Can I make 40% per month consistently | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Is it possible to earn 30% per month consistently for 4 years? 212 replies

How to make money consistently trading forex? 52 replies

-0.25r consistently on any losses on less risked per trade 0 replies

Does anyone here make money consistently from an EA? 3 replies

Earning 150 pips per month consistently - is it possible? 21 replies

Attachments: Can I make 40% per month consistently
Exit Attachments

Can I make 40% per month consistently

  • #21
  • Apr 23, 2007 5:58pm Apr 23, 2007 5:58pm

Quoting kzazs
Just to let you know this successful formula is not mine, i learned it from my mentor. May be if given an opportunity i will narrate my success story

KAZAM
KAZAM,
(Sorry vantage for asking ths question on your thread). Is the successful formula the same as the one used by Vantage?

jj/.

  • #22
  • Apr 23, 2007 8:02pm Apr 23, 2007 8:02pm
NO, its different

KAZAM
  • #23
  • Apr 23, 2007 8:07pm Apr 23, 2007 8:07pm
Quoting kzazs
Just to let you know this successful formula is not mine, i learned it from my mentor. May be if given an opportunity i will narrate my success story

KAZAM
Kazam, would like to hear your success story! feel free to post it in a new thread somewhere here, perhaps in the general discussion section...
  • #24
  • Apr 23, 2007 8:26pm Apr 23, 2007 8:26pm
Vantage, just curious, how goes it on your quest for financial freedom? Bob
Hej.
  • #25
  • Apr 23, 2007 10:58pm Apr 23, 2007 10:58pm
Hi KAZAM

Don't need all the "gorry details" !! ... but a little narrative on what your experiences have been ... what currency pairs/timeframes you currently use ... and any tips on money management etc ... would be highly valuable to us novice traders ...

I came across Forex Factory only in the last month or so ... and have been blown away by the amount of useful info here ... Trading strategies, formulas etc ...

I like your concept of starting Jan 1 etc ... and trying to double by end of year ... Seems like a good basic strategy ...

Thanks for (hopefully) in advance giving us a little bit more info ...

Regards,

GaryW
  • #26
  • Apr 23, 2007 11:11pm Apr 23, 2007 11:11pm
Quoting habeeb
Hi Vantage,
greeting from the fairest Cape. Just wanna wish you luck with your quest.
Is that Accu-charts you're using?

Take Care
Habeeb
Hi Habeeb
No its the IT Finance charts, www.cbfx.com/charts/chartsdemo.htm these are free so I'm sure I can post this? The Daily Fozzy works well with these charts.
Cheers (from a Vaalie)
  • #27
  • Apr 23, 2007 11:13pm Apr 23, 2007 11:13pm
Quoting kzazs
I dont know about 40% per month, but i can only tell you about myself. I start with an ex amount of capital on the 1st of January every year. I double it by the end of year. Cash out my profits on the 31st of Dec. That is my annual income, which comes out be a very good amount in 5 digits. I use it for the whole year. By the time i spend it, i am ready to cash out my next annual profits. I am a full time trader. I don't do any thing else for income. I have been trading for 10 years. But this consistent income i have been able to gnerate for last 3 years. Just to let you know this successful formula is not mine, i learned it from my mentor. May be if given an opportunity i will narrate my success story

KAZAM
I'd love to hear the story from someone that has done it!

I still believe the 40% pm can be done, of course losing trades need to be kept to a minimum then 20 pips per day cannot be an unrealistic goal????
  • #28
  • Apr 23, 2007 11:17pm Apr 23, 2007 11:17pm
Quoting Stitch961
Vantage, just curious, how goes it on your quest for financial freedom? Bob
Hi Bob
All I can say is week 1 went well. I'm confident in my system W's % R and the Daily Fozzy set up on all time frames seems to work well.

Just a quickie if GBPUSD stalls at 1.9980 and Fozzy RSI crosses SMA down on 5 min and W's % R crosses down I think we have a quick sell this am.
  • #29
  • Apr 23, 2007 11:36pm Apr 23, 2007 11:36pm
Quoting Vantage
Hi Bob
All I can say is week 1 went well. I'm confident in my system W's % R and the Daily Fozzy set up on all time frames seems to work well.

Just a quickie if GBPUSD stalls at 1.9980 and Fozzy RSI crosses SMA down on 5 min and W's % R crosses down I think we have a quick sell this am.
If you can consistently get your 40% per month, you will definitely be the first one to do this! As usually 10% is considered barely reachable by the best!
So don't listen to anyone if he will tell you can not do it. I believe it is achievable. But definitely do never loose your confidence.

Good luck
  • #30
  • Apr 24, 2007 12:07am Apr 24, 2007 12:07am
S GBPUSD 1.9973 SL 1.9996 TP 1.9920. On 15 min chart Fozzy RSI crossed down over SMA and W's % R crossed below -50 line. Covered the spread so far.

I'll be moving stop up to breakeven and following down.
  • #31
  • Apr 24, 2007 1:38am Apr 24, 2007 1:38am
Don't like the way GBP is jumping around this morning so I'm out with $40 profit. If we break below 1.9958 the run down should be on but we'll see when I get to work.

Week 2
Goal $1000 Profit $40

Total so far
Goal $2000 Profit $1136
  • #32
  • Apr 24, 2007 7:51am Apr 24, 2007 7:51am
Just got back from hospital with 10 stiches in my forehead. The Dr said I mustn't slam my head into my desk 20 times screaming learn this lesson stupid. Imagine the dull thud at me screaming stupid, ouch! There are other less painful ways to learn a lesson.

For future reference when the 5 and 15 min charts see price action jumping around all over the place take a step back and look at the next higher time frame. In this case the 30 min chart. Whilst price was all over the show like a chicken without a head this morning the W's % R on 30 min was below the -50 line. When it finally did peak above the only decent trade of the day followed.

OK, OK I didn't thump my head into the desk but I wish I could learn this lesson, its not the first time. Its not like I'm really doff or something and this doesn't happen every day but really for this to have happened 2, maybe 3 times is enough.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Apr. 24 14.39.jpg Size: 85 KB
  • #33
  • Apr 24, 2007 7:58am Apr 24, 2007 7:58am
Sorry hopefully this screenshot will come out properly. The vertical line indicates where the entry should have been on 30 min chart.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Apr. 24 14.55.jpg Size: 96 KB
  • #34
  • Apr 24, 2007 11:06am Apr 24, 2007 11:06am
Having a good look at EURJPY a double top at 161.50. On 30 min chart divergence on MACD histogram and if it should continue down we'll have divergence on stoch. On 15 min chart we have divergence on MACD.
  • #35
  • Apr 24, 2007 2:55pm Apr 24, 2007 2:55pm
I like the way you calculate your profit by $ not by pips as many ppl will take partial profits at 1/3 then 2/3 of their positions and let the remaining 1/3 run and take profit at 1000 pips then will say we closed for 1100 pips in pocket
good luck with your trading and keep up the good work
  • #36
  • Apr 25, 2007 2:03am Apr 25, 2007 2:03am
I don't like trading the news I tend to get a bit mangled. If price retests 2.0060 and fails I might be tempted to try and grab a few pips before news comes out. Or should I listen to the funny feeling in my tummy! Of course it could just be that its 9 am in the morning here and I haven't had breakfast.
  • #37
  • Apr 25, 2007 2:06am Apr 25, 2007 2:06am
Hi Vantage, i see you have some licence problem with your screen shot utility....

Please find a freeware tool to do that : http://www.mirekw.com/winfreeware/mwsnap.html

Regards.
  • #38
  • Edited 2:52am Apr 25, 2007 2:33am | Edited 2:52am
Quoting dswk
Hi Vantage, i see you have some licence problem with your screen shot utility....

Please find a freeware tool to do that : http://www.mirekw.com/winfreeware/mwsnap.html

Regards.
Thanks for this I'll have a look.

I'm told on GBPUSD price tends to come back to the central pivot prior to news, this is 2.0013 for today. There wasn't another attempt at 2.0060 so I wasn't in. Price did however come back a little but is supported by a very steep trend line on 30 min chart. This trendline offers supp at around 2.0027, if and its surely a big if this holds do the big boys expect some GBP positive news?

If it doesn't hold it will be interesting for future trades to see if we come back closer to the central pivot.

In any event its worth remembering price went up to 2.0062 and came back down to 2.0025 shortly before news. If you know that price comes back to the pivot this could provide regular trades on UK news days.
  • #39
  • Apr 25, 2007 3:01am Apr 25, 2007 3:01am
OK my undoing in the past, trying to trade the news, certainly on the pound when it came to US news sessions which are often very, very choppy. I'm working on the assumption that the big dogs think news is GBP positive and am considering a straddle entry about 25 pips either side of price set just a minute or two before news comes out.

After all I can resist anything but temptation!!
  • #40
  • Apr 25, 2007 3:41am Apr 25, 2007 3:41am
Looking good David, I will check in regularly

hope to hear from you soon!
0 traders viewing now