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What is your weekly return?

  • #61
  • Apr 12, 2011 6:58pm Apr 12, 2011 6:58pm
Quoting ohammond
LOL now that is silly. I am averaging between 80 and 120 pips per day to make that 2-3% because I am only using half a percent risk per trade. I watch 3 currencies for setups so thats an average of around 30-40 pips per day per currency. I trade for around 8 hours a day. If I couldn't get 30-40 pips a day on each currency day trading with the amount of practice I've had I would be ashamed of myself. As the Captain has said we are talking a big difference between a 100 pip stop loss and a 10-20 pip stop loss.
What is your position size, if you don't mind me asking?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #62
  • Apr 12, 2011 7:00pm Apr 12, 2011 7:00pm
Everyone knows about trade explorer in their profiles right? You just put the investor password into the platform and it will keep track of your MT4 history.

.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #63
  • Apr 12, 2011 7:01pm Apr 12, 2011 7:01pm
Quoting The Captain
Ok well I am starting to see why you guys think the way you do about gains....
What is your position size, if you don't mind me asking?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #64
  • Apr 12, 2011 7:43pm Apr 12, 2011 7:43pm
Quoting LasVahGoose
What is your position size, if you don't mind me asking?
I have already said I risk 2-3% of my account per trade on average. Sometimes more sometimes less.

Using a 10 pip stop, 1% risk is 1 lot for every $10,000 in your account.

If you check my last post, I posted a chart in my regular thread of a trade I'm currently in. I risked 2% of my account with a 6 pip stop and I am currently up 20 pips and counting. That is a 7% gain in my account in 45 minutes. I do this day in and day out, and many others do it far better than I do.


So what happened to all the people who were saying someone making 5% per month was full of shit?
Cap
  • #65
  • Apr 12, 2011 9:35pm Apr 12, 2011 9:35pm
Quoting The Captain
I have already said I risk 2-3% of my account per trade on average....
So you trade 2-3 lots? With maybe 30K account? When you start trading 10-50 million at a time let me know if you can still pull off 50-60% per month.

Not trying to bag on you dude, I'm just saying in general these crazy % / month numbers eventually come to end when the account and trade size start to get up there. Making a 100% a month on a $200 account is one thing, 200 million is something else.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #66
  • Apr 12, 2011 9:36pm Apr 12, 2011 9:36pm
I think it's realistic to make between 2-10% per month, if you are serious and stick to the rules..

Now, if you think that being realistic, is making 5% per year after all your hard work, then I recomend you put your money on a trusted bank with a "TIME DEPOSIT", and you will make 5% per year for doing nothing and let the money sit there. Altough you could not fight inflation.

If you are going to work hard in forex, sitting in front of computer all day, then you should expect more than the average time deposit in a bank.

Carry trades can also be an alternative to this.

Some guys also say that they made 90% during last month, but when they tell you they have an account of 500 bucks, then you can understand why they did 90%. No way they can do 90% with a standard account, period.
The Black Swan: The Impact of the Highly Improbable
  • #67
  • Apr 12, 2011 9:41pm Apr 12, 2011 9:41pm
Isn't a bank deposit on a per year basis? If the interest on the savings account is 5% then that is 5% per year. Maybe I missing something.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #68
  • Apr 12, 2011 9:58pm Apr 12, 2011 9:58pm
Quoting LasVahGoose
So you trade 2-3 lots? With maybe 30K account? When you start trading 10-50 million at a time let me know if you can still pull off 50-60% per month.

Not trying to bag on you dude, I'm just saying in general these crazy % / month numbers eventually come to end when the account and trade size start to get up there. Making a 100% a month on a $200 account is one thing, 200 million is something else.
I disagree. I have been slowly increasing my position size for the last year, and my win ratio has only been going up. I don't even see my balance or profit when I'm in a trade, only pips. There are guys in eohaters thread that were trading 60 lots per trade a year ago, probably much more now.

Placing a trade based on a % risk of your account should not matter, whether that is 6 lots or 60 lots. And that is what makes a good trader. Focus on the trade and do not worry about dollars up or down. This is something I am very good at.
Cap
  • #69
  • Apr 12, 2011 10:11pm Apr 12, 2011 10:11pm
Quoting LasVahGoose
So you trade 2-3 lots? With maybe 30K account? When you start trading 10-50 million at a time let me know if you can still pull off 50-60% per month.

Not trying to bag on you dude, I'm just saying in general these crazy % / month numbers eventually come to end when the account and trade size start to get up there. Making a 100% a month on a $200 account is one thing, 200 million is something else.
I think it's more like 2+ lots per $10k from what I gathered. Tight stops equals more usable currency to trade with when dealing with margin. Before someone says that is ridiculous with x losses in a row it's intraday trading, which is a hell of a lot different than swing or long term trading IMO, think about the risk, trading style and capital.

I don'y understand why posters on here assume no one ever pulls money out of their account. You really think that these traders just keep compounding their account? It's the same thing as saying if you make 20% (or whatever) per month you would have more money than Buffet or Soros in a few years. I have read it numerous times on FF. These are ridiculous assumptions. IMHO, it's too risky for me to keep my money in a broker's account if it's not needed and why trade anymore than what your comfort level is. Every month said trader may start with the same amount of capital as before.

Not trying to pick on the poster, but I just don't get why people make these assumptions, especially when they are suppose to have "vouches" for knowledge. Maybe I misunderstood your point.
  • #70
  • Edited 10:26pm Apr 12, 2011 10:16pm | Edited 10:26pm
Quoting MNFX
I think it's more like 2+ lots per $10k from what I gathered....
This whole thread has missed the point. If you people want to believe that making 40% per month super simple with no effort, that's your business. Putting this crap in the Rookie Section, trying to tell someone new to trading they can do it with no problem is totally a scam.

Let me guess, you guys will be starting your hedge funds next with 100% - 200% return year over year for the rest of your investors life. LMAO. You guys lay it on pretty thick. I think the B.S. has gone from ankle deep, to knee deep to waist deep now.

EDIT: The thread was started by a 4 poster. Please.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #71
  • Apr 12, 2011 10:36pm Apr 12, 2011 10:36pm
Quoting The Captain
That is a 7% gain in my account in 45 minutes. I do this day in and day out, and many others do it far better than I do.

So what happened to all the people who were saying someone making 5% per month was full of shit?
Go under your profile and setup Trade Explorer and lets see you make 7% every 45 minutes, Mr. day in and day out.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #72
  • Apr 12, 2011 11:42pm Apr 12, 2011 11:42pm
Quoting deepblue44
To Nubcake and The Captain....I applaud your efforts but you are better served focusing on your current successful trajectory than dealing with these people, they will never get it. As the very apt. and brilliant saying goes..." Everybody thinks their opinion matters, it doesn't....don't argue with a nobody, a farmer doesn't bother telling a pig his breath smells like sh!t ".

Best of luck to you gents.
this was merely entertainment whilst battling insomnia. they have their ways. the stances are clear, and quit frankly i think i covered it all in my first post here. some get it, some don't... and everything from one extreme to the other has been revealed. it's all there for everyone to see.
Congratulations ScalaFX for coming out of the closet!
  • #73
  • Apr 13, 2011 1:31am Apr 13, 2011 1:31am
Quoting LasVahGoose
Go under your profile and setup Trade Explorer and lets see you make 7% every 45 minutes, Mr. day in and day out.
Good idea. I also think the ones claiming to have such astonishing returns are also the ones who should prove it.

As in the real world, if you claim something unbelievable, you should prove it for others to believe. Talking about it and pointing to a thread doesn't prove anything.
  • #74
  • Apr 13, 2011 1:34am Apr 13, 2011 1:34am
Quoting LasVahGoose
So you trade 2-3 lots? With maybe 30K account? When you start trading 10-50 million at a time let me know if you can still pull off 50-60% per month.

Not trying to bag on you dude, I'm just saying in general these crazy % / month numbers eventually come to end when the account and trade size start to get up there. Making a 100% a month on a $200 account is one thing, 200 million is something else.
My last post on this thread because I think it's a circular argument that will never cease.

It's unsurprising that long-term traders don't believe that the returns mentioned are achievable. If you have never traded intraday, you would have no appreciation of the fact that the analytical process you go through to enter a trade that lasts days is one that can be done almost as well on very short timeframes.

I say almost as well because I am actually a firm believer that the longer timeframes ARE more reliable. Just not so much that it is impossible to have an intraday edge.

My average trading day is between 10 and 14 hours. Long term traders may not even spend that much time trading in a month. This is your fundamental difference. I probably trade far more hours than most city traders too and clearly more trading time with any sort of edge will give you more overall profit potential (if you are designed to trade those hours effectively). I don't suspect that it'll change any hearts and minds here but you really must think about that logic before jumping to sweeping conclusions.

But, here is the vital thing to note for new traders reading this. It's hard. It's actually really hard. Emotionally, cracking trading is an absolute rollercoaster and just because there are a few people around that have managed to regularly achieve 10%+ a month, month in and out, it's absolutely likely that you won't be able to match them. In my opinion, it takes a certain sort of individual to make it as a successful intraday trader and you'll never know if it's you until you give yourself a chance to fail.

Finally, I concur 100% about big returns being unsustainable long-term. However, I’m not sure that anyone has suggested that it can be done with a £50m account, a great many FT retail traders will be living off a significant proportion of their gains and may infact be growing their equity slowly. But, when I get to £200k in my trading account, I’d probably be lowering my risk to 1%. Over £1m, I don't believe I’d even be risking 0.5%. I wouldn't need to so why risk more than I need to be very comfortable indeed? But, I don't think this is really what we're talking about here, what we are talking about is trading small or medium sized balances for the average retail trader and I’d hate to think quality, aspiring retail traders are put off from believing that 10% a month (or actually a great deal more) isn't a regularly achievable goal during the early days of FT retail trading.

Apples are never best compared against different fruit.
  • #75
  • Apr 13, 2011 1:49am Apr 13, 2011 1:49am
Quoting Custos
Good idea. I also think the ones claiming to have such astonishing returns are also the ones who should prove it.

As in the real world, if you claim something unbelievable, you should prove it for others to believe. Talking about it and pointing to a thread doesn't prove anything.
on one hand that's perfectly true and called-for. the flipside, however, is that no one at all cares about someone making a handful of trades and making 50% a year.

see how that works?

i will not be trading any more money than i have until i prove to myself i have a decent edge and am not just playing games wasting time, energy, and above all opportunity. this isn't vegas, unless you make it that way.

the truth is that you do NOT want to see someone prove you wrong because that would dwarf your own personal efforts and accomplishments (if they even are).

i'm not picking on you custos, just the mindset that makes no sense. reach for the stars, man!!!
Congratulations ScalaFX for coming out of the closet!
  • #76
  • Apr 13, 2011 1:55am Apr 13, 2011 1:55am
Quoting nubcake
on one hand that's perfectly true and called-for....
since you guys are all trading intraday, there will be at least 200 trades if not more per year.

Why instead of talking, you don't setup this trade explorer thing and show me. Then I will rethink my whole stance on trading. Without proof I and many others won't believe you, no matter what you say.
  • #77
  • Apr 13, 2011 2:16am Apr 13, 2011 2:16am
Quoting Custos
since you guys are all trading intraday, there will be at least 200 trades if not more per year.

Why instead of talking, you don't setup this trade explorer thing and show me. Then I will rethink my whole stance on trading. Without proof I and many others won't believe you, no matter what you say.
you clearly do not read what i write. believe me when i say that no one wants to see you set up trade explorer.

and 200 trades a year? are you for real and that out of touch? some stock traders do that in 1 busy day, and i imagine some forex traders get close to that during busy times within a few days! but don't believe me. i don't want to ruin your ideal. i believe some day you will discover you have no edge. maybe in 10 years when you have finally cracked more than a dozen trades in your career. you are not a trader. you are an investor, and i hope you manage to fluke a return on your positions and don't end-up in the red because i wish you no ill will.

seriously... what kind of edge is 50% return a year? that's insulting. unless of course you are playing with a mountain of capital and risking next to nothing to gain these returns then that's cool, but this is simply not what you are suggesting is the case so far.

this thread is a troll-fest for closed-minded people. sad. be happy with your participation ribbon while those who make a living from this live a better life and make real money. i know that's what i'm aiming for and where i want to be. anything less is an insult.
Congratulations ScalaFX for coming out of the closet!
  • #78
  • Apr 13, 2011 2:21am Apr 13, 2011 2:21am
Quoting nubcake
you clearly do not read what i write....
still lots of excuses, talk and no proof.
  • #79
  • Apr 13, 2011 2:25am Apr 13, 2011 2:25am
Quoting Custos
still lots of excuses, talk and no proof.
i'm done here.

1. you do not read what i write.
2. you are just being a troll.

no discussion can take place under such circumstances. you can take this as a 'win' if this is how you view it. enjoy your reward.
Congratulations ScalaFX for coming out of the closet!
  • #80
  • Apr 13, 2011 2:29am Apr 13, 2011 2:29am
Quoting nubcake
i'm done here.

1. you do not read what i write.
2. you are just being a troll.

no discussion can take place under such circumstances. you can take this as a 'win' if this is how you view it. enjoy your reward.
I never wanted a discussion, just a proof which you are unwilling or uncapable to provide.
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