Hi everyone, i am new to this forum, and relatively new to forex, while chatting with an investor friend in London i may have added some inches to the profitability of forex as a regular money making tool.
the short story is that i got myself placed into a $50 bet, that bet is to turn $25us into $1.6 million inside of 30 days!!!
well after removing my foot from my mouth i started to think about it and come up with a couple of additional challenge points to buy myself some time with my friend.
to complete the challenge in as few trades as possible,
to have as many restarts as required, (so after wiping out can depo another $25 and start again) until the end of the year.
due to restrictions from broker (leverage) and terminal (max lot size) a pat on the back should be given if the target of 500k is reached inside 15(trading)days.
the question (finally) is can anyone help me out!
specifically with the limitations. i am using mt4 and my broker will reduce my leverage from 1:500 to 1:200 @ 25k, and to :10 @ 100k…
i am sure there are some math wizards’ out there that could figure a chart or some such.
the basic idea is to double the lot size every day (except the first 2) and take max ‘safe’ pips target 50 - 100 daily…
have you ever tried it? have you even given any serious thought to how it could be done? I know it goes against everything that is taught, but so what?
If you cant rap your mind around the theoretical possibility of actually doing it then lets call this a hypothetical discussion. Do try to remember that everything has a first time.
Frankly i have enough people who are telling me it cant be done, i didn’t post this here to hear more of the same. So please dont bother to post negative comments if you think that this is a waste of time, just move on.
I posted this question to see if there was anyone here who could think outside the box/circle.
This is an idea, a spark, something to play with, and even if i burn 100 accounts over the next year i will continue to persevere until… er… well until i either hit the target or go mad trying.
Feel free to send us the address of the asylum so we can correspond.
I don’t think what you’'re hearing can be considered negative. It’s realism. According to the laws of quantum electrodynamics, every electron in the universe is required to be at every point in the universe simultaneously. (How’s that for “thinking outside the box?”) Given this, it is “possible” for you to get up and walk through the wall to leave your room, rather than the door. Just because something is theoretically possible doesn’t mean it will happen. You cannot turn $25 into 1 million in a month. Period.
Although the topic sounds mentally inept, lets look at this from a psychological standpoint. Many of us believe it can’t be done, could that be part of why it can’t be done? Would giving yourself the illusion that something ridiculous like this is possible amplify or flatten your trading abilities? I’m approaching this from the point of view of believing something like this is possible, so that our subconscious can figure out a way to do it rather than making mental excuses for why it cant be done. For the record, I think it would require incredible amounts of leverage, and trading results are random sometimes so we don’t want to destroy all our capital in one trade.
I hope those aren’t the only two options. If so, you will most likely go mad.
Not even George Soros could do this. I’d be willing to bet that most people on Babypips, in the beginning of their trading, have made a compounding chart showing what their equity could turn into with a fairly modest percentage gain per day. I think my first compounded chart showed me that in six months my $1000 would be 2.5 million or something like that. Slowly (or quickly, if you’re leveraged to the max), you learn that trading is not fantasy-land. You have to learn and grow with it. And the same emotions that have you dreaming about turning 25 bucks into millions, will have you making emotional decisions in trading that will ultimately hold you back. If you’re consistent though, and learn from your mistakes, and learn all there is to know, you may be able to turn this into something inside of a year or two.
I don’t want to tell someone they can’t do something though. There is probably someone in the world who, with insane skill and the best luck ever, could accomplish this feat. Probably only about one though, one out of 7 billion or so.
dont mean to be rude but there is absolutely no chance of it happening. In my time I’ve seen lots of things on paper pages after pages of mathematics, statistics, compounding. You name it and I’ve seen it on paper. If I only aim for 10 pips a day only!, or if I compuound at 1% a day after all how hard can that be? etc etc
None and I mean none of them have ever worked out. sure some people are profitable but never in line with even their modest 1% expectations.
You don’t even have modest expectations you have super duper unprecedented expectations.
anyway unfortunately as you view this as negativity when actually its realism the best chance you have is on a demo. If you still want to try, attempt it on a demo.
You won’t find a broker with nearly enough leverage.
Even [I]if[/I] you could, no one can time the market even close to perfectly enough to produce those gains. Look at the percentage you’d need to make each and every day without a loss.
If the possibility of accomplishing something borders on infinitesimal, in terms of human comprehension, it is impossible. I can say with confidence, even though it happens very often, that you will never win the lottery. The odds required to win the lottery are much better than the odds of accomplishing your plan.
Greed and illogical expectations would take over long before you got even half way to your end, causing even greater difficulty in reaching it.
I said so. And so do all the other rational people with any real experience trading.
This is my first post here and I find this thread is a good place for me to to start with baby pips. I have been lurking around awhile. I have a micro account I am learning to trade with. I did demo for a few months but for me real money(in a small amount) was needed to get over the psychology factor. I have blown it up twice, education isn’t always free.
First let me say I am quite sure you will lose your bet. However I have given this some thought.
You will need:
1 allot of leverage
2 a system that is right like 98% of the time
3 a broker that will let you trade #2
4 nerves of steel
5 allot of capital to invest in developing #2
The biggest problem is probably #2 I would count a break even trade as right and set the t/p at about 1 pip over spread, compound every trade and some way to manage the drawdown from the bad trades(get out fast). You will probably need to watch multiple pairs to get enough trade signals.
I do hope you let us know how you do and what you learn. I think I know how you will do, but I am interested in what you learn.
Good luck on that bet;)
i think everyone starting out thinks its possible. I have however turned 50K into 350K in just under 30 days. This has happened only once and i have not been able to even come close since. What you make really depends on many things. 1. The pair that you trade 2. Volatility of the market 3. Your exp 4. your ablility to be very consistent 5. make almost perfect trades every time fully taking advatage of your margin levels.
The point here is no, i don’t think it can be done. I have been wrong before, but not in a month. If you were to say 12 months or 18 months, i would say maybe for a really seasoned trader you could push the pencil at just under 1 mil, but that is a stretch.
actually you can turn 25$ in to a million. its very simple you buy ten bullets and go to five or so banks and simply rob the daily withdraw vault ( that the important part) there you go but good luck with that one. but as for trading there simply is not enough time. KEEP IT PIMPIN, PIMPIN
Hi Learning slowly,
I am very happy to see your 1 month ambitious trading goal, I also have same thought as yours but still finding ways to reach it.
I believe nothing is impossible, all depends on yourself (how you think and act…off course always be positive)
Well, let me share a real story to you which I found from fxclub.
This is a Chinese guy who turned his $300 fund to $247,210 in 1 month (last year October)… that was 61,595% return on his investment!!
The story open my mind to different level, as an ordinary man like us, we could also turning small fund to lucrative profits…Of course, [B]Proper Trading plan, Money management and trading discipline[/B] playing a main role here…
So, let’s brainstorm and linking all possible ways to reach our extraordinary goal here…
(Sometimes, We need to be brave by not to believe what we see/hear, think out of the box, let our inner force bring us to desired level)
Some will agree, some will not, So what, Just do it!
hey, learning slowly… how is it going? by my calculations, its now been over a month since you posted your ambitious goal … im wondering if things have worked out for you
and here’s an even MORE ambitious idea … why not start with $0??? which you could do using a fxcm micro starter, 'cause they’ll toss in your first $25 just to get you started … imagine that … turning nothing into a million clams :o
the laws of geometric progression state that it can be done … you can take one cent and double it every day for 30 days and end up with over a million bucks …but those are guaranteed results