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Rags -to -riches - Business - Nairaland

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Rags -to -riches by ariwaonye: 11:24am On Nov 29, 2013

Fellow Traders,


I profit while others are sitting on their hands...
Every day.

Would you like to join me in having the
Ability to legally "steal" pips from the
Market each and every day, while everyone
Else I know is twiddling their thumbs?

Are you a "Lotto Trader" or a "Realist"?

"Old" thread start



I think it's time to give people my strategy,

This strategy is very good, in trending market.

i trade for a living, now, after years of paradise and hell...

Finally I’ve understood what works for me: little pips, many times a day, with high leverage.

Yes, i know many futures comment, but this worked for me and works every day.

The strategy is about the MM not the system, but i will give you the system that, in the future.

I’d like you to focus on the Strategy MM because I’ve tried many systems with it, and with all of these systems the strategy has worked well.


if you are in the market from some years, you know that scalping and day trading could lead to a beautiful account, but could also lead you to the hell, because of the high leverage.

So from here, i studied a lot, i was looking for a system that could give me good money, and extremely simple to repeat.

I’ve found that taking smallest profit, many times a day, is good, very good.
Do not believe in traditions because they have been handed down for many generations.

Do not believe in anything because it is spoken and rumored by many.

Do not believe in anything simply because it is found written in your books.

Do not believe in anything merely on the authority of your teachers and elders.

But after observation and analysis, when you find that anything agrees with






1) Disclaimer

Before we begin, just know, this is all simple in theory, but difficult in practice.


2) Affordable Risk

Start off with whatever you consider "affordable" risk.

For the sake of this thread we will just say $50.


3) The Mental Attitude


You have to treat it like digging a hole to find the buried treasure. Wins make the hole deeper.Losses make the walls of the hole cave in.


4) Don't Think of the Money, Think About Net Winning Trades (NWT)

When you use a 50% stop loss and 100% take profit, a losing trade will only cause you to lose the profit you made on the last trade. When you scale your leverage down to compensate for the loss, a winning trade will get you back to where you were before the last trade.


This is why you shouldn't think about the money, but think about the Net Winning Trades (NWT).

What is a NWT? It simply means how many more wins you have had than losses.


5) 9 NWT = 100,000% Gain

If you have 9 Net Winning Trades, scaling up after each trade, you will make a 100,000% gain.


9 NWT examples


9 wins 0 losses

18 wins and 9 losses

30 wins and 21 losses

50 wins and 41 losses

150 wins and 141 losses


You get the point? As long as you get those 9 Net Winning Trades, you will make a 100,000% gain.




6) The Math

T1 -Balance $100 - Risk $50 - Take Profit $100

T2 -Balance $200 - Risk $100 - Take Profit $200

T3 -Balance $400 - Risk $200 - Take Profit $400

T4 -Balance $800 - Risk $400 - Take Profit $800

T5 -Balance $1600 - Risk $800 - Take Profit $1600

T6 -Balance $3200 - Risk $1600 - Take Profit $3200

T7 -Balance $6400 - Risk $3200 - Take Profit $6400

T8 -Balance $12800 - Risk $6400 - Take Profit $12800

T9 -Balance $25600 - Risk $12800 - Take Profit $25600


which totals.....


Balance $51200



7) Stop Loss and Leverage

This should be pretty self evident but here it goes


If you use 300:1 leverage, 17 pips is your stop loss. Your target is 34 pips.

If you use 200:1 leverage, 25 pips is your stop loss. Your target is 50 pips.

If you use 100:1 leverage, 50 pips is your stop loss. Your target is 100 pips.

If you use 50:1 leverage, 100 pips is your stop loss. Your target is 200 pips.


cool Image #1 - Digging for Treasure (Net Winning Trades Concept Illustration)


9) Image #2 - Example of a 200,000% gain in 4 days of swing trade the 30 minute time frame


10) What to do after making $50,000

After reaching $50,000 (or whatever you feel comfortable with), you should start trading lower leverage and lower risks. Here is what I would do, but you can do whatever you want.


a) assuming i made the $50,000 profits in 1 year or less, i would be taxed and only have $35,000 to $40,000 remaining (unless tax free)


b) i would take the $40,000 and attempt +to make 20% gains every month, which would give me around $400,000 at the year end, and after taxes i would have roughly $300,000 remaining.


c) now i would reduce my leverage by HALF, and trade the exact same way i traded the year previous. i would aim for 10% gains per month, and at the year end, my profits would be $600,000 with a total balance about $900,000. after taxes remaining balance would be about $750,000


d) the next year i would aim for 6% per month, and double my money by year end to $1.5 mil. repeat for next 5 years and retire (semi retire, i would still trade weekly charts, just no scalping, probably more stock and commodity investments to be honest)



Variation

Using 1:4 RISK REWARD and initial stop loss of $25


Account balance = $50, giving two attempts to get going.


Risk = 50%

Reward = 300% (4 fold)


$50 total, first trade risk $25

Win = $150 total

Win = $450 total

Loss =$225 total

Win = $675 total

Win = $2025 total

Loss = $~1000 total

Win = $3000 total

Win = $9000 total

Loss = $4500 total

Win = $~13000 total

Win = $39000 total

Win = $117000 total


9 wins, 3 losses.


The order of the wins and losses doesn't matter.

___________________________________ ___________________________________ _____________________

Re: Rags -to -riches by ariwaonye: 11:43am On Nov 29, 2013
Aspiring traders often ask me whether or not it’s really possible to make a living trading the Forex market. The short answer is yes. The longer answer is, yes you can make a living trading the Forex market but you have to consistently do a lot of things right. Most traders simply do not yet possess the necessary trading skill, discipline, patience, or realistic attitude to succeed long-term in the markets.

However, this does not mean that it is impossible. You simply have to learn what you need to do to become a consistently profitable trader, and then do it. Easier said than done, I know. But, I am living proof that you can make a living trading the Forex market, and I personally know other people who make consistent money in the markets. So, it can be done. My story has ultimately led me down the path of helping other traders, so let me give you some valuable insight into what it takes to be able to trade Forex for a living…
Re: Rags -to -riches by menacity(m): 5:37am On Dec 01, 2013
Please i want to be a forex trader and i dnt ve much,how can i start n not make mistakes? Thank you,this my email : Menacro@gmail.com .
Re: Rags -to -riches by IRIENBOY(m): 7:40am On Dec 03, 2013
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