Turn $10 into $1000 in a day by forex trading

pipdreaming

Private, 1st Class
Messages
85
It would be hypothetically possible - make a series of 7 super-high risk trades, each designed to nearly double your account. Lose on and one trade and you get wiped out.

Of course, it would be about as easy as flipping a coin 7 times and getting heads each time.

Exactly. It wouldn't be far from going to casino and betting all-in on red. Its possible... but you wont make a living out of it
 

Pharaoh

Colonel
Messages
19,927
I remember watching a dice game at a casino in Macau. You could bet on even vs. odd and any number of other combinations. I calculated the real odds vs. the payouts. The house cut would make a typical wide-spread, large slippage bucketshop broker die of envy.

There was a run on the results coming up odd. After 7 or 8 times, the crowd around the table got big and the amount of money hitting the table was staggering. Tons of money on odd, because the streak "had" to continue. Tons of money on even, because the streak "couldn't" continue.

Eventually, the streak ended. Some people made some money. Some people lost some money. Who really won? The casino, of course.
 

ilearn2t

Sergeant Major
Messages
711
Hello Jack

My Average Win: $12.60, Avg. Trade Length: 1d

All this on a 0.10 lot size (1 cent per pip platform).

So if I multiply my lot size by 1000 to equal $10 my Average win per day would be $1,260.000.
(I think :confused:)

What a shame my Average Win & Trade Length is Myfxbook's way of making me look rich. :rolleyes:

Good luck
ilearn2t
 

navyseal

Private
Messages
291
It's not impossible but very difficult to do that.

Sure you are a scalper when you want to earn a lot in one day, but please remember 10 to 1000 = 10000%. That's super high percentages profit. And I think you have to trade always win with super high LOT. Also use the capital for next trade,...

IN general, I don't think someone can do that within one day. But 1 week is more possible :)
 

perryfx

Private, 1st Class
Messages
103
It's not impossible but very difficult to do that.

Sure you are a scalper when you want to earn a lot in one day, but please remember 10 to 1000 = 10000%. That's super high percentages profit. And I think you have to trade always win with super high LOT. Also use the capital for next trade,...

IN general, I don't think someone can do that within one day. But 1 week is more possible :)


Yes It is really difficult to earn $1000 from just $10 in a day. In my opinion 01 week also too close. Because some days we don't have active markets with higher liquidity. Also we need set of big winners. Other thing is $10 is definitely not enough to keep larger stop losses
 

navyseal

Private
Messages
291
I think you can do it if you are super-talent trader with all RIGHT PREDICTION. Maybe you can see the future of market :)
 

ilearn2t

Sergeant Major
Messages
711
Hello Everyone

I think the potential to earn that amount for any initial capital you deposit can be done every trading day, but the odds of someone doing every trading day is very low.

Remember Jack is not stating one trade a day, and even on a low 15 time-frame enough pip movement in the same direction could increase your Equity to that amount or more.

Example:

If the market moved as little as 15 pips up on every 15M chart then 15 pips down on every 15M chart and you took profit on each close, at the end of the day it will show little or no movement on the Daily chart, but 1440 pips (including spread) could be earned.

But a quicker way is the "martingale" effect, not one for the faint hearted or the "newbies" among us.

The martingale is a betting strategy where your lot size is increased or doubled each time while your previous order or orders is going against you, until hopefully the trend turns in your favor and a profit is made, taking into account all orders placed win & lose. So you see why small investors or newbies might want to stay away from this form of trading.

Good luck
ilearn2t
 

CaptainPip

Recruit
Messages
7
I strongly recommend against using Martingale technique to trade the market. The losses can mount to very high amount in a very short time because you are doubling down on each losing position. Keeping in mind the Forex market tends to trend more than range, if you keep doubling down hoping for the market to turn, you are asking for trouble.

I recommend each trade position comes with a stop loss. If you are wrong about a trade, then just take the loss and wait for the next one. You may get lucky with Martingale so far but all it takes is one failed Martingale attempt and it will wipe out all your profits and capital. Not to mention, all the hard work and time you had put in to build your account.


Hello Everyone

I think the potential to earn that amount for any initial capital you deposit can be done every trading day, but the odds of someone doing every trading day is very low.

Remember Jack is not stating one trade a day, and even on a low 15 time-frame enough pip movement in the same direction could increase your Equity to that amount or more.

Example:

If the market moved as little as 15 pips up on every 15M chart then 15 pips down on every 15M chart and you took profit on each close, at the end of the day it will show little or no movement on the Daily chart, but 1440 pips (including spread) could be earned.

But a quicker way is the "martingale" effect, not one for the faint hearted or the "newbies" among us.

The martingale is a betting strategy where your lot size is increased or doubled each time while your previous order or orders is going against you, until hopefully the trend turns in your favor and a profit is made, taking into account all orders placed win & lose. So you see why small investors or newbies might want to stay away from this form of trading.

Good luck
ilearn2t
 

Joh

Sergeant Major
Messages
976
Hello Everyone

I think the potential to earn that amount for any initial capital you deposit can be done every trading day, but the odds of someone doing every trading day is very low.

Remember Jack is not stating one trade a day, and even on a low 15 time-frame enough pip movement in the same direction could increase your Equity to that amount or more.

Example:

If the market moved as little as 15 pips up on every 15M chart then 15 pips down on every 15M chart and you took profit on each close, at the end of the day it will show little or no movement on the Daily chart, but 1440 pips (including spread) could be earned.

But a quicker way is the "martingale" effect, not one for the faint hearted or the "newbies" among us.

The martingale is a betting strategy where your lot size is increased or doubled each time while your previous order or orders is going against you, until hopefully the trend turns in your favor and a profit is made, taking into account all orders placed win & lose. So you see why small investors or newbies might want to stay away from this form of trading.

Good luck
ilearn2t

I recommend strongly against using this system -some years ago i lost my account through this ;
please have a look at the following ;

Would like you to have tried this with last week EY or Cad/Y trades and other Y's - it went up so far from 0.95 to 119.94 (no sign of stopping) how many times would you have entered a position to this point -every 50p/100p then work out if it keeps going to 139 which it may or to 160 absolutely possible - how many entries can you make/afford with no sign of a reversal thus far. What would your Capital/Accout size have to be? to be able to sustain this. Remember this could go to 150.00 then have a look at the monthly charts

What you mentioned is pure folly and i suggest to any newbies to work this out extensively beforehand - do your math -because you could this could easily not turn or retrace at all for a few years -even if you have a 20k acc. and you take 10c positions you will be bleeding my friend.
 
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