Right! That's why I say doubling $200 is significantly different from doubling $200,000. One may say theoretically they are the same, but that statement would be false. First of all, with $200, you can obtain a huge amount of leverage. But with $200,000 your leverage will be significantly less. Secondly, psychologically, it will be way harder to trade aggressively with that much capital. I don't care if you are George Soros, I doubt he would sling around $200k like it is $200. That is why I my original answer was within the scope of the question. If he would have phrased the question differently, my answer would have varied accordingly.
psp7292 posted: 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.
I learned this a long time ago... THE SECRET.
trade from a super small account. Like a balance of X that doesn't mean anything to you. Everyone has their own FUN money so use whatever is your level of fun money. This way you have no emotions to the money and now its time to trade your trading system like you should ==== without emotions.
When you are trading this small account, you have your larger accounts connected through a TradeCopier and this way you get the same +/- % on the bigger account without seeing the Emotional side of trading. ( Money).
i've been doing this for over 2 years now and its the real secret to becoming profitable.
James_Bond posted: 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.
I think you have hit the nail squarely on the head 007. In my first demo account I made $87,000 on a $50,000 account overnight, but I've never done it since! I've had 300% monthly returns...with 89% drawdown!
But today my drawdown is 6%, my risk factor is between 2%-5% of equity, and I average 1:1.9 risk-reward. Oh, and this month I'm on target for a 100% gain...
I agree its easy to throw around $200 bucks and try to double it quickly, very different from $2000 or $20,000. But if someone wanted a plan to double $200 . You trade .40 a pip and have a 500 pip goal for the month. 125 pips a week or 25 pips a day.
Im sure there are many ways to put that plan together. But have fun , there is one way.
Yup 54% DD but that was due to a conflict of two trades that closed when they shouldn't from a second EA that I was adding to the strategy, You can see it on the comments if you go to History and if you click the DD tab you will see 11.11% DD. Nevertheless this is a High Risk strategy like I say in the description and it's a take the money and run strategy before it blows so the DD is high and it will blow the account at some point in time, I'm well aware of that. But again for me it's worthy and I don't mind to risk $250. Besides I'm not just aiming for $250 profit. My goal is to double the account every month before it blows.
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.