oh wait its already been done…

Obviously i’m talking about larry williams who ended that same year with 1.1 million, but the fact still stands he “did the impossible”

Larry Williams has not been able to duplicate it, because Larry Winters was using the Kelly Criterion to ascertain risk.

Simply put he was violating conventional money management.

Next!

[TommyL]

Larry Williams has not been able to duplicate it, because Larry Winters was using the Kelly Criterion to ascertain risk.

Simply put he was violating conventional money management.

Next!

Why is earth round?

[elephant]

Why would the earth want to be a square?

Why is earth round?

[Hogarste]

Why is earth round?

I think ICT covered this in one of the PTC videos from fall 2011.

[Sweet_Pip]

I’d rather not have this thread go in this direction. Now can we return to the topic?

What was the topic again?

[mastergunner99]

What was the topic again?

I was exploring the mathematics behind the challenge. For me the odds seem nearly impossible based on the method of trading.

[Sweet_Pip]

@mastergunner99

I was exploring the mathematics behind the challenge. For me the odds seem nearly impossible based on the method of trading.

I have a spreadsheet too…lol…and if I input $2k start, at 90% win rate with a 3% risk (equates to 30 pips loss) and a 2:1 reward/risk ratio (equates to 60 pips gain), compounding the lot size by account balance/1000 (ie $1k balance = 1 mini lot…$10,000 balance = 10 minis or 1 Std etc)…1 trade a week for 150 trades, then it’s quite doable. Not so sure the logistics of trading 100 standard lots when the balance gets to a million…lol…but will worry about that if and when it happens. Here’s a sampling…maybe you can point out if I have any math errors …

[mastergunner99]

I have a spreadsheet too…lol…and if I input $2k start, at 90% win rate with a 3% risk (equates to 30 pips loss) and a 2:1 reward/risk ratio (equates to 60 pips gain), compounding the lot size by account balance/1000 (ie $1k balance = 1 mini lot…$10,000 balance = 10 minis or 1 Std etc)…1 trade a week for 150 trades, then it’s quite doable. Not so sure the logistics of trading 100 standard lots when the balance gets to a million…lol…but will worry about that if and when it happens. Here’s a sampling…maybe you can point out if I have any math errors …

<img src=“301 Moved Permanently”/>

Those are stats from his main account apparently. But I am curious to see if the math behind 3-4 trades a month can actually bring those type of results at a 90% win rate in a single year.

Mathematically its almost as if he teaches one thing, but trades an entirely different way all together.

I find it quite interesting.

[Hogarste]

I have a spreadsheet too…lol…and if I input $2k start, at 90% win rate with a 3% risk (equates to 30 pips loss) and a 2:1 reward/risk ratio (equates to 60 pips gain), compounding the lot size by account balance/1000 (ie $1k balance = 1 mini lot…$10,000 balance = 10 minis or 1 Std etc)…1 trade a week for 150 trades, then it’s quite doable. Not so sure the logistics of trading 100 standard lots when the balance gets to a million…lol…but will worry about that if and when it happens. Here’s a sampling…maybe you can point out if I have any math errors …

<img src=“301 Moved Permanently”/>

I’ve done these spreadsheets too. You have me thinking that if ICT does this, there is potential for him to have to pay a lot in taxes. Suppose in year 3 he goes from 150k to 900k. That is a 750k gain for that year, which creates a huge tax burden for him, especially if he does not donate these taxes to charity until year 4 when they can be itemized.

I’m not a tax accountant, so don’t beat me up if I’m off base, it just seems like an expensive possibility.

[Sweet_Pip]

Those are stats from his main account apparently. But I am curious to see if the math behind 3-4 trades a month can actually bring those type of results at a 90% win rate in a single year.

Mathematically its almost as if he teaches one thing, but trades an entirely different way all together.

I find it quite interesting.

Well, let’s say 3 trades a month x 12 months = 36 trades…according to the spreadsheet, by trade #36, the balance would be around the $10k mark…give or take a few thousand for acceptable deviation.

For 4 trades a month = 48 trades, by trade #48, the balance would be about $20k.

[Sweet_Pip]

I’ve done these spreadsheets too. You have me thinking that if ICT does this, there is potential for him to have to pay a lot in taxes. Suppose in year 3 he goes from 150k to 900k. That is a 750k gain for that year, which creates a huge tax burden for him, especially if he does not donate these taxes to charity until year 4 when they can be itemized.

I’m not a tax accountant, so don’t beat me up if I’m off base, it just seems like an expensive possibility.

Oh to be that rich and have that worry…lol…as long as I’m left with enough to payoff the mortgage and live rather comfortably for the rest of my life, that would be rich in itself