Thread: Experiment: $100 to $1,000,000 USD in 155 Steps

Originally Posted by ;

Hey mrmikal,

I know what you mean. I am sure this will become more of a subject once the account grows to that size. I will definitely be wanting to visit with the area, speaking to someone and be informed me my money is safe. I will give 'mad props' to FXSOL if this works out.

It's nice that you put once the accout grows and not IF the accout grows.

Originally Posted by ;

It's fine that you put once the accout develops and not IF the accout grows.

STEP 6: COMPLETED (6/02/06):
4,000 B 1.2807 - S 1.2815 - 8 pips
4,000 B 1.2810 - S 1.2814 - 4 pips
4,000 B 1.2821 - S 1.2833 - 12 pips
Remarks: Looking at the charts wishing I didn't Possess the limit order Set up earlier today... but Obtainedta Adhere to the plan

Profit: $9.60 (0.40/pip)
Preceding account balance: $160.13
New account balance: $169.68 (gained .03 in premiums)

I do not want to be a naysayer. I know the mathematics - this has tried. You will see and uncover the issues very fast. Do you truly know what averaging 24 pips/day means? I will not spoil the fun because I would like you to detect it.
By the way, ever heard the story of the poor man asking as his reward from the rich man, only 1 penny each day but awakened each day for the whole month of May? The rich man laughed in the poor man's low self esteem. If he had to hand over $ 6 million to the poor man, he wasn't laughing though on the 31st of May.
Math FX can be complied.

Originally Posted by ;

Certainly I don't want to be a naysayer. I know the math - this has tried. You will see and uncover the problems really fast. Do you know what averaging 24 pips/day means? I will not spoil the fun because I would like you to detect it.
By the way, ever heard the story of the bad man asking as his reward from the wealthy man, only 1 penny each day but awakened each day for the whole month of May? The wealthy man laughed at the man's low self esteem. He wasn't laughing on the 31st of May, if he needed to hand around $6 million into the bad man.
Math Foreign Exchange can be complied.

That is odd. . .must happen to be on a wierd calendar

On the 31st day in may, Rich man would pay poor man $10,737,418.24 to get a entire payout of $21,474,836.47 in may.

Yes sir, you are correct! I didn't say $10M! However, I think you may get the point. By the way, my point was that it's lot harder than it seems to create 24 pips per day - a average. Forex brokers are extremely smart cookies.... I didn't say they are true blue but they know a few things that newbies don't. For example -- stay away from 400:1 leverage.

lol! I finally figured out what was causing me to loe something peculiar about the whole thing. I said I did not get something right. .

I mean, with 400/1 leverage, how could anybody keep such huge stoplosses and not get burned the minute the market turns from them? I personally though 400/1 is sensible suicide, but it depends on how you view leverage.

And it struck me, I appear to have misunderstood you concerning leverages. How I use leverage is by taking a look at the total ammount in play compared to the balance. Consequently, if I had a 3K account, entered for 30K $ which requires (for my own broker) 300$ margin, an official 100/1 leverage, I consider it as being a 10/1 leveraged commerce, since 10/1 is the branch between my 3K account and 30K in play.

And seeing how you use 4.000$ in your trades when your balance was 150$, in my own opinion a 400/1 leverage will be 60.000$ commerce. You were taking 4.000$ trades which imho would be a leverage of 26.6666... / 1

no wonder that I did not understand it. Everything depends on how you calculate leverage. . I kept thinking with 400/1 there's something definately weird happening with such long stop losses. .

I was most likely the only one not getting it. lol!

L.A. lt;- feeling rather dumb now

Originally Posted by ;

yes, you are correct! $ 10M was not said by me! But I believe that you may find the point. Incidentally, my point was that it is lot harder than it initially seems to create 24 pips per day - a continuous running average. Forex brokers are extremely smart cookies.... I didn't say they are blue but they know a couple things that newbies don't. For example -- remain far from 400:1 leverage.

Hey ingestion, thanks for the input. I am sort of amazed that I've managed to pull in 24 pips per day so far with 6 steps over a period of 7 trading days. On my very first article I said that some steps (24 pip intervals) could span out about 3 days. Hell, they could span out even more... the whole structure here is not about hurrying to 1 million (even though it's fun to consider), it is about after 155 24 pip intervals and increasing lot sizes so.

Some of those issues are pointed out and they're limitations with the broker. The reduction of 400:1 @ $100k account limitations, and equilibrium on lot sizes which could have me opening 3 replie lots at some point simulating one. I really don't see 24 pips per day as a limitation because, if it is, I could just shoot for 2-3 years in length if I needed to and just get 1/3 the amount of pips.

Maybe it is just luck, but I have not had much of a problem winning with ease thus far. We'll see how long it continues.

Here's the account balance taken and stats to date:

Number of trading days into experiment: 7
Steps performed: 6
Pips gained: 144
Original balance: $119.25
Current balance: $170.00
Complete gained: $50.75
Percentage increased: 29.85%

Only a fun fact...

At current pace the experiment will be completed December 22, 2006 (merry christmas!) :