Quite possible…!
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RESPECT! Just one question, is this from the knowledge found at babypips? It would be really inspiring to know that after all that struggle it pays off nicely
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Damnn
Please how many % do you risk per trade???
As a Day Trader
If you have atleast a 50% win rate while taking 2 trades per day risking 1% per trade with atleast a 1:2 risk to reward ratio, you are up 5% at the end of the week. This is very easy to attain.
I earn 20% per week because, I risk 1% per trade & I have more than 50% win rate. Majority of my trades are 1:4/1:5 risk to reward ratio.
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OK guys, time to keep it real. I know the OP is no longer participating in this thread, but I took the time to read it and look at the charts, so here’s my tuppence-worth.
OP had a good couple of days when the markets went with him and I’m sure he has the makings of a fine trader.
However, I’ve made 10% in a day or even 2 days in a row over the last few years with real (4 figures) money. It’s great when you get it right. But there’s a world of difference between a great return over 2 days and a consistent return through a choppy market day after day, month after month and year after year.
5% per day - I won’t even bother to do the maths, but I’m guessing you’d be, like, a billionaire after 7 years or so? I’m sure there’s a couple of people in the world who exist and have achieved this (they are probably not still on babypips£ but for the rest of us?
Forget 5% per day. I’m delighted with 5% per month. What I would say to the OP is come back in a year and show us your profits and losses then and don’t throw a hissy-fit cos more people view you post than comment. You’ve achieved a pretty, jolly respectable number of comments for this thread (prob more than any thread I’ve ever started!!)
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I agree, I have had a few “awesome” days of high returns, but are these sustainable day in and day out? I don’t think so.
I aim for 3% a week, taking a month or so off over Christmas. I would say more often than not I achieve this. I am in Australia and our financial year ended yesterday and I can report that in my second full year of trading I made 400% (after 57% in my first year). I am very happy with this!
This is no where near the 323,000% that the OP would make, compounding 5% per day, 5 days a week for 52 weeks. Starting with a balance of $1,000, you would have a balance of approximately $323,000,000 at the end of the year!! Lol I don’t think so!!
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@THE_GOATE You haven’t worked it out yet, have you? Only a handful in these forums are really interested in becoming consistantly profitable, taking a real opportunity at improving their circumstances…
It’s all about fast money… How can this forum and these threads, and those idiots (me included) that post FREE and possibly valuable trading information get me rich quickly…
And yes, posting results (not strategies) contains a bit of Show Boating… It displays what can be done in these markets with some hard-work, research and perseverance… All in very short supply here!
You say you have been trading for 2 years… And have been profitable across both of those. More profitable than I was in my first 2 years by a long way… Now, I’m not saying you fabricated these results… On the contrary…
Just proves my point… What the hell are these people doing that consistently loose money year after year trading these markets!
For those that bother to read these threads in their entirety… No doubt, counted on one hand! Will understand that as the balance increases the risk profile has to change.
You just cannot trade 5 days a week 52 weeks a year at the intensity required. Your comment reminds me of one of the simplistic old adages asked many times in these forums… If anyone can make 5% ROI each week on a small CFD account.
Why aren’t they working for a hedge fund? You’d be outperforming the entire market…
Big difference risking $500 - $1000 per position than say $500,000 - $1,000,000 on each and every trade.
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You are right, there is a big difference in the mindset depending on the amount being traded/risked. I am quite conservative, take small trades with small (1%) risk. I would prefer many trades with a smaller profit than trying to get one big one, if that makes sense. I increase my trade size as my balance increases, so the risk percentage and trade size stays proportionately the same. I figure as my balance gradually increases, the size of the trade won’t seem such a big deal because it’s happening gradually. I’m not sure your risk profile has to change because your balance changes? Why?
I am happy to show my year end balances/profit figure to back up the return I previously mentioned, and I wasn’t trying to show off, it was to show that I am a successful trader, making a decent (in my opinion) return and that I don’t think 5% a day is sustainable.
Also, a previous poster asked something along the lines of being successful after doing the Baby Pips course. That would be me! I spent a few months doing the course, writing about 120 pages of notes (and I’m a financial adviser). I then spent a couple of months going through these notes and reducing to about 40 pages. I then formulated a strategy/plan and backtested it. Then I demo traded it for months before going live. Quite a long, slow process, but I think it has paid off! “Slow and Steady Wins the Race” sits well with my personality!
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Hey @TurtleGirl , I wasn’t inferring you were showing off, success is nothing to be ashamed of.
The idea is to constantly decrease the risk profile for each position… Either by further development of your strategy, trading less with larger lot sizes… Trading more with smaller lot sizes. I’ll provide an example…
We all have a profit amount that we would call acceptable ROI. The ROI formula should include time, setup and actual cost of funds… So lets say that $6,400 pcm is our target. (~ Australian Gross Monthly Income…)
You would need say a $30k account to make this possible using 1% risk, say a 1:2 RR and say 5-6 trades each week with a win rate of say ~66%. (~4 wins - 2 losses)
Could this be achieved with a $3k account and a 5% exposure to each position?
(SpotCrude ~200 pip TP $300 / ~100 pip SL $150 - 1 lot ~$1568 margin Position)
Could this be achieved with a $15k account and a 2% risk appetite… OR
(SpotCrude ~200 pip TP $600 / ~100 pip SL $300 - 2 lots ~$3135 margin Position)
You could achieve the same result with a $60k account and 0.5% exposure for each trade…
(SpotCrude ~100 pip TP $600 / ~50 pip SL $300 - 4 lots ~$6275 margin Position)
Which one is the most comfortable?
To improve the profitability of this Business Plan… You only have to concentrate on improving your strategy, your R:R and the win rate… The fund amount and the risk exposure never change.
It’s all just math… Now we can smudge the figures, the formulas but this works and is achievable on many levels… It’s all about the KPI’s… Too many over think their trading.
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Hey Turtle, thanks for doing the maths for me!
🧚♀
Exactly, it’s quite impossible! And we all know the real value of money management in Forex!
My short and direct answer to your question is “yes” it is possible to make 5% on a dailybasis trading forex.
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Yes, if you’re experienced and no, if you’re a beginner.
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5% a day is absolutely no problem with some experience
Just imagine ( I have to ad that i speak for daytrading scalping techniques/discretionary trading) - you deposit 100 EUR, scalp with 70 EUR one lot Nasdaq with one EUR each point. To achieve those
5 % of 100 EUR you just need 5 points, thats not more than a handful of scalp-trades a day…experienced scalper do this easily.
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I hope the mods dont take this the wrong way…I am simply drawing out these people to add to the discourse and absolutely no disrespect is intended.
When I read this particular contribution I had to laugh. The whole point of trading is to enter a trade and come out a winner even if it is a single dollar. It does not matter what you do as long as the objective is met. So because I dont trade the conventional way like you and a million others I am not trading? Where do you people come from? One of us didnt take our meds but it’s probably me. lol.
And everyone is adding provisos and conditions to the original question. All that is required is a simple yes it is possible or no it is impossible. No one thought the last 100 meter record could have been broken and then Usain Bolt did it. Because you cant do it does not mean it cant be done. Is that so hard a concept to wrap one’s head around? Then there was this guy commenting about what he does with REAL money meaning thousands of dollars. So if I do my thing with just a hundred dollars my money isnt real and it doesnt count? Incredible.
And to that person who is asking to see a record of my losses lololol. You dont even understand what you see before your eyes. THERE WERE NO LOSSES. smh. But then I realized you are the same guy who says what I do isnt trading. smh again.
I realized/remembered late that the history of my trades for june would be reset come july so unfortunately those trades are gone. Sorry.
One guy was remarking that I only traded gold and I was having a good day because of some bullish run so I went around to oil and did some other stuff. I was on the road all day so no time to meet the objective which is sure to please some of you but for all the naysayers and haters here is what transpired. Enjoy.
Yes I think it’s possible…in Forex the skies the limit. You just have to understand your risk will be higher than usual. Don’t let anybody tell you it’s “impossible”.
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I could show the “BRIGHT” analysts like you a thing or two including where you are wrong but it would be a waste of time because you have a set agenda.
And of course I fully expected, as has happened in the past, for the argument to somehow get around to some admission of my strategy. My apologies for not posting a screenshot like the one you have up there. You not only want a horse but a saddle as well as they say.
Suffice to say how can I reason with a person (with followers who like the post to boot) who looks at an account with no (zero) losses and repeatedly calls it a 99% winrate account?
It is as simple as that. I fail to comprehend why people are making this thing out to be akin to nuclear physics.
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Hi Goate, I’m enjoying your thread and you have stirred up some interesting responses. My point is that I think there IS quite a difference between the risks involved in trading an £85K account and a $100 account, just like i’d be alot more inclined to risk everything on a demo but wouldn’t with real money.
Your strategy might prove enduring and no-one can say a consistent 5% per day is impossible. It’s just statistically very unlikely cos after a fews years of trading you’d prob be the richest person in the world and after a decade you’d prob own all the money in the world!
That said, I admire thinking outside the box and trading unconventionally if that’s what gives you an edge in this tricky zero sum game. I trade unconventionally too (e.g I rarely use stops and hang onto loosing trades longer than most). However, I know my system works (so far…) cos I’ve profited by about 4.5% per month consistently for the last 18 months, building my account from £25K to £63.5K.
I personally doubt your partic strategy will be successful in the long term but I’d be delighted to be proven wrong. I’d be really interested in future updates.
Leveraged account s it’s easily attainable ,in fact 5 % a day is paltry.The skill of day trading is getting in at the "right time "you can use all your margin call aslong
a percentagee loss there is no suffering, then you adjust your stop to a comfortable loss or break even ,whilst adding increment s. To the position .as mentioned.on here Aggressive and defensive simultaneously . volatile instruments with low spread like the indices and USD/AUD.
You got to catch the rainbow s before the storms
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