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aku11a
2010.11.02 18:49
This is actually a question. What is the fastest way to double your account, even if risk is very high, and bad DD, and all that jazz. Just wondering, like a slot machine, you just put $10 in and in 1 hour you either have $0 or you have $20. What's the fastest, most aggresive way you know of? |
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Principles of Time Transformation in Intraday Trading This article contains the concept of operation time that allows to receive more even price flow. It also contains the code of the changed moving average with an allowance for this time transformation. |
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zzuegg
2010.11.02 18:59
Open a trade with maximum lotsize. TP=100 leave the sl blank. result 1: margin call (more likely) result 2: epic win. |
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zzuegg
2010.11.02 19:05
on alpari with a leverage of 500 you need 300$ to open 1 lot of EurUsd. each pip values 10$ a so you will need to set the TP to +30pips and you will have doubled your account. a margin call you will get at 25% margin level. so if the market goes against you 22,5 Pips you get stoped out and you will have 75$ left. |
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aku11a
2010.11.02 20:19
So.. +30 pips = double account -22.5 pips = loose everything (plus spread, which is about 3pips, so really -19.5 pips ) Thats not bad, I mean it is, but it's not impossible. I was just at the casino last night and put in $20, and everytime I do I remember that you only have a 33% chance of winning...... forex seems to be about that chance as well... |
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zzuegg
2010.11.02 20:27
aku11a: thats not true, if you play roulett (black and red) you have a 49.0526316 change of winnig. (on a single zero roulette) and afaik on blackjack your chance is even higher...So.. +30 pips = double account -22.5 pips = loose everything (plus spread, which is about 3pips, so really -19.5 pips ) Thats not bad, I mean it is, but it's not impossible. I was just at the casino last night and put in $20, and everytime I do I remember that you only have a 33% chance of winning...... forex seems to be about that chance as well... |
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7bit
2010.11.02 20:27
aku11a: So.. +30 pips = double account -22.5 pips = loose everything (plus spread, which is about 3pips, so really -19.5 pips ) Thats not bad, I mean it is, but it's not impossible. I was just at the casino last night and put in $20, and everytime I do I remember that you only have a 33% chance of winning...... forex seems to be about that as well... Read the above post again. if you lose the 22.5 pips you will still have 75$ left, this means lose -22.5 pips -> lose 225$ (plus spread) without transaction costs (spread, commission) it would be a fair chance. Bet only 0.1 lot instead and place the TP at 300 pips and the influence of spread and commission decreases by a factor of ten. You just have to wait a bit longer but 300 pips can happen in two days without problem. Use GBPUSD, it does some nice big moves from time to time. Place the TP at 22.5 pips (or 225) and you have nearly a 50:50 chance. Apply some analysis of the markets before you make your bet and you might be overall profitable |
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aku11a
2010.11.02 20:42
Thanks 7bit that is very useful and interesting, I may try that.. God this seems like an awesome casino game, "Forex Slots"... if you could boast a "51%" chance of winning, you'd sure draw a crowd... Plus, it wouldn't technically be 'gambling' so you could host it in cities/stores where normal casino's are illegal.. |
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zzuegg
2010.11.02 20:52
7bit's post is indeed interesting, should be made sticky for newbis at forex. What you can read from this post is: The bigger the Timeframe/Moves you try to catch the smaller is the impact of transaction costs on your risk reward ratio. Of course the potential profit is much higher on lower timeframes/moves but you realy need a rock solid system to overcome the "house advantage" on this small moves. Of course trading higher timeframes/moves with a solid moneymanagement needs a deeper poked. so my conclusion (which confirms my experience of killing a few small accounts but up to now no big one) is that it is realy hard work to get profitable with a small bankroll. //z |
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1005phillip
2010.11.03 00:09
The lesson to be considered here is that if your strategy can be boiled down to basically being a 50:50 gamble then why bother using forex as your avenue to gambling? |
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aku11a
2010.11.03 00:30
1005phillip:
...it takes knowledge and effort to not take those bets that determines who ends up with your money - you or the other guy who took the other side of your trade.
I just can't see how to be 80% confident in any strategy, it seems like everyone here says that making a profitable EA is impossible, and only a hobby.. That's why it seems like at least a 50/50 EA would last longer than a completely wrong EA I could code...... How are you getting so confident you can say 80/90% you will win?.. |
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1005phillip
2010.11.03 01:00
First of all it starts with setting your expectations properly. I take about one trade per week. Folks who seem to crash and burn expect to churn trades on H1 charts or even smaller timeframes. I say all the power to them but I haven't found success at those timeframes. |