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10% Profit Possible?

  • #41
  • Feb 2, 2008 9:32am Feb 2, 2008 9:32am
Quoting Dopey
Yes, there are some of us who make 10% a day. There's about 1,000 members here who do it all the time. However, as pointed out a few times in this thread, we continue to run out of money to make. This is precisely why the US continues to print money. Go, Ben, go!!! We need a few trillion more dollars this year.
Dopey,

This is a bit more risk than I'd care to take alone, but Im thinking about out raising Bill Gates's $44 billion dollar bid for Yahoo. Wanna go half?
  • #42
  • Feb 2, 2008 11:36am Feb 2, 2008 11:36am
Quoting billflet
Dopey,

This is a bit more risk than I'd care to take alone, but Im thinking about out raising Bill Gates's $44 billion dollar bid for Yahoo. Wanna go half?
Sure, I'll just use last month's profit for my half.
  • #43
  • Feb 2, 2008 2:52pm Feb 2, 2008 2:52pm
I agree with most posts in the thread. 50%-300% a day is possible, but try to make that consistently without losing more than one trade or losing no trades or with losses to an absolute minimum using stops. I can make 50% up to 150% a day now that is just on one pair. I can't find a way of making this consistent but one thread on here you can read someone did for like a week (not just a one off either - been done a few times by him and ones that tested his method) yielding over 12,000 percent in a week! You seen the thread from mysticgenie then you know this, depending on if you think it is possible after looking over his live account statements, risking only $1k - + 12500% = $126k from one week of trading high risk consistently.

Everyone loses in the forex - I don't expect anything other than that being a part of the forex world of trading. Warren Buffet lost billions. I think greed is a good account blower. If you want consistent profits you have to go about it sensibly. Unless you try what is described as above. Then you still need to use sensible trading on another account if you intend to continue trading in the future.
  • #44
  • Edited 3:29pm Feb 2, 2008 3:05pm | Edited 3:29pm
Quoting Ted1983
Thats odd, as London processes by far the largest volume of trades.
Maybe it is I who is making the money?
Go Mervyn GO!
Very odd, and yes London trades more than any other place on the planet. More American banks in London than NYC or anywhere else in the world?

Quoting Dopey
Yes, there are some of us who make 10% a day. There's about 1,000 members here who do it all the time. However, as pointed out a few times in this thread, we continue to run out of money to make. This is precisely why the US continues to print money. Go, Ben, go!!! We need a few trillion more dollars this year.
The Fed prints more USD and each time it does it the USD weakens!! The Fed prints USD from thin air! Backed by nothing but loaned to the government at a cost - the USD is a debt credit system. Always inevitable a credit/debt system will not be sustainable and always have a lifespan - why economies crash. Why there are plans for a possible new currency? Save the USD = scrap the Fed...stop them from printing USD from thin air...could help. Each time they print money they devalue the USD. Lets just hope the world reserves don't get lost soon now either...USD would stop being world official currency then. USD weakened (despite good payrolls) as fed cut rates....some economists advised against the cuts.
  • #45
  • Feb 2, 2008 5:36pm Feb 2, 2008 5:36pm
Movin' forward at my own pace.
FX will not intimidate me.
I will reside in a Palace of my design.
My wife will live in the lap of luxury.
My children will have what is best for them. Period.
I will attend to the Travel I didn't have enough time for in my younger years.
I now have the ability to assist in the research of that Dreadfull Illness.
We will accumulate sufficient funds to sustain this parish.

.....
Add to the List All You Want but let me tell you this...

If you are thinking of the list....
  • #46
  • Feb 2, 2008 8:32pm Feb 2, 2008 8:32pm
Forget the fantasy about 10% a day - just being in positive territory daily is quite an accomplishment.
History is written by the victors.
  • #47
  • Feb 2, 2008 9:41pm Feb 2, 2008 9:41pm
Quoting Money-RX
Forget the fantasy about 10% a day - just being in positive territory daily is quite an accomplishment.
Forget the fantasy about 10% a day - just staying out of negative territory daily is quite an accomplishment.

Just a personal viewpoint of a very insightfull comment.
  • #48
  • Feb 3, 2008 12:11pm Feb 3, 2008 12:11pm
Quoting Money-RX
Forget the fantasy about 10% a day - just being in positive territory daily is quite an accomplishment.
Well put my friend.
  • #49
  • Feb 23, 2008 1:32pm Feb 23, 2008 1:32pm
yes it is possible with a good system and

200% of luck


so i guess the second part make it really tough
  • #50
  • Feb 29, 2008 1:19am Feb 29, 2008 1:19am
Quoting Gift_Art
yes it is possible with a good system and

200% of luck


so i guess the second part make it really tough

Heck, if you can make 10% every month consistently, you're doing well.

http://img247.imageshack.us/img247/5...lettehost2.gif
Not all sins are created equal
  • #51
  • Mar 1, 2008 4:14am Mar 1, 2008 4:14am
I believe for every trader and his trading there is some optimum leverage where higher would be bad if he had several losses in a row and could ruin him in some unlikely but still reasonably possible sometimes case, and lower would not exploit his full profit potential. Provided of course, he CAN profit from his trading at all in the long run - which is by no means a given.

My goal is to be able to make at least 150% per month on average - on a maintained leverage of 10 that's 20.5 pips per 20 working days or 41 on a leverage of 5 (which are the leverage sizes I normally would use, 10-15 ussualy only on E/U). My improved goal is 200% per month and that's already at least 35 pips at leverage of 10 or 70 pips at 5 for 20 working days. Is this achievable ? I feel it is at this stage, but definetly quite difficult, so I'll keep practicing the demo for at least another 3 weeks sticking to the rules I set and log my profits by percent every day.

btw, I just don't think that people that made millions in forex, if there are any, would keep on trading anyway to get billions.. Gotta be waaay to greedy to trade succesfully in the first place for that..
On the path to Enrichment.
  • #52
  • Mar 1, 2008 5:46am Mar 1, 2008 5:46am
Quoting Jurrasic
My improved goal is 200% per month and that's already at least 35 pips at leverage of 10 or 70 pips at 5 for 20 working days. Is this achievable ? I feel it is at this stage, but definetly quite difficult, so I'll keep practicing the demo for at least another 3 weeks
Why not go for more? Like 300%. That will make you far more money in far shorter time.
But then you may have to demo for maybe 4 weeks or more so i understand why you go for "only" 200%.
You can always go for 500% pr month or something like that later when you have some more experience and know how to trade.
That should not be to hard, or what......?

Arctic4x
  • #53
  • Mar 1, 2008 6:59am Mar 1, 2008 6:59am
In theory, it is possible while only risking 1%.

If you scalp maybe 50 times a day, and have a high win/loss ration.

In practice, very doubtful.

Example:
Account size: £100
Risk size per trade: £1 (microlots traded, 10 pip stoploss)
50 Trades, 40 wins of 5 pips, 10 losses of 10 pips = 100 pip profit = £10
(Hope my maths is correct.)

I wouldn't put my money on it, though.
The market reveals who we really are...
  • #54
  • Mar 1, 2008 7:20am Mar 1, 2008 7:20am
150% per month. LMFAO

Question: Why do you aim for something in the first place?
Take what you get. You won't get more even if you want to.
That's it.
  • #55
  • Edited 7:53am Mar 1, 2008 7:37am | Edited 7:53am
Quoting Arctic4x
Why not go for more? Like 300%. That will make you far more money in far shorter time.
But then you may have to demo for maybe 4 weeks or more so i understand why you go for "only" 200%.
You can always go for 500% pr month or something like that later when you have some more experience and know how to trade.
That should not be to hard, or what......?
Precisely because of the balance I described in the first part of my post that you didn't quote - if you increase the leverage you risk taking serious and sizable losses if you're wrong a few times in a row. I currently do not risk more than 2% max of my account on a trade (3% for E/U on clear trend).
On the path to Enrichment.
  • #56
  • Mar 1, 2008 7:53am Mar 1, 2008 7:53am
Quoting Tjpld
150% per month. LMFAO

Question: Why do you aim for something in the first place?
Take what you get. You won't get more even if you want to.
That's it.
You're right of course, it's not that I consciously attempt to reach some number and direct my trading towards it. It's just the basic minimum goal where I think it starts to be really worth it. If I can't do that than I might as well go do some boring engineering stuff (I'm finishing my BSc in AE in 2 months) and use my free time for fun rather than more sitting in front of a screen.

Now, since last monday I started recording my daily profits (this is considering I was studying during the day or going somewhere and so on, so I wasn't free to sit by the PC and trade whenever I wanted or watch all my orders live - I trade mostly short term). These are the results (not including a stupid trade of E/U which I entered as an entry order to buy at 503 with SL at 498 and went to sleep - from which I learned my two important lessons about crossing of a major resistance and not being by the computer when placing such orders, so I won't repeat it):
1.86%- 25.02
9.27% - 26.02
1% - 27.02
2.5% - 28.02
0.66% - 29.02
On the path to Enrichment.
  • #57
  • Mar 1, 2008 8:07am Mar 1, 2008 8:07am
Seriously even a 2 digit percentage number is complete nuts.
You might aswell go to your nearest casino.
I'm sorry but you won't last long if you are looking for these kind of returns.
  • #58
  • Mar 1, 2008 8:12am Mar 1, 2008 8:12am
Well, we'll see I guess...
I'm not the type to fool myself or waste my time if it doesn't work.
On the path to Enrichment.
  • #59
  • Edited 8:26am Mar 1, 2008 8:14am | Edited 8:26am
One would have to try out every trading system, every EA and every form of MM to say that something in the Forex is absolutely impossible. Not only that, but one would have to master every trading system, EA and every form of MM too. This kind of goes for anything in life. For me to say that something is impossible is for me to say that I am an absolute master at the subject, and that I know and have experienced everything that there is to know and experience about the subject in question. No one on this thread can say that, including me.

I hate to wax poetic like I am so Forex guru, because I am not, but you'll become a better trader once you stop asking other traders what is possible and what isn't possible. Just do your own thing, and let your unique experience and abilities answer the question for you. When I first got into Forex I lost a lot of money due to learning from other people's "limited" and unimaginative thinking. I am in no way calling the "10%-a-day-doubters" limited or uncreative, nor am I saying that they are wrong. But you should be the only one to decide what is possible and what is impossible.
Binary Options Trader
  • #60
  • Mar 1, 2008 9:32am Mar 1, 2008 9:32am
@Yoda
Well how many people do you know that make 200% month after month after month after month after month... after month?
If you don't know anybody. Ask yourself. Why?
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