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Mega Money Madness!!! (£100 Account)

  1. Thought I'd start a new one as I've opened an Oanda account with £100.Still get the buzz but no threat of financial armageddon.I'll take it seriously this time.Intraday swings/scalps and maybe a few position trades.Aim is to make £5000 in the year.Again,if you're entertained visit my thread in politics and religion.
     
  2. huh, speechless
     
  3. All you have to do is make 1.8%/day compounded over 220 days. So ur first days target is only $1.80!
     
  4. And you label the journey Mega Money Madness?
     
  5. It'll be fun without any worries.£5000 was too much to 'advertise' my thread but this is still value for money I think.
     
  6. I too opened an OANDA account, but with $100 as opposed to £100—my aim being to end each day with a profit to see where that put me at the end of one year (be it £5000 or whatever). However, I had to zero my balance in order to purchase Christmas gifts for ALL of my extended family members, so perhaps I can sell some of the gifts (on ebay) that I received which I would have never requested for myself in order to replenish my account and continue my quest—God willing. I’m very curious to see if this thread lasts or if you abandon your mission before the year is up. As for me, I have 100% confidence in my system, so I am determined to see this plan all the way through to the other side, provided the Lord does not lead me to do otherwise, of course.
     
  7. Best of luck.
     
  8. In a previous incarnation 'a friend' might have lost a fortune through (his own foolishness) by following and giving it away in other areas of life too.Just terrible timing for him to be an aspiring trader at that time (and gullible. He had an unusual life situation he was trying to escape from).I don't think any discrete 'method' will work.The market is a perfect grinder of edge.However,business needs to be done and humans have emotions and there are economic beliefs that are manifested into laws and rules by those who govern us.You can make money in stocks because of the drivers.You can be an options seller at certain points.I like 'trading' but I don't think I'll get rich again doing it.I missed bitcoin too lol.This is a stress free fun journal with play money that hopefully will get me to pull my socks up and get (more) automated.Because of my faith I'm not worried about riches anymore too so it's all good.
     
  9. I lost my hard earned $6000 because of the bloody Greeks Back in 2011 LOL

    effin idiota bought 3 times into the falling knife in EURUSD

    then because i coudn't hedge i sold 3 lot position locked in minus and reversed.

    then instead of holding when bottomed i sold

    what an idiot , hahahaha
     
  10. All you need is a relatively incredibly small account to get the ball rolling -- Assuming... you truly have the skill and experience and wisdom and luck and mental character and fortitude and system/plan in place.
     
  11. £100.67 (£0.45 just now).Might have to move to daily as I can't be stuck doing this all day.
     
  12. £100.95
     
  13. Was out all morning.Too late in the day to trade. £100.98
     
  14. £101.68
     
  15. £102.21
     
  16. £102.65
     
  17. Poco a poco se va lejos.
     
  18. It's not worth doing unless you're automated or daily+ timeframe.My friend was just supremely unlucky to join at the same time as that now gone from here.I've got a data feed so save sierra chart etc.Good gambling at budget prices plus advert for my thread.
     
  19. No activity this week? Does the above mean you're all done? If so, too bad. I was looking forward to watching you make 1.8% a day compounded over 220 days until you had £5000. (I guess I'll have to try it myself if I want to see if it really works.)
     
  20. If
    If comingkingofisrael is going to abandon this thread, I’d like to see what can be accomplished by starting out with $100 and making trades in the amount of one micro lot (0.01 of a standard lot) with a maximum of two positions simultaneously open at any given time.
     
  21. Just do MGC! Why is this concept so difficult for everyone to understand?
     
  22. ScreenHunter_6957 Jan. 14 15.10.jpg

    And so the odyssey continues...
     
  23. ScreenHunter_6958 Jan. 14 18.03.jpg
     
  24. DANG!!!

    EURGBP came like a single pip away from hitting my take-profit target!

    EURGBPM1.png

    It looks like the Market Makers are up to no good, so I locked in some profit while I had the chance...

    ScreenHunter_6972 Jan. 14 22.12.jpg
     
  25. I was hoping to get back up to $4.00 by buying EURAUD at 1.5390, but unfortunately, I was asleep when that happened.

    ScreenHunter_6984 Jan. 15 02.37.jpg

    When I purchased AUDJPY, AUDUSD took off, as NZDUSD did after I bought NZDJPY—not to mention CHPJPY after I bought CADJPY. EURGBP shot up to my take-profit target after stopping me out, and GBPJPY did the same. (The pairs seem to be conspiring against me, but I won’t let that dissuade me! I’ll go to bed now, and see if I can perhaps get to $5.00 or more during the New York session, God willing.)
     
  26. ScreenHunter_6986 Jan. 15 15.49.jpg

    I had to totally shift my focus over the last 24 hours to that of conducting an information gathering exercise. (That’s an awful lot of trades executed by me to only show a buck’s worth of profit!!!)

    For throughout 2016 and 2017 my approach to trading was to reap profits of approximately 5 pips at a time, executing trades that typically had a 1:2 reward-to-risk ratio.

    I was able to get away with this “sin” because my daily success rate tended to be 90% to 100%.

    However, I am now interested in seeing each micro trade averaging around $2.00 rather than three to five dozen pennies in the hopes that my daily return on a $100 trading account will be a minimum of $5.00 per each round of sessions (which I believe to be well within the realm of possibility) and because I’m doing other stuff while I’m trading now and can’t be entering and exiting trades all the time.

    But it would appear that because of all the “funny business” going on and whatever “shenanigans” the market makers are prone to engage in, I was stopped out of several of my trades last night and this morning, even though every single one of the assets I traded ultimately went on to hit my take-profit targets.

    Consequently, I’m planning to see what happens if I make it standard practice to set my stops and targets 30 pips above and below the indicative price to ensure that the instruments have enough breathing room for market makers to manipulate rates in whatever way they like without stopping me out of my positions before my take-profit targets are finally reached. (I will also be entering at key levels rather than waiting to rejoin dominant trends following temporary pullbacks so that I will be better positioned to avoid stop losses while at the same time maximizing the ease with which I might reap 20 to 30 pip gains.)

    If my forecasts are as reliable as I believe them to be, perhaps I can eventually get away with a 2:3 reward-to-risk ratio, which seems plausible to me if I have an 80% success rate or better—even though this goes squarely against the conventional wisdom that demands professional traders accept nothing less than a minimum 1:1 reward-to-risk ratio.

    (Doing so would allow for enough “play room” to avoid being repeatedly stopped out of my otherwise winning trades, but make it much more likely that virtually all of my targets would be hit within a single 24-hour market cycle.)

    After writing all that, I really do think it’s going to be easier and much more reliable if I can go back to micro managing 5-pip guerilla trades for immediate returns that might begin to add up even faster now, thanks to some enhancements I added to my lower time frame charts today.
     
  27. Trade MGC. *puff puff pass*

    You can do better man.

     
  28. Oh yeah…sure…things are looking a bit better now that a few of my take-profit targets have been hit thanks to the next round of sessions having begun with the opening of the Sydney and Tokyo markets. But bear in mind that if I were still trading a maximum of two pairs at a time rather than gathering information (the most possible with a $100 trading account) I probably would have added only another dollar or so depending on whether I was lucky enough to happen to have selected the “best” pairs, and note that I was stopped out of USDJPY, so if that happened to be one of the pair’s I chose, I could have actually ended up losing money.

    ScreenHunter_6987 Jan. 15 16.40.jpg
     
  29. Interesting how this was comingkigofisreals's thread, and it has now become expiated's thread (due to the postings.) Fascinating captain!
     
  30. Does that mean he's a Pirate? Arr mateeeh! Shiver me timbers... I'll pillage yar thread ya scurvy swab!

    I think it has happened before :)
     
  31. It has happened before. They get hired by Fed-Ex all the time! Quick shipping across all threads! Arg!

     
  32. Scalping is pretty much the only option during those hours when there is low volatility and the market is rather lacking in liquidity/momentum...

    ScreenHunter_6990 Jan. 15 22.06.jpg
     
  33. Bit busy.I went down to £93 then up to £95 something.If I automate it I'll post daily.
     
  34. Best of luck!