Doesn’t matter about the money made, that is a great return on your bank.
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Not a lot going on today. Still need to pack bags.
Been trading clients account today. You know how it is. Pics or it didn’t happen.
Around £10K up currently. Its happening.
Now that’s money. And trading. Well done.
Everyone’s probably heard this before many times, but you need money to make money.
And I keep going back to ROI on time. You can make decent cash, every single day, doing what you do, if that’s for you.
But I can’t be eating pizza, relaxing and making money with that method.
Unless I have a proven strategy that just works, I can enter and then I just sit back - of course not everyone has the luxury to trade multiple accounts for high net worth individuals and split the profits 50/50 either.
Well. I’m with you on all of this that’s for sure.
For me anyway: it’s nice to post % gains for bragging rights. But the rubber meets the road at the monetary value. I see this all over here and every single day. +1 000% means nothing to me if it’s on a $10 account. But then I guess it does mean something if you’re to be showing ROI to clients. And of course sustaining the said +1 000% is another story altogether. So comes back to needing capital to trade like a professional and not like an amateur at 1:50 000 000 leverage and risking the farm on a single trade.
Nevertheless. Nice. Wish it were mine (given that it’s in GBP!!! LOL!!!) (and I’m figuring the capital in the account is substantially more given the little I know about your risk management)…
You are spot on. It still doesn’t mean anything even if you are showing ROI to your clients.
At the end of the day its money we are talking about. Cash is king. We all need money to put bread on the table, or pizza on the table.
If someone is making 1000% gains on their $10 account - fair play to them, but then its time to pull up their pants and start putting their money where their mouth is.
We all know its very easy to trade a demo account and have a massive drawdown and still get a good nights sleep. Why? Because we know its not real.
Try having £50K drawdown and getting a good nights sleep.
Yes this is one of my biggest accounts. It’s not anywhere near £1M but its more than £400K.
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Personal question if you don’t mind. Why manage other people’s money at all if you’re able to make very good returns? That’s an issue I am thinking about lately.
I cannot speak for @The_Baller obviously. But I personally can think of a good reason. You know my current situation. Wouldn’t be so bad if I was managing a big account and taking 50% (I’d even settle for 10% at this stage) of the profits made over a period of time. And I guess in the long run: a person could do this until they’re eventually at the stage where they do indeed have a sizeable account and don’t really have to bother with anybody else’s drama and money.
I’m being offered funding lately left and right. But I don’t think I could perform as well with so much larger capital. So it’s something I’m thinking about and would like to hear insights from other people. I tried trading (local stocks) with other people’s money and it was so much harder than trading my own money
Of course trading your own money and trading someone else’s money are completely different. One of the factors being you are now accountable to that person and it may make you trade differently.
When its your own account you’re more relaxed, even though you’re accountable to yourself, it doesn’t feel that way.
Trading a much larger account comes with the assumption you should be making much larger returns - that’s where things start to go wrong.
Ah. That makes sense. Here I am restraining myself from adding profits to capital because of the risk to me. Might have to calibrate my mind though were I to trade other people’s money as it would come most likely to friends and family, more comfortable to lose my own money than from other people.
As selfish as it sounds, its the risk.
- Do I want to risk my life savings in my account? No. Some, but not all of it.
- Do I have access to high net worth individuals with liquid cash? Yes.
- Can I convince them to take the risk and split profits 50/50? Yes.
That’s about it.
Yeh well. If you dudes have any surplus high net worth individuals be sure to give them my details.
I’m not in the +500% per day club as you all well know. But you all know what I’m doing and how I do it i.e. my ar*e hanging well out in the air and exposed on my thread!!! LOL!!! But risk is low, drawdown is low (nowadays), but then so are the gains of course. It’s all relative I suppose. Guessing my trading methodology and style probably suit your conservative type. Still. Way better than a bank though let’s face it.
You’d be surprised, there are many people out there that just want very slow and steady growth - but like you said its better than what the bank gives.
Ah. I think now I understand this experiment of yours.
Not sure I 100% agree with this statement. I do marvel at some that balk at 2% - 5% per month. I think the highest you’d get here is 12.5% per annum at a bank and as far as I know that’s pretty high (but of course we pay serious interest too). So even a paltry 2% per month here is still good. Talking from an investment or savings point of view obviously. But of course one has to weigh up or quantify the risks involved.
Anyways. Whatever. As of this morning my life got t-boned by the equivalent of a fully laden freight train at 200km/h. So bottom line really is that on a minute-by-minute basis it’s sure starting to look like this is no longer a means to tide me over for a few months but rather the only thing that I can turn to in order to survive. Caught between trading and a gun to the head. How do you like that one. Talk about living on the edge. Anyways. Suppose I’d better get to it i.e. try building up a business here. Truth be told it wasn’t that far removed from my longer terms plans for the future anyway given that what I’ve been doing for the last few years is no longer an option. Just didn’t expect it to become an immediate requisite in life.
I meant if you’re making big gains on a diddly squat account - its no benefit to anyone. Unless you’re using it to build a track record and then go on and trade a decent size account.
What’s the deal with your trading? Do you have just one strategy that you stick with or you’ve got multiple things in the bag?
You must be able to mix it up to start getting the cash flowing in surely.
Only one strategy. Day in and day out. Been trading it off and on for the last five years or so. But on a part time basis. Now and then will take trades based on two other trading systems but those trades are very sparse and few and far between.
Not sure about how to go about the second part. Only thing I can do is plod along, keep posting minute details for as long as I’m able to hold on, and maybe somebody gives me a shot. I’m at least confident in what I can (and cannot) do now. And is seems as though the ESMA (all hail to them) has been instrumental in exorcising my last (last known anyway) demon (over trading). So yeh. They say everything happens for a reason. Never really been one to buy into that sh*t. But who knows. Certainly not I. If anybody had told me six months ago that I’d end up in my current situation I’d have laughed at them and told them to get on their bike. So evidently I don’t have all the answers.
You made a lot for a 38 pips, what a size.
Still way to go for me. Congrats by the way.