I made 0.31% today scalping eur/usd
how exactly do u scalp? still using ichim? and what s ur risk % per trade?people are risking on average 2% per trade, some more, some less…but to make it short, if u know what ur doing 1% per day shouln t be that fabolous imo
Yes still with Ichimoku
I risk 1% per trade max but usually I cut my losses before it hits the stop loss so I lose only 0.5% on a losing trade.
Even with 0.31% I’m more than happy if I could maintain that on the long run it would be wonderfull
that s not good at all, u can t be risking 1 to make less then half a %. i d suggest losing ichimoku and learn how to scalp.take @QuadPip advice and learn how to and where to postion urself to max ur wins and minim ur losses. u have to know fast when ur wrong, specially when scalping. a 1bar stop might do the trick but learn how and where. cheers
OK thank you. Of course I will never stop taking advices and learning
However 0.31% a day is 6.2% a month and 74.4% a year.
So I would not say it is “not good at all” as you mentionned. Even if my target is to work hard to reach that one percent a day !
Furthermore on my quest so far I noticed 75 to 90% of the independent traders are losing money on the long run.
yes, u caught me, i m a losing trader. my point is to not risk 1% per trade only to take 0.3. unless u have a really high win ratio, and even then…u ll suffer when u lose. that s just common sence.
oh I never mentionned you could be losing.
First of all it is absolutely not my business
And my point was to say when 90% of the people are losing you are not doing bad when you make a small win.
On top of that 74.4% percent a year is far from being a small win according to me
Now if you are able to make more:
- I believe you
- I’m glad for you
- I wish you all the best for the future
- I thank you again to have taken some time to give me some usefull advice
agreed. i won t say more, i ll just wish u good luck in ur trading endevour
No, not possible
what do you mean easy? some have more volatility than others meaning it moves fast either upwards or downwards and some move less but it also relates to market hours most of volatility comes from london and us sessions especially when they cross over around London lunch time
“Whether you think you can, or you think you can’t–you’re right.”
― Henry Ford
You should be very carefull when using those type of ideas.
Because for example if someone thinks he can beat the casino at the roulette (or any other game) the reality is he can’t because he has a mathematical disadvantage.
And he will lose money on the long run. No matter how hard he tries or how hard he thinks/believes he can
Personally I’m not a huge fan of EU as it’s very low volatility but it is my favorite low volatility pair. It tends to follow Market Maker pattern pretty well so it’s pretty easy to pick up 20-40 pips per day if nothing else I’m looking at is setting up.
If you understand patterns, timing and count, 1% per day is easily doable. Make sure you’re using proper leverage and risk to reward.
I grow my account 5-10% nearly every day with usually 2:1 or 3:1 risk trades, albeit on higher volatility pairs, gold, silver, Oil or the Indices. Highly recommend new traders stay away from these until they’ve mastered the slower moving pairs.
And you should be careful about what you allow into your belief system. Ironically, I’m tempted to quote the same quote in response. I refrained from doing so only because it might be viewed as being facetious.
So, let me instead point you to a book titled “The Field” by Lynn McTaggart. Lynn is an investigative journalist and in the book she mentions how humans can affect the outcome of even random number generators, skewing the results so as to be statistically significant. She has written several books and every one of them was a joy to read. Our consciousness is very powerful and if we set our mind to it we can achieve things that will astound the average person.
I have personally met people who can do seemingly impossible things such as being able to see with a 360 degree field of vision while being completely blindfolded and with a thick cloth bag over their head too. Another master I met in Los Angeles could apply a force on you without touching you and throw you across the room. This list is long so I shall stop here.
Be aware of your thoughts and avoid thinking limiting thoughts. If you limit yourself by thinking you cannot do something, well then, most certainly you will not be able to do it. You may not be able to do what you want instantly but if you truly desire to do something you can likely achieve it one way or another.
You can make X percent and you can also lose Y percent
The only question you should be asking yourself is if you have an edge and what parameters this edge can operate under.
You should read Van Tharp’s book on position sizing
It will provide all the data you need
There’s no such thing as “I only want to make a little bit of money so is it realistic if I only try to make this amount per day”
Making money in the market and keeping it is extremely difficult
Large or small
And you should be careful about what you allow into your belief system. Ironically, I’m tempted to quote the same quote in response. I refrained from doing so only because it might be viewed as being facetious.
So, let me instead point you to a book titled “The Field” by Lynn McTaggart. Lynn is an investigative journalist and in the book she mentions how humans can affect the outcome of even random number generators, skewing the results so as to be statistically significant. She has written several books and every one of them was a joy to read. Our consciousness is very powerful and if we set our mind to it we can achieve things that will astound the average person.
I have personally met people who can do seemingly impossible things such as being able to see with a 360 degree field of vision while being completely blindfolded and with a thick cloth bag over their head too. Another master I met in Los Angeles could apply a force on you without touching you and throw you across the room. This list is long so I shall stop here.
Be aware of your thoughts and avoid thinking limiting thoughts. If you limit yourself by thinking you cannot do something, well then, most certainly you will not be able to do it. You may not be able to do what you want instantly but if you truly desire to do something you can likely achieve it one way or another.
I got your point here and I completely agree with you
However I’m not sure if using the enormous power of our consciousness to overcome a situation where we are at a mathematical disadvantage is not cheating
Thilam
I can’t help myself - gotta throw in my thoughts.
I agree with a lot of what is being said here.
I scalp mainly EUR. 5min chart. Your charts would give me a raving head ache in 5 minutes!
Have a look at 8EMA You can throw in 20SMA and 50SMA
When candle PULLS BACK through 8EMA and heads towards 20SMA WAIT until it comes back and closes above (below if going short) this is your trigger for entry.
Check first 15min 1hr so that you are going with overall trend.
SL 10pips You don’t need to let it run to S/L
You will to get into the feel / flow, with practice and patience.
This is a very simple methodology, works on other time frames, indices and comms
Obviously a tight spread goes without saying and a trending market.
Back test this and you will be amazed at how the 8EMA has been staring you in the face saying LOOK AT ME - I’M TELLING YOU !
1% is very achievable - remember MONEY MANAGEMENT
All the best with your quest
Just keep doing what you’re doing.
It’s great to set goals. However it’s not prudent to set goals for how much to make in a particular period of time. Better to set action goals, goals that relate to how effectively you’ll follow your system then the money will follow.
Good luck.
Don’t waste your time on this “1% a day” concept.
It can traps newbies, because, hey 1% is a small number, that’s must be achievable everyday!!
Focus on facts and empirical evidences.
As tommor said:
“This represents 1,100% per year compounded profit. Has anyone ever even heard of such an achievement?”
If you want to sell scammish trading ebooks, it’s a nice eye-candy concept tho.