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$200-100k challenge

Pentz Consulting
ForexScreamer
Jun 04 2019 at 21:36
49 posts
It looks like he's given up? He's made a few withdrawals from his account.

Professional4X
Jun 11 2019 at 04:30
1189 posts
Howdyy5 posted:
How to make $100k? Start with $500k.😀



YES!

Attachments:


If it looks too good to be true, it's probably a scam! Let the buyer beware.
vontogr (togr)
Jun 11 2019 at 07:24
4862 posts
Guys,

you need to distinguish what is your imagination and what is the reality,
there are no Xman and no Superman in real life,
neither there are traders who make $200 into $100,000.
Talking about that is like when small child sitting in the chair pretends to control the spaceship :)

Pentz Consulting
ForexScreamer
Jun 11 2019 at 17:45
49 posts
togr posted:
Guys,

you need to distinguish what is your imagination and what is the reality,
there are no Xman and no Superman in real life,
neither there are traders who make $200 into $100,000.
Talking about that is like when small child sitting in the chair pretends to control the spaceship :)


I see what you're saying but I don't agree 100%. It's definitely possible to turn $200 into $100,000 as long as there is no time limit specified. It's not going to happen in a year, in 2 years, probably not in 5 years. It would take time and patience, but it's do-able.

Pentz Consulting
ForexScreamer
Jun 11 2019 at 21:12
49 posts
I'm temped to try this but I want to use a Demo account, or wouldn't that be appropriate?

Professional4X
Jun 11 2019 at 22:10
1189 posts
ForexScreamer posted:
I'm temped to try this but I want to use a Demo account, or wouldn't that be appropriate?


You are completely free to try and trade $200.00 into $100,000.00

Personally if it were me, I'd probably use a real account though.
After all, if I was going to put all that time and effort into doing it, I'd want to actually keep the profits.
But again, it's just my own personal opinion.

I've turned $250.00 into $2500.00 with 1:50 leverage in a few days before, but I was fortunate at the time to hit a strong running trend and was able to stack my tickets with increasing unit sizes into the basket until my series of trades closed out.

I used a special purpose built bot that was designed with a very specific chart setup and the money management was basically nonexistent.

The trade rules were basically 'Trade one direction only as indicated by the long term trends, keep trading into the trend no matter what regardless of the what the short term trend is doing, and make $2500 or blow out the account trying', which of course is absolutely NOT a smart way to trade.

This was just an experiment for myself to see if it 'COULD' be done, not to say it 'SHOULD' be done. OK?
It's a bad idea to think it's a good idea to trade this way. A REALLY bad idea.

What I'm saying here is that, while it IS possible to gain quick profits, it isn't guaranteed that you can do it, and unless you are using some sort of automation to do it, you probably aren't going to be able to do it very quickly, and the account in question will probably get blown out because of over trading.

Now if you are talking about turning $200 into $100,000 with no time limit, then most certainly DO THAT.

Perhaps though, you might want to lower the unrealistic expectation levels, and go for something more reasonable like $200.00 into $400, then $400 into $800, etc etc etc.

Professional traders understand that real success in trading comes from using solid money management and discipline over ones emotions.

Those are two of the most important things when it comes to trading in my opinion.

Money management will protect your investment capital by minimizing your risk.
Discipline will protect your ability to trade without emotional impact.

You'll notice I didn't mention strategy right?

You can use any strategy you want, as long as you understand the strategy well enough to make a consistent profit over a long period of time with minimal risk.

But money management and discipline should be the highest priority, because those two items will PROTECT the profits that the strategy generates.

Again, all of this is just my opinion.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Pentz Consulting
ForexScreamer
Jun 11 2019 at 22:33
49 posts
The original poster never mentioned a time limit which is why I think it's do-able. I would definitely use an automated trading system because that would take emotions out of the equation. If I tried it and failed miserably, $200 wouldn't break me. But the abject humiliation would be ... nasty! 🙃

I'm still mulling it over. If it could survive the first month then it might have a chance.

Professional4X
Jun 11 2019 at 23:00
1189 posts
ForexScreamer posted:
The original poster never mentioned a time limit which is why I think it's do-able. I would definitely use an automated trading system because that would take emotions out of the equation. If I tried it and failed miserably, $200 wouldn't break me. But the abject humiliation would be ... nasty! 🙃

I'm still mulling it over. If it could survive the first month then it might have a chance.


In my opinion it would be better to set your expectations to something more realistic though.
$200 into $400 is 100% profit. Most traders struggle to get 100% profit in a year.

My own ROI 'goal' is a flat 25% annual.

Think of it this way, if you had an investment account with $400,000 USD and your general ROI is 25% annually, then you would be adding $100,000 to your account over the course of a year.

In my opinion anyone should be able to live a fairly comfortable life on $100,000.00 a year if they use money management and disciple in their lives as well as their trading.


If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X
Jun 11 2019 at 23:02
1189 posts
togr posted:
Talking about that is like when small child sitting in the chair pretends to control the spaceship :)


True words. :)



If it looks too good to be true, it's probably a scam! Let the buyer beware.
Pentz Consulting
ForexScreamer
Jun 11 2019 at 23:05
49 posts
I agree with everything you're saying. But the challenge is $200 into $100,000. If it had to be done in a year then I wouldn't even consider it; you'd have to trade way too hot. In the beginning I'd have to trade very conservatively. This wouldn't be my only trading account, I have others. This would be an experiment.

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