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  • #281
  • Edited 6:21am Jun 15, 2011 5:54am | Edited 6:21am
Quoting ohammond
The reason I am linking to this is because these are contests for live accounts with Dukascopy, not demo like a lot of them have.
A winning month in a competition does not indicate consistency. Generally, it is only the lucky trader that wins these with the majority tanking their accounts taking the huge risks required to take the prize. That is the nature of short term competitions, the leader one day is gone the next and that is not the sort of trading that is going to show any return over a year.
Anyway, I was just letting all you wizz kids know what sort of money is on offer if you can do a measley 20%pa or better. You guys would only need to work one month a year to beat that and you would be paid seven figures for your trouble. Thought you might be interested if you weren't already aware of this fact.
BTC Return This Year: na
  • #282
  • Jun 15, 2011 1:17pm Jun 15, 2011 1:17pm
Quoting M.A.C.Doug
A winning month in a competition does not indicate consistency. Generally, it is only the lucky trader that wins these with the majority tanking their accounts taking the huge risks required to take the prize. That is the nature of short term competitions, the leader one day is gone the next and that is not the sort of trading that is going to show any return over a year.
Anyway, I was just letting all you wizz kids know what sort of money is on offer if you can do a measley 20%pa or better. You guys would only need to work one month a year to...
I'm sure most are aware of that fact and wouldn't like to do it anyway, in my particular case I wanted to learn trading because I wanted freedom from a job, and I didn't want it in 5 or 10 years time I wanted it now. At the start I was practically broke but was determined to do it. I came across FF years ago and soaked everything in. The very worst thing I did was to believe everyone that said that even 10% a month wasn't really achievable, because I did believe it, and constantly trying to compare yourself with people that try to move millions in a market just doesn't make sense, but still people do it. But whatever, we will argue backwards and forwards forever and it won't make any difference in the long run, people build the box they stay in and thats fine, as long as I know 30% a week is a good target, can be achieved and is being achieved thats all that matters to me, and people can laugh as much as they like, thats fine as well, its down to me to put food on the table, live off my earnings completely and build my account at the same time all on an account much less than $10,000 which actually started at around $200, I'm happy and people can laugh as much as they like.
  • #283
  • Jun 15, 2011 1:27pm Jun 15, 2011 1:27pm
Quoting ohammond
I'm sure most are aware of that fact and wouldn't like to do it anyway, in my particular case I wanted to learn trading because I wanted freedom from a job, and I didn't want it in 5 or 10 years time I wanted it now. At the start I was practically broke but was determined to do it. I came across FF years ago and soaked everything in. The very worst thing I did was to believe everyone that said that even 10% a month wasn't really achievable, because I did believe it, and constantly trying to compare yourself with people that try to move millions...
Well said. I ain't laughing except all the way to the bank.

Comparing retail traders to institutional traders is pointless. Even reading the article was a waste of time it is for dreamers IMO. So I didn't.

Limit your dreams to 30% a year and that is all you will do.
  • #284
  • Jun 15, 2011 3:51pm Jun 15, 2011 3:51pm
Quoting jag1966
Well said. I ain't laughing except all the way to the bank.

Comparing retail traders to institutional traders is pointless. Even reading the article was a waste of time it is for dreamers IMO. So I didn't.

Limit your dreams to 30% a year and that is all you will do.
Well said
  • #285
  • Edited 8:01pm Jun 17, 2011 7:49pm | Edited 8:01pm
Quoting ohammond
live off my earnings completely and build my account at the same time all on an account much less than $10,000 which actually started at around $200, I'm happy and people can laugh as much as they like.
Thats is some brilliant trading! $200 to making a living as a full time trader. My hat goes off to you. You achieved the very dream I started with 6 years ago

Your right about beliefs and its true, I really, really believe that 30% per week would be so difficult to achieve that you may as well call it impossible.
I cant undo my beliefs because they were not formed by listening to other people on a trading forum. It took 5 years trying my guts out and 30k in losses to ingrain them.

I sold the Aussie at the start of the month for 1.07 and I bought the Euro the other day for 1.4090. These two trades netted me a 30% return, which, for me at least, is massive account growth. I could do this everyday if the opportunities were there but for me, they are not. I have to wait, and wait, and wait. I am good for 5%-10% per month on average with the occaisional stand out months like this one. Unfortunately, I dont have the sort of money I would need to make a living from this limited belief of mine.

Fortunately there is another way for me to achieve what I started out to achieve. I can be paid million dollar bonuses and live the life of my dreams by waiting. I already have offers on the table. My limited beliefs will allow me to have all that I want, and some. I am happy with the box I am stuck in

Here is how I did my 15% Euro trade
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BTC Return This Year: na
  • #286
  • Jun 17, 2011 11:28pm Jun 17, 2011 11:28pm
Quoting M.A.C.Doug
These guys are the best of the best currently. Although they dont have long records to prove consistency, anywhere from 15% to 40% in a single year is earning them million dollar bonuses. You gun traders should definetly give J.P Morgan a call
http://energytraders.yuku.com/topic/486#.TfTEaFsbEYQ

Naw, banks mess with me all the time. I love it when I can stick them month in and month out and have them guard my money for free. I don't just do this for the money... I do it for the challenge!
  • #287
  • Jun 18, 2011 2:20am Jun 18, 2011 2:20am
Quoting M.A.C.Doug
Thats is some brilliant trading! $200 to making a living as a full time trader. My hat goes off to you. You achieved the very dream I started with 6 years ago

Your right about beliefs and its true, I really, really believe that 30% per week would be so difficult to achieve that you may as well call it impossible.
I cant undo my beliefs because they were not formed by listening to other people on a trading forum. It took 5 years trying my guts out and 30k in losses to ingrain them.

I sold the Aussie at the start of the month for 1.07 and I bought...
That was an excellent trade, along with the Aussie, that is similar to how EOhater's trading works, look for opportunities on the higher timeframes and then go down to the 15min and put your trade in, the only difference is that he has far more of the same sort of setups. 100 pips netted you 15%, so when I say that EOhater used to get 1,000 pips roughly every week and he used to just trade GU then you can see how he came by the weekly return that he did but his was a lot less risk 100 pips wouldn't give him 15%, nowhere near it, 1000 pips equated to roughly 30% from what I read.

So, we are on the same page, just more setups to trade. If trading for someone else is going to give you what you want in life then all power to you, in the end thats what it should be all about.
  • #288
  • Jul 11, 2011 7:09am Jul 11, 2011 7:09am
Here is a couple of old market sayings that, from experience, I agree with and constantly remind myself of. I dont wish to keep arguing, I just thought some of you might find them useful or at least interesting, if you havent already heard them

1. new traders focus on return on invested capital, Old traders focus on return of invested capital

and

2. new traders practice to get everything right, Old traders practice until nothing can go wrong

If you combine these thoughts with a few toasted accounts, the message really sinks in
BTC Return This Year: na
  • #289
  • Jul 11, 2011 7:40am Jul 11, 2011 7:40am
Quoting M.A.C.Doug
Here is a couple of old market sayings that, from experience, I agree with and constantly remind myself of. I dont wish to keep arguing, I just thought some of you might find them useful or at least interesting, if you havent already heard them

1. new traders focus on return on invested capital, Old traders focus on return of invested capital

and

2. new traders practice to get everything right, Old traders practice until nothing can go wrong

If you combine these thoughts with a few toasted accounts, the message really sinks in
good message! I guess accepting those realities is just a matter of time and blown accounts.
  • #290
  • Sep 9, 2011 4:24pm Sep 9, 2011 4:24pm
Quoting M.A.C.Doug
He is full of shite as far as I am concerned



5-10% a month would be a super hero

Get real people, no one is consistently getting 5-10% per month. I know you have all come here believing you will make at least this return but it is not realistic.

Bernie Madoff attracted millions of dollars of investment by offering just 10% per year! but the truth was he couldnt even achieve that. If you could do 5-10% per month then you are a super hero. You would be given a multi million dollar fund to manage and make the cover of forbes in your first...

Guess that makes me a SUPER HERO! 5-10% a month is EASY! i do that almost every week and you can do it using PROPER MONEY MANAGEMENT!
  • #291
  • Sep 9, 2011 7:47pm Sep 9, 2011 7:47pm
Quoting Dredding82
Guess that makes me a SUPER HERO! 5-10% a month is EASY! i do that almost every week and you can do it using PROPER MONEY MANAGEMENT!
Not really, I was wrong about those returns, every second trader in this thread is doing even better than you dude
BTC Return This Year: na
  • #292
  • Sep 10, 2011 11:33am Sep 10, 2011 11:33am
Quoting M.A.C.Doug
He is full of shite as far as I am concerned



5-10% a month would be a super hero

Get real people, no one is consistently getting 5-10% per month. I know you have all come here believing you will make at least this return but it is not realistic.

Bernie Madoff attracted millions of dollars of investment by offering just 10% per year! but the truth was he couldnt even achieve that. If you could do 5-10% per month then you are a super hero. You would be given a multi million dollar fund to manage and make the cover of forbes in your first...
Actually, if you have a good strategy, its much easier to get a 10-15% return per month if you have a small account. say $1000 to $50,000 after that i think emotions come into it too much and people start to change the strategy unknowingly. If you have a balance of say $1,000,000 then your trades start to effect the market.
  • #293
  • Sep 10, 2011 2:22pm Sep 10, 2011 2:22pm
Quoting jwhitby
Actually, if you have a good strategy, its much easier to get a 10-15% return per month if you have a small account. say $1000 to $50,000 after that i think emotions come into it too much and people start to change the strategy unknowingly. If you have a balance of say $1,000,000 then your trades start to effect the market.
I agree.

I have started advising the people I teach to get used to turning a 3k demo account into at least 10k in a month following strict rules, hard stops hard targets risking no more than 10% a trade.

Keep doing that until you can do it with your eyes closed - 3-6 months at least. The transition to live becomes almost automatic.
  • #294
  • Edited 11:17pm Sep 10, 2011 10:49pm | Edited 11:17pm
Quoting M.A.C.Doug
Not really, I was wrong about those returns, every second trader in this thread is doing even better than you dude

You sure were about the returns so i have no clue how you have 10 vouchers......second i never said thats all i make. Even if it was that is a 25%-40% gain per month which you and others can only dream about. You should really check out my thread ..Lets see had 1 trade i posted thursday (closed Friday) that went for a 1:15.61 (risk/reward) if you want to go that way...made over a 300% gain on just 2 gold trades in 2 days(last week or the week before)...if you want to go that way....or i make thousands of pips per week(ALL THE TIME! lol) if you want to go that way....either which way i doubt if any make the kind of returns i do on a LIVE ACCOUNT and follow proper money management...well unless they follow my thread or a few other threads but those are far and few!

P.S. There is PROOF by numerous pictures of the gain,risk/reward or pip count on my thread...so its not BS.
  • #295
  • Sep 10, 2011 11:20pm Sep 10, 2011 11:20pm
Oh and got to add this "You can not teach old dogs new tricks!" LMAO

Sorry seen your a few years older then i am (about double) so had to throw it in there ...........
  • #296
  • Sep 21, 2011 7:12pm Sep 21, 2011 7:12pm
each week is different for me. my monthly target is %50 return. so each month and week is more than the previous. my loss are really tight.
  • #297
  • Sep 21, 2011 8:07pm Sep 21, 2011 8:07pm
20% average weekly.

using 0.02, 0.03 lots on gold, silver, eu, dow.
Have I got something on my face, SOLDIER?
  • #298
  • Sep 22, 2011 12:31am Sep 22, 2011 12:31am
Hi,
sice we have a trade explorer on FF everybody can join it to the profile so that the members or just buddies could see it. It would be much easier to discuss things while seeing who knows what is talking about.


Best,

Peter
Jesus Christ is my only Lord !
  • #299
  • Sep 22, 2011 12:37am Sep 22, 2011 12:37am
If you havent looked at your own...the "Trade Explorer" is broken, says on the chart your up 50% but on the all time is says only 18%...and your balance is -$0.....big difference there. BTW...do you know why people started those sites anyways? Well its so they can make money off of you if your profitable! Once you give them your investor password they can link an account to yours and make the returns for none of the work. If you dont believe me...just think about it! why in the hell would someone make sites to show your stats....you can do that in your PLATFORM! on your own or make a spreadsheet....DUH lol
  • #300
  • Sep 22, 2011 12:41am Sep 22, 2011 12:41am
Quoting Dredding82
If you havent looked at your own...there "Trade Explorer" is broken, says on the chart your up 50% but on the all time is says only 18%....big difference there. BTW...do you know why people started those sites anyways? Well its so they can make money off of you if your profitable! Once you give them your investor password they can link an account to yours and make the returns for none of the work. If you dont believe me...just think about it! why in the hell would someone make sites to show your stats....you can do that in your PLATFORM! on your...
Hi Dredding,

just move the zipper left (below the chart- or go to the details). It is broken because I have withdrawn my money.
What concernes linking to my account - it would not be the best idea - looking at the posts below - I am below everage results.

Best,

Peter
Jesus Christ is my only Lord !
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