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which way it`s easier to make 500p a moth!!!

  • #21
  • Feb 28, 2006 11:56pm Feb 28, 2006 11:56pm
If someone can make about 100 pips every week, life will be, oooohhhh, sooooo fine.
  • #22
  • Mar 1, 2006 12:39am Mar 1, 2006 12:39am
Quoting Munch_Munch
If someone can make about 100 pips every week, life will be, oooohhhh, sooooo fine.
How come it is that positive pips with bad money management loses money, but we can't have negative pips with good money management to make money. Doesn't seem quite fair, does it? :
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  • #23
  • Mar 1, 2006 12:41am Mar 1, 2006 12:41am
Quoting eastmaels
Ohhhhh.... So now that explains why you're always on mud pack to cover those burns...

Sweet revenge...
Sweet revenge? You done it now bruddah! Now I have no choice but to post the image you're "revenging" me about. <evil grin>
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  • #24
  • Mar 1, 2006 7:29am Mar 1, 2006 7:29am
Quoting diallist
How come it is that positive pips with bad money management loses money, but we can't have negative pips with good money management to make money. Doesn't seem quite fair, does it? :
Maybe one can change that by placing a big mirror aimed at the Moon, so as to guide the money to flow in the right direction.
  • #25
  • Mar 1, 2006 9:51am Mar 1, 2006 9:51am
Quoting diallist
How come it is that positive pips with bad money management loses money, but we can't have negative pips with good money management to make money.
uh???

"the first part of the party of the first part shall be known in this contract as the first part of the party of the first part, shall be known in this contract..." - Groucho Marx

  • #26
  • Edited 1:19pm Mar 1, 2006 11:51am | Edited 1:19pm
Ceteris paribus, starting with the lowest possible account size, in order to reach maximum capacity at the fastest rate, it will take about 1 year from implementing the compounding process, no less than 3 months, probably around 6 months to reach maximum efficiency and effectiveness.

If you use one forex company you run the risk that that forex company might close shop. So it is necessary to withdraw some profits and put that amount with another forex company. Spread them out among a few good forex companies. However, doing that slows down the compounding process. But if you don't do that and that forex company does close shop, you lose everything, your initial capital and all your hardwork. If that forex company is not hedging its positions when it should be, it is very likely to close shop once it knows that you are going to break the bank.

Actually if the forex company is smart it can study your strategy and if it understands the strategy it can use it on other forex companies.
  • #27
  • Mar 1, 2006 1:39pm Mar 1, 2006 1:39pm
Quoting Munch_Munch
Ceteris paribus, starting with the lowest possible account size, in order to reach maximum capacity at the fastest rate, it will take about 1 year from implementing the compounding process, no less than 3 months, probably around 6 months to reach maximum efficiency and effectiveness.

If you use one forex company you run the risk that that forex company might close shop. So it is necessary to withdraw some profits and put that amount with another forex company. Spread them out among a few good forex companies. However, doing that slows down the compounding process. But if you don't do that and that forex company does close shop, you lose everything, your initial capital and all your hardwork. If that forex company is not hedging its positions when it should be, it is very likely to close shop once it knows that you are going to break the bank.

Actually if the forex company is smart it can study your strategy and if it understands the strategy it can use it on other forex companies.
MM, no offence inteded, but what you say is not correct. You appear to be under the assumption that ALL of your trading capital has to be in the hands of the broker. This is simply not true. The majority of your trading capital can be kept securely in an insured account while only putting enough in your brokerage account to cover margin requirements. Your trade size will be based on the combined value of your insured account plus whatever you have in your brokerage account(s). Therefore compounding is not affected at all.
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  • #28
  • Mar 1, 2006 2:47pm Mar 1, 2006 2:47pm
Where's Refco?
  • #29
  • Mar 1, 2006 4:44pm Mar 1, 2006 4:44pm
Jeff,


this IS a place where you can talk with some smart guys. I've been wandering a lot before finding this forum. Some time has passed, I begun to think about the details, and this led me to begin to grasp the importance of discipline. I've been increasing my risk levels from a (SAFE) 0.3% per trade to a more interesting 2%, evaluating every 20 trades and increasing risk only if my account was showing a profit. I recieved this little piece of wisdom from diallist (who probably doesn't even know) and maybe I'll never find a way to give thanks enough for it.
Why ? Because now when I trade I feel confident, I'm working on myself and pursueing realistic expectations gives me a defined picture of my progresses.


Now every time I trade I try to remember the times when I did skydive. There you can lose your life, you want the best gear and you want it to be perfectly set up, I'm quite convinced that trading and loosing more than you can afford (been there) hurts more though; don't you want the best gear and perfectly set up ?

My humble advice is to read carefully what people are trying to tell you and
to find an harmony with yourself and the market. She has her rythm, are you sure you want to force her to dance at yours ?


Dick Sutphen says: "Self-discipline is not about self-denial or self-restrictions. In the context of success it means self-determination. It is perseverance in action. Self-discipline is the very basis of success because it is how you direct your time, energy and resources to manifest your desires. Self-discipline is the one factor common to all self-made, successful people.
In a nutshell, self-discipline simply means that you do what you need to do, and you stop doing what doesn’t work."



I'm convinced that people here are just trying to direct your efforts towards what works.


Happy trading.

QG
  • #30
  • Mar 1, 2006 6:14pm Mar 1, 2006 6:14pm
Quoting jeff7495
hello i have been doing some money managemet homework and i have come to a point that if i make 500 a month, i ll quick my job today.
now the question is how??
25p a day 5-10min chart?
120 a week using 1-4 hour chart?
or 500p a month using 4-daily chart?

ok there i go, but the other thing is if i risk 35p per trade thats perfect if am
aiming to 120p but risking 35p for 25p?? i i think i need a lile help here
Hi Jeff,
If you are absolutely sure you've got it,
I have a surefire 100% guaranteed method of raising your 500 P/month to 750 P/Month
When you can show me proof of steady {min 1 year not backtested} 500 P/month, I will give you POA over one of my accounts and pay you 50% of that accounts profit.
  • #31
  • Mar 1, 2006 7:14pm Mar 1, 2006 7:14pm
Quoting QuestionGuy
My humble advice is to read carefully what people are trying to tell you and
to find a harmony with yourself and the market.
Very nice QG... I think I can relate to this..

Quoting QuestionGuy
In a nutshell, self-discipline simply means that you do what you need to do, and you stop doing what doesn’t work."
Well, thank you for putting it in a nutshell. I'll keep this..
  • #32
  • Sep 7, 2014 4:46am Sep 7, 2014 4:46am
to get 500 pips easily you have to trade set-ups on higher time frames. no questions about it.
  • #33
  • Sep 7, 2014 5:39am Sep 7, 2014 5:39am
Digging up a thread from 2006! Nice!
  • #34
  • Last Post: Sep 7, 2014 6:45am Sep 7, 2014 6:45am
The OP is now homeless
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