How I turned £3000 into £20,000 in 6 Weeks

[fwloop]

Hi Aston1st,

So how are things looking for you now, is this strategy still working for you?

-S

 

[COINMOUNTAIN]

" A man can have all the money in the world - but if hes stuck in the desert, hell swap all those riches without hesitation for a glass of water " ... !!

hi
As someone who once made £10,000 in a day followed by a loss Of £30,000 a week later know how you feel
I tend to trade small amounts now.
What is your precise entry points on trades
i tend to go for 30 pips a day max on indices and Fx.
Always willing to learn, my email is [email protected]
Michael

 

[Aston1st]

Hi Aston1st,

So how are things looking for you now, is this strategy still working for you?

-S

I have recently built up a small grub stake which means I can trade once more. I have also changed brokers so shall wait a month or two then keep you guys posted.

 

[Aston1st]

I stumble across your thread by mistake, I usually don't read or make any contribution on this board and as you can see that's my first post here. But I always like to read story like yours, it just put a smaile on my face bc I have achieve the same performance like yours but different numbers and different market,currency.

I quoted especialy this post of yours bc it scared me like the hell.....it was like reading myself into your story

the problem and the solution I've adopted are the same you described

hope I did get you right on this, otherwise we me talk different things

But I've gone one step further and added on more adjustment:

As my account grows up I've been added a "Catastrophic level"(based on my risk appetite) and when my account balance drops below that level I bailout no matter what price does and close all my open position. that "catastrophic level" grows up directly proportional with my account grow.

Maybe you personality won't be in compatibility with this minor adjustment and you will encounter resistance to follow it, you must get it in balance with your inner self so to speak in other to work for yourself, hope I'm making any point here.

But I thought to share it with you due to so many similarity between us

all the best!

Thanks for your post.

Adding to even more of how you protect yourself, or Good old Money Management.

I have added an element now whereby on profitable days I split my Winnings into three:

1/3 Remains in the active trading account

1/3 Is placed into a reserve account - Up to a set level

1/3 I pay myself

Taking the money out of the active trading account insures that when you hit that flock of "black swans" no matter how bad it is it will not affect your Reserve Account.

Also I highly reccommend: Tweles and Jone's " The Futures Game" - Who Wins Who Loses and Why? with particular reference to the Chapters "Risk, Reward and YOU" and the "Money Management" .

 

[Aston1st]

Aston1st, I am just wondering, would you consider to share your strategy?
I am curious how complicated a nice profitable strategy can be as I haven't created/found a good one which suits my personality yet. So I just want to see what to expect.
Thanks

Strategies are like Suits.

A Bespoked Suit always looks feels and wear's better than one off the peg!

Therefore in order find a good one which suits your personality.

You have to work out your own Strategy for it to feel right for you.

 

[COINMOUNTAIN]

Your quite correct, the main problem in trading is fear v greed.
I aim for 30 pips a day and either stop once achieved or cut my stake after achieving it.
if its a bad day once 30 pips lost thats it for the day.
I also believe that once you achieve a comfortable per pip amount mine is £20 to £50 max i'm happy to stop once target made.
In the Uk there are many spreadbetting companies and spreads are small. I seldom keep more than £10,000 in the account.
good luck

 

[Skanza]

Thanks for sharing the info! I'm a noob to this whole thing, and this provides good reading material, and maybe in a few years I'll finally be ready to trade live.

I'm very keen to find out how you are doing in the coming weeks/months! Please keep us updated!

Cheers

 

[COINMOUNTAIN]

skanza,
your best bet is to read up a lot of the different methods and by all means demo trade.
Eventually you have to take the plunge and trade real money and its totally different as ALL traders
will let you know.
good luck

 

[victor_db]

Strategies are like Suits.

A Bespoked Suit always looks feels and wear's better than one off the peg!

Therefore in order find a good one which suits your personality.

You have to work out your own Strategy for it to feel right for you.

True true. :idea:

Thanks and keep us updated how you progress.

 

[Benjam1n]

He's right, you have to get incredibly lucky to build an account that fast and he knows it. He's just cheating variance and was smart enough to realise that. You could try trading that way but chances are you'll bust an account numerous times trying.

What does it mean to cheat variance?

 

[Splitlink]

Except he went bust numerous times, had a massive ego and blew out his brains. He was just very lucky.

Really?

 

[stevespray]

What does it mean to cheat variance?

Imagine that you have £10,000 and you head into the casino. You stick the whole lot on 'Red' and it wins. You now have £20,000. You take the whole lot and stick it on 'Black' and it wins again. You now have £40,000. You can see that this would not be impossible, it's a plausable series of events. However it is not sustainable in the longer term. Sooner or later you'll lose the whole lot. However, in the meantime, you have £40,000 which represents a £30,000 profit or 300% return on your initial investment. Now, given that the game of roulette is a game which gives a slight edge to the casino, doesn't mean that the players never win or have a series of wins just like our chap who now has £40,000. In this situation our player could be said to have 'cheated variance' (in the context which the original poster made the comment). Technically it is not a 'cheating' of variance as such, it's more a case of 'plain luck' which has occured because 'variance' exists.

Steve.

 

[Aston1st]

Time to kick start this thread with an up date.

Recently, I put £400.00 into an account, traded it on day one and managed to gain £640.00 profit. Withdrew £550.00 then the next day gave back all but £100 in my account!

I left my original capital of £400.00 in my bank, and added the £150.00 to the £100 remaining.

The news wires have been full of China this Week. I trade the DAX and have been expecting it to fall since the Greek saga last July unfolded.

I have managed to trade the £250.00 up to a wapping £11,000 since Friday the 21st August. I had a major loss last Friday of £1300.00 So I am £9,700 up overall I have taken £5600 out of that account to pay down some bills and turn paper profit to hard cash.

There were times that although I was bullish,I still took a short position. I am very promiscuous as a trader so don't end up marrying a losing position for long. I have done a 179 round turns so far.

Overall I have turned my £250 into £5600 ( i.e into hard cash) with the paper profit of £4100 still in the trading account.

So this September my starting capital will be £4,100

My goal is to turn this into £30,000 by 1st October. I'll let you know how I got on in October

 

[tomorton]

Yikes.

But why not? - it was an easily replaceable deposit so why not trade exceptionally aggressively through exceptional volatility?

 

[tar]

I would concentrate on becoming a successful trader - properly - than growing a trading pot fast .

If it goes well now most likely you will continue trading that way and when u achieve a big pot , time will come for the market to take everything back and it will hurt big time - health , socially , credit ... etc - .

 

[Aston1st]

I would concentrate on becoming a successful trader - properly - than growing a trading pot fast .

If it goes well now most likely you will continue trading that way and when u achieve a big pot , time will come for the market to take everything back and it will hurt big time - health , socially , credit ... etc - .

You are correct, you cannot trade aggressively like that all the time and with a big stake. You change tactic's. And size!

However, I need to have a decent grub stake in place and then trade more conservatively. If I am successful I will then be doing more butterfly or 2's/10's spreads than pure outright spreads. I wont be trading the same aggressive manner once the pots a decent size. I am also looking at trading the DAX\Eurostoxx spread, is anyone here doing that one? I have done it on the sim but not too sure of it, otherwise it's the Bund\Bobl\Schatz or Oil Calendar spreads. You need the size to trade with a decent platform to do the spreads in the first place.

It could be argued to trade conservatively from the start but the size of the account means that it would take a long time to grow, Man's gotta eat in between. If I am spending screen time it should pay. By trading on a daily basis my opportunities increase as well as the risk. My graph that you showed was a a great one, but since it was my own equity account I know what the main factors were for the steep decline. From the outside it would appear I was taking on too much risk, but that was only part of the story. The other was travelling back and forth to the Hospital to see my prematurely born twins (three guess which trading day they were born!).

Anyhow, let's see how this pans out.

 

[tar]

Put in mind that you started trading that way at 2011 not 2015 .


GL

 

[Aston1st]

Yikes.

But why not? - it was an easily replaceable deposit so why not trade exceptionally aggressively through exceptional volatility?

Yes the volatility really helped me. But the last two day's were very frustrating. I was in waiting for a break above the 10400 mark that did not materialize, I made good mone y on the Thursday but lost some on the Friday. Did not have the heart to keep an over night,over weekend, over bank holiday position, wars could start and finish by then! But my magic charts are telling me 11,000 ( on the DAX) in the next few weeks ahead.

 

[Aston1st]

Put in mind that you started trading that way at 2011 not 2015 .


GL

A good point. That's why I am sticking my neck out on this forum before the event.

 

[tar]

Good Luck