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Can I make 40% per month consistently

  • #101
  • Apr 30, 2007 12:28am Apr 30, 2007 12:28am
Quoting bravado
thanks captain obvious.
Sorry my friend thats from your post number 89!!
  • #102
  • Apr 30, 2007 12:31am Apr 30, 2007 12:31am
Bravado, just wanna let you know you are very very good at being negative, congrats, seriously congrats
  • #103
  • Apr 30, 2007 12:32am Apr 30, 2007 12:32am
OK well after a fun morning its back to trading.

As things stand at the moment we have potentail stoch divergence on 1 hr chart, on 30 min, 15 min and 5. We have MACD histogram div on 1 hr, 30 min and MACD div on 15 and 5 min.

Will be watching to see how this plays out.
  • #104
  • Apr 30, 2007 12:42am Apr 30, 2007 12:42am
Quoting Vantage
http://www.forexfactory.com/attachme...1&d=1177662476
that must be one very expansive license key (just joking).

i don't know what your system is. my flaw. let's just leave it at that.
BAM BAM BOOM! -bravado
  • #105
  • Apr 30, 2007 12:54am Apr 30, 2007 12:54am
Quoting bravado
that must be one very expansive license key (just joking).

i don't know what your system is. my flaw. let's just leave it at that.
from your post 129.
BAM BAM BOOM! -bravado
  • #106
  • Apr 30, 2007 1:05am Apr 30, 2007 1:05am
Quoting brxxt
Bravado, just wanna let you know you are very very good at being negative, congrats, seriously congrats
you want a hug?
BAM BAM BOOM! -bravado
  • #107
  • Apr 30, 2007 5:27am Apr 30, 2007 5:27am
Quoting bravado
you want a hug?
Well bravado, I guess that maybe just a less negative attitude would be good

It would definitly help more all of us to achieve our goals.

Vantage, brxxt and all, continue on the good work
  • #108
  • Apr 30, 2007 5:28am Apr 30, 2007 5:28am
Quoting Vantage
I'm in South Africa. Yes we had our butts kicked good and proper.
Yes definitely got kicked. But not as bad as India...lol. but i think there was a lot of injustice done to you guys in semi finals. never mind, this is not a place to discuss, I guess...its forex factory not cricket factory....
Contact me for Custom Indicators/EAs.
  • #109
  • Apr 30, 2007 6:41am Apr 30, 2007 6:41am
Quote
percentages do not tell the full story though because it is much easier to make a higher percentage return on a smaller account.

i actually increased my account by over 75% in 15 minutes this week but if you could see the actual return in pounds it wouldn't be half so dramatic.
Then in this example there was no use of proper money management. Everything is about percentage.

R/R and proper position sizing works the same for 10$ as for $1.000.000.

Achieving a certain average % account increase per week over the year is what is the key to success.

Going from last week alone:
There were 2 trades that potentially made 14+%, with risk being 2% on each. Since you know PA all I need to say is EJ PB and cable PB. Posted the charts for those examples over in the PF.

Point being - you can get the %, have fixed risk exposure AND do not need to take 50 trades for it.

My personal goal which I hope to achieve at some point in my future is a 10% per week average. Anything over 7% would be fine.

I don't think starting out aiming for 40% per month is realistic.
I do think that you should have a reason to improve and have a GOAL for that. That's what my 10% pw are, maybe that's what your 40% pm will be.

I wouldn't try it simply by overstaking and aiming for 20 pip grabs however, but that's my opinion

Take care,

SeekingLight
Trust price. Know yourself.
  • #110
  • Edited 8:08am May 1, 2007 7:38am | Edited 8:08am
Been out of action for the last couple of days due to computer problems, anyway after the fall of in price from 2.0070 due to US news being better than expected I'm looking for price to dip to around 1.9980, currently 2.0001. Will be looking for entires around there.

1.9983 is a 50% retracement from the move up on 30 Apr 5am est. There is also a pivot level at 1.9975 and various ema's on various time frames in an around this area. If it does brake down below this then the 62% retracement is at 1.9961.
  • #111
  • Edited 8:36am May 1, 2007 8:19am | Edited 8:36am
I have my way of trading but I don't mind getting the odd bit of help or assistance. One of the threads I've seen recently that seems to provide good calls is the Harmonic Wave Journal by Traex.

If he/she gives a call from here on, that I see in time and my way of trading confirms I'll be looking to take that trade. Whats more I don't even think this is cheating its an indication/confirmation/view from a different style and my system must agree.

Anyway have a look at that thread.

OK we've dipped to 1.9980 and gone back to 2.0001, if we could have a retest of 1.9980 please.
  • #112
  • May 4, 2007 4:44pm May 4, 2007 4:44pm
Quoting Vantage
Oh by the way you never ever TRUELY control the market. The market is always in control. All you can do is jump on the train at an opportune moment make a few pips (20 a day hopefully) and enjoy the ride.
i partially disagree. Ask darkstar about this. (stop hunting!)

but i agree with the riding the trade part
100% of traders are losers. Just that some win more than they lose!
  • #113
  • May 4, 2007 4:49pm May 4, 2007 4:49pm
another thing, instead of aiming for 40% why not set a drawdown limit for the week?

"can i minimize losses to 2% a week?" and let profit run!
100% of traders are losers. Just that some win more than they lose!
  • #114
  • May 5, 2007 12:50am May 5, 2007 12:50am
Quoting Mr demark
another thing, instead of aiming for 40% why not set a drawdown limit for the week?

"can i minimize losses to 2% a week?" and let profit run!
Mr. Demark,

Couldnt agree with you more....here is an excerpt from my trading plan



1st Outcome - Capital Preservation, 2nd Outcome - Growth, 3rd - Income

My first outcome for any strategy i trade is: How can i protect my capital and survive to trade forex for my lifetime.
Contact me for Custom Indicators/EAs.
  • #115
  • May 6, 2007 5:32pm May 6, 2007 5:32pm
I also agree with them, aiming for 40% a month and aiming for 20 pips a day is not the best way to reach consistent success.
When i went thru my first acct i was reaching for 20 pips a day, but i never really took into consideration that since you will have a certain amount of losing trades and a certain amount of winning trades, you obviously want to keep the wins greater than the losses and when you take out all of ur profits at 20pips your not getting the most out of ur trades so its hard to keep them larger than the losses
  • #116
  • May 6, 2007 6:09pm May 6, 2007 6:09pm

I wonder if a scalper can have a 40% win consistently? Or if by making 5 or 6 trades every day, or trading 5 or 6 currencies a day, you can have a 40% win over time? Maybe, but as it's not my trading style, the above hasn't worked for me (ditto options; carry trades, thus far).

Asking whether a 40% win ratio is possible isn't so simple. It depends on your parameters: technical, fundamental, psychological, tolerance for risk, etc. In my experience, if the discipline in these areas isn't more or less airtight, the answer to the 40% question is, no, it's not possible.



  • #117
  • May 6, 2007 10:52pm May 6, 2007 10:52pm
Heck at this stage if I could get in front of a computer with software working I'd be happy with that at this stage, lots of problems in the last two weeks.

Anyway hiho hiho its off to work we go ............................
  • #118
  • Edited May 21, 2007 1:59am May 20, 2007 11:28pm | Edited May 21, 2007 1:59am
Back again after much fun and games. Been looking at some cool threads (I have no idea why I decided to look at these as opposed to the many others available):

brxxt's My Path to Financial Freedom gives interesting supp/res levels
Traex's Harmonic Wave Journal
Why Oh Why's Cable (GBPUSD) Trend Trading

If you are newish to FF and you haven't had a look at these yet I highly recommend them. If you see a thread that strikes you as being very good feel free to mention it.

My trading levels for this morning (all v USD)

Buy
GBP 1.9710
JPY 121.06
CHF 1.2251
EUR 1.3488

Sell
GBP1.9970
JPY 121.46
CHF 1.2300
EUR 1.3542
  • #119
  • May 20, 2007 11:47pm May 20, 2007 11:47pm
hey vantage, thx for the support

just wondering what ur buy/sell levels are based on, is it the leveragefx stuff?
  • #120
  • May 20, 2007 11:49pm May 20, 2007 11:49pm
Quoting brxxt
hey vantage, thx for the support

just wondering what ur buy/sell levels are based on, is it the leveragefx stuff?
Their 4 hr statistical highs and lows, so in another 4 hrs we get more levels.
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