My kitty 2 cents would be to figure out where the 5% is cammin from. 5% of a big account would be nice and feasible if it is substantially lawwger than your average monthly expenses and some contingencies.
Take the 5% gain you have, cut it in half.
As ol’ Livermore said, we chop da gains in half!
Is half enough for you to live on for needs wid a wittle extra for wants? If yes, assume the other half is for portfolio growth or alternative kitty investment. If we take a 10%(?) drawdown (for emergency/ unexpected booboos) in da middle of a given year, are we still kitty alive? If yes, then you may have reached kitty freedom! Good luck and enjoy! 
Hmm, I must be very old or very poor or both. Last time I looked I knew about one person on earth that “needs/wants” $27K per month (£20K+ per month) unless you live in London and have to fork out a repayment mortgage on a £4M penthouse. A touch of realism on both portfolio start capital, and on monthly gain (say, halving it to 2.5% which I would be over the moon with). So halving capital to $500K and halving gain to 2.5% ($12,500) you would have to survive on a pittance of $6,250 per month in order to save 50% to compound the bank. Oh, that’s £57.7K per year before tax. Beats a state pension.
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So now I am confused. Forex Peace Army Reviews | Read Customer Service Reviews of www.forexpeacearmy.com
Please send me any link to a scam thread that I can rebalance my fake news / fake news dilemma
Depends on your expenses, interest rate and intertemporal consumption. For example if you can be frugal for some time now you can consume more later thanks to compounding. Or you can prefer to smooth your consumption in time (i.e. maintain at some level), then it may be worth to increase spending in income. It is not a trivial task and of course depends on our consumption habits and preferences. For example I withdraw 500-600 USD of my trading profit monthly and the rest is reinvested.
Just put forexpeacearmy into the BP question search. There are plenty of comments in threads.
@Johnny1974
Hi and thanks for response. I looked at the entire first page. Only one of those threads is current year and that was a response to a thread started in 2017. It was a member recommending the newbie visit forexpeacearmy. Is there a specific thread, then, that either refers to “Russian Mafia” or that makes accusation that ForexPeaceArmy is to be avoided? The reason I ask is the same mindset that I am learning on BabyPips - don’t take anything for granted and get evidence that an indicator is true before entering a trade (in this case before entering any discussion with any broker regardless of what is said about it on the (non-fake news) internet.
@Mondeoman
Just go into thread Sept '18 ‘Forexpeacearmy Scam or not ? What you think !’
Google Dimitri Chvavkerov Forexpeacearmy.
Tough one as few of us will ever make a good full time income just from forex. I would suggest looking at other income streams as well to negate the bad months you may have in forex.
Hi Johnny, thanks for your perseverance. I have spent about half an hour looking at the links, and I have to agree with you that all does not look well with Dmitri.
Thanks for the heads up. You are my “second confirmatory signal” 
If you have such a plan in life, then you must develop a powerful strategy. Keep your eyes on the market movements and gain more knowledge. It’s true that your strategy won’t work as per your expectations forever so better to back test and switch your strategies.
Good luck.
I also think it is important to pay yourself if you are working in trading even part time.
I think you need to risk some more money in order to make money. If you are only able to pay your bills through your profits, then you are not doing enough.
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It is important that you follow a strategy and keep making adjustments to it as per the trade. Don’t rush into it as the chances of earning profits are not forever high. You might not get regular ‘income’ on it so just be careful.
You need to risk some more money in order to make it work for you.
You can try different strategies on a demo first if you are skeptical about it. Once you find a profitable trading strategy, you can make use of it and stick with it throughout. You don’t always make profits so be careful and make wise decisions.
Daily compounding beats monthly compounding. The shorter the compounding period, the higher your effective yield is going to be, Since the guiding principle behind compound interest is that the shorter the compounding term, the more interest you earn, you would expect daily compounding to provide more interest than monthly compounding.
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For me, making profits on a regular basis is the biggest achievement in the forex market. I have started to pay my bills with my profits. I am planning to leave my job once I start saving with the profits I make.
My plan is to never withdraw money from my trading account until the day when I can withdraw a year’s “salary” at one transaction. Regardless of the size of your account, it never gets easier to generate a given percentage of profit: but the larger the account is, the more capital that percentage is worth.
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