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Cable Update (GBPUSD)

  • #799,421
  • Dec 28, 2023 12:48am Dec 28, 2023 12:48am
Quoting navk
{quote} one can do this with copy trading. Demo account 100 k shall be sender. 1000 $ real money account shall be receiver. The lot size multiplication is automatically done
//-----

we are not talking about the same thing.....

that script has nothing to do with anything except calculating a yearly rate of return on a beginning account balance...... i used supermans conditions as defaults, 1.7 roi compounded daily, 400$ beginning balance and 262 trading days, a year..... works out to slightly more than 30k like he said......

those values can be changed.....

the difficult, perhaps impossible , part will be averaging 1.7 percent per day for a year......h
to trade and code, keep both simple... no call to impress....h
  • #799,422
  • Dec 28, 2023 12:54am Dec 28, 2023 12:54am
Quoting Fardeen1209
{quote} If trading was this easy, everyone would be a billionaire. And trading does not consists of win only, the other half is loss. Losses slow down the compounding process and required more effort to get back what you lost. Time also an important factor to consider in the equation
I understand that time factor perfectly. That's why I said "average ROI" of +1.7% per day and +45% per month to get from $400 to $30k in a year, and that it would take longer to complete each of my levels past level 23 due to lower leverage rates. The average ROI is computed after all trades are completed, losses and winnings combined, as in my +61.9% return this month. If I would make that kind of return every month on average, then it won't take very long for me to climb those levels I laid out. Of course I am aware that losses do happen. It's all part of trading of which I have had the opportunity to experience for 52 months now. I still consider myself an inexperienced rookie, but I won't stop trying until I learn how to survive and thrive in this war zone.
You cannot fail if you never give up.
  • #799,423
  • Dec 28, 2023 1:00am Dec 28, 2023 1:00am
Quoting hayseed
{quote} //---- 1.7 per day for a year...... that's a steep hill to crawl up..... .....h //------ {file} {file}
Actually, it's not much. Getting +100-200% gain per month is more like average for an experienced skilled trader. You just have to understand that the risk remains the same no matter what, and that you can't lose more than what you invested in the beginning. If you start with $400, that's all you stand to lose, even while your account may be at $30k from trading all year. It's all in your head, really. That's what I'm working on with myself, to not let the money go to my head when I get there, and treat every trade the same, regardless how big it is.
You cannot fail if you never give up.
  • #799,424
  • Dec 28, 2023 1:04am Dec 28, 2023 1:04am
Quoting navk
{quote} aa4fx : I clarified how it is possible , one can make 29 k in a year with 400 $ repayable fee. I am waiting your reply in three lines how to ( you ) make 29k in a year with 400 $ real money account. Use my point no. 1,2,3 so that I can understand. And just write theoretically, that is enough. No need to show proof
Not sure where this conversation started but wanted to say something on this:

There is something like 250 trading days in a year but take 20 days a month as a baseline so 240 trading days. Maybe take a couple of trading days of a month to chill.
Make just $250.00 a day is $5000.00 a month is $60,000.00 in a year. In 20 years it's 1.25 Million.
I'm talkin an average of $250.00 a day because of course you'll have losing days.
Is this too much? Because I don't think it's too much and relatively easy but of course requires Ninja focus. You'll have to stick to a winning strategy and not deviate from that strategy. Nor can you deviate from that mindset no matter how attractive she is
To average $250.00 a day need to make $400.00 a day to allow for loses and mind deviations....
Just a thought but that's the targets I'm setting for 2024

But remember it's not profit until it's in your pocket so make sure money is coming back to your bank account on a regular bases. No point throwing it all away at Christmas time like many traders do!
Don't Leave Money on the Table
  • #799,425
  • Dec 28, 2023 1:04am Dec 28, 2023 1:04am
Quoting 7154Superman
{quote} I understand that time factor perfectly. That's why I said "average ROI" of +1.7% per day and +45% per month to get from $400 to $30k in a year, and that it would take longer to complete each of my levels past level 23 due to lower leverage rates. The average ROI is computed after all trades are completed, losses and winnings combined, as in my +61.9% return this month. If I would make that kind of return every month on average, then it won't take very long for me to climb those levels I laid out. Of course I am aware that losses do happen....
Good luck to us
Focus is the mainstay in trading
More time in the market, does not mean you trade better!
  • #799,426
  • Dec 28, 2023 1:06am Dec 28, 2023 1:06am
Looks like DXY is starting to continue down.
  • #799,427
  • Dec 28, 2023 1:07am Dec 28, 2023 1:07am
Quoting MrFanciful
Looks like DXY is starting to continue down.

Yes I have a support line at 100.80

Be better if a bit of a pullback on GU and EU then buy lower
Don't Leave Money on the Table
  • #799,428
  • Dec 28, 2023 1:08am Dec 28, 2023 1:08am
Quoting dantpm
{quote} There is another detail. He is ignoring the software supercomputers that manage trading. As soon as he starts putting in his multi-million orders, those computers are going to start working harder to extract liquidity from his accounts to 'fund' their price movement activities, significantly increasing his level of difficulty! This is why any 'system' that works and becomes popular simply stops working. It's the popular piece that kills it!
Agreed. Any new system that makes quick and steady money is temporarily because it exploits loopholes that quickly get filled once market makers identify the loopholes in the their own system.
More time in the market, does not mean you trade better!
  • #799,429
  • Dec 28, 2023 1:14am Dec 28, 2023 1:14am
Quoting voeltoez
wont tries to.compound account again, makes me more greedy..not good for psychology
I agree, been there, done that. But compounding is the only way trading can be worth the effort, stress, and time you put into it long term.
That's why I set up the level system and wrote it down so I can find closure in my head about the potential of wealth. It keeps my focus on my current goal of +100%, and not think about the money. I will think about the next level when I get there. That's also why I will need to withdraw like at least 40% of the profit for income after each level is completed (from level 4 on), so I can feel rewarded in real life and to reduce some of the risk along the way just in case something happens and I lose the account, like if the broker shuts down and can't pay me back.
It's all a mind game. Those who master their minds during trading and treat $100k the same as $100, because it's all in the percentage, they are the ones who make it big in the end. Seek to stabilize your mind and emotions, as well as fine tuning your trading strategy. Find a system that works for you and that keeps your focus on the percentage of 0-100% regardless of the amount of money involved. Be aware of how huge $$ signs affects your psychology, and don't let yourself get distracted by that. What you focus on, you make room for. And you cannot fail if you never give up. Seek for small gains/targets. Once achieved, forget it, and move on to the next target.
That's the mentality I want for myself and be able to teach it to my children from experience.
You cannot fail if you never give up.
  • #799,430
  • Dec 28, 2023 1:18am Dec 28, 2023 1:18am
Maybe Alasdair Macleod was right in his latest Palisades Gold Radio podcast when he said that the dollar is just a few steps behind the Argentinean Peso
  • #799,431
  • Dec 28, 2023 1:19am Dec 28, 2023 1:19am
I love the figures being thrown around. 1.7% per day. 250 per day on a 400 dollar account?. Someone show me these strategies, i wonna be a billionaire
  • #799,432
  • Edited 1:31am Dec 28, 2023 1:21am | Edited 1:31am
Quoting dantpm
{quote} There is another detail. He is ignoring the software supercomputers that manage trading. As soon as he starts putting in his multi-million orders, those computers are going to start working harder to extract liquidity from his accounts to 'fund' their price movement activities, significantly increasing his level of difficulty! This is why any 'system' that works and becomes popular simply stops working. It's the popular piece that kills it!
Oh, I am fully aware of how the supercomputers operate to steal the retail trader's money, especially once he starts getting big into the millions. I mentioned it a while back, that once you get into the millions, you're better off taking your extra Forex profits to invest in stocks and crypto.
This is also why I still don't have a systematic trading strategy. I prefer to play by ear, and let my experience tell me what to do in the moment because what worked yesterday is not likely to work today. The style of price action changes every day. It's done that way on purpose to confuse and surprise even seasoned traders.
You cannot fail if you never give up.
  • #799,433
  • Dec 28, 2023 1:22am Dec 28, 2023 1:22am
How deep?
  • #799,434
  • Dec 28, 2023 1:22am Dec 28, 2023 1:22am
Quoting 12pips
I love the figures being thrown around. 1.7% per day. 250 per day on a 400 dollar account?. Someone show me these strategies, i wonna be a billionaire
I never said $250 a day on a $400 account and I'm asking people do you think it's too much?
If so what's in your reality??

No one ever achieved much by thinking small.....
Don't Leave Money on the Table
  • #799,435
  • Dec 28, 2023 1:24am Dec 28, 2023 1:24am
Quoting dantpm
{quote} There is another detail. He is ignoring the software supercomputers that manage trading. As soon as he starts putting in his multi-million orders, those computers are going to start working harder to extract liquidity from his accounts to 'fund' their price movement activities, significantly increasing his level of difficulty! This is why any 'system' that works and becomes popular simply stops working. It's the popular piece that kills it!
That means if one has found a profitable system, keep it to oneself and do not share it, so it will be profitable forever?
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #799,436
  • Dec 28, 2023 1:24am Dec 28, 2023 1:24am
Quoting dantpm
{quote} There is another detail. He is ignoring the software supercomputers that manage trading. As soon as he starts putting in his multi-million orders, those computers are going to start working harder to extract liquidity from his accounts to 'fund' their price movement activities, significantly increasing his level of difficulty! This is why any 'system' that works and becomes popular simply stops working. It's the popular piece that kills it!
This is why I trade randomly...
  • #799,437
  • Dec 28, 2023 1:24am Dec 28, 2023 1:24am
Quoting HaLBot
{quote} I never said $250 a day on a $400 account and I'm asking people do you think it's too much? If so what's in your reality??
I try to get 15 pips. I try not to pay attention to the monetary gains. Pips and account balance percentage for me.
  • #799,438
  • Dec 28, 2023 1:25am Dec 28, 2023 1:25am
Quoting 7154Superman
{quote} Oh, I am fully aware of how the supercomputers operate to steal the retail trader's money, especially once he starts getting big into the millions. I mentioned it a while back, that once you get into the millions, you're better off taking your extra Forex profits to invest in stocks and crypto. This is also why I still don't have a systematic trading system. I prefer to play by ear, and let my experience tell me what to do in the moment because what worked yesterday is not likely to work today. The style of price action changes every day....

Geeeeez if I got into the millions be opening up my own prop shop and letting my traders take on the stress and enjoy the tax benefits of a company
Don't Leave Money on the Table
  • #799,439
  • Dec 28, 2023 1:25am Dec 28, 2023 1:25am
sold 1.2820
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #799,440
  • Dec 28, 2023 1:30am Dec 28, 2023 1:30am
Was everyone other than me thinking after such a move "Now's a good time to buy"?
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