Hey, i wish you well, just trying to keep it real. The truth is probably somewhere in between the extremes you have been told.
My point was not that everyone makes 100% return. I was simply stating that many people have the idea that you should never risk more than 1-2% of your account. Based on that, the average person couldn’t make $2,500 a week without a large account. That size account isn’t realistic for most people, but 250 pips a week is. Obviously, other factors come into play, so someone may not make that 250 pips every week. Some weeks more, some weeks less. But it will balance out and it can be done.
As for Warren, I don’t believe he trades Forex full time. I’m sure the billion he made a few years ago against the GBP can sustain him for a while.
You bring up a good point. I dont believe in the 1% rule either. At least not for small accounts , like mine. If I lose 100 bucks i can just replace it next payday. Warren lost 600 million too.
You bring up a good point. I dont believe in the 1% rule either. At least not for small accounts , like mine.
Cannot understand this statement at all.
Especially for small accounts, this approach indicates no money
management at all.
If I lose 100 bucks i can just replace it next payday.
You do understand that you are supposed to be making a profit,
as well as your broker? On whatever level you are at.
I wish I could afford to lose half of that. 
duh. maybe i can explain so even you can understand. the account isnt static. I can replace losses.That doesnt mean i dont try to figure what went wrong with the trade. Every one has losses, probably even you!
We’re supposed to make a profit? I thought you did this for fun! I never said bet the farm, just that you can take more risk more than 1% if you are continually funding your account.The 100 bucks was just a figure i threw out there , that would represent 4 or 5 bad trades in a row for me.
Comprehende?
duh. maybe i can explain so even you can understand. the account isnt static. I can replace losses.That doesnt mean i dont try to figure what went wrong with the trade.
I understood exactly what you meant, what I couldn’t understand
was the stupidity of the statement. “If I lose 100 bucks i can just replace it next payday.”
Every one has losses, probably even you!
Yep but not to a point where I need to prop up the account
with spurious amounts of cash. My losses are factored into
my money management strategy, therefore there would be no
need to refund in anyway.
We’re supposed to make a profit? I thought you did this for fun!
That about sums up your approach to this business, I enjoy
trading, but losing money is not fun to me.
The only consolation I can see from your posts is that at least
there is somebody refunding the markets to allow me to make
the profits I make. :lmao: Comprehende?
I see i’ve encountered the resident board troll here. but i will explain the my statements one more time , not to you, daydumber
but to anyone else who may be reading.
I never said it was fun to lose money, you know nothing about me or my approach to this business. I only meant it would not wipe out my account if i lost more than 1% on a trade. In case you didnt know thousands are refunding their accounts to provide you your vast profits,but so far i am in the black. Without knowing anything about you other than being a troll, i would bet i could buy and sell you twice over.
So after laughing your ass off go into your corner and play with yourself until its time to troll someone else’s posts
Can’t we all just get along?
I think what daydreamer was getting at is the fact that it doesn’t matter the size of the account. You shouldn’t need to add more money if you’re practicing proper money management.
It might seem easier to throw the principal out the window with a small account but it doesn’t do you any favours. If you will blow $100 then you will blow 1 million.
I think what daydreamer was getting at is the fact that it doesn’t matter the size of the account. You shouldn’t need to add more money if you’re practicing proper money management.
It might seem easier to throw the principal out the window with a small account but it doesn’t do you any favours. If you will blow $100 then you will blow 1 million.
I am glad it ain’t just me who can see this, thanks VulcanClassic
you know nothing about me or my approach to this business.
I don’t need to, all I need to do is read your posts, it gives me
all the insight I need. Also your attitude to a little bit of criticism
speaks volumes to me.
Still :lmao: & also now 
Please dont feed the Trolls. Especially the troll rolling on the floor laughing
Thanks for the laugh, that’s funny.
But seriously, have you ever heard the saying “You can’t point at someone without having 3 fingers point back at you” ?
I have read his other posts and find them informative. Can’t say I’ve ever seen him flame anyone.
first time for everything.
You know, Ebenezer, I must say that your attitude leaves a lot to be desired.
You’re new to the forum, have only 17 posts, and start trashing someone (daydreamer) who’s been here longer and has contributed over 400 posts to helping others.
That’s very rude and very unprofessional.
If anyone was to be called a troll, it could be you, since you appeared out of nowhere and started stirring things up without cause.
I understand you’re opinionated, and that’s fine, but don’t take everything so personal. Just because daydreamer didn’t understand your comment doesn’t mean you have to be ignorant in your response to him. A simple explanation of what you meant would have shown you to be an adult that we can hold a conversation with, not a child who has a hissy fit because someone disagrees with him.
This forum (in fact, all forums) works best when we all try to help each other, not attack someone because they didn’t agree with you. We all have our own opinions, and we’re all entitled to express them. But, trashing someone and calling them unjustified names goes beyond that, and is unacceptable behavior for anyone.
Why not just relax, contribute where you can, and ignore those you choose not converse with? It will make things less stressful for everyone and you might even learn something.
Going back to the idea previously stated. I also agree with the idealogy that if you’re going to blow 100 bucks, you’d just as well be inclined to blow a million.
The principles of money management and a solid trading strategy should not be wavered despite the amount of one’s bankroll. Let’s assume each week one puts $100 into their bankroll from their paycheck. Wouldn’t it be more prudent for that money to be invested into a winning strategy so that it can gain more?
OK,Lets get a fresh start, let me apologize for my any previous derogatory statements made to Daydreamer.
BUT, i think you still misunderstand what im trying to say. I only meant that my forex account is small but i can easily replace any losses if i go over 1%. Im not advocating putting half on some wild gamble or blowing my life savings. what difference does it make if the money is in my account or in the bank? I’ve only been trading live a few months but i have a net gain of around 10 percent. Unlike some newbs here im not trading out of desperation,
Im retiring next year at age 50 with 30 years at philip morris. I made around 55,000 last year and the wife who is an R.N made 45. I also own a 2 Mobile home parks (one 40 space and one 4 space,a small apartment building and a car wash. I have vacation home in the N.C mountains and one in Daytona Beach.
So i guess i tend to overreact when someone who may only have a net worth of 10,000 dollars tries to lecture me on money management! My gut reaction "I got 2 million dollars!(net worth) How much You got? LOL
Again i realize forex is different but still I repeat I HAVE NO NET losses and I plan the trade and trade the plan. One reason i think ill make a good trader is because at the amounts i plan to trade i can remain detached because at the amounts i plan to trade , win or losses will have absolutely no effect on my lifestyle. Having apologized and explained my position i will have no further comment on this subject.
So i guess i tend to overreact when someone who may only have a net worth of 10,000 dollars tries to lecture me on money management! My gut reaction "I got 2 million dollars!(net worth) How much You got? LOL
In response Ebenezer_Scrooge you do not know what I am worth,
on the 'net it is easy to go around spouting figures, I could also see
you needed to tell me what you are worth, I ain’t impressed.
Also I would not have put your attitude down to a guy of 50, quite
surprising, early 20s maybe.
This is an open forum & as such we are all entitled to our own opinion,
bullying tactics, name calling, etc. do not really wash, in fact it can
make you look a very small person.
Your original statement was akin to the seasoned gambler, not a
professional forex trader. Respect is earned, on the 'net, not by
how much cash you can flash, or a bullying self centred attitude,
but an ability to see someones problem & if you can, help them out.
“In the world of the blind, the one eyed midget is king”
Just a thought.
PS Thanks to VulcanClassic, In2Blues, & mastergunner99, the cheque
is in the post.
In reply which i said i wouldnt do
you should have accepted my apology and let it go at that, instead you continue to lecture me and insult me. I have been on the net and various forums for years, and i dont have to earn anyones respect especially yours… True, i dont know your net worth and i wasnt talking specifically about you, but these people who claim to be making tons of money as a professional forex trader then offer to let you in on their “trading secrets” for a “small fee” are full of crap. See Daydreamers home page
EARN A REAL LIFETIME RESIDUAL INCOME FROM THE FOREIGN EXCHANGE (FOREX) MARKET
I WILL FOR A SMALL FEE SHOW YOU HOW TO MAKE MONEY FROM THE FOREX MARKET.
As far as mentioning my net worth i wasnt talking to you and i hesitated to state it because it is virtually meaningless on the net since anyone can claim anything. Even that they’ll make you a pro forex trader "for a small fee"LOL
These kind of operations are usually run by people who havent got a pot to piss in, nor a window to throw it out of.
and i wasnt trying to impress you cause i couldnt care less what you think one way or the other
regarding the name calling and bullying tactics, like Vulcan said you cant point a finger without 3 pointing back at you. Not accepting my apology makes you seem like a very small person.
Whether you believe it or not i’ll be sitting on the beach next year laid back collecting rent checks while your still chasing nickels and dimes on your website Good luck, you’ll need it 
You write so passionately, as though you think I really give a damn.
Read my signature.
Now that’s my last word on the subject.
:lmao:
Well, I’m officially bored of this sandbox, now.
The last thing I have to say is to Ebenezer.
I understand that you weren’t saying that you’d trade wildly and not worry about losses because you can always put more money into your account. That’s good, but it did sound that way at first. Thanks for clearing that up.
Also, you’re a successful investor and resent being told about money management. I can understand that, to a point. But, success is relative. Two million is probably better than the average person in this forum, but you don’t really know who is successful and who is not. There may be people in here with a net worth that makes yours look like you’re just starting out. So, it doesn’t make sense to be arrogant because you’re successful, because there’s always someone more successful than you (or me, or whoever).
The thing is:
-
Even the most successful investors are open to new ideas and “advice” from others. They admit that they didn’t get where they are completely on their own but, instead, had “help” in the form of knowledge and advice from others. Unless we think we know everything there is to know about investing in all markets, we can always learn something from someone else.
-
While you may be successful in Real Estate (my favorite investment, BTW), that doesn’t necessarily translate into success in Forex. Money Management as defined in Forex trading is different from most other investments. Not listening to the advice of successful traders can lead to a drastic reduction in that net worth very quickly.
In other words, success is relative. You could probably teach most of us a lot about Real Estate investing. In turn, there are many in here who could teach you a lot about Forex trading. If we listen to each other, we can all be successful in our chosen areas.