5000 pips Consistent Trading Statement | Forex Factory

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5000 pips Consistent Trading Statement

  • #1
  • First Post: Feb 16, 2010 9:47pm Feb 16, 2010 9:47pm
I am here to share my trading statement depicting my consistent trading strategy. The reason for sharing this statement is just to encourage traders to stick to there adopted trading style and to apply it effortlessly every time a particular pattern occurs. By doing so, you will definitely learn valuable lessons from the system instead of simply jumping from one trading system to another.

I have been trading for 7 years now and during this period I have mastered a few tricks that have changed my personality and the way I look at the market.

The "First" thing I have learned in trading is that you need to be humble. If not, the market will teach you to be humble. This entails that you need to have a humble position sizing plan that you will be comfort with. The statement provided here is simply a model of good position sizing and you can see that its performance was superb. The pattern produced over 5000 Pips in less than two months of trading. Though this pattern was applied on a live mini account, the same position sizing model is used to trade a live standard account.
Another important thing I learned is that in order to start earning a living from the market you need good capital. Under capitalization can market you to lose focus and become aggressive in your trading. I have seen many traders who have blown their trading accounts because of having unrealistic expectations from there $2000 funded accounts. I am not saying you can not make it but the odds of doing it successfully are slim for many traders.

This is my first contribution to this forum and I hope other traders will be encouraged to stick to their trading systems. Feel free to share my statement and try to duplicate your trading patterns to have similar performance.

Happy Trading,
Pure&Simple

My statement will posted shortly.
  • #2
  • Feb 17, 2010 12:31am Feb 17, 2010 12:31am
waiting
  • #3
  • Feb 17, 2010 1:22am Feb 17, 2010 1:22am
Quoting Pure&Simple
I am here to share my trading statement depicting my consistent trading strategy. The reason for sharing this statement is just to encourage traders to stick to there adopted trading style and to apply it effortlessly every time a particular pattern occurs. By doing so, you will definitely learn valuable lessons from the system instead of simply jumping from one trading system to another.

I have been trading for 7 years now and during this period I have mastered a few tricks that have changed my personality and the way I look at the market.

The...
Looking forward to this

I disagree with the small account thingy you're saying. If you can't make make it with s small account, what makes you think you'll make it with a big account, that's my motto to keeping me sane and grounded
  • #4
  • Feb 17, 2010 1:37am Feb 17, 2010 1:37am
Even a 1000bucks is possible to get you to at least quarter millions, for example targeting 4% weekly of your initial margin is achievable'
What is needed is well manage margin, patience & practice'
Honestly i have been trading less than a year on live account, got wipe out trice(margin calls) all due to greed'
Try accumulating your weekly gains for 192 weeks'
You will be surprise'
Its sometimes better to loose the money then loosing one's life, most of us kept on working with unclear directions and ending up dying a miserable life'
So, now is the time we accumulate our wealth for our future legacy'
trade fun & enjoy the challenges'
Metacux R.
  • #5
  • Feb 17, 2010 1:50am Feb 17, 2010 1:50am
Quoting pa18
Looking forward to this

I disagree with the small account thingy you're saying. If you can't make make it with s small account, what makes you think you'll make it with a big account, that's my motto to keeping me sane and grounded
The author of the thread is focusing on the position sizing. Maybe that relates to the big account.
  • #6
  • Feb 17, 2010 1:57am Feb 17, 2010 1:57am
Good grief. Another drama queen thread. Everybody stop and watch me because in a little while I will post my statement so that all may bow before me. LOL!

Oh and your statement about account size is mis-informed at best. The size of the account has NOTHING to do with the success or failure of a trader. The size of the position taken RELATIVE to the account size does. 1% risk is 1% risk no matter what the account size.
  • #7
  • Feb 17, 2010 2:03am Feb 17, 2010 2:03am
Quoting pa18
Looking forward to this

I disagree with the small account thingy you're saying. If you can't make make it with s small account, what makes you think you'll make it with a big account, that's my motto to keeping me sane and grounded
Traders with poorly funded accounts usually suffer psychologically in their quest to make more profit. It is ok to start with a small account but once you are successful you must boost your account with good capital as long as you can maintain the same discipline you had when trading a smaller account. It is good to trade a small account when you just starting and treat it like a demo account. With a small account you can test your emotional balance which is equally important for a trader to become consistently successful.
  • #8
  • Feb 17, 2010 2:11am Feb 17, 2010 2:11am
Quoting magnumfreak
Good grief. Another drama queen thread. Everybody stop and watch me because in a little while I will post my statement so that all may bow before me. LOL!

Oh and your statement about account size is mis-informed at best. The size of the account has NOTHING to do with the success or failure of a trader. The size of the position taken RELATIVE to the account size does. 1% risk is 1% risk no matter what the account size.
Thats exactly what I was thinking.
  • #9
  • Feb 17, 2010 2:17am Feb 17, 2010 2:17am
LOL give this guy a chance to show us what he's doing.......not many are still trading after 7 years......I've been trading for more than 20 years and the first five were the most difficult....
  • #10
  • Feb 17, 2010 2:26am Feb 17, 2010 2:26am
Quoting pilotui
Thats exactly what I was thinking.
All traders have different experiences. No wonder others are successful and others are not. My experience is not meant to benefit each and every trader. I personally struggled for about 3 years before finding a good footing in trading. Other traders it takes them just a few months to become consistent. The methodology I found for my position sizing works for me and it gives me so much peace of mind that I can go to sleep without worrying about what will happen to my account the following morning. Another fact is that I add to winning positions with similar position sizes and try not to think I own the market. Again there is no right or wrong it depends on your personality and comfort levels.
  • #11
  • Feb 17, 2010 2:58am Feb 17, 2010 2:58am
Once you get your 'trading edge', you need to screw up MM to become a millionaire.

A UK trader name Raj Gill converted 7000 pounds to 7 million pounds in 2 years- You can google up Raj Gill.

Until and unless you dont screw up MM and take big risks, you can not be a millionaire.

But screw up MM only after you have got a 'trading edge'.
  • #12
  • Feb 18, 2010 4:52am Feb 18, 2010 4:52am
Quoting kingfisher
Once you get your 'trading edge', you need to screw up MM to become a millionaire.

A UK trader name Raj Gill converted 7000 pounds to 7 million pounds in 2 years- You can google up Raj Gill.

Until and unless you dont screw up MM and take big risks, you can not be a millionaire.

But screw up MM only after you have got a 'trading edge'.
Sounds like a good idea but I have done that before and it never worked consistently for me. If it fits your personality then it is ok to play around with MM.
  • #13
  • Feb 18, 2010 6:45am Feb 18, 2010 6:45am
I personally agree with a larger account helps... This doesn't mean i believe its compulsory to one's success... I started with a small account and blew it because i was over trading to try making more and more.. overtrading is my weakness that i've come to realise.

I'm also one of those people with not much patience to try making gains so i studied articles and journals of other traders and they DID have the patience to watch their account grow... Also look at it from the perspective that with a bigger account, one's target could be the same as with a smaller account. Instead of talking percentages - if you're goal is to make $200 per week.. Its far easier to achieve with an account of $5000 than it is with an account of $500. I'm sure you guys know all of this already but my point is rather than me having to risk 10 trades to achieve that target, I only need to risk one trade to achieve that target with a bigger account... Hence less stress, waiting for the right opportunity...
  • #14
  • Last Post: Feb 18, 2010 7:37am Feb 18, 2010 7:37am
Quote
Sounds like a good idea but I have done that before and it never worked consistently for me. If it fits your personality then it is ok to play around with MM.

Trading Edge is required to screw up MM. Trading Edge means- Profitably trading for atleast 12 months with a trading system.

Also, i like to take pyramid risk- Earn from market and then use market profits to take bigger risk.

Bottomline is - One needs a trading edge.
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