To use chat, please login.
Back to contacts

Do you think you can turn $200 into $400 in six weeks?

Blazan (blazan)
Oct 18 2012 at 21:07
5 posts
Perhaps you guys should consider risking much less on each trade and shooting for a consistent 10% - 20% net gain each month. Spread out your success and reduce your risk at the same time. You don't have to stress yourself out trying to double your account in a week. Consider how it would feel to double every 6 months, consistently. And when you reach your goal each month, STOP TRADING. This is how you become a successful trader. Just my opinion of course.

Peter (psp7292)
Oct 18 2012 at 21:16
3 posts
To double a small account is relatively easy and doesn't take very long because the trader doesn't feel like he's risking a lot with each trade. However, to double a $10,000 account would be harder and take longer. So, more credit should be given to a trader who has doubled a bigger account.

Discipline. Patience. Knowledge.
Geereg
Oct 18 2012 at 21:17
18 posts
This is easily attainable if you compound 2% daily for 30 (6 weeks x 5 days/wk.) days. Or you can just do a simple return of 3.3% per day. However, this gets psychologically harder with something like turning $200k into $400k.

A man should look for what is, and not for what he thinks should be.
ChallengeFX
Oct 18 2012 at 23:51
8 posts
Just stop talking of doubling your account, or any account for that matter in a month...it's pure stupid and reckless. Regardless of the mathematics behind your reasons for justifying why it may appear easy. No wonder why so many people can't trade, its a total joke.

stinsfireFX
Oct 20 2012 at 18:39
5 posts
I managed to achieve this in two weeks back in july with my real trading account, but shortly after I ended up wiping my account...was taking on too much risk and it eventually caught up with me.

TheLastBear
Oct 23 2012 at 14:14
186 posts
I think the only one who really understood this was Geereg. CahllengeFX, the reason so many people are not able to trade is because they simply do not understand it.

Pax puts the X in Forex.
ChallengeFX
Oct 23 2012 at 21:05
8 posts
I still disagree completely, even making 2% daily is just not possible in the long term, no matter how you sweeten up the offer. The only aspect that Greg understood, and with no disrespect to Greg, is one possible mathematical approach.

Geereg
Oct 23 2012 at 23:01
18 posts
ChallengeFX posted:
I still disagree completely, even making 2% daily is just not possible in the long term, no matter how you sweeten up the offer. The only aspect that Greg understood, and with no disrespect to Greg, is one possible mathematical approach.


Hey, i don't want to get into an argument here. ChallengeFX, you seem to be an intelligent person. Believe me, I am not being sarcastic. But, you say that you are 'not showing me disrespect' by your comment. But, in a way you are. How do you know that the 'only aspect that Greg understood...' You don't know who I am? Well, do you? Sorry, I hope I didn't offend you. But, I don't like it when people say what I know or what I don't know. I would never so that to you. Because I don't know you. The only thing I know about you is that you don't know anything about me.

OP asked a simple question. 'Do you think you can turn $200 into $400 in 6 weeks?' So, I assumed that he was asking for one's opinion on his own ability. If he would have phrased the question as 'can the average joe consistently turn $200 into $400 in 6 weeks?', or 'do you think can you consistently turn $200 into $400 within 6 weeks?', my answer would have been very similar to yours. But you see, I was not answering on anyone else's merit but my own. So, how are you going to answer for me? If you don't feel that you can achieve this type of return with a small amount, that is ok. If you feel that you can, that is ok too. But, you shall not say that it is impossible for anyone to do, regardless how unlikely. I have had similar results with small accounts on more than one occasion. Even currently, I started over with a similar size account. I am up close to 42% in one week. But you are absolutely correct. Extremely high daily yields are very difficult to achieve in the long term, but he asked in the short term (6 weeks). Six weeks isn't long enough to judge results. Especially, my results after one week. I would be foolish to show off my statement to start a hedge fund based on one week, six weeks, or 6 months. But, in the short term anything is possible! Doubling a small account by using high leverage is definitely possible. I've done it.


A man should look for what is, and not for what he thinks should be.
James_Bond
Oct 25 2012 at 15:32
556 posts
ChallengeFX posted:
I still disagree completely, even making 2% daily is just not possible in the long term, no matter how you sweeten up the offer. The only aspect that Greg understood, and with no disrespect to Greg, is one possible mathematical approach.


You can't guarantee 2% per day, but you can definitely have such an average longterm, along with compounding.

James_Bond
Oct 25 2012 at 15:35
556 posts
I also think that its not a question of is it possible, but a question of who is going for it - successful traders with large amount of money in their accounts don't look for such returns simply because of the risk associated - I think the less experienced trader you are, the higher target of return you'll see for your self; as time goes by and you understand trading (and risk) better, so does this 'target' goes down.

Topic is locked