Apply a 28 Levels Financial Plan to Forex and convert $10 to $10,000
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thread: Apply a 28 Levels Financial Plan to Forex and convert $10 to $10,000

  1. #1

    Apply a 28 Levels Financial Plan to Forex and convert $10 to $10,000

    Welcome to my little experiment: $10 to $10,000 according to a Fiscal Plan!

    to start with, I'm not selling anything and will not do it.
    I'm not starting this diary since I wish to market a signal service or info, or anything like this.

    This is simply going to be my diary pure and simple, where I will post my transactions based on a plan I am going to implement on Forex, to increase my trading, to check the plan, and to discipline myself.
    I will not post any commerce in advance, I am just going to post the transactions I made at the conclusion of the afternoon, showing my Profit or Loss and the condition of the plan.

    Perhaps, I will add some comments about my ideas of a specific trade or about my emotions for the day in general.
    Later on, I will talk about what and indiors I use to do my own trading but I am not going to talk about any method or the way I use those indiors. I believe I've found my method of trading and that there is no holy grail or infalible method to exchange. That is up to each person and depends on a lot of factors, not only on a lot of indiors.

    I want to do this to motivate myself and any other person interested, and also to experiment if, with real objectives and discipline it's possible to make money on the Forex and accomplish the experiment.

    Well, this said, let me clarify a little bit about the plan.
    It is a mix of the first plan based on the achievement of 28 stages and the forex market.
    Originally, the plan was made to start on $1,000 and finish with $1,000,000 applied to any investment or company gaining a determined percentage on each level. So, with all the efectiveness of the compund interest and also the evolution of the plan, you finish with just one million dollar after the 28 steps.
    In this circumstance, I've modified and accommodated the plan so I can go through different levels just by trading the Forex. So, I put on the plan added variables such as, lots, worth of pips, number of pips, pips every day, etc.. And also, I will start on $10, so I don't have anything to lose.

    So, it will be a combination of discipline, money management, goal based on pips every day, pips each degree and percentage gain on my equity. Oh I forgot, also about great transactions!
    The financial plan'per se' isn't likely to make money. It can be a very good plan but it's needed to be a fantastic forex trader to reach every degree.
    The final intention of the plan is to go through a path of studying the forex and become increasingly more profitable and better trader with the advance of the levels.

    To understand what I am referring to, here is an example of the first two levels and what is needed:

    (LEVEL) (EQUITY) (TARGET) (PROFIT) (TOTAL) (LOTS) (VALUE P/P) (NEEDED PIPS) (TIME)
    1 $10.00 50% $5.00 $15.00 1 0.1 50 3
    2 $15.00 40% $6.00 $21.00 1 0.1 60 4

    Let me clarify.
    In level 1 you start with $10 equity and also to pass to level 2 you need to find a 50% profit of $5 into a total of $15. So, if I start investing 1 lot using a value per pip of $0.1 (that is 1 lot=1,000 currency), I need 50 pips for into another degree. The time is on times and is calculated according to a goal of 15 pips every day.
    In level 2 I need to make a 40% gain to complete it, and that will require 60 pips (4 times )

    The following leves the plan simplifies the TARGET (percent ) to lower profits because in fact it is easy to acquire more% with reduced amounts, but when you have more money it's more challenging to have a 50% gain. So, the percent's are adjusted, they aren't adjusted and neither are the number of lots I will use, and also the value per pip will vary, because on a given level I will change my lot size, according to my own degree of equity.

    I hope this is very clear and comprehensible, so if anybody read this thread will understand what I'm discussing. Anyways, if someone read this and is further interested, I can explain with more information almost any uncertainty.

    Right now I'm on par 4 but on another post I will start with my transactions of the initial 3 leves only for your records.


    PS: I've noticed that FCX has a similar thread based on 255 steps but I think we have different approachs and our plan is very different also. So, I'm not copying and it'll be more interesting and hard for me to compare with this plan.

  2. #2
    As promised, hi, I am here again with the usual posting.

    Period: LEVEL 7

    Date: 08/11/2006
    Trades:
    EUR/USD SELL 2 lot at 1.2805, CLOSE at 1.2781 TOTAL: 24 pips
    GBP/USD BUY 2 lot at 1.9050, CLOSE at 1.9030 TOTAL: -20 pips
    EUR/USD BUY 2 lot at 1.2760, CLOSE at 1.2745 TOTAL: -15 pips
    GBP/USD BUY 2 lot at 1.9030, CLOSE at 1.9052 TOTAL: 22 pips

    Total for the day: 11 PIPS
    Current Account Equity: $60.19


    Comments:
    I do not understand what's happening but the usual signals I used to receive on this pairs have not happened since some time.
    I have been trading with another system but I am just not advancing with that.
    I hope this situation changes soon.

    Pips To Level 8: 45
    Accumulated Pips: 311
    Days Considering Level:??
    lt;! -- / message -lt;! -- controls - Days since Start: 55

  3. #3
    Ok then, let's begin with this trading.
    As I said, I'm actually on level 4, but that I will put all of the preceding levels and transactions. I also forgot to mention that I need to make 2359 pips to accomplish my task.

    Starting Date of the Experiment: 21/08/2006

    LEVEL 1
    Equity: $10.00
    Goal: 50 percent
    Profit: $5.00
    Total: $15.00
    Lots: 1
    Value per pip: $0.1
    Needed Pips: 50


    Stage: LEVEL 1
    Date: From 21/08/2006 into 23/08/2006
    Trades:
    EUR/USD SELL 1 lot at 1.2930, CLOSE in 1.2895 TOTAL: 35 pips
    GBP/USD BUY 1 lot at 1.8890, CLOSE in 1.8863 TOTAL: -27 pips
    GBP/USD BUY 1 lot in 1.8868, CLOSE in 1.8883 TOTAL: 15 pips
    EUR/USD BUY 1 lot at 1.2799, CLOSE in 1.2808 TOTAL: 9 pips
    GBP/USD SELL 1 lot at 1.8933, CLOSE in 1.8965 TOTAL: -29 pips
    EUR/USD BUY 1 lot at 1.2831, CLOSE in 1.2839 TOTAL: 9 pips
    GBP/USD SELL 1 lot at 1.8950, CLOSE in 1.8912 TOTAL: 38 pips
    GBP/USD SELL 1 lot at 1.8921, CLOSE in 1.8923 TOTAL: -2 pips
    GBP/USD SELL 1 lot at 1.8929, CLOSE in 1.8923 TOTAL: 6 pips

    Total for the day: 54 pips
    Comments:
    Pips To Level 2: NONE (4 pips upward )
    Accumulated Pips: 54
    Days Since Level: 3
    Days since Start: 3

  4. #4
    Member fanl1's Avatar
    45
    Hello Efex,

    Thank you for sharing your thoughts, I am following your thread with great interest. Are those 28 measures a proprietory item or free? It would be interesting to see if I could incorporate that into my trading...


    Thank you,

  5. #5
    Hi Branac,

    Wow that is a fast reply
    Thank you for your interest.
    Well, I am not the inventor of the 28 step program.
    Really I made it free on some documents I purchased when I subscribed to a free newsletter.
    Then, I paid a suscription to the site promoting the newsletter wich is an investment group (invest on anything) to reach financial freedom thru the program, but this is another story.
    Then, after a few months on Foreign Exchange I have the idea of apply this egy to my trading so I will have a very clear objective and a means to control.
    Anyways, I think it is not propetary and I could send to you, if you would like a pdf using the egy placed on the Foreign Exchange. Then you can play with it and make your changes if you want.
    Send me a PM to send you the pdf

    Bye

  6. #6
    Member ina99's Avatar
    98
    This seems intriguing. Could you say now if it is okay to post in your journal here so others know? Otherwise I can delete this post along with another one. Welcome tocliqforexand Decent trading...

    Scott


    Hi Branac,

    Wow that's a Fast answer
    Thank you for your interest.
    Well, I am not the inventor of the 28 step plan.
    Really I made it free on some files I received when I subscribed to a free newsletter.
    Then, I paid a suscription to the site promoting the newsletter wich is a investing group (invest on whatever ) to reach financial freedom thru the plan, but that is another story.
    Then, after a few weeks on Foreign Exchange I got the idea of use this plan for my trading so I will have a very clear aim and a way to control.
    Anyways, I think it is not propetary and I could send to you, should you would like a pdf using the plan placed on the Foreign Exchange. Then you can play with it and make your changes if you'd like.
    Send me a PM to send you the pdf

    Bye

  7. #7
    Continue with the next Degree.

    LEVEL two
    Equity: $15.00
    Target: 40 percent
    Profit: $6.00
    Total: $21.00
    Lots: 1
    Worth per pip: $0.1
    Needed Pips: 60


    Stage: LEVEL two
    Date: From 24/08/2006 into 29/08/2006
    Trades:
    EUR/USD BUY 1 lot at 1.2825, CLOSE in 1.2805 TOTAL: -20 pips
    EUR/USD BUY two lot at 1.2812, CLOSE in 1.2813 TOTAL: 1 pips x 2= two pips
    EUR/USD BUY two lot at 1.2795, CLOSE in 1.2785 TOTAL: -10 pips x 2= -20 pips
    EUR/USD SELL 1 lot at 1.2785, CLOSE in 1.2765 TOTAL: 20 pips
    EUR/USD SELL 1 lot at 1.2785, CLOSE in 1.2780 TOTAL: 5 pips
    GBP/USD SELL 1 lot in 1.8868, CLOSE in 1.8868 TOTAL: 0 pips
    GBP/USD BUY 2 lots at 1.8887, CLOSE in 1.8902 TOTAL: 30 pips
    EUR/USD BUY 1 lot in 1.2765, CLOSE in 1.2773 TOTAL: 8 pips
    GBP/USD BUY 2 lots at 1.8910, CLOSE in 1.8895 TOTAL: -30 pips
    GBP/USD SELL 2 lots at 1.8895, CLOSE in 1.8881 TOTAL: 28 pips
    GBP/USD SELL 1 lot in 1.8976, CLOSE in 1.8959 TOTAL: 17 pips
    GBP/USD SELL 1 lot in 1.8992, CLOSE in 1.8963 TOTAL: 29 pips


    Total for the day: 69 pips
    Remarks: Here you'll see I traded two lots on some transactions and I should not have done it since my egy says 1 lot! I got a little greedy and wanted to accelerate the process, but then I corrected myself and have sticked into the program!! You get disciplined or get misplaced!!!
    Pips To Level 3: NONE (13 pips up)
    Accumulated Pips: 123
    Days Since Level: 4 (ony counting trading times from mon to fri)
    Days since Start: 7

  8. #8
    LEVEL 3
    Equity: $21.00
    Goal: 35 Percent
    Profit: $7.35
    Complete: $28.35
    Lots: 1
    Value per pip: $0.1
    Needed Pips: 74


    Stage: LEVEL 3
    Date: From 30/08/2006 to 31/08/2006
    Trades:
    GBP/USD SELL 1 lot at 1.9048, CLOSE in 1.9062 TOTAL: -14 pips
    GBP/USD SELL 1 lot at 1.9080, CLOSE in 1.9089 TOTAL: 41 pips
    EUR/USD SELL 1 lot at 1.2870, CLOSE in 1.2835 TOTAL: 35 pips


    Total for the day: 62 pips
    Comments:
    Pips To Level 3: NONE (1 pip up)
    Accumulated Pips: 185
    Days Considering Level: Two (ony counting trading days from mon to fri)
    Days since Start: 9

  9. #9
    Junior Member android32's Avatar
    15
    Efex, is there a trading egy you are using here... seeing the reports and the 28 level egy is surely interesting... but I'd love to find out more about the way you exchange instead of just seeing the results.

    However, perhaps your opening post indies that you are really not interested at the end... that is clear, of course... I am just curious to know more.


    -

  10. #10
    LEVEL 4
    Equity: $28.35
    Goal: 30 Percent
    Profit: $8.51
    Complete: $36.86
    Lots: 1
    Worth per pip: $0.1
    Needed Pips: 85


    Stage: LEVEL 4
    Date: 31/08/2006
    Trades:
    GBP/USD BUY 1 lot at 1.9015, CLOSE at 1.9037 TOTAL: 22 pips

    Total for the day: 22 pips
    Comments: After trading the Increase of the dollar, I Watched an opportunity to go long to Get a little retracement and I got a good trade
    Pips To Level 5: 63 (not counting the 1 pip from past post since I checked my account and I Believe I count it wrong)
    Accumulated Pips: 206 (to be correct with my account's report)
    Days Since Level: 1
    Days since Start: 9

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