YOU need to make the right decisions – constantly

YOU need to make the right decisions – constantly

Why?

Let's have a look at How much time will YOU need to get rich?

I've posted in this thread an example with a trader who has got the ability to grow his account every month by 2% and who has got 1000 Euro.

If this trader is a 30-year old man it will take him 16 years to grow his account to 44795.35 Euro.

- Do you have 1000 Euro or even less?
- Do you have the ability, the records, to grow every month by 2%, constantly?
- Did you notice how much time it will take you to really grow?


Does FOREX hold the ultimate chance? Yes it does. For everybody. It holds the chance to get quick rich. In which other business you have got such an opportunity?

Let's get back to the example of the guy who grows every month by 2%. To grow it is needed to make more profit than losing pips.

One month of him may look like this:
weeks:
#1: +102
#2: +98
#3: -72
#4: +12

his first week may look like this:
days:
#1: +10
#2: +22
#3: +30
#4: -10
#5: +50

his first day may look like this:
trades:
#1: +5
#2: +10
#3: -10
#4: +5

what does a trade look like? Well it consists of 3 parts.
1.) entering the market (long or short)
2.) waiting an amount of time
3.) closing your position


So the trader needs to make these decision, conscious or subconscious:
1.) Should I enter the markets now (yes/no)
2.) How should I enter them (Buy them/Sell them)
3.) Should I close my position now (yes/no)

If you are able to do the right decisions at the bottom, you should be able to go from bottom to top, which should lead in the end to a better performance. But you need to do the right decisions, don't you?
I think you do.

I have written by myself a program to speed this up. A picture:
http://qweet.piranho.com/pics/tape_r..._public_28.jpg

if image doesn't appear:
http://qweet.piranho.com/next_step_simulation.htm

I train myself to perform better decisions. If I see I'm performing rows of right decisions, I know I can go back into the market.
You see that I've performed a row of profit. At least virtual. It is only a matter of time and training and development to grow and to extend this row. But it is possible.

qweet

Personally, I would say that you would be completely wasting your time trading 1000 Euros and only making 2% per month - that is probably around 27% PA. You would only pay yourself 270 Euros for a year's worth of work - I am sure most people could probably save that much money by skipping lunch once a week.

Simon

profit from one to another year:

year0 - year1: 1000 to 1268.24: +268.24
year1 - year2: 1268.24 to 1608.44: +340.20
year2 - year3: 1608.44 to 2039.89: +431.45
year3 - year4: 2039.89 to 2587.07: +547.18
year4 - year5: 2587.07 to 3281.03: +693.96

At least you've got the chance to increase year by year the money you get.
But I agree that it is needed to do this much faster. The monthly return should be higher or one should be able to have a weekly return.
Well this is the cause why I've programmed my program, because you can down the ladder much more, ex:
to a weekly constant return
to a daily constant return
to a tradily constant return
to a decisionily constant return

The more you get down, the faster you get money. But keep in mind you've got to do this constantly. And that's hard.

im enjoying reading ur post qweet, good food for thought. before you posted the compound post i too had done some compound analysis and found similar results

Our decision is every thing which determines the direction of trade toward loss or profit .So you should analyze well about market movement in order to be safe from loss. make it possible to get some profits from your trades.