20 trades to become millionare - is it possible?

It is possible but the probability would be 0.5x0.5.. 20 times which is
9.53674316e-7

If your capital investment is really big, only then it is possible.

It is possible to actually achieve this result from a $50 investment. Don’t get me wrong you need balls of steel but it’s possible. I plan on showing real account tracked on here starting next month doing it for the final push for the year. Then the non believers can say oh it is possible and for the believers then it will be I can do as well

If the investment is good and the money management can be maintained properly, then it is possible. But you have to trade according to the discipline and you have to maintain the risk. If you can trade in such a way then it is possible to earn a lot of money from trading.

Nothing is impossible in this world. You just need complete knowledge and proper dedication to make it possible.

DarkForex posted:
Hi,

Thinking about an idea. If we trade on a broker that has leverage 500:1 and we have 20 consecutive trades with lets say 50 pips profit, can we double lot on each trade?

SL would be 20 pips. So first trade 0.01 lot 5$, 0.02 lot, 10$, if 0.04 lot is loss then -8$, but then we start with 0.02 lot again.

On 20th step, we would be on around 3 mil $ or something like that.

Would that be possible?

This is way to much risk and prediction. I would advise you to make some room for losses in your strategy. Its not possible that all your trades go in profit and allow you to double your lots with every step.

Everything is possible in this world. Just keep trying. One day you will find your success.

To answer your question about a high leveraged account there are other factors to consider. I will give you some different scenarios as it is not a simple as doubling your lot size.

Let’s assume the following:

Account currency is USD
Leverage is 500:1
Starting balance is $100
2 losses and 3 winning trades per week
R:R = 1:1 there let’s say 25 pips
The factor that is often forgotten about- Max lot size 100 and max position is 50
Commission is $7.00 round trip

It will take 184 weeks risking 5% of your account each week to hit a million and it will take an extra 13 weeks to hit 5 million

If you increase risk to 7.5% it will take 113 weeks to hit a million and 121 weeks to hit 5 million

If you increase risk to 10% it will take 81 weeks to hit a million and 87 weeks to hit 5 million

If you increase risk to 12.5% it will take 63 weeks to hit a million and 67 weeks to hit 5 million

If you increase risk to 15% it will take 50 weeks to hit a million and 55 weeks to hit 5 million

If you increase risk to 20% it will take 36 weeks to hit a million and 40 weeks to hit 5 million

Now I’m not saying to have stupid high risk but you can achieve the same results in half the time with 3% risk but you need to think outside the circle. All assumptions stated above stand with the 3% risk scenario. Obviously if your R:R was 2+:1 then the time period would be shorter

Hope that helps

ElliotCooke posted:
Nothing is impossible in this world. You just need complete knowledge and proper dedication to make it possible.

Nothing is impossible but some things are unrealistic

It is posts like this that makes people think that Forex trading is a get rich quick scheme. It is not Forex is hard and a long term investment of time and money

Becoming a millionaire through Forex trading is possible. But it won’t happen overnight. You will have to trade rigorously for several years to become profitable.

The forex market is the most profitable online business. Many people earn a lot of money from this market every day with their knowledge and experience.

Tremblay posted:
The forex market is the most profitable online business. Many people earn a lot of money from this market every day with their knowledge and experience.

Truly said there buddy, but behind the knowledge and experience goes years of patience and practice on demo accounts to build a set of strategies that could get good benefit.

leecopp posted:

Tremblay posted:
The forex market is the most profitable online business. Many people earn a lot of money from this market every day with their knowledge and experience.

Truly said there buddy, but behind the knowledge and experience goes years of patience and practice on demo accounts to build a set of strategies that could get good benefit.

I’d give the trophy to risk management strategies, especially deciding on the entry and exit points before opening the position.

@Anoxiare Whichever risk management strategy you apply, there’s no guarantee against slippage. If there’s one, I’d love hearing about it.

keatonrichard posted:
@Anoxiare Whichever risk management strategy you apply, there’s no guarantee against slippage. If there’s one, I’d love hearing about it.

There isn’t any but yea applying the guaranteed and trailing stops along with limit orders do help in few losses that you can bear, and won’t wipe out your bank account completely. As for me, I use these different stops and limits on different broker accounts.

Ericdier752 posted:
Becoming a millionaire through Forex trading is possible. But it won’t happen overnight. You will have to trade rigorously for several years to become profitable.

Yes. I agree with you. You need to have patience to become millionaire.

Well, it requires years of hard work and consistency to actually come close to becoming a millionaire through forex.

DarkForex posted:
Hi,

Thinking about an idea. If we trade on a broker that has leverage 500:1 and we have 20 consecutive trades with lets say 50 pips profit, can we double lot on each trade?

SL would be 20 pips. So first trade 0.01 lot 5$, 0.02 lot, 10$, if 0.04 lot is loss then -8$, but then we start with 0.02 lot again.

On 20th step, we would be on around 3 mil $ or something like that.

Would that be possible?

You are right. I was able to obtain important results with continuity (40% / month) only after 8 years of work.