AMA: I Make Between $300 to $500 a month

Trading Discussion
21

Ok then, hope it all works out :slight_smile:ļø

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22

500 a month is what 25 a day its not impossible to take 25 a day from the marketā€¦

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23

The market is closed numpty.

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24

No one is saying 50% monthly gains is impossible but Iā€™ll say this, itā€™s close to nearly impossible to make 50% monthly gains month after month continuously. If you can show me an account making 50% gains for at least 5 years then we can really delve into this conversation.

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25

Nobody is ever going to be in a position to show you that, let alone for 5 years.

I do know many that have tried, and it always seems to be the ones that started with a few thousand Ā£ or $ that want to make 50% and more every month.

You could get away with it and do it for the first 2-3 months then its gonna get harder to keep it up.

I donā€™t get why everyone seems to think they need to hit ridiculous returns, but then again you look at their account and its 5k or less so thatā€™s probably the main reason.

You look at some of the biggest hedge funds out there, they make 20% in a year and give themselves a pat on the back and nice bonus.

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26

Thatā€™s exactly my point mate. That feat is nearly impossible even statistically speaking, because you also have so much to risk in that same sentiment. It can easily go left and one bad month youā€™ll pretty much nearly wipe yourself clean out.

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27

This is what usually happens, been there and done that.

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29

Sweet.

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This is my last 3 months. I can give you the link to forexfactory tradeexplorer but itā€™s not

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30

Exactly Iā€™m not that brave honestly to risk it all. I risk at max 5% and truly thatā€™s probably twice in a month with my probability being higher than 70% only than will i be thinking of taking that risk on a trade. Other than that way to scared and weā€™ve seen how the market can eat your position in a quick second.

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31

Fair play to you.

At the end of the day you need to play the game according to your own requirements and needs.

If you can pull $600 a month from the market and youā€™re happy with that, so be it, thereā€™s always going to be someone making more than you, but it comes down to what you need and what youā€™re happy with.

And if you focus on your strategy and understand the profitability % - there is nothing stopping you from increasing your lot size in the future and youā€™ll be making a lot more.

I used to trade tiny ass lots, and now trade 5 or 10 lots minimum.

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32

Yeah there a lot of fools here who talk a good game, and imply if it goes tits up you just start again.

Show me how many people can afford to blow up 10k or 25k accounts and just start again.

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33

Iā€™ve blew over $20k but invested over $50k worth of training wheels.

The reason for the post is to learn about myself and give back. Iā€™m not selling anything. So I have no shame.

Iā€™m 40 this year. Iā€™ll be raising my stakes to $60k (trading capital) once I feel I have save at least 6 months worth of food and shelter.

Dr Alexander Elder did mentioned to be trading 1-2% worth of trading capital per position.

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34

Good thinking.

I must have missed that bit, even tho I have listened to the audio book several times, albeit when Iā€™m in bed.

Itā€™s a very good listen.

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35

I trade the daily. Less noise. More time to think. I avoided the commission and spread by going for big payoff.

Honestly. I donā€™t have to worry news (I do need the volatility) or whipsaw because I avoided the 24 hour sessions when the professionals change or add new positions.

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36

I was hoping to be better by knowing what was once a problem to beginners that seem to have eluded me since I got older both thinking and experience.

37

Iā€™m living with my mum. Divorce. No annuity. No wife. No children. No car. No house. And no ambition. Lol.

Technically semi retired.

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38

Thank you very much.

39

Honestly I love your honesty. Itā€™s totally ok to say you arenā€™t a master in trading and your willing to get better. Itā€™s ok to be happy with those profit gains if thatā€™s what you are expecting. Youā€™re an honest trader because you can admit youā€™ve lost money, you can admit that youā€™ve had faults, but more importantly you havenā€™t given up - itā€™s all about that trial & error mate. Youā€™ve gotten back and you keep trying & trying to better yourself and your system. Youā€™re on a great path, I believe the more honest we are to ourselves as traders the more openly aware we are of our situations.

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40

True. So itā€™s a good thing I started cash poor. I learn to be humble early in the game.

41

Thank you very much.

But I can tell why its not working. This AMA. Lol.

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