Updated my first post on this thread....forgot about 2 KEY secrets everyone always seems to over look or just dont understand. The ones with the *'s to it.
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DislikedThere really is no secret formula. It's just managing risk. That's it. The more you know and think things through, the better prepared you are to manage the risk. That's all. Unless you're really really lucky, chances are it will take awhile for you to make money and your positions to grow. With that said compounding is very very powerful. Just don't lose too much so you let it work for you and not against you. If you managed the risk and money properly and let it compound for you, then in 5, 10, 15 years you should have something nice built up...Ignored
DislikedUpdated my first post on this thread....forgot about 2 KEY secrets everyone always seems to over look or just dont understand. The ones with the *'s to it.Ignored
DislikedCorrect. There are edges. I wouldn't call them secrets though. I read your prior post and see you also made mention of compounding. It is a key to building wealth in trading.
The math is incorrect, but I understand the point that is made. As for the math, there are 260 trading days a year (excluding weekends). Less if you don't trade on any holidays. At 1% per day you have $1329.10 at years end (if you started with 100USD). After year 2 you have $17,665.05. At the end of year number 3 you got $234,653.01. The math is easy. The hard part is averaging...Ignored
DislikedI just did it quick...around 20 trading days in a month...and 1% per day...if you cant make 1% per day trading the hundreds of currency pairs,stocks and commodities offered by most brokers....yea better stick to demo till you can 1% is the most realistic return on this forum or any website in the world!...but like i said there will be set backs...Ignored
DislikedAre you serious? I don't know where you read 1% compounded daily is a reasonable return, but that is way off the mark! Also, no matter how many currency pairs or commodities you look to trade, you still have to position yourself based on your account balance. Sure, it gives you more places to look for opportunity, but you still have to make 1% per day. That's an insane average!Ignored
DislikedIf you look on my thread "The Freebie System"...i just took 2 live trades a few hours ago i posted. EurUsd & GbpUsd...if i was using a $100usd account i would be up for the day 2%+ and could close my orders and call it aday. If they turned out to be losers i would just wait for the next setup and make my money back hopefully or make some profit for the day.Ignored
DislikedInsane? LMAO! i so wish it was.....1% a day is an average....thats 5% a week or 20% a month investing for YOURSELF...if you invested with a company what are your monthly returns with them? If you dont know then you need to go talk to an investment advisor!Ignored
DislikedIf you make it standard practice to take profit at 1% or 2% a day (on days you are in profit), then it is less likely you will average 1% daily over the course of one year. It is more likely if you let your winners run to 4 or 5% and cut the losers at 1%. You can't rely on hopefully making it back the next day. Then what happens when you lose another 1-2%? Which will happen. A major misconception that beginning traders have is that losing 2% on day one and winning 2% on day 2 brings them back to even. Wrong. You are still negative. This along with...Ignored
DislikedInsane? LMAO! i so wish it was.....1% a day is an average....thats 5% a week or 20% a month investing for YOURSELF...if you invested with a company what are your monthly returns with them? If you dont know then you need to go talk to an investment advisor!Ignored
DislikedI MAX my profits and cut my losses! I trade for a living not for fun or to try and get rich over night! I never said only make 1%-2% and close your trades, I said can you make 1%-2% everyday or almost everyday...BIG difference there buddy.Ignored
DislikedOne last thing before I do go. You are still not correct on the math. Making 5% a week is not the same as making 1% compounding daily average as you said in your first post. Compounding 1% daily you have $105.10 end of first week versus $105 (5%). End of month $122.02 versus $120. Doesn't seem like much, YET, but after one year it's $1329 versus $260 (by your logic, 260 trading days = 260%). you can just imagine where it goes from there. So, yea it's very unlikely that you will do an average of 1% each day.Ignored
DislikedMaybe you should try and trade the Freebie System...everyone that uses it with the rules almost ALWAYS makes there goals daily/weekly/montly unless they are still wet behind the ears! Goals range from person to person...but 1% with the Freebie System is a LOW LOW ball figure once you learn it....or with any other good system.Ignored
DislikedI will take a look at it. If it's as good as you say... 30% monthly, then I will gladly admit you were right and I was wrong.Ignored
DislikedNot saying its the system for you...but you can ask anyone that took the the time to learn and understand it and they will tell you most have never made profits are starting to make them now...steady profits...you just have to learn a system and stick with it. Trading is easy once you forget most of the BS that is found on sites that is not even wrote by real traders.....Wasnt and am not trying to aruge....but I know im right on my points even if you beleive i am wrong. lol if that makes senseIgnored