How I got rich (By request of a few members)

[GirlCrazy]

Don't get into real estate till you have the money, I think you should get to know about Forex and see if you are comfortable with it.

A friend of mine made a good point that real estate gives you better leverage than most other financial vehicles.

My sister seems to be doing good snapping up houses, which she buys for zero down, and converts to multiple units.

Awesome post. Thanks for sharing your story!

 

[madgame]

I've been through a similar thing (though way less extreme/impressive than AngelusPUA's story). I got interested in stocks and shares at around age 14 and started investing (I mostly held my positions for a couple of months so it wasn't really investing nor real trading)..and basically I made a around 6000 dollars over the years, but then the whole market collapsed and didn't go well for quite some time (and I havent been able to focus on it so much, because of school and other issues... trying to stay realistic and all...) so I've been away from the 'game' for a couple of years, but I've always known I'd invest/trade again, but I'm a lot more interested in trading rather short-term (not necessarily day-trading) than investing middle-term (b/c obviously trading depends less on the way the market is going than middle- or long-term stocks)..So I have 2 questions:

1) Does any of you guys know a stock market simulation program/site that allows you to test methods of technical analysis to see if your approaches work?..or in other words WOULD HAVE worked in the past? I'm interested in applying a couple of approaches of technical analysis which helped me in the past on more than just a couple of stocks but on an endless number of stocks, so that I can see if the strategy works (and wasn't just luck)...Anyone know a program like that?

2) Please don't get me wrong for asking this (especially you AngelusPUA), but I'm wondering why nobody doubts what he says? Have you guys met him before or something like that? Just curious why people are so sure they're not listening to a troll...I could tell a similar story based on what I've done and just say I didn't make a couple of thousand but several millions, if you get what I mean...So how come none of you guys think he MIGHT be not telling the truth? (Please forgive me for sounding like a hater, I'm really just careful who to take advice from...)

3)@AngelusPUA: The whole FOREX thing sounds nice to me, especially as fees that you have to pay on the stock market are an ugly thing if you're trading with rather small amounts of cash. Is there no catch to this thing? I just read a little something about it (not much though..ill do so later) and I think I read something like you have to pay 3 (i dont remember the word but it was NOT percent) on every trade you make...does that mean you buy a currency for 101 for example and if its still 101 but you wanna sell it you'll only get 100 (just an example..)?
Does this/or anyting else hurt investors who trade small amounts of cash more than those who trade huge amounts or not at all? If it doesn't why would you suggest starting with *at least* 2000, if it's also possible to start with a couple of 100 (just curious)? thanks

 

[Shiftkey]

2) Please don't get me wrong for asking this (especially you AngelusPUA), but I'm wondering why nobody doubts what he says? Have you guys met him before or something like that? Just curious why people are so sure they're not listening to a troll...I could tell a similar story based on what I've done and just say I didn't make a couple of thousand but several millions, if you get what I mean...So how come none of you guys think he MIGHT be not telling the truth? (Please forgive me for sounding like a hater, I'm really just careful who to take advice from...)

No offence to Angelus, but this was the first thing that popped into my head. Even still, I have nothing to gain by calling him a troll and nothing to lose by believing him. He's not trying to sell me anything, so if I do try FOREX trade it will be of my own volition. It's also worth noting that he recommends researching the subject and using a simulation before even attempting it.

 

[Bible_Belt]

imho, being skeptical is part of being a good trader.

My questions did not really get answered.

Did you catch one big run? Has the market changed since you made your money? Are you trading trends or against them? Do you trade off news or technical analysis?

And I have a lot more so I hope he is for real.

How do you do fundamental analysis of a currency? Are you looking at economic numbers? Which ones? Which technical indicators do you use besides candlestick charts? Are you using a daily chart? What are your favorite candlestick trade setups? Do you try to pick tops and bottoms or ride a trend? Do you use Fibonnacci retracements? Moving averages? Oscillators, like stochastics?

 

[SELF-MASTERY]

imho, being skeptical is part of being a good trader.

My questions did not really get answered.

Did you catch one big run? Has the market changed since you made your money? Are you trading trends or against them? Do you trade off news or technical analysis?

And I have a lot more so I hope he is for real.

How do you do fundamental analysis of a currency? Are you looking at economic numbers? Which ones? Which technical indicators do you use besides candlestick charts? Are you using a daily chart? What are your favorite candlestick trade setups? Do you try to pick tops and bottoms or ride a trend? Do you use Fibonnacci retracements? Moving averages? Oscillators, like stochastics?

ypur post is like the keyword list from the intro to forex shyt i read earlier.

 

[Bible_Belt]

Fibonacci resistance lines are the only technical indicator in which I ever had faith.

http://en.wikipedia.org/wiki/Fibonacci

 

[SELF-MASTERY]

why is that???

 

[Bible_Belt]

http://en.wikipedia.org/wiki/Fibonacci_number


The Fibonacci sequence is everywhere in nature. They also appear in the natural ebb and flow of crowd behavior - market dynamics.

When a traded commodity makes an extended move and then comes back, it will tend to meet resistance at about 1/3, 1/2, and 2/3 of the original move. It works in every timeframe, from tick charts that I used as a scalper to daily and weekly charts used by long-term investors.

 

[MR.ALPHA]

It is quite fascinating how he started from nothing and is a multimillionaire at a very young age. From reading his story I draw several conclusions.

1. The whole thing is bogus and he is is just creating a fantasy rags to riches story

2. He is a financial genius

3. He is incredibly lucky and brave risking so much money on a very volatile market

From what I heard as I know very little about trading, most people lose rather than make money on FOREX.

 

[AngelusPUA]

imho, being skeptical is part of being a good trader.

My questions did not really get answered.

Did you catch one big run? Has the market changed since you made your money? Are you trading trends or against them? Do you trade off news or technical analysis?

And I have a lot more so I hope he is for real.

How do you do fundamental analysis of a currency? Are you looking at economic numbers? Which ones? Which technical indicators do you use besides candlestick charts? Are you using a daily chart? What are your favorite candlestick trade setups? Do you try to pick tops and bottoms or ride a trend? Do you use Fibonnacci retracements? Moving averages? Oscillators, like stochastics?

My Trading Plan

Currencies:
-USD/CHF
-GBP/USD

Charts:
- 5min, 30min and 2 hr
-Candles
-Plot previous weeks high and low
-Plot previous days high and low
-Plot daily support resistance lines

Indicators:
-SMA
-EMA
-MACD
-RSI
-Stochastic
-Fibonacci retracements

Time frame:
-6pm-3am (when London market opens and closes)
-Monday, Tuesday, Wednesday, Thursday

Method:
-Identify new trend
-Wait for at least 2 confirmation candles
-Enter market
-Set a stop order 20 pips below entering price
-Keep an eye on trend and cut off any profits at 100 pips
-If trend is weak cut off at 20 pips
-Look for drops (currency drops faster than it rises)
-At least 5/6 indicators should be telling you the same thing before you invest

Fundamental analysis is a very small part of my trading I mostly look out for news on interest rates news.

P.S. My trading plan is suited to me and wont work for everybody and this is a very basic outline of my trading plan

 

[madgame]

No offence to Angelus, but this was the first thing that popped into my head. Even still, I have nothing to gain by calling him a troll and nothing to lose by believing him. He's not trying to sell me anything, so if I do try FOREX trade it will be of my own volition.

Yes, I'm not trying to say he IS a troll, I'm just considering the possibility he might be one and i was really surprised that not one person on here has called him a troll (as that usually happens on here pretty quickly), so I was wondering if maybe there was a little more to it (as he also said, he had been asked by members to post this).

It's also worth noting that he recommends researching the subject and using a simulation before even attempting it.

Yea, and actually the recommendation to use a simulation first is the reason why I think he might really be speaking the truth, as imho most people who try to trade/invest in stocks don't do. Usually it works out like this (seen it more than once): Somebody gets interested in stocks, as they hear somebody has made a large amount of cash with it and they think 'maybe I can do it, too'. Then they try and don't succeed right away and then they get bored or even frustrated and stop it after a while...

When I first started I did start off with simulation...and I did make very decent gains in the real stock market world, but before I start to trade/invest again, I wanna be completely sure, that I do have a system that helps me make gains. This to me is the same thing in sports betting for example..or anything like that...if you don't have a system that works everything will come down to chance. But IF you DO have a system that's proven to work (in countless simulations using real stock market data..real time..and past data) and it did outperform the market, then you're all set and will be able to gain the money after the simulation, too (thus there's also no need to be dissapointed if one of your simulation stocks went way up or whatever...b/c you don't wanna depend on chance...and if you have a system that works and outperforms the market well enough, you WILL make gains...if you're using money management, that is...).

But then again, I was really just so surprised, that nobody considered the possiblity that he might not be telling the truth as people on here are quick to point that out lol

 

[AngelusPUA]

People asked me how I got rich, personally I didn't want to post this but I was getting private messages from over 10 people and 2 people asked me on a thread to make a post of how I got rich; I didn't just feel like making a post to boast about myself. I think people aren't shouting troll because they can sense that I am speaking the truth.

 

[AngelusPUA]

3)@AngelusPUA: The whole FOREX thing sounds nice to me, especially as fees that you have to pay on the stock market are an ugly thing if you're trading with rather small amounts of cash. Is there no catch to this thing? I just read a little something about it (not much though..ill do so later) and I think I read something like you have to pay 3 (i dont remember the word but it was NOT percent) on every trade you make...does that mean you buy a currency for 101 for example and if its still 101 but you wanna sell it you'll only get 100 (just an example..)?
Does this/or anyting else hurt investors who trade small amounts of cash more than those who trade huge amounts or not at all? If it doesn't why would you suggest starting with *at least* 2000, if it's also possible to start with a couple of 100 (just curious)? thanks

Different brokers have different pip spreads, they give you a buy and sell price for example 1.2384 is the sell price 1.2388 is the buy price. Those two prices are 4 pips apart; they are always 4 pips apart. So when you buy you are effectively paying them 4 pips. The important thing is it doesn’t cost you anything to trade, if I buy a currency at 1.2388 and sell it at 1.2388 I will get back exactly the amount I put in.

 

[madgame]

Usually, there's always somebody who shouts troll..but well glad to be the first one to do that here lol. I think you clearly understood it wasn'tto be taken personal, but that i'm just being cautious..and curious...

Have you used any simulations with PAST data to see how your method performs, Angelus? I know you said some stuff about simulation (real time), but have you ever used a program which had past data to verify your trading approaches? B/c actually, I mean I don't see how this is any less valuable that doing real time simulation (other than the thrill of course), b/c you could pick random stocks of the past and see if your method would have worked on them, etc. ever tried that and maybe know a nice program?

 

[Bible_Belt]

Thanks. How long do you usually hold a position? Do you hold overnight or is it all intraday? A 100 pip move is one cent, right?

Are you always paying the offer price when you want to buy, or can you place a bid and wait for someone to hit your bid?

Do you sell short?

 

[AngelusPUA]

Sure I used demo accounts in the past I lost quite a few times but I eventually got my bearings and started making money.

I think the use of demo programs and the study of the market is essential before you put money in. One thing I want to make clear is........

DONT RUSH IN, USE THE DEMO PROGRAMS AND STUDY FOR ATLEAST 6 MONTHS BEFORE YOU PUT MONEY IN.

No matter how well you go today the market has a tendency to turn around and kick your ass. You need to be prepared to fight back and that takes experience. One more thing that I have to make clear.......

NEVER UNDER ANY CIRCUMSTANCE NOT MATTER HOW SURE YOU ARE INVEST MORE THAN 20% OF YOUR TOTAL EQUITY

Also always set stop orders to protect yourself sometimes the market can go against all indicators and have a massive drop/rise that nobody can see coming. I learnt this lesson early I had $1000 invested and I was at +600 I walked away from my computer 10 min later I come back and I was at -$1000.

 

[Bible_Belt]

How much margin do you use? I am looking at interactivebrokers.com and they give 50:1. That's huge. Stocks are 2:1.

 

[AngelusPUA]

Thanks. How long do you usually hold a position? Do you hold overnight or is it all intraday? A 100 pip move is one cent, right?

Are you always paying the offer price when you want to buy, or can you place a bid and wait for someone to hit your bid?

Do you sell short?

I usually hold a position for anywhere between 5min to 5 hours, I rarley go over night.

1 pip = $10 for me

for people with mini accounts

1 pip = $1

I hardly place limit orders to buy a currency I usually just watch it and when I see it is at a good price I will buy. You can however set orders to buy and sell at certain prices a lot of traders don’t need to be at their computers more than 1 hour a day to successfully trade.

I think my margin is 100:1, $1000 controls $100,000. I'm not sure how margins work that is the brokers side of the business.

 

[Bible_Belt]

IB requires $5K to start an account. Leveraged 50:1 that's $250,000 of buying power for a measly five grand. That is some major leverage.

 

[AngelusPUA]

I'm with www.gftforex.com