Trade the plan!

[system]

Oh wow, congrats dude. 623% profit is mad gains. It’s good to see there’s a forum where successful traders can discuss without being trolled by losers requesting screenshots.

[PipMeHappy]

Glad to see a sensible discussion on performance.

Most of the time it ends up with someone throwing punches. Well done to all you guys who are clearly doing well. Most people can’t get round the fact that the greedy few have handed the keys to the kingdom of FX to boost liquidity and keep the currency mad house going. You can only take advantage of it because very soon the world will undergo a change which will return all these free floating currencies to a pegged state.

Me and a friend are opening our own 5 figure fund at the end of the year and we intend to run it professionally. I being the one with the Economics background will be actively managing it, the biggest issue is I love my current occupation and I am not sure about being a full time trader for the rest of my life especially when I already do okay. In my short time I know FX trading can change lives it all depends on the individual.

Good luck people.

You are indeed a clever sort

I hope you won’t leave us just as we were getting to know each other

Seriously, I wish you all the best… It sounds like a SENSATIONAL idea!

[defiance888]

Tomorrow marks the end of my fiscal year of trading. I have done extremely well trading my method over the last year. I’ve had 238 trades, of which 91.6% paid off, for a total of 623% profit. This was my best year since I started trading in 2001. It has taken a lot of hard work to get to be this efficient at trading. Most people are not willing to do the work that it takes.
At this time I’d like to give a special thanks and to Bob Volman for “Forex price action scalping” and Tim Lucarelli for “Forex secrets trading from the dark side” their books and gave me a whole new perspective on the markets that I was able to roll into the methodology that I use and have profited so well from this last year.

congratulations.

[anon5370623]

So you trade stocks or forex? I am on the crossroads of what assets stick to - conservative stocks or gamble with currencies…

[emeraldorc]

You are indeed a clever sort

I hope you won’t leave us just as we were getting to know each other

Seriously, I wish you all the best… It sounds like a SENSATIONAL idea!

Hope we can replicate our smaller success. I will never leave you guys… It is fun here. Everyday traders trying to ride the waves…No Way!!!

[sinjon]

Better check your math if you want good equity management. If both accounts were funded with the same beginning amount, and one made 588% and the other made 125%, the total would be more like 356% on the combined accounts.
My guess is that a lot of traders don’t really know their actual profit.
I believe there are successful traders out there doubling their trading account every year, but I also there are a lot of traders out there who are bad at math.

[_bob]

Better check your math if you want good equity management. If both accounts were funded with the same beginning amount, and one made 588% and the other made 125%, the total would be more like 356% on the combined accounts.
My guess is that a lot of traders don’t really know their actual profit.
I believe there are successful traders out there doubling their trading account every year, but I also there are a lot of traders out there who are bad at math.

Lets not worry about the maths , lets celebrate success. Sinjon did you make 125%, 588% or 356%. If not back in your box!

[PipNRoll]

Tomorrow marks the end of my fiscal year of trading. I have done extremely well trading my method over the last year. I’ve had 238 trades, of which 91.6% paid off, for a total of 623% profit. This was my best year since I started trading in 2001. It has taken a lot of hard work to get to be this efficient at trading. Most people are not willing to do the work that it takes.
At this time I’d like to give a special thanks and to Bob Volman for “Forex price action scalping” and Tim Lucarelli for “Forex secrets trading from the dark side” their books and gave me a whole new perspective on the markets that I was able to roll into the methodology that I use and have profited so well from this last year.

Hi Traderbary,

Thank you for this…started trading since 2001? Wow, that is a long time and now you are at 628% total profit this year. Congratulations!

My question to you is, did you start trading part time or full time? If part time, for how long until you are able to trade full time?

Wishing you to continue on your profits for the years to come!

PNR

[Orpexo]

Congratz and thanks for the book ideas.

I was going to ask the same question as PipNRoll about the part-time/full-time. I’d love to scalp, and from the start was interested in short timeframes. But my job does not leave me with enough time to sit in front of a chart for extended periods. And when I come back from work I am tired and not in the mood. I ended up forgetting about scalping and now trade H4 and D1 which are easier to follow when you re not sure when you ll have time to check the forex during the day.

Also, why do you run the blog?

[traderbary]

Sorry for the delayed response, I just realized there was a question here. Do I trade part-time or full-time? I guess the correct answer would be I’m still a part-time trader since I do have another source of income. Although I do quite well in my trading it is a rather large step to give up my second source of income. Probably, if I had it the average run-of-the-mill low-paying job that sadly is what most people end up with in this country, I would’ve left long ago and been trading full-time, however my “day job” happens to be one most people would love to have. For me to leave this job to trade for a living. My trading profits would have to consistently be above $150,000 per year. It would be unwise to jump into the realm of full-time trader until I have accomplish this.
That said, my trading is run as a business as it should be. I trade not only Forex but also equities, and options. I have set time frames that I trade and I stick to my plan just as anyone else would running any other business. I start my day the same everyday, just like a businessman going to an office for eight hours work. I go to my home office from 8 o’clock in the morning to 10:40 every trading day Monday through Friday. After hours I monitor the markets and particularly the euro constantly. If you are to walk up to me at any given time and asked me the current bid for the euro I can probably tell you exactly without looking at my smart phone plus or minus a few pips. I’ve learned how to spot potential trade setups in advance, so that I have enough time to flip open my laptop, which is a Windows surface Pro three and be ready to fire off an order. So in closing I would consider myself not a full-time trader since I don’t rely solely on my trading business for income.

[traderbary]

Also, why do you run the blog?

I think I just answered your question in this thread.

http://forums.babypips.com/forextown/67887-interesting-observation.html