Terraforce1, the goal in the article is NOT 20% per day. Instead, the goal is 20% per MONTH. The basics of the article is that a person can reach $1 million in 45 months with a super-mini account of $300, 5% risk per trade, and a 25 pip stop loss. ...

A "doable" way to take a $300 account to $1 million in 45 months

I feel kinda silly now, knowing the answer to my question was just 3 posts above mine. This thread is so large that I was sort of overwhelmed, and thus, I decided at the time to just ask about Greg's stop loss (in his system) rather than ...

My GBPJPY trade journal

Greg, what do you use for your stop loss? If anyone else knows for sure what Greg uses for a stop loss, then you are welcomed to reply also.

My GBPJPY trade journal

FXMartin, thanks for the info! On page 502 of that thread, kostas1 (the person whom started the thread) says: The above shows that a person CAN make big money in forex (despite people here saying it is "impossible")! No, he has not reached $1 ...

A "doable" way to take a $300 account to $1 million in 45 months

First of all, as I basically said in my original post, NOBODY should look at my lack of success as a trader and use that as "proof" that it is impossible to achieve what the article says. It is of course ridiculous to say because one particular ...

A "doable" way to take a $300 account to $1 million in 45 months

To "ForExtraPips": I noticed your signature at the bottom of your post that said: "The man who is right six times out of ten will make a fortune." - James R. Koene I like that quote, and so I did a internet search for the author of the quote. I ...

A "doable" way to take a $300 account to $1 million in 45 months

I went back to my orignal post and edited in the below information. This will clear up some misconceptions about the "5 pips per day" of which the article talks about. I have copied and pasted that edit below: It may not have been made clear enough ...

A "doable" way to take a $300 account to $1 million in 45 months

Other than some brokers may not let us make trades with an extreme amount of money, why would someone's trading strategy have to change at any point? Averaging 5 pips a day is averaging 5 pips a day, risking 5% per trade is risking 5% per trade, and ...

A "doable" way to take a $300 account to $1 million in 45 months

Go to the the very first post of this thread and read the 2nd paragraph, and, also, go to post #60 and read the 1st paragraph. Those 2 posts will explain my situation.

A "doable" way to take a $300 account to $1 million in 45 months

Instead of everyone talking about how "impossible" it is to average 5 pips a day ... with a 25 SL ... risking 5% per trade (none of which is crazy), they should instead read Motion's above post over and over again. As I've mentioned before, you've ...

A "doable" way to take a $300 account to $1 million in 45 months

Yes, that is certainly another avenue to get to 20% per month. However, I am assuming, by using a lower risk, that you will need to average more pips than the 5 pips per day as in the example of the article. The total goal of the article is to make ...

A "doable" way to take a $300 account to $1 million in 45 months

bigwal, great post! I totally agree. Too many people limit themselves by believing something cannot be done. Think of ALL the things that have been accomplished even though others said, "that's impossible! It can't be done!" The article I posted is ...

A "doable" way to take a $300 account to $1 million in 45 months

Yes, you are exactly right! The article (nor I) never said any person can just out of the blue sit down at a computer and begin making big money. Without the skills to average at least 5 pips per trade and without the proper mindset to handle large ...

A "doable" way to take a $300 account to $1 million in 45 months

I just don't understand why so many people think it is next to impossible to average 5 pips a day (with a 25 pip SL). After all, aren't there quite a few members of the forum claiming to make 20 ... 50 ... 100 pips or more per week? I have already ...

A "doable" way to take a $300 account to $1 million in 45 months

If you consider risking only 5% per trade on a $300 trading account - with the potential to make hundreds of thousands of dollars by averaging just 5 pips per day - as an outlandish risk, then maybe this money management style is not for you.

A "doable" way to take a $300 account to $1 million in 45 months

The author of the article did not say to "bet you're entire account at 200:1 on every trade". Instead, his suggestion was to risk 5% each trade (using a super-mini account of $300). A person doing this can have numerous losses and still not have ...

A "doable" way to take a $300 account to $1 million in 45 months

You have to remember what the artilcle said: The example he gave uses a super-mini account. Also, it uses a 25 pip stop, and an average of 5 pips per day (trading 20 days a month). Thus, as the author says in the article: "We know that money ...

A "doable" way to take a $300 account to $1 million in 45 months

2 PM Eastern Time was the time mentioned from the article as the start of trading on Sundays. It came directly from the article. All I can figure is that when this article was written 5 years ago, that maybe the broker of author could have possibly ...

A "doable" way to take a $300 account to $1 million in 45 months

In the grand scheme of things, 45 months is not really long at all. Consider that a doctor goes to college / medical school for at least 8 years (maybe even more years for various requirements). That is over double the 45 month time period from the ...

A "doable" way to take a $300 account to $1 million in 45 months

Funny... I think many people made the same joke a hundred or so years ago when the Wright Brothers said they were going to build a machine that flew threw the air. Thankfully, the Wright Brothers refused to believe that it was "impossible". My point ...

A "doable" way to take a $300 account to $1 million in 45 months