To use chat, please login.
Back to contacts

Why I'm Proud of Myself (Now)

Splexin
Jun 08 2011 at 02:14
202 posts
Haha this is total BS....waited 16 hrs for a long trade to get out of water....finally escaped it only to watch it jump and hit my target.....while I had entered a different trade which ended up hitting my Stop-Loss.

FML LOL 😲

speki
Jun 08 2011 at 10:51
735 posts
Well isn't it always so? Just when you think you've cracked it, it bites you badly. Total BS, well said ... Random BS.

Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Forex Anadova
Forexanadova
Jun 08 2011 at 15:49
186 posts
I just did some math and find out that, if you open an account with 1000.00USD and make 25.41% a month return, in a year, you will have 15,135.13 USD, in two years, 229,072.01
With 5K, in two years, you will have a million.Now, I have seen some EA that show a ROI of 65% and more a month, so, with a 65% monthly with a 1000.00USD opening balance in two years, you will get 165,811.504.97USD!!!, in one year, 407,199.56USD

With 5K?, I will tell you BUT , sit down!, ready? in a year 2,035,997.94USD, in two years 829,057,524.83 USD!!!.

Now, all this is assuming that the precetage is steady and there are no withdrwals.

So the question is, is it possible to be a millionaire by just trading Forex? Let me know.


Splexin
Jun 08 2011 at 18:21
202 posts

speki posted:
    Well isn't it always so? Just when you think you've cracked it, it bites you badly. Total BS, well said ... Random BS.


I swear, the market is always teasing me. Almost every time I am in a trade for 16 hours or even several days, it just stalls and runs flat or goes down until it finally gets back to break-even and I get tired and dump the trade. Then it immediately goes in what would've been my favor. This is how it always is-- either I wait too long to get out or I don't wait long enough! lol

Forexanadova posted:
    I just did some math and find out that, if you open an account with 1000.00USD and make 25.41% a month return, in a year, you will have 15,135.13 USD, in two years, 229,072.01
With 5K, in two years, you will have a million.Now, I have seen some EA that show a ROI of 65% and more a month, so, with a 65% monthly with a 1000.00USD opening balance in two years, you will get 165,811.504.97USD!!!, in one year, 407,199.56USD

With 5K?, I will tell you BUT , sit down!, ready? in a year 2,035,997.94USD, in two years 829,057,524.83 USD!!!.

Now, all this is assuming that the precetage is steady and there are no withdrwals.

So the question is, is it possible to be a millionaire by just trading Forex? Let me know.



I think it is possible but only if you maintain consistency. I also think the key is to start off with a substantial balance, i.e. $10K. Because I have started 2 accounts of $1500 and lost the first one and this one I am struggling on. Not because of over-leveraging but because the risk/reward isn't good enough. Takes 100 pips to get anywhere and in these choppy markets 100 pips is like winning the jackpot at a casino.

But I do imagine even with bigger account, as the balance grows larger your emotions become more difficult to control. You might be tempted to cut profits too early etc, let losses run in hopes things will turn in your favor etc.

Forex Anadova
Forexanadova
Jun 08 2011 at 18:54
186 posts
I suggest an EA and let the EA do its thing.
 With 10K, in 9 months , you are already a millionaire with 1,495.682.29, in a year you have 4mil and with that, I do not think anyone will continue trading, but just in case in two years you are BILLIONAIRE! ( one billion).

Why don't we aim for that?, I will.

Splexin
Jun 08 2011 at 18:56
202 posts

Forexanadova posted:
    I suggest an EA and let the EA do its thing.
 With 10K, in 9 months , you are already a millionaire with 1,495.682.29, in a year you have 4mil and with that, I do not think anyone will continue trading, but just in case in two years you are BILLIONAIRE! ( one billion).

Why don't we aim for that?, I will.


Yeah well I am testing an EA live right now.......and my equity is down 20%. And this is supposed to be a kick-ass EA. So EAs don't really impress me so far.

Forex Anadova
Forexanadova
Jun 08 2011 at 18:58
186 posts
Have u seen mine? just wait and see.

Splexin
Jun 08 2011 at 19:03
202 posts
Yes, I have seen yours....12 out of 12 so far it is doing good.

The one I am currently testing is more of a trending EA and some trades can be open for a day or longer. It has lots of wins but the problem is the draw-down and on regular settings it risks too much. lol

Forex Anadova
Forexanadova
Jun 08 2011 at 19:05
186 posts
That is the problem with most of the EA's. Good luck and just keep on watching, I will get to the million.


speki
Jun 08 2011 at 19:08
735 posts
Don't forget it's curiosity that killed the cat and it's confidence that killed the trader. Teto, did you run backtests for 2-3 years? I've seen this year's backtests and it was really impressive. Curious about last year or 2009. There were big sudden moves that test even the best systems.

Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Topic is locked