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(can) small accounts make a living ?!

  • #61
  • Mar 1, 2009 7:42am Mar 1, 2009 7:42am
Quote
Funny, I got the exact opposite from the exchange between the thread starter and Rabid. Rabid seems to be the one with the chip on his shoulder, the thread starter has shown nothing but professionalism when deflecting those attacks.

Funny. If it quacks like a scam... LOL. I must've really hit a nerve for people to keep talking about me.

Only thru challenge can we find truth.

Want a good example of a non-scam thread? Go over to clockwork's thread.

Quote
I'd be more inclined to look at the content of those who have come and finally left than those who hang around racking up posts trying to prove they have all the answers... and who cares how long the thread lasts, either there will be some value someone will get out of it or there won't.

I don't pretend to have all the answers (if only...), but I sure know bulls--t when I see it.

Quote
It's amazing how the vouch thing gets thrown around here with such little thought.

Or perhaps people that do the vouch thing are just smarter than you think.

The title of this thread is "get rich quick" (more or less). And you're wondering why people that spend time around here are skeptical. I can't begin to explain how horribly bent that antenna is.

Anyway... for ya'll who love the OP and his "good intent" why do you keep bringing me up? Every time you do you just advertise my doubts to everyone that enters the thread. Thanks for that. Too bad I'm not selling anything, I'd be rich from this thread alone.
  • #62
  • Mar 1, 2009 8:34am Mar 1, 2009 8:34am
Funny how lines have been drawn in the sand here already although Reardon has not yet shown his hand or anything of objective value. Until he does and continues to make unsubstantiated claims to achieve the unlikely then those who have seen threads like this that promise much yet deliver little will coninue to wave the BS flag. Those who are defending Reardon should ask themselves why they are fighting his corner - is it because he has provided some evidence or is it because you want to believe (ie. you have a small account and you want to make a living from it)? Only the truth matters. He said he'd offer more info in the coming days so I suggest we reserve our judgement (Koolaid and noose), until this time elapses.
  • #63
  • Mar 1, 2009 8:54am Mar 1, 2009 8:54am
Hi Folks !

Long time I didn't post here on FF because I lost interest
Now you can ask yourself Why ?.....

Forex is not an easy thing until you got the trick ...
That could last for years to come to that point.
(See for example the trading wizards books..)

Here are some points I find useful before jumping in the shark pond :

1. You have to love this business to death !!
2. Don't even think a second about money; its the beginning of the end..
3. Don't underestimate the psychological pressure when trading with a small
account for a living !!
For a pro a nice play its no problem but....
4. Before you risk any thought on trading for a living define your personal
financial freedom number.
This is the minimum amount of money you need for living.
5. Decrease this number as small as possible
(e.g. no car, no cigarettes, relocate to a smaller appartment ...)
6. Work your ass off in your job to save a basic stake of money to live
minimum 2 years with this minimum amount of monthly money.
e.g. say your financial freedom number is 1000 $ you have to save
24.000 $ before.
7. Now there is missing trading capital....
8. How much you need depends on your skills
I think for trading 1$/pip you need minimum additional 10.000 $
9. When you compound this capital by generating 10%/month you have about 100.000 $ after 2 years.
10. Then you can trade 10$/pip and by making 20 pips a day you can have
a nicer living....

Thats all for today

It's possible but it depends on the individual !!
No more to say here

Good luck to all and happy pippin

Bernhard
  • #64
  • Mar 1, 2009 9:00am Mar 1, 2009 9:00am
Let the guy post what he wants *then* draw your conclusions, without anything substantial there are already conflicts. I'm not taking either side, i just say let this develop before killing it.

I'd be taking a look if this develops, I did start with a relative small amount and in the last year and an half I could make a living just based on forex income. It was all about compounding. Also the amount that for me means "make a living" maybe well different from others... Hence the relative... relative...
Traders are smartasses
  • #65
  • Mar 1, 2009 9:01am Mar 1, 2009 9:01am
Quoting birdt
Funny how lines have been drawn in the sand here already although Reardon has not yet shown his hand or anything of objective value....
Was going to post but this message basically says everything I was going to say.

Still waiting to hear from Reardon.

That guy above me has some good points too.
  • #66
  • Mar 1, 2009 9:07am Mar 1, 2009 9:07am
Rabid,

I have now read several times through the thread.

Maybe I am the blind one here but can you actually explain to me in your own words what evidence in Rearden's posts lets you conclude that this is a scam?

Is it the fact that he has no vouches (yet)? Well, you have started off without them and in fact you have started 17 threads in more or less one year and over one thousand posts - to do that in a sensible manner, you must have spend more hours than there are in a day to familiarize yourself with each thread content in order to make qualified comments.

I have to agree with some other posters here: the length and amount of posts contributed has nothing to do with the quality of the poster.

regards
daytrading
Enter Signature
  • #67
  • Edited 10:09am Mar 1, 2009 9:26am | Edited 10:09am
How does this title imply that the author of the thread has made a outlandish claim? How does this title imply that the author has in any way even answered this question. Where is the get rich quick part in this title?

I had been considering discussing my experiences in trading and I have been trading a long time and have learned a few things. I now see that would be an exercise in futility. I doubt I would be allowed to get any of the topics I would wish to to discuss out before being labeled and also contradicted by those who in all truth have no idea what I am attempting to convey.

I see now quite clearly there will be no meaningful dialog or discussion taking place in this forum as long as this sort of behavior continues.

Mr/(Ms) Rearden, I had hoped I would have been able to read your points of view on trading topics. I now know with certainty that due to a few that will not be possible. And so it goes for many more discussions that have been attempted here.

I am always open to new ideas, unfortunately a few are not and it probably is not worth your time.

All of this behavior of late reminds me of the McCarthy era. ( Yes I am that old, a child during it).

I will not intrude again, and am truly sorry that this is how a guest is greeted.
  • #68
  • Edited 10:37am Mar 1, 2009 9:55am | Edited 10:37am
My impression of the thread title was it could be to dissuade members from thinking a small account can sustain a living and perhaps someone of skill wanted to share this reasoning. If it's not, so be it. I hold neither a plus nor a minus to it. I am however extremely surprised by the behavior of some of the posters who I thought had the experience to handle the matter quite differently.
  • #69
  • Mar 1, 2009 9:56am Mar 1, 2009 9:56am
Hello, it is absolutely possible for a small account holder to make a living off forex trading.I did it using a 450USD account. Although this was after i blew a 10000USD account while learning the ropes. I just reduced my lots and was was constantly trading using different systems.now i consider myself an intermediate trader and a full professional.Living and trading in africa possess its own challenges which can be very discouraging at times.The bottom line is never to give up ones goals.Thanks
  • #70
  • Mar 1, 2009 10:00am Mar 1, 2009 10:00am
What is it against forum rules for new members to open a thread for discussion now?

(can) small accounts make a living ?!

Sounds like an interesting thread and one that many FF members will be interested in.

Whats the big deal here?
If the OP turns out to have ulterior motives then that will become evident and forum rules will be enforced. So what ? happens every day.
Let the guy have his speak. It is an interesting topic and with his claimed background the discussion has promise of being a good one.

Maybe some here would rather hang out a sign on the front page of FF

"New members thoughts will not be allowed and said member will immediately be placed under suspicion of subversion."

As an adult I will take the responsibility upon myself to determine whether the thread is of value to me personally.
To do that I believe it is prudent to wait until there is something of substance posted which the OP stated would not take place until this coming week.

Maybe FF's better days are behind it....
  • #71
  • Mar 1, 2009 11:50am Mar 1, 2009 11:50am
Quoting behof
Hi Folks !

Long time I didn't post here on FF because I lost interest
Now you can ask yourself Why ?.....

Forex is not an easy thing until you got the trick ...
That could last for years to come to that point.
(See for example the trading wizards books..)

Here are some points I find useful before jumping in the shark pond :

1. You have to love this business to death !!
2. Don't even think a second about money; its the beginning of the end..
3. Don't underestimate the psychological pressure when trading with a small
account for a living...
I agree. Well said.
  • #72
  • Mar 1, 2009 12:39pm Mar 1, 2009 12:39pm
I am one of those new soon to be forex traders and I this is my goal. As you said everything is relative, my needs are not the needs of someone else. I realize this is easier said than done, but my goal is to (learn how to) consistently make 100 - 200 pips per week. Trade 5 mini lots. At 600 pips/month that will equal my monthly salary. I do not have to reach that goal today thank god, but I have a 6 month plan to get there. Of course that is my point of view and I could be nieve in my thinking, so am looking forward to your posts.
  • #73
  • Mar 1, 2009 1:12pm Mar 1, 2009 1:12pm
Quoting behof
Hi Folks !

Long time I didn't post here on FF because I lost interest
Now you can ask yourself Why ?.....

Forex is not an easy thing until you got the trick ...
That could last for years to come to that point.
(See for example the trading wizards books..)

Here are some points I find useful before jumping in the shark pond :...

This is the minimum amount of money you need for living.
....

Thats all for today

It's possible but it depends on the individual !!
No more to say here

Good luck to all and happy pippin

Bernhard...
Bernhard .

Nice. Make sure you have the minimal or at least have other steady income before pursuing a full-time trading. Don't gamble your life away.

p/s: Sorry Rearden, I just could not stop myself from replying to this post.
  • #74
  • Mar 1, 2009 1:30pm Mar 1, 2009 1:30pm
Hello ppl,

Relax, the game hasn't started yet! You don't have to be serious all the time, or I will tell you how the Joker (Dark Knight) get the marks on his face! "Why so serious, son?" Lol.

To H. Rearden, if u can tell me how I can trade USD1K account with monthly profit of USD1K, I'm all yours! This will be fun!

regards,

Somewhere in KL
  • #75
  • Mar 1, 2009 1:36pm Mar 1, 2009 1:36pm
I did a quick read of this thread and it appears that everyone is assuming that H.Reardon is gonna say - YES - u can make a living w/ a small acct.
What happens if he says- NO - u can't.
Oh well - Time will tell.....
In trading, there is no bullshit. You either make money or you don't.
  • #76
  • Mar 1, 2009 1:46pm Mar 1, 2009 1:46pm
Quoting sipekan
Hello ppl,

Relax, the game hasn't started yet! You don't have to be serious all the time, or I will tell you how the Joker (Dark Knight) get the marks on his face! "Why so serious, son?" Lol.

To H. Rearden, if u can tell me how I can trade USD1K account with monthly profit of USD1K, I'm all yours! This will be fun!

regards,

Somewhere in KL
The first para of your response contradict with your 2nd para .
  • #77
  • Mar 1, 2009 1:47pm Mar 1, 2009 1:47pm
Quoting mrgreen
I did a quick read of this thread and it appears that everyone is assuming that H.Reardon is gonna say - YES - u can make a living w/ a small acct.
What happens if he says- NO - u can't.
Oh well - Time will tell.....
I like the way you think.
  • #78
  • Mar 1, 2009 2:39pm Mar 1, 2009 2:39pm
Quoting mrgreen
I did a quick read of this thread and it appears that everyone is assuming that H.Reardon is gonna say - YES - u can make a living w/ a small acct.
What happens if he says- NO - u can't.
Oh well - Time will tell.....
The answer to the OP question is unequivocally a "YES." This is a fact; you can make a living off a small account. We know this because we know that people have done it before. We know this because doing even one minute of simple math shows that small accounts can make a livable wage.

So whether Reardon says you can or you can't, it doesn't matter because he (apologies if he is not a male) does not have a monopoly on what is possible in trading.

However that does not mean we can't learn from what he might have to say. Perhaps he himself had made a living from a small account and has insight into the difficulties of both life and trading when you are doing so. Perhaps he was unsuccessful in trying to make a living from a small account and traders who intend to accomplish this may learn from where he failed.

Honestly most people in this thread and most traders in general have probably already made up their mind on whether it's possible to trade a small account for a living, we (well, me at least) just want to hear what wisdom and experience he may be able to impart.
  • #79
  • Mar 1, 2009 2:49pm Mar 1, 2009 2:49pm
jimmy you have coyly implied that i "hang around on internet forums and argue with people." i say what i think. period. whether or not it agrees with people is irrelevant.

now let's get something straight. one minute you are critical of my backtesting ideas, the next you are conceding that they have merit. EXPERIENCE does matter. your direct shot at me ("those who hang around racking posts trying to prove they have all the answers") haha show me ONE thread where you have contributed some unique or valuable idea, strategy, or method? i have PLENTY. that is why i have vouches.

people like you come and go all the time. we'll see if you have the wear-with-all to stick around when the going gets tough (IE you start losing money) just keep in mind that i keep a live journal, and the trade calls have been green every single month.

Quoting Jimmy Jones
I'm not sure that's something that can be considered an asset or something to brag about, hanging around on a public forum for a long time arguing with people. I'd be more inclined to look at the content of those who have come and finally left than those who hang around racking up posts trying to prove they have all the answers... and who cares how long the thread lasts, either there will be some value someone will get out of it or there won't.



Funny, I got the exact opposite from the exchange between the thread starter and Rabid. Rabid seems...
  • #80
  • Mar 1, 2009 3:03pm Mar 1, 2009 3:03pm
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quoting Elvis Agbamu
Hello, it is absolutely possible for a small account holder to make a living off forex trading.I did it using a 450USD account. Although this was after i blew a 10000USD account while learning the ropes. I just reduced my lots and was was constantly trading using different systems.now i consider myself an intermediate trader and a full professional.Living and trading in africa possess its own challenges which can be very discouraging at times.The bottom line is never to give up ones goals.Thanks

At least this is someone who said he has done it... So let the thread go on and lets see the direction it takes.
Peace!
I like the Big Dogs because I trade like them
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