Absolutely - hence my comment in post #19 - if you can match the S&P500 but with lower volatility, then you’re doing well.
Funds aren’t that much different to retail for the most part - the majority of them fail, sooner or later.
Regards,
Nick
Good luck with that. If you cannot learn to accept and take losses, then quit now. Seriously. This business is not for those types of people. There is no such thing as a “never lose” system, because all of them have an expectancy of zero.
Even if you trade unleveraged with no stop losses, you will be sitting around for years or decades waiting for your position to come back to break-even. You cannot withdraw money from your account while you still have open positions. Your money would be better off in an S&P 500 index fund at that point.
Trading is a very boring profession… I would pay my boss so I can go to work 
I think 5% is a realistic monthly return however, not every month you will get this type of return. There are times you will get 10%, 15%, 20% or -10% or maybe none. The first 2-3 years be content either you are break-even or less than 20% (in profit) in a year but from then on…its up to you.
I honestly thought my sarcasm was laid on thick enough to tell that post was written satirically. My apologizes to you and anyone else that simply read the words. LOL
I made at least 19% profit in 4 out of 5 weeks from June 1st. My only weekly loss was a 1% loss and my highest weekly profit was 65%.
I have been trading forex for a year now, and when it comes to forex terminologies, all of you are smarter than I am as I do not know anything about elliot waves, renko, EAs and what not, but yet, you don’t have the profitability to back it up. This shows that knowing too much can be harmful. There is a limit to what you must know because if you know more, you’d be biased against making an eventually profitable trade and this can ultimately hurt your account.
I am profitable because I know nothing.
Just let that sink in…
Aceofpips,
What is your general strategy?
The strategy for 65% profit in 1 week = over-leverage yourself to the point of degenerate gambler status.
Or maybe you could invest your time in understanding the market movements instead of backtesting a holy grail trading system, so that even if you achieve “degenerate gambler status”, you could be a [B]profitable[/B] degenerate gambler and have an edge over the market.
I regard trading as a passive income. So 10-20% monthly return would be a great ROI. Well, the first of small step of becoming successful in trading is to have a goal. Most people just want to get rich. But how much rich is rich? If you know what I mean. You mush explicitly define how much money you expect to generate with trading. A million dollar? With how much capital to start? In how many years? Figure out these things first. Then you will see a clearer path ahead!
If you consider the fact that 95% or more aspiring traders blow out their entire account that would mean if you even show one penny profit per month are doing better than 95% of those attempting to trade Forex. To those of you that think you should trade without a stop, save yourself the time and the misery by just taking the money out of your account and just giving it to Traders like me because we are going to end up with anyway. In other words sorry if it sounds harsh. But if you trade without a properly placed stoploss you’re the 95%. There is no exception.
ForexUnlimited and I agree about a lot of things. We disagree to. This is one occassion. The beautiful thing about forex trading is that your only limited by your own experiences and imagination. Have the dream have the conviction and many things are possible. Leverage is an important tool but as a trader we must understand its power. Yes over-leverage has the power to blow up an account but if utilized with respect it can quickly grow an account. I trade with a 5 pip SL usually looking for 5 to 10 pip profit. Without leaverage I could only gain 0.01% profit. With 100:1 leverage I now gain 1%. Now its worth my effort. It comes down to a razor sharp edge between profit and greed. The moment you start to get greedy, the market will take you out.
I use a 50:1 leverage, but I trade my entire account. I created a set of 8 conditions that I traded and I determined a SL to minimize loss. During this week in question, the market fulfilled 5 or 6 of my conditions and so I traded and made money. It is foolish to call someone a “degenerate gambler” without knowing any details because he has achieved what you cannot achieve. [B]But hey, this is the forex market where the profitable traders are in the minority and so, the traders who lose money talk like they know what they are doing.[/B]
Okay, and with no proof of yourself actually making these insane returns - as far as I am concerned you fall into that category as well.
I wonder why a new account has popped onto the forum and within a few posts is already talking themselves up in several threads. We will hear a sales pitch soon, of that there is almost no doubt.
A quick Google search shows a (now defunct?) trade copy service going by the same name “aceofpips.”
i’m in the negative but hope sometime I can go positive
Sometimes the pot must be careful in calling the kettle black. I have a lot of respect for forexunlimited.His views and willingness to share his knowledge commands that.
Very interesting google search
I’m off to work now, but when I get back, I’d provide you with a screenshot as long as it does not jeopardize my trading username.
As for your google search, it’s really interesting because this is the first time I am ever using this name and I chose it as a wordplay of AceofSpades but with pips, then again, there is no idea that has never been thought up before.
I find it very hilarious how losing traders refuse to believe that others can be profitable in this business because you can’t. And I popped up here because I wanted to let you guys know that more than half of the things you know are not necessarily in succeeding at forex. Forex is simple. You can either buy or sell and then make money.
But your screenshot is coming later today, unless I change by mind about convincing a bunch of losers.
You vs you. Couldn’t be closer from the truth! Personally, I’ve always felt uneasy when some friends asked me the same question. I think it’s not something to have on your mind when your endeavor is to grow. If you come to trading with greed in your heart and numbers in your head then you’d better be strongly prepared to meet with yourself…
keep calm and don’t feed the troll.
Wat abt your money management and leverage you use??