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

I am sorry to confuse you.

We hear terms like, Join the Bull side or the Bear side!

What “we” hear doesn’t matter. What “we” [B]think[/B] does matter.

Ok, we know that it isn’t that simple, we should after all join the winning side.

If you start thinking further, “we” can never win. Only some of “we” can win. The others have to lose because that’s why there are winners.

But what is the point… we try to go with the market, we try to follow the trend, and the trend, is what traders are doing right?

Well, some people, most of them, are copycats. That’s why they lose. The question is not to follow a trend. The question is WHEN you will have your entry in that new trend and WHAT is really a tradeable trend? That must be not too soon and not too late and you have to identify what is a tradeable trend.

We are following the same demand of other traders, if most people are following the Bullish or Bearish trend how come… most people loose?

Where is the leaking point in this “Apparent” Zero SUm game?

Every system based on human thinking has a leaking point, because there is no ultimative system. Though, I am afraid, you have to search on your own. If anybody would find such a leaking point, why would he/she share his/her info? It’s like with the tax system. If he/she would tell a leaking point to others, government would close that leaking point.

I can just tell you, it’s much easier to find that point with a computer than with manual trading, because a computer is more accurate, can work day and night and via backtest can check trades over years in minutes.

Though, at first you need an idea where to search …

Maybe I found such a point, but right now I am not sure. I just let my machine trade and in a couple of years I will see or not see. Because I would stop trading if my profit would run out of my account. So, I can’t lose that way. I can only win: Money or/and education. I’m playing with the “casinos” money right now. :wink:

edit: To maybe clarify a thing: The markets system is the representation of mass people emotions. Mass people emotions repeat in a way of trade patterns. So, you have to do two things:

  1. Stay away from the mass trading emotions (the mass always loses), their rules, their beliefs.

  2. Find a way to use probabilities and mass trading patterns to generate a proper trading signal and then to trade on that signal of your own.

This is in my opinion the only way to be a consistent winner over time and space.

One example: If you look at another trading market, you can park your truck anywhere in front of a restaurant. There will be times in the morning, when people rush to get their breakfast. Thereafter the restaurant is almost empty. Then there is lunch, calm afternoon following. Busy in the evening again. All time around? Nope. Some times may be more busy than others, because ppl get money, travel at weekends and so on.

That same thing is valid for every market. It is valid for Forex as well. If you can identify which patterns make ppls emotions grow and buy or sell, you can use that for a signal to act on that.

Though, that is valid for a small account. If your account grows as big as the big sharks, you might act counter trend. Because you move the market or a big part of it. If you buy, the price goes up. If you sell, the price goes down.

Right now I am a very small trader, so that is just a thing to think about in the very far future, if ever. :wink:

I enjoyed reading your post a lot!

And I really agree and like to see charts like a depiction of Worldwide Economics Speculation and Emotional Responses to worldwide events, it really has a sould, and the market really breads.

Ur welcome, my pleasure! :slight_smile:

At least I have positive results which are the numbers in my account over 5 months now. So, it can’t all be wrong what I think about trading. If you ask people here or in other forums about success, there are a very few ppl who really made consistent profit over time. Not to say there are no exceptions, but what I get more and more: Most ppl who try to convince you with a belief or system are losers or they play with peanuts or demo accounts. The more they try to convince you with myths, the more they are losers or at least not winners.

Look at analysts for example or authors. I am just asking myself why they don’t all the time drive with their boat around, ordering drinks in the carribean and so on and instead are sitting in an office and running in their rat race, getting the most of their salary from their employer and not trading.

So, everybody might be careful before to believe anything what is written anywhere. There is no other way than to think through all of it for yourself. Most written stuff out there and the internet is no exception is big bs. I’d say 95% of it. That’s why “the club” has 95% losers. Just myths from ppl with a sick ego, from brokers who try to confuse ppl and so on.

It’s like searching for that signal: Searching for the 5% good reliable stuff out there.

Things are getting pretty deep in here!

What I think is the most important for me now is my “loss management”.

  1. I must not let a loss run too far. A loss is nothing more than a few pips going down. Not a failure in life.
  2. No revenge shall be taken!

If I can respect 1), then 2) will disappear.

As for those who want to know about the trades, I will trade the following pairs:

Eur/Usd
Gbp/Usd
Usd/Cad
Usd/Chf
Aud/Usd

I hopped in the Usd/Jpy and didn’t like it so I stopped (how reasonnable is that?!?)

I will be online for a bit less than an hour in the morning, same at noon and then around 2 hours in the evening. I’m in the EST time-zone (New York).

And as of friday (june 11th), I was around + 35% on my account!

Thanks all for the support/discussion!

LOL this guy looks like me 2 week ago … GOOD for you but kepp going before you go live …

At the end : blow my account is end

Im gonna try this type of challenge at the start of next month with a strategy ive been looking at!

£1000 -> 11.1 Mill. Impossible I know but challenges i like!

You may have misread my introduction posts. I’ve been live for 4 weeks now.

I like this! Unless it’s the money for the rent…

I don’t know if you plan to have a thread where we can follow your project, but if not, feel free to keep us updated in here!

On my side, things are going pretty well. I should be over +50% in 4 weeks if I don’t screw up (which is a big “if” with me!) and I should be increasing the lot size (in units) as I get there.

I dont have a thread atm! Im going to start in a week or so. Just testing my strategy and seeing what works best atm! And nah its all disposable income, if i lose it all it wont matter one bit!

Would you be interested in massive stats after a 4-weeks span?

Number of trades per pair, number of short/long, number of win/lose along with total and average pips per category.

I may put it as a picture or a file (attached to the post).

haha I love this
im moving out of my demo account in a week or so… its been pretty good. hopefully things stay positive once i go live =P
coming from stocks… but im liking forex so far.

Daily stats would be my preference.

Ultrafrisbee, in your 4 week live journey so far, are you using an ECN broker or a retail broker?

Oanda only. No MT4 demo on the side.

Nice thread I’m sticking by and reading your progress.

Personally I have a small acount ($57) that I use to gamble with. There are times where I just want to trade just to trade and I don’t want to use my real account so I set up a small live account so I can just gamble. It’s good because it feeds my need of taking useless trades without harming my real account.

Whats this weeks results?

That’s great, I am sure that is much more exciting than the boring deal of blackjack cards or the spin of the ball on the boring roulette table.

Yea well sometimes I’m sitting there and I see a trade that I want to take on “instinct” and I can’t really find a good reason why, or I can’t find enough confirmation signals to take the trade. I go over to my other account and take the trade.

They’re almost done! Unfortunately, I may only post them anywhere between tonight and sunday evening… But don’t worry, I’m still up and running and I haven’t blown my account… yet!

Hahaha, cheers!