USD70+K from ZERO in 16 weeks...

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cwn6161
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Postby cwn6161 » Mon Feb 07, 2011 6:54 pm

Was the goal of that list to show how easy it would be to make 1 million? Isn't that a little ambitious? It's a win streak of just under 500 trades.

Is this a different MM plan than what you use in your trades from the 1st page? You made 0 - 17k in 4 months, with losses. The MM above shows 500 - 17k in about a year, with no losses.

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newschool
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Postby newschool » Mon Feb 07, 2011 10:19 pm

If you make good money what are you doing here?

I almost don't post anymore on kreslik (just like kreslik himself...) since I started traveling/enjoying life by doing OK on the market.

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luminousneo
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Postby luminousneo » Mon Feb 07, 2011 10:57 pm

cwn6161 wrote:Was the goal of that list to show how easy it would be to make 1 million? Isn't that a little ambitious? It's a win streak of just under 500 trades.

Is this a different MM plan than what you use in your trades from the 1st page? You made 0 - 17k in 4 months, with losses. The MM above shows 500 - 17k in about a year, with no losses.


The goal is u can make ur accunt big with ONLY 30 PIPS or LESS ... its not ambitious...ITS FACTS... I dont think u understand how it works...I clearly explained it...ITS NOT WIN STREAK OF 500 TRADES....its 500 DAYS...

I did explained how I trade if I got losing trades in a day...and u can see my real statement or zulu statement....its never perfect ... always got losing trades...

If u set ur SL -20 pips for each trade u need to open another trade and aim for ur daily equity, so u have another 4 trades left before it hit ur maximum SL of -100.... if ur SL is -10, u have 9 trades left....if ur SL -5, u have 19 trades left.... if u cant get 20-30 pips daily so I think there is a problem wit ur system...

Its still the same plan with my 0 -17k in 4 months plan... but in this case u need 47 weeks to get 17K... WHY? because it start with USD500 and its MICRO account while my zulu statement is STANDARD account with USD10 per pip for 1 lot...but it still a good investment...tell me which bank will give u such return in less than 2 years if u put $500 as ur FIX DEPOSIT... :twisted:

I wonder how long have u been trading...u just need to ask if u dont understand....hehehehe
Never Ending Opportunities...even Superman can't stop me...

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luminousneo
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Postby luminousneo » Mon Feb 07, 2011 11:03 pm

newschool wrote:If you make good money what are you doing here?

I almost don't post anymore on kreslik (just like kreslik himself...) since I started traveling/enjoying life by doing OK on the market.



So, what have u done? isn't it posting ?? or did u call this pasting??? hehehe Its ur choice...doing OK in trading and traveling / enjoying is really ur choice... but people got their own way in enjoying their life....n i enjoy helping others...

u r good...watching kreslik while traveling....hehehehe
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pika
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Re: luminous MM

Postby pika » Mon Feb 07, 2011 11:36 pm

luminousneo wrote:Hi guys...hope u have a great weekend. Today I will show you my Money Management Table. There are so many versions of calculating MM but I like to use my own version. Here is the detail for my MM table :

Account Type : MICRO
Deposit : USD 500
Risk Per Trade : 2%
Margin : USD 4.25
Cost per Pip : USD 0.12
Stop Loss : -100 pips
Take Profit 30 pips


Explanation :

This is based on my broker calculation for GBPJPY pair. I'm willing to lose maximum of 10% of my account (10% of USD 500 = USD 50). Whenever I open my trade I risk only 2% of my account so that mean I will have 98% usable margin left. If my SL hit I will only loss USD 50. Since my TP is only 30 pips I won't put my SL that big. SL -20 is big enough for me and I will have a tight SL. It is depend on my system. So basically SL -100 pips is just for safety precaution. If I lose the the 1st trade with SL -20 I can open 2nd trade and I have SL -80 left before I lose 10% of my account.

If I have 1 losing trade on that day, I will use the same lot but this will make my usable margin lower. No`worries. So everyday I will make sure my equity will increase according to my MM table. Number of lots will increase as your equity increase. This will make your account big in a safer and faster way. As I said on my previous post the key is NO WITHDRAWAL until target reached. FORGET HUNDREDS OF PIPS, 30 PIPS IS MORE THAN ENOUGH...



My broker market order...


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Example of Luminous MM...

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The calculation is rounded down. In this case you can see the maximum % LOSS is only 6% and usable margin for each trade is 98%. REMEMBER, I only share how I trade my account and result may varies. You may like or not...I would like to hear your comments...

If you use any system with tight SL your maximum SL (-100 pips) will never hit but your TP will easily hit...but I can't guarantee the losses will be limited...It is just a guide and depend on your system... I will share my system soon...

SEE YA... 8)

luminousneo,

I have no problem believing the maths behind your table since the power of compounding is an exponential effect. However, this is provided you can net that 30 pips everyday. What doesn't make sense to me is that you are willing to risk 100 pips for 30 pips? You may say each trade you only risk 20 pips (not too different from Rat strategy) and have 5 chances, but don't forget you need to play catch up if there is a lost trade, e.g. lose 2 trades = -40 pips, so to net 30 pips you have to make up with 70 pips.

I also wish to clarify if your 5% equity risk (I prefer to look at equity risk because that is what a trader really owns) is represented by that 100 pips? If so, then I'm sorry to say that I am rather skeptical such a model will be profitable in the long run. Maybe you have a method that works and I look forward to your sharing again.

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cwn6161
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Postby cwn6161 » Tue Feb 08, 2011 12:55 am

I have not traded as much as others here, but I'm no fool. You show 500 trades, one each day. Thats 500 days. There are no losses on that sheet. If you are teaching people something, why would you ever show them results that are perfect?

I understand the compounding principles shown here. But that list of trades ends with a very different total if you have 75% or 50% wins.

I HATE seeing people baited with titles like "zero to 70k in 16 weeks" or trade listings that show no losses and 1 million dollars at the end. Thats not realistic for a new trader, and if you are experienced you should know that a new trader will focus on that million and not think that perhaps they are going to lose over and over again.

On another note - if you are risking 5% with a micro account, what are you risking on your standard account?

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luminousneo
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Postby luminousneo » Tue Feb 08, 2011 1:03 am

pika wrote:
luminousneo wrote:Hi guys...hope u have a great weekend. Today I will show you my Money Management Table. There are so many versions of calculating MM but I like to use my own version. Here is the detail for my MM table :

Account Type : MICRO
Deposit : USD 500
Risk Per Trade : 2%
Margin : USD 4.25
Cost per Pip : USD 0.12
Stop Loss : -100 pips
Take Profit 30 pips


Explanation :

This is based on my broker calculation for GBPJPY pair. I'm willing to lose maximum of 10% of my account (10% of USD 500 = USD 50). Whenever I open my trade I risk only 2% of my account so that mean I will have 98% usable margin left. If my SL hit I will only loss USD 50. Since my TP is only 30 pips I won't put my SL that big. SL -20 is big enough for me and I will have a tight SL. It is depend on my system. So basically SL -100 pips is just for safety precaution. If I lose the the 1st trade with SL -20 I can open 2nd trade and I have SL -80 left before I lose 10% of my account.

If I have 1 losing trade on that day, I will use the same lot but this will make my usable margin lower. No`worries. So everyday I will make sure my equity will increase according to my MM table. Number of lots will increase as your equity increase. This will make your account big in a safer and faster way. As I said on my previous post the key is NO WITHDRAWAL until target reached. FORGET HUNDREDS OF PIPS, 30 PIPS IS MORE THAN ENOUGH...



My broker market order...


Image



Example of Luminous MM...

Image

Image

Image

Image

Image

Image

Image

Image

Image

Image


The calculation is rounded down. In this case you can see the maximum % LOSS is only 6% and usable margin for each trade is 98%. REMEMBER, I only share how I trade my account and result may varies. You may like or not...I would like to hear your comments...

If you use any system with tight SL your maximum SL (-100 pips) will never hit but your TP will easily hit...but I can't guarantee the losses will be limited...It is just a guide and depend on your system... I will share my system soon...

SEE YA... 8)

luminousneo,

I have no problem believing the maths behind your table since the power of compounding is an exponential effect. However, this is provided you can net that 30 pips everyday. What doesn't make sense to me is that you are willing to risk 100 pips for 30 pips? You may say each trade you only risk 20 pips (not too different from Rat strategy) and have 5 chances, but don't forget you need to play catch up if there is a lost trade, e.g. lose 2 trades = -40 pips, so to net 30 pips you have to make up with 70 pips.

I also wish to clarify if your 5% equity risk (I prefer to look at equity risk because that is what a trader really owns) is represented by that 100 pips? If so, then I'm sorry to say that I am rather skeptical such a model will be profitable in the long run. Maybe you have a method that works and I look forward to your sharing again.
A very good comment... u r right...

The SL column on the excel table is the maximum amount I manage to lose. When I loss 2 trades (-40 pips) I will need 70 pips to make profit net +30 pips. Thats the idea of showing u my statement... u can see how I did it... I rarely take high SL...why to cover the loss is not easy... that is why I choose only tight SL...

Equity risk is only 2% but if SL -100 hit I will lose 10% of my account. I understand what u mean on this risk calculation and again u r right. So how I manage to get it profitable? Lets look at this example;

25th day : I must open 2 lots and target total profit of $7.20 (30 pips)
26th day : I need to open 3 lots and target total profit of $10.80 (30 pips)

If on the 26th day I have a bad luck and my SL always hit an maximum -100 SL hit I will loss 10% of my account. I will stop trading and open new trade on the next day. My equity will decrease rite? I cannot open 3 lots as stated on 26th day. So I will trade back on my 25th day or 24th day... so meaning I can only open 2 lots...the target period will be longer...but thats not the case.... I better wait than sorry....

What if 10 days with consecutive loss??? I guess even u risk lower than 1% equity including SL 100 pips, if u lose for 10 consecutive day ur account will dry up...hehehe again there is something wrong wit ur system...not the calculation....

Here is example of a system I used : http://kreslik.com/forums/viewtopic.php ... c&start=60

Good luck....
Never Ending Opportunities...even Superman can't stop me...

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luminousneo
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Postby luminousneo » Tue Feb 08, 2011 3:12 am

cwn6161 wrote:I have not traded as much as others here, but I'm no fool. You show 500 trades, one each day. Thats 500 days. There are no losses on that sheet. If you are teaching people something, why would you ever show them results that are perfect?

I understand the compounding principles shown here. But that list of trades ends with a very different total if you have 75% or 50% wins.

I HATE seeing people baited with titles like "zero to 70k in 16 weeks" or trade listings that show no losses and 1 million dollars at the end. Thats not realistic for a new trader, and if you are experienced you should know that a new trader will focus on that million and not think that perhaps they are going to lose over and over again.

On another note - if you are risking 5% with a micro account, what are you risking on your standard account?


cwn6161, Let me reply ur negative comment one by one :

I have not traded as much as others here, but I'm no fool. You show 500 trades, one each day. Thats 500 days. There are no losses on that sheet. If you are teaching people something, why would you ever show them results that are perfect?

I show u 500 days of trade but NOT 500 trades. In one day I might have few trades and it NEVER PERFECT.... example in a day I might have 3 trades, 2 loss and 1 win but I will make sure the winning trade will cover the loss and get net profit of 30 pips... So meaning total trades in 500 days will be more than 500 trades... but usually I open only 1 trade daily if my TP is hit...I will stop n do other thing... So this is what I want NEW TRADERS to learn... better to minimise number of trade and not over trading... If u see the the table, on the first day the profit is only $ 7.20 That's the value u got for 30 pips. So for those who r greedy they will not happy if they only got such SMALL PROFIT. So they might look for bigger pips. They might get it or LOSE it. They don't realize how big is 30 pips in longer run... Isn't this a GOOD LESSON for NEW TRADERS???? The table is just the projection... but I have to follow it...


I understand the compounding principles shown here. But that list of trades ends with a very different total if you have 75% or 50% wins.

When u decide to trade FOREX u also need to understand the risk u might get. Losing is part of the game.... and I guess all business do have risks... In business we must get profit and cover the capital... but each day don't expect customer will always buy from ur shop...but we try to get more customer...its life. As I said the table is just the projection... it might hit ur SL today...or tomorrow...but u might have profit the rest...so meaning instead of 500 days u ur target maybe reached in 600 days or 1000 days....but again it still a good investment....


I HATE seeing people baited with titles like "zero to 70k in 16 weeks" or trade listings that show no losses and 1 million dollars at the end. Thats not realistic for a new trader, and if you are experienced you should know that a new trader will focus on that million and not think that perhaps they are going to lose over and over again.

You HATE it because I guess u HATE TO KNOW HOW LOGIC IT IS... but maybe not many realize it... When u see this catchy heading its attract ur attention...but please TAKE UR TIME AND READ...and try to UNDERSTAND it... If u always jump to conclusion u will always get caught by this catchy heading... this attitude is not good for a trader...the best thing is to try and discover the truth urself... I really think u didnt understand what it is all about... test on demo and show me the result...then we will talk....I saw a heading in newspaper...ALIEN INVADING THE WORLD...oppps its Will Smith's new movie... PLEASE READ hehehe

On another note - if you are risking 5% with a micro account, what are you risking on your standard account?

Hmmm... I'm not sure about ur understanding in FOREX... u can open micro account as low as $25 but for me with such amount u can only open 1 micro lot... so in my table I put in USD 500 as deposit so I can risk 2% (NOT 5%) of my account... So how about standard account??? For me don't dream to open standard account if u have less than USD20K but I prefer USD50K to start with standard account. Another lesson for NEW trader...The risk will always the same... not more than 3%....


Hope this will explain and make u happy...

8)
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TygerKrane
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Postby TygerKrane » Tue Feb 08, 2011 5:10 am

Ok, ok, so I hope now finally from this point forward no more [s]fighting[/s] proving merits in this thread and we can just deal with the knowledge...

So this is what I want NEW TRADERS to learn... better to minimise number of trade and not over trading... If u see the the table, on the first day the profit is only $ 7.20 That's the value u got for 30 pips. So for those who r greedy they will not happy if they only got such SMALL PROFIT. So they might look for bigger pips. They might get it or LOSE it. They don't realize how big is 30 pips in longer run


I assume others have noticed already, but if not, I'll just put it out there, [from the excel chart] after the first 25 days, you're compounding only 1.6% increase per day. The first 25 days is about 1.4% - 1.07% increases you are targeting.

Interesting to see that you spread your 1.6% gain to 30pips.
I'm used to hearing about 2% over 10pips, compounded.

Absolutely, in the longer run, it gets more interesting.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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luminousneo
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Postby luminousneo » Tue Feb 08, 2011 5:42 am

TygerKrane wrote:Ok, ok, so I hope now finally from this point forward no more [s]fighting[/s] proving merits in this thread and we can just deal with the knowledge...

So this is what I want NEW TRADERS to learn... better to minimise number of trade and not over trading... If u see the the table, on the first day the profit is only $ 7.20 That's the value u got for 30 pips. So for those who r greedy they will not happy if they only got such SMALL PROFIT. So they might look for bigger pips. They might get it or LOSE it. They don't realize how big is 30 pips in longer run


I assume others have noticed already, but if not, I'll just put it out there, [from the excel chart] after the first 25 days, you're compounding only 1.6% increase per day. The first 25 days is about 1.4% - 1.07% increases you are targeting.

Interesting to see that you spread your 1.6% gain to 30pips.
I'm used to hearing about 2% over 10pips, compounded.

Absolutely, in the longer run, it gets more interesting.



This is what I called learning...u do ur own calculation n found something... don't worry I'm not fighting...its common for me...I faced so many problems like this before...but as I said I will answer all questions or reply any comments...hehehe
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