Thank you for your answer. It helped me very much. I’ll try to use such technique. Do you also use scalping? And what about good brokers? Can you advice me some brokers which are honest when traders use scalping?
Over a year now. I am in the process of setting up an investment firm.
In what country is this f
In what country? Correction.
But the real question is, why bother? If you are pulling in 15% a month, you will be a billionaire in no time at all. Why bother even going through the hassle of creating a company?
It will take 4-5 years trading 15% monthly to become heavily wealthy. I also believe that if I’m doing it for myself there is no harm doing it for others at the same time. It’s always nice to help others.
So since you’ve already been trading over a year it’s safe to say you already have amassed a small fortune since it takes 4-5 years for you to get your billion… I mean, that’s a thousand million we are talking about here. In three years that’s over a thousand days away, so at this point you must be pulling in tens of thousands if not hundreds of thousands daily as that will exponentially climb to your inevitable billion.
I’m either extremely impressed or not convinced for a moment. Not middle ground here.
Your math is wrong. I started with 2,000 making 20% monthly makes returns of year:
Year one 17,832
Year two: 158,993
Year three: 1,417,603
It takes three years to become a millionaire. On my capital.
I definitely agree,
It can definitely be done to those who are learning forex. I went through a time doubling my account withing 2-3 weeks. But you’ve gotta know when to take risks. Certain trade set ups have very high probability.
Me personally I’ve risked up to 30% of my capital on a trade but I dont do that unless i know for sure the direction, and its usually with a pair that is not as volatile (so i can have a small stop) it takes a while before you get a gist but for all traders its strongly recommended that you first figure out your style of trading, and figure out your strategy first. Sometimes i can put up to 50% of my account on margin and be O.K. but i do it with a conservative currency such as UCAD or KIWI, thats the trick. Off 50 pips you’re gaining a pretty significant return on your account.
I personally think that 2% risk thing is great for beginners… but bull**** for people that are good at trading and consistently profitable. We’re in the bushiness to make money. The key thing is KNOWING WHEN TO TAKE RISKS but that comes with practice! Easier said than done!
Did you calculate your 20% monthly return ahead of time? if so how were you able to factor it in to a hard core plan (lot size, stop loss, ect)
I only ever risk 1% on every trade and target 1-3 trades per day. As for percentage I change lot risk when I get to half and full numbers meaning that if I was trading 10k my risk per trade is 1% which is 100. I would then change my risk when I hit 10,500 so it would then be 105.
This lot size would vary on the trade as my stop loss is different each time.
not a bad plan, what would you end up changing your risk to? and what are the increments in which you increase your risk by?
No. I’m not wrong. For if you were pulling in that type of return you would be mortgaging your home, liquidating every asset you have, getting a second and third job to drive in every dollar possible and playing with a lot more than $2000.
The fact you have that type of capital and the results you think you have only tells me you don’t even believe enough in what you have.
However it’s a decent enough story for you to try to sell for the interim.
this and enochs way both show promise however this is more complicated because it has a structure to it and enochs way is more reliant on opportunity to pull the trigger
i would also go on to say this seems safer because of the risk tolerance but yet it is highly aggressive to achieve those big gains meaning it requires more discipline to stick to such strict guidelines given all the temptations
if the risk is only 1 percent for you to become a millionaire in 3 years it means you let your profits run and trail your stops and usually pick the most optimal time to enter which is very hard considering the market likes to retrace before it makes its serious move
Some of my trades are 20 pip stop 20 pip target each day gaining roughly1-2% depending if they both win. I believe having a strict risk management will give consistent long term gains, plus 15-20% monthly is more then enough.
I am only 21. I don’t need to rush into things, I’m happy and consistent. That’s why I trade simple.
how long have you been trading forex? i just turned 22, thinking about dropping school
Of course. Silly me. Your youth prevents you from pulling in additional capital for your business venture.
And yet somehow you successfully talked a hedge fund into utilizing you for their profitable gain.
You’re a dozen trades in. Your consistency has not yet been put to the test.
Do not drop out of college to trade to forex. That makes no sense whatsoever.
that is 1 to 1 risk reward but it is possible to be right most of the time so its not bad. I have a larger risk because I use the margin call to stop me out and sometimes one loss takes out a big chunk of my account still working on where you are in discipline.
not long not even a year you? the politicians may ruin forex they dropped our leverage from 400 to 50 in a few years so they want you to stay in school
its up to you though