I was blind, Now I see!

Trading Discussion Trade Journals
#1

I started a month ago to learn about forex (I started to learn about investing months before that), forex was the love with the first sight.

However, things have got a little out of hand. Interestingly, coming with a system that can work most of the time is very hard. The market doesn’t have a behaviour, and so pattern recognition is meaningless (that’s my current idea on the market). Momentum strategies seem more appealing, however, they are still weak and unpredictable. SMA Crossovers, or MACD both seem to rely on trends, while sudden movements (like the one after BOJ) are extremely common in pairs. Reversal are also not trust worthy, I thought, at first, maybe, give a huge push to the market (imagining the market as a string) there should be a sudden reverse but this doesn’t happen all the time and if it does the time frame (or bar) of the reversal from the actual push is not clearly defined.

Therefore, as of now I think fundamental trading is the way to go. News play a huge rule in forex, because major banks care about the news. However, interpreting the news is not a one man job.

However, I was wondering what percentage of return can an average forex trader expect?

I know the best hedge funds return something around 20% (if they REALLY DO as most don’t), therefore something like 2% monthly return is above the market. This means if one person can earn a steady 20 dollar from a 1000 principle, he’s beating the market already. To me on a 1:10 leveraged system, many people think it’s easy to get to that point, however, most of strategic movements I’ve made, has NOT lead to such an outcome! I was wondering if anyone has been able to have a yearly return( I know one can earn a lot in day) but I’m interested in a annual average of 30% or more! on an account with 100k or more principle.

Thanks

#2

Just to let you know. Trading the news and fundamental analysis is two different things. I would give the more experienced trader in here to explain why. :slight_smile:

#3

Trader187 did a challenge with £100,000 and I think he pushed it to 10 % profit or so. He was featured in BBC’s “Millions by the minute” which you can find on youtube.

Here’s his myfxbook: TrillionaireStateOfMind System by juzzy187 | Myfxbook

#4

[QUOTE=“Nikz;763535”]Trader187 did a challenge with £100,000 and I think he pushed it to 10 % profit or so. He was featured in BBC’s “Millions by the minute” which you can find on youtube. Here’s his myfxbook: TrillionaireStateOfMind System by juzzy187 | Myfxbook[/QUOTE]
3% a month i dont count it as profit really anything bellow 30% ayear

#5

It’s easy to think in terms of double-digit percentage returns when you’re on a demo account or on a small real account. It’s different when you’re dealing with thousands of dollars per trade.

#6

Earning double-digit returns on a steady rate, is not only hard, is close to impossible on large initial deposit. Whoever says the other way has not tried various strategies.

The other question is about commission and spread. To me they are both the same thing. just add the commission to the spread and you have the reals spread. Those commission based brokers are actually just like normal brokers.lol, the way they try to distort the reality is funny.

#7

Why didn’t NFP change the EUR/USD? Why there was no surge or down movement of USD at all.
Why at the same time BOJ and RBA announcements had such an impact on the market. It’s strange. Why some news have effects while others don’t.

#8

I know a few profitable traders who earn 5% a day which comes down to 25% a week… and yea you can do the math
100% a month. With a good risk management and risk to reward ratio thats not so hard to accomplish.
One of them started with $500 on april 4th and is now on $4000.

5% a day is possible, I just set it as a goal for myself.
its not hard , stick to a working strategy and stay disciplined with your risk management.

#9

Have they solved world hunger too?

#10

long term capital management had two noble prize winners and 100s of top notch PhD traders, and all the tools. They went bank rust. I still believe it is possible to have good returns (like a monthly 3-5%) but If you think you can have a 5% daily return you are either very lucky, not telling the full truth, or a one in a million genius. That is just a lot of returns, and will end up compounding to insane amounts very soon. Anyways, these types of discussion have been done before.

#11

Yeah most of the people do make mistakes in the beginning just because they are in hurry to make money. But as they gain experience they realise their mistake.

#12

Yeah, I’m leaving forex. The forex market is not the ideal market for me. I might come back, but I don’t think so. Good bye.

#14

most will not answer that question for you. It is hard to find out. This week I am on +3% but I cant get that steady.

I know a trader who claims 10% a month I believe him.
One who is doing 5% a day but also can reach 25% a day also
Clint shows the power of 1% per day and compounding. This with risking 2% and making 20 pips daily ( calculate it! It is amazing)
Someone who is looking for a day yob if she was making only 30%
from 1000 to a million in 117 days
You can find this all on babypips

This guy made 369% Nial Fuller Wins Million Dollar Trader Competition » Learn To Trade

How much you can make? It depends on your system and how much effort you put into it. All the systems that you believe don’t work can actually work. Even flipping a coin can be a winning system!

#15

Hie, I have started Forex learning six months ago. Now i am working on demo account only. I am looking forward for live account soon as i am very much sure that i am good at demo.