Hello,
I am trying to come up with a method for withdrawing profits on a monthly basis. i trade off the daily and have my method for entry , stops and tp. Currently thinking of withdrawing 50 % of monthly profit , leaving the rest to grow the trading account. Any other ideas.
Cheers
Mark
Any ammount i suppose really, it depends if you’re wanting to grow the account or happy with your current status. If you’re wanting to grow then taking 50% sounds about right
That sounds reasonable. I withdraw 70% of my profits every Friday.
I am doing two types of trading Form my own investment and bonus earned from forums. Profit on my investment is not fully wit h draw I try to keep my capital stable . Extra amount I use to withdraw. In bonus trading I like to withdraw all profit make over trades on regular bases. I can avail the chance of doing trade for next month bonus with this method. I do not compound all the time.
How much to withdraw is really a personal choice. I prefer to allow my profits to compound in my account as I prefer to grow my capital. But I do have a day job with regular income so that is why I do not withdraw profits for expenditures.
However, I do withdraw some profits sometimes as a reward to myself.
Depends on your needs both in terms of account growth and usage of funds say to pay bills. I personally run a spreadsheet to find out my forecast equity for the next year if I withdraw x % and reinvest y%. This way you can see if you will reach your goal or not and play with the percentages to find your personal sweetspot.
i have a xlsx file where i forecast my future gain…then i decide to withdraw at the end of the month but the amount is not always the same…sometimes 50%, sometimes 30%, sometimes 70%: not fixed
I am a part time trader and withdraw only 20% from my account and let the account grow.
If you have a small account don’t hurry to withdraw your profits. Let the account grow first and if you are going to be a full-time trader withdraw only suitable amount to pay your bills and other essential expenses.
Btw 40% - 60 % per month. But that is a small amount in terms of $.
Maybe you should allow your account to grow and not withdraw for three months, just a suggestion.
Withdraw most of your profits until you know that you are ready to trade a larger portfolio.
Any new ideas???
I read a post where a fellow trader was saying something about compounding, ya I think that is the right word. Compounding is a good way to grow your account. Well, It is best to withdraw 50% monthly. The high the amount you have in your account, the higher your profit will be for each trade.
Compounding is the viable option. But not good for everyone. Most of the traders cannot maintain the winning streak all the time. IMO we can earn pips but not easy to keep. So it is better to withdraw considerable portion of profit weekly wise or monthly wise.
50% sounds good… at least until the profits get larger. Then I may take a smaller percent of a larger profit.
Totally Agree with your post. Nicely said.
Odds are most responding here are not pulling consistent profits. As such pulling out funds continually only destroys your opportunity to compound.
Do you want to trade until you die?
How about let your account snowball into a large balance that you can eventually move into something conservative and live off the interest?
By continually pulling profits you are making this work more difficult.
Get as much as you can while you can and get out when you’re done.
When it comes to money, there’s never enough. That makes people keep coming back to trade.
Well, some seek to have some fun when they retire. I think each trader needs to define their own exit strategy and does what suits them best. I may want to trade much less when I hit retirement age, but to stop altogether is not something that I am looking into. I trade for a living, I trade for fun. When it comes down to it there is no right approach.
I ever withdraw (WD) in a month can be $ 100 and I’ve WD with $ 3 and it is necessary to acknowledge because it’s delicious, imagine if you did not WD and experience loss, you might think again, that money has been on Withdraw it feels good so, so, Sukuri what you get with forex trading
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