most ppl cant stick it out , they risk huge ammount when they first start and get burn . or they get to $100,000 and buy a house …
it is the same as saving money in a bank , most get greedy or don’t stick it out
Talking about returns in “pips” is a bit pointless, but for the record, I can’t average anywhere near 250 pips a month. I have the odd good month where I can make double or treble that figure, but there’s no way that I, or any other trader that I’ve ever met or worked with came anywhere close to those numbers.
doubling your account in a month is a fair indication that you won’t be around for too much longer. It’s a mathematical certainty that you’ll fail.
If your goal is making a million dollars in x years, there are far easier ways to achieve it.
well Billy, you seem quite convinced about it.
All the best while you are in the real world.
This is the most relevant statement on this entire thread.
Starting out with the ambition to make millions from a balance of less than a $10,000 (for example purposes) is not only under capitalization with respect to the million dollar ambition, but as the account exponentially grows you will need to factor in partial fills, increased slippage and time lag - These three fundamental elements of trading do and will play a negative effect when you’re speculating with large orders.
There is nothing wrong at all with your theory on compounding, but just because compounding looks attractive on paper it does not mean you can discount the risk involved.
We need to start a networking Dream Team,
Some just do better in a team setting…
5% a day on daily balance will get you around ALOT OF FREAKIN MONEY over just a years time…
Im serious, WHOs Coming With Me!!!
I’m in but I need a solid trading system first. There are flaws with all the methods you posted.
WoooHooo,
Yeah, your tellin me,lol…
We just need a simple, easy system, that we can network together with…
Im not talking 100 pips a day, Im talking a system that will net us 15-20 pips a day…
50:1 leverage, 80% margin, stops shouldnt be an issue, as we will try to snipe the price, In and out, 1 trade a day.
Im having a really bad time with concentration, I have alot going on that is stressing me out, and I need change ASAP…
Im pleading, more less…
We can work out a plan together, and even demo trade it for a week, and see what we have…
This is a journey, and I think we can succedd by putting our heads together, and stopping ourselves from doing wrong, together…
You follow me?
I will even set up a private forum with chat that we can communitcate together…
Lets make this happen…
I need the help…
You’re in the wrong state of mind to trade. But it can also serve as an escape for whatever your’e dealing with. Just be prepared for the worst. Forex failing and you back to square 1 along with the loss of time. I’m down for collaborating. I’m trying to get rich too.
First problem I see already is with the 1 trade a day. If that one loses, are we done? If so, how do you plan on dealing with our weekly/monthly pip goals? Do we just trade without worrying about the goal and see if we hit it? The system I’m working on right now is to place as many trades as possible using price and time action. If I see a trade above 50% chance of success, I’m likely to take it. I live in an inconvenient time zone so I place 1 trade a day per pair across 20 pairs (but usually only end up with 4-8). I realize this probably isn’t the best way to trade but it’ll familiarize me with the markets quick.
Excellent kashix,
Valid points…
The goal is 5% a day… The risk is 5% a day… So we will only take 1 step back, regather, and go on with the next day… If we have more trades per day, great, 5% isnt fixed, I have days where I come out 15% a day… But I dont have accountability, as with a team, we will, or I will…
Im talking filthy rich kashix, and it can be stressfree and easy with the proper clogs in the machine…
We need specialty traders, some good at pivots, some good at S/R, some good at fundimentals, ( my weak point) Snipe the price…
The key is being right more then being wrong… It can be done, like a fine oiled machine…
Masters in certain aspects of the market…
I have butterflies right now, Im very close to change…
We start small and let it snowball… We will get to the point we wont lose…
The key is, never lose more then what you gained the day before, so we can regather and continue the plan, but never taking more then 1 step backwards…
Its not impossible kashix, but if we dont try, we will never know… As a group, we can make every dream come true… I just cant do it alone…
you follow me?
even something simple like this, but if we have more info input, it can be powerful… This is something i came up with, using the 5am, est block, because I wake up at 6am, est I devised this plan…
I like your drive man. But sorry to break it to ya, I’m no expert in anything. I’m as newbie as they come, as far as my results go at least. 
I’m down maybe 30k in forex from bad trading. My strong points are that I’m resilient, got good instincts, and soak up info like a sponge. 1 Minute chart is definitely interesting. I like the idea. I’m gonna fool around with it. If I get something that I feel like has good traction, meaning I can feel the results coming in based on my ability and not luck, I’ll definitely share it with you.
Sure you can. Change your account from mini to micro
Ambition, Open Mind, and Want is all it will take…
Forum Open, ready to roll…
Im up 2.4% today, lookin for the rest at 3:15 EST when the fed speaks:57:
not much movement on EU and didnt trade AU today, Im new to AU pair, still learning it…
But learning some good things about it…
This is very possible,
If you spent half the time you’ve been frustrating yourself trying to get 5% a day, by looking for 5% a week instead, you already WOULD have made a LOT OF FREAKING MONEY.
I tell you what… I am in your shoes when I first started. How many times I revised my spread sheets as to when I will be a millionaire?..maybe 8 lol. Writing down the numbers on pips/percentage on paper is good however you are focusing on this ONLY but you forgot the key ingredients on “How to” get it. Dream big is great…infact we should all dream big BUT learn to separate yourself as a person who is a dreamer and learn to be a Go Getter.
I know reality sucks! but you have to plan out your worse case scenario. Every trade is different. Market shift from left to right, up or down. If I were you, focus on the startegy first and see how many pips or percentage you can actually bring in “on average” then revised the spread sheet and put in the “Actual” pip/percentage and see when you can be a millionaire. Consistency is the Key. What if you cannot hit 60 pips a week or 250 a month? What if you get sick or there are something going on in your personal life and you have to take a break? What if you are facing losing streak for a month or 2? We are not robots, we are humans. Our pschological mind will test you…every trade is always a test and it doesn’t care what you put in your spreadsheet. We can all “forecast” what we can make but the “Actual” numbers that you can actually bring in will tell you the reality.
As the saying goes, [B]“plan for the worse and hope for the best”[/B] is also apply in trading…IMO.
Thanks for the input, Im done for the day
I gratefully respect everyone here, and you know that, and you also know, Im a renagade traders…
The worst case senerio, is I lose a day of progress, IF I STAY ON THE PLAN…
The point is to snipe, and be sure, and you also know, when Im hot I get HOT, but I waver of course, and I have to stop that, as to why accountabilty with a team, is what I need, and a tad of excitement…
You guys seen me go 144-1 before, and if I had not moved my stops, I would be a fantastic trader…
You guys know me, Im almost peakin around that infomouse corner…
:57:
The Go getter IS the Dreamer, If you cant Go get it, your dreams are just dreams.