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20 trades to become millionare - is it possible?

vontogr (togr)
Jan 03 2020 at 09:40
4862 posts
tacet posted:
I have an an easy solution for you guys: deposit $2M and then do your 20 losing trades all the way down to $1M. You can even buy an expensive holy grail martin EA for that, live it overnight, go to bed and... in the morning you are a 1-millionaire... 😂
Yeah exactlly
Treeny
Jan 05 2020 at 15:27
213 posts
MEFXBK posted:
While some comments are negative I can understand the thought process behind them but while I have have achieved this in the last 3 weeks of December I am about to do it again in the first 2 weeks of Jan.

However I really wanted to highlight a different aspect to this question, it not about can you get 20 trades in a row it is more discipline. Look for one quality, high probability trade per day, have a plan in place with your risk appetite accounted for. For me to achieve my goal I only require 20 pips a day for month but for the next two weeks I want 100 pips a day and with the assets I trade that is easy I can have those 100 pips within 5 mins or it could take me hours to get there but once I have 50% of my daily target I take a break even position then at 75% I take a 40% profit then if my 100 pips it at a key level I take my profit and enjoy my day. If the 100 pips shows more momentum I will let it run and jump my SL and everything above the 100 is a bonus.

But honestly it is not about number of trades it is the quality and the discipline.

Keep us updated please :-)
Eduard (edwardddking)
Jan 05 2020 at 18:28
7 posts
Gambler mindset.Get a job, save up some money and have proper risk management. What is your strike rate? With 70% strike rate, there's a 31.8% that you'll have 4 consecutive losers.
Eduard (edwardddking)
Jan 05 2020 at 18:29
7 posts
I'd doubt you have that. But even if you had it, those 4 consecutive losers will destroy your account without a proper risk management. Trade Smart, Be Smart. I wish you the best.
MEFXBK
Jan 06 2020 at 00:32
8 posts
That makes me laugh but let me point out something that I factor in.

My real account that I trade for growth etc I risk up to 0.75% per trade including multiple positions of that trade so in reality my risk is like 0.005% however for the above discussion that is a seperate account that has a different structure and purpose to it just like my News account is only used for trading news releases.

So while I appreciate your save and get a job statement maybe be a little more respectful before you assume and think that maybe trading is my job and I generate 6 figures a month from my standard account
Joshua Moreton (n229vxhbx)
Jan 09 2020 at 16:27
5 posts
Just a gentle note to all new traders who may be looking at this thread for their own research.

Please do not listen to MEFXBK, or attempt this strategy with real money. Please by all means DO attempt it with a demo account, and then come back to show fellow New Traders what it looks like!

Martingale is dangerous for all but the very largest bank balances. You cannot simply turn $1,000 into $1m in 20 trades. Think about it, if making a million dollars was REALLY that simple, why would this forum be filled with thousands of people trying to even just make 20% a year.

Be vigilant, and always apply the most logical of common senses to all 'ideas' and 'strategies'. If it's too good to be true, then it unfortunately is.
Money doesn’t do much when it’s standing still. It’s when it’s moving around that it really works - Terry Pratchett
LongVision
Jan 09 2020 at 16:58
254 posts
Please shows your millionaire account.
The market will trade through it’s path of least resistance .
Marketmultitool
Jan 09 2020 at 19:40
69 posts
It's possible if you find the right trades and got a reasonable starting point.

It's going to have to be another asset apart from FX unless there is some major news event like Brexit or unpegging

Crash type events can be golden opportunity.
Strength and honor.
vontogr (togr)
Jan 10 2020 at 08:00
4862 posts
MEFXBK posted:
That makes me laugh but let me point out something that I factor in.

My real account that I trade for growth etc I risk up to 0.75% per trade including multiple positions of that trade so in reality my risk is like 0.005% however for the above discussion that is a seperate account that has a different structure and purpose to it just like my News account is only used for trading news releases.

So while I appreciate your save and get a job statement maybe be a little more respectful before you assume and think that maybe trading is my job and I generate 6 figures a month from my standard account

If you had made $1,000,000 you would have different interest than here on MFB.
If you have such account post it here on MFB.
But you can't because you dont have any
Howgh
Joshua Moreton (n229vxhbx)
Jan 10 2020 at 09:20
5 posts
OK, I quickly made a spreadsheet to just hopefully visualise the basic mechanics of this flawed system.

Take profit +20 pips, stop loss -50 pips:

https://prnt.sc/qlpptm

Take profit +20 pips, stop loss -20 pips:

https://prnt.sc/qlpqld

One other thing I would point out is that this is not truthfully Martingale, as Martingale doubles upon a loss, NOT upon a win, so it means your eventual winners are double your previous losses. THIS idea means your eventual loss is double your previous wins lol
Money doesn’t do much when it’s standing still. It’s when it’s moving around that it really works - Terry Pratchett
MEFXBK
Jan 14 2020 at 01:11
8 posts
@vontogr I do have other interests and the reason I am on here is because I look for talented traders to join my hedge fund so sorry to disappoint you but maybe you need to consider the overall objectives. As for @joshua Moreton I agree with your statement of dont follow me however I do not martingale but I have a very specific money management strategy
Joshua Moreton (n229vxhbx)
Jan 14 2020 at 10:11
5 posts
@MEFXBK glad you agree, strategies of this nature can often mislead new traders and help fuel the high failure rate in this industry. If your comment about a hedge fund is truthful, drop me a message. I am currently evaluating the options of founding my own vs joining another. Would be keen to speak.
Money doesn’t do much when it’s standing still. It’s when it’s moving around that it really works - Terry Pratchett
Marraby
Apr 13 2020 at 19:10
48 posts
No, it's way too low basically by any params out there entirely and clearly anyway if it will be even possible out there. You need to make much more and not from the first time to achieve such results if you want to, so be carefull please.
vontogr (togr)
Apr 14 2020 at 14:28
4862 posts
MEFXBK posted:
@vontogr I do have other interests and the reason I am on here is because I look for talented traders to join my hedge fund so sorry to disappoint you but maybe you need to consider the overall objectives. As for @joshua Moreton I agree with your statement of dont follow me however I do not martingale but I have a very specific money management strategy

I believe your statement are worthless as you do not have any trading account.
Trallod
May 12 2020 at 15:17
24 posts
I don't even know... Sounds kind of unlikely. As a minimum. If you've thought about it, I doubt that only you've alone ever had a strategy like this and nobody else. But since we haven't heard of anyone succeeding with a similar strategy, I doubt it's even possible.
Wildbill
May 12 2020 at 18:07
38 posts
Go for it. Place a single trade of $10,000 on a pair where a pip equals $10,000 and has an ATR of 100 pips. You can make your million without making a single additional trade. Let us know how it turns out.😲
reggae
May 13 2020 at 06:23
70 posts
If all the trade result in a positive 100% win, then sure. But we all know that can never happen. Interested to see if anyone can make it happen.
Evelyn55
May 13 2020 at 06:51
52 posts
reggae posted:
If all the trade result in a positive 100% win, then sure. But we all know that can never happen. Interested to see if anyone can make it happen.

Totally agree with you. Lets face the reality.
shirtgeek
May 13 2020 at 10:28
9 posts
Wildbill posted:
Go for it. Place a single trade of $10,000 on a pair where a pip equals $10,000 and has an ATR of 100 pips. You can make your million without making a single additional trade. Let us know how it turns out.😲

If a few people try it then 1 might actually pull it off. This person will claim it is all skill and they have the next big idea. But it is just luck. Just like many a 'pro' trader. They are running a lucky wave. It will crash against the rocks eventually
Stonesong
May 13 2020 at 12:00
128 posts
Each has its own path in trade and an undefined framework.
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