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 thenâŚu ll suffer when u lose. that s just common sence.
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
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 canât 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 Iâm not a huge fan of EU as itâs very low volatility but it is my favorite low volatility pair. It tends to follow Market Maker pattern pretty well so itâs pretty easy to pick up 20-40 pips per day if nothing else Iâm looking at is setting up.
If you understand patterns, timing and count, 1% per day is easily doable. Make sure youâre 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 theyâve mastered the slower moving pairs.
And you should be careful about what you allow into your belief system. Ironically, Iâm 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 âThe Fieldâ 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 Tharpâs book on position sizing
It will provide all the data you need
Thereâs no such thing as âI only want to make a little bit of money so is it realistic if I only try to make this amount per dayâ
Making money in the market and keeping it is extremely difficult
Large or small
I got your point here and I completely agree with you
However Iâm not sure if using the enormous power of our consciousness to overcome a situation where we are at a mathematical disadvantage is not cheating
I canât 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 donât 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 - IâM TELLING YOU !
Itâs great to set goals. However itâs 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 youâll follow your system then the money will follow.
Good luck.
Donât waste your time on this â1% a dayâ concept.
It can traps newbies, because, hey 1% is a small number, thatâs must be achievable everyday!!
Focus on facts and empirical evidences.
As tommor said:
âThis represents 1,100% per year compounded profit. Has anyone ever even heard of such an achievement?â
If you want to sell scammish trading ebooks, itâs a nice eye-candy concept tho.