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5% per day is achievable

  • #101
  • Feb 22, 2006 6:28pm Feb 22, 2006 6:28pm
I'm with you Merlin. I don't beleive it can be done until I see someone post a broker statement that makes at least 265% in 20 days (which is what 5% per day compounded is) with a minimum of 5% per day. Until I see the proof, I don't believe it.

Simon
  • #102
  • Feb 22, 2006 6:34pm Feb 22, 2006 6:34pm
Quoting merlin
ive been waiting for serveral years for some reason no one can ever produce this, so i havent been able to shift my paridigm to believe it can be done.
I'm with you too Merlin! Maybe the way to do it is to shift the paradigm, believe it, and then do it and others can do the same. How does proof that someone else has done it help you to do it? I am convinced that you can do it.

May the forex be with you.
The framework is there; we just have to work on our frame of mind.
  • #103
  • Feb 22, 2006 8:11pm Feb 22, 2006 8:11pm
Quoting niceguy777
How does proof that someone else has done it help you to do it?
ever heard the story of the 4 minute mile? noone thought it was possible to run a mile in less than 4 minutes. it was a long standing barrier. in 1954 a young man finally broke the barrierk, and within a year of him doing it, like 10 other people ran the same time.

while i understand the motivational speaker's "you can do anything" mantra, i find your time is much better spent doing things that are already possible. sure, you wont be remembered as a brilliant pioneer, but ill leave the fame to hollywood, im only interested in the $$$.
Relax and be happy.
  • #104
  • Feb 22, 2006 11:04pm Feb 22, 2006 11:04pm
Hey Merlin,

a favourite song of mine says "I can't stand the thought of losing, I hate the attention winning brings".

and with that in mind, I'll keep to myself.

good trading
  • #105
  • Feb 23, 2006 8:02pm Feb 23, 2006 8:02pm
Quoting merlin
ever heard the story of the 4 minute mile? noone thought it was possible to run a mile in less than 4 minutes. it was a long standing barrier. in 1954 a young man finally broke the barrierk, and within a year of him doing it, like 10 other people ran the same time.

while i understand the motivational speaker's "you can do anything" mantra, i find your time is much better spent doing things that are already possible. sure, you wont be remembered as a brilliant pioneer, but ill leave the fame to hollywood, im only interested in the $$$.
So, what that proves is that it was always possible to break the barrier, but people only believed it when it was publicised as official. Duh...

Surely, what you perceive as being possible, must, by definition, be limited by your perception. Different people apparently have different ideas of what is possible, but we only expand personally and as a race by 'pushing the envelope'. Trust, confidence, worthiness etc., all have to be developed if we want to move forward in trading. If you believe that only a low level of income is possible from trading, that's what you'll gear yourself up for and therefore manifest. You'll certainly prove yourself right! Making the $$$ is nothing to do with fame and being pioneering in the eyes of others, but challenging yourself.

But, Merlin knows all this stuff, doesn't he?
The framework is there; we just have to work on our frame of mind.
  • #106
  • Feb 24, 2006 1:36am Feb 24, 2006 1:36am
Quoting DrRock
I'm with you Merlin. I don't beleive it can be done until I see someone post a broker statement that makes at least 265% in 20 days (which is what 5% per day compounded is) with a minimum of 5% per day. Until I see the proof, I don't believe it.

Simon

Hi. The attached statement was edited, but only to delete the account number and name.
The results could be better, of course.
Attached File(s)
File Type: pdf statement.pdf   57 KB | 697 downloads
  • #107
  • Feb 25, 2006 8:47am Feb 25, 2006 8:47am
Many Years ago, when I was learning to trade and losing every year, I was wondering that if people were really able to make money short term in market. I would have been happy with holding a position for 1 month for merely 10% return. From my days in NY stock exchange, I saw how some traders were making quick bucks off of merely 1/4 point. I knew there was a way and I also knew there are few out there that constantly are profitable. If I could have become only 10% successful to those who were very successful, I would have thought I have approached a goal in my life that would have satisfied me. Coming back from shows, never thought some people call me the Michael Jordan of trading.
One thing I see in this discussion is that there are people that they like to bring some negetive excuses by saying making money in market is hard almost simply impossible. Hard part I can accept, impossible no way. Over bull market of 90's almost everyone became milionaire with little courage and some extra money laying around. The challenge was after when bubble bursted. If you have found the nitch to double or tripple your gain after the bubble, then you may say you have become a pro trader. For making $100k in market in Bull market of 90's may have taken 3-4 weeks using almost $2 mil to do it. Today making $100k a day has only taken $1 mil to do it. During those days that when I was learning to become a winning trader, if I could find someone that was able to make this kind of money consistantly, I would have broken all the doors to get into a room that would have been available to watch and learn from him. A statement is great, but seeing it live and how it gets done is more inspiring and you will learn something that you can not learn in any text book or week end seminars. In trading world the wall that you see between your success may look like concrete, but my friends it is only a tissue thin and confidence is the key, that with it you can move a mountain and without you can not even move a piece of rock. Good Luck to all of you and I sincerely hope you do not give up the dream.

Franz Shoar
  • #108
  • Edited 9:17am Feb 25, 2006 9:10am | Edited 9:17am
Quoting niceguy777
But, Merlin knows all this stuff, doesn't he?
No offense, but I think your question implies that Merlin doesn't know it.
Because if not, you wouldn't be asking it anyway.

But please correct me if I'm wrong. I may be reading you wrong.

Regards,
East
  • #109
  • Feb 25, 2006 9:30am Feb 25, 2006 9:30am
Quoting Franz Shoar
Many Years ago, when I was learning to trade and losing every year, I was wondering that if people were really able to make money short term in market. I would have been happy with holding a position for 1 month for merely 10% return. From my days in NY stock exchange, I saw how some traders were making quick bucks off of merely 1/4 point. I knew there was a way and I also knew there are few out there that constantly are profitable. If I could have become only 10% successful to those who were very successful, I would have thought I have approached a goal in my life that would have satisfied me. Coming back from shows, never thought some people call me the Michael Jordan of trading.
One thing I see in this discussion is that there are people that they like to bring some negetive excuses by saying making money in market is hard almost simply impossible. Hard part I can accept, impossible no way. Over bull market of 90's almost everyone became milionaire with little courage and some extra money laying around. The challenge was after when bubble bursted. If you have found the nitch to double or tripple your gain after the bubble, then you may say you have become a pro trader. For making $100k in market in Bull market of 90's may have taken 3-4 weeks using almost $2 mil to do it. Today making $100k a day has only taken $1 mil to do it. During those days that when I was learning to become a winning trader, if I could find someone that was able to make this kind of money consistantly, I would have broken all the doors to get into a room that would have been available to watch and learn from him. A statement is great, but seeing it live and how it gets done is more inspiring and you will learn something that you can not learn in any text book or week end seminars. In trading world the wall that you see between your success may look like concrete, but my friends it is only a tissue thin and confidence is the key, that with it you can move a mountain and without you can not even move a piece of rock. Good Luck to all of you and I sincerely hope you do not give up the dream.

Franz Shoar

Excellent post, Franz. Thanks!
  • #110
  • Feb 25, 2006 10:24am Feb 25, 2006 10:24am
Quoting eastmaels
No offense, but I think your question implies that Merlin doesn't know it.
Because if not, you wouldn't be asking it anyway.

But please correct me if I'm wrong. I may be reading you wrong.

Regards,
East
I was alluding to the original Merlin.
The framework is there; we just have to work on our frame of mind.
  • #111
  • Feb 25, 2006 10:30am Feb 25, 2006 10:30am
Quoting Franz Shoar
One thing I see in this discussion is that there are people that they like to bring some negetive excuses by saying making money in market is hard almost simply impossible. Hard part I can accept, impossible no way. ......

In trading world the wall that you see between your success may look like concrete, but my friends it is only a tissue thin and confidence is the key, that with it you can move a mountain and without you can not even move a piece of rock. Good Luck to all of you and I sincerely hope you do not give up the dream.

Franz Shoar
Well said Franz.

You can learn as many clever techniques as you like, and many will serve you, but only if your mindest is working with you - and not against you.

But - you you have to do the work on yourself. Someone else can't do it for you.
The framework is there; we just have to work on our frame of mind.
  • #112
  • Feb 25, 2006 8:29pm Feb 25, 2006 8:29pm
Quoting niceguy777
I was alluding to the original Merlin.
Ok. I rest my case..
  • #113
  • Feb 27, 2006 1:50am Feb 27, 2006 1:50am
Quoting cristian
Hi. The attached statement was edited, but only to delete the account number and name.
The results could be better, of course.
Now keep this up for a few months
  • #114
  • Dec 5, 2006 2:21am Dec 5, 2006 2:21am
Anybody achieving 5% per day?
CCI decipherer
  • #115
  • Dec 5, 2006 2:48am Dec 5, 2006 2:48am
Quoting sogt725
Anybody achieving 5% per day?
Just achieve "mere" 1% per day and you are the richest man on earth in a few years.

What a worthless bullshit thread ...
  • #116
  • Dec 5, 2006 3:03am Dec 5, 2006 3:03am
Quoting Blackeagle
Some people in forum give target income or realised profit in trades in percentage terms. That's realistic and totally objective to compare results or performances if your account size is big enough. But there are many newbies investing or trading with USD500 or USD1000. When someone says 5% per day or per month, it is misleading without knowing his/her account size, risk appetite, margin etc. It is not the same thing to earn 5% with a 1K account and 1000K account under different circumstances. It is meaningless to earn $100 on $500 account without knowing some specific info. Why do big hedge funds or managed accounts spend lots of cash for advertising when they reach double digit performances in a given year? When you talk in percentage terms, please inform people on what basis (account size, risk etc.) you are talking about before misleading public.
Yeah... some time ago when I had a small account I actually tripled it in two days. tripled - means over 200% gain in two days.

it is possible on consistent basis (i mean it is possible to add 3-5% on average every day) if you ride the long trend with compounding - risk is small and gains are as above.
Quidquid latine dictum sit altum viditur
  • #117
  • Dec 5, 2006 3:51am Dec 5, 2006 3:51am
There's a quote from a trader somewhere on FF that probably sum's its all up nicely. Not sure what his name is so I apologies<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

"There is no room for fantasizing in trading. Counting up and mentally spending profits you haven't made yet is mental masturbation.....""<o></o>
  • #118
  • Dec 5, 2006 4:15am Dec 5, 2006 4:15am
hi all,

i read a book on 4X not too long ago that it takes only 3.5% a day increase of fund and then compound it everytime and end up with nearly double your acct at the end of the month (basing on 20 days trading days per month)

If your fund started with $1,000. It takes you just $35 to gain 3.5% for day 1. For the 2nd day its $1,035 x 3.5% but you would put the same effort to get 3.5% out of that and so on. With leverage your effort (and your success) is the same .. but your result is different as your input is compounded each time.

On the other hand if you fail the following day or days, then trade more to keep up the pace to achieve your accumulative results. And yes you may fail but .. thats what we call trading.
An achievable for this acct is to trade $1 = 1 pip. Your target is a sucesful 35pips per day (if you trade on EURUSD,GBPUSD,AUDUSD etc)

p/s you'll be a millionaire by the 7th month.

If you fail .so what at least you know where you are going to and where you stop getting there.

THE ONLY MISTAKE FOR A TRADER IS NOT TO TRADE WITHOUT A DREAM. SO DONT THINK 5% A DAY IS IMPOSSIBLE.
If you saw Casino Raoyale, Mr Bond's fund stake is 100%. You loose that and you are out .. but if you won. you have gone way beyond your own standard. But thats gambling .. so dont confuse with Trading
When the wave comes - jump !!
  • #119
  • Dec 5, 2006 12:32pm Dec 5, 2006 12:32pm
I think 5% per day maybe achievable now and again but not consistently.

Personally I don't set myself a target. I just trade what I see and take what I am given.

Setting a daily goal (for me at least) would probably force me to take trades just for the sake of it.
  • #120
  • Dec 5, 2006 12:48pm Dec 5, 2006 12:48pm
Quoting willf
I think 5% per day maybe achievable now and again but not consistently.

Personally I don't set myself a target. I just trade what I see and take what I am given.

Setting a daily goal (for me at least) would probably force me to take trades just for the sake of it.
That's a good point. Sometimes it can be more, sometimes less - and a live account always seems to give different results to a demo because mindset issues only surface when it's live.

Setting fixed goals, I agree, can be dangerous.

Go carefully!
The framework is there; we just have to work on our frame of mind.
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