I'm already in! If 15380 breaks, I will take you up on your offer!
you've been warned.
Cable Update (GBPUSD)
- #212,401
- Apr 1, 2010 11:53am Apr 1, 2010 11:53am
- Joined Mar 2007 | Status: Trader | 3,709 Posts
you've been warned.
- #212,402
- Apr 1, 2010 12:02pm Apr 1, 2010 12:02pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
i'm trading against you with $1 mico lots.
you've been warned.
I'm already locked in with my profit and I think the bulls have a little steam left in their nostrils. I hope your SL can handle it!
- #212,404
- Apr 1, 2010 12:07pm Apr 1, 2010 12:07pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #212,405
- Apr 1, 2010 12:08pm Apr 1, 2010 12:08pm
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
[quote=kuroro001;3603219]So if you got 1000$ you want to make 50$ everymonth ? trading like 12-15h hours a day for 50$ ? better work to macdonalds..
I know it's 5% but it looks nothing....you'll be so old when you'll trade twice your account[/quote
Here's a calculator that is used for compound (annual) growth rates.
Compound Annual Growth Rate:10.01%
So the goal is to grow the account at a rate of 10% per period. Even though it is for calculating (annual) growth and using 85 periods... rather than annual, substitute that for months or weeks or even days as the trading period. By growing as little as a $300 account at a rate of 10% per period... you will increase it to $1M in 85 periods.
Finding a method that produces a consistent gain whether it is 5 pips or 50 pips per trading period (day, week or month) the only variable is the size of position while satisfying the allowable margin requirement to acheive the 10% gain. As the account grows the position is increased proportionately so as to achieve the 10% gain of the ever growing account balance per trading period. The pip gain per period remains the same.
The challenge is maintaining the discipline of acheiving per period a fixed minimum growth rate of 10% of the current acruing account balance as per the selected trading period goal... (annual, monthly, weekly or daily).
Is it possible? Sure it is because the math doesn't lie. Is it plausible? Few would think so. I wouldn't have... yet, I was astounded to learn and see with my own eyes it is being done (and has been done) even here in the walls of this asylum.
Pick your method, your term, then pick your poison.
Dr. D.
I know it's 5% but it looks nothing....you'll be so old when you'll trade twice your account
[/quoteHere's a calculator that is used for compound (annual) growth rates.
Ending Value: $1,000,000.00
Beginning Value: $300.00
Number of Periods: 85
Compound Annual Growth Rate:10.01%
Interpretation:
Over the course of 85 periods your investment grew from $300.00 to $1,000,000.00, its compound (annual) growth rate, or its overall return, is 10.01%.
So the goal is to grow the account at a rate of 10% per period. Even though it is for calculating (annual) growth and using 85 periods... rather than annual, substitute that for months or weeks or even days as the trading period. By growing as little as a $300 account at a rate of 10% per period... you will increase it to $1M in 85 periods.
Finding a method that produces a consistent gain whether it is 5 pips or 50 pips per trading period (day, week or month) the only variable is the size of position while satisfying the allowable margin requirement to acheive the 10% gain. As the account grows the position is increased proportionately so as to achieve the 10% gain of the ever growing account balance per trading period. The pip gain per period remains the same.
The challenge is maintaining the discipline of acheiving per period a fixed minimum growth rate of 10% of the current acruing account balance as per the selected trading period goal... (annual, monthly, weekly or daily).
Is it possible? Sure it is because the math doesn't lie. Is it plausible? Few would think so. I wouldn't have... yet, I was astounded to learn and see with my own eyes it is being done (and has been done) even here in the walls of this asylum.
Pick your method, your term, then pick your poison.
Dr. D.
- #212,410
- Apr 1, 2010 1:36pm Apr 1, 2010 1:36pm
Forexlion , I dont know what is your return rate like, but from what i have seen on this thread for last two months the way you can predict market is amazing to me. I believe the good way to become a successful trader is to try understand/recontruct (eventually tune that to yourself) the way someone successful does it.
Tell us, if you want of course, what percent of your work depends on
- indicators
- your 'feel' of the market
- candlestick formations
- maybe choosing a 'composition' of indicators according to your view on the market?
- PA
- others?
if participation of those factors is variable, that would mean that it is your pure feel of the market and the tools..
I'll ask then what exactly are your tools
how u do it man, tell us
Anyway, you are one of a few people on FF who are inspiration for me that it is possible to make maney consistently on forex (assuming from what i see here) and I'm happy for success of others because they show me that is it possible and wish them more
Tell us, if you want of course, what percent of your work depends on
- indicators
- your 'feel' of the market
- candlestick formations
- maybe choosing a 'composition' of indicators according to your view on the market?
- PA
- others?
if participation of those factors is variable, that would mean that it is your pure feel of the market and the tools..
I'll ask then what exactly are your tools
how u do it man, tell us
Anyway, you are one of a few people on FF who are inspiration for me that it is possible to make maney consistently on forex (assuming from what i see here) and I'm happy for success of others because they show me that is it possible and wish them more
- #212,413
- Apr 1, 2010 2:05pm Apr 1, 2010 2:05pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
Forexlion , I dont know what is your return rate like, but from what i have seen on this thread for last two months the way you can predict market is amazing to me. I believe the good way to become a successful trader is to try understand/recontruct (eventually tune that to yourself) the way someone successful does it.
Tell us, if you want of course, what percent of your work depends on
- indicators
- your 'feel' of the market
- candlestick formations
- maybe choosing a 'composition' of indicators according to your view on the market?
- PA
- others?
if...
)GL with your trading!
- #212,414
- Apr 1, 2010 2:08pm Apr 1, 2010 2:08pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
As a novice myself, I am not really in a position to guide you, so all I can say is what I am doing and why I focus on certain basics first -
Support / Resistance: You need to have a fundamental understanding of this basic requirement first. Without it you will miss on entries, exits, where to set your SL and ultimately profits.
Trends: They say trend is your friend, others might not agree, but the saying has stuck for a reason. Learn the trends on different timescales because each timescale tells you a different story.
Timescales: As a novice,...
how is u day
- #212,415
- Apr 1, 2010 2:13pm Apr 1, 2010 2:13pm
- Joined Oct 2009 | Status: The Voodoo Boodoo Club | 1,419 Posts
You see it too my brother.
nice to see someone shares my view.
Good Luck
Long time no see, partly because I have been so busy. Yep, not saying it will for sure, we still have NFP to get through tomorrow but I am thinking a longer term up. Here is a post from a while ago where I said up as well. There I said 1.84 - 1.92 so it may..
http://www.forexfactory.com/showpost...stcount=205378
- #212,416
- Apr 1, 2010 2:15pm Apr 1, 2010 2:15pm
- Joined Oct 2009 | Status: The Voodoo Boodoo Club | 1,419 Posts
[quote=fourxtrader;3603771]
Remember the deal Dr. D. We all make the 1Mil and we take the vacation to celebrate. Doesn't have to be Las Vegas, could be Maui, Toyko, or Antartica for all I care.
C.
So if you got 1000$ you want to make 50$ everymonth ? trading like 12-15h hours a day for 50$ ? better work to macdonalds..
I know it's 5% but it looks nothing....you'll be so old when you'll trade twice your account
Here's a calculator that is used for compound (annual) growth rates.
[right]Ending Value: $1,000,000.00
[font=Verdana, Arial, Helvetica, sans-serif][size=2]Beginning Value: $300.00...
C.
- #212,419
- Apr 1, 2010 2:35pm Apr 1, 2010 2:35pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
nice and sound advice
how is u day
My day was swell. I have already cashed in some profit and moved my SL into profit on my positions which I opened this morning. I was thinking of opening one last night, but I have been eaten a couple of times by the Asian tiger, so I thought best not to on this occasion. Experience will let me know when the time is right to leave them open or not. Tonight might be a different story!
How was yours? Still going north?
Last day in the office today before the Easter break and I have four days of bliss. There's nada on the telly, the wife is out, the kids are in bed, my slippers are on and Stella in hand. I like my drink too much
Now I have to tackle the oven for my dinner, although it might help if I put something in it first. 
I'm planning to do some XXXX study with a bit of golf thrown in on Friday and Sunday. Easter lunches with the parents on Sunday and Monday. A few tinnies of lager and some glasses of vino will add a little spice, but I won't be overdoing it as there is lots to get done.
I'm on the golf course during the NFP(EC), so I am not too sure whether I will be trading and probably will have closed my positions by then. See how it flows in the morning. I am not teeing off until 3, but I need to practice the short game before my singles knockout competition. Doubles knockout is on Sunday, so I am planning to get there by midday. (I need some serious practice as I still haven't blown the winter cobwebs away yet!)
Smell you later!