How I'm turning my $1.500 into $1.000.000

[peti305]

Today I traded the US Non-Farm Payrolls and bought CADJPY.
Got a loss

-15 pips



Despite the awesome numbers, after the spike the move was muted. Weird.

 

[sohagm700]

When I meet only the requirements of high-impact events best news I am trading.
Backtested back in 2006, event news about my choice and I'm strategies I'm about 25% loss rate, and the remaining 75% gain to break even.
My stop loss is always minus 15 points, spread my profit target of 30 pips as well yayılır.hab some I have to win 15 or 20 points.

 

[peti305]

Today I traded the EU Interest Rate Statement, and bought EURUSD.
Had to exit this trade before the EU Press Conference, got out at break even.




After it, at the EU Press Conference, I bought the EURUSD again, and got out at break even again.



Its always good to secure my trades, because after I got out, EURUSD turned south big time.

So 0 pips for today

 

[peti305]

Today I traded the Canadian Employment Change, and bought USDCAD





Got a win, +30 pips

 

[peti305]

Wednesday I traded the GB Inflation Report, and sold GBPUSD.



Got a loss, -15 pips




Today I traded the US Housing Starts & Building Permits, and bought CADJPY.



I had to close this trade, before the USA Consumer Sentiment came out, so got out at +4 pips.



At the next two weeks I will only look for a few news to trade, so it will be very slow, and I think I will close May around break even.

 

[peti305]

No trades taken this week.

 

[RahmanSL]

As my first post said, I am risking always 8% of my current balance, so I am using compound interest.
One win generates me 16% profit, so starting from $1.500, I'll need 44 consecutive wins to reach $1 million (1500 x 1.16 x 1.16.....). I'll have losses too, so I'll need around 65 wins.
Historically I'll need ~1,5 years to reach that.

1.5 years = 18 months
Since it's now May 2014, you have less than 14 more months to reach your target. But frankly, at the rate your account is growing, I don't think that target is achievable within the remaining 14 months....unless, of course, your profits start showing some remarkable improvements. ....or your "historical" time frame will have to be revised much further down the road.

I am really interested to see you achieve your feat as it will be living proof to all here at the FPA that such lofty dream can indeed become a reality to anyone with the ambition and the perseverance to make big money with very little initial capital.....hmmm...which makes me wonder whether I should maintain my AUD500 "trial carry trades" account and make that into another good example for Newbies

Alright, I do hope you will persevere with your quest and all the best!

 

[peti305]

1.5 years = 18 months
Since it's now May 2014, you have less than 14 more months to reach your target. But frankly, at the rate your account is growing, I don't think that target is achievable within the remaining 14 months....unless, of course, your profits start showing some remarkable improvements. ....or your "historical" time frame will have to be revised much further down the road.

I am really interested to see you achieve your feat as it will be living proof to all here at the FPA that such lofty dream can indeed become a reality to anyone with the ambition and the perseverance to make big money with very little initial capital.....hmmm...which makes me wonder whether I should maintain my AUD500 "trial carry trades" account and make that into another good example for Newbies

Alright, I do hope you will persevere with your quest and all the best!

Thank you! I actually opened this forum topic, because it feels good to get compliments and it gives me even more strength and ambition.

The hard part about news trading is you never know when something good for you is going to happen. Sometimes for 2-3 months you just wait, and after it in one month you triple up your account.
The key is if you have a profitable strategy in a longer term, than stick to it no matter what.

 

[caplas]

Agreed, the goal is noble and if you reach it, this thread will become a must-read for every newcomer. Good luck with your quest!

 

[peti305]

Traded the Canadian GDP today.
It was a loss

-16 pips