25 percent in under a week | Forex Factory

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25 percent in under a week

  • #1
  • First Post: Feb 21, 2008 8:58pm Feb 21, 2008 8:58pm
Hi there. I have earned more than 25 percent of my account this week. Isn't that just amazing or is that just standard in this business? Do you think I should start trading for real money or should I wait.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #2
  • Feb 21, 2008 9:15pm Feb 21, 2008 9:15pm
25% is not unheard of in this field. I wonder what sort of money management you are using? How much are you risking per trade, etc.

Don't let one good week lead you into trading your hard earned money. Give it time and make sure you can consistently see returns. Doesn't have to be in the 25% per week area just consistent.
  • #3
  • Feb 21, 2008 9:22pm Feb 21, 2008 9:22pm
I'm trading for about 60 % of my account balance every time but I'm never risking that much. I'm trading on the 15m chart and I'm going for a couple pips every trade. So far the only trade I have lost was one where I entered the wrong amount to trade so I closed that one immediately for a loss of 1 pip.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #4
  • Feb 21, 2008 9:48pm Feb 21, 2008 9:48pm
Gambler:
Are you satisfied you understand the platform you are using and how the borker you have chosen works?

If the answer to this question is yes, then it would probably be time to open a small acct and see how your emotions and discipline react.

Remember, Forex is not some great big Interactive Internet Game; its a business. Treat it as such and you may last awhile.

Good Trading to you.
PS: I wont comment on your chosen methodology and MM practices as you wil come to the realizations related to those items as time goes by
In trading, there is no bullshit. You either make money or you don't.
  • #5
  • Feb 21, 2008 10:31pm Feb 21, 2008 10:31pm
Quoting mrgreen
PS: I wont comment on your chosen methodology and MM practices as you wil come to the realizations related to those items as time goes by
Or as experience wraps you in it's blanket of warmth...

Just sayin'
  • #6
  • Edited 11:21pm Feb 21, 2008 11:10pm | Edited 11:21pm
What's wrong with my money management? I'm trading with 60% but I'm not risking 60%. I'm only risking 10-15 pips in a trade. With the EUR/USD pair that would be 10-15 % of 60 % of my account. I have done some calculations and I have found out that with this system I could possibly be a millionaire in about a year if I'm starting with $100 today. Now imagine if I started with a million. Then I could be a trillionaire.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #7
  • Feb 21, 2008 11:24pm Feb 21, 2008 11:24pm
Try not to take this the wrong way but you are risking 10-15 pips to gain only a couple based on what you said in your post earlier. That risk to reward ratio will kill your account soon. Sounds more like you got lucky this week.

Just a few questions for you:

1. How long have you been demo trading?
2. How much leverage are you using?
3. Can you briefly explain what system you are using?
4. Please don't tell me you actually think you are going to take 100 bucks and turn it into 1 million in about a year, do you??
  • #8
  • Feb 21, 2008 11:54pm Feb 21, 2008 11:54pm
You absolutely need to trade some REAL money in order to
provide yourself with an honest answer to your question.

Just not a large amount of real money at first, because when you
wire it off to your broker, it will most likely be the last time you'll ever see it again.

At the same time, keep using the practice demo as much as possible.
Many successful (profitable) traders use demos and simulators, along
with backtesting - lots of backtesting, long after they've attained a
sustained profitable status.

I like to demo the markets during "impossible" trading conditions (such as
holidays, late friday afternoons, thursday nites before4 NFP releases)
to see if I foster any new ideas without the risk of losing alot of money.
Sometime I'll just trade real smal during those times for the same reasons
and it's like a demo because the amont per pip will be hard to get worried over.
Usually, it's kinda hard squeezing pips out during those times, but
every now and then I notice something new and at some point maybe I could
pull the ideas together and formulate something useful with the info.

Either way, demos and simulators are useful in their own right and i would
encourage you to continue to use them. However, until you throw your hat
in the ring and trade for real dollars (or nickels & dimes for that matter),
you wont be able to see what YOU are capable of and what's reasonable for YOU.

If someone asked me what I thought a really good ROI on a forex account would be,
I'd like to double up every week. Why not triple since it's Leap Year.
Is that realistic ?? Hell no it's not! Can it be done ? Sure it can.
Is it sustainable ? Almost a metaphysical certainty it cannot be sustained
without some type of painful drawdown.

Even Ben Bernake cannot trade forex flawlessly and he HAS tommorow's newspaper.

So It will be a fact finding experiment for you to determine what is good for you,
in what demarcations of time, and with regards paid to what level of risk assumed.

Could be 1 percent a day, 20 percent a month, 3 percent per week.
Maybe you just want to beat the S&P 500 this year. That will still be
better than the performance of thousands of Wall Street veterans this year
who won't even be able to do that and somehow will still have a job next year !

Making 25% in a week can happen and I'm sure happens to SOMEBODY evey week.
To do that 52 weeks in row is a lot like getting on American Idol TV show or
hitting 5 out of 6 lotto numbers. It can happen, but it's Waaay the exception.
Winning the season finale or hitting 6 out of 6, well, that's like, i dunno how you'd say,
but it's George Soros kinda stuff.

When it happens to you, please let us all know, because you'll be filthy rich
and we would like to bug you for some of that big money.
  • #9
  • Feb 22, 2008 12:04am Feb 22, 2008 12:04am
Quoting Gambler180
What's wrong with my money management?
Quoting Gambler180
I have done some calculations and I have found out that with this system I could possibly be a millionaire in about a year if I'm starting with $100 today. Now imagine if I started with a million. Then I could be a trillionaire.
Sorry but I can't help in seeing the irony looking at these two statements.

Gambler180, you seriously need to reconsider your strategy. If your theory about becoming a millionaire was correct, everybody would be doing it and poverty would be eradicated.

Magnumfreak is correct. Your risk to reward ratio will kill your account in time.
Not all sins are created equal
  • #10
  • Feb 22, 2008 3:01am Feb 22, 2008 3:01am
Funny you guys don't notice that he is pulling your legs.
  • #11
  • Feb 22, 2008 3:27am Feb 22, 2008 3:27am
Quoting Linus78
Funny you guys don't notice that he is pulling your legs.
But please note that stats show 95% of the legs being pulled are attached to
some other parts. :surprised Please exercise caution.

Also, that wasn't MY leg. It belongs to the person sitting on me.
  • #12
  • Feb 22, 2008 8:42am Feb 22, 2008 8:42am
Quoting Gambler180
What's wrong with my money management? I'm trading with 60% but I'm not risking 60%. I'm only risking 10-15 pips in a trade. With the EUR/USD pair that would be 10-15 % of 60 % of my account. I have done some calculations and I have found out that with this system I could possibly be a millionaire in about a year if I'm starting with $100 today. Now imagine if I started with a million. Then I could be a trillionaire.
Thanks Gambler - I have put a link to this post in answer to the following two threads here in the beginner forum. Saved me some typing. Appreciate it

http://www.forexfactory.com/showthread.php?t=68387

http://www.forexfactory.com/showthread.php?t=70464
In trading, there is no bullshit. You either make money or you don't.
  • #13
  • Feb 22, 2008 9:12am Feb 22, 2008 9:12am
Quoting mrgreen
Thanks Gambler - I have put a link to this post in answer to the following two threads here in the beginner forum. Saved me some typing. Appreciate it

http://www.forexfactory.com/showthread.php?t=68387

http://www.forexfactory.com/showthread.php?t=70464






Trainee at UBS Investment Banking
  • #14
  • Feb 23, 2008 3:00pm Feb 23, 2008 3:00pm
Quoting magnumfreak
Try not to take this the wrong way but you are risking 10-15 pips to gain only a couple based on what you said in your post earlier. That risk to reward ratio will kill your account soon. Sounds more like you got lucky this week.

Just a few questions for you:

1. How long have you been demo trading?
2. How much leverage are you using?
3. Can you briefly explain what system you are using?
4. Please don't tell me you actually think you are going to take 100 bucks and turn it into 1 million in about a year, do you??
1. For about a week
2. 1:100 at marketiva
3. No not at this time.
4. Yes I believe that I can earn more than a million in about a year with my system. I have noticed something that happens again and again in this market and I just have to take advantage of that to be a millionaire. I said earlier tham I'm only going for a couple pips. That should be understood as, I'm satisfied with just a couple pips but if I think I can earn more I will keep the trade open.

My system is very successful. As you can see on the image below I have had 13 winners and 2 losers.

I have made a journal for everyone who is interested to see how it's going with my system at http://forexfactory.com/showthread.php?t=71429

And here is the link to the image
http://img249.imageshack.us/img249/654/forexgf3.jpg
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #15
  • Feb 23, 2008 7:39pm Feb 23, 2008 7:39pm
wish you all the luck in the world. I sincerely hope you reach your goal.
  • #16
  • Feb 24, 2008 3:16am Feb 24, 2008 3:16am
I wouldn't call 13/2 very successful. 25 winners vs 1. loss with profit factor 5200 is more like it.
What I want to say that you thread poses no benefit for this forum.
You are asking people to improve your trading but you are not willing to
give anything back to them. No one is interessted how much someone has made xxx weeks. I don't want your system. Mine is far more supperior but I find your behavior a bit selfish. If anyone wants to know how I trade I'm willing to explain everything to them as best as I can.

http://img86.imageshack.us/img86/1037/testeb4.jpg
  • #17
  • Feb 24, 2008 5:37am Feb 24, 2008 5:37am
Quoting Gambler180
Hi there. I have earned more than 25 percent of my account this week. Isn't that just amazing or is that just standard in this business? Do you think I should start trading for real money or should I wait.

Couple of questions:
1) What is your stoploss?
2) At any one time how much are you risking?
3) What is your account size?

Looking briefly at the account statement, you have risked maybe 150 pips for 50 pips. Last week, trading the trend was good for almost 200 pips on EUR/USD with a risk of just 30 pips. All you need is a series of drawdowns and you'll have an empty account.
The market reveals who we really are...
  • #18
  • Feb 24, 2008 7:12pm Feb 24, 2008 7:12pm
Quoting shadowninja
Couple of questions:
1) What is your stoploss?
2) At any one time how much are you risking?
3) What is your account size?

Looking briefly at the account statement, you have risked maybe 150 pips for 50 pips. Last week, trading the trend was good for almost 200 pips on EUR/USD with a risk of just 30 pips. All you need is a series of drawdowns and you'll have an empty account.
1. I don't have a fixed stop loss
2. I'm using 60 % of my balance in a trade but I'm only risking 10-15 pips.
3. Right now it is about $127 so at Friday it should be about $150
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #19
  • Feb 24, 2008 7:13pm Feb 24, 2008 7:13pm
Quoting Tjpld
I wouldn't call 13/2 very successful. 25 winners vs 1. loss with profit factor 5200 is more like it.
What I want to say that you thread poses no benefit for this forum.
You are asking people to improve your trading but you are not willing to
give anything back to them. No one is interessted how much someone has made xxx weeks. I don't want your system. Mine is far more supperior but I find your behavior a bit selfish. If anyone wants to know how I trade I'm willing to explain everything to them as best as I can.

http://img86.imageshack.us/img86/1037/testeb4.jpg
I'm not asking you to make me a better trader.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #20
  • Feb 25, 2008 1:27am Feb 25, 2008 1:27am
Quoting Tjpld
I wouldn't call 13/2 very successful. 25 winners vs 1. loss with profit factor 5200 is more like it.
What I want to say that you thread poses no benefit for this forum.
You are asking people to improve your trading but you are not willing to
give anything back to them. No one is interessted how much someone has made xxx weeks. I don't want your system. Mine is far more supperior but I find your behavior a bit selfish. If anyone wants to know how I trade I'm willing to explain everything to them as best as I can.
Easy with the insults dude.
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