My first Million in Forex

[obaasima]

MMX,

Thank G_D. I liked that response MMX. You sound like you just might achieve your goal. Good show old boy go for it. I hate seeing nebies throw their money down the drain. You can see this happening everyday on all the forex forum sites. They confuse investing and gambling and end up doing the latter. I’m pulling for you to go all the way, but why set your sites so low. Pyramiding will get you there quickly.

My post was for the genuine newbies reading this thread and a reminder for them that this is no game and that the uninformed and undereducated should not attempt this aggressive stategy.

Trade well and get that million,

Johnny

Hi Johnny, what in the world is pyramiding, and how is it done?

[o990l6mh]

Hi Johnny, what in the world is pyramiding, and how is it done?

I believe pyramiding means to continually add to a winning position and vice versa. Scale in - scale out. Like the movie Karate kid

[Bichiz]

Thank you for all the advice they are really good suggestions, and it brings another perspective to trading in Forex.

[JohnnyBSmart]

obaasima,

Read article below.

Johnny

Trading Strategy - Pyramid Your Profits!
By Jordan Weir

Are you one to throw caution to the wind, or do you cut your losses short, and let your profits ride? It may surprise you to realize that while many traders think they cut their losses short, and let their profits ride, there is a simple technique that will allow them greatly amplify those profits, while keeping their losses manageable. This technique is known as “pyramiding your profits”.
The art of pyramiding your profits begins with good risk management. You should risk no more then 5% of your portfolio on any given trade, and many experienced traders use numbers as low as 2-3%. This doesn’t mean someone with a $50000 portfolio can only invest in $2500 worth of a companies stock, it means that when they are setting their stop loss, they must be cognizant of how much they can lose on the trade.
So if a company is trading at $20 per share, and our stop loss is at $17.50, we can lose $2.50 per share by buying. If we’re willing to lose no more then $2500, then $2500/$2.50 = 1000 shares. So we should purchase 1000 shares for this trade.
With your standard trade, that would be it. An order to sell at a certain price, and order to buy at a certain price, and a stop loss. When your pyramiding your profits though, there’s an integral extra step. When the stock has gone up in price, and you have some profits, you add MORE to the position. Lets say it goes up to $22.50, and you decide to move your stop loss up to $21.00. You now have 1000 in gains if you get stopped out. To pyramid your profits, you add that 1000 in gains to your risk amount for the trade, for a total of $3500. Since its now at 22.50, and we can risk up to $3500, then we should purchase another 2300 shares. (3500/1.5 = 2334).
If it gets stopped out at 21, then you made gains of $1000 on the shares bought at 20, but you lost $3450 on the shares bought at 22.50, for a total loss of 2450, which is approximately how much you were risking on this trade. If it then continues to go up to $25/share, then you made $5000 on the shares bought at 20, and another $5750 on the shares you bought at 22.50, giving you a total gain of $10750, while only putting 2500 at risk. By adding shares, or “pyramiding your profits”, you substantially increased the potential reward of the trade, while maintaining a safe level of risk, and by cutting your losses short, and letting your profits run, your ability to profitably trade the markets will be greatly enhanced.
Make no mistake; this strategy is applicable to long term investors as well. Assuming you’re invested in an up trending stock, then adding shares to your investment whenever it breaks above the last high will greatly assist in maximizing the profits from the big overall trends that appear in the markets. If you’re investing for longer time periods, its advisable to leave some profit in the case of it hitting the stop loss.
The interesting thing about this strategy is while it’s almost the opposite of some conventional wisdom - you never go broke taking a profit - it does strongly adhere to the idea of cutting losses short and letting profits run. The key is to do more of what’s working, and less of what isn’t, and that’s exactly what this kind of trade accomplishes.
The most successful traders in the market aren’t the ones who are right on 80% of their trades. Many of the most successful aren’t right on 50% of their trades. A few of them aren’t even breaking 30 or 40%. What separates the best from the rest isn’t how often their right, but how much they make when they’re right compared to how much they lose when they’re wrong. By pyramiding your profits, you’ll make massive gains, and small losses, which is a key to becoming a successful trader.

Article Source: [url=http://EzineArticles.com

[bauvil2003]

@phil838

I have to agree with everyone else here. I don’t see how you can turn 100k into 1 million in less than a year unless you are overleveraging yourself and making risky trades.

200k, and even 300k may be possible, but 1 million is out of the question if you’re following proper money management rules.

I promise you that you’ll lose your money if you try and gain that much that fast.

I do not know why and I can’t understand why someone needs that much to be millionaire in Forex.he has really to much to be millioaire in one week.
To double your money every month in forex, you need to make 1000 pips every month with 10K position on every 1000.Which means with that 100K capital, let say it takes only one position of 1000, let also say with good signal entry you can make 50 pips every da or average 50 pips a day, which is easy and reasonable for someone who waits for a good entry signal.I used MACD, RSI and other signals sources to do to.With 50 pips a day, 250 pips a week, 1000 pips a month, that 1000 posion will double your account in a month. 1000K will give you 100$ per pip in a stnandard account and you will have 100x1000.
1 month 100000 becomes 200000
2 month 20000 becomes 400000
3 month 400000 becomes 80000
4 month 800000 becomes 1600000
I have smeone who has made 100000 in a year in forex with a starting capital of $1000.
To do it

1. Have a good signal entry and a good signal exit.
2. Make 50 pips daily average which is 1000pips a month
3. for every1000$ capital, you take 10$ position, it will take 1000 pips move against you to blow your account which is very difficult
4. Increase your position everytime your account increase for 1000 which means with 2000 capital, you take $20, with 4000 you take 40 and so on
5. Do not make any withdraw for the whole year
6. Take your calculator and do your math, see yourself millionaire in forex within 1 year is not not impossible.
   1000=2000
   2000=4000
   4000=8000
   8000=16000
   16000=32000
   32000=64000
   64000=128000
   128000=256000
   256000=512000
   512000=1024000
   1024000=2048000 in a year with $10 for every 1000$ capital and 50 pips a day.
   Rich your goal at only 50%, you make yourself millioire.I am on my way.I am not too far.It takes time and discipline.That is all.

[o990l6mh]

@bauvil2003

I do not know why and I can’t understand why someone needs that much to be millionaire in Forex.he has really to much to be millioaire in one week.
To double your money every month in forex, you need to make 1000 pips every month with 10K position on every 1000.Which means with that 100K capital, let say it takes only one position of 1000, let also say with good signal entry you can make 50 pips every da or average 50 pips a day, which is easy and reasonable for someone who waits for a good entry signal.I used MACD, RSI and other signals sources to do to.With 50 pips a day, 250 pips a week, 1000 pips a month, that 1000 posion will double your account in a month. 1000K will give you 100$ per pip in a stnandard account and you will have 100x1000.
1 month 100000 becomes 200000
2 month 20000 becomes 400000
3 month 400000 becomes 80000
4 month 800000 becomes 1600000
I have smeone who has made 100000 in a year in forex with a starting capital of $1000.
To do it

1. Have a good signal entry and a good signal exit.
2. Make 50 pips daily average which is 1000pips a month
3. for every1000$ capital, you take 10$ position, it will take 1000 pips move against you to blow your account which is very difficult
4. Increase your position everytime your account increase for 1000 which means with 2000 capital, you take $20, with 4000 you take 40 and so on
5. Do not make any withdraw for the whole year
6. Take your calculator and do your math, see yourself millionaire in forex within 1 year is not not impossible.
   1000=2000
   2000=4000
   4000=8000
   8000=16000
   16000=32000
   32000=64000
   64000=128000
   128000=256000
   256000=512000
   512000=1024000
   1024000=2048000 in a year with $10 for every 1000$ capital and 50 pips a day.
   Rich your goal at only 50%, you make yourself millioire.I am on my way.I am not too far.It takes time and discipline.That is all.

Another newbie with a pipe dream. Good luck, you’ll need it.

[hellogoodbye4201]

i dont see why it couldnt work.
assume you trade 1$ pips for every 1k in your account and you compound it so lets say since your starting with 100k in your account your trading 100$ pips, for every 1k you make you add an additional 1$ to your lot. even starting out with 100k if you make 100 pips a month thats 10k profit (100 pips x 100$ per pip) now next month, or even right after the cash in on that trade, you trade 110$ pips (110k in the account) now you make 100 more pips that month you make 11k profit and use that to add an additional 11$ to your lot.
so realy i dont see how he couldnt do that if he just, in a way, compounded his account like that. it may take longer then the time hes looking for but im sure it could be done

EDIT - i really dont see how he couldnt so if theres something idk then some1 plz say it

[o990l6mh]

i dont see why it couldnt work.
assume you trade 1$ pips for every 1k in your account and you compound it so lets say since your starting with 100k in your account your trading 100$ pips, for every 1k you make you add an additional 1$ to your lot. even starting out with 100k if you make 100 pips a month thats 10k profit (100 pips x 100$ per pip) now next month, or even right after the cash in on that trade, you trade 110$ pips (110k in the account) now you make 100 more pips that month you make 11k profit and use that to add an additional 11$ to your lot.
so realy i dont see how he couldnt do that if he just, in a way, compounded his account like that.

The theory of it is fine.

I’d like to see someone actually being able to do it though.

Theory and reality oftentimes don’t get along well. This sort of dreamy math exercises are good examples of that.

[hellogoodbye4201]

The theory of it is fine.

I’d like to see someone actually being able to do it though.

Theory and reality oftentimes don’t get along well. This sort of dreamy math exercises are good examples of that.

true, maybe ill try it sometime lol. demo of course. ill start with a 1k account and simply trade 1$ pips for every 1k in my account and well see how it goes

edit

number game time

month 1:
starting with 1k
500 pip profit
ending balance of 1.5k

month 2:
starting with 1.5k
500 pip profit
ending balance of 2k

month 3:
starting with 2k (now trading 2$ pips)
500 pip profit
ending balance of 3k

month 4:
starting with 3k (now trading 3$ pips)
500 pip profit
ending balance of 4.5k

month 5
starting with 4.5k (now trading 4$ pips)
500 pip profit
ending balance of 6.5k

month 6
starting with 6.5k (now trading 6$ pips)
500 pip profit
ending balance of 9.5k

month 7
starting with 9.5k (now trading 9$ pips)
500 pip profit
ending balance of 14k

month 8
starting with 14k (now trading 14$ pips)
500 pip profit
ending balance of 21k

month 9
starting with 21k (now trading 21$ pips)
500 pip profit
ending balance of 31.5k

month 10
starting with 31.5k (now trading 31$ pips
500 pip profit
ending balance of 47k

month 11
starting with 47k (now trading 47$ pips
500 pip profit
ending balance of 70.5k

month 12
starting with 70.5k (now trading 70$ pips)
500 pip profit
ending balance of 105.5k

[o990l6mh]

true, maybe ill try it sometime lol. demo of course. ill start with a 1k account and simply trade 1$ pips for every 1k in my account and well see how it goes

That’s the thing, in a demo you won’t get the true feelings of chilling fear and horrible greed that are what screws up our discipline and trading results.

Anyone can do it in demo (almost anyone at least), that however says not a thing about their abilities on a live account.

[hellogoodbye4201]

That’s the thing, in a demo you won’t get the true feelings of chilling fear and horrible greed that are what screws up our discipline and trading results.

Anyone can do it in demo (almost anyone at least), that however says not a thing about their abilities on a live account.

also true

idk how someone could trade 100k accounts o.O unless they have millions banked lol

[Letseethepips]

One happen to MMX he was suppose to keep them updated or was he just looking for a response;).

[o990l6mh]

One happen to MMX he was suppose to keep them updated or was he just looking for a response;).

Maybe he’s busy looking at yachts… :rolleyes:

[hellogoodbye4201]

ya updates would be nice

[ellave]

Dont feed the troll

[hellogoodbye4201]

Dont feed the troll

-feeds the troll-

[shandy]

The Quest,

I just read your previous posts. Please continue demo trading until further notice. Call your Doctor he may be able to help you. Your goal of $10,000 a month will not get you to your goal of $1,000,000 in six to 12 months. Please see question #26 on the previous post (26. Does numbers confuse you?).

Trade to survive,

Johnny

LOL, haven’t seen you around for a little while Johnny but glad to see you haven’t lost your ability to amuse:)

[ReaperKK]

obaasima,

Read article below.

Johnny

Trading Strategy - Pyramid Your Profits!
By Jordan Weir

Are you one to throw caution to the wind, or do you cut your losses short, and let your profits ride? It may surprise you to realize that while many traders think they cut their losses short, and let their profits ride, there is a simple technique that will allow them greatly amplify those profits, while keeping their losses manageable. This technique is known as “pyramiding your profits”.
The art of pyramiding your profits begins with good risk management. You should risk no more then 5% of your portfolio on any given trade, and many experienced traders use numbers as low as 2-3%. This doesn’t mean someone with a $50000 portfolio can only invest in $2500 worth of a companies stock, it means that when they are setting their stop loss, they must be cognizant of how much they can lose on the trade.
So if a company is trading at $20 per share, and our stop loss is at $17.50, we can lose $2.50 per share by buying. If we’re willing to lose no more then $2500, then $2500/$2.50 = 1000 shares. So we should purchase 1000 shares for this trade.
With your standard trade, that would be it. An order to sell at a certain price, and order to buy at a certain price, and a stop loss. When your pyramiding your profits though, there’s an integral extra step. When the stock has gone up in price, and you have some profits, you add MORE to the position. Lets say it goes up to $22.50, and you decide to move your stop loss up to $21.00. You now have 1000 in gains if you get stopped out. To pyramid your profits, you add that 1000 in gains to your risk amount for the trade, for a total of $3500. Since its now at 22.50, and we can risk up to $3500, then we should purchase another 2300 shares. (3500/1.5 = 2334).
If it gets stopped out at 21, then you made gains of $1000 on the shares bought at 20, but you lost $3450 on the shares bought at 22.50, for a total loss of 2450, which is approximately how much you were risking on this trade. If it then continues to go up to $25/share, then you made $5000 on the shares bought at 20, and another $5750 on the shares you bought at 22.50, giving you a total gain of $10750, while only putting 2500 at risk. By adding shares, or “pyramiding your profits”, you substantially increased the potential reward of the trade, while maintaining a safe level of risk, and by cutting your losses short, and letting your profits run, your ability to profitably trade the markets will be greatly enhanced.
Make no mistake; this strategy is applicable to long term investors as well. Assuming you’re invested in an up trending stock, then adding shares to your investment whenever it breaks above the last high will greatly assist in maximizing the profits from the big overall trends that appear in the markets. If you’re investing for longer time periods, its advisable to leave some profit in the case of it hitting the stop loss.
The interesting thing about this strategy is while it’s almost the opposite of some conventional wisdom - you never go broke taking a profit - it does strongly adhere to the idea of cutting losses short and letting profits run. The key is to do more of what’s working, and less of what isn’t, and that’s exactly what this kind of trade accomplishes.
The most successful traders in the market aren’t the ones who are right on 80% of their trades. Many of the most successful aren’t right on 50% of their trades. A few of them aren’t even breaking 30 or 40%. What separates the best from the rest isn’t how often their right, but how much they make when they’re right compared to how much they lose when they’re wrong. By pyramiding your profits, you’ll make massive gains, and small losses, which is a key to becoming a successful trader.

Article Source: [url=http://EzineArticles.com

Good article!

[nev]

Maybe he’s busy looking at yachts… :rolleyes:

Not sure that’s how you’d commit suicide after losing 100k

[xtraction]

Did he make the million?