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3-9% a day with CHOROS?

  • #41
  • Edited 10:06pm Oct 11, 2010 9:56pm | Edited 10:06pm
Quoting kk007
You know brokers are not the only source of leverage. Money can be borrowed from other source to further increase the leverage. If 40 pip per day is guaranteed, leveraging is not a problem.
If for you (probably the only one on the ForexFactory) "leveraging is not a problem" and "brokers are not the only source of leverage" then you are a very lucky guy.
  • #42
  • Oct 11, 2010 10:14pm Oct 11, 2010 10:14pm
Quoting Deusomega
Ask yourself if you see an edge in that system.
I think it is a very good point. And, of course, Kostas succeeded because he found a system that fits him and because of the very smart money management.
  • #43
  • Oct 11, 2010 10:20pm Oct 11, 2010 10:20pm
Quoting Fokusnik
If for you (probably the only one on the ForexFactory) "leveraging is not a problem" and "brokers are not the only source of leverage" then you are a very lucky guy.
Obviously, far less lucky than someone who can gurantee 40 pip a day like you.
  • #44
  • Oct 11, 2010 10:27pm Oct 11, 2010 10:27pm
No, no, don't be shy! You're much luckier than I'm!
  • #45
  • Oct 11, 2010 11:46pm Oct 11, 2010 11:46pm
Quoting Fokusnik
I think it is a very good point. And, of course, Kostas succeeded because he found a system that fits him and because of the very smart money management.
These are 2 big fallacies, as the requirement of a strategy is to offer an edge (and not to "fit" a trader) and money management is a simple thing which can be mastered by my dog.
You didn't answer to the question of Deusomega. Does that system offer an edge? And if yes, which is the relation between your indicators and the orderflow?
  • #46
  • Edited 12:25am Oct 12, 2010 12:09am | Edited 12:25am
Quoting Fokusnik
If for you (probably the only one on the ForexFactory) "leveraging is not a problem" and "brokers are not the only source of leverage" then you are a very lucky guy.
If there is a such guarantee thing I'll mortgage my house (let say it is fully paidoff) and dump all money into a broker with 50:1 leverage.

Let say I get 90% loan from bank (9:1 leverage) and another 50:1 leverage from my broker, then my effective leverage will be 450:1.

This is definitely nothing to do with luck but a simple way to increase your leverage.
  • #47
  • Oct 12, 2010 7:02am Oct 12, 2010 7:02am
Quoting kostas1
Important point: 3-9% was when my account was 400E. Using the Dance I was actually doing more than 3% everyday.

Now my account is well in the 5 digits, so daily profit is very close to 3% (usually from 2.5-3.5%). The reason is money-management as somebody posted above. All I need is 30-40 pips per day and I found one method that can consistently provide these pips.
My trading style is not long-term, I get very anxious when I leave a trade open for more than 2-3hrs, so although I tried, I was never able to get any good results trading long-term....

I traded the dance along with Trotty (Neil !) and Kostas almost from the beginning of when it started. I no longer trade it, but it gave me the basis on how i trade now, which is naked.. meaning no indicators. I average about 50pips a day, on good days i make over a 100 but the numbers are really abitrary. in terms of percentages i grow my account modestly daily of about 0.5 - 2% simply because am not compounding as well as kostas.

It is possible like Kostas says to get 3% daily, it takes discipline!! which is not that easy, but comes with time. In my opinion any good trading method/strategy can give you that return, the key is how the trader uses and applies its rules.

I vote... its possible
  • #48
  • Oct 12, 2010 7:06am Oct 12, 2010 7:06am
Quoting nixie20
I traded the dance along with Trotty (Neil !) and Kostas almost from the beginning of when it started. I no longer trade it, but it gave me the basis on how i trade now, which is naked.. meaning no indicators. I average about 50pips a day, on good days i make over a 100 but the numbers are really abitrary. in terms of percentages i grow my account modestly daily of about 0.5 - 2% simply because am not compounding as well as kostas.

It is possible like Kostas says to get 3% daily, it takes discipline!! which is not that easy, but comes with time....
Thanks nixiw20 for your sharing and vote. I am trading naked too, because I have problem to use particular parameters for indicators and moving averages. I like straight lines much more than curves... lol.
  • #49
  • Oct 12, 2010 7:39am Oct 12, 2010 7:39am
Quoting kk007
Thanks nixiw20 for your sharing and vote. I am trading naked too, because I have problem to use particular parameters for indicators and moving averages. I like straight lines much more than curves... lol.
I had read through everyone's posts here, and I can understand people's skeptism on the possibility, as truely the numbers are scary.

I saw kostas do it, and another fellow trader juneman grow their account daily, and now I am doing it. From where i started and to now be able to grow my account daily am over the moon , its one of those scenarios that unless you are trading with someone live and see them do it, its hard to believe

Any way, this will be my final post , hope you get what you want out of this thread
  • #50
  • Oct 12, 2010 7:40am Oct 12, 2010 7:40am
Quoting Sauron
These are 2 big fallacies, as the requirement of a strategy is to offer an edge (and not to "fit" a trader) and money management is a simple thing which can be mastered by my dog.
You didn't answer to the question of Deusomega. Does that system offer an edge? And if yes, which is the relation between your indicators and the orderflow?
First of all: please pay attention when you read other people's posts! Deusomega didn't ask me about the edge, he asked kk007!

Second, if you think that the trader can successfully run the system that doesn't fit his personality - YOU'RE WRONG! A simple example: have you ever tried to trade M-1 if you usually trade H-1?

Third: although most new traders think that money management is "a simple thing" - IT IS NOT! And if your dog can master it he must be much smarter than his master...

Forth: which indicators? What orderflow? What "my indicators" have to do with this thread? What in the world are you talking about?
  • #51
  • Oct 12, 2010 7:47am Oct 12, 2010 7:47am
Quoting ForexQuant
If there is a such guarantee thing I'll mortgage my house (let say it is fully paidoff) and dump all money into a broker with 50:1 leverage.

Let say I get 90% loan from bank (9:1 leverage) and another 50:1 leverage from my broker, then my effective leverage will be 450:1.
You must be freaking kidding me... The whole point of working with the broker and getting a leverage is: USING OTHER PEOPLE'S MONEY! Traders make money on FOREX thanks to using other people's money!

And if you mortgage your house - it is YOUR bloody money, not other people's money!
  • #52
  • Oct 12, 2010 8:01am Oct 12, 2010 8:01am
I detect a very experienced trader around here, please excuse me.
  • #53
  • Oct 12, 2010 9:23am Oct 12, 2010 9:23am
I'd better not to say anything about what I detected here...
  • #54
  • Oct 19, 2010 10:17am Oct 19, 2010 10:17am
Can someone besides Kostas tell us if he tried the system and saw a steady advantage with it?
  • #55
  • Oct 26, 2010 7:44am Oct 26, 2010 7:44am
I guess 3-9% daily has nothing with method itself but with trader's position size. I think trading this kind of size is pretty risky. I would not risk more than 2% per trade. Even with this kind of risk account can grow pretty well. Also, the more trader risks per trader the choosier he/she should be. A string of 3% losses per trade and account can be damaged.
  • #56
  • Oct 26, 2010 12:27pm Oct 26, 2010 12:27pm
Quoting shiko
I guess 3-9% daily has nothing with method itself but with trader's position size. I think trading this kind of size is pretty risky. I would not risk more than 2% per trade. Even with this kind of risk account can grow pretty well. Also, the more trader risks per trader the choosier he/she should be. A string of 3% losses per trade and account can be damaged.
And a trader's position size can be set by his/her stop loss. Kostas doesn't risk any more than 3% per trade and he stops if he loses 6% in a day which by his post here: http://www.forexfactory.com/showpost...8&postcount=11 is rare.
  • #57
  • Oct 26, 2010 1:23pm Oct 26, 2010 1:23pm
I can tell you now if one is going for 9% a day, one is risking too much.
  • #58
  • Oct 26, 2010 1:32pm Oct 26, 2010 1:32pm
Quoting witsnpips
I can tell you now if one is going for 9% a day, one is risking too much.


That's sure thing. Once losses start accumulating emotions can go wild and there might be more than 9% loss eventually.
There is a good reason why pro traders mention 1-2% risk per trade maximum.
  • #59
  • Oct 26, 2010 1:53pm Oct 26, 2010 1:53pm
Quoting witsnpips
I can tell you now if one is going for 9% a day, one is risking too much.
If you read his post he is not going for 9% a day.
  • #60
  • Oct 26, 2010 2:01pm Oct 26, 2010 2:01pm
HI i read this thread by Kostas, and I think it is possible that you can make 3-9 % per day, maybe even more. I have personally managed to make around 10 - 15 % a day but that was on demo account. I used scalping method on 1-minute and 5 minute charts, with MM lines and RSI(8) oversold/overbought, few EMA's etc. Also I used end of day trading PA on MM lines, and inside bars. While I was on demo It was very good I run my demo account for two and a half month's started with 5000$ managed to make them 34000 $.
So as I was following rules and I assumed that running demo account and making money. I decided to open real account with 1000 $ and now I'm in bad situation I fell like everything fell apart, after month and a half i'm down to 300$ lost confidence in my systems and don't know what to do, but at lest I'm adjusting at the psychological issues and risk with trading real money not demo.

I'm starting to fell bad and don't know what way to trade and which system to trade.

So anyone can help me, point me some thread or system.

Regards,
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