Why I'm Proud of Myself (Now)

Haha this is total BS....waited 16 hrs for a long trade to get out of water....finally escaped it only to watch it jump and hit my target.....while I had entered a different trade which ended up hitting my Stop-Loss.

FML LOL 😲

Well isn't it always so? Just when you think you've cracked it, it bites you badly. Total BS, well said ... Random BS.

I just did some math and find out that, if you open an account with 1000.00USD and make 25.41% a month return, in a year, you will have 15,135.13 USD, in two years, 229,072.01
With 5K, in two years, you will have a million.Now, I have seen some EA that show a ROI of 65% and more a month, so, with a 65% monthly with a 1000.00USD opening balance in two years, you will get 165,811.504.97USD!!!, in one year, 407,199.56USD

With 5K?, I will tell you BUT , sit down!, ready? in a year 2,035,997.94USD, in two years 829,057,524.83 USD!!!.

Now, all this is assuming that the precetage is steady and there are no withdrwals.

So the question is, is it possible to be a millionaire by just trading Forex? Let me know.

speki posted:
    Well isn't it always so? Just when you think you've cracked it, it bites you badly. Total BS, well said ... Random BS.

I swear, the market is always teasing me. Almost every time I am in a trade for 16 hours or even several days, it just stalls and runs flat or goes down until it finally gets back to break-even and I get tired and dump the trade. Then it immediately goes in what would've been my favor. This is how it always is-- either I wait too long to get out or I don't wait long enough! lol

Forexanadova posted:
    I just did some math and find out that, if you open an account with 1000.00USD and make 25.41% a month return, in a year, you will have 15,135.13 USD, in two years, 229,072.01
With 5K, in two years, you will have a million.Now, I have seen some EA that show a ROI of 65% and more a month, so, with a 65% monthly with a 1000.00USD opening balance in two years, you will get 165,811.504.97USD!!!, in one year, 407,199.56USD

With 5K?, I will tell you BUT , sit down!, ready? in a year 2,035,997.94USD, in two years 829,057,524.83 USD!!!.

Now, all this is assuming that the precetage is steady and there are no withdrwals.

So the question is, is it possible to be a millionaire by just trading Forex? Let me know.

I think it is possible but only if you maintain consistency. I also think the key is to start off with a substantial balance, i.e. $10K. Because I have started 2 accounts of $1500 and lost the first one and this one I am struggling on. Not because of over-leveraging but because the risk/reward isn't good enough. Takes 100 pips to get anywhere and in these choppy markets 100 pips is like winning the jackpot at a casino.

But I do imagine even with bigger account, as the balance grows larger your emotions become more difficult to control. You might be tempted to cut profits too early etc, let losses run in hopes things will turn in your favor etc.

I suggest an EA and let the EA do its thing.
 With 10K, in 9 months , you are already a millionaire with 1,495.682.29, in a year you have 4mil and with that, I do not think anyone will continue trading, but just in case in two years you are BILLIONAIRE! ( one billion).

Why don't we aim for that?, I will.

Forexanadova posted:
    I suggest an EA and let the EA do its thing.
 With 10K, in 9 months , you are already a millionaire with 1,495.682.29, in a year you have 4mil and with that, I do not think anyone will continue trading, but just in case in two years you are BILLIONAIRE! ( one billion).

Why don't we aim for that?, I will.

Yeah well I am testing an EA live right now.......and my equity is down 20%. And this is supposed to be a kick-ass EA. So EAs don't really impress me so far.

Have u seen mine? just wait and see.

Yes, I have seen yours....12 out of 12 so far it is doing good.

The one I am currently testing is more of a trending EA and some trades can be open for a day or longer. It has lots of wins but the problem is the draw-down and on regular settings it risks too much. lol

That is the problem with most of the EA's. Good luck and just keep on watching, I will get to the million.

Don't forget it's curiosity that killed the cat and it's confidence that killed the trader. Teto, did you run backtests for 2-3 years? I've seen this year's backtests and it was really impressive. Curious about last year or 2009. There were big sudden moves that test even the best systems.

That is why I am saying...., and it is not confindence, is optimism, two different things.
Also, I only need one year, after that million, chash out and start again with 5K.

Amen, brother. Let's get back to this same time next year? I'll have the champagne ready. Go Teto Go. 😄

Thanks my friend!.😁

FINALLY into profit!!! And I swear, I'm never going to do what I did to get there again. Frustration took over, and I was just like 'Screw it' let's make a lot of money in one trade....lol

Needless to say, I met my trading goal for June so decision to keep trading or not is up to me. It would be nice to get ahead because I have to make another grand by the end of July in order to make that goal.

P.S. Already up 20% on new demo account in just a few days...one day it will be that easy for real account....lol

Hmm... you're a gutsy boy. You made almost a grand on that one pound short. 200 pips, $800 banked. And you held it for a day. Pff, that's a mindjob! Maybe was a big trade, but you don't have to play that big all the time ...

Hard to leave those hang-ups at the door, eh? I mean, when was the last time the checkout boy asked HOW you made that money? Never. Nobody gives a f...k. Just make money!!!

Keep it up!!!

I was just fed up and tired of being below/at break-even lol.

Yeah, I would've made OVER a grand had 1) I waited a few hours to enter or 2) held onto the trade. The price went about 30-40 pips above my original entry before taking a dive down. And the original target was 1.6080, but then I moved it up a little because I thought the market would consolidate and I didn't want to wait any longer lol

Trust me, I don't play big all the time. Now I am back to my 2-3% risk per trade with SLs at 30-40 pips and TPs at 80-100 pips. On occasion I will play with tight SLs and larger positions, but that is only for 'no-brainer' trades.

I like the sound of that 'no brainer trade' :)

Yeah, no-brainer, LOLZ.

NEEDaPIP posted:
    I like the sound of that 'no brainer trade' :)

confidence.. gutsy.. mindjob.. no-brainer... this is simply hilarious.. a bunch of kids trading demo money.. and stroking each other's egos. this is gut busting funny.

position in progress.

balance: 2300
free margin: 1831

zero/.