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5% per day is achievable

  • #21
  • Nov 24, 2005 3:02pm Nov 24, 2005 3:02pm
I was just wondering how would you calculate trading a certian % of your account. example how would you calculate trading 1% of a 300 balance account. Thanks in advance for any help
  • #22
  • Nov 24, 2005 5:45pm Nov 24, 2005 5:45pm
Quoting aolsucks
I was just wondering how would you calculate trading a certian % of your account. example how would you calculate trading 1% of a 300 balance account. Thanks in advance for any help
1% of $300 = 1%/100 x $300 = 0.01 x $300 = $3

Simon
  • #23
  • Nov 24, 2005 8:45pm Nov 24, 2005 8:45pm
Quoting ElectricSavant
Franz,

Hogwash...show me the consistent money.
Michael B.

Yep,
I'll take consistent money OR consistent pips any day, week, month, ... Almost every trading book I've read says not to focus on how much money but on how many consistent pips you gain.
Because helping each other is a good thing.
  • #24
  • Nov 24, 2005 9:09pm Nov 24, 2005 9:09pm
Franz,

Hogwash...show me the consistent money. I highlighted the phrase in red from your post that shows its naivity. Franz, some days you just lose, and that cuts into your average. If it were so easy, then why do most traders fail in Forex? Every new trader who thinks he is "logical" has a vision and many of them approach trading in the same, conventional way, you do not want to be this statistic Franz...do you?

Michael B.


To respond to you Michael and others, in sense of 5% per day is achievable and I am learning the Forex, but I have been doing it in S&P 500 futures for over a year. It all has to do about how you approach the market with the capial you are starting. You need to have a good system that runs accurate about 70-80% per day so once you are stoped out, you can recover. I do it every day and in front of over 200 people. Some of the keys are never use more than 50% of your capital to trade. 2nd start with 20% of your fund and keep making money off of it and if you need to stretch your stop a bit then bring out the other 20% to average down, then your target becomes more closer to you if trade goes your way. If the trade doe not go your way, simply stop out and take 2 other trades that will make it back after your failed trade. You do need a good system. Again if you want to see it live, send me a PM and I let you know how.
Franz
  • #25
  • Nov 25, 2005 5:40am Nov 25, 2005 5:40am
Think about some of the best peforming funds in the world. The Soros', the Buffet's, the Victor Niederhoffers (both in his old life and his new life), the Renaissance Capitals etc etc. Unless they are hiding something, even the best of the best bringing home not much more than 35% pa on average. This should tell us something if we intend on staying in the game over the long-term.

My only caveat is here is fund size. Buffet and others have noted that smaller players can better exploit opportunities without running up against constraints, and so may be able to enjoy a better rate of return on their capital. I know there are some out there (Chaffcombe for one) who are currently doing amazingly well.

: )
"Always bet on black"
  • #26
  • Nov 26, 2005 1:13am Nov 26, 2005 1:13am
Quoting ElectricSavant
It's not my style Franz, but thanks for the offer. I would never never use anywhere near 50% of my capital, even with stops...

Michael B.
Indeed!

10 years from now, you and I, and others with the same attitude will still be here trading.
  • #27
  • Nov 27, 2005 9:19am Nov 27, 2005 9:19am
Yes...I want to make 5% per day. Please sign me up for your methodology. I realize that the miniscule costs involved will more than be covered by the huge profit potential of such an amazing system.

I will PM you with an e-mail and contact number.

This will be the greatest, and only, x-mas present my ex has ever recieved from me.

Happy Holidays!!
  • #28
  • Nov 27, 2005 11:07am Nov 27, 2005 11:07am
Quoting diallist
How'd you get to be so smart Merlin? Was it from hanging around guys like me?
LOL! you know it man
Relax and be happy.
  • #29
  • Nov 27, 2005 11:46am Nov 27, 2005 11:46am
Merlin also went to a great school
  • #30
  • Nov 27, 2005 1:54pm Nov 27, 2005 1:54pm
Quoting abobtrader
Think about some of the best peforming funds in the world. The Soros', the Buffet's, the Victor Niederhoffers (both in his old life and his new life), the Renaissance Capitals etc etc. Unless they are hiding something, even the best of the best bringing home not much more than 35% pa on average. This should tell us something if we intend on staying in the game over the long-term.

My only caveat is here is fund size. Buffet and others have noted that smaller players can better exploit opportunities without running up against constraints, and so may be able to enjoy a better rate of return on their capital. I know there are some out there (Chaffcombe for one) who are currently doing amazingly well.

: )
I agree 100%. But you know for sure that this 5%/day thing is nuts when you look at the yearly result of such a goal. 5 days a wekk at 5%/day is 1300% annually. Who is Franz kidding? Is this possible? Sure, with insane levels of risk that happen to work in your favor a few times but i'm pretty sure you will not live to see many more trading days with that kind of risk.
  • #31
  • Nov 28, 2005 12:19am Nov 28, 2005 12:19am
Quoting dvescio
I agree 100%. But you know for sure that this 5%/day thing is nuts when you look at the yearly result of such a goal. 5 days a wekk at 5%/day is 1300% annually. Who is Franz kidding? Is this possible? Sure, with insane levels of risk that happen to work in your favor a few times but i'm pretty sure you will not live to see many more trading days with that kind of risk.


One thing you all miss is that there are people like me around and it is hard to believe that we do get 5% per day. There is always a trick to any kind of skill that make you a master. If majority knows it then the balance of 90% lose money and 10% make money will be shaken. It is all within your mind how to see the success in this industry. 1300% very low end figure in my book but I go along with that. I am going to bring your attention to next issue of Traders World magazine article on yours truly and the journalist also was witness the 5% achievement several random days and how it can be done, but do not forget this is the game of strong minds. It took me 10 years just to understand this last part, and then there was no way back.
  • #32
  • Nov 29, 2005 9:33am Nov 29, 2005 9:33am
Quoting Franz Shoar
One thing you all miss is that there are people like me around and it is hard to believe that we do get 5% per day. There is always a trick to any kind of skill that make you a master. If majority knows it then the balance of 90% lose money and 10% make money will be shaken. It is all within your mind how to see the success in this industry. 1300% very low end figure in my book but I go along with that. I am going to bring your attention to next issue of Traders World magazine article on yours truly and the journalist also was witness the 5% achievement several random days and how it can be done, but do not forget this is the game of strong minds. It took me 10 years just to understand this last part, and then there was no way back.
Well Franz, all the more power to you if you can truly achieve this. I don't believe it and nothing you say short of sharing the precise method will convince many people. I truly believe the only "trick" to mastering this craft is within you and your own ability to stay disciplined and not some cryptic method of achieving these returns. And i assure you the 10% of people who make money are not those who make such ridiculous attempts at these returns believing they can be achieved CONSISTENTLY.

But like i said, all the more power to you if you actually pull this off.
  • #33
  • Nov 30, 2005 12:36pm Nov 30, 2005 12:36pm
I see my profit goals differently, never in %

On emini Russell all I want is 2 points per day or more, 20 ticks. Two points is only $200 on one contract. Oh dear!

At 10 points per week, one contract, that's $1000. Oh dear!

But say you gradually scale up your contract numbers, to say 99 contracts, just taking 10 points from the Russell per week, that's $99,000. OH CHRIST!

Work your leverage up, be less greedy in terms of the points/pips you take and let a sizeable account do the work for you.

It's those early days of building up the account that will make or break you.(though charging in with alot of cash and no experience will quickly bring you to the same starting position as most of us who have to work up from little).

Forget %.
Life Is Not Like A Box Of Chocolates.
  • #34
  • Nov 30, 2005 12:47pm Nov 30, 2005 12:47pm
Quoting Franz Shoar
One thing you all miss is that there are people like me around and it is hard to believe that we do get 5% per day. There is always a trick to any kind of skill that make you a master. If majority knows it then the balance of 90% lose money and 10% make money will be shaken. It is all within your mind how to see the success in this industry. 1300% very low end figure in my book but I go along with that. I am going to bring your attention to next issue of Traders World magazine article on yours truly and the journalist also was witness the 5% achievement several random days and how it can be done, but do not forget this is the game of strong minds. It took me 10 years just to understand this last part, and then there was no way back.
My good man, I do not doubt your honesty but I have never witnessed such a thing. I say if you can produce these kinds of returns, stop posting on this web-site. Set up a hedge fund immediately and watch the money roll in. With these kinds of returns you can charge 40% of profits instead of the usual 20%. If you are consistent, the surplus liquidity in this world will have a new home: your fund. You will become one of the most powerful investors in existence.

Wishing you all the best,

Abobtrader, a trader who would be content with a super-normal 20-30% a year.
"Always bet on black"
  • #35
  • Edited 3:20pm Dec 24, 2005 3:14pm | Edited 3:20pm
Quoting narafa
IMHO, 5% per day is way too much. I have a monthly, quarterly, semi-annual and annual percentage targets. Tell you what, my MONTHLY target is around 5%, and I am wondering how I am going to achieve this target consistently with the least possible risk, that's what I am actually searching for right now.
I watch Franz trade every day in his Alert chat room and he makes 100k/day on 1000-2000 es contracts, 9/10 days.

You can see more at www.alertroom.com (They must be working on the website, because it currently redirects you to the parent site. There should be an interview with Franz when it's finished.)
  • #36
  • Edited 3:23pm Dec 24, 2005 3:16pm | Edited 3:23pm
Quoting abobtrader
My good man, I do not doubt your honesty but I have never witnessed such a thing. I say if you can produce these kinds of returns, stop posting on this web-site. Set up a hedge fund immediately and watch the money roll in. With these kinds of returns you can charge 40% of profits instead of the usual 20%. If you are consistent, the surplus liquidity in this world will have a new home: your fund. You will become one of the most powerful investors in existence.
Franz is already quite big, without working for anyone else. He makes 100k/day 9/10 days every day, live, in front of hundreds of people. If he wanted a hedge fund, he'd have one.

I don't mind you criticizing what you have experienced, but it always bugs me when someone like you criticizes without ever having examined the evidence. Have you ever visited his chat room? It's free, so you have no excuse.
  • #37
  • Dec 24, 2005 8:48pm Dec 24, 2005 8:48pm
Quoting ElectricSavant
If I wrote a book, I would write about how to concentrate on Drawdown first and foremost....
im with ya savant...

drawdown is so important that i use it as the "risk" part of the "risk vs. reward" equation. see this thread about my favorite system statistic, ROMAD....

http://www.forexfactory.com/forexfor...ighlight=romad
Relax and be happy.
  • #38
  • Dec 24, 2005 9:01pm Dec 24, 2005 9:01pm
Quoting ElectricSavant
Merlin,


Hmmm...Romad....I need to put that column on my spreadsheet...but it is only a one...too embarrassing
dude, a "1" is not that bad. i trade systems with a ROMAD of 0.8...
Relax and be happy.
  • #39
  • Dec 25, 2005 12:09pm Dec 25, 2005 12:09pm
Quoting dvescio
Franz ... But like i said, all the more power to you if you actually pull this off.
He's doing quite nicely.
  • #40
  • Edited 12:18pm Dec 25, 2005 12:13pm | Edited 12:18pm
Quoting abobtrader
Set up a hedge fund immediately and watch the money roll in. With these kinds of returns you can charge 40% of profits instead of the usual 20%.
He trades his own account, up to about 14,000 contracts, and takes 100% of the profits.

Quote
If you are consistent, the surplus liquidity in this world will have a new home: your fund. You will become one of the most powerful investors in existence.
He already is. He's the atomic bomb of the trading world -- the ultimate weapon.
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