maybe my economics education is lax, but to me balance IS equity. it’s the cash value of my account. i have X dollars in my account, and to me that is my balance, which is the same as my equity.
so, um, color me confused here, but if i can hide my balance, where is my equity showing???
Its always good to have goals, even if they are unsustainable, they ll drive you to be the best you can. Good luck in your 2% a day journey and I hope you are able to make it a reality.
liftoff - yes, sustainability is a limitation, but only really one when the psychological effect of gaining/losing $5,000 in one trade gets to you and when your trade size (position) burns up more of the market depth than your typical entry/exit approach is able to handle. then, ya, you gotta scale back to a lower position, or update your approach to suit. but that’s far off in the distance - it shouldn’t dampen anyone’s spirits or reduce their drive right from the get-go.
No offense, but if you are seeking safe investment in which anyone can invest, of course, 100 % ROI is impossible to find.
Now, it is impossible to switch from middle class to ultra - rich with a 100 % year investment.
DO you think bill gates , steve jobs, soros, zuckerberg was seeking a 100 % year investment ?
Richard denis turned 400 $ into 3000 $ in 3 years, then later turned them into millions. Yeah i know, his technique doesn’t work anymore right ? It was pure luck ? market conditions were different ? He later lost money ? Tell me your excuse 
Maybe you think these guys were lucky, maybe you think this kind of success is for others, maybe you are happy right now, and this is your choice.
Best Regards.
Ok, lets call it ROI (Return of income). Am not concerned if you earn one million per day or one dollar. If you’re going to achieve 2% daily ROI or at least similar, thats 40% monthly. Lets just say 30% monthly. Will give some room to breath.
So here, you can hide your balance. Nobody will know how much money you make or have. Only thing will know that you earn or lose. Thats alright or too much transparency anyway?
But i will take my hat off only for bringing this “[B]can i do it? not yet, but am targeting at being able to do it by next calendar year[/B].” You just admitted that you are looking and trying to reach this… When you DO, please start a new thread. Talking about such gains is absolute rubbish if they are only theoretical.
Thank you for your attention. Am only pointing this out because am feed up with people who claim they can make these kind of ROI. If don’t prove them whats the point in saying? Its like saying am superman, but hiding because i don’t want my wife to find out…
The only thing I have against myfxbook is what happens if they get hacked? Is your account not at risk now since they are linked together? IMO it is a risk that really does not have a reward. the fact of people thinking I am a profitable traders or not means nothing to me. If that causes them not to take my advise then please do me the favor and let me know. So this way I can stop wasting my time posting it if it will not be taken into consideration.
3 of 4 mentioned names are inventors. You can post here a full list of them. They aren’t investors by their nature.
[U]And by the way, if you reach 100% ROI who is stopping you to open up a firm and start investing other peoples money?!![/U] IF YOU CAN REACH goddamn 100% of ROI per year, and have proof, a lot of people will jump in. Even if you give them 100% in two years thats hell of income. You take the other half for yourself. And you’re a goddamn millionare in 5 years max.
Whats your excuse for this then?
Because if i do 100 % ROI / year with my little 10 000 $ with 20 % drawdown, nobody care.
With other people’s money (especially with millions), 15 % drawdown and nobody will ever give you their monney anymore.
By the way, i never told that i could do it, but i’m asking you not to say that it is impossible, if you cannot prove it.
Soros and Dennis were traders, not inventors.
Their common traits with gates , jobs etc… are genius and 100 % involvment into their activity.
Gates was not coding 2 hours per week after his homework.
Your posts are always welcome. You never claim to be making this amount or that amount. Your posts never come across as a “know it all, done it all but never ready to back my claims up with proof” kinda post.
Nothing happens to your account if myfxbook ever gets hacked. the two systems are only linked by an EA which just reports your stats.
I can’t answer this question concerning being hacked what risks are there. Because i don’t know. As am with Oanda, i know you have to verify your withdraws before withdrawing. So in a way you have to hack Oanda too, for which they take full responsibility.
Another thing is that you’ve been here for 2 and a half years. Actively participating in forum. This gives you some credit. But still, i would rather have advices from people i know who makes money…
Yes, like there is a way you KNOW that people wouldn’t give you money even with 15% drawdown. Maybe not millions at first. Everybody would invest with caution. But once you make them money, even 100 000 or 10 000, they will want more. So i don’t really think thats a valid argument… Anyway.
To sum up everything, good luck making millions in 2/3/x years guys. Hope you will make them and teach us…
If a Trader ever is looked at in being hired for a major bank, or a hedge fund, they will always focus on how much the Trader actually needs to risk in order to make the specific $$ goal he has in mind. So to double an account $200 to $400, it is very possible. However the part I would be interested in is how much are you risking to do it?
If you are risking 1 to make 5 everytime, I would say you are well on your way to great wealth.
If you are risking 8 to make 1, then eventually your account will blow up.
Many traders like to win, so they will take several 8 to make 1 trades, because they win. And then comes the day of the loss, and they lose.
Thanks. If i succeed, yes, i’ll come back and teach you. By the way i’m sure ICT has made more than 1 million, and he is teaching us, but it doesn’t make us millionaire
Ahahaah of course there’s enough money out there for us to become all millionaires! oh, wait…
I used to constantly turn $200 into $400-$3k in a two week span… the problem is it didn’t take long before I was back down to $200! I was on cloud 9 when I would build up the account, be it was incredibly depressing to watch it drop back down and felt like the past two weeks of life were such a waste as I watched my account balance drop back down to the start (usually in one or two trades). It was a vicious cycle, I was glued to my monitor 24/7, I hardly got any sleep and never did anything fun, it almost ruined trading for me. After doing this 5-6x times in a row, I couldn’t take any more of it and realized in order to continue I needed to switch up my ways.
Now I am much less aggressive, aim for a much smaller amount of pips on a weekly basis, and making more money with way less stress in only a fraction of the time. In a way I think I had to go through that phase, I was able to learn what I didn’t want from the market so I could have a much more clear idea of what I do want.
Yap, we all been trough the same, well, almost the same. Early this morning i closed a winning trade and it was wow!!! Better than sex. Is the satisfaction of being right and after it the satisfaction of don’t doing anything stupid, to face uncertainty and be able to sorvive to tell the story.
Regards.
Better than sex ah? Im sure there is an app on the iPhone or iPad that allows you to trade at the same time as your night time activities. Now imagine how good that would feel. Just don’t take your anger out on your other half if your trade turns sour. It will all end in tears.
That is why you must have a trade plan, too many loses is worst than sexual frustration.
Amen to that. The trade plan gives us structure to how we define a loss. The loss from a Trade Plan’s perspective is a small event of many. Without the plan, the loss looks like a single event catastrophe.
We use a money management model that calls for leveraging at .05 or.10 per $1000.00 of equity (thousand dollars LOL). This allows you to be wrong either 33 or 66 times in a row with an average stop of 30 pips. If you are wrong that many times in a row STOP TRADING and find a new job
Using that model if you gain 34 pips a day and start with just $1000.00 you can grow that into over 1 million. In just a year. Now in order to do that you need to compound the amount traded each week. For example:
Week 1 : $1000.00 trade .10 per pip result $1204.00
Week 2 : $1204.00 trade .12 per pip result $1448.80
Week 3 : $1448.80 trade .14 per pip result $1734.40
and so on. Now this may make it seem very very easy whats a lousy 30 pips a day. It isnt that easy and is for illustration purposes only and does not take into account losers. In which case it works in reverse you back down to the next level on a loss.
Many traders make the mistake of leveraging the same amount on every trade even as the.
Even conservatively if you get only 100 pips a week, which on a 6 day trade weekis very possisable (17 pips a day) you can grow that $1000.00 into a very nice sum of money.
So can you safely turn 200 into 600 possible try it with leverage of .01 per 100. However with that little amount of money,we would suggest half of that.
tradetheladders
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