$200 to $1,000,00?0

psymon posted:
    i like these threads because you should be able to set yourself absurd targets and go for it. I have a side account in which i have been trying for years to turn $25 into $50,000 in only 12 trades.

This isnt about trading for long term financial gain, its just for a little fun.

Plus its got to be possible i've just not managed to get past the 4th trade yet!

if anyone feels like having a crack my rules are as follows:

1, starting balance of 25$us
2, no more / no less trades than exactly 12 (the idea is to double the balance with every trade)
3, no more / no less than 12 days from first trade to last.

Have a bit of fun, its $25 and you might surprise your self!

Psymon

Chances for anyone to succeed in this challenge:
- Being extremely optimistic and assuming that you have an 80% probability to get a good trade at each stage: 0.8^12= 7%
- at a somewhat optimistic 50% success rate per trade, your chances are: 0.02% (1 in 5,000)
- at a reasonable 25% success rate of being able to catch a trade that can double your account, your chances to complete 12 levels are: 0.000006% (1 in 16,777,216)

It looks just a bit easiier thant wiinning the lottery, it is fun, and it is cheaper than a trip to Vegas.

I vouch for your idea. 😀

psymon posted:
    i like these threads because you should be able to set yourself absurd targets and go for it. I have a side account in which i have been trying for years to turn $25 into $50,000 in only 12 trades.

This isnt about trading for long term financial gain, its just for a little fun.

Plus its got to be possible i've just not managed to get past the 4th trade yet!

if anyone feels like having a crack my rules are as follows:

1, starting balance of 25$us
2, no more / no less trades than exactly 12 (the idea is to double the balance with every trade)
3, no more / no less than 12 days from first trade to last.

Have a bit of fun, its $25 and you might surprise your self!

Psymon

In order to achieve this you would need to buy max size on every trade (which is way too much risk, margin calls will come frequently), as well as achieving minimum 200 pips profit on each trade also. Sounds feasible at first until you calculate the probability of 11-12 winners in a row. The guy above me did the math....maybe you should recruit 16,777,216 people to join you? Every person contributes a dollar and whomever achieves $50,000 in 12 trades gets the pot :)

And in only 12 days? I think you would have a better chance winning lottery scratch-offs from the local gas station.

P.S. Shouldn't it be 11 trades?

balance - $25
trade 1 - $50
trade 2 - $100
trade 3 - $200
trade 4 - $400
trade 5 - $800
trade 6 - $1600
trade 7 - $3200
trade 8 - $6400
trade 9 - $12800
trade 10 - $25600
trade 11 - $51200
trade 12 - $124000

@ sean, hey ya, your quite right it should be 11 trades, i stand corrected :) but i have recently read my brokers fine print, and they change the leverage after 25000. so its a far more realistic 25 to 25000 in 10 trades in 10 days 😁 lolz. and yeah its margin call or money on each trade!

its only a 1000% increase in 10 days! ( pfffttt )

the idea was to use a std account and trade to start with 0.1, make 25pips on each trade (after spread).

@horacioo 10 perfect trades in a row, everything stacked against you, it becomes about fine tuning your entry points. and having a 100% success rate. i'm going to try again tomorrow hehe

I think that everyone who trades has one good trade of 25+points a day? no?

loving this thread

Psy

psymon posted:

the idea was to use a std account and trade to start with 0.1, make 25pips on each trade (after spread).

I think that everyone who trades has one good trade of 25+points a day? no?

loving this thread

Psy

Ah, I was mistaken in saying 200 pips minimum for each trade. I didn't realize you would be trading 500:1 leverage (which is dangerous in itself!). Here in the U.S. we are restricted by law to maximum 50:1 leverage, anything over that and you have to go with an offshore broker.

So the 'game plan' would go something like this--

#|Lots| Pips |Profit| Balance
   1 | 0.1 | 25 | $25 | $50
   2 | 0.2 | 25 | $50 | $100
   3 | 0.4 | 25 | $100 | $200
   4 | 0.8 | 25 | $200 | $400
   5 | 1.6 | 25 | $400 | $800
   6 | 3.2 | 25 | $800 | $1600
   7 | 6.4 | 25 | $1600 | $3200
   8 | 12.8 | 25 | $3200 | $6400
   9 | 25.6 | 25 | $6400 | $12800
  10 | 51.2 | 25 | $12800 | $25600
  11 | 102.4 | 25 | $25600 | $51200

So yeah, a good 25 pip trade is possible every day. But I think the major problem would be margin calls. The price doesn't have to dip far to totally wipe you out. Especially at 500:1 leverage. That's scary. The 'best' hypothetical scenario would be to just trade breakouts and hope it's full steam ahead and not going to turn against you. You would have to be completely on your toes and click BUY/SELL at precisely the right moment. lol

Splexin posted:
    

psymon posted:

the idea was to use a std account and trade to start with 0.1, make 25pips on each trade (after spread).

I think that everyone who trades has one good trade of 25+points a day? no?

loving this thread

Psy

Ah, I was mistaken in saying 200 pips minimum for each trade. I didn't realize you would be trading 500:1 leverage (which is dangerous in itself!). Here in the U.S. we are restricted by law to maximum 50:1 leverage, anything over that and you have to go with an offshore broker.

So the 'game plan' would go something like this--

#|Lots| Pips |Profit| Balance
   1 | 0.1 | 25 | $25 | $50
   2 | 0.2 | 25 | $50 | $100
   3 | 0.4 | 25 | $100 | $200
   4 | 0.8 | 25 | $200 | $400
   5 | 1.6 | 25 | $400 | $800
   6 | 3.2 | 25 | $800 | $1600
   7 | 6.4 | 25 | $1600 | $3200
   8 | 12.8 | 25 | $3200 | $6400
   9 | 25.6 | 25 | $6400 | $12800
  10 | 51.2 | 25 | $12800 | $25600
  11 | 102.4 | 25 | $25600 | $51200

So yeah, a good 25 pip trade is possible every day. But I think the major problem would be margin calls. The price doesn't have to dip far to totally wipe you out. Especially at 500:1 leverage. That's scary. The 'best' hypothetical scenario would be to just trade breakouts and hope it's full steam ahead and not going to turn against you. You would have to be completely on your toes and click BUY/SELL at precisely the right moment. lol

Its pretty hard trying to become a millionaire overnight starting with $25..but it becomes a little bit easy if a more realistic goal is set..

How about starting with a $50 account and try 100% per year....see hw it adds up and you retire rich...this is more realistic

year capital profit balance
1 50 50 100

2 100 100 200

3 200 200 400

4 400 400 800

5 800 800 1600

6 1600 1600 3200
7 3200 3200 6400
8 6400 6400 12800
9 12800 12800 25600
10 25600 25600 51200

Keep adding up and see how long it takes to get to a million dollars.......

Now try with a starting capital of $1000 and see how soon you'll get to the six figure and more status...

This is more realistic and achieveable if you're focused and determined....

I always like how people start thinking about big numbers in these posts. If you can't make a profit at $300 you won't make one at $100,000. Learn the game first before you risk $100,000. just my 2 cents :D

oh yeah by the way send me your money :P

I have a return rate of -75%. which is much better than you will have if you don't learn how to trade properly :P

Yeah, a 10 year plan looks better .. but you still need a lot more than determination and focus ...
You need a solid source of income to pay the bills while you're trying to double your money year after year ... and you need luck to have 10 winning years in a row ... in fact you need a lot of luck for that ... you need to be the luckiest person on earth.

Speaking probabilistically, a three legged hippopotamus has better chances of winning the Epsom derby than anyone making 100% year after year.

FTA01 posted:
This is more realistic and achieveable if you're focused and determined....

Hey guys, chill out. Psymon is proposing just a game or a challenge.
Nobody in his mind would consider that as Investing.
I congratulate his idea of taking the drama out of this thread.
If anybody thinks he can get 10 25 pips trades in a row join his competition. If you succeed your price is 25k. If you loose, and you probably WILL, you will loose your entry fee of 25 dollars.
(but please do not do it on your main trading account, this challenge WILL blow your account).
Cheers,
H

PS My trading skills are far too poor and undeveloped to join this callenge, but my honest best wishes and good luck to anybody who attempt to do this.

I think it can be done. You just need to know how.

finally got around to transferring some play money, the first trade is done, i will try and get the account on here.
10 perfect trades in 10 days, if anyone feels like throwing in some trading ideas please feel free :)

feel free to have a look and laugh, i'm sure i'll burn the account before the week is out...

https://www.myfxbook.com/members/psymon/25-25k/102369

good trading

Psymon
I think Tom Yeoman had a 20+ strait trades record using just a strengh meter and 2 moving averages.
You can do it!
Best of pips for you!

thanks h.

😀

2 down 8 to go...

3 down 7 to go...

4 down 6 to go...

5 down 5 to go...