Thanks TurtleForex!
I’ve just ended week 4, still got an account with money in it! which I’m working hard at protecting. Still working on finding my trading style. Had a week of scapling - talk about a steep learning curve!! I’m now up to $438.69 – $1,000,000 seems to be a long, long way away. Although it’s not possible, if I doubled my money every month it’ll take 9 months. Hahahahah.
A long way to go? Your only $999,561.31 away!
Way to go Kiwi…just continue to learn from your trades…The TurtleForex.com model acct is +10%…your kicking my butt!
This is crazy, 100% plus in one month, each month. It’s a very nice thought, and ill have a look back from time to time. The only thing you have going against you is the many threads before which also claim to make such insane monthly ROI’s!
Good Luck
8 -12% per month avg here Jezz…If Kiwi is on to something then good for him, I wish him the best! Obviously 100% per month compounded is not sustainable but if Kiwi gets a little lucky for a few months more power to him.
my target is 88% per month, wonder how long it can last
whats you favourite number?
interesting :o
It all comes down to EV (expected value) and draw down. It will take a few months to get enough data for you to determine what that is. Once you know what your EV and DD are you can adjust your risk according to your own risk tolerance.
For instance my history show an average positive EV of about 8-10% per month with a risk of about an 8-1/2% draw down. (My drawdown would be less if I don’t go brain-dead, but I have to allow for it because it happens…hehehehe)
Since my trade size is always about 5X my account balance (5:1), I compound my gains incrementally. At 8% per month compounded this equals about 150% per year with my balance never dropping more than 8-1/2% until my next equity high. If I can continue at that rate for 3 more years I will be about I want to be.
I have had good results for going on 8 months, but there is no promise from the markets that my methods will be profitable for 3 more years or that I can mentally handle trading larger sizes down the road. Only time will tell that.
Also I am not going to say that sustaining 80 or 100% monthly gains are impossible, only improbable. I always say it’s better to be lucky than to be good…
Thanks for your interest and comments.
I freely admit that my current performance isn’t sustainable and 100% a month growth is fantasy. But when you only have $200 to start with you have to take some big risks to get a start (not the best time to take risks when you’re trying to work out how the markets work!).
At the moment I can only put one trade on at a time and can’t build on a good trade due to margin restrictions, which is pretty frustrating. Hopefully in time my monthly growth will drop to more sensible levels as I reduce my exposure. The thought of having $50k in my account and placing $20k on one trade is insanity, but is effectively what I’m doing now, the thought of losing $200 with a closed account is not too big a deal, and is similar, I guess, to running a practice account. More importantly I don’t want to become one of the 95%!
For me, at the moment I’m enjoying learning about all the different styles of trading and finding one that works for me. Learning how to protect your capital has to be the best lesson I can learn (the best lesson anyone can learn!!).
So far my ‘rules’ are
- Always use carefully researched stops (look carefully at support and resistance levels, then put a stop in a relevant place to these levels while baring in mind a ‘what if’ scenario. Also I never leave my desk until my position is covered by a zero loss stop).
- I don’t have targets, I’m not interested in any % per month/day/week/hour, as this can just put pressure on to perform. I just want to trade well and profitably (my journal is very detailed so I know exactly how things are going, and I try to analyse each trade to see what I did wrong and what I could do better).
The rest of my rules are still in development but are starting to get clearer.
Safe trading everyone, week 5 starts in less than an hour… :44:
As I can now post links here’s the link to my MeetPips Blog; Kiwi_PipSqueak’s Channel | MeetPips.com
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