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4% A Day Forever

  • #1,201
  • Mar 23, 2010 1:37pm Mar 23, 2010 1:37pm
Quoting sam0182
TF,

I'm sure you've entertained the idea of switching to a UK based broker...what are your reasons against this?

I've been with Fxsol since mid 2008 and had no issues switching the the UK based Fxsol late 2009. Same great customer service, ability to quickly withdraw funds, etc...no restrictions.

Cheers from the East side of the state
Howdy!

I have entertained various options. I would not have any issues with a foreign spot account so long as it was a reputable shop. I would really like to go with a Currenex ECN but I hesitate because the good ones require a hefty deposit. If the leverage rules remain unchanged I will linger at Oanda because I have no complaints there.

Of course, I don't mind trading futures. I can make money there. There's just a lot more flexibility in spot and I have gotten used to that.

I have been thinking about what the "next level" is for me in trading and I need to explore setting up an institutional account where I can trade with investor money. The money is there and I know I could sell myself into that but I need a better track record. I need more time behind the wheel. Plus I don't know for sure how much money would be required. Another unknown is whether I would be able to trade the way I like in that environment.

Well, as it is I have time to think about it now - working some long hours on the engineering side leaves not so much time to trade.

Happy Trades!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,202
  • Mar 23, 2010 2:04pm Mar 23, 2010 2:04pm
Quoting The Fool
Howdy!

I have been thinking about what the "next level" is for me in trading and I need to explore setting up an institutional account where I can trade with investor money. The money is there and I know I could sell myself into that but I need a better track record. I need more time behind the wheel. Plus I don't know for sure how much money would be required. Another unknown is whether I would be able to trade the way I like in that environment.
For giggles just called CitiFxPro to chat about their Money Manager institutional accounts. They set these up with a minimum of $10k deposit per investor. The max leverage of 50:1 will not change due to CFTC regs since Citi is regulated as a bank, not a broker. And deposits up to $250k are FDIC insured. They require CTA registration, though. And their spreads are pretty bad - 2.0 for E/U, for instance.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,203
  • Mar 23, 2010 3:33pm Mar 23, 2010 3:33pm
wow, there sure is a lot of red on this list. Why is it so hard to make money trading fx?

http://www.fxmanagers.info/
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,204
  • Mar 23, 2010 4:53pm Mar 23, 2010 4:53pm
Patience imo. How many times per month do you see grade A++ setups, for me its about 2-6 times per month.

Right now I'm working on only taking these setups and keeping drawdown below 5 percent (very achievable).

If I can average 5-10 % per month with with 5 percent drawdown for 6 months I think i may have a shot.

Quoting The Fool
wow, there sure is a lot of red on this list. Why is it so hard to make money trading fx?

http://www.fxmanagers.info/
Annoying Precision
  • #1,205
  • Mar 23, 2010 4:55pm Mar 23, 2010 4:55pm
Heres an example, these happen almost EVERY month, oftentimes more then once.
Attached Image (click to enlarge)
Click to Enlarge Name: pic2.gif Size: 18 KB
Annoying Precision
  • #1,206
  • Edited 7:49pm Mar 23, 2010 7:31pm | Edited 7:49pm
Quoting erikte279
Patience imo. How many times per month do you see grade A++ setups, for me its about 2-6 times per month.

Right now I'm working on only taking these setups and keeping drawdown below 5 percent (very achievable).

If I can average 5-10 % per month with with 5 percent drawdown for 6 months I think i may have a shot.
You got as good a shot as anybody here. In fact, I got my eye on you to hold down my Asheville office. Lotta nice retirement money there I hear. We'll start you out swingin about a $2 mio line. You pull min. 5% per month on that for a while & see how it feels. 75% back to Mom & Pop leaves $25k for the office and you deserve about 10% of that plus your base salary - say, what - about $10k per month? You'll need a nice automobile of course. I've always been a truck driver myself but whatever it is it has to say, "Money!" And some good lookin staff - make sure they can make coffee & don't have no relatives in prison. You keep that crewcut tight & them shoes shined - Mom & Pops love that shit. I'll be in touch.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,207
  • Mar 23, 2010 7:53pm Mar 23, 2010 7:53pm
Well thanks for the encouragement, as I said the most important aspect is keeping mental discipline, when you have a good trading plan the rest takes care of itself.

Appreciate it, I still have to refine myself further before I would even be of Serious consideration for any business adventure.

Erik


Quoting The Fool
You got as good a shot as anybody here. In fact, I got my eye on you to hold down my Asheville office. Lotta nice retirement money there I hear. We'll start you out swingin about a $2 mio line. You pull min. 5% per month on that for a while & see how it feels. 25% back to Mom & Pop leaves $75k for the office and you deserve about 15% of that plus your base salary - say, what - about $10k per month? You'll need a nice automobile of course. I've always been a truck driver myself but whatever it is it has to say, "Money!" And some good lookin staff...
Annoying Precision
  • #1,208
  • Mar 26, 2010 12:03am Mar 26, 2010 12:03am
http://seattle.craigslist.org/see/acc/1650345197.html

Why are these ads for traders - found online all the time - frequently bracketed by obscure latin phrases?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,209
  • Mar 26, 2010 4:21am Mar 26, 2010 4:21am
hi i see that this system 4% daily is sucks and dosent work ????

i hve one that makes 1% daily not 4%,

tell me about this system and show me results ...
  • #1,210
  • Mar 26, 2010 7:20pm Mar 26, 2010 7:20pm
Quoting fadi66
hi i see that this system 4% daily is sucks and dosent work ????

i hve one that makes 1% daily not 4%,

tell me about this system and show me results ...
Yep, sucks hard, could suck the chrome off a trailer hitch. Doesn't work worth a shit. Nothing to see here. Move along.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,211
  • Mar 26, 2010 7:46pm Mar 26, 2010 7:46pm
replying to trolls now? tisk tisk

hopefully you've assisted him in moving on..

Quoting The Fool
Yep, sucks hard, could suck the chrome off a trailer hitch. Doesn't work worth a shit. Nothing to see here. Move along.
Annoying Precision
  • #1,212
  • Mar 26, 2010 8:05pm Mar 26, 2010 8:05pm
About a year since I started here at the Factory. Almost a year of live trading. I am thinking it is time for me to be moving on as well.

To modify the old saying - "Those who can, trade; those who can't, talk about it on the trading forums." That doesn't apply to everybody, of course, but I bet there's more than a grain of truth there.

Anyway, watch your pip stack - I will take em where I find em.

Have a good weekend everybody.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,213
  • Mar 27, 2010 8:25am Mar 27, 2010 8:25am
Sorry to hear that dude, but don't blame you kinda, keep making them pips and stay cool dude!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,214
  • Mar 27, 2010 9:45am Mar 27, 2010 9:45am
Well good luck. You owe me lunch when I hit 100 mio first.....
Annoying Precision
  • #1,215
  • Mar 27, 2010 10:25am Mar 27, 2010 10:25am
Quoting The Fool
About a year since I started here at the Factory. Almost a year of live trading. I am thinking it is time for me to be moving on as well.

To modify the old saying - "Those who can, trade; those who can't, talk about it on the trading forums." That doesn't apply to everybody, of course, but I bet there's more than a grain of truth there.

Anyway, watch your pip stack - I will take em where I find em.

Have a good weekend everybody.

If I show up to trim your mansionn that you earned with Fx trading I will buy you a beer.

Your presence here has been a credit to all.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,216
  • Mar 27, 2010 4:59pm Mar 27, 2010 4:59pm
Quoting The Fool
I am thinking it is time for me to be moving on as well.
Hold the door please...
  • #1,217
  • Mar 27, 2010 9:49pm Mar 27, 2010 9:49pm
Sadly the early debate of can he make 4% per day proved to be that he couldn't






















6% was more realistic
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,218
  • Mar 28, 2010 2:57am Mar 28, 2010 2:57am
Quoting Turveyd
Sadly the early debate of can he make 4% per day proved to be that he couldn't

sadly buddy it ws always gonna end this way i think..
























6% was more realistic

how has your trading been coming along bro!!..hope u smashing pips?
  • #1,219
  • Mar 28, 2010 3:14pm Mar 28, 2010 3:14pm
Quoting AstonDan
Hold the door please...
lol

Thanks to friends and well-wishers. I am not going to drop off the map but I am going to post alot less. I intend to redirect energy that has been pissed away here on FF into taking trading to a next level. Good luck to all of you.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,220
  • Mar 28, 2010 10:50pm Mar 28, 2010 10:50pm
The Fool please stay. In here there are all kind of people just like in society, there are happy people sad people stupid people and smart people and so on .........


Please stay and learn us new people and stay for the old pople in this thread that are posetive and willing to learn and trade your method. Ignore the stupid ones and the bitter ones


best regards
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