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How big an account one needs to win in forex everyday?

  • #21
  • Apr 12, 2009 11:45am Apr 12, 2009 11:45am
forex is not betting, so u don "win" u just earn depending on the time and effort you put in. Just like any other job. 20 grands is okay for a lot.
  • #22
  • Apr 12, 2009 12:02pm Apr 12, 2009 12:02pm
One thing is for sure, if you are a successfull trader and you aim for 10% per year then you are in the wrong bussiness!
You are NOT successfull if you do 10% in a year. Your local bank can do that for you.
I am really not trying to be funny here.....
Real successfull traders do FAR better than that. I am here to make money and i can assure you 10% per year is NOT MAKING MONEY.
10% per year doesn't make you a pro ,......Just my two cents! ( Maybe in your books , but not in mine)
Never Ever Give Up!
  • #23
  • Apr 12, 2009 12:07pm Apr 12, 2009 12:07pm
can you comprehend the amount of money in question here ?

but while the figure, given all the worlds currencies and holdings is staggering, what has that to do with "zero sum"

can we PLEASE stick to the question and not fly off in different directions as only a teenager can do ?

THANK YOU !

mp



Quoting Leonlorenzo
Lol, here we go again....

They cant make more money than there is available, No amount of want or need can change that.
  • #24
  • Apr 12, 2009 12:07pm Apr 12, 2009 12:07pm
Quoting Cobra
10% in a year. Your local bank can do that for you.
If you are living in a civilized industrial country I highly doubt that you will find a back that gives you 10% "risk free" interest p.a. Espically when every Central Bank is lowering interest rates.

If you don't consider 10% p.a as being successful that either means
1. you are piss poor and need 10000% to make a dime or 2. a n00bie who thinks forex is a get rich quick scheme.
  • #25
  • Apr 12, 2009 12:12pm Apr 12, 2009 12:12pm
10% on 10k is 1k>>>>>not good
10% on 100k is 10k>>>>better, but still cannot live handsomely
10% on 1000k is 100k>>>>>yes I can live handsomely now, but I want more
10% on 1 billion is 100mill>>>>>WOW

*on per annum
  • #26
  • Apr 12, 2009 12:12pm Apr 12, 2009 12:12pm
YUP -- 10% is probably "losing money" in the real world, but thats what the folks who brought you this years recession steadily pay the "dumb money" investors, while the institutions go on to make fortunes.

perhaps the true definition of "trickle down theory" as the institutions have huge swimming pools and the investors get a cup of water apiece !

and for those who think their english is not sufficient to join in, its sure better than I can speak in any other language, with the possible exception of pig latin !

enjoy and trade well

mp
  • #27
  • Apr 12, 2009 12:16pm Apr 12, 2009 12:16pm
Quoting Leonlorenzo
Lol, here we go again....

They cant make more money than there is available, No amount of want or need can change that.
  • #28
  • Apr 12, 2009 12:19pm Apr 12, 2009 12:19pm
Quoting Cobra
One thing is for sure, if you are a successfull trader and you aim for 10% per year then you are in the wrong bussiness!
Exactly what 90% of the other "traders" on Forex Factory would say.

Do you see the correlation?
  • #29
  • Apr 12, 2009 12:27pm Apr 12, 2009 12:27pm
at this point in time, banks aint giving much of anything and havent for years, which is what drives everyone into the stock market, which is perhaps the GREATEST money producer in the known universe.

Given this tremendous wealth created (hell, the mail room guy prob makes a $20K bonus just for delivering the mail correctly) the amount of money floating around is beyond human ability to comprehend !

but the real direction of recent posts concerned that sacred cow called "zero sum", the darling of the white collar warrior, who has never battled anything stronger than his wife and children !

ITS A FRAUD simply because you can NEVER truly know why someone sold or bought --- my style of trading, well documented, copied and desired is to sell on an uptrend, catch the reversal from the resistance level and buy again off support ---- when i sell to you, have you WON ???

HELL NO --- i just took my 20 pip profit, will take a bunch more on the short and then re-enter a long going up to the next tp point ---- WHO WINS OR LOSES ON THOSE TRADES ?

Its beyond reason to think you can identify why a trade took place, and to then state that YOU won and someone else lost !

ITS SIMPLY THE HEIGHT OF EGO AND AUDACITY to even BEGIN to think that way.

FOREX IS A GAME --- its NOT a battle for life and death, played out in some gladiatorial arena --- there are NO AK-47's or "special ops", only experience, patience and the ability to stick through a lot of boring times.

THOSE who see it as a BATTLE should be kept away from ALL weapons, including sharp sticks, cause theyre a bit flakey at best !

over on my threads, we teach how to accumulate massive amounts of pips, depending of course on inherrent abilities, but NOWHERE do we state for you to "gird your loins with armor and weapons" but SIMPLY how to observe how the market behaves, where its heading, when it reverses and dozens of other tricks and tips as to how the market REALLY works and not as how some teenage kid sees it as simply another video game !

oh well

enjoy and trade well, but leave the armor in the closet

mp



Quoting Tjpld
If you are living in a civilized industrial country I highly doubt that you will find a back that gives you 10% "risk free" interest p.a. Espically when every Central Bank is lowering interest rates.

If you don't consider 10% p.a as being successful that either means
1. you are piss poor and need 10000% to make a dime or 2. a n00bie who thinks forex is a get rich quick scheme.
  • #30
  • Apr 12, 2009 12:28pm Apr 12, 2009 12:28pm
Quoting Tjpld
If you are living in a civilized industrial country I highly doubt that you will find a back that gives you 10% "risk free" interest p.a. Espically when every Central Bank is lowering interest rates.

If you don't consider 10% p.a as being successful that either means
1. you are piss poor and need 10000% to make a dime or 2. a n00bie who thinks forex is a get rich quick scheme.

  1. In my country thereare several unit trust funds managed by local banks which does more than 10% per year. In fact some of these funds have done it for years now. And who said anything about "risk free".
  2. Yes i do not consider 10% per year as successfull. If you cannot beat that, then you DO NOT have a system.
  3. Forex is not a " get rich quick scheme". But if you CAN trade and you make only 10% per year then i would say you are a Piss trader!

Never Ever Give Up!
  • #31
  • Apr 12, 2009 12:30pm Apr 12, 2009 12:30pm
CERTAINLY cant disagree with you cobra !

mp

Quoting Cobra

  1. In my country their are several unit trust funds managed by local banks which does more than 10% per year. In fact some of these funds have done it for years now. And who said anything about "risk free".
  2. Yes i do not consider 10% per year as successfull. If you cannot beat that, then you DO NOT have a system.
  3. Forex is not a " get rich quick scheme". But if you CAN trade and you make only 10% per year then i would say you are a Piss trader!

  • #32
  • Apr 12, 2009 12:36pm Apr 12, 2009 12:36pm
Quoting Cobra
One thing is for sure, if you are a successfull trader and you aim for 10% per year then you are in the wrong bussiness!
You are NOT successfull if you do 10% in a year. Your local bank can do that for you.
I am really not trying to be funny here.....
Real successfull traders do FAR better than that. I am here to make money and i can assure you 10% per year is NOT MAKING MONEY.
10% per year doesn't make you a pro ,......Just my two cents! ( Maybe in your books , but not in mine)
It all depends on the size you trade and the given markets liquidity.

Its like anything in life, the bigger It is, the harder it is to get in. In trading context larger size may meen increasing timeframe and making several entries where'ever the liquidity is available. This way you will make more money (because you have more money), but make less in % because of fewer opportunities being present.

A good example Is a scalper trading for afew pips/ticks, he may make 200 trades in a day at 10 lots but once he has done this well for 10 years will he be able to trade 200 lots in the same manor? No.

He will have to change his trading aproach because he will likely not get all of his possition filled at one price which (logic says) means he will gravitate to a longer holding time of possitions and fewer trades....... He makes more money than he has ever done before, but less %.

I hope I made this post comprehendable, sometimes It looks clear to me but I ramble and make little sence.
Living the adventure in my head.
  • #33
  • Apr 12, 2009 12:45pm Apr 12, 2009 12:45pm
Quoting mparker
and for those who think their english is not sufficient to join in, its sure better than I can speak in any other language, with the possible exception of pig latin!
Ooyay eekspay igpay atinlay!?! Oolcay!
  • #34
  • Apr 12, 2009 12:49pm Apr 12, 2009 12:49pm
i thought we were talking about "zero sum" and not liquidity --- lets stick to the subject as RARELY will liquidity become an issue for most of us !

mp



Quoting Leonlorenzo
It all depends on the size you trade and the given markets liquidity.

Its like anything in life, the bigger It is, the harder it is to get in. In trading context larger size may meen increasing timeframe and making several entries where'ever the liquidity is available. This way you will make more money (because you have more money), but make less in % because of fewer opportunities being present.

A good example Is a scalper trading for afew pips/ticks, he may make 200 trades in a day at 10 lots but once he has done this well for 10 years will...
  • #35
  • Apr 12, 2009 12:51pm Apr 12, 2009 12:51pm
opie --- remember that neat little kid on the andy griffith show (its on cable re-runs) he went on to become a very notable director, and you SO remind me of him --- even to the same names !

thnx for the laugh !



Quoting opie999
Ooyay eekspay igpay atinlay!?! Oolcay!
  • #36
  • Apr 12, 2009 12:55pm Apr 12, 2009 12:55pm
Lets try to respect each others views here. I have been trading for 8 years now and i have seen many posts in here about how traders see the forex market and how they trade them.
I do respect new traders breaking through and showing 10% per year. good for you! All i am saying is that if you only aim for 10% and think by doing so you are amongst the big guys and that you are a pro now, you are wrong. And let us not compare large hedge funds with ordinary traders here. Large hedge funds risk less and if they produce 10% per year let them think it is ok. From an investor point of view 10% is not good at all.
Traders on the other hand are investors / speculators who are trading for a living and want to see their investment grow as well as taking money out of the account to live with. I am talking about traders with accounts of $15 000 and upwards and who do not have any other source of income. If such traders think that 10% is good enough , think twice. There is absolutely no reason why any seasoned trader who calls him/herself a trader can exceed 10% per month. In fact there are many who does that each month! Now that is what i call trading! If a trader is happy with 10% per year then he should seriously consider doing something else with his time. I stick to my point. 10% per year is NOT WORTH being here!
Never Ever Give Up!
  • #37
  • Apr 12, 2009 12:59pm Apr 12, 2009 12:59pm
Quoting mparker
i thought we were talking about "zero sum" and not liquidity --- lets stick to the subject as RARELY will liquidity become an issue for most of us !

mp
Why wont it? Many people on your thead are making atleast 350pips a day, and there only rookies/newbs. At 84k+ pips per anum per head I think you may just be the guy who starts the biggest liquidity crisis ever.

I was responding to Cobra where he mentioned % Return, and was just stating that larger size likely goes hand-in-hand with lower % return.
Living the adventure in my head.
  • #38
  • Apr 12, 2009 1:03pm Apr 12, 2009 1:03pm
Quoting Cobra
I have been trading for 8 years now ......... 10% per year is NOT WORTH being here!
One number is not right here. I'm betting it is the number 8.
  • #39
  • Edited 1:47pm Apr 12, 2009 1:04pm | Edited 1:47pm
apologize Cobra ...

by saying that your bank fund manager can save in madoff banks and get risk free 10% ROI ... I am referring to someone really did it. (accept fund and deposit in madoff bank to get 10% risk free return for clients)
I am not indicating that he himself is playing accounting tricks... and I wouldn't guess.

for your goal I partially agree that part-time trader can aim for 5-10% ROI in a bear stocks market year,,, depend on luck, he could achieve higher or lower but on average 8% is good luck.
-- if he puts in full time and full effort and for his own money and family/life stake, and take a little risk, he could have achived higher; but it's different case if managing others.

in a bull market why part-time investor need to trade forex hours a day at all since average expectation from stock market is 10% ROI.

Quoting Cobra
Lets try to respect each others views here. I have been trading for 8 years now and i have seen many posts in here about how traders see the forex market and how they trade them.
I do respect new traders breaking through and showing 10% per year. good for you! All i am saying is that if you only aim for 10% and think by doing so you are amongst the big guys and that you are a pro now, you are wrong. And let us not compare large hedge funds with ordinary traders here. Large hedge funds risk less and if they produce 10% per year let them think it...
  • #40
  • Apr 12, 2009 1:10pm Apr 12, 2009 1:10pm
SunTrader

I have seen many of your type hanging around in these forums my friend. The more posts the more you and your followers think of you......
It is a pity that traders in these forums think that the more posts the more successfull you are..... dead wrong.
I do not post much because i do not have to proof a damn thing by doing so!
I bet my house, my car, my trading acc that you are a wannabee trader....!
Never Ever Give Up!
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