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How much do you make a month?

  • #21
  • Jul 13, 2010 7:59am Jul 13, 2010 7:59am
Quoting papaki
perhaps you should open another thread and ask "how much do you lose per month" or "how much did you lose last month". There are going to be more people interested in that thread. But I am not sure if they are willing to share that info either.
Should open another thread and ask, How many trade live accounts?
The answer will probably be 95% non accounts to 5% live accounts.
  • #22
  • Jul 13, 2010 8:13am Jul 13, 2010 8:13am
Quoting Jhig
How is it you sneak in my garage and photo my lute?
Jhig, I didn't know you played the Lute!
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  • #23
  • Jul 13, 2010 8:15am Jul 13, 2010 8:15am
Poll Honesty...? 5%?
Time hides Nothing
  • #24
  • Jul 13, 2010 8:31am Jul 13, 2010 8:31am
Quoting Rob Mondave
Jhig, I didn't know you played the Lute!
LOL Rob call me out in front to the entire FF community, why don't ya. LOL

I meant my loot.

Good one Rob.
  • #25
  • Jul 13, 2010 9:38am Jul 13, 2010 9:38am
Quoting Jhig
LOL Rob call me out in front to the entire FF community, why don't ya. LOL

I meant my loot.

Good one Rob.
Well hey, once upon a time you could make pretty good loot from playing the lute.

Sorry about that...
  • #26
  • Jul 13, 2010 2:43pm Jul 13, 2010 2:43pm
I'm afraid that without knowing how much risk per trade, trade frequency, and number of trades, for each poller....... it's hard to take the poll results seriously.

For example, if I can average 5% monthly risking 0.5% per trade, then I can easily make >50% monthly by risking 5% per trade. But is 50%+ ROE per month sustainable, over several years? I'd be a billionaire in less than 7 years, if that was the case...... LOL.
  • #27
  • Jul 13, 2010 7:29pm Jul 13, 2010 7:29pm
Quoting hanover
I'd be a billionaire in less than 7 years, if that was the case...... .
We can't have that now can we
Time hides Nothing
  • #28
  • Edited 9:06pm Jul 13, 2010 8:40pm | Edited 9:06pm
Hysterical!


Quoting Rob Mondave
Jhig, I didn't know you played the Lute!
Quoting Jhig
Should open another thread and ask, How many trade live accounts? With mini lots and over positioning.
The answer will probably be 95% non accounts to 5% live accounts.
TRUE.

I have demo days where I make around 200 to 750 per day if trading CFDs (oil and gold) on minis.
cutoff account at $300 loss. edit:
then standard demo that is up right now $240,000.... in about a month. (it is a position trade account using 250pip stops and around 500 pip TPs or more.
Is this what you want to hear?

The reason why this is possible is because it is fake money and doesn't matter if i lose. Plus having 2.5 mill in an account isn't bad.

Since I am in the process of building my live account to hopefully trade futures and forex on the same platform, I focus only on the net % gains weekly and monthly instead of a dollar amount daily.

Some days live are 10% some 1% and some negative %. Really depends on what the markets are serving up and what style of trading suits. Scalping, trend / position. Large range (250 pips) swing...

Still learning and trying to be a chameleon.

Going live is the most important step anyone takes because nothing is the same on the demo. Yes, if trading a market maker, many brokers change as well.....
Plus ForeX is NOT the way to get rich quick.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #29
  • Jul 13, 2010 8:46pm Jul 13, 2010 8:46pm
Right because we are here to discuss trade ideas brokers and pass time. No time to brag,

I do wish more people would post losses though. Then perhaps the community could help to examine what went wrong an try to help fix while analyzing.

Could be a good thread. Posting Losses only and the setups with reasoning for critiques.
Quoting CindyXXXX
Its a funny thing actually cause I think the people that would like to brag about how much they make - have nothing to brag about. But the people that have something to brag about don't want you to know what they make, don't feel the need to brag, and don't come here to do so.

Me? I fall somewhere in between - And this post is a fitting dynamic!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #30
  • Jul 13, 2010 9:23pm Jul 13, 2010 9:23pm
Quoting XTrade
Right because we are here to discuss trade ideas brokers and pass time. No time to brag,

I do wish more people would post losses though. Then perhaps the community could help to examine what went wrong an try to help fix while analyzing.

Could be a good thread. Posting Losses only and the setups with reasoning for critiques.
Been there done that! http://www.forexfactory.com/showthread.php?t=244425 Feel free to give it a bump!
Time hides Nothing
  • #31
  • Jul 13, 2010 10:48pm Jul 13, 2010 10:48pm
Dutch Trader - your poll and the comments in your first post are asking for different things - % made on all forex deposits vs % return PER MONTH - was that intentional?

Also you may have more willing contributors if you clearly state the purpose of the thread and what you hope to learn or share from it - if it is just out of curiosity then perhaps you will not get much of a response.

More importantly, this is not a criticism of you but just a general comment - it is easy to understand why people are curious about "how much money do you make," or "what % returns do you get," but in my humble opinion such questions come close to typifying the attitudes and approaches that determine the majority of traders will eventually (or quickly) loose money.

The more valid approach might be to firstly ask "how do you manage risk to ensure that you don't loose money?" If more traders focussed on this in their studies and in the execution of their trades, and less on the "how much can I make" then I suggest we would would have less bodies in the trading wastelands.
  • #32
  • Jul 14, 2010 3:51am Jul 14, 2010 3:51am
Quoting Hedginghog
Dutch Trader - your poll and the comments in your first post are asking for different things - % made on all forex deposits vs % return PER MONTH - was that intentional?

Also you may have more willing contributors if you clearly state the purpose of the thread and what you hope to learn or share from it - if it is just out of curiosity then perhaps you will not get much of a response.

More importantly, this is not a criticism of you but just a general comment - it is easy to understand why people are curious about "how much money do you make,"...
Yes I added the poll after the first page because people were just prating about and not answering my question, and the purpose of my question was just to compare my progress against others.
Really I’m just a bit bored ( because I only get a entry about once every 2 days, which has to be timed down to the 1 to 2 min)and I wanted to ask the question that no one ever seems to ask because it’s thought to be rude to ask, I personally don’t think its rude.
I have risk management build in to my genes, no need to ask questions about that.
  • #33
  • Edited 1:31pm Jul 14, 2010 4:10am | Edited 1:31pm
Quoting XTrade
Then perhaps the community could help to examine what went wrong an try to help fix while analyzing.
I don't think it's necessarily possible to say "what went wrong" with an individual trade. Losses frequently happen not because of any oversight, or error of judgement by the trader, but simply because of the random sequence of wins and losses that ensue from following any strategy. To state the obvious, no retail trader can (1) control the market, or (2) forecast the market with 100% accuracy. Therefore there will always be losses simply as a matter of course.

The converse also applies. Anybody can post several perfect specimen trades, where their strategy generated entry and exit points that coincided with market reversal points. But that doesn't mean that their strategy will be long term profitable. In my experience, it takes several hundred trades, and several winning months, to demonstrate consistency across all market conditions. Anybody can get lucky (or unlucky) for a while, just by guessing.

One problem with reviewing trades is the temptation to berate yourself with the likes of "how stupid - why didn't I see that area of obvious support?" or "why didn't I let profit run further?". I spent over a year going around in circles, driving myself nuts with this kind of self-talk. Slowly, I came to the realization that technical tools (indicators, line studies, etc) are nothing more than a 'road map' to help me interpret the market. A trendline, for example, is nothing more than a line of my own devising; it is not a constraint imposed upon the market. I have no reason to believe that I, an insignificant retail trader, have created a self-fulfilling prophecy. LOL.

It's mathematically possible to turn 10k into a billion in 30 months, by averaging 50% ROE per month. And, as I indicated in my previous post, it's easy enough to upsize 5% ROE to 50% ROE (or any figure you choose) by simply increasing %risk per trade. But one big problem is drawdown. Even the world's best traders occasionally encounter prolonged sequences of losses. That's why many of these folk manage funds, to give themselves a massive capital base, allowing position sizes that are tiny enough to enable them to survive significant equity fluctuations. Here's an interesting post by a trader with 25+ years' experience who says that the only way to make a million dollars is to win $10m from winning trades, while losing $9m from losing trades.

Everybody's strategy is different. For example, a trend trader buys into an uptrend, while a counter-trend trader in the same situation sees price as being overbought on his timeframe, and he sells. Neither is necessarily right or wrong, but if they were to discuss each others' trades, each could easily say that the other was wrong. The more I learn, the more I realize is that the only person who has the credentials to critique my own trades is me. And that, assuming I have a genuine edge, then a "wrong" trade is determined not by its P/L, but upon how flawlessly I executed the trade in accordance with my strategy.
  • #34
  • Jul 14, 2010 5:19am Jul 14, 2010 5:19am
Quoting hanover
I don't think it's necessarily possible to say "what went wrong" with an individual trade. Losses frequently happen not because of any oversight, or error of judgement by the trader, but simply because of the random sequence of wins and losses that ensue from following any strategy. To state the obvious, no retail trader can (1) control the market, or (2) forecast the market with 100% accuracy. Therefore there will always be losses simply as a matter of course.

The converse also applies. Anybody can post several perfect specimen trades, where...
I don’t believe he was referring to help traders with single trades but rather if a trader is loosing constantly over several months and for some reason dose not realize that it’s a lost cause and that he or she needs a complete change of strategy or a slight change in MM like some max losses stop per month.
And in this thread we are not dealing with individual trades or a string of a few trades rather the whole account since inception and I would hope that when people read average monthly percentage gain they will be thinking at least 100 trades as a sample size and at least 2 months to take an average.
It’s not necessarily true that you are the only person who can critique your own trades, if you were trading with a martingale based strategy I could give you advice not to trade with it as its just offsetting losses to blow your account at a later point in time, It would have been good it someone had told me this when I was experimenting with martingale systems long ago but I probably would not have listed any way and continued my experimentation which cost me a few thousand to run.
  • #35
  • Jul 14, 2010 1:25pm Jul 14, 2010 1:25pm
Quoting Dutch_trader
I don’t believe he was referring to help traders with single trades.......
Fair enough. It seemed to me like he was asking for individual trades to be posted, but it's quite possible that I misunderstood.
  • #36
  • Jul 17, 2010 4:06pm Jul 17, 2010 4:06pm
Another one...
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  • #37
  • Jul 18, 2010 11:11am Jul 18, 2010 11:11am
-$2000 initial
-started last week
-currently $1979 because platform doesn't allow hedging
-I have a good system so I should be up in no time
  • #38
  • Jul 26, 2010 7:25am Jul 26, 2010 7:25am
Quoting sqrt(-1)
-$2000 initial
-started last week
-currently $1979 because platform doesn't allow hedging
-I have a good system so I should be up in no time

ah nice to see someone quoting figures .

i would suggest that if the broker imposes restrictions on your trading move to another broker.


how the account doing now ? up or down ?
  • #39
  • Jul 26, 2010 7:11pm Jul 26, 2010 7:11pm
3 micro accounts, -100% loss in all.

95% of traders fail, if the poll don't show these numbers it is because people here lie.

That's because polls are a complete waste of time, you will never know the truth with a poll, specially if it's an Internet poll.
  • #40
  • Jul 27, 2010 4:59am Jul 27, 2010 4:59am
i made about 10-15% a month only.. thats the average i can make. if i were to push for more.. i would end up loosing. recently got stopped out for $30k due to my own greed and ego and no stop loss during may 6th tragedy.


please use stop loss...
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