Is 5% profit per day unreasonable? | Forex Factory

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Is 5% profit per day unreasonable?

  • #1
  • First Post: Jan 30, 2009 4:00pm Jan 30, 2009 4:00pm
After completing a 500+pip week using a live mini account funded with $1000 at the begining of the week I realized that this is not going to happen every week so I was wondering if 5% a day on my brokerage account is a sustainable goal. If I was aiming for 5% a day this this week I would not have made as much but I also would not have been trading for 6 hrs a day.
What do you think?
  • #2
  • Jan 30, 2009 4:27pm Jan 30, 2009 4:27pm
everybody choose how much make (or loose) per day (or week)
  • #3
  • Jan 30, 2009 6:01pm Jan 30, 2009 6:01pm
Quoting jaws810
After completing a 500+pip week using a live mini account funded with $1000 at the begining of the week I realized that this is not going to happen every week so I was wondering if 5% a day on my brokerage account is a sustainable goal. If I was aiming for 5% a day this this week I would not have made as much but I also would not have been trading for 6 hrs a day.
What do you think?
Yeah I think it's reasonable.

With 240 trading days your 1000 USD would gain 121.7 Million Dollars in a year.
Realistic Goal in my opinion. Have seen a buch of guys do that.
  • #4
  • Jan 30, 2009 6:11pm Jan 30, 2009 6:11pm
Quoting jaws810
After completing a 500+pip week using a live mini account funded with $1000 at the begining of the week I realized that this is not going to happen every week so I was wondering if 5% a day on my brokerage account is a sustainable goal. If I was aiming for 5% a day this this week I would not have made as much but I also would not have been trading for 6 hrs a day.
What do you think?
The short answer: Yes, it is UNREASONABLE.
Stubbornly persistent
  • #5
  • Jan 30, 2009 6:13pm Jan 30, 2009 6:13pm
Quoting tunera
everybody choose how much make (or loose) per day (or week)
Actually i think the only true choice a trader has is how much not to loose.
Stubbornly persistent
  • #6
  • Jan 30, 2009 6:24pm Jan 30, 2009 6:24pm
Quoting Tjpld
Yeah I think it's reasonable.

With 240 trading days your 1000 USD would gain 121.7 Million Dollars in a year.
Realistic Goal in my opinion. Have seen a buch of guys do that.
Not quite sure but I detect a hint of sarcasm in your reply
The greatest enemy of a good plan is the dream of a perfect plan.
  • #7
  • Jan 30, 2009 6:28pm Jan 30, 2009 6:28pm
reading anything like this always reminds me of my first days of trading
  • #8
  • Jan 30, 2009 6:51pm Jan 30, 2009 6:51pm
Quoting Gift_Art
reading anything like this always reminds me of my first days of trading
Everyone that has Ever Traded had "A First Day, Week, Month" Let's give the guy credit for going Positive.

To answer the question though...
After 30+ years of Trading, I have never managed to accomplish a Steady >5% on Any Timeframe shorter than Annual.

Hang in there.
BMc
  • #9
  • Jan 30, 2009 6:54pm Jan 30, 2009 6:54pm
I think it's reasonable, under some aspect.

In the hypotetical one, yes it is reasonable that you make 5% of your account everyday, but when it become larger and larger the stress behind soo that much of money become more and more, and there come also (sometime) a crazy sensation of be like "immune" from the market traps, these 2 factors ensure that you will not be able to continue doing your 5% everyday, and you start to loose your account (maybe a big part of it), OR you just sit in do the 4% then the 3%... etc. until you trade for a 0.1% of your acct everyday.

So, hypotetical is reasonable, but in truth there are many other factor to be taken in consideration, that let it UNREASONABLE.

Your subconcious know where to stop having success (because he is happy/too much happy), and at that point it will let you go down (have losses) and let you go to the starting point, giving you a little humility more then before.

You must be humility to beat the "5% everyday UNREASONABLE thing", and if you think... do you really want to have a profit of $100 millions everyday? Are you ready for it?

No.

Like 95% (maybe 99%) of traders.

As you can see, trading is 50% psychology, 50% trading method/system (yes i write 50% trading system because market have a real complex structure and you must have a good system to be able to have 5% daily profit).

  • #10
  • Jan 30, 2009 7:48pm Jan 30, 2009 7:48pm
I am aiming for 40% a month, which is still ridiculous imo. And the best part is, I made 180% in the past 3 weeks risking 4-5% per trade. Max dd was about 10%. I need to cut down my risk.
  • #11
  • Jan 30, 2009 8:03pm Jan 30, 2009 8:03pm
Quoting Tjpld
Yeah I think it's reasonable.

With 240 trading days your 1000 USD would gain 121.7 Million Dollars in a year.
Realistic Goal in my opinion. Have seen a buch of guys do that.
i read tjplds comments just because he loves to point out impossibilities such as 5% per day.


5% per week could be feasible. 5% per day continuously? i'll sponsor you myself if you could show that
  • #12
  • Jan 30, 2009 8:42pm Jan 30, 2009 8:42pm
I do realize that there is a limit if I did it for a year I'd be making over $100K weekly and that is insane and my ultimate goal is only $4000 a day, I meant 5% a day until I hit my goal of a $100,000 account.
By the way I have never had a good day live trading until I started trading with the group I've been trading with for the past couple months and this is the first week I have been positive every day so I know this week's results are not an every day occurance but I figure if I can get lucky and increase my account by over 50% in a week I should be able to consistantly earn 5% a day without much trouble.
By the way many of the guys I trade with have institutional accounts with $50K+ balances trading 10-50 standard lots at a time. These guys have 200+pip days every week.
  • #13
  • Jan 30, 2009 8:51pm Jan 30, 2009 8:51pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Tjpld
Yeah I think it's reasonable.

With 240 trading days your 1000 USD would gain 121.7 Million Dollars in a year.
Realistic Goal in my opinion. Have seen a buch of guys do that.
yeah, i m one of them, but did it just once, now i m retired
  • #14
  • Jan 30, 2009 8:55pm Jan 30, 2009 8:55pm
It not reasonable and Tjpld is funny.
The breaking of a wave cannot explain the whole sea.
  • #15
  • Jan 30, 2009 8:59pm Jan 30, 2009 8:59pm
Quoting Tjpld
Yeah I think it's reasonable.

With 240 trading days your 1000 USD would gain 121.7 Million Dollars in a year.
Realistic Goal in my opinion. Have seen a buch of guys do that.
Tjpld, you owe me a new keyboard
Not all sins are created equal
  • #16
  • Jan 30, 2009 9:14pm Jan 30, 2009 9:14pm
Check my thread out, I ran my own calculations that are pretty darn reasonable. Tell me what you think:

http://www.forexfactory.com/showthread.php?t=150204
  • #17
  • Jan 31, 2009 2:15am Jan 31, 2009 2:15am
Quoting pipexplorer1
Check my thread out, I ran my own calculations that are pretty darn reasonable. Tell me what you think:

http://www.forexfactory.com/showthread.php?t=150204
I see your excell file, and 10 years is too long..

To make dream nicer, see my shorter version to richer...
I based my calculation on cybernet69 proved results 10% per week.
Just ask Cybernet69 how he did it.

How to get the consistent results is the main challenge..
Attached File(s)
File Type: xls ProspectCybernetprofit(1).xls   30 KB | 414 downloads
  • #18
  • Jan 31, 2009 2:49am Jan 31, 2009 2:49am
Quoting Jay Walker
Tjpld, you owe me a new keyboard
Don't laugh. I'm totally serious. Haven't you seen all the "OMG I TuRNED 1k into 121.7 Million in a YEAR!!!11" Threads?

If 121.700.000,00 USD isn't enough for you, you could go on for another year just because it was so easy.
Then you could retire with 1.48x10^13 USD (148 Trillion Dollars) which is about the diameter of our solar system in kilometers or the total value of all stocks on earth.
http://www.worldfinancialblog.com/en...is-our-planet/

So after 2 years of trading you could buy the Earth. And every trading veteran would still call you a noob with only 2 years experience.
  • #19
  • Last Post: Jan 31, 2009 2:57am Jan 31, 2009 2:57am
Quoting Tjpld
Don't laugh. I'm totally serious. Haven't you seen all the "OMG I TuRNED 1k into 121.7 Million in a YEAR!!!11" Threads?

If 121.700.000,00 USD isn't enough for you, you could go on for another year just because it was so easy.
Then you could retire with 1.48x10^13 USD (148 Trillion Dollars) which is about the diameter of our solar system in kilometers or the total value of all stocks on earth.
http://www.worldfinancialblog.com/en...is-our-planet/

So after 2 years of trading you could buy the Earth. And every trading...
I still spat out some juice and my keyboard is now all sticky.

And I haven't seen the "OMG I TuRNED 1k into 121.7 Million in a YEAR!!!11" but I'm in for a laugh. Send it in
Not all sins are created equal
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