http://wholesaledress.mobi/img/ask_maggie_1.pngOriginally Posted by ;
Was reviewing some of the items within this thread and it caught my attention:
You know what? Perhaps you're right, but there is a pretty good chance I could, if I was able to visualise it being the same as it was when it was only 30cm off the floor. But because of inexperience, my nerves / subconscious might get the better of me and make me hesitate, shout, etc., although not always collapse. 95% of people might. (There is that exact same damn random(?) Number again.) ;--RRB-Originally Posted by ;
Now, back to trading - when I re-started my trading plan a while back, I had no difficulty getting from 100 to 400 with continuous and fairly consistent profits. But once I decided I didn't wish to wait to allow the account grow, I decided to bring another 1k for it. Suddenly, that week became one of the most awkward I had to address in long time, but I recovered my composure (and refocused on my trading egy) and ended up having a positive outcome.
I believe one of the major factors linked to my initial behaviour that week has been directly associated with subconsciously knowing that I had more funds and thus could put more transactions on. . .and not using the exact same thoughtful timing or planning since I had previously. Or maybe I was overconfident that I could allow some transactions go 'just a little further' to profit, simply to see them fall back and hit my considerably lower TPSL(make profit stop reduction - do folks simply call them SL's?) . Perhaps I fell to a gambling/higher risk mindset thanks to a bigger capital amount? Who knows. All I know is that it was a surprise and a good wake-up call for me personally.
In any case, I moved forward from there and continued to have great results, together with my account sitting just under 1.9k. I'm back to trading with the exact same risk ratio I had when I was trading 100 (or really, just slightly less, to ensure I stay comfortable) and making similar % profits on my account.
When, not if, my account develops to 3k, will that be a shock? No, I do not think so.
How about 5k? 10k? 25k? 100k? It will all be comparative and therefore I will know that the 'risk' I'm taking resembles a hell of a lot more than that I exchanged previously, but really it's precisely the same. Secondly, as I've gotten accustomed to seeing such numbers (even people in the red), then I will have acclimatised myself to manage the account the exact same manner as I'd done previously (and profitably).
So, back into the board analogy - I'm now treading the board fairly readily 20x 'greater' than it was before, so that is 6 meters off the floor. . .and no concern about falling. (I also only need to raise the bar only 17x 'greater' and I'll have literally proved you wrong, together with 32k in the bank) ;-)
Nice one. That's the way to do it, slowly and surely .Originally Posted by ;
Nice post, I dont understand why folks say you cannot start with a little account.When infact you should start only with a little account since the first time it may not work out as well.So could it blow up a few accounts before studying the lesson, nobody could get it right at the first time.But using an increasing number of experience traders become unstopable.Originally Posted by ;
Should you start with 100$ or #8364; then with a good 1% or 2 percent risk you could theoretically reach 1 million $ or8364; at a year If You're Able to trade really well.Just consider it, even If You're Able to make only 1% increase daily then you can hit 1340.88$ at a year, 17979.72$ at the second year..., along with your balance grows almost exponentially
But the person who will make 1% steady growth each day can perform 10% just as Simple, by investing more pairs, every broker provides atleast 50 pairs to exchange, so everyone can select enough of them to trade.Instead should you earn 10% increase daily, then by the end of the year using a 100$ account you would get exactly:
6,292,529,348,567.53 $ 6.2 trillion$
formula of growth rate: initial capital * (1 growth percent/100)^times
=100* (1 0.1)^260.887285 (typical tradeable times in a year)
Useless mental bliss, but I suppose everybody has to go through the I theoretically can make a trillion dollar Phase. Been there too. Focus your energy on risk reduction and loing an edge instead.Originally Posted by ;
I do, but a mental exercise is always great to find the route in trading.Besides you might think the numbers are absurd but the funny thing is that this can be achieved if you simply have a little bit of edge.The challenging part actually isn't to make 1 billion dollar, yet to make even 1 dollar consistently every day.Because if you're able to make just 1 dollar consistently every day exactly the same way you are able to make 1 billion dollar.Originally Posted by ;
So yes I agree with you everyone should emphasize on finding an edge, but risk reduction isn't the way how you do it since risk is directly tied to reward, so if you reduce risk you will reduce reward.Instead you must increase the accuracy of the machine, or atleast the expectancy of profit.Without these raised, nobody can achieve a holy grail.But if you increase it only enough to get a minimal edge, then you are a billionaire.Its just straightforward as that.
No it's happened before, I was predicting banks would neglect 10years back ago I guess, I was not expecting them to acquire huge bail outs that's the bit that hasn't happened before.Originally Posted by ;
Zimbabwe, had problems, inflation in the 10,000 percent area or something dumb, loaf of breading costed 1 whatever they utilize, going to 1Mil in the space of a year or two, eventually it settled, they revalued all of there money, reprinted it, the more debts that had worth billions, stayed the same and when a loaf of compacted prices 1Mil, billions are nothing and basically all that happened was there devalued there debt and paid it off for the price of a few sandwiches and carried on regardless.
Turv, in case you've got no idea about what is happening - no purpose in trying to suspect...Originally Posted by ;
The site on that picture has pretty good explanation of alll that stuff...
No it was 10 years before, the guess is how long ago I started telling folks it'd occur.Originally Posted by ;
Looked wrong to me, but not an economist.
Well, it will. Not that early though.Originally Posted by ;
Some men estimate it not later than 2020 others say 10-15 years at most. The latter I believe to be realistic. There's enough evidence proving it is inevitable and bound to happen in this period. I gave the site...