missed an entry on a short at 1.4414. Pair is now below 1.44.
update: now at 1.4392. Went long half size.
update: now at 1.4392. Went long half size.
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Tradingjournals Quest... Turn $100 To $100K or To Ash
- Thread starter tradingjournals
- Start date
Quote from tradingjournals:
missed an entry on a short at 1.4414. Pair is now below 1.44.
update: now at 1.4392. Went long half size.
closed at 1.4399. +8pips. A fast scalp. I am not trusting the long side, and also not patient. It might go higher to around 1.4410
Cumulative gains: 210pips.
Cumulative losses: zero
Number of trades:6
Number of trades with gain:6
Number of trades with loss: 0
In one minute it fell from 1.4405 to 1.4360. 43 pips. My suspension of the long side in previous post was then well founded. I would was ready to buy at 1.4358. I missed by 2pip. The bounce was 32 pips.
So two great trades were missed this morning. It would have led to around an 80pips gain in total.
I feel impatient, and since I would buy if price were to be 1.4355 area, I decided to scale in even current price is not desirable as entry, because I might miss on the long side if it goes higher first.
So I entered at 1.4387 with intention to add if it falls to 1.4355.
So two great trades were missed this morning. It would have led to around an 80pips gain in total.
I feel impatient, and since I would buy if price were to be 1.4355 area, I decided to scale in even current price is not desirable as entry, because I might miss on the long side if it goes higher first.
So I entered at 1.4387 with intention to add if it falls to 1.4355.
added at 1.4367 to long. So average price is 1.4377. My current feeling: pair has been looking weak on long side, so I am looking forward to know how a bullish behavior would come about develop if it develops later now. Would a rise in price bring in demand?
Quote from tradingjournals:
added at 1.4367 to long. So average price is 1.4377. My current feeling: pair has been looking weak on long side, so I am looking forward to know how a bullish behavior would come about develop if it develops later now. Would a rise in price bring in demand?
Closed the trade with +20pips gain. Pair at 1.4397.
Cumulative gains: 230pips.
Cumulative losses: zero
Number of trades:7
Number of trades with gain:7
Number of trades with loss: 0
I have some questions: If one were to assume a 10% volatility of a currency, and if one were to assume a max leverage of say 20, what is a reasonable time frame to turn $100 to $100K (or to ash)? I realize it depends on a lot of other factors. I am however asking to question to see what is a reasonable time frame assuming it is doable, and if it is an impossible task if the readers could share the reasoning.
Have you heard of anyone who did a similar attempt? What was the context, result, etc?
Have you heard of anyone who did a similar attempt? What was the context, result, etc?
e/u at 1.4434. I am considering the short side.
Quote from tradingjournals:
e/u at 1.4434. I am considering the short side.
Exited at 1.4405. Entered at 1.4435. Gain of 30 pips.
Noe to myself: If the 1.4436 recent top is confirmed, I feel it may fall 80 to 100 pips from the top. Why did I exit the trade: because I was concerned about a bounce up + I do not think the recent top is confirmed.
Cumulative gains: 260pips.
Cumulative losses: zero
Number of trades:8
Number of trades with gain:8
Number of trades with loss: 0
Quote from tradingjournals:
I have some questions: If one were to assume a 10% volatility of a currency, and if one were to assume a max leverage of say 20, what is a reasonable time frame to turn $100 to $100K (or to ash)? I realize it depends on a lot of other factors. I am however asking to question to see what is a reasonable time frame assuming it is doable, and if it is an impossible task if the readers could share the reasoning.
Have you heard of anyone who did a similar attempt? What was the context, result, etc?
if my calc are correct 10% volatility ~ 0.1% hourly volatility. if one catches each 0.1% turn, bets the whole bankroll each time using full leverage he will get to $100K in about 4,000 hours or ~ half a year.
if one catches only one 0.1% turn out of 10 hours - 5 years. i don't even know how realistic it is to catch 1/10 hourly turns.
Quote from tradingjournals:
Exited at 1.4405. Entered at 1.4435. Gain of 30 pips.
Noe to myself: If the 1.4436 recent top is confirmed, I feel it may fall 80 to 100 pips from the top. Why did I exit the trade: because I was concerned about a bounce up + I do not think the recent top is confirmed.
Cumulative gains: 260pips.
Cumulative losses: zero
Number of trades:8
Number of trades with gain:8
Number of trades with loss: 0
Pretty nice start.