How to double your forex trading account in short order. How long should it take? That's a great question & the answer is up to you. Here is my way. Perhaps you can glean some good things from all I am about to tell you.
Before we begin my new, highly revised method & suggestions for you let me say this:
#1 I have 17 years of trading experience. I was taught by some of the very best in the business. I spent 6 years in one of the greatest trade rooms on earth. 1,000 killers. I wish it was still in existence I would still be there.
#2 I spent my first 6 years in Stocks as a high speed NASDAQ scalper
#3 I shifted to forex in 06 & struggled for years. Had to read every book, watch every dvd I could get my hands on.
#4 I started a trade room in 2010 & traded live & taught all day for years on end.
#5 MY FIRST ACCOUNT DOUBLE took me a long time. I went from 10K to 25K & it took a YEAR! a whole stinking year. That really sucked. The second account double was faster. 6 months to get to 50K but the market was rocking! Another 6 months to get to 100K.
Going from 100K to 1M was like a lightning bolt, but I was up,down and all around. The double from 1 M to 2 M took a year. Cause I was scared to death to lose that money. It took so long cause of sloppy trading... and refusal to go beyond a full standard per bullet fired. And when I fired off up to 500K per any pair... I would sweat & get nervous (Just being Honest) I did overcome that SOMEWHAT when I worked for a hedge fund for about a year... but PLEASE...
LET ME INTERJECT THIS right here! Don't skip this part! The hedge fund manager pressured the living chit out of me day in and day out to: "Go big or go home!" and after a few months of this, I relented & did as he asked. Things started to move into 10, 20, 50 standards. But in all honesty this was FAR beyond my comfort level & I quite hated this. I worked my ass off 16 hours a day & in the end I hated it very badly. When my mom Got sick with cancer & was dying (3 months) things went down hill & I did suffer some losses, both personally & in the Hedge fund account. I kinda got fired & quit at the same time & it was an incredible relief to me. As I was taking care of my mother 24/7 and had total sleep deprivation for months that completely wrecked me.
Personal stuff so you know a little more about me... When My mom passed, I did fall into some depression and took a few months off. Then decided to change careers! I bought/sold 11 homes in a few years & worked my tail off remodeling them from head to toe. I think the most I ever dumped into one house was maybe 40-$50K USD in materials/labor & then I would sell. after 2 years of this & looking at ....
#1 the RISK !
#2 the Capital ! omg !
#3 the Returns ! (sucked, sucked, sucked!!)
I decided screw this! And went right back to what I know and all that I am really good for in this world. (I am kind of an idiot with an IQ lower than 95% of those on earth... BUT I have one unique gift. I have a fricken crazy fast computer chip running in my head. Think of a commodore 64 with a $1,000 Eight core blazing fast chip set) So back I go to trading.
How to double your account fast? How long will it take? I am getting there!~ Cool your jets and give me a space of time.
OK so last year I came out of my retirement. Cause I had ZERO plans to ever teach and run a trade room again. I did NOT want slackers! I wanted hard workers! So I put everyone through GRUELING 30 min to 60 min interviews. I had no open link on my website to join. I rejected 22 people I think from joining with me... for various reasons. And then we started. I figured I would start SUPER SUPER SMALL !!
1,000 bucks and teach folks how to double it 10 times to get to a million. Nice idea but I did kinda forget one thing!
YOU CANNOT WASH A MICRO LOT ! There is no way to split it in half.
So in 22 trading days we hit 105% and I think a few days later we hit 122% but I made a mistake and had something like 25 micros long on the pound and a few micros short on the Euro pound and in ONE MOMENT on a Thursday evening at 7 pm under no news at all came the dreaded black swan ! GBP flash crashed over 1,000 pips in a few minutes and the account went POOF! Vanished.
Yes I blew an account. Yep! In the great scheme of things its no big deal I lost a few grand and a month or so of work. So lets learn from that shall we?
Lesson # 1 and take this to heart: DO NOT BE UNDER-CAPITALIZED ! The LOWEST amount of starting capital I would recommend for trading forex is $5,000 USD. Many of you will NOT like to hear this and would like to: "Get rich quick" by over trading & trading to large. Let me tell you that you should not be trading with capital you cannot afford to lose, no rent money, no grocery money, and NO GAMBLING! If you do not listen to me you will DIE.
I swear this is true. I trained 1,500 people in 6 years & 1,400 of them did NOT LIKE to listen! I preached like a darn broken record & folks would not listen. They would HATE the truth & stay a day or two with me, or maybe a week or two with me & heck, some folks even lasted a few months but the STANDARD NORM.... was that most people would leave after a few months because it was just TO HARD for them. Or they would say: "I don't have the time (please read into that... "I am not making crazy sick returns in wicked short order. I want to be a millionaire right fricken now! and I don't want to wait 3-5 years" That is what they really meant.
Lesson #2 Start a demo account & LEARN to trade first! Once you prove to yourself you are good THEN move to live & for the love of God ... START SMALL! I mean MICRO lots per trade. Put "skin" in the game... YES, but make it tiny first & learn to grow larger over time. SLOWLY.
So, lets get down to the subject matter at hand. ONLY YOU... Know how good you are of a trader, Right? You know what kind of trader you are & what your not. Some of you are scalpers by nature like me. Yet some of you are intraday traders off of 15M to 60M charts but you really want to be out by EOD. No overnights for you! Others are "go big or go home" traders that demand stops cause your trading like King fricken Kong. Your looking for "One shot, one kill" trades & your putting on some serious size relative to account value & are willing to swing it baby! Overnight or, for days on end.
Fine. Fine. So we got a mix of traders out there. Let me suggest to you TWO scenarios that I really like and I not only feel fine about, but I KNOW this is doable. There really is not one trader among us that should not be able to do these things. I will work this math from a simple & normal sized account OK?
I will work this out with a mix of trades. 1/3rd scalping, one third intraday position trades and one third swings.
Now. Before we begin. If you have ANY trading experience at all you flat out KNOW that the market wiggles and jiggles up and down all day long. Nothing travels in a straight line. Easily the various forex pairs go up and down 3,4,5,6,7,8,9,10 and even sometimes 11-15 pips up and down ALL DAY LONG. Forever. Its never ending. It just does not quit.
So I am going to ask you with the 1 & 5 min charts and 30-40 currencies displayed upon your 8 monitor array... Can you not find 160 pips a day? I mean in an 8 hour or 10 hour day can you not find 160 pips in this combination? Just scalping one third of your trades and then on another third ....
Intraday position trades. 15M charts... Can you not find 20-30-40-50 pip moves based off 15M buy & sell setups?
The last third of your trades you place on some hourly or 4 hour charts & set a stop & set a target & "Set it and forget it" trades with at least a 2 or 3 to one Risk vs Reward ratio. Are you telling me that you CANNOT find 160 pips of movement in all of this? I just do not believe you if you say no. Go kid your mother. Your not honest.
Now let us think of the GOAL & then we simply work backwards from the goal OK? IF at ANY POINT ... You think I am lying to you or selling you a freaking story then you do this. You go, sit your ass down and do the stinking math yourself! Fair enough?
10K USD account. Each bullet fired off is just .10 R/R is always 1 to 1 or greater. Mix is scalps and intraday positions and swings. Goal is 160 pips at end of the day. How many trades does it take to get this? Let us assume you will LOSE 30% of your trades This bring us to MAKING 240 pips on average in a day and LOSING 80 of those pips in a day to END the day with +160 which will be 1.6 % gains each day. How many trades is this?
Could it be 24 winning trades that average 10 pips each and 8 losing trades that lose 10 pips each? Could it be something like this on AVERAGE?
If you do not like my numbers generate numbers you feel are real for YOU & that you feel you can achieve. OK? Fair enough? Then DO .... what is required to make this happen. Its not that darn hard !
Alright, Now if you get to 1.6% a day on average (I realize some days may be 2.0% days & other days may be 1.0% days but I am talking an average per quarter. At 1.6% you hit 33% a month and 100% doubles per quarter. But what if you CANNOT achieve this?
So what? Is it the end of the world if you only do 1.2% a day on average & it takes you 4 months to double an account? No. This is fine. You have nothing to prove to anyone. Your not in some kind of race.
What if all you can do is 100 pips a day and 1% a day on average? Is it the end of the world if you only double your account every 5 months? No... remember this is up to you. Its not my call. I am just trying to help out here & wake you up & get you to see what is possible.
I just opened my new $25K overseas (corporate) account in March of 2017. I traded it basically five times UNDER sized and I still managed to hit about $60K in 5 months. If I was trading full sized on it I know I would have doubled a lot faster but also the size is a double edged sword. Margin can make you rich or margin can KILL YOU if you get things wrong. Over leveraging hurts like mad. On my crappy trades I would be in pain & washing faster than a one armed paper hanger! lol So I am fine with what I have done. (Update. only a tad over two doubles in 2017... then I was forced to close my corporation by a crappy banker that screwed me over badly. You can read about that in another twitlonger tweet on my PINNED tweet on my twtr feed.)
There is a lot of sad folks out there in the world. There are those that mock this & just have no faith that it can be done. And the thing is we really are not talking all that hard or to complicated to be honest. This is not rocket science & its pretty easy to do for one that is not a lazy bum & will just sit down & do the work. If you fail to see the light in any of this I challenge you to sit down & do the math yourself.
Draw up a trade plan that you can live with. Then do it.
If you want to be successful COPY someone who knows what the fricken heck they are talking about. I just GAVE you GOLD! 100% free heaping massive piles of Gold. I got 6 years training people. 1,500 have passed through my doors. I KNOW about 25-30 I have trained, it has stuck and they went on to greatness. I see a few of you on twitter right now listening to my advice & taking it to heart (about 15-20 so far). You are going to make it. Do not let anyone talk you out of it. The amount of negativity in this world is insane. Shut it out. Do not listen!
FREELY ye have received. FREELY give! Retweets of this will be appreciated 100 times more than a mere "like" Thank you.
Why am I giving this all away? All the other tweets? all the videos? Knowledge that has cost me years in blood sweat and tears.... KINDNESS of heart. There is NO other reason.
I have nothing to sell you, no room to join, no course to buy, I don't want your email so I can market to you. I just want you to make it. Please be sure to check out my other posts that have more depth on other subjects. And when you are successful and well off... would you be so kind as to spread some of your wealth around to those less fortunate than you? When a homeless bum asks you for money why not walk him into a shop and buy him lunch? Is $5 going to kill you?