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@  ishaque : (20 August 2019 - 09:46 AM) ALPHA BINARY INDICATORS
@  elchanan93 : (20 August 2019 - 08:40 AM) hello dears ! Some strat about iq option digital options ?
@  Ghostly84 : (20 August 2019 - 01:40 AM) thanks
@  traderpusa : (20 August 2019 - 01:39 AM) all same. The only modification i had to do was for news.
@  Ghostly84 : (20 August 2019 - 01:37 AM) btw is there a big difference between your first indi and the latest one or the first one is still valid?
@  traderpusa : (20 August 2019 - 01:34 AM) :D :D :D
@  Ghostly84 : (20 August 2019 - 01:33 AM) Just travel to Venezuela and change 100$ and you'll become a millionaire for a while
@  traderpusa : (20 August 2019 - 01:26 AM) that's why i will never be a millionaire lol. I like to spend.
@  Ghostly84 : (20 August 2019 - 01:25 AM) Some people just can't spend money :)
@  Ghostly84 : (20 August 2019 - 01:24 AM) There is a proverb "Saved money - earnd money"
@  traderpusa : (20 August 2019 - 01:20 AM) money is relative lol. When I go out for drinks on Saturday, I am usually the guy making the least money a month at the table.
@  traderpusa : (20 August 2019 - 01:19 AM) I think it is one of my better posts giving you a month overview of things to come
@  Ghostly84 : (20 August 2019 - 01:18 AM) ok thnx
@  traderpusa : (20 August 2019 - 01:18 AM) http://www.binaryopt...204#entry149967
@  Ghostly84 : (20 August 2019 - 01:18 AM) I guess many people would choose to shift to night life and sleep during the day even for half of money you make
@  traderpusa : (20 August 2019 - 01:17 AM) Read my post on it. It was posted this Sunday.
@  traderpusa : (20 August 2019 - 01:17 AM) 30 pips target was only London session
@  Ghostly84 : (20 August 2019 - 01:16 AM) BTW what is wrong with September? i thought Brexit date is October 31st
@  traderpusa : (20 August 2019 - 01:16 AM) yes, but not sure how long i can do this. I trade from Manila, so London open is 3 or 4 pm for me, and trading NY session also makes I only sleep around 4 AM. Like a zombie lol.
@  Ghostly84 : (20 August 2019 - 01:14 AM) lol, impressive, still you are way ahead of "simple" 30 pips a day:)

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Get Rich Thread; For FX & ex-BO traders

Binary options Forex Esma Regulation Rich Million

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13 replies to this topic

#1 forexonomics

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Posted 30 July 2019 - 10:06 AM

Hello,
Great minds, newbies, to be-millionaires, forex addicts etc; Greetings.

I have traded for over 8 years now; I trade mostly from the bed or the bar now; the ambition to start a hedge fund died when I found out trading $100 to $10K (10000% return) is easier than trading $10MIL to 11MIL (10% return).

There are two easy ways to make money trading fx which I have tested over and over;
1. Don't use a stop loss, high leverage, take profit as soon as you are in the green, withdraw daily;- one day the chickens will come home to roast....I don't know if its the correct saying. Anyway; if you are a newbie Stoploss will beat you up, somehow price has higher affinity for SL than TP, especially because you listened to bullshit and placed a TP 3X the SL (risk reward fallacy;- not for this thread but PM me for my article on the topic).

2. Now this is what the thread is about. Here SL is compulsory. Select a broker with the highest leverage; some have upto 1000X. Every time you place a trade; you do it with maximum lotsize but SL at 10% of your account even if that's 4 pips only. So you will lose your balance if you lose the first 10 trades consecutively.
But what happens if one goes your way, remember full lot size. How do you manage it, how do you scale in, how do you get it to 10K% return. That's what this thread is about; I will explain my methods, but looking forward to your input too.

NB/ some will come here and call this thread a suicide, say gambling, say use 2% per trade like professionals do etc. This thread is not for you; this is for open minded thinkers. And YES; Forex can make you riches overnight; I have seen people do it.

Newbie advice; have two accounts; one to trade conservatively and the other to go crazy with methods such as this.

Why I endorse this OTB methods; I have taken part in a no. of demo trading contests. After winning several (taking small amounts such as $100 demo to $100K+) and getting a little reward (with lot lots requirement to withdraw!), I thought; why not open a small real account, and trade it aggressively like the contest account?
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#2 traderpusa

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Posted 30 July 2019 - 10:12 AM

The binary options scammers have made it to FX.  Welcome !


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#3 Mityu29

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Posted 30 July 2019 - 02:55 PM

Just calculating: 

Let's say start with 1k with 1:500 leverage take 10 % of the capital  that is 100.  Assume that you can make 50 pips per trade, with 20 $/€ etc  worth PIP.  You have 5 pips SL. If your SL does not hit that is mean you can double in 1 day. If you can do this 5 days in a row your capital reach 32 K in a week. But if your trade goes let say 300 Pips in GBP/AUD with the same trade than your profit is 6K. So your risk reward 1:60 and you do not have to be agressive to hunt small pips. Your total capital is 1K+6K=7K Following the above example in the next trade you could reach 42K profit  under 2-3 days. You can double up your 49K account with the next trade and reach 100K and reach 10K%. In this 3 trade scenario you just have to be correct and need balls to enter in to the trades. 

 

Best


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#4 Sambo

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Posted 30 July 2019 - 05:58 PM

Sounds a bit of a scammy post to me.

To me it seems that the positive risk reward idea is only a fallacy if you fail to incorporate probability in to the equation. For example a risk reward of 1:3 on a counter trend move is still bad risk reward because the probability is low. So the fallacy in my opinion is to assume that risk reward is solely a ratio.

Take TPs strategy - each trade has huge probability and so it counteracts the ratio of a lower reward and the risk of a potentially large draw down, making it a very profitable approach.
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#5 Sambo

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Posted 31 July 2019 - 02:35 AM


2. Now this is what the thread is about. Here SL is compulsory. Select a broker with the highest leverage; some have upto 1000X. Every time you place a trade; you do it with maximum lotsize but SL at 10% of your account even if that's 4 pips only. So you will lose your balance if you lose the first 10 trades consecutively.
But what happens if one goes your way, remember full lot size. How do you manage it, how do you scale in, how do you get it to 10K% return. That's what this thread is about; I will explain my methods, but looking forward to your input too.

Why I endorse this OTB methods; I have taken part in a no. of demo trading contests. After winning several (taking small amounts such as $100 demo to $100K+) and getting a little reward (with lot lots requirement to withdraw!), I thought; why not open a small real account, and trade it aggressively like the contest account?


This approach reminds me of one of Moritz czubatinski's ideas: https://www.tradecie...l-intervention/

All sounds doable in theory but I haven't seen anyone ever prove they've done it on a live account.

#6 forexonomics

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Posted 31 July 2019 - 03:55 AM

This approach reminds me of one of Moritz czubatinski's ideas: https://www.tradecie...l-intervention/

All sounds doable in theory but I haven't seen anyone ever prove they've done it on a live account.


Example of a guy who did it!
https://www.myfxbook...em7-2011/328097
https://www.myfxbook...em7-2010/319830
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#7 hobbyt3

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Posted 31 July 2019 - 05:09 AM

forexonomics tell me more please



#8 Sambo

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Posted 31 July 2019 - 05:21 AM

Example of a guy who did it!
https://www.myfxbook...em7-2011/328097
https://www.myfxbook...em7-2010/319830


Isn't it relevant that both of their track records aren't verified though?

#9 JustANoob

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Posted 31 July 2019 - 05:41 AM

The binary options scammers have made it to FX.  Welcome !

 

whoever gives money to someone like this , they deserve whatever might befall them



#10 kozimkowski

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Posted 31 July 2019 - 02:43 PM

...and the strategy is; you pick a £1 coin, toss up in the air and whatever comes you enter BUY or SELL! :D 
Then the good money management is to make sure you put the biggest lot your account can handle and don't put the SL so it will hopefully turn around!lol :lol:



#11 forexonomics

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Posted 31 July 2019 - 09:03 PM

Usually most data exhibits normal distribution, but Forex majors have fat tails; the reason for trends, and the reason most reversal strategies fail. So for a good success rate we will follow price; the basic entry strategy;
- 4 EMA set to the closing price.
- Wait for price to trend away from the EMA and sell/buy on retouch to the same direction

#12 Sambo

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Posted 01 August 2019 - 11:13 AM

You're risking 10% of your account just on a retouch of a 4 ema? Surely that's almost every candle in a ranging market!

#13 joe0074

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Posted 04 August 2019 - 12:13 PM

There are too many negative thinkers here.

Let's wait and see if he can prove what he said.



#14 janisroze

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Posted 11 August 2019 - 08:57 AM

For Gold there is this one specific time, where price often finds it's turning point, which sometimes could become a huge rally for the following day (100-300 pips).

I've backtested last couple years and live traded for a few months. Currently with SL 30 and TP 10, but like OP I like the idea. Laziness and summers slumber is what keeps me procrastinating till proper backtest and finding the said edge, that OP is promoting. I think it could be done. I've alway despised the dry academic knowledge of typical rules (risk only 2-5%; use SL; only positive R:R; etc.).





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