Seven figures account,anyone?

[ddinnov]

I make more pips from fewer trades on the daily charts than I did daytrading shorter timeframes.

I mainly swing trade because I don’t have the time to day trade but if I did I’d stick with swing trading. Less time trading, fewer trades, more pips($) per hour

Anyway I know it’s a trader personality thing that’s different for everyone.

[Merchantprince]

I make more pips from fewer trades on the daily charts than I did daytrading shorter timeframes.

I mainly swing trade because I don’t have the time to day trade but if I did I’d stick with swing trading. Less time trading, fewer trades, more pips($) per hour

Anyway I know it’s a trader personality thing that’s different for everyone.

Can you share the details of your swing trading strategy, please?

[ddinnov]

Can you share the details of your swing trading strategy, please?

I’m trading daily charts using an WMA (1,4) applied to a MACD chart (4,9,5) as per this thread here.

I’ve added this trendline/channel indicator (MT4) and only take trades where the crossover is in the same direction as the trend - ie buy the dips if it’s up and sell the rallys if it’s down. If it’s sideways go up or down

I also use stochastics and ADX to determine the strength of the trends and extra validation (ie don’t go long if it’s overbought)

Stop loss - recent swing high/low
T/P - stop loss x 2 (will introduce more profit targets when my account and MM (2%) supports putting on more than 1 position per trade)

It’s starting to work out quite nicely. If I had more time I’d use the 1H charts to optimise the entry for more pips.

[fxvoilaaa]

Maaan, do I wish I had a 7 figure account!

[Merchantprince]

I have a 5-figure account… if you count the pennies.

[Headmaster111]

I make more pips from fewer trades on the daily charts than I did daytrading shorter timeframes.

I mainly swing trade because I don’t have the time to day trade but if I did I’d stick with swing trading. Less time trading, fewer trades, more pips($) per hour

Anyway I know it’s a trader personality thing that’s different for everyone.

Good system.I am interested in your swing trade strategy as well.

[Headmaster111]

@fxvoilaaa

Maaan, do I wish I had a 7 figure account!

I guess if you know the better system,having 7 figure account is pretty easy.Learn from those who have made it and other who have not.It will surprise you how much that will impact your system.

[Headmaster111]

@tymen1

That is very commendable!!

However, I trust you will not spit the dummy when you eventually do make a loss, because it happens to everybody.

Thank you Mr Tymen.I try to copy people like you.I have read about your materials as well.Trust me,i wont whine if i lose but i try to control my emotion not to be greedy at all time.That in itself has kept me away from losing.It looks simple but it works like magic for me.And my account has increased beyond what most people in this forum will imagine within a short period of time.So, i can say i got a takeaway from that.

Looking forward to learn and read more from you.
Peace be with you.
Headmaster.

[Headmaster111]

That is not necessarily true - we have had/having quite a few members who are only too keen to be here to help.
I am one of them.
[B]Robert Carter (Honorary FX Member[/B]), is one who comes immediately to mind.

That is, of course, a very nice way of wishing a person farewell.

But the truth is that most newbies have a life of approx 6 months on this forum.
They are generally not the 7 figure people.

I have seen many disappear from this forum - a full turnover occurs approx every 6 months.
People disappear for all sorts of reasons, I believe the most frequent reason is that (sadly) of them being a failed trader.

Some members reappear again after a period of time.
The toughest members tend to stay here.

Yes.You are correct.R.Carter is a millionaire.

[Headmaster111]

Well it says I’ve been here 3 years, and I don’t imagine I’ll ever stop popping in at least once in awhile. I see a lot of lazy people here asking lazy questions, and if I tried to help all of them I’d probably get frustrated and leave. But there’s usually a couple of new traders that seem to “get it” and it feels wrong to leave a good question unanswered.

Good point.I agree.The problem is that most lazy people dont want to admit it that they are lazy.They tend to rationalise it that you simply dont want to help them.Blaming someone else for their problem.Just do the best you can and leave the rest.

[akeakamai]

Good point.I agree.The problem is that most lazy people dont want to admit it that they are lazy.They tend to rationalise it that you simply dont want to help them.Blaming someone else for their problem.Just do the best you can and leave the rest.

Well it’s kind of like practice to me, I hope to run a trading floor one day

I wanna be able to tell who can cut it and who can’t. I’d say 2/3 of the people that come to this forum really believe they can make good returns with less than 6months casual experience. It’s simply not possible and they aren’t willing to accept it isn’t. Those people are pretty easy to spot.

Then there’s the academics who come on and think they can figure out that magical holy grail simply because they are experts in some scienc-y field. Those people have the dedication but false notions of what trading is like. They search for certainty where there is none. I bet they could be good traders if they could just get over themselves, haha.

I think the new traders who have the best chance are the ones that have an open mind and are willing to commit YEARS to learning how to trade. I think they have to have the fortitude to blow out an account or two, if that’s what it takes to believe in a solid money management strategy. I mean we all try to avoid blowing out the account, but with new emotions (financial fear and greed) it can be hard to think right in the beginning, and I wouldn’t blame anyone for that. But do they stick it out til the end, that’s what makes the trader.

just my opinions of course

[ddinnov]

Good system.I am interested in your swing trade strategy as well.

I’ll update my meetpips profile (same username as here) with the exact details this weekend.

[Headmaster111]

Well it’s kind of like practice to me, I hope to run a trading floor one day

I wanna be able to tell who can cut it and who can’t. I’d say 2/3 of the people that come to this forum really believe they can make good returns with less than 6months casual experience. It’s simply not possible and they aren’t willing to accept it isn’t. Those people are pretty easy to spot.

Then there’s the academics who come on and think they can figure out that magical holy grail simply because they are experts in some scienc-y field. Those people have the dedication but false notions of what trading is like. They search for certainty where there is none. I bet they could be good traders if they could just get over themselves, haha.

I think the new traders who have the best chance are the ones that have an open mind and are willing to commit YEARS to learning how to trade. I think they have to have the fortitude to blow out an account or two, if that’s what it takes to believe in a solid money management strategy. I mean we all try to avoid blowing out the account, but with new emotions (financial fear and greed) it can be hard to think right in the beginning, and I wouldn’t blame anyone for that. But do they stick it out til the end, that’s what makes the trader.

just my opinions of course

Well said.I guess you are a mind-reader.I see people here too who want to make fortune within month of starting live trading.Well,it doesnt work that way.Success takes time and it takes time too to prepare for success.Most dont want to preparebut just want to reap where they sow little or nothing.

That is why i am interested in learning about anybody who makes seven figure account in this forum.I want to know how they did it and what leasson we can learn from their mistakes and others.
Greetings.

[Headmaster111]

@ddinnov

I’ll update my meetpips profile (same username as here) with the exact details this weekend.

Thanx.No problem.Let me know when it is ready.

[Baby_Pipper]

Hi all,
I was talking to a friend today about forex and he seemed not to believe that people(retail traders) do grow their accounts up to millions in account.He still believes the BIG PLAYERS wont permit you, with their manipulation, to grow your account into seven figures.
Do you know of anyone who grows his or her account to millions? What is the main secret? what are the obstacles?

Thanx you,
Headmaster.

There is no secret and you are the obstacle.