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  • #47,621
  • Edited 1:43am Oct 19, 2024 1:31am | Edited 1:43am
Quoting NrSLionHeart
{quote} I have 2 types of trades: 1. Medium time trades - that is 10 mintes to 3-4h where I go with some small lots 2. Short time trades - between 15 seconds in 1-2 minutes where I go in heavy. Total cumulative accepted loss for the day is 20% of the account. Target for the day is between 10% and 20% of the account for these small amounts. When I get to higher amounts, the target decreases to 1-2% of the account. NOTE: I do those short time trades after years and years of study of the behaviour of the price on a tick base, so I do not reccomend...
ok.. evryone has his own perception of risk and his personal money managment but..man IMHO with a 60-70% win ratio and a 10-20% target by investing 20% of your capital is for my eyes only a way to burn account. No offence but it looks very unbalanced and more likely to fail in less than a year. A loosing serie of 5 wrong trades and u can say goodbye to your money. I m seasoned trader too, and a 20-25% of gain is reachable in one year, if u are good and probably u are.

here s my stats of my last YTD
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chaos is just unknown order
  • #47,622
  • Oct 19, 2024 1:58am Oct 19, 2024 1:58am
Quoting worldbankinc
{quote} NEW | Trade Idea 54-2024 just released {image} {image}
UPDATE | Trade Idea 54-2024 has triggered BUY entry and almost hit TP

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  • #47,623
  • Oct 19, 2024 2:23am Oct 19, 2024 2:23am
Quoting worldbankinc
{quote} UPDATE | Trade Idea 54-2024 has triggered BUY entry and almost hit TP {image} {image}
Good for you so can we expect drop from here now?
  • #47,624
  • Oct 19, 2024 3:30am Oct 19, 2024 3:30am
Quoting mehantrader
{quote} the fact that if israel attacks iran would retaliate. {quote} Israel would not achieve anything if it attacks iran.Yes, They want to weaken hezbollah(I also think that they can find a diplomatic way to do the UN 1701). But what you did not understand about the october 1th attack is that it wasn't for starting a war - keeping the prestige is the term I guess.
Israel will attack Iran from inside..
I dont know when and how, but it will happen sooner or later.
I believe the Islamic republic of iran has ticking clock on their heads.. not especially because of Israel directly.
all the money, the billions of billions of $ that invested in Terror, Hezbollah, Yemen, militias in Iraq and god knows where else went to waste. Iran is weak, and soon they will have to face it from the inside and outside.
  • #47,625
  • Oct 19, 2024 4:50am Oct 19, 2024 4:50am
Quoting Whale
{quote} Israel will attack Iran from inside.. I dont know when and how, but it will happen sooner or later. I believe the Islamic republic of iran has ticking clock on their heads.. not especially because of Israel directly. all the money, the billions of billions of $ that invested in Terror, Hezbollah, Yemen, militias in Iraq and god knows where else went to waste. Iran is weak, and soon they will have to face it from the inside and outside.
Thank you for your inside and point of view.
Make it clear to those geniuses in here that they keep shorting and burning their account
  • #47,626
  • Oct 19, 2024 5:09am Oct 19, 2024 5:09am
Quoting NrSLionHeart
{quote} I currently have 460 USD in the account. Can you please calculate how much time I have to trade to get that account to 100k with 10% monthly??? I do have a full job that pays good, so for me it does not make sense to spend hours upon hours looking at a screen for 100 USD / per day. So yeah, 6% per month is NOT a good philosophy...
I agree. It won't hurt to have an aggresive trading account with a few hundred bucks in it.

The problem is people put their life savings in a trading account. 10k, 50k, 100k, 500k etc. I rather put 500 dollars and trade with high risk rather than putting my life savings in a trading account and risk 1% on each trade. You can always fall victim to your greed and go wrong with the second option, but you can never go wrong with a few hundred bucks.

People think that they need large sums of money to become a profitable trader, but the truth is if they cannot turn 500 into 1,000 with consistence, then they can never turn 100k into 200k.

Having money won't guarantee success. But being successful guarantees that money will follow.
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  • #47,627
  • Oct 19, 2024 7:26am Oct 19, 2024 7:26am
Quoting Whale
{quote} Israel will attack Iran from inside..
I think you've just seen a lot of spy movies.
Quote
billions of billions of $
Where do you get these mind-blowing - and wrong - numbers? At least you could say millions of dollars. I don't wanna really discuss about politics - as this forum is about trading not POLITICS - but I can tell you in a geopolitical perspective Israel will never ever fit in middle-east.
Quote
waste
Isreal recently paid money to buy THAAD. Is that wasting money?
Trend following
  • #47,628
  • Oct 19, 2024 8:10am Oct 19, 2024 8:10am
Quoting Nordling
{quote} I agree. It won't hurt to have an aggresive trading account with a few hundred bucks in it. The problem is people put their life savings in a trading account. 10k, 50k, 100k, 500k etc. I rather put 500 dollars and trade with high risk rather than putting my life savings in a trading account and risk 1% on each trade. You can always fall victim to your greed and go wrong with the second option, but you can never go wrong with a few hundred bucks. People think that they need large sums of money to become a profitable trader, but the truth...
I believe other traders should realize the sincere and truthful in your words.
Big accout could bring people huge profits, but as equal as burn it faster than a blink of eye. Money can't change people, it can only emphasize themselves. Win/Lost ratio is trash when they don't know what they're trading, 10 short-lived wins cannot save 1 big lost trade. Although most of us here are trading in a parallel markets with the real one. Assuming that when you enter a trade, you're fighting against supper smart people, with large capital to withstand short-term down weight, they have basic salary just to follow one simple rule to manage risk, not profits. They have too much money and insurance to worry about 'must have profits today'. That's the game we already lost.
Real thing, with account 400$, I can make it rise to 1000$ in one week, with just 1- 2 trade for the whole week, the rest of the time I just sit on my hand and try to do nothing but learning the sentiment, session behavior, and plan a levels to entry. That's all and simple.
  • #47,629
  • Oct 19, 2024 8:49am Oct 19, 2024 8:49am
Quoting PushnPull
{quote} I believe other traders should realize the sincere and truthful in your words. Big accout could bring people huge profits, but as equal as burn it faster than a blink of eye. Money can't change people, it can only emphasize themselves. Win/Lost ratio is trash when they don't know what they're trading, 10 short-lived wins cannot save 1 big lost trade. Although most of us here are trading in a parallel markets with the real one. Assuming that when you enter a trade, you're fighting against supper smart people, with large capital to withstand...
It maybe very hard and extremely risky to double an account over a week but, it's not hard to do it every month with a small capital. If you double your account every month, 500 will turn into 8k in just 4 months. Let's say there are drawdowns along the way, let's double the process. Ok, 8 months. From there on they can apply safe money management. Well, if someone can't believe that they can trade profitably for 8 months or let's say a year, then they better stick with demo until they develop a profitable strategy.

The concept of money is coded wrong to our brains since our childhood days. Most of us here, come from lower or middle class families. We are coded to think we cannot succeed with small capitals, we think money is the only problem that sits between us and our dreams. Well, it's wrong.

Money is not the magnet for more money, the real money magnet is our minds. A tiny 500$ account can outperform a 100k account in the long run. If you know what you are doing of course.

Trading is the battle of minds, well not just trading but actually life is the battle and competition of minds, money is just the reward.
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  • #47,630
  • Oct 19, 2024 8:50am Oct 19, 2024 8:50am
Quoting Nordling
{quote} I agree. It won't hurt to have an aggresive trading account with a few hundred bucks in it. The problem is people put their life savings in a trading account. 10k, 50k, 100k, 500k etc. I rather put 500 dollars and trade with high risk rather than putting my life savings in a trading account and risk 1% on each trade. You can always fall victim to your greed and go wrong with the second option, but you can never go wrong with a few hundred bucks. People think that they need large sums of money to become a profitable trader, but the truth...
So in this instance I agree with you.

Some people do this for the money, I do it for the adrenaline...

There is also another aspect of this thing: the mental toll that it takes. Meaning, there is one thing when you have a 500 USD account and you take a bad bet and you have a trade that is 100 in the red. If it blows, fuck it!!! This is why I am relaxed after blowing the 2k account. Anyway, if I am carefull I will get back to 2k in 30 trading days or so...

I have also been a prop trader too managing 50k accounts (real money) and I quit that job because it was just too mentally taxing. Like if you have -100 on the screen is one thing, but if you have -10k on your screen it is another mental game, because it does not matter who you are, 10k actually matter. And then you stress and you cut the trades short...
Also you have to split the profit 50/50 with the firm and not go into drawdown. To make an idea how the prop trading was, my account never got more than 2% into drawdown. I was making 100 USD per day or 0.2% per day - so like 2k per month profit. I could make that for my entire life - ruin my health for 1k just to call myself a prop trader.
  • #47,631
  • Oct 19, 2024 8:53am Oct 19, 2024 8:53am
Quoting NrSLionHeart
{quote} So in this instance I agree with you. Some people do this for the money, I do it for the adrenaline... There is also another aspect of this thing: the mental toll that it takes. Meaning, there is one thing when you have a 500 USD account and you take a bad bet and you have a trade that is 100 in the red. If it blows, fuck it!!! This is why I am relaxed after blowing the 2k account. Anyway, if I am carefull I will get back to 2k in 30 trading days or so... I have also been a prop trader too managing 50k accounts (real money) and I quit that...
Exactly, when you have a big account you emotionally get attached to it. And those emotions force you into gaining back what you have lost. It's a rabbit hole that keeps going down until you lose everything.

But like you said, if you lost a few hundred bucks, you can still go on with your life like nothing happened and you will sleep peacefully at nights.
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  • #47,632
  • Oct 19, 2024 8:56am Oct 19, 2024 8:56am
Quoting PushnPull
{quote} I believe other traders should realize the sincere and truthful in your words. Big accout could bring people huge profits, but as equal as burn it faster than a blink of eye. Money can't change people, it can only emphasize themselves. Win/Lost ratio is trash when they don't know what they're trading, 10 short-lived wins cannot save 1 big lost trade. Although most of us here are trading in a parallel markets with the real one. Assuming that when you enter a trade, you're fighting against supper smart people, with large capital to withstand...

"Big accout could bring people huge profits" - if you make 10% per month from a 100k account it means that you make 10k. Then you have to pay taxes on it because at these kind of money you go to jail if you do not pay. Let's say 40% go to taxes - so you remain with 6k. I do not know what is your definition of "huge profits" but 6k ain't "huge profits" for me. Probably a 250k account fits that definition because we are talking about 15k per month and that can be defined "big money".

And for 250k capital - please see my previous point for the 10% per month compound to get there - it takes a lifetime...
  • #47,633
  • Oct 19, 2024 8:59am Oct 19, 2024 8:59am
Quoting Nordling
{quote} It maybe very hard and extremely risky to double an account over a week but, it's not hard to do it every month with a small capital. If you double your account every month, 500 will turn into 8k in just 4 months. Let's say there are drawdowns along the way, let's double the process. Ok, 8 months. From there on they can apply safe money management.
That is the way !!!
  • #47,634
  • Edited 9:14am Oct 19, 2024 9:01am | Edited 9:14am
Quoting Nordling
{quote} It maybe very hard and extremely risky to double an account over a week but, it's not hard to do it every month with a small capital. If you double your account every month, 500 will turn into 8k in just 4 months. Let's say there are drawdowns along the way, let's double the process. Ok, 8 months. From there on they can apply safe money management. Well, if someone can't believe that they can trade profitably for 8 months or let's say a year, then they better stick with demo until they develop a profitable strategy. The concept of money...

this kind of math is wishful thinking most times

when I started out 25 years ago the minimum amount to open a futures trading account which was pretty much the only way to trade intraday was 10k..retail USA forex brokers didn't even exist in 1999... stock trading was even more..i wont even go into the commissions they all charged back then ....just because the barriers to entry dropped doesn't make it easier to make money like your math example insinuates

currently in America to daytrade stock one has to have a minimum balance of 25k at all times to satisfy the pattern daytrader rule which is anything over 4 trades a week

forex brokers and prop firms arent doing anyone favors by accepting 50 or 100 dollars for 500:1 leverage...just means newbies lose their stake more quickly.... moty is an example of that in the cable thread unfortunately...firms that offer that kind of leverage are bookies in my opinion for gamblers who rather lose their money on forex or cfd's instead of horse racing or at casinos.

i appreciate America keeps a higher barrier to entry altho futures firms have dropped their minimums to a few hundred dollars now but its nice having regulation from predatory companies
short trump and go long the deepstate
  • #47,635
  • Oct 19, 2024 9:08am Oct 19, 2024 9:08am
Quoting Zebi
{quote} this kind of math is wishful thinking most times when I started out 25 years ago the minimum amount to open a futures trading account which was pretty much the only way to trade intraday was 10k stocks trading was even more....just because the barriers to entry dropped didn't make it easier to trade currently in America to daytrade stock one has to have a minimum balance of 25k to satisfy the pattern daytrader rule which is anything over 4 trades a week forex brokers and prop firms arent doing anyone favors by accepting 50...

So like 5-10 years ago I think I had an account in Cyprus (I am located in EU). I started with 1:200 leverage and 500 EUR. At the end I got the account to 3500 EUR but the leverage decreased and decreased and I was at 1:30. I was making money day in, day out, 20-30EUR per day. I NEVER had a month in red. In the end the company closed the account because the regulations where changed again and I had to take some course to become a certified trader or professional trader and I did not want to (they proposed me to take the course using their company).

When you consider the risk that the broker goes under, the regulations change and some other stuff, 10% per month does not worth for me ...

This thing is more than just some percent numbers - it is time of our life, stress and money. 30% increase if you start with 1k is nothing...
  • #47,636
  • Edited 9:39am Oct 19, 2024 9:15am | Edited 9:39am
Quoting Zebi
{quote} this kind of math is wishful thinking most times when I started out 25 years ago the minimum amount to open a futures trading account which was pretty much the only way to trade intraday was 10k stocks trading was even more....just because the barriers to entry dropped didn't make it easier to trade currently in America to daytrade stock one has to have a minimum balance of 25k to satisfy the pattern daytrader rule which is anything over 4 trades a week forex brokers and prop firms arent doing anyone favors by accepting 50...
Well, thanks to 500:1 leverage brokers i don't have to pay any tax on capital gains Zebi In my country we have a 5k USD barrier, and goverment demands 10% tax from every single winning trade. Which is why i prefer to trade overseas. I like flying under the radar.

Yes, many retailers lose money because now opening a trade account overseas is easier than ever and there are many frauds as well. But we can't really babysit people. They will blow their money either way. Forex, crypto, horse races... you name it. Their mindset is wrong. And governments put all these barriers so they can tax us, not that they care for us

Don't get me wrong, i don't suggest putting real money and trading with it right away. One's gotta see that they are consistent and successful in a demo account for at least 6 months. After they see that they are good enough, then they can start going live with small capitals so they don't lose everything they own in a matter of days
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  • #47,637
  • Oct 19, 2024 9:58am Oct 19, 2024 9:58am
Quoting NrSLionHeart
{quote} So in this instance I agree with you. Some people do this for the money, I do it for the adrenaline... There is also another aspect of this thing: the mental toll that it takes. Meaning, there is one thing when you have a 500 USD account and you take a bad bet and you have a trade that is 100 in the red. If it blows, fuck it!!! This is why I am relaxed after blowing the 2k account. Anyway, if I am carefull I will get back to 2k in 30 trading days or so... I have also been a prop trader too managing 50k accounts (real money) and I quit that...
Quoting Nordling
{quote} Well, thanks to 500:1 leverage brokers i don't have to pay any tax on capital gains Zebi In my country we have a 5k USD barrier, and goverment demands 10% tax from every single winning trade. Which is why i prefer to trade overseas. I like flying under the radar. Yes, many retailers lose money because now opening a trade account overseas is easier than ever and there are many frauds as well. But we can't really babysit people. They will blow their money either way. Forex, crypto, horse races... you name it. Their mindset is wrong....
IMO, to save so many livelihoods from disaster, this conversation between both of you should be shown mandatory before & after each Youtube-my-system-makes-you-$100/$1,000-a-day-guru-video.
The value of the info & background given by both of you simply is invaluable.
For which my thanks.
In other news: the earth is flat. Aliens built the pyramids. And god exists
  • #47,638
  • Oct 19, 2024 10:28am Oct 19, 2024 10:28am
Quoting Lloyd628
{quote} {quote} IMO, to save so many livelihoods from disaster, this conversation between both of you should be shown mandatory before & after each Youtube-my-system-makes-you-$100/$1,000-a-day-guru-video. The value of the info & background given by both of you simply is invaluable. For which my thanks.
You are always welcome my friend, we all have been beginners and we blew up so many accounts to get here So sharing these experiences is my pleasure.

Btw, I also want to point out that i agree with Zebi in terms of regulations. I enjoy 500:1 brokers because i don't put hundred thousands in them, but if i were to put that much money, i would prefer US and UK brokers as Zebi suggested. They are obligated to protect your funds by law. While the offshore brokers and prop firms have little to no obligation. That's also why i don't recommend anyone to put more than 1k.

When you get to a point where you are a self employed professional trader, it's just a matter of choice.
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  • #47,639
  • Oct 19, 2024 10:32am Oct 19, 2024 10:32am
Quoting mehantrader
{quote} I think you've just seen a lot of spy movies. {quote} Where do you get these mind-blowing - and wrong - numbers? At least you could say millions of dollars. I don't wanna really discuss about politics - as this forum is about trading not POLITICS - but I can tell you in a geopolitical perspective Israel will never ever fit in middle-east. {quote} Isreal recently paid money to buy THAAD. Is that wasting money?
Lets cut it young.
Days will tell.
  • #47,640
  • Oct 19, 2024 10:48am Oct 19, 2024 10:48am
Quoting IndianFX
{quote} Good for you so can we expect drop from here now?
Hello Sir,

Actually I am using hedging method for my Trade Idea. So at the moment i don't add confluent to my trade idea. I just hedge when it is needed. So if you ask me about expectation, I would say I dont have any expectation, whichever market goes I will close my trade in profit.

However we can reduce the risk by adding other confluent for example Moving Average ( price below MA is Sell first or above MA is buy first ).

Thanks.
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