Think and grow rich

[SimpleMeLike]

It is a good thought experiment.

Doubling your account on every trade in a liquid market (where you can get very high leverage, like day trading SIFs)
Starting with 1K and ending up with 1M.

All you need to do is have 10 winners in a row using a 1:1 risk to reward trade and reinvest profits. Sounds so easy. But who has done in reality?

What it does shows is how hard it is to predict what the market will do 10 times in a row.

The markets are close to random most of the time. And the probability of getting 10 out of 10 winners in a row, with a 1:1 risk reward ratio is probably close to 1 out 1024. So not much in the way of long term profit expectation.

Hello Millionaire,

What's popping in the streets big homie?

Your write up is remarkable, powerful, and beautiful way for someone to make a million dollars within X to XXX days with a simple strategy proposed from @MacBookProHo .

@cesfx Do you see how @Millionaire use @MacBookProHo idea to stragtize how someone can make a million dollars good buddy.

I FUCKKING LOVE this conversation man. FUCKING LOVE ITTTT.

Everyone coming together to make a MILLION fucking dollars as fast as we can doing what we love for the simply cost $0.00 on the internet on a forum.

Best conversation I had on ET in long time. FUCKING love it.

Keep up the great work @Millionaire , @MacBookProHo, @cesfx.

Love this shit man

Can the owners of ET please highlight the thread as thread of the year so far?

 

[cesfx]

Actually, it is not a martingale as there one would double losing bets.

It's still fantasyland in my opinio.
But what's a few k's... Definitely better odds that the lottery if Millionaire is correct.

And better than scamming people selling a fake road to riches.

Good luck with it.

 

[SimpleMeLike]

It is a good thought experiment.

Doubling your account on every trade in a liquid market (where you can get very high leverage, like day trading SIFs)
Starting with 1K and ending up with 1M.

All you need to do is have 10 winners in a row using a 1:1 risk to reward trade and reinvest profits. Sounds so easy. But who has done in reality?

What it does shows is how hard it is to predict what the market will do 10 times in a row.

The markets are close to random most of the time. And the probability of getting 10 out of 10 winners in a row, with a 1:1 risk reward ratio is probably close to 1 out 1024. So not much in the way of long term profit expectation.

Hello Millionaire,

I notice you have great ways to making million dollars fast trading.

I like that. Keep up the good work buddy.

 

[Millionaire]

idea to stragtize how someone can make a million dollars good buddy.

I will tell you how i made 1M in 2008 and 2009 starting with $120K.

I was betting about 2.5% of my account on each trade.

It took me about 18 months. In which time i was able to double my account 3 times. It took several hundred trades in that time. Not just 10 trades.

So i was doubling my account every six months.

But those were very good markets/easy markets.

120K
240K 1 doubling
480K 2 doublings
960K 3 doublings


These days i trade different, AMP futures give me more leverage than IB did back then. I can bet much larger than 2.5% if i want to.

 

[SimpleMeLike]

Actually, it is not a martingale as there one would double losing bets.

Hello cesfx,

I actually tried and think about martingale trading. Do you know in SIM, I had like 3 months of winning days? Everyday, making money. Man that felt good. I felt like a drug dealer.

I think martingale trading is a good idea, if the trader knows when to stop trading and take the money and stop.

 

[SimpleMeLike]

I will tell you how i made 1M in 2008 and 2009 starting with $120K.

I was betting about 2.5% of my account on each trade.

It took me about 18 months. In which time i was able to double my account 3 times. It took several hundred trades in that time. Not 10.

So i was doubling my account every six months.

But those were very good markets/easy markets.

120K
240K 1 doubling
480K 2 doublings
960K 3 doublings


These days i trade different, AMP futures give me more leverage than IB did back then. I can bet much larger than 2.5% if i want to.

Hello Millionaire,

I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it I love it times 1000 more times, I love it.

man, this awesome. Congratulations buddy. Great work.

That scaling up is the game man to millions quick I am seeing. That scaling up is powerful. I am working on a algo now with 1RR trade management with the sole purpose of scaling up that algo up every time account doubles, quickly.

 

[Millionaire]

working on a algo now with 1RR trade management with the sole purpose of scaling up that algo up every time account doubles, quickly.

1:1 is hard because you have to maintain win rate above 50%, i would recommend 2:1 at a minimum. Then you only need to be right 40% of the time and you will still make money.

Good luck.

 

[SimpleMeLike]

1:1 is hard because you have to maintain win rate above 50%, i would recommend 2:1 at a minimum. Then you only need to be right 40% of the time and you will still make money.

Good luck.

You are right, I got the 40% algo swing working already, that is running.

Now I want that 1:1, fast scale up

 

[MacBookProHo]

1:1 is hard because you have to maintain win rate above 50%, i would recommend 2:1 at a minimum.

Then you only need to be right 40% of the time and you will still make money.
Good luck.

No one can win with a 1:1 reward/risk ratio, and around a 50% success prediction rate. That's Horrible and just Completely gambling.

Ideally, a trader or gambler....should have a 3:1 reward/risk ratio, and a 70% success prediction skill edge rate.

I don't know how you guys do it, by just....gambling....and still managing to carve out some, marginal/lucky, profit.
Whether you trade skillfully manually or by a systematic computer....it's still the same.

 

[Millionaire]

Ideally, a trader or gambler....should have a 3:1 reward/risk ratio, and a 70% success prediction skill edge rate.

70% 3:1? wft.

70% with just 1:1, is holy grail assuming you get enough signals.

With that system you will often get 10 winners a row and so easily be able turn 1K in 1M, the first time you get such a winning streak.

In reality i don't know many (any) people who are doing that (turning 1K to 1M in 10 trades)

Therefore i can only conclude 70% 1:1 is in reality very hard to maintain.