Rating: Full Star Empty Star Empty Star Empty Star Empty Star
20 trades to become millionare - is it possible?
Previous 1 2 3 4 Next
togr

Member Since Feb 22, 2011  4541 posts vontogr (togr) Jan 03 at 09:40
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... yell

Yeah exactlly

I like what I trade, I trade what I like
Treeny

Member Since Feb 08, 2019  102 posts Treeny Jan 05 at 15:27
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 :-)

edwardddking

Member Since Jan 17, 2019  5 posts Eduard (edwardddking) Jan 05 at 18:28
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

Member Since Jan 17, 2019  5 posts Eduard (edwardddking) Jan 05 at 18:29
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.

eduard
MEFXBK

Member Since Feb 27, 2018  6 posts MEFXBK Jan 06 at 00:32
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

n229vxhbx

Member Since Aug 19, 2019  4 posts Joshua Moreton (n229vxhbx) Jan 09 at 16:27 (edited Jan 09 at 16:27 )
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

Member Since Apr 06, 2018  224 posts LongVision Jan 09 at 16:58
Please shows your millionaire account.

The market will trade through it’s path of least resistance .
Marketmultitool

Member Since Dec 19, 2019  45 posts Marketmultitool Jan 09 at 19:40
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.
togr

Member Since Feb 22, 2011  4541 posts vontogr (togr) Jan 10 at 08:00
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

I like what I trade, I trade what I like
n229vxhbx

Member Since Aug 19, 2019  4 posts Joshua Moreton (n229vxhbx) Jan 10 at 09:20
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
Previous 1 2 3 4 Next
Loading
Loading
EURUSD 1.10261 GBPUSD 1.30719
USDJPY 109.285 USDCAD 1.31473

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2020 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.