Nothing to do with the discussion but i am done for the week. You guys and everyone else in this thread have a great week-nd and be ready for next week.
Done for the week??! What about NFP??
I do not trade NFP because is on the last day of the week and i am chicken sh**. :60:
You do realise that these screenshots show that you lost money right?
Your primary account - lets say you started with $100.
$100 x 0.8 x 2.6 x 0.44 x 0.38 x 0.62 x 0.36 x 1.0055 x 0.75 x 1.12 x 0.7 x 0.93 x 0.94 x 0.66 x 0.83 x 2.14 x 1.4
This leaves you with $5.50 approx
Your secondary account - again lets say you started with $100
100 x 0.84 x 1.095 x 0.84 x 0.68 x 1.35 x 0.92 x 1.53 =
End result = $76 approx
So I donāt understand your point here.
You assume capital remains constant. Not very smart.
Iām assuming that capital is compounded, unless you decided to deposit massively before each winning month itās not going to make a difference. And the only point of showing the restricted information that you provided was to show your percentage gain. If you did not base it on a steady capital there was no point in showing it in percentage terms.
Fair enough. I agree with you to some extent on the last point.
Now, we are human traders, not robots, so naturally two consecutive months with a high profit percentage must have profit taking somewhere in them, and two losing months could have some soul searching done, which could either cause an increase or decrease in capital or none. Hint hint, so this means I did profit taking after July.
With that said, myfxbook is just a programme while we are humans with decent money management, so unless you are looking to game myfxbook, there should be inconsistencies between your actual mental account and your myfxbook account and I found at least two but what do i care about what a programme thinks when I know I have made more than I have lost. Itās almost like those interview surveys, if you average 9 or higher out of 10, then itās obvious that youāre trying to game the system and you lose credibility. For example, I saw the verified myfxbook profile of some guy with a russian broker during the week. heās been trading since 2009 and is 4174% up according to his myfxbook and has currently grown his account to $8m. While this can be possible, the red flags are raised by the fact he has never had a losing month since he opened his account in '09, earning consistently between 5-10% a month. Also, he has never cashed out a dollar of his winnings, so obviously, even if his winnings are real and verified, heās trying to game the system and if he doesnāt take his winnings, this would obviously end in the market taking it all. Finally, who tries to game a system for 5 years !? Once I saw this, I also deleted myfxbook as I do not want to tailor my trades to impress the system or other traders. But fear not, like I said earlier, Iād provide a new screenshot next year, even if I may delete my babypips profile at some point before that to focus on trading.
You mean Kondakov and his MMCIS ābrokerā. Hereās an interesting take on it that I found: MMCIS investments - mmcis-investments.com
and a video investigating them: YouTube
Yup. That guy. I only just found out about that story this week.
Oh btw, for my primary account, I ramped up my capital by 300% sometime in March in an unsuccessful attempt to defend a margin call. So factor that somewhere in your calculation and let me know what the numbers look like.
Iām not going to calculate it, if you wanted to show it, you would have - in fact Iām off to bed. I wasnāt trying to be malicious, I was just pointing out that the stats you showed immediately gave me that impression. But as you say, you are making money - good luck with it, and good night!
And good night to you too.
15%-40% monthly or yearly ?
100,000 % weekly return!!!
Given that the title of the thread says Monthly, I would presume that unless they specifically state otherwise.
The original question was asked over a year ago (by a member whose last log-in here was also over a year ago).
But, since the threadās been bumped yesterday/today ā¦
I find myself in disagreement (surprise surprise) with quite a bit of āinformationā in this thread.
So, for the record, in my opinion, itās worth being aware, in such discussions, that professional traders working at places like Goldman Sachs and earning 7-figure annual bonuses (yes - many still are, even now), who have had all the professional training and got past all the obstacles, and put in their ā10,000 hoursā, and all the rest of it, are generally regarded as āon-targetā and āsuccessfulā if they double their accounts in one year, and that that equates to about 6% profit per month on average, compounded 12 times per year.
Thatās pretty much factual, according to āinformed sourcesā.
I donāt mean to imply that thereās any good reason why a good, experienced, self-employed, home-based, professional forex trader shouldnāt aim to outperform her equivalent at Goldman Sachs, but it might, overall, be helpful (if a little dispiriting) for people in such positions who are [I][U]expecting[/U][/I] to be able to earn a steady 10% per month to be aware that āsignificantly outperforming the successful Goldman Sachs traderā [B][U]is[/U][/B] what theyāll be trying to do, if thatās their objective.
On the monthly % , i average between 4/9 % a month that is taking in account a bad month or a loosing month. However, since i leave everything there for now until i get to a sizable acct, the dollar amount is growing. When it comes to a institutional trader, they have a much more difficult time making their percentages because they have set rules within their company they have to trade by.
They do, and inevitably a risk manager to enforce them, if necessary, too.
Of course, judging by their overall results, compared with those of most home traders, one could be forgiven for thinking that those set rules actually make long-term profitability āeasierā rather than āmore difficultā?
Trading isnāt really about profit-maximisation: itās about [U]risk-management[/U], and that clearly exists as an [I]aid[/I], not as a hindrance, to overall profitability.
[B]100,000%[/B]
Sound of applause and loud cheers
It is really reasonable, when you trade with a risk of 2.5-5% ā¦ reward of 15-40% is descent!