FF Traders P/L - November 2009 | Forex Factory

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FF Traders P/L - November 2009

  • Poll

  • Please indicate whether you lost, profited, or BE, and your level of FX experience
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  • #1
  • First Post: Dec 4, 2009 7:57am Dec 4, 2009 7:57am
Was on holiday vacation, so this thread is out a bit later than previous months. Please vote for your trading account for the month of November 2009 (give me a minute to post the poll!).

For those who are new to this thread series: I always thought it was curious whenever the general tone of various forex boards is that “the market is difficult right now”, or “even a monkey could make money is this market”. The purpose of this poll is to, hopefully, capture some of that sentiment from Forex Factory traders. It might be helpful to know how other traders are doing (generally speaking) in the current market.

Each thread represents one month only. This thread, in particular, is only for the month of November, 2009. If many continue to participate, then I will continue to do a new poll for each month.

Obviously this poll is not scientific, and there are factors that may skew the result, so take it with a grain of salt. But I think that if many participate, then it could serve as a good benchmark. Please feel free to add any comments that you think might be helpful to those viewing the polls – ie: “The market might be easy/difficult this month because of the holiday season/because we’re in summer trading/we hit a major fib line/the gods are happy/reasons A, B, C”, or other comments.

Please vote according to your level of experience and whether you lost, profited, or broke even for the month of November 2009. For the purpose of this poll, please count only trades that CLOSED by the end of November. Open trades don't count.

Thanks!
Dahlia
Money missed is better than money lost
  • #2
  • Dec 4, 2009 8:10am Dec 4, 2009 8:10am
voted, Profit 3 -7 years experience

November was a profitable month for me. small hiccup for the start of this month but nothing that can't be reversed!
  • #3
  • Dec 4, 2009 8:14am Dec 4, 2009 8:14am
Had my best month ever.
  • #4
  • Dec 7, 2009 7:47am Dec 7, 2009 7:47am
Quoting Xaron
Had my best month ever.
Congratulations!
Money missed is better than money lost
  • #5
  • Dec 7, 2009 3:30pm Dec 7, 2009 3:30pm
After a few years trading and lossing I've moved on to systems and have broken even and am looking to get into profit now. Trading without a proper system for so long was one of the dumbest things I ever did.
  • #6
  • Dec 7, 2009 3:38pm Dec 7, 2009 3:38pm
Steady rather than spectacular - +16%
  • #7
  • Dec 7, 2009 3:41pm Dec 7, 2009 3:41pm
Quoting PeterFM
Steady rather than spectacular - +16%
Peter from Fxbook ?

Great trades my friend just keep
"Buy on fear, sell on greed !!!
  • #8
  • Dec 7, 2009 4:06pm Dec 7, 2009 4:06pm
Quoting Petar_Serbia
Peter from Fxbook ?

Great trades my friend just keep
I'm just keeping on keeping on. I'll be glad when the New Year starts and I can get back to normal trading .
  • #9
  • Dec 7, 2009 4:32pm Dec 7, 2009 4:32pm
3 years experience, and November marked my 5th consequtive months in profit. Not there yet but will get there. +47% for Novemeber
Orderliness of Randomness
  • #10
  • Dec 8, 2009 7:50am Dec 8, 2009 7:50am
Quoting eloaking
3 years experience, and November marked my 5th consequtive months in profit. Not there yet but will get there. +47% for Novemeber
Nice!

One thing I noticed about the polls so far: No matter what the months were like, it seems that the newbies (1-3 yrs experience) generally lose and the veterans generally win. Nothing earth shattering there. But considering that the often quoted rate of failure in forex is around 95%, it seems that many simply give up before the real work has even begun.

My take-away from this: Don't consider the battle lost until you've been at it for AT LEAST 3 years!
Money missed is better than money lost
  • #11
  • Dec 9, 2009 7:34am Dec 9, 2009 7:34am
Bump!
Money missed is better than money lost
  • #12
  • Dec 9, 2009 5:44pm Dec 9, 2009 5:44pm
Quoting Dahlia
Nice!

One thing I noticed about the polls so far: No matter what the months were like, it seems that the newbies (1-3 yrs experience) generally lose and the veterans generally win. Nothing earth shattering there. But considering that the often quoted rate of failure in forex is around 95%, it seems that many simply give up before the real work has even begun.

My take-away from this: Don't consider the battle lost until you've been at it for AT LEAST 3 years!

that is EXACTLY why so many people fail. its not that they cant trade, or theyre stupid, or whatever. its that they dont stick with it long enough to actually become good at it.
  • #13
  • Dec 9, 2009 10:09pm Dec 9, 2009 10:09pm
Quoting blacksun1
that is EXACTLY why so many people fail. its not that they cant trade, or theyre stupid, or whatever. its that they dont stick with it long enough to actually become good at it.
They also fall for the results of demo trading and the hype of ease, then trade live and join reality which they did not expect.

I voted. I have been trading for close to 5 years now and really only decided this year to do something drastic about it. Its amazing what one can learn when they take there time to really look into something deeply enough to make an emotional decision. This year I have put more effort into trading. I have taken the time needed to really understand myself and how I can trade at a level that is comfortable for me.

The pit fall I believe alot of people fall into is the hype that rediculous amounts of wealth lie out there for anyone who is prepared to take it but they fail to realise the process required to step up to that table.

The other side of the coin is starting capital. If you are looking to really make a long living out of this process then you will understand that being under-capitalised and over leveraged will work against you in the long run. Being under capitalised and correctly leveraged will not make you a million dollars in the short run, but you will learn more about trading and still be here long after the gamblers have left.

To the quote about 47% gains in November, congratulations, however we are now in December and those gains are now new levels of capital, treat it well and you will be here longer. Gains of such levels are great to even out the more sideways or negative months just so long as you understand that they will not always happen.

A good thread to gauge some honest opinions

Razor
  • #14
  • Dec 9, 2009 11:19pm Dec 9, 2009 11:19pm
A solid gain in November for me and December is following suit so far! Getting into a repeatable pattern is a big help.
  • #15
  • Dec 10, 2009 7:39am Dec 10, 2009 7:39am
Bump!
Money missed is better than money lost
  • #16
  • Dec 11, 2009 7:37am Dec 11, 2009 7:37am
It's been a week! Final bump!
Money missed is better than money lost
  • #17
  • Dec 12, 2009 5:22am Dec 12, 2009 5:22am
The finds of this poll should come as no surprise really, most beginners lose, those who stick with it for years eventually become good at it and win.
  • #18
  • Dec 12, 2009 5:35am Dec 12, 2009 5:35am
The smarter you are, the longer it takes. Profitability occurs only after the market breaks you psychologically. Thus, the smarter guys are able to take a beating for a much longer period of time. The not so smart guys typically buckle right away, and do as they're told (or as the market dictates).

This is why army guys usually do well in the markets... they've already been broken psycologically (boot camp). The doctors and engineers... well lets just say that these are the two biggest losing groups within any brokerage firm, trading any given market. Why? Because they can afford to lose a lot of money, and they think they're too smart to be wrong. It's a deadly combination.

Personally, it took me half a decade before I stopped fighting.

In terms of returns this month... what's the difference?
  • #19
  • Dec 12, 2009 6:18am Dec 12, 2009 6:18am
Quoting Razor_trader
The other side of the coin is starting capital. If you are looking to really make a long living out of this process then you will understand that being under-capitalised and over leveraged will work against you in the long run. Being under capitalised and correctly leveraged will not make you a million dollars in the short run, but you will learn more about trading and still be here long after the gamblers have left.
Nice point, Razor...

UNDER capitalisation + OVER leveraging = acc refund (big chance.... been there, done that...)

But the concept of capitalisation may be different each personal trader's approach. Maybe for someone who trades for living, my acc is soooooo under-capitalised .....

but I trade Fx as one more investment tool in my portfolio. I trade stocks, still have my day job as doctor/professor (..no this is definitely not investment.... just teh bills that insist on arriving at my PO box EVERY MONTH...), have some rent income.... and (at least I try) NEVER mix a "small" account with over-leveraging, as you stated well.. I'm here for the long run, step by step...

PS: I didn't vote.... due to college over-working, I 've been on the sidelines for the past 3 months.... hope I can back on in January. My handas are itching!!!!

Cheers!
Many share my views with me. But I don't share them with them...
  • #20
  • Dec 12, 2009 6:38am Dec 12, 2009 6:38am
Quoting mr.marketz
The doctors and engineers... well lets just say that these are the two biggest losing groups within any brokerage firm, trading any given market. Why? Because they can afford to lose a lot of money, and they think they're too smart to be wrong. It's a deadly combination.
.... I hope I can be some kind of exception to the rule...

I guess the point actually is: "they can afford to lose a lot of money, and they think they're too smart to be wrong."... anyone with that in mind is faded to be in the losing whining crowd...

I know a lot of doctors that "think" they are investors... of course, as a profession with a good wage, in average, the prefer to "hire" some of the so called "investors" to make the choices for them... they ask the brokers/bank advisors (those who DON'T live by trading, but by comissions and salary...) and put their money on their hands... they are always "sniffing" for some hot tip that will make them zillionaires.... but when the things go wrong, "that's fine", cause they can blame the advisor/broker (NEVER is their fault...) and with a couple months doing extra shifts to recover......

NOt only doctors, but anyone who refuses to get educated and do the hard work on any field will lose.

It's really a funny thing, cause it seems like doctors tend to "forget" that they had to study AT LEAST 10 years to become a good professional.... how can they think they can skip the learning curve?

Cheers!
Many share my views with me. But I don't share them with them...
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