if i have for example 10k could i try to double it (ik the risk of losing it all) in one trade or few one
by others words whats the best leverage and best trading categories(currency/cryptocurr/gold …)to use to double ur account just needing few pips like 10/20/50 and by whats leverage
Mate I don’t even want to answer this - it’s really quite a dumb question.
However I do my best to help beginners when I can.
Sure it’s possible - but not likely. On top of that I’m pretty sure you’d lose all your money first.
Trading can provide a great living - when you are experienced
But anyone who is thinking of doing what your suggesting will likely learn a very expensive lesson.
No disrespect but it’s almost infuriating reading questions like this
Why would you want to risk all your money on one or a few trades?
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The irony is I have more than once doubled my account in a few short months, all it takes is some skill and a good trade or two.
And I never ever risked my whole account to do it, max about 3.5% on any one trade.
You need to think of portioning up your capital rather than treating the markets like some giant game of roulette
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You could but it would be the same as going to the casino and puting it all on black.
I am sorry but that is not the mindset of a successful trader.
Good luck
Cheers
Blackduck
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You can probably double it, but in a longer period of time. If you are beginner, then dont keep this idea on your mind. Focus on improvement of your strategy and skills and money will come as a result of your perfected skills.
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If you make just 6% profit per month and do not make any withdrawals you will double your account in a year. Now consider what happens if you use the same strategy for 10 years.
Making 6% per month is not an aggressive target and should not involve trades with massive percentage account capital risks. Can you make 6% a month?
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From a theoretical point of view, anything is possible, but you should make a reasonable judgment as to how appropriate it is for you and whether you can afford the risk. Think about whether you can afford to lose it all if something goes wrong.
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I think that in order to work productively and for a long time, you should distribute your capital so that you can gradually build up your capital and still have the right to make a mistake.
You don’t have to hurry up and get everything you want without any difficulty.
It is better to have a target monthly. I don’t know if it is possible to double the account in a short time but if you go to double the account quickly there can be many problems. Trading requires a plan It is never possible to make a profit without a plan. So try to trade from safe according to discipline.
How many trades do you think you made in that time frame?
All it takes is two or three, will maybe four decent trades to do that.
They don’t come around often but within any one year there are in my opinion three or four great trades.
Most notably this year it’s been gold - I’ve had three trades netting 10R
When you get one great trade - suddenly you can bump up size so then even a few small R profits can also be significant
Of course gold isn’t always trending so well - but there is always one market outperforming.
I’ve had great tech stocks trades of late.
With margin and just a few good trades a year much is possible.
Hi,
As @Johnscott31 wrote the question is not so interesting.
Like him, I double accounts but took me like 12 months.
My goal was to make money not double the account quickly. You need to trade so you survive black swans.
If you want to double quickly. Go to casino or try to play poker. You will not double your account on the market. If you were able to it wouldn’t you ask this question.
There are traders making good profits. They also blow away a lot of money in a short period of time
(NOT MY ACCOUNT )
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You need to focus on improving your trading strategy. Once you learn then you can make money from your trades.
First off, I know it IS possible because I have done it just recently. I almost tripled my account in one trade idea on BTCUSD, it was a 2.83 X increase in account with 2 positions 1.5% and 1.25% risk of the account. But it was a trade that took about 3 months from start to finish (April 22 to Aug 2) plus had a detailed creative trade plan. More info, see the SMA Crown Trade here: https://smatrading.io/case-studies
Now that I have your attention… I have to let you know that your intentions to “try to double your account” will likely lead to losing big. This is gambling mentality at it’s finest, not “a trade.”
The linguistics you use for “multiple categories” and “few pips” translate to me that you are just looking at anything for a reason to “make money quickly” and this is just a perfect storm for disappointment.
The only way you can really achieve this in one trade idea with proper risk management is the same way I did, tight SL and massive TP target. Given your level of linguistics I would say you are far from being able to do. Focus on growing small first, trading is a get-rich slow scheme at best. There is no “best leverage” only risk-management as leverage is a two-edge sword. I teach my students to “Take care of the losses first and the winners will take care of themselves.”
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Fully agree - with markets that by nature move alot - coupled margin trading - tight stops + letting profits run for most of the move - outsized gains are actually quite simple.
Keeping them is not - but that’s a whole different issue!
Wow, that’s really impressive!
I like this answer!
10 R trades aren’t impressive other than for the need to be patient.
It’s much more impressive day trading day in day out - something I cannot do at all.
However there is something to be said in trading the longer term swing - in gold there have been three since last December.
The swing is where the easy money is made - which is why I always say beginners should start there.
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Any resources you care to share for beginners moving into Gold? Or is it much in the same as beginning with Forex?
Did you get to jump in the Zoom and Fiverr bandwagon?
Gold trades as a currency - the physical demand important as it is pales in comparison to the volume of OTC paper gold.
The price moves are similar - though I would say Gold trends better. While all markets break out from tight consolidations at times gold does it with regularity - i use inside bars for my gold timing but you could also look at triangles, falling wedges, or coils.
When you ask about gold resources what do you mean?
Gold technical signals, gold news, or what?
There are many gold websites around.
If you want to understand gold probably the biggest name is Jim sinclair at - JSmineset.
But there are many more who talk about Gold
One person I follow is Gary Savage at Smart money tracker - he uses cycle theory for his analysis - which is so far removed from the way I approach markets, and the reason why I like what he does.
I think his general gold calls are among the best - he has more understanding of markets and mass psychology than most
I will say though, never ever put your faith in one resource or guru. Find out how the market works and come to your own conclusions.
Also the world gold council website is a great resource.
Yes I was in Zoom, luckily I made a good trade on the recent earnings pop. There is also a signal for today (using my trading method) - can’t wait for US open to see.
Fiverr - no not in that. I did go long Uber last night though.
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