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

  • #881
  • Aug 10, 2022 6:53pm Aug 10, 2022 6:53pm
Quoting split41
{quote} With 1000 making 1% a day, you're a multi-millionaire in 5 years. With 30k initially, you're a millionaire in one and billionaire in 5 years. (Compounding, and if you're making 1% daily, why wouldn't you compound?!) But yeah, making 1%/day consistently without any drawdowns is easy as long as you put in "real work" lol Edit: Just to clarify, I think it probably has been done before as some others in this thread have said, but it doesn't work to scale and there there is a very high chance of drawdowns. I definitely agree with others to look...
False information
  • #882
  • Aug 10, 2022 10:04pm Aug 10, 2022 10:04pm
Quoting split41
{quote} With 1000 making 1% a day, you're a multi-millionaire in 5 years. With 30k initially, you're a millionaire in one and billionaire in 5 years. (Compounding, and if you're making 1% daily, why wouldn't you compound?!) But yeah, making 1%/day consistently without any drawdowns is easy as long as you put in "real work" lol Edit: Just to clarify, I think it probably has been done before as some others in this thread have said, but it doesn't work to scale and there there is a very high chance of drawdowns. I definitely agree with others to look...
Someone's biggest enemy trying to achieve this as a retail trader will be slippage on bigger lot sizes. Gonna give you fits from what I've heard at 200 lots or so on majors.
  • #883
  • Aug 13, 2022 8:13am Aug 13, 2022 8:13am
A very good day to you all

I am a budding trader with 5years of experience. 3 years going nowhere jumping from system to system. then 2 years of constant trading experience. profitable in first full year of demo. Now on my first live year, profitable thus far too.
I am looking to engage with fellow members, in order to get my full membership before starting a thread.

I personally find this thread very interesting.
So many aspects at play here.
1. The trading system and money management. does it allow retrading after a loss? how does it manage consecutive losses? Does it chase the 1% profit a day? Will it have a hard stop after a certain drawdown in a day?

If it is automated, then this system has a chance to achieve that.
If it is manual trading, then point 2 comes in play.

2. the trader's mental capacity to endure losses. can he take multiple losses while maintaining a clear mind to chase that net 1% in a day?
Doing this everyday will have a huge toll on a person.

End of the day, my take is that there is a type of trading for everyone. 1% daily is definitely possible for certain traders. I don't doubt their claims.
Safe trading, Happy trading!
  • #884
  • Aug 18, 2022 12:40am Aug 18, 2022 12:40am
Quoting investing101
{quote} False information
What is false about what I said?
  • #885
  • Aug 19, 2022 10:29am Aug 19, 2022 10:29am
It's amazing what any of these % gains per day will do to an account long term. Be picky about your trades and go for the high probability ones. Only need 1 winner.
  • #886
  • Edited 12:55pm Aug 30, 2022 2:13am | Edited 12:55pm
Had some time to play today...
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  • #887
  • Edited 9:53am Aug 31, 2022 5:51am | Edited 9:53am
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  • #888
  • Sep 1, 2022 3:45am Sep 1, 2022 3:45am
Doesn't 1% a day mean having to trade a lot or even using larger position sizes?

Won't that raise the risk significantly?

Something around 5-10% per month seems more realistic. Compounding at 10% per month can double your base capital in under a year. 100% returns a year by just aiming for 10%.
  • #889
  • Edited 3:21pm Sep 1, 2022 2:47pm | Edited 3:21pm
I've been unsuccessful in replicating my manual trading in an EA, as evident in the curve above - my different EA's all unprofitable. (EA loses consistently until I bring the account up with manual trades as shown.)
One account above and this another one.
Still trying though.
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  • #890
  • Edited Sep 2, 2022 3:55am Sep 1, 2022 3:09pm | Edited Sep 2, 2022 3:55am
So far I cannot automate this.
  • #891
  • Edited Sep 2, 2022 9:55am Sep 1, 2022 3:23pm | Edited Sep 2, 2022 9:55am
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  • #892
  • Sep 3, 2022 9:20am Sep 3, 2022 9:20am
Quoting catman1
Had some time to play today... {image} {image}
That’s really impressive! But, is it standard account or the micro? I see, sometimes you are using 60 trading lots size; that’s really HUGE!
  • #893
  • Sep 6, 2022 9:47am Sep 6, 2022 9:47am
Yes high leverage can work for or against. And in demo account no emotions. Good GAMBLING though for sure!
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  • #894
  • Nov 22, 2022 5:35am Nov 22, 2022 5:35am
Risky but 91% ROI in 2 trading days. Still practicing and getting better. ...
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  • #895
  • Edited 7:19pm Nov 23, 2022 2:26pm | Edited 7:19pm
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  • #896
  • Nov 23, 2022 9:42pm Nov 23, 2022 9:42pm
Quoting catman1
{image} {image}
gambling isn't trading
  • #897
  • Edited Nov 24, 2022 6:51pm Nov 23, 2022 10:10pm | Edited Nov 24, 2022 6:51pm
Quoting investing101
{quote} gambling isn't trading
lol, yes it is. Any endeavor for money (bet, trade, whatever) where a successful outcome is not 100% guaranteed is gambling. Look up the definition.

Gambling legal definition of gambling - Legal Dictionary
https://legal-dictionary.thefreedictionary.com › gambling

"The act or practice of gambling; an agreement between two or more individuals to play collectively at a game of chance for a stake or wager..."

So, unless you have a magical crystal ball that allows you to see the exact future (and NO: TA, PA, S/R, Murry Math, Gann, Astrology, etc. do NOT qualify as a crystal ball no matter how badly that you want to believe), then when you place a trade having an unknown directional outcome, you are gambling...
  • #898
  • Nov 24, 2022 9:25am Nov 24, 2022 9:25am
Quoting davelansing
{quote} lol, yes it is. Any endeavor for money (bet, trade, whatever) where a successful outcome is not 100% guaranteed is gambling. Look up the definition. Gambling legal definition of gambling - Legal Dictionary https://legal-dictionary.thefreedictionary.com › gambling "The act or practice of gambling; an agreement between two or more individuals to play collectively at a game of chance for a stake or wager..."...
wow, member since 2009 and you think trading is gambling ? what have you been doing all these years ?

not knowing the direction make you guess, guessing is GAMBLING.
"the public is not yet ready for it" W.D. GANN
  • #899
  • Nov 24, 2022 9:55am Nov 24, 2022 9:55am
you are wrong Kwt4x. The definition of gambling defines forex as such, and in my opinion this is the biggest casino in the world where everything is allowed. I'm sorry if I disappoint you, but don't be fooled, look at the facts. good luck and may this casino be around for a long time.
  • #900
  • Nov 24, 2022 10:29am Nov 24, 2022 10:29am
Quoting arteks
you are wrong Kwt4x. The definition of gambling defines forex as such, and in my opinion this is the biggest casino in the world where everything is allowed. I'm sorry if I disappoint you, but don't be fooled, look at the facts. good luck and may this casino be around for a long time.
I've been trading since sending orders through email and P&F charts, when it was ONLY long term.
identifying direction does not make it a casino even if you scalp.
but you can call it whatever you want.
"the public is not yet ready for it" W.D. GANN
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