10% gain for today, Done for the holidays, hit the ground runnin next week…
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hells yes
keeping it at that level for your fiscal year
a continuing challenge
well said friend 25% profits seems feasible for a very short term but what matters in forex is consistency rather than one time high profits!
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If you want to be in this game for a long time, nothing beats consistency.
A final update to add to my previous posts. That account started at $3,000.00 in October, it is now at $11,500.00 So doubled twice in about a month.
However, this was not with foreign currency but with futures, but it shows what can be done…
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I’ve heard the power of compounding used by so many terrible get rich quick educators!
Month 1: $1,000 * 25% = $1,250
Month 2: $1,250 * 25% = $1,562.50
Month 3: $1,562.50 * 25% = $1,953
MAGIC! See, with 75% gain, you have practically doubled your money. I say bullshit and think this type of information has new trades focusing on simple maths and dreams of buying a Ferrari and not managing risk and a disciplined strategy.
Anyways, to the question i agree with the majority. Hell no! 25% a month consistently isn’t something anybody can do in the long run. Lots of people can go on a lucky streak, but a lucky streak does not make a full time trader.
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5% a month would do me!
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Ok @Johnno2626 Yep, a lucky streak that ran consistently to a predefined schedule for 51 days…
FYI… this was only a simple experiment to show what could b done with micro funds at risk…$10…
Please… show us your trading prowess and point out where the risk was not managed and the strategy not disciplined in the demonstration in this thread??
Premature Speculation… Another try hard that doesn’t bother reading threads before posting…
$10 to $762 in 51 trading days… is slightly better than 75%… use a calculator next time…
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I agree with the statement.
Ok you won, the experiment has been accomplished. What’s next? Ready to take money into management?
Would you give us investors password so we can see it’s live and gains are real? Detailed trade data will show what is the variance of your returns and then everything will be clear what is the risk that was taken.
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Having a bad day… @ontario?. this was done and dusted months ago…find somewhere else to play…
Must be real quiet out there… dredging up A 5 month old thread to bitch about…FFS
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Hey TWB, sorry if my questions are a bit silly, especially when everyone else here seems to get it…
You made it sound so simple, SW analysis, watch 4 & 1 hr chart, trade 5 minutes, RR 1:1; but what do you look for in a trigger for the entry, is it some kind or price actions / fibo level / supply & demand zone?
And regarding the SW analysis, I see that you are a big fan of Dennis’s SW analysis thread, but if i understand correctly, his ratings works more on the mid to long term and not necessarily suitable for short term trades which seems to be what you are trying to show here, mind sharing how are you analyzing the currency strengths?
Thanks!
do it in a day spread betting the dax
I have identified this as one of my problems… not taking profit. Not having a profit target and sticking to it.
So often I would know I’m in the green, keep the trade on and then ride it into the red. Doing an analysis of my demo trades that I had held for weeks found that I could have exited far earlier with more profit.
My entries have improved, So setting and sticking to my profit target is the next key thing I have to make reflex.
KC
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Hey @frandlost, this is a weakness that can be solved reasonably simply… move your SL to Breakeven… (and/or set a Trailing Stop) position once the trade has moved into a reasonable profit.
ie: Say your AUDNZD position has moved to +25 pips, you move your SL inside the trade, say to +6 pips, which should cover commision, some swap and the spread and return you a small profit if the trade should turn against you… You’ll close out a number of trades early with this concept, but it stops profitable trades turning into raging losses and psychologically removes the stress of open live positions, knowing that your position is safe from drawdown… barring spikes… which does happen.
Hope this is of help.
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I agree with you, all about being consistent
What kind of question is that answer. Yes, it is. But there are several conditions to be met:
- to trade every day;
- to have strong capital;
- to make a specific plan of action for each month and stick to it as much as possible;
- to earn 1-1.5% of the capital every trading day.
It is possible if you are really experienced at this. I mean like having more than 5 years experience. By then you should be able to identify the possibilities and know how to invest properly. Knowledge and skills is all you need, make sure you get as much of both as you can then you can possibly make that much.
Yes I agree good advice
I tried opening a XAUUSD trade but I was told I had insufficient balance