So as I have been working on my system and feel like I’m almost there. I started out calculations about my monthly projected return.
Currently I’m trading only two pairs. And based on my system I shouldn’t place more than one trade for each pair in a week. And supposedly my system is high probability /note that Ive yet to put this to test/ thus I only take one trade a week for each pair. And usually from each trade I get around 30-50pips. For now since my account is relatively small and I keep my risk per trade 0.5% it isn’t much and my projected monthly return is expected at 5%. /I emphasize expected I’m still refining my system and now will forward test and confirm with more trades but so far few trades that I’ve had has been successful/
However as my account grows and as increase my risk per trade to 1% per pip value increases and so does my profit and monthly return and with these two pairs if my trades prove to be high probability it doesn’t seem impossible to achieve 10-15% monthly return even when I place only around two trades a week for each pair.
So it got me thinking what if I added one or two pairs in to the equation. Wouldn’t that make 20% a month achievable though maybe not month in and out.
Based on my calculation if my system proves itself I feel like it is very possible to achieve 15-20% return even if you only place 2-3 trades a week and trade 2-3 pairs.
And I thought to myself like I always do I can be skeptical at times. It can’t be this good ? Well I’m not excluding the months where I may not even make +return and for that I keep my SL tight and I wait for high probability set ups.
Hi Rookie39, I have been trading for the past 1 year and I would like to share with you some of my experience.
While I hope that your system has a high probability of profiting, I would recommend you to risk no more than 3% of your portfolio at any one time for now. Personally, I risk about 4% per trade, and I open as much as 5 positions in a week (I trade AUDUSD, GBPUSD, GBPJPY, NZDUSD, and USDJPY). Last month, I gained a 100% profit.
So yes, it is very possible for you to achieve a 15% to 20% profit in a single month, even if you place 2-3 trades a week as that is what I do when I trade dailies.
Hi fxx trader, I primarily use price action in my trades. I used to trade with indicators but I realized that price action gives me the edge I need to gain that much profit.
Go back and take a look at what you learned from day one of forex right up to today. See if you learned to crawl first (basics) walked next ( expand and practice what you are learning every day in a demo), then jog (open your first live account and take what you learned so far and apply it to a live situation) and lastly race ( take all experiences to date and race to your goals)
In the spirit of good planning. Worry more about will your trading method give you more positive results than negative ones long term, based on the probabilities and not so much a fictional number of pips or percentages. You’ll find once you start trading and gaining confidence you will tweak your trading plan and get better results. That’s what happened to me anyway Nice job and good luck
Gp
I would appreciate if you could explain your method in detail, the methodology for entry and tp and sl. A chart pinpointing the entry and other points would help me to understand it more clearly.
Is it possible? Yes, of course it is. The more important question you should answer is the following: Is it sustainable? It won’t make a difference if you make 20% in July and August only to lose 50% in September. Playing around with numbers on a piece of paper is nice and makes it look very easy, once you start trading in a live standard account you will see how probable it is for you to earn 20% every month. What you write down on paper or achieve theoretically does not matter in the end, what you achieve in reality is and when it comes to trading consistency is the key.
well, the jorney is important but also the trading results along the way. Otherwise, nobody will get to follow you. Afterall this is why you trading with zulutrade, right?
I appreciate your kind words and encouragement but I don’t see why I would lose everything when I risk 0.5-1% of my account each trade and when I achieve 70:30 win loss ratio with high probability trades trading off of dailies. So would you mind elaborating on that a little ? I’m a little confused here. I might be missing something here. Ah! I think I get it becoming consistently profitable is impossible. It can’t be done. That wasn’t hard.
Good try mr.gone. That ain’t gonna change anything. I will keep trying. Winners never quit and loser never finish. I wonder where you belong
Yes it is, I would go with the opposite - 30-70 risk…meaning 30% of equity at risk only. So I wont cry and not loose anything when following a risky trader.
I’d be happy with 15-20% per [I]year[/I] with the same amount of max drawdown. If Bernie Madoff collected $42 billion for promising 10% annually, imagine how much money people would throw at you if you started an investment fund for making 15% annually?
Everyone comes to the Forex market with their pipe dreams. Most of them get a reality check in the first year or two and give up on trading. A rare few make it to the point you want to be at. Chances are you won’t be one of them, no matter how much hard work you put in or how many motivational half-truths you read on the Internet.
10% annually on a $500k egg is enough to live comfortably off of and never work again. Focus on getting a high-paying career and ditching the consumerist mindset pushed onto us by society, rather than trying to grow some meager chunk of cash into a fortune in the Forex market. Many have tried before you, and almost all of them have failed. Those who aim for sustainable returns as part of a long-term plan for financial independence are the only ones who stick around.
Gaining 15-20% per month it is not a easy task. Lets say that you can reach that with your system in one or two months. My recommendation is to test it in a longer time period lets say more than six months and see if it’s still working.
