It depends on how many trades, and whether it’s a statistically significant number. And it depends on other stuff like the position-size as well. And especially the spreads/commissions. +1200 points doesn’t look so clever if you’re scalping for 1 pip each time, and haven’t deducted the dealing costs of 1.5 pips and/or slippage of 2 pips per trade, does it? And if it’s over a small number of trades, it may not be reliable enough and the next 5 trades might all lose?
I’m not saying I imagine all that’s so, just explaining why Charlie’s right to mention that “it depends”.
Very amusing. (At least I hope it’s meant to be amusing!! ).
ehm… no? wasnt meant to be amusing. you want to tell me you aint got 10k spare money laying around? heh… then you are definately in the very wrong industry mate
One of my best friends is a financial controller so I got him to create a spreadsheet and run the data through there. I then manually back tested it to check the spreadsheet numbers were correct .
I forgot to mention that return is with 1:100 leverage. If 1:1 I think It works out as about 10% return. Add leverage in it goes stupid percent.
Some discord I have. I don’t think so 10 months is a big deal to ensure maximal result by any specific trading strategy. Minimum 2 years needed to earn 70-85% profit if you works in a specific trading techniques. Please don’t take it personally , I have said according to me
€10,000 is too much money for someone who has never placed a live trade to play with. A mini or micro account, trading in single lots is more useful. I remember losing hundreds of dollars in live trades as a newbie, just because I didn’t know the quirks of the bisiness. And then I took my own advice. I traded a micro account to get familiar with live execution.
I have never found at any beginner trader who already successful by large amount in Forex. as a newcomer I always thinking $5000 is the perfect amount to earn maximal result. But when I kicked off live account with $3000 fall a great trouble and ultimately lost whole balance. Overtrading , hedging , revenge trading , emotions and lack of discipline was the main reasons for losing. That’s why I always prefer micro account then large amount for newbie.
As a newbie, I believe that it makes a lot of sense to trade with a micro account & start off earning micro profits. If you start with $5k and lose almost all of it in a short period of time then that’ll just help them to quit faster