Hi guys, I was just wondering if such a result is realistically possible/achievable and can it be consistent? Because if it is one can become rich in just few years…
In case you believe its not achievable, how much do you personally think is possible to make per day/month in ROI % in a consistent manner?
Thank you for your responses!
Sorry but NO
Of course it’s possible! There’s no reason it wouldn’t be if you were day trading and keeping loses to a minimum.
It’d be hard, and it’s not likely but it’s possible.
I’m not a trader yet myself
But i what i’ve heard over the last months is that making 10% ROI per month consistent is kinda hard.
Even with 7% a month you can become rich faster then u can handle.
7% will result in doubling your money in a year, do this a couple of year (depending on start capital) and here you go.
take a look at the forum thread name: What Every New & Or Aspiring Forex Trader… Still Wants To Know
What if you have 100 loses in a row?
What if you have a 100 wins a row!? Or 1000!?
I just said that it was possible. Not that it was likely. Exceptional traders exist, but they’re just that: Exceptional. Not the norm.
So I stand by my statement that it’s possible to achieve the sort of results the OP is talking about. Some people will!
Oh, and if you have 100 losses in a row, you probably need a new system.
IF you can master the skills required to be a trader you should definitely be able to make that much, look through the forums, you’ll see even newer traders making 5-10% a week without much risk
Toot Toot,
My lips are sealed for this thread, ( duck, tomato)
Sorry again but no. Having two wins in a row is difficult, in fact having a win is difficult. If you have a 20:1 ratio maybs but one sinlge loss might take 20 wins to get it back. Changing the system? Hmmmm that will not do, if you have a system with more than 20% of wins I buy it. Any strategy has no more than that and I am profitable because I don’t take all trades that system gives and I let profits run. My objective is to trade propperly and havea positive balance each month but not a fixed delutional earning epectation. Again, sorry but no.
I use several systems, and their current win ratios are 39.66%, 41.67%, 58.33% and 42.86%. This is only for closed trades, if I was to close all my open trades these percentages would increase (other than the last - no open trades with this system at the moment).
I don’t think I’m the only one here who has these positive results. To add to this my biggest percentage winner also averages 189.06 pips per trade.
I don’t need 1000 winner in a row, and while my longest loosing streak on any one system is 9 trades, I’ll happily keep following them.
Yes, it is possible to have a 17% return in one month. I have done far better than that in the last month, but I’m not consistently better than that.
May I ask your RRR? Sorry but i m sceptical.
You would be in the wrong business.
I consistently make 20%+ PM. Aim for no more the 20% DD.
I dont have a problem with the numbers, personally I think they are on the high side, but realistic for most retail sized accounts. The issue is consistancy. Achieving any number per day consistantly (even a consistant loss !) is practically impossible. Similarly achieving x% per month just isnt achievable, and it doesnt matter if x is -5%, 0%, + 5% or +15%
[B]
Averaging [/B]17% a month is a very different proposition. Over a year you might expect to see a couple of losing months compensated by a couple of months well above the average.
Precisely, that is my point.
consistently thats the word we all look for, ofcourse you can 17% a month maybe 1 or 2 months but consistent those results is going to be very hard.
Look at you! Getting smarter everyday! Haha
What point? You didn’t explain anything?
17% a month is do-able, in Simbafx’s sense. You’ll have lower or even losing months, compensated by above average months throughout the year.
Hell, I’ve done 17%+ in a week before, and I’ve also done much, MUCH worse in the past as well. But thinking of long term, it’s do-able.
Personally, I am going for 22.5% monthly, add an extra “0” onto my balance every year. Do I make that every month? Hell no. Do I exceed that on some? Fortunately, I do. So at the end of the year, ~22.3%/month is attainable.
Never say never. It’s do-able, but you’ll probably need to trade multiple currency pairs or stick to the lower timeframes to increase your number of trades.
Lets say your system has an expectancy of 0.2R. According to my calculations, at 2% risk per trade, you’ll need to to trade 40 times to turn $10,000 into $11,700. Does 40 times a month sound too much? That’d be about twice per day.
Sorry, what is RRR?
Risk to Reward Ratio
Or
Reward to Risk Ratio
