Hello everyone I am pretty new to forex a few months demoing and reading non stop.I want to start out by saying thank you to everyone on this site!This site is very informitive. I have learned alot here.But to my question,is it possible to make 10 % weekly with forex or am I way off?Thanks in advance.:rolleyes:

First and foremost anything is possible in the forex market. But is it probable? That is the question us traders need to deal with.

To put things into perspective, translate that kind of weekely return into a yearly return. Without really doing the math after compunding you are easily talking over 600% return a year. Who makes these kinds of returns on a regular basis? Noone that i have heard of really…at least not without taking insane amounts of risk.

Some of the legendary traders are considered legendary when they pull off average returns of 40 or 50% a year over an extended period of time.

My friend, if you are just starting out consider yourself in the minority if you break even the first year. There is a massive learning curve in trading and, in my opinion, if you manage to consistently pull off 15-20% a year you are doing really well.

600% = 6 times. it’s away off.

consider 4*12 = 48 weeks ( we normaly count 52 weeks)

the return of 10% would be 88 times (8800%) for 48 weeks, and 129 times (12900%) for 52 weeks.

I would think that 2% would be possible a day.Say you have a little $250.00 account and you can make 5 pips on the first trade.THat sounds possible right?oN A $1,000 CONTRACT 2% would be 20 $1.00 PIPS.That sounds possible right?$10,000 contract with10 lot contract with a a 20 pip move x 10 lots=200 pips =2%right. I no you will have good days and bad days but is this not possible to make an average 2% day?Is my mind just playing dumb right now or what?.. … thanks agian the confused lonepiper:eek:

I messed up in my post there sorry I ment a $1,000 account not contract…I think I need some sleep.

I think you may be dazzled by the bright promise of Forex. When doing your calculations for profit, you have forgotten something important.

Half of your trades will be at a loss. AT LEAST HALF.

If you are doing well, your positive trades will be larger than your negatives. But no system I have seen generates signals daily AND is accurate more than about 50%.

So, when doing your calculations, assume that you will lose 5 out of every 11 trades, starting with the first one.

For more details, check the school of Pipsology. One of the later classes talks about the dangers of this.

Good luck

~Nimble

But think about this. 2% per day, 10% per week, Say you start with $200,000. you are doubling your account every 7weeks so say x14 per year so year 1 (rounded up 3 million) then it would go 42, 588, 8232, 115248 and remmber this is million! I will let people draw their own conclusions since based on this traders should already own all the worlds equity

This is very possible, I have been doing considerably better then that for over 4 months now. Check out my thread: 301 Moved Permanently

If HALF of ur trades are at a loss, thats a very poor system. I’m usually profitable more then 80% of the time.

For 4 months a consistantly 10% /week? I can not find that number from the link you pointed. 10% for 4 months would be 418%! Show us the money.

I am impressed with that. I do understand there will be losses involved but 10% doesn’t seem that far off. I am a newbie though maybe I am way off.But time will tell.Goodluck to all of you!

[QUOTE=Forex4fun;22899]This is very possible, I have been doing considerably better then that for over 4 months now. Check out my thread: 301 Moved Permanently

Maybe we could be lucky enough do get you system explained to us forex4fun?

At a 4X mtg an experienced trader asked: can you double your account with just 10 +pips PER WEEK (1% of a 1k acct) And the aswer is yes if you are talking $1.00/p., say the GBP or Euro. 1% compounded over a month’s time is roughly 7%. 7% compounded over a years time is 100%. This past week may have changed this somewhat but a net gain of 10 pips/week, compounded, can do wonders. I was nearly ready to give up but his explanation made me determined that I can net 10/week.

Good luck and never give up (especially the learning)

You have not done the math correctly. 4 months @ 4 weeks per month is a total of 16 weeks. 1.1^16 = ~ 4.59. 4.59 - 1 = 3.59x or 359% percent profit at 10% expodential growth per week.

I have posted a little over 70% proft it 6 DAYS. Thats a little over 9% PER DAY. Since there are 5 days per week, you get 1.09^5 = ~ 1.53. 1.53 for 16 weeks in a row is 1.53^16= 901.7x. 901.7 - 1 = 900.7x profit or 90070% profit.

I have not done 90070% profit because demo accounts only last 1 month, and I open a new account around every 2 weeks. So I did not have the time to stack on the profit.

90070% sounds crazy, and it is. Thats why you need a longer test period then 6 days. I just did the math to show what kind of profit I would make if I could keep the same progess, which is impossible as other constraints take place the higher you go, therefore slowing everyone down.

Ok, to clarify: Making virtual money in a demo account is not a problem. It’s possible to make 10% with real cash in the long run, but not probable. It might be possible with a small account but it won’t work with higher cashed accounts anymore, you just can’t handle it (psyche and market conditions).

I make about 1-5% per month, risking 2% per trade. I think, that’s more likely.

Regards - Xaron

[QUOTE

90070% sounds crazy, and it is. Thats why you need a longer test period then 6 days. I just did the math to show what kind of profit I would make if I could keep the same progess, which is impossible as other constraints take place the higher you go, therefore slowing everyone down.[/QUOTE]

What kind of constraints are you talking about? Higher required margin?Higher risk?What slows everyone down?If you had a standard account with $10,000 in it and you averaged 100 pips a week after you subtract your loses that would be 10%if risking $10 pips. I think 100 pips is possible a week I see alot of guys on this site doing better than that even.So if you could do that for a year you would be in a good position.Even with 50 pips a week (which seems very possible)you would be bringing in $500 a week if $10 pips That’s5% per week.And after compounding gain after gain your capital would grow even faster.This just seems to good to be true,but after hearing of these guys making the pips they do in a week it seems very possible to do pretty good in this buisness.

When I mean higher up, I mean in the tens of millions per trade… There are few companies besides the banks that can handle that kind of volume. At that volume there are also less buyers of that quantity therefore less of a chanse to make a trade. This is what would slow you down but by this time you would be super rich so I doubt it mattered much. Going from a couple of thousand and making expodential growth to say a couple of million is fine, and there should be no problems doing so. Anything higher and you get in logistics problems due to shear size. So instead of continuing to increase order size/volume you would have to make more smaller trades. This is the same thing banks do. Imagine a large bank putting an order the EUR/USD for 100 billion. It would screw up the whole market.

All would be traders should take note of this. These figures are much more realistic and believe me many professional traders regard a 2% risk per trade as ridiculously high. Again I am not trying to burst anyones bubble. If you are live and doing much better than this and been doing so for years not days then the best of luck to you

Heck it should compute as:

p = invested (say is 1)

r=rate_return r=.1

y=n_year y=16

year one: p

year two: p + P*r = p(1+r)

year thre: p(1+r) + p(1+r)r = p(1+r)^2

…

year y : p(1+r)^y-1

for the 16th week: p(1+r)^(16-1) = (1.1)15 = 4.18 = 418% !!

What you have stated is the total after 15 weeks, not the profit. So 1.1^15 = 4.177…x as you have stated, but this is the total including the initial amount. To get the profit subtract 1 for the total which is 4.18. (4.18 - 1 = 3.18 which is correct) However your formula should have STARTED with 1.1 the rate, not 1 the initial amount. We are talking 16 weeks of profit, so its to the 16th power. Remember the initial amount started at time 0. So the correct answer is 459% TOTAL and 359% return/profit.