BluePanther's Posts - Page 56

From $1 to 10 million in New Traders Dec 31, 2013 at 14:28

I saw the website for Pip Spring and its slogan is "Massive Forex Profits". When I read this it reminded me of this thread, and I see how it supports Rihan's topic. Too many scam marketers out there that use the possibility of big gains to sell their own "shit", which turns out to be no better than other "shit".There is truly a killing to be made, but the marketers have no clue how to achieve this. They either: 1. knowingly deceive new traders into buying their crap, or 2. truly are deluded in thinking that their crap is "serious money" stuff @5% per...

IC MARKETS REAL 313166 in Trading Systems Dec 30, 2013 at 08:36

...make that AUDUSD and EURCHF. The margin used was too small so I think another pair can't hurt (hopefully!)???

IC MARKETS REAL 313166 in Trading Systems Dec 30, 2013 at 07:56

I was meddling with the settings to try to prevent a repeat of EURUSD, but I didn't fix one of two settings, which meant all positions for XAUUSD were closed for a loss of $-2000.Positive: at least I know that setting refers to the pair loss only, not all open positions.Negative: that was 20% loss in real money.I have decided to reduce my risk and use the EA on ONE PAIR ONLY: EURCHF, but at my custom smaller grid settings. I know I had $10,000 with four pairs and turned that into $25,000, but I think I was simply lucky the market was ranging right at the time.I need to find the optimum set...

IC MARKETS REAL 313166 in Trading Systems Dec 27, 2013 at 11:30

Guess it was looking good up until about yesterday / this week. I had a hunch I shoulda closed all trades earlier, but I didn't take it. So, as with other grid martingales, they work well for a month then a strong trend hits and they get hammered. I hoped I had enough margin and low enough risk to weather any strong trend, however the EURUSD kept increasing (and GPBUSD to a lesser extent) and despite manual intervention I could not sustain the losing trades.Available margin has been $-1000+, so I have decided to use a script to close all open trades. My balance returns somewhat to a level ...

IC MARKETS REAL 313166 in Trading Systems Dec 26, 2013 at 07:47

My main aim is to make 10% per week with my margin level (risk) at a minimum of 100x (10,000%). During today's USDJPY movement, "margin used" reached as low as 350% (3.5x available margin) - too low for my comfort! As the market moves and trades are opened / closed, my margin level is fluctuating wildly between 12,000%+ and 2900% (or less). I am contributing my wages to increase available margin in my account, but it is slow going.Using a spreadsheet, I have calculated that at 10% per week (compounded), and contributing $2000 a fortnight, I will end up with $2 million by December...

IC MARKETS REAL 313166 in Trading Systems Dec 26, 2013 at 07:32

Reverse grid martingale. As of 19 December I reduced the grid to 5 (pips?), martingale has always been 1.11x, and all trades have been against the trend. Basically counts on trading the pullbacks / retracements in the market, especially since the market moves in cycles.Been okay, except the recent jumps with USDJPY - I had to manually intervene as I didn't like the high drawdown, though the market and positions worked out today (luckily). I've a mind to take this one off my pairs as I am not keen on its high volatility (love the profits, hate the risk).I don't know why but I didn&#...

From $1 to 10 million in New Traders Dec 25, 2013 at 00:30

And perhaps only my ego is offended when folks like Rihan make lame joke threads like this, in a futile attempt to justify their erroneous perception of reality by garnering support from other short-sighted nubs. Of course, I will have the last laugh by savouring my success in the face of all my critics. 😎No offence intended, I am simply telling the situation how I see it. 😀Nubs, feel free to join in the "slag-fest". I will sooner prove you wrong. 😎

From $1 to 10 million in New Traders Dec 24, 2013 at 23:39

I find others' assumptions about me amusing. Let me say this:Right now I do not feel "sympathy pains" for myself. I do not consider myself "the victim", despite my scam experiences (unrelated to forex I might add). I made some poor choices, but they have only served to harden my resolve to succeed. I am unashamedly stubborn and arrogant (and proud of it! 😉) and the more I am discouraged or fail, the harder I try. "Where there is a will there is a way".Later, I am sure people will also make assumptions about my financial success and attribute that to my...

From $1 to 10 million in New Traders Dec 23, 2013 at 07:10

That this thread is a lame joke is exactly what you said and how you have treated this. I considered this to be a serious topic, and you can see that from the posts I have made."When you judge another, you do not define them, you define yourself." - Wayne DyerI guess then there is nothing more that I should say. This is your thread, and you are welcome to direct it as you wish. I simply thought my contribution would be beneficial to all. Thank you all for reading my posts and I hope you all enjoy many green pips!

From $1 to 10 million in New Traders Dec 23, 2013 at 06:44

@Rihan : As your last response seemed directed at me, I guess I should do the courteous thing and respond. But I will not sink to your standards and simply attack you as a person - that is not why I am here, nor why you should be here either (so why are you here then?).I will just say: this speaks volumes about your character. I'll let my success be the judge of me. 😎I'll leave you with some quotes in case you need motivation to get started Rihan. Hope you succeed some day!> Men succeed when they realize that their failures are the preparation for their victories. - Ralph Wa...

From $1 to 10 million in New Traders Dec 22, 2013 at 18:19

My willpower to take such risks stems from my mindset that I have nothing to lose and everything to gain:“It is easier for one to take risks and to chase his dreams with a mindset that he has nothing to lose. In this lies the immense passion, the great advantage of avoiding a materialistic, pleasure-filled way of life.” ― Criss Jami 😎I fear nothing except fear itself... and a healthy fear of God.It helps that I have no one I need answer to except myself and God.

From $1 to 10 million in New Traders Dec 22, 2013 at 13:39

I invite you to take a look at the statement. It is a real money statement, not a backtest. Simply because there are only three months included is no reason to assume that the account failed immediately (or any time) after.I am glad to see you are opening your mind to the possibilities...! 😉 Just don't go buying the next program out there promising huge returns until you have done your "due diligence"! 😝

From $1 to 10 million in New Traders Dec 22, 2013 at 13:22

Apologies to you. Actually you are right in that sense. Even though the instructions request you enter "years", the field is labelled "period" and therefore when you look at it you can use it for a monthly calculation. You are correct. 😎eg. 50 years = 38% pa / 12 months = 3.17% per month. But on a compounding basis that would certainly be 2.72% per month.I still disagree with your original point though: You said 'Making 10,000,000$ out of 1$ is not easily achieved not in even 50 years. To make 10,000,000 the trader would need to win consistently 2.72% every mont...

From $1 to 10 million in New Traders Dec 22, 2013 at 12:20

On the calculator, please read the description carefully:"To use the calculator, begin by entering the value of your investment today, or its present value, into the "ending value" field. In the field for "beginning value," enter the initial value you placed into your investment. Finally, enter the number of years that you were invested."Number of years = 600? No one will be around that long so it makes no sense to use 600!-----------------------------------------------------------------------------------------------------------------------------------------------...

From $1 to 10 million in New Traders Dec 22, 2013 at 07:10

@ahuruglica : I like your documentary "Mind Over Money". But it focuses a lot on the small trader's psychology and blames the public, when in fact there are bigger players that influence the market to the extent of the Great Depression and Global Financial Crisis of 2008. Do you think it possible that GFC 2008 was used like the Great Depression to steal the wealth of the middle class and for other subversive motives? Just remember the Federal Reserve and all central banks of the world are private banks, and then look at the results of their actions (eg. quantitative easing, inter...

From $1 to 10 million in New Traders Dec 22, 2013 at 04:47

@c3po : True, most pps would start with more than simply $1. But from $1.00 to $1.01 is a 1% gain - NOTHING in forex!@ahuruglica : You said "Making 10,000,000$ out of 1$ is not easily achieved not in even 50 years. To make 10,000,000 the trader would need to win consistently 2.72% every month for 50 years which is harder than to going to the Moon (the technology to go to the moon exist)."I politely disagree. I have used a compound annual growth calculator available at http://www.investopedia.com/calculator/cagr.aspxMy results: From $1 to $10million in 50 years will require a compound...

From $1 to 10 million in New Traders Dec 21, 2013 at 00:32

...and maybe if you haven't "made it" you need to prove to the world (and yourself) that you are right? Each to their own opinion, however the fact that it IS possible makes everyone try, yet only 1% succeed. 99% fail as they attempt once and give up, and then spread discouragement to others in order to try to prove they are right, and that forex is simply gambling or a scam.You are obviously frustrated at your lack of success, however please don't discourage others by making lame joke threads. Everything happens for a reason. People fail because they need to learn something....

From $1 to 10 million in New Traders Dec 20, 2013 at 23:44

Thanks for your honest opinion too, Ardit."Forex is not a get rich fast scheme" - allow me to clarify with my opinion please:1. You can get rich with forex FASTER than working for your money.2. As quickly (or faster) as you can make it, you can lose it. Eg. if you become a millionaire overnight, you can just as quickly become a pauper in a day. 😎So back to the topic of this thread: how fast are we talking about turning $1 into $10 million? Because in fifty years this is "easily" achievable, yet in 24 hours this is nigh impossible (without taking MASSIVE risk)!

From $1 to 10 million in New Traders Dec 20, 2013 at 22:40

Will power and courage are all good, but mean nothing without "knowledge" and "experience". 😎Mistakes are there to be learnt from. I solemnly tell you: had I been successful from the very first account, what would I have learnt? NOTHING! 😉

From $1 to 10 million in New Traders Dec 20, 2013 at 22:11

Understood. But in your parable, the son was a gambler. Forex is not gambling, provided one uses correct risk management and follows a system correctly (manual trading).I am not manual trading, so the only thing I have to concern myself with is correct risk management."reasonable objectives"? I have one thing to say to disbelievers: Ice Cube 😎http://www.youtube.com/watch?v=xTVjUaszyQ8 😉

EURUSD	1.04254	GBPUSD	1.25793	AUDUSD	0.62163
USDJPY	157.908	USDCAD	1.44144	USDCHF	0.90229

Posts by BluePanther