Turning $800 into $1 million in 1 year - Page 3
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Thread: Turning $800 into $1 million in 1 year

  1. #21
    Stopped out from the broker automatically at 5pm EST during rollover.

    They left $210 staying.

    Now if there is still $210 from the account, doesn't that imply that there was enough money to cover whatever it needed to cover during swap broad spreads?

    If I am to find margin called, shouldn't the account be rendered with something minimal like $5 or $10, only enough so it doesn't go to negative?

    Why close all trades and leave $210?

  2. #22
    Quote Originally Posted by ;
    Stopped out from the broker automatically at 5pm EST during rollover. They left $210 staying. Now if there is still $210 from the account, does not that mean that there was enough money to cover anything it needed to cover during swap wide spreads? If I'm to find margin called, should not the account be rendered with something minimal like $5 or $10, just enough so that it does not go into negative? Why close trades and depart $210?
    Depends on your broker margin call policy I figure. A lot wont let your account go below a certain%. They do not just stop you at or near zero, its too risky for them at a worst case situation. They see the% acts as a buffer/maintenance level if you like. Though I might be wrong..time to look at the small print.
    Bad luck however. I hoped the news might have helped your positions sooner.
    All the best.

  3. #23
    Quote Originally Posted by ;
    quote Determined by your broker margin call policy I figure. A lot wont let your account go below a certain%. They do not only stop you near or at zero, its too risky for them in a worst case scenario. They see that the% acts as a buffer/maintenance amount if you prefer. Though I may be wrong..time to look at the small print. Lousy luck however. I hoped that the news might have helped your positions sooner. All the best.
    Fxopen website says Margin Call is when margin level is less than 50 percent.

    If I am not mistaken my margin level was roughly 100% before NY closing.

    $500 equity and roughly $470 margin used.

  4. #24
    Not certain what fxopen's current principle is, but that is about less than 5 percent of your balance what is left...
    At there with quite low equity, between entirely paralyzed unable to start new transactions, the midnight widening spread, the triple swap...I believe that you should be rather happy with there is 200$ abandoning at least.
    Sorry, but I don't think with about 1.7 lot receptive, the broker had barely more than 10 pips until a possible unfavorable balance, and you had barely more than a final prayer for a turn for good.

    From past experience made that offer to shoot all off at around 1600$ (100% profit still) take a day off, and reconstruct the positions anew.
    I believe many people had blown up account/s previously, and been there with the feeling to struggle until missing drop of blood or last pennies this case.
    Tough to get back to square 1 after approx 2500$ profit, but envision up that atmosphere from 50k, or 200k, sticking to the plan with and even more reinforced belief which you doing the proper thing, cos it was working that many weeks longer that stage...
    I believe you if try again similar run, you should work in some rules/failsafes for capital protection, or possibly a withdrawal egies at milestones, like each week, etc..

    Anyway, sorry for your loss. Best of luck!

  5. #25
    Quote Originally Posted by ;
    Forget the money, focus on pips obtained, and increase your lot size as your equity grows.

    Making 5 to 10 pips per day is enough if you can make it consistently.

    It's possible to trade with pip value equal to 1 percent of your equity (equilibrium ), so making 5 pips per day adds 5% for your own equity.

    Hitting 5 pips per day is much easier that targeting 50 pips each day.

    Once you hit your daily pip goal, shut everything and leave.

    When your account develops heavily, split it into multiple accounts (rather on multiple reliable...
    golden suggestions, thsi guy gave you think hard about it!!!

    This is what I actually do; you can use high likelihood candles/pattern formation lets say 4 hour/daily charts, target for 5/10 pips set and forget. . Practically sure to hit the target if you take a good signal. .

    Possessing a robust money management in order to realize your target percent and thats all you want. . Well that, and military style subject


    PRO TIP: conceal the balance/running/profit, etc trade window and focus on the chart only; should you trade the right way, money will come, dont worry

  6. #26
    Quote Originally Posted by ;
    quote Fxopen website says Margin Call is when margin level is less than 50 percent. If I'm not mistaken my margin level was about 100% prior to NY closing. $500 equity and roughly $470 margin utilized.
    OK, right.
    But include that stop out is at 50 percent!!
    470 margin utilized, 50%= 235....the 210$ is roughly OK with some slippage...

  7. #27
    Quote Originally Posted by ;
    Not certain what fxopen's current rule is, but this is less than 5 percent of your balance what's left... At there with quite low equity, between fully paralyzed unable to start new trades, the midnight widening spread, the triple swap...I think you need to be rather happy with that there is 200$ abandoning at least. Sorry, but I do not think with about 1.7 lot open, the broker had barely greater than 10 pips till a potential unfavorable balance, and you had barely more than a last prayer to get a turn for good. From previous experience made that offer to take all off...
    Well, the consensus here is that I had been fortunate to still get the $200 left then. So it's better for me personally.
    I am not trying to blame fxopen or something, but just wanted to ask here to affirm if things were right to be this way on the broker finish. I am not one. I know I got to the because I wasn't good enough however.

    In hindsight , I must have stopped or taken a break at $1600. Or if I was over at $3000 equity that occurred a few times. But then how I'd know that what I had been doing was wrong? So, really I do not really waste time looking back at things in hindsight with that I must have done that or this mentality. It is exactly what it is.

    I'd grounds to take those trades, that's why I believed in them and took them. And they were not wrong. Now I improve it and move on.

    Myfxbook claims that my equity summit was 287.38percent yield. That is nearly $3300.

    So I guess that means that I got something, I just have to keep improving it.

  8. #28
    Raphaelfx

    Can't say that losing money is any fun but we do find out a lot from the mistakes we all make. I thought you're correct when you guessed GBPJPY would go back up, but I think you started to waver recently. This is never a good scenario. Made the exact same mistake and took profit at 143.00. Your trading is good and that I do not think you will make the same mistakes again. I have had two margin calls in FX over my entire year. Happens when your equity falls below 5% of your margin, though they only close lowest open positions before your above the 5% again. Wish I had been watching your account to understand how this all went down, seems like a great storm scenario. I'll be seeing to get moves that are following in your thread. The objective is still possible I do not care what anybody else has to say. When its possible to turn $800 into $3000 then there is no reason you can not last to $1,000,000. If it requires two who cares, 1 year is the goal.

  9. #29
    Quote Originally Posted by ;
    quote Trading 4h/daily chart and planning 5 to 10 pips? Whaaaaaaat???? What is the SL if any?
    Think hard and carefully the logic behind it. . And the way you'd manage that

  10. #30
    Only move on brother. Forget about it. Do whatever way you're trading however next time before adding a commerce do compute the margin.

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