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What percentage profit per day IS possible? 56 replies

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Attachments: 1% to 3% Per Day? All things are Possible
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1% to 3% Per Day? All things are Possible

hmmm....Testing out this tool...
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R:R "Percentage Focus"
Quoting PrinceJ58
3% per day Without a losing Day
//-----

3% on a 1000$...... non-compounded...... 30$ a day..... 150$ a week..... roughly 600$ a month...... and without a losing day...... hmmmmm......

kinda wish that 'without a losing day' aspect was not in the picture..... those returns might best be made trading a maximum combined single mini lot per day..... pips required would range from, roughly, 20 eurgbp to 40 eurnzd..... a solid 4hr or hr signal backed up by a daily pin or engulfing bar...... margin required should be less than 400......

we're still workin 13 days on and 1 off but down to only 12 hours a day...... will open another account today and give it a shot.... who knows..... might get lucky.....h

to trade and code, keep both simple... no call to impress....h
After many years, i'm doing 0.16% per day consistent, fully automated, never have to adjust or look at it. It's not get rich quick but I'm happy with it.
You can lead a man to knowledge, but you can't make him think.
Quoting Tinderdater
After many years, i'm doing 0.16% per day consistent, fully automated, never have to adjust or look at it. It's not get rich quick but I'm happy with it.
nice one and modest.
Consistency is the word and you seem to have it....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting Tinderdater
After many years, i'm doing 0.16% per day consistent, fully automated, never have to adjust or look at it. It's not get rich quick but I'm happy with it.
If you can do that day in, day out, week in week out, etc then you get my thumbs up. I'm a newbie and am still looking for 0.5% daily...but failing. I believe slowly, slowly is the way but....Behaviour wrong, system poor. If you would care to share your system I would really appreciate it. Thanks for reading. S.
Quoting hayseed
{quote} //----- 3% on a 1000$...... non-compounded...... 30$ a day..... 150$ a week..... roughly 600$ a month...... and without a losing day...... hmmmmm...... kinda wish that 'without a losing day' aspect was not in the picture..... those returns might best be made trading a maximum combined single mini lot per day..... pips required would range from, roughly, 20 eurgbp to 40 eurnzd..... a solid 4hr or hr signal backed up by a daily pin or engulfing bar...... margin required should be less than 400...... we're still workin 13 days on and 1 off...
Very interesting thoughts and actions Hayseed, yes those goals can be accomplished i believe with the right frame of mind, rules of execution and trade management.
I found some goodness in something that looks quite similar to your charts.
Then i asked the question, in order for a trader to accomplish a % based form of trading the entries and exits have to almost be identical to successfully do this every day.
Can Time based charts/ setups do this versus price based?
R:R "Percentage Focus"
Quoting Tinderdater
After many years, i'm doing 0.16% per day consistent, fully automated, never have to adjust or look at it. It's not get rich quick but I'm happy with it.
Then a thought would say consistency is more important towards the positive side than the negative side. One can be consistent on three dimensions:
1-Profitable
2-Losing
3-Breakeven= I had a strategy that held me hostage in this zone in a volatile period.

However what can you share beyond just the 0.16% even if its for reading purposes and we figure it out on our own.
One drastic improvement for any trader is when they can develop their systems of entry, exit and management based on percentage.
R:R "Percentage Focus"
Quoting PrinceJ58
{quote} Very interesting thoughts and actions Hayseed, yes those goals can be accomplished i believe with the right frame of mind, rules of execution and trade management. I found some goodness in something that looks quite similar to your charts. Then i asked the question, in order for a trader to accomplish a % based form of trading the entries and exits have to almost be identical to successfully do this every day. Can Time based charts/ setups do this versus price based?
I trade a breakout method just after UK open...

More often than not the break happens very soon after the open and the bar is broken.
So this is time related as we are talking volatility when we get decent movement to make a gain.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting PrinceJ58
{quote} Then a thought would say consistency is more important towards the positive side than the negative side. One can be consistent on three dimensions: 1-Profitable 2-Losing 3-Breakeven= I had a strategy that held me hostage in this zone in a volatile period. However what can you share beyond just the 0.16% even if its for reading purposes and we figure it out on our own. One drastic improvement for any trader is when they can develop their systems of entry, exit and management based on percentage.
all my trading stats are based on frequency distribution.
This happens on every bar every day and stats can be collated...
My stats are aimed in this instance for 10% gain but i choose to get 5% this increases my odds/probability many times..
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Another thing is the power of breakeven, when do you place your account protection at breakeven or more?
Should a trader do this several things can happen:

  1. It protects you from a winner turning around to be a loser.-Positives
  2. It can continue in your favour and never look back.-Positives
  3. One can miss out on an opportunity due to regular price action, pullbacks/retracement, retest of a level etc-Negatives

R:R "Percentage Focus"
Quoting billytt
{quote} I trade a breakout method just after UK open... More often than not the break happens very soon after the open and the bar is broken. So this is time related as we are talking volatility when we get decent movement to make a gain.
I had a nice experience with breakouts...A Trader on youtube by the name of JannaFx does something similar to what i was doing which is trading the break of ranges prior to a news release. The issue was breakout nemesis- Reversals, the only way to avoid it is to look for a small gain or place your stop at breakeven as so as price gives you the opportunity to safely do so.

What's your thoughts? I believe most methods can make a living out of the markets, its just your expectations and rules that you operate by that will make the difference. I am all about what my risk is. As one can always lose a trade, but how much are you losing when you do. I need to be able to move on to the next opportunity without any guilt or frustration.

Some systems will have numerous losses but the ones that don't lose cover all the losses incurred on the way to those winners.
R:R "Percentage Focus"
  • Post #312
  • Quote
  • Edited 10:37am Mar 26, 2018 10:19am | Edited 10:37am
Quoting PrinceJ58
{quote} I had a nice experience with breakouts...A Trader on youtube by the name of JannaFx does something similar to what i was doing which is trading the break of ranges prior to a news release. The issue was breakout nemesis- Reversals, the only way to avoid it is to look for a small gain or place your stop at breakeven as so as price gives you the opportunity to safely do so. What's your thoughts? I believe most methods can make a living out of the markets, its just your expectations and rules that you operate by that will make the difference....
Hi, I agree in part but i cannot disagree as what you say has merit.

I look at charts and see levels, these levels are broken but they are not consistent enough for me to of lived off..

ok sometimes i get bored and scalp off the 5 minute bar levels, but this is fun.

i could never trade with a stop on break even but in theory it is a good idea.

i trade , trigger break ,push, close trade.. i will counter to keep a trade in limbo until next trade/s..

i cannot get my head around having several losses knowing a good trade will bring the money back in.
i think some of the not so good tipsters rely on this as an escape. but if you have the stats go for it.
That would really do my head in though.
Trade well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
I believe in the saying that everything is possible in this world. You can earn as much as you can on the Forex market if you have an organized approach for your trades. You need to build a good risk management scheme for your trades and implementation of this scheme properly.
Quoting solotrade
{quote} If you can do that day in, day out, week in week out, etc then you get my thumbs up. I'm a newbie and am still looking for 0.5% daily...but failing. I believe slowly, slowly is the way but....Behaviour wrong, system poor. If you would care to share your system I would really appreciate it. Thanks for reading. S.
Hi Solo and Prince, sure thing. its a counter trend strategy based on how far price moves away from the MA. Usually use a long MA period eg 1200 or 1500 and a 5M chart for more signals. When it detects (X) amount away, it makes a trade (or trades) in the other direction. Takes a few pips and closes trades on a profit target. This way I can set it to make multiple trades. I can set it for for a max total lot size and all trades will close on the input profit target. When I backtest or optimise and find settings that stand up to 5yrs or more of quality tick data with little drawdown, I set and forget. Then I start a new account. A new metatrader. Choose a new currency pair. Do the same and set and forget. Multiple accounts is so I know drawdown on one EA wont affect the other. And multiple pairs is in case another USDCHF event occurs causing wipeout. (I'm lucky I missed that one.) I guess there is alot of statistics in how pairs behave that noone can really know until they do some quality back testing. Of course i could take more pips by increasing my risk and possibly drawdown. But I like that I can set, forget and compound, keep my day job and come home and see a bit more in their each day. Happy Trading.
You can lead a man to knowledge, but you can't make him think.
Quoting PrinceJ58
{quote} Then i asked the question, in order for a trader to accomplish a % based form of trading the entries and exits have to almost be identical to successfully do this every day.
//-----

hey prince..... my trading does not lend itself to identical entries and exits everyday because the frequency of the signals themselves ...... someone trading the 5 or 15 minute chart might have better luck intraday trading..... my entrys and exits vary widely...... seldom are 12 in a row identical except under rare times.... an obvious exception would be grid trading which might have hundreds identical in a row......

my time frames are the upper ones..... the frequency of signals low.....

a perfect example of similar style would be bill willams chaos system.... it has probably 6 differing signals with as many exits.....

knowing the average frequency of every imaginable signal on every pair on every time frame is something i've mentioned many times before.... been patiently waiting for one such rare signal for 3 years now......

from prior post, a solid 4hr or hr signal backed up by a daily pin or engulfing bar...... we might get that today......h
to trade and code, keep both simple... no call to impress....h
Average annual return of top hedge funds is between 10% to 20%. Theoretically it is possible to earn 1℅ to 3% per day. But in practical consistently it is the toughest job. Market doesn't behave in the same way all the year. And practically it is not possible to make a strategy that works in all type of markets.
According to the results of the survey, most traders are used to risk a lot. I think that even 0.5% per day is quite a lot because you have to risk very much in order to get such results.
Quoting Flieldel
According to the results of the survey, most traders are used to risk a lot.
//----

hey fliedel..... we all do.....

if ya don't mind me asking, on a 500$ account with 50 to 1 leverage, what would be your max risk in dollars per trade and your max open trades at any single time.....h
to trade and code, keep both simple... no call to impress....h
Quoting Gerel
I believe in the saying that everything is possible in this world. You can earn as much as you can on the Forex market if you have an organized approach for your trades. You need to build a good risk management scheme for your trades and implementation of this scheme properly.

Excellent, you have mentioned the key ingredient in the whole aspect of trading profitable and that is what one is risking whether or not they are right or wrong. Every trade is a probability, and i think operating with a high probability (several confluence) scenario is better. Thanks for your opinion and i look forward to more inputs from your direction.
R:R "Percentage Focus"
Quoting Tinderdater
{quote} Hi Solo and Prince, sure thing. its a counter trend strategy based on how far price moves away from the MA. Usually use a long MA period eg 1200 or 1500 and a 5M chart for more signals. When it detects (X) amount away, it makes a trade (or trades) in the other direction. Takes a few pips and closes trades on a profit target. This way I can set it to make multiple trades. I can set it for for a max total lot size and all trades will close on the input profit target. When I backtest or optimise and find settings that stand up to 5yrs or more...
Good Stuff, Do what works for you, do it well and tune it like how you tune an engine. Let that engine purr, dripping water from the tailpipe, well tuned.
Be safe and Trade well.
R:R "Percentage Focus"
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