I'm just saying that averaging 5 pips per day, with a 25 pip SL, is not a crazy dream.
"Trading is a mental sport." - Ziad Masri
Broker Challenge "NDD/STP" vs. True "ECN" and "Mkt Mkr" broker talk 46 replies
Dealing with "Invalid Price", "Requote", "Server Busy" in MT4 3 replies
Best way to grow an account from "scratch'' 11 replies
Is there a way to do the following ("group take profit") 0 replies
DislikedAnything is possible, not just in trading either.
If you limit yourself in you thoughts, you already have a limit on your physical ceiling.
It is just a case of Risk Vs Reward X Time.
You havent even got to be a high % winner, just manage your 2:1, 3:1,5:1
or more ratio.
The originator of this thread, had the document for 5 years and done nothing with it, because of his lack of commitment to forex.....Just , like many a collector of info!!!!
I can certainly say in the western world people are looking for "MICROWAVE SUCCESS"
Let me...Ignored
DislikedInstead of risking too much per trade, why not go for 20% a month average with lower risk? That compounded for 45 months will get you the $1M.Ignored
Disliked
It's really all a matter of perspective. The problem is with our "Microwave Society" mentality. We want things NOW. Sometimes, time and effort are actually required to reach huge succcess. I beleve large income can be made with trading.Ignored
DislikedMy dear, it depends on your perception of life. Trading is a career. As long as there is long term success in medicine, engineering, banking, law, arts and a host of others, there is long term success in trading. Just because you've not experienced it or come accross one doesn't mean you should assume that all swans are white. Trading is not about indicators or waves, maths or theories, it's about common sense. Get out of the box and see the potential, if u limit urself by your thoughts, I doubt if you will have even a short term success in trading....Ignored
DislikedEstablishing A Trading Plan To Earn 20% On Your Account: We know that the Forex trades 5.5 days a week (starting Sunday 2PM eastern), which essentially is a 6-day trading week. That means there are approximately 25 to 28 trading days each month. If you took the weekends off, an occasional day to go to the beach or the mountains, or to sleep in when it rains, let's assume you could average 20 trading days a month.Ignored
DislikedActually, I don't really understand why you "experienced" trades say it is not possible to do this?
I had 300% return in May alone, probably a bit of luck but I didn't have much risk. That said, this month I've lost most of it.!Ignored
DislikedDid you know that you can take $300 and make $1 million in your trading in only 45 months by doing something that is actually "doable"? This can be done by averaging 20% per month. So, you think 20% per month is unrealistic? You think earning $1 million in 45 months on a starting trading account of $300 is unrealistic? Well, read on!
Below is an article I came across about 5 years ago of which I printed out and put into my trading folder. I have actually condensed it for this post, otherwise it would be longer than it is here. I want to first...Ignored
DislikedIf you consider risking only 5% per trade on a $300 trading account - with the potential to make hundreds of thousands of dollars by averaging just 5 pips per day - as an outlandish risk, then maybe this money management style is not for you.Ignored
Dislikedit's not about that. But just making these cloud castles is not gonna help anybody. Research a pattern, make a system around it and then trade it. Some days you won't get any pips, some days more. In the end you should come out ahead. Trying to make a daily target is in my opinion ridiculous. Markets are not the same every day. And what happens if you fall behind the target, you are then risking 10%?
Targets are a bad idea, as is projecting income over the next couple of months to years. You just have no way of knowing how the markets will behave....Ignored
DislikedTotally agree, with the targets issue. You can only take what the market is prepared to give. on each trade i know where my target is, never try to get back in or eek out more pips, i go to another pair. Wait for another set up.
In all honesty guys i trade supply and demand areas, there a 100+ pairs on my platform, stocks, indices, commodities and of course fx.
Let me ask you one thing. If i were to show you a group of charts and take off what instrument it was and what timeframe, would it matter ??
Of course not, every instrument, every timeframe...Ignored
DislikedAs someone else said, everything seems impossible until it's done. I don't believe the guys on wall street 30 years ago thought it was possible that everyone who wanted to could sit at home trading forex, stocks, derivatives and other instruments through a laptop, or even a netbook without even a network cable attached to it.
As for the mind set, once you have let's say $1M in your account, if you risk 2% that's $20,000, once you get there you won't think of it as money you could have spent on a nice used car, but merely a fraction of your total...Ignored