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3% a day?

  • #81
  • Mar 9, 2018 1:22pm Mar 9, 2018 1:22pm
Quoting MoneyFocus
What if we could make "just" 3% a day on our account balance? Using a capital of 3,767....after 200 trading days...we will reach 1,391,370. Insane. Possible? Probable? You can play around with other figures (capital, percentage a day) here: http://compoundaily.com/ But it can be insanely rewarding if we manage to do it...How? If you want to travel fast, go alone. If you want to travel far, go together. If you find this idea/concept intriguing...you might want to join a whatsapp group I have created for this purpose.
In a long run, only 1% would be enough! Really it is! Consistency is the key here! By the way, where is the link of your group?
  • #82
  • Mar 9, 2018 2:06pm Mar 9, 2018 2:06pm
Quoting LuizGuilher
{quote} In a long run, only 1% would be enough! Really it is! Consistency is the key here! By the way, where is the link of your group?
1% per day or average over one week is good.

Obviously we will have the old cliche's money management etc, but that is a sensible approach.

Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #83
  • Mar 15, 2018 5:21pm Mar 15, 2018 5:21pm
3% per day is really great, but I'm afraid even to imagine what the risks are) I myself set the bar at 4-6% per month, that way the risks are not particularly high and the deposit increase is tangible.
  • #84
  • Edited 6:10pm Mar 15, 2018 5:47pm | Edited 6:10pm
Quoting garry30
3% per day is really great, but I'm afraid even to imagine what the risks are) I myself set the bar at 4-6% per month, that way the risks are not particularly high and the deposit increase is tangible.
Define 'risk'? Fear limits your imagination.

I half-ass my way to 1-2% a day. I neither have access to high leverage, a reliable news feed, or bother waiting for ideal circumstances and 3% per day is still always just a stone throw away.

Is it your fear of loss or fear of missing out that limits you? The devil is in the details.
"The fun is in the hunt. Not the kill."
  • #85
  • Mar 16, 2018 2:43am Mar 16, 2018 2:43am
Quoting garry30
3% per day is really great, but I'm afraid even to imagine what the risks are) I myself set the bar at 4-6% per month, that way the risks are not particularly high and the deposit increase is tangible.
the risk is the same if you want 1% or 10%...

It is lot size which determines the outcome and of course the bank roll..

4-6% per month is excellent and if that is how you trade stick to it.

As you know, we have lots of different people in the world all with different personalities and this reflects in how they trade...

trade well...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #86
  • Mar 19, 2018 8:01am Mar 19, 2018 8:01am
Hello bro,

woo another trader from sg lol.. all the best i am up for the challenge except mine is maximum absolute return
  • #87
  • Mar 19, 2018 11:12pm Mar 19, 2018 11:12pm
Quoting MoneyFocus
What if we could make "just" 3% a day on our account balance? Using a capital of 3,767....after 200 trading days...we will reach 1,391,370. Insane. Possible? Probable? You can play around with other figures (capital, percentage a day) here: http://compoundaily.com/ But it can be insanely rewarding if we manage to do it...How? If you want to travel fast, go alone. If you want to travel far, go together. If you find this idea/concept intriguing...you might want to join a whatsapp group I have created for this purpose.
I definately think it is possible, longer term though I am not quite sure. Speaking from experience over last 2 months going from 350-1788 live (current stats as of today).

However in saying that, I think once bigger lots are being traded and larger potential drawdowns are faced psychology takes over and it may prove very very difficult.

Just last night trading London (Aussie time zone) I pulled out 4% from cable in 1 position. It all depends on how strong of a mind you have and how big your balls are to trust your gut/analysis whatever you want to call it.
  • #88
  • Mar 20, 2018 8:12am Mar 20, 2018 8:12am
3 percent a month is good enough for me. I am very risk adverse.
'For the market to work, it needs people who think that they can beat it.'
  • #89
  • Mar 21, 2018 4:48pm Mar 21, 2018 4:48pm
Trebling your account size in three years? That’s an outstanding performance to aim for. Realistic aim too...

Quoting AlastorFate
3 percent a month is good enough for me. I am very risk adverse.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #90
  • Mar 22, 2018 10:43am Mar 22, 2018 10:43am
3% a day is a huge. To achieve this you have to be extra ordinary. I don't know whether it is possible under proper money management rules or not. In some day it may be possible but for everyday it looks unbelievable.
  • #91
  • Mar 22, 2018 12:41pm Mar 22, 2018 12:41pm
No, you don’t have to be extraordinary, you have to exist in a fantasy, twilight zone, where unicorns roam and shit rainbows.

Quoting AgusKurniaw
3% a day is a huge. To achieve this you have to be extra ordinary. I don't know whether it is possible under proper money management rules or not. In some day it may be possible but for everyday it looks unbelievable.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #92
  • Mar 22, 2018 1:39pm Mar 22, 2018 1:39pm
Quoting AgusKurniaw
3% a day is a huge. To achieve this you have to be extra ordinary. I don't know whether it is possible under proper money management rules or not. In some day it may be possible but for everyday it looks unbelievable.
If you think it is huge you should not be trading...
If you look at it through the normal trading methods , you will lose.
As Spread points out, open your mind and look for unicorns...

Trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #93
  • Mar 22, 2018 5:02pm Mar 22, 2018 5:02pm
Quoting Spreadbetter
No, you don’t have to be extraordinary, you have to exist in a fantasy, twilight zone, where unicorns roam and shit rainbows. {quote}
With all due respect I don’t understand this mindset, I’ve oulled out 36% this week.

there sure aren’t any unicorns down here, although the twilight zone I probably wouldn’t complain about
  • #94
  • Mar 23, 2018 3:28am Mar 23, 2018 3:28am
I was having a chat with a coder/software developer on Thursday, his firm helps create many of the retail platforms you retail traders use, ignoring the fact that these platforms are gamed like one armed bandits to stiff you, we got onto the subject of why there appears to be a new army of: dreamers, mugs, lemmings, all gagging to run off the FX financial cliff...

It’s fascinating to note that the comments you read on here in 2018, were the same comments you’d read on the first trading forums back in 2000-2003, retailers just haven’t moved on, in all that time I’ve yet to see one who’s made 100% per annum over a consistent period, the same self delusional pathology has remained constant.

Our conclusion is that FX retail trading (by accident and design) simply, but highly effectively, taps into the gambling nature of humans, how folk can see the figures of 96% failure rate and still think they can be profitable, let alone be part of the 0.1% who take a living out of the industry, shouldn’t necessarily be a mystery. In FX retail trading you have the perfect alignment of base fears and motivation; greed, fear, optimism, excitement and unlike gambling on horses, it has the feint whiff of respectability.

Just look at your infantile claim and quote; “I’ve pulled out 36% this week”. On what, a $1000 account, you think you can repeat that performance weekly, using a pathetic version of indicators that were designed in the last century, for position trading off monthly charts? Honestly, I’ve seen your type of claims for over 20 years, many think I should be more charitable in my criticism, but tbh it just annoys me that there’s a constant stream of new mugs who simply waste their time and meagre savings chasing an out of reach dream.

The average life span of an FX retail gambler is three months, their average loss circa $6,000. The retail industry isn’t interested in you hanging around, just fleecing you asap before a competitor does.

Quoting haydo147
{quote} With all due respect I don’t understand this mindset, I’ve oulled out 36% this week. there sure aren’t any unicorns down here, although the twilight zone I probably wouldn’t complain about
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #95
  • Mar 23, 2018 3:51am Mar 23, 2018 3:51am
Quoting Spreadbetter
I was having a chat with a coder/software developer on Thursday, his firm helps create many of the retail platforms you retail traders use, ignoring the fact that these platforms are gamed like one armed bandits to stiff you, we got onto the subject of why there appears to be a new army of: dreamers, mugs, lemmings, all gagging to run off the FX financial cliff... It’s fascinating to note that the comments you read on here in 2018, were the same comments you’d read on the first trading forums back in 2000-2003, retailers just haven’t moved on, in...

Because they live in the 20th century with Dennis, Michael Marcus etc. that market doesn't exist anymore.

Even in 2010 100% was easy

Right now the market just doesn't move that much, I would say 50%/year is the maximum and with a high risk profile too.
  • #96
  • Mar 23, 2018 4:05am Mar 23, 2018 4:05am
Quoting Spreadbetter
I was having a chat with a coder/software developer on Thursday, his firm helps create many of the retail platforms you retail traders use, ignoring the fact that these platforms are gamed like one armed bandits to stiff you, we got onto the subject of why there appears to be a new army of: dreamers, mugs, lemmings, all gagging to run off the FX financial cliff... It’s fascinating to note that the comments you read on here in 2018, were the same comments you’d read on the first trading forums back in 2000-2003, retailers just haven’t moved on, in...
God I can't figure you out.

On one hand you seem to be a very smart guy and I am making an assumption that you have been in this game for quite a long time. So I do listen to what you say, however when you mention things like "using pathetic indicators" and a such a pessimistic and negative tone towards me when I have shown you the utmost respect - this is not a trait of a "very smart guy"

I have been involved in forex since 2011, much longer than half of the posters around here today. You mention the use of pathetic indicators, you know NOTHING about the way I trade or interpret the market, if you had read my previous thread that you were involved in you would of realised that I trade completely naked.

Yes my account may be small, I do not have the luxury of floating a 50k or 10k account. Athough I have seen astronomical gains in the last 2.5 months and am doing my best to make it in this game, you say that 0.1% of traders can actually pull money out of this market, why so quick to shut me down and guess that I can't be in this category?

One thing you said in my other thread about moving to London resonates a lot with kids who move to LA trying to make it, well what about the ones that do?

Rather than shutting me down and telling me I'm wrong because you somehow must know everything about the way I trade or the way I view the markets, why don't you actually share some logical points to counter what I am saying or better yet - back up your points of view?
  • #97
  • Mar 23, 2018 4:19am Mar 23, 2018 4:19am
Oh I remember you now, the “move to London” guy. You’re not receptive to advice, but wtf, you’re young, you have to make mistakes, own them.

As for ‘proof or validation’, as I’ve stated before; on whatever forum, or face to face, I always rely on facts to support my stance or opinions. Facts such as; 96%+ lose money trading FX, only 0.1% make a living out of trading retail FX, the market and brokers are rigged against you in methods by financial engineers that you’ve no conception of, overall your chances of making your fairytale dreams come true as a retail FX trader are non existent.

You will not become wealthy trading FX as a retail punter, however, you can make a living in trading, hey, you could work the other side of the bets, as a market analyst, coder, marketeer, dealer...then you’d wake up to what you’re up against.

I also offered you advice with regards to becoming efficient with MQL, Python even Maple, in order to add gravity to your c.v. I’ll bet you’ve made no efforts. I also advised you to contact prop trading firms in London, did you follow it up? Of course you didn’t, it’s a rhetorical question.



Quoting haydo147
{quote}I trade completely naked. Yes my account may be small, I do not have the luxury of floating a 50k or 10k account. Athough I have seen astronomical gains in the last 2.5 months and am doing my best to make it in this game, you say that 0.1% of traders can actually pull money out of this market, why so quick to shut me down and guess that I can't be in this category? One thing you said in my other thread about moving to London resonates a lot with kids who move to LA trying to make it, well what about the ones that do? Rather than shutting...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #98
  • Mar 23, 2018 4:22am Mar 23, 2018 4:22am
Quoting Spreadbetter
Oh I remember you now, the “move to London” guy. You’re not receptive to advice, but wtf, you’re young, you have to make mistakes, own them. As for ‘proof or validation’, as I’ve stated before; on whatever forum, or face to face, I always rely on facts to support my stance or opinions. Facts such as; 96%+ lose money trading FX, only 0.1% make a living out of trading retail FX, the market and brokers are rigged against you in methods by financial engineers that you’ve no conception of, overall your chances of making your fairytale dreams come true...
As a matter of fact, I have tried to contact 2 prop firms after you mentioned that. Also have looked into MQL and Python with no real direction as to where I need to start, yet I sent you a pm with a hope of some direction.

Jeez, it must get hot up there on your high horse..

Make sure you wear some sunscreen mate
  • #99
  • Mar 23, 2018 5:45am Mar 23, 2018 5:45am
“Tried”, wtf does that mean? Two, and then you gave up, try harder, learn how to code, use metaquotes forums, even FXCM will help you learn the basics of using Python.

Quoting haydo147
{quote} I have tried to contact 2 prop firms after you mentioned that. Also have looked into MQL and Python with no real direction as to where I need to start, yet I sent you a pm with a hope of some direction...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #100
  • Mar 23, 2018 6:04am Mar 23, 2018 6:04am
Quoting Spreadbetter
“Tried”, wtf does that mean? Two, and then you gave up, try harder, learn how to code, use metaquotes forums, even FXCM will help you learn the basics of using Python. {quote}
Haha “tried” as in its only been 2-3 days since I sent the emails, will follow up with a phone call next week...

Thankyou though, I will be looking into financial engineering and since I am trading with FXCM that seems a good start.
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