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forex fundamentals are way too vast

  • #21
  • Jul 1, 2007 10:56pm Jul 1, 2007 10:56pm
Quoting SunTrader
OK you go boy, but can you please let me have my own little corner of the world somewhere, huh?

Reminds me of a guy I worked with at one time. The guy said in talking about his daughter: "In one ear and and in the other" And for those who've never heard of the expression it is "in one ear and out the other".
lol nice another pro trader that knows everything
  • #22
  • Jul 1, 2007 11:01pm Jul 1, 2007 11:01pm
Well, I dont know about consistently makeing 10% a month. IF you are doing it congratulations! If i make a few pips in the right direction i am happy. Not gonna make me rich, but its a good feeling none the less.
  • #23
  • Jul 2, 2007 1:52am Jul 2, 2007 1:52am
Quoting mbqb11
'

10% a month(on avg) is more then doable...and if i was only making 10% a year I would not be wasting my time trading my own account.
I assume with this statement, you agree that 100% yearly return is very possible ? I just wanna make sure that I'm not aiming at an illogical target LOL ....
  • #24
  • Jul 2, 2007 2:01am Jul 2, 2007 2:01am
Quoting luqmanz
I assume with this statement, you agree that 100% yearly return is very possible ? I just wanna make sure that I'm not aiming at an illogical target LOL ....
absolutely is possible.

Just a few comments to add to this topic.

You are more experienced(so this isn't directed at you), but for a new trader, they shouldn't have the wrong type of goals(or rather expectations), such as I need to make 40% a month(your system/method determines your results, don't go chasing the market for results). And results are absolutely going to vary, but eventually you will be able to get a pretty good idea of what to expect in the long term from your trading plan. 1 month of results is meaningless. So in this sense I do agree with Sun, but too say that avg 10% a month is not possible(consistently), is just completely false and that is a fact.
  • #25
  • Jul 2, 2007 2:44am Jul 2, 2007 2:44am
Quoting mbqb11
absolutely is possible.

Just a few comments to add to this topic.

You are more experienced(so this isn't directed at you), but for a new trader, they shouldn't have the wrong type of goals(or rather expectations), such as I need to make 40% a month(your system/method determines your results, don't go chasing the market for results). And results are absolutely going to vary, but eventually you will be able to get a pretty good idea of what to expect in the long term from your trading plan. 1 month of results is meaningless. So in this sense I do agree with Sun, but too say that avg 10% a month is not possible(consistently), is just completely false and that is a fact.
Good to hear that.

In your experience, for people who trade for banks, what is the profit sharing ratio ? 20% of the net profit ?
  • #26
  • Jul 2, 2007 2:48am Jul 2, 2007 2:48am
Quoting luqmanz
Good to hear that.

In your experience, for people who trade for banks, what is the profit sharing ratio ? 20% of the net profit ?
that is territory I couldn't help you with, not familiar... sorry.
  • #27
  • Jul 2, 2007 3:03am Jul 2, 2007 3:03am
Quoting mbqb11
'

10% a month(on avg) is more then doable...and if i was only making 10% a year I would not be wasting my time trading my own account.

Mike, I know for a fact you made at least 10% on a single trade since last Wednesday.
He's such a modest guy

And guess what folks, he didn't risk 1000 pips doing it nor more than 2% of his account. Nor would he need to

(But I won't mention the other 3 like it Mike, no worries, else you will end up with 500 PMs in 10 minutes )


As for on topic: inflation, rates, resulting interest differential/yield. That's it.
And potential meltdown scenarios.

Other than that - I wouldn't get out of bed if I thought this business couldn't make 10% per week once mastered and 10% a month without risking more than 1% per trade(max. total exposure < 5%).


Fundamentals can be interesting, but to be honest?

All you need to trade and win is your chart, period.
Trust price. Know yourself.
  • #28
  • Jul 2, 2007 3:08am Jul 2, 2007 3:08am
Quoting semar
Try to read as many analysis as you can to make an ideea with what a forex analysist will see

I'd advise to try and ignore if possible 100% of the rest of the world in trading. Trade detached, autistic, don't read other people's opinions, trades, calls or analysis. ESPECIALLY when starting out.
I'm not joking.

Find a working system, isolate yourself, perfect it, ignore all else.

I have wasted SO MUCH TIME listening to talking heads, would be analysts(post-factum BS 99% of the time with minor good exceptions I keep in good regard) and other noise. Distraction and detrimental to your trading.

You can indulge in all of that once you are certain of yourself, have experience and know what you're doing and why. Then the boredom sets in, then that stuff is entertaining. Or annoying when you can see through some of their "reasons".

Just my personal view on things however.
Trust price. Know yourself.
  • #29
  • Jul 2, 2007 4:50am Jul 2, 2007 4:50am
Only 10 percent year. Are you insane?

I tell you, this forum give me the creeps because many ppl talk about forex just like it was somekind of savings account for the aged.

Im thinking "Hey come to forex. With forex you will have food and shelter when you get old"...

Just one question. Are you aware of yen pairs. Do you have any idea what kind of money, carry traders made in last years, trading on a daily basis?

And by the way, when you say... hey someone getting 10 percent month is growing exponencialy , so he will own the world soon.

First: There is limits in forex brokers and where there is no limits, the execution starts to lose quality not affordable managing that kind of money.

Second: Banks dont have that limits, but not every bank has to be a great forex trader.

Third: Banks OWN the world anyway.

Fourth: Its possible to get to a value so great that it cant be leveraged, just raw invested, so despite winning alot, the percentage will slowdown.

Fifth and last: When you get a lot of money, despite you know that you can continue to invest in the same way. You would be insane to risk your life fortune the same way you risked a few thousands of euros or dolars at the beggining.

Every ppl that started a business, probably invested his life saving and entire pay checks. But when he gets on top, he will not invest in the same way DESPITE he has his own life prove that is possible to get on top with that kind of margin error.

So. If you want to talk about trading ok. IF you are here to say to me that 10 percent month is impossible forever when i see incredible days that its possible to do that 10 percent in a few hours. Please dont make me laught.

Of course i cant do it every day, but 10 percent in a perfect setup and i can wait until another dont wasting my 10 percent in everything i see, like a 10 percent year trader probably does. Wins but looses milions of times.
  • #30
  • Jul 2, 2007 7:49am Jul 2, 2007 7:49am
Quoting Warper
Im sorry but i will never understand this kind of margin. Sometimes i compare this kind of investment to someone having a beach and investing one grain of sand per trade, because that trader believes that even if he is a good or great trader, he can loose the entire beach in a row anyway. Maybe im wrong but let me ask you something...

When you arrive at the end of the month and realize that your losing trades never even got close to 1/10 of the total ammount, dont you get sad to see that you are putting aside tons of margin that you only will be losing if you are really bad.

Lets put it this way. 1000 pips equals 10 percent in your strategy so you have to lose 10 Thousand pips to lose it all. I guess someone with few knowledge and experience can lose it, but i assume you know a little bit of forex so, how the hell someone who knows what is doing will lose 10 THOUSAND pips in a row (assuming that dont even win a trade AND assuming that it wont be reducing the lots invested at the pace that is losing, because doing that we can have 10 000 pips to lose at all time.

Thats wierd. Some ppl gain 100, 200, 300 pips and get 10 percent. Dont you mind to have the insane work to gain 1000 pips in one month and then realize that you only gained 10 percent, who means that if you win few the next month the average will take you rich in decades.



Im not saying that he can, im not saying that everyone can, but i just ask...

If you cant or dont believe its possible, what are you doing here for god sake?

Please awnser me, earning 10% profit average on forex its impossible for a good trader?

What does a good trader should win on forex per month? 1 percent?

I understand what u are trying to say. My philosophy is different to most traders. I eliminate the only thing that can blow my account.....namely loosing trades. i DO NOT take any risks. i only trade what my gearing allows me to trade. Hence i will never have a loosing trade in my life and will never blow my account.

And it will not take me decades to earn riches. Do the calculation. You start with a $10 000 account making 10% per month playing $1 lots. As ur account grow u adjust your lots. It would take u 26 months to reach $100 000. Even if it takes me 5 years to get there it is still okay with me.

Greed is the number one reason why 95% of all forex traders fail.

I cannot say what a trader should make a month. That is up to every trader to decide for himself.

anyway each trader to his own. As long as u make pips then ur on the right track.
  • #31
  • Jul 2, 2007 2:32pm Jul 2, 2007 2:32pm
I think some of us here are comparing apples to oranges.

I am talking about 10% monthly compunded return on the money in an account.

For instance starting with a $1000 balance and it seems most here on FF barely could scratch that together. At 10% monthly profit factor on $1000 compounded monthly after 10 years would come to over $84 million. After 20 years something like $7,813,610,400,000

Nice money if you can get it.

Now let me further state that yes there are traders consistantly making more than 10% at year. Even some that trade large accounts. And it is true that the larger the account size the harder to trade effectively without influencing the markets. I don't know anyone nor will I ever know anyone with that worry.

But if you trade long enough (I have just 13 years till now) you see what is and isn't possible.

Or you can just pickup the latest issue of Futures magazine (July'07) and see April's top CTA's: more than $10 mil mgmt Apr +21% / YTD -2.98% and under $10 mil mgmt Apr +27.34% / YTD -9.69% and similar results for public funds.

Now even though this is Futures including currency futures it is not purely forex only. Results shouldn't be too different though.
  • #32
  • Jul 3, 2007 3:01am Jul 3, 2007 3:01am
Quoting SeekingLight
I'd advise to try and ignore if possible 100% of the rest of the world in trading. Trade detached, autistic, don't read other people's opinions, trades, calls or analysis. ESPECIALLY when starting out.
I'm not joking.

Find a working system, isolate yourself, perfect it, ignore all else.

I have wasted SO MUCH TIME listening to talking heads, would be analysts(post-factum BS 99% of the time with minor good exceptions I keep in good regard) and other noise. Distraction and detrimental to your trading.

You can indulge in all of that once you are certain of yourself, have experience and know what you're doing and why. Then the boredom sets in, then that stuff is entertaining. Or annoying when you can see through some of their "reasons".

Just my personal view on things however.

I have to agree with you 100%. I started out listen to everybody. Only later to find out they know even less than i do. Then i did my own thing. And i dont look back.

But i must confess i like reading all the "expert advice" here on FF. Gives me a giggle every now and then........
  • #33
  • Jul 3, 2007 9:19am Jul 3, 2007 9:19am
Quoting iandekoker
I have to agree with you 100%. I started out listen to everybody. Only later to find out they know even less than i do. Then i did my own thing. And i dont look back.

But i must confess i like reading all the "expert advice" here on FF. Gives me a giggle every now and then........

I would disagree...there always be people smarter than u out there...even if they dont tell you everything there is to know...they may, at least, tell you more than you can ever know on your own...of course you need to judge and mold what you learn from others, but that doesnt mean you should try to learn at all

Good artist copy, Great artists steal.
  • #34
  • Jul 3, 2007 11:00am Jul 3, 2007 11:00am
Quoting xxfunguyxx
there always be people smarter than u out there...
they may, at least, tell you more than you can ever know on your own...
that doesnt mean you should try to learn at all

Good artist copy, Great artists steal.
ERrrrrrrrrrrrrrrrrrrrrrrrrmmmmmmmmmmmmmmmmmmmm........
Trust price. Know yourself.
  • #35
  • Jul 4, 2007 12:51am Jul 4, 2007 12:51am
Quoting iandekoker
I understand what u are trying to say. My philosophy is different to most traders. I eliminate the only thing that can blow my account.....namely loosing trades. i DO NOT take any risks...
"Not risking is the surest way of losing. If you do not risk, risk eventually comes to you. There is simply no way to avoid taking a risk. If a person postpones taking risk, the time eventually comes when he will either be forced to accept a situation that he does not like or to take a risk unprepared"
quote from - David Viscott,MD Commodity trader's Almanac,1989
  • #36
  • Jul 4, 2007 3:08am Jul 4, 2007 3:08am
Quoting xxfunguyxx
I would disagree...there always be people smarter than u out there...even if they dont tell you everything there is to know...they may, at least, tell you more than you can ever know on your own...of course you need to judge and mold what you learn from others, but that doesnt mean you should try to learn at all

Good artist copy, Great artists steal.

ok if i can find anyone that will tell me ecatley what price the eur/usd will be trading at at 14:00 on monday 9 july then i will listen to them....but since i know that nobody can predict the future i dont think there is anyone out there that can do it......

ps...if everyone followed aristotle we would still think the earth is flat.....thank god for the copernicusses' and galilei's of the world....people who think for themselves...lol
  • #37
  • Jul 4, 2007 12:19pm Jul 4, 2007 12:19pm
Quoting iandekoker
ok if i can find anyone that will tell me ecatley what price the eur/usd will be trading at at 14:00 on monday 9 july then i will listen to them....but since i know that nobody can predict the future i dont think there is anyone out there that can do it......

ps...if everyone followed aristotle we would still think the earth is flat.....thank god for the copernicusses' and galilei's of the world....people who think for themselves...lol

That is exactly the point. If we all thought the world was flat we wouldn't venture very far across the seas.

It took someone to take the risk to find out.

Nothing ventured, nothing gained.

No risk, no reward.

How many of these expressions do you need to hear before it might sink in. No losses = no wins. Two more, there is no such thing as a free lunch - and there is no sure thing in life.
  • #38
  • Jul 4, 2007 12:53pm Jul 4, 2007 12:53pm
Quoting SunTrader
That is exactly the point. If we all thought the world was flat we wouldn't venture very far across the seas.

It took someone to take the risk to find out.

Nothing ventured, nothing gained.

No risk, no reward.

How many of these expressions do you need to hear before it might sink in. No losses = no wins. Two more, there is no such thing as a free lunch - and there is no sure thing in life.
ok explain to me why i made over 2000 pips in june without any losses if you insist that no losses = no wins?
  • #39
  • Jul 4, 2007 1:02pm Jul 4, 2007 1:02pm
Quoting iandekoker
ok explain to me why i made over 2000 pips in june without any losses if you insist that no losses = no wins?
I'm just curious, how many trades did you enter in June? And on average what was the length of each trade?

Thanks
Tom
  • #40
  • Jul 4, 2007 1:22pm Jul 4, 2007 1:22pm
Quoting moneybags
I'm just curious, how many trades did you enter in June? And on average what was the length of each trade?

Thanks
Tom
i made 74 trades in june.....most trades i closed on the same day....a few trades i closed after 2-5 days.....the longest trade i left open for 9 days....

what i do is to buy say 0.20 lot...then after 20 pips i would close 0.10 lots...then after another 20 pips i would close another 0.05 lots...the last 0.05 lots i would let run till it hits take profit level or come back to hit trailing stop loss level.

i hope it helps
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