"The Plan": Turning 500$ into... A TRILLION DOLLARS!

Trading Discussion
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Hello everyone!

I’m kinda new around here, but I’ve demo-traded for some (short) time and went live not too long ago. In the following posts, I’ll tell you my story, my plan and my objectives. I expect this thread to be a journal of my “Plan”, where you can comment, cheer or rage. I’ll try to make it an easy, maybe even fun, read for all!

[B]“The Story” behind “The Plan”[/B]

As an actuary, I didn’t have much to learn in terms of fundamental/technical analysis, when I got into forex, so I could easily handle simple trading systems right at the beginning of my demo account. It led me to some good easy trades. Thinking about it now, there were a lot of bad trades that turned lucky, but hey, what did I know, right?

Filled with the arrogance of my early (demo) success, I decided that I should go live soon since forex is sooo easy.

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“The Plan”

Therefore, being the actuary that I am, it only took me a few minutes to realize the possibilities of continuous growth. Some of you may already know what’s coming, for others, just look at those numbers:

50 pips per day
50:1 leverage
lots of 10% (500$ account = 25 000$ with leverage = lots of 2500 units), rounded to the nearest 500 units

This means that I get 0.05$ per pip per 500 units.

1st day @ 50 pips, 2500 units: 12.50$ per day
5th day @ 50 pips, 3000 units: 15$ per day
12th day @ 50 pips, 3500 units: 17.50$ per day
18th day @ 50 pips, 4000 units: 20$ per day
23rd day @ 50 pips, 4500 units: 22.50$ per day
27th day @ 50 pips, 5000 units: 25$ per day

See how faster it increases?

56th day @ 50 pips, 10000 units: 50$ per day
58th day @ 50 pips, 10500 units: 52.50$ per day

This is getting crazy…

73rd day @ 50 pips, 15000 units: 75$ per day

And that is if I average 50 pips a day… But remember? I’m arrogant with all that demo success, so I KNOW that I can go faster. To give you an idea, at 75 pips a day, I trade 10000 units for 75$ per day on the 39th day (instead of 56th).On a 100-day range, I transform 500$ into 19 750$ at 75 pips per day. Just for fun, I looked at the results with 100 pips per day: 65 975$ in 100 days.

Yeah, that’s more like me!

So I go live with the following setup:

  • Trades taken anywhere from sunday evening to thursday night, closed by friday at noon (EST)
  • I’m not leaving my job so I don’t need more than 1-3 hours per trading day
  • Rather tight stop loss (can’t do it all wrong!)
  • 2 simple trend-friendly systems: one with MA + PSAR + MACD and another consisting of simple breakouts

[B]** I don’t want to go into details about the systems I use, they are rather simple and are already explained in quite a few threads in these forums **[/B]

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1st week: The awakening

may 25th: 0 pip, 512.63$ (starting money)
may 26th: -31.6 pips, 505.88$
may 27th: -13.4 pips, 502.35$
may 28th: -33.7 pips, 498.08$

Total for the week: -78.7 pips, -14.55$
Total for “The Plan”: -78.7 pips, -14.55$

Those are close to disastrous when you compare them to “The Plan”. But instead of going into some martingale-frenzy to stick with “The Plan”, I analyzed my losses (you have to give me credit here!). Looking back on those trades, I then knew what went wrong and thought “No biggie, I’ll just avoid those next time they come along”. Am I not adorable?!?

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2nd week: The illumination

may 31st: -169.5 pips, 461.57$
june 1st: 172.5 pips, 534.37$ (actually went with a 5000 unit trades that yielded 120 pips)
june 2nd: 154.3 pips, 571.59$
june 3rd: 72 pips, 592.56$

Total for the week: 229.3 pips, 94.48$
Total for “The Plan”: 150.6 pips, 79.93$

Awful way to start the week. At this point, I started to feel that some trades would end up being losers so I ended them earlier and I started to develop some kind of instinct.

The next days, I felt like Neo in the Matrix. All the information in front of my eyes is broken into pieces in my head. What time is it? That market is open, this one just closed. For that pair, the daily and hourly trends are strong in that direction, even if that 5M charts tells me the opposite. I can see the S/R levels… You know that feeling. You’re in [B]“The Zone”[/B], trading like it’s all you know.

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Week 3 results should be up this friday!

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There is actually a book called “trading in the zone.” A very good one. You should take a look at it :smiley:

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Please keep posting!!
I am cheering for you!!
Lotta good it will do:D. I do like some one with ambition.


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you should track your performance in % increase/decrease rather than pips. it’s consistent across markets and between traders.

so far you’ve got:
may 26: -1.32%
may 27: -0.70%
may 28: -0.85%

may 31: -7.33%
jun 01: +15.77%
jun 02: +6.97%
jun 03: +3.69%

very nice comeback into june btw!

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Lol im pretty sure this is gonna end with ‘i’ve blown my account’

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Thanks for being with me, it’ll help keep me focused on “The Plan”!!

Beside my blatant inexperience, do you see any flaw in “The Plan”? Am I missing something?

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I’d rather bet on that than on a regular xx pips a day/week. Markets are more brick headed than every guy out there. That’s because it’s all brick headed guys together, ha ha. They do what they want, when they want. And they don’t go after “xx pips a day/week”. They rather go after “No trade is no risk and if a trade it must be a very good chance to risk some bucks”.

Btw: I like that girl there shr1k, what is her name? :smiley:

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Thanks!

I’m keeping track of my trades and I have a ton of statistics, including the account variation (%). I just didn’t know if it would be interesting or just clogging the posts. I’ll add them!

After week 4, I’ll have a bunch of stats to show you: trades per pair, trades per direction, win/lose rate.

Finally, I want to add that I don’t target 50 pips a day, no more no less. I spend some time everyday on that baby, 1 to 3 hours, and I’ll take as much as the market offers. Would it be 17 pips or 221. What I want, is to average 50 pips per day. Maybe I should add that PPD stat…

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15.77% in one day? Just wow!!! :eek:

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For those who predict that I’ll blow my account, I’ll remind you that this is not the money for my rent/groceries so I don’t have the pressure to “make things happen”.

And if my account is to be wiped, imagine all the drama in this forum as you see me slowly and miserably failing!

It would at least be a hell of a show!

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Haha, thanks!

With my mentality of taking as much as the market offers every time I’m on, that day was a blessing. There were some very nice setups for 50 pips + trades (intraday).

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I’m not gonna go to predict anything than my own death in the future. I’m just betting. See the difference? :wink:

Keep the show going and if my bet is wrong the better! It’s just, “the club” out there is [B]huge[/B] …

To make consistent profit over months/years has nothing to do with a couple of lucky trades here and there and a plan to make xx pips to become a mill oh sorry, trillionaire. Did you calculate how many loss you will have? Your drawdowns? They subtract from your winners. Do you have a statistic over several years with your ts?

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This is slowly morphing into a hobby with you folks. It may end up being an expensive hobby or a profitable hobby!

But as I said earlier, I’m not forcing any trade to make a minimum of xx pips per day. I want to average xx pips per day and it is clearly too early to see if I’m doing good. To achieve this, I take any good setups that I see to make up for slower days where I barely make 20 pips or go under 0.

Keep the discussion going!

I may add a poll to this…

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Plenty of statistics will be out after week 4!

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Just ready through this thread. Ive enjoyed reading every post and hope there is more to come! Keep posting stats!

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Thanks!

I find this thread very useful. It helps me stay calm and focused.

Week 3 incoming tomorrow!