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

Discussion in 'Beginners Bootcamp' started by Jack Francisco, Jun 11, 2012.

  1. arexa

    arexa Recruit

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    I thought I would be reading treasure hunting suggestions on here or betting on a Lotto. :D
    I think that is not possible in just one day. It could on the couple of weeks if you are a great trader that doubles or triples that money on a daily basis.
     
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  2. Woulter

    Woulter Banned spammer for 4XP

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    Absolutely impossible, i'll be happy to convert my 10 dollars in 1.000 in a month, that means the month after i'll have 10.000$!
     
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  3. Hoween43

    Hoween43 Banned spammer for 4XP

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    Just in your dreams!
     
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  4. willforex

    willforex Corporal

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    I don't think it is easy to turn $10 to $100 even.
     
  5. Pharaoh

    Pharaoh Colonel

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    10 into 1k in a day is hypothetically possible, but only if suicidal risks are taken.

    If you can double your money with a 50% chance of success and a 50% chance of losing it all, your $10 could follow this path:

    $10 Start
    $20 50% chance of success (1 in 2)
    $40 25% chance of success (1 in 4)
    $80 12.5% chance of success (1 in 8)
    $160 6.15% chance of success (1 in 16)
    $320 3.125% chance of success (1 in 32)
    $640 1.5625% chance of success (1 in 64)
    $1280 0.78124% chance of success (1 in 128)

    So, if 128 traders keep splitting into 2 equal groups and taking a 50/50 chance of 100% gain or loss, 127 will fail and 1 will succeed.

    Of course, the broker is grabbing spread, so doing this really means a slightly less than 50/50 chance each time. It would be simpler and easier to just get 127 of your friends together, each put $10 on the table, and then have a random drawing to see who walks away with the cash.
     
  6. LoRio

    LoRio Sergeant

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    But , since we are talking about forex and not coin tosses,those 128 traders (assuming they are traders) would all fail or succeed because they would all follow the same analysis more or less.
    Nice thread , makes what flows in your head sparkly.
    Now , 10 to 1000
    Hmm.
    You'd need a multiplier of 100
    Not all in one offcourse .You'divide it into smaller Maximum risk trades .!
    in 5 steps you need a multiplier of 2.5 . 5 consecutive PROFITABLE trades that multiply by 2,5 each.
    But even with the highest leverage you are still looking for massive moves .
    Ex , on a 1:500 you'd need 5moves of 125pips each.
    So you need to slice down further.
    The most "possible" solution would be 30trades of 6 pips each on maximum risk.
    and possible is really close to the impossible in this case.
     
  7. Red Herring

    Red Herring Corporal

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    When I first start trading live.....my $50 was turned in $0.90 in 2 weeks, yes I fought 2 weeks with $50
    $0.90 was reached due to my fault as I was so confident (my last two trades before reaching $0.90) that I did not placed any SL and slept...both the trades went in the opposite direction (I still can not believe this) and the result is $0.90

    I also started with $10 (actually $11) $1 for margin and know what it results...surely not $1000 (lol...)
     
  8. LoRio

    LoRio Sergeant

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    Patience is needed , low or high risk .
     

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