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Trading stories - my first 100K!

  • #41
  • Sep 29, 2019 5:00am Sep 29, 2019 5:00am
I did 50 to 5000 in a week, it was luck. most of the time I could flip the account x2 or x3 in a week and bust it in a matter of hrs. total loss is still bigger than my total deposits but not the much. Ive change my targets now. I want to be consistent. I think 3-5% a month compounded profit beats the bank.
Pecuniae obediunt omnia
  • #42
  • Sep 29, 2019 5:24am Sep 29, 2019 5:24am
Quoting PIPot
I did 50 to 5000 in a week, it was luck. most of the time I could flip the account x2 or x3 in a week and bust it in a matter of hrs. total loss is still bigger than my total deposits but not the much. Ive change my targets now. I want to be consistent. I think 3-5% a month compounded profit beats the bank.
You are telling the story of gambling; it’s not the proper way of FX trading!
  • #43
  • Sep 29, 2019 5:55am Sep 29, 2019 5:55am
Quoting PIPot
I did 50 to 5000 in a week, it was luck. most of the time I could flip the account x2 or x3 in a week and bust it in a matter of hrs. total loss is still bigger than my total deposits but not the much. Ive change my targets now. I want to be consistent. I think 3-5% a month compounded profit beats the bank.
Yes my first few live trading days I placed .4lot trades and made $250 A day for 2 days with only a couple of trades and thought I was ready to retire... then the more statistically expected days came... reversals, stagnation, frustration... I think it's better for new traders to not do well to start, to learn that good wins should NOT be expected .. it's very hard to transform from gambler to statistician and money manager...
  • #44
  • Sep 29, 2019 6:07am Sep 29, 2019 6:07am
Quoting hellsbells
{quote} When I started trading well i did it part time and I would place a trade then leave it because I was busy etc. When I started trading full time I thought more time in front of the screen would lead to more profit which was totally false because A) trading the 2nd half of the Asian session is a sluggish nightmare B) the longer I sit in front of the screen the worse my trades become and I become impatient and frustrated. So in theory being back at work with limited time and a better understanding of the markets as well as more experience things...

This was something I read somewhere and it is interesting:
in any job the more time you spend on it the more chances of making more money, but in trading it´s the opposite the more time you spend trading the more chances of losing money.

When we are learning to do this job we need to put a lot of time, but when we are trading we need to be the minimun possible time around the computer.

Regards to all
  • #45
  • Sep 29, 2019 6:09am Sep 29, 2019 6:09am
Quoting NeilWagner
{quote} You are telling the story of gambling; it’s not the proper way of FX trading!
I saw someone turn $200 into $400,000

If you send someone into a casino who knows how to count cards, would you say that's not the right way to gamble?
?
  • #46
  • Sep 29, 2019 6:14am Sep 29, 2019 6:14am
Quoting HRTrading
{quote} I saw someone turn $200 into $400,000
What was the duration to make 400000$ from 200$?
  • #47
  • Sep 29, 2019 6:22am Sep 29, 2019 6:22am
Quoting HRTrading
{quote} I saw someone turn $200 into $400,000 If you send someone into a casino who knows how to count cards, would you say that's not the right way to gamble?
i count the pips, does that count ?
  • #48
  • Sep 29, 2019 6:22am Sep 29, 2019 6:22am
Quoting NeilWagner
{quote} What was the duration to make 400000$ from 200$?
Around 2 months
?
  • #49
  • Sep 29, 2019 6:23am Sep 29, 2019 6:23am
Quoting ionone
{quote} i count the pips, does that count ?
Yes, pip counting is one of the oldest trading styles
?
  • #50
  • Edited 7:16am Sep 29, 2019 7:05am | Edited 7:16am
Quoting Casiopea
{quote} This was something I read somewhere and it is interesting: in any job the more time you spend on it the more chances of making more money, but in trading it´s the opposite the more time you spend trading the more chances of losing money. When we are learning to do this job we need to put a lot of time, but when we are trading we need to be the minimun possible time around the computer. Regards to all
LOL, that doesn't even make sense, LOL. Really funny

When I switched to Forex trading and realized my stock option strategy was not going to work, I spent 10-12 hours a day, 7 days a week, for 6 years (about 20,000 hours) developing a strategy that would work. Then I tweaked and modified over the years since then. Now, I just trade it and do not work on the design anymore, though I do change colors from time to time, and the message on my alerts, lol. If I had decided NOT to do all that work, like you suggest, then I would not be where I am now. I think the total opposite, because I have played sports and I have had several different jobs where I had to learn how to do them and I have studied many different subjects in and out of school. Without any effort, there is no mastery, so again...you are funny, lol. I hope you do not actually believe you can ignore trading, or anything else in your life, and find success.

As for the time I spent on trading, it was similar to Edison's quote about the light bulb. He said he didn't fail, but instead found 10,000 ways that didn't work. I found the things that didn't work, and the things that did, and voila. For sure it was advantageous to be well-schooled in math and science, and to have 10 years of experience as a business consultant, because those skills help me develop hypotheses to explore and define my goals. If I had ignored doing the work to become a better trader, lol, well, I don't really even have a comment for that, lol, other than it would still be driving me crazy and I would be wayyy behind. However, I do agree a little. Sometimes I spent my time thinking rather than working on charts. Have to have a plan. Good Luck
You cannot be extraordinary by being normal
  • #51
  • Last Post: Sep 29, 2019 7:16am Sep 29, 2019 7:16am
Quoting dkrock
{quote} LOL, that doesn't even make sense, LOL. Really funny When I switched to Forex trading and realized my stock option strategy was not going to work, I spent 10-12 hours a day, 7 days a week, for 6 years (about 20,000 hours) developing a strategy that would work. Then I tweaked and modified over the years since then. Now, I just trade it and do not work on the design anymore, though I do change colors from time to time, and the message on my alerts, lol. If I had decided NOT to do all that work, like you suggest, then I would...

Quote
When we are learning to do this job we need to put a lot of time, but when we are trading we need to be the minimun possible time around the computer.

I think that we see it the same way

Nothing comes without effort or sacrifice
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