Well, but you had to get to this point somehow during these 10 years of trading? What was your approach before? Also, I wonder why if you analyse markets on monthly charts and entering trades on weekly, what makes you close the trade with 25-30 pips? You could do more if the nearest S/R zone is far away.
Asking for profits you mean? 
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I kind of agree with this statement as the problem here is not having app installed in mobile device, but psychology. The more opportunities you have checking your trading station, the more possibility you have to screw your balance
Tight stops, getting pinged out.
Sometimes it just doesn’t take off like you’d expect so you close. This whole thing was just an experiment to show its possible to make a decent return from £10K so I have to close them to bank profits.
If I just held for several weeks, this thread would be pretty dead.
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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.