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Forexers: Your Monthly Profit Booms!

  • #1
  • First Post: Mar 8, 2006 7:06pm Mar 8, 2006 7:06pm
You all work hard, wether full or part-time 'forexers'. Now, I really wonder and very much interested in how much forexers can make monthly.

In % (of your capital), How much money do you make weekly and monthly in the last 12 months of your trading?

I first lost about 25% (of capital). But later, for the last three months, I could make about (less/more than) 3% every month.

What about you?
  • #2
  • Mar 8, 2006 7:18pm Mar 8, 2006 7:18pm
Quoting forexemperor
You all work hard, wether full or part-time 'forexers'. Now, I really wonder and very much interested in how much forexers can make monthly.

In % (of your capital), How much money do you make weekly and monthly in the last 12 months of your trading?

I first lost about 25% (of capital). But later, for the last three months, I could make about (less/more than) 3% every month.

What about you?
Then you're not much an emperor
In 2 weeks I made 10%. I think, I want, I know I can do much better.
How much do you study? How many system have you tested?
Try hard, think fast, die young
  • #3
  • Mar 8, 2006 8:41pm Mar 8, 2006 8:41pm
414%. I got the system from a genie in a bottle. He showed me to the end of the rainbow, where I found the pot-o-gold and a four leaf clover. Thank god for pixie dust.


Sorry, I have to dream once in a while. 2-3%. Part-time as a hobby so, it's good for me and keeps me out of the stripbars.
  • #4
  • Mar 9, 2006 3:31am Mar 9, 2006 3:31am
Not much of an emperor! Unfortunately yes!

I have tested about 5 systems and I'm studying a new system that has the potential of being 'awsome'.
Perhaps, the problem is neither my system nor my analysis... I have been studying for more than a year. Perhaps, it is lack of time, I'm a professional with a good amount of money that I found in my bank account every month. I just love forex in a cryptic sense.
It's so hard to abandon my job and set myself free for forex at the same time that it is so hard to forget about forex! A delima.

Thus, I'm trying to leave to dailies... long-term trading.
Got any solution for the delima?

Thanks for the replies, Dof and Adrian.
  • #5
  • Mar 9, 2006 4:09am Mar 9, 2006 4:09am
January 42%
February 28%
March so far -2%
time is money! Z
  • #6
  • Mar 9, 2006 4:20am Mar 9, 2006 4:20am
Zassy,
Full or part-timers?
If FX is just a side job for you, then I guess your system is just great!

Members, please let's know if you're full or part-timers beside your % gain.
Thanks for your participation.
  • #7
  • Mar 9, 2006 4:45am Mar 9, 2006 4:45am
Quoting forexemperor
Zassy,
Full or part-timers?
If FX is just a side job for you, then I guess your system is just great!
full-time.
great or not - will see what brings march.
time is money! Z
  • #8
  • Mar 9, 2006 5:30am Mar 9, 2006 5:30am
Quoting Zazzy
full-time.
great or not - will see what brings march.
Actually, I meant if you are doing it full-time that's great ! If part-time that's awsome
  • #9
  • Mar 9, 2006 5:31am Mar 9, 2006 5:31am
Quoting forexemperor
Not much of an emperor! Unfortunately yes!

I have tested about 5 systems and I'm studying a new system that has the potential of being 'awsome'.
Perhaps, the problem is neither my system nor my analysis... I have been studying for more than a year. Perhaps, it is lack of time, I'm a professional with a good amount of money that I found in my bank account every month. I just love forex in a cryptic sense.
It's so hard to abandon my job and set myself free for forex at the same time that it is so hard to forget about forex! A delima.

Thus, I'm trying to leave to dailies... long-term trading.
Got any solution for the delima?

Thanks for the replies, Dof and Adrian.
I work full time and in my free time I study forex, but I study more than work. Even at work... I study forex, so my time/day is like 6-7 hours for forex... I don't think it's about quitting your job and studing. It's studing and if you are good... quit. Now I'm not that good
Try hard, think fast, die young
  • #10
  • Mar 9, 2006 5:57am Mar 9, 2006 5:57am
" I don't think it's about quitting your job and studing. It's studing and if you are good... quit. Now I'm not that good," Dof said.

Dof, don't tell my old man or my family what you've just said! They would shot us dead the both of us... My employer pays high.
  • #11
  • Mar 9, 2006 6:01am Mar 9, 2006 6:01am
Quoting forexemperor
You all work hard, wether full or part-time 'forexers'. Now, I really wonder and very much interested in how much forexers can make monthly.

In % (of your capital), How much money do you make weekly and monthly in the last 12 months of your trading?

I first lost about 25% (of capital). But later, for the last three months, I could make about (less/more than) 3% every month.

What about you?
Hi emperor,
I think profit % is only meaningful when compared to the risks you're taking. I've seen many trader make 40% a month for 3 months and then lose 90% in the following one.

Also, I don't think 2-3% a month is bad, or "good for a part-time job". If you manage to make 30% per year, you're already better than 98% of the big hedge funds out there.

If you want to test how you're doing, I suggest you visit the following page
http://biz.yahoo.com/p/tops/all.html

Look at the top performers of the last 5 years. That is, those that win more or less consistently rather than those that hit a home run and then lose everything in the next period. As you can see in that table, the very best fund of the last 5 years (ING) had an annual return of 46%. That is less than 4% monthly - for the fund with the BEST returns out of hundreds other funds. Do you think they are a part-time investment company? The same goes for Merryl Lynch, Fidelity, and the other biggies on those tables. I don't think their traders are part time. Yet their very best fund managed to make "only" 5% per month (roughly) in the last 3 years.

Don't let anyone convince you that 3% a month is a small return.

Best regards,
Bonete
  • #12
  • Mar 9, 2006 6:46am Mar 9, 2006 6:46am
Quoting forexemperor
" I don't think it's about quitting your job and studing. It's studing and if you are good... quit. Now I'm not that good," Dof said.

Dof, don't tell my old man or my family what you've just said! They would shot us dead the both of us... My employer pays high.
Well if you are good than you make on forex more than he gives you, at least double... Then quit
You have to have at least 1 year in wich you made more than he payes you
Try hard, think fast, die young
  • #13
  • Mar 9, 2006 7:46am Mar 9, 2006 7:46am
Quoting SoyYoConBonete
Hi emperor,
I think profit % is only meaningful when compared to the risks you're taking. I've seen many trader make 40% a month for 3 months and then lose 90% in the following one.

Also, I don't think 2-3% a month is bad, or "good for a part-time job". If you manage to make 30% per year, you're already better than 98% of the big hedge funds out there....

...
Don't let anyone convince you that 3% a month is a small return.

Best regards,
Bonete
You're absolutely right Bonete!!!
40% -100% per month is only true for small accounts ( < $100,000). Most of traders who claim to make 40% and more per month will eventually blow their acc. due to overtrading, poor money management and greed.
Professional traders (with large accounts) are very happy making 3% on monthly basis. You can trust me...
  • #14
  • Mar 9, 2006 7:53am Mar 9, 2006 7:53am
If you go to fxcm.com, there is a contest section there. Every month, people are making 200% or more, and if you look at their trades, they are doing it consistantly.

Now I am willing to agree with you naysayers out there that they cant possibly pull that off every single month, and that many of them will blow their accounts out with high risk / greed and such. But I am willing to bet that they do much better than 10% each month with those skills, and with the right discipline, that can be maintained.

This is on a mini account of course. But still, huge gains are huge gains are huge gains and the proof is all there.

I don't make anything, because I am not trading real money, but it is possible to make a living at this, without stress, consistantly. The key is to focus. Keep it simple. Follow one system.

Good luck everybody
I keep a close watch on this chart of mine...
  • #15
  • Mar 9, 2006 8:34am Mar 9, 2006 8:34am
Quoting raczekfx
You're absolutely right Bonete!!!
40% -100% per month is only true for small accounts ( < $100,000). Most of traders who claim to make 40% and more per month will eventually blow their acc. due to overtrading, poor money management and greed.
Professional traders (with large accounts) are very happy making 3% on monthly basis. You can trust me...
This is a good point. But if you can deal with the overtrading, poor money management and greed, there's no reason why you can't scale up as you go. Mindset and balls! As Man in Black says, people are doing it consistently.

For me I know that the simple, consistent approach works. Too much study, and particularly listening to other people too much, wrecked my trading in the past.
The framework is there; we just have to work on our frame of mind.
  • #16
  • Mar 9, 2006 10:20am Mar 9, 2006 10:20am

Dof,

You're alive right, If I could make more than my employ pays- at least for 1 year, then I'd throw my professional card into the nearest sewage. However, it's not a matter of being a good trader only; it’s a matter of what capital you possess or how much you can borrow to finance your account: I'm not sure if I have the capital enough to make gains more than my employer puts into my account on monthly basis.



SoyyYconbonet; raczekfx,

Hi,

You've both made your point plausibly. Yet, it seems that some full-time traders can do very much better than some widely-recognized investment funds. I know a full-time trader who could (and still) get a gain of more than 60% annually for the last seven years. However, he said once that when he first started, he could not make more than 30% or 40% each year. As you can see, even as a beginner, that trader is exceptionally talented indeed. Traders like him are not many, but they do exist, don't they?


Bottom line: 3% a month is fair in FX, but perhaps it is not the gain which is balanced with the forex risks.
  • #17
  • Mar 9, 2006 10:25am Mar 9, 2006 10:25am
Quoting forexemperor

Dof,


You're alive right, If I could make more than my employ pays- at least for 1 year, then I'd throw my professional card into the nearest sewage. However, it's not a matter of being a good trader only; it’s a matter of what capital you possess or how much you can borrow to finance your account: I'm not sure if I have the capital enough to make gains more than my employer puts into my account on monthly basis.



Don't borrow. Start small and learn as you grow. That way, you're playing with the market's money and not your own - or worse still - the bank's money!

The framework is there; we just have to work on our frame of mind.
  • #18
  • Mar 9, 2006 10:31am Mar 9, 2006 10:31am
Quoting forexemperor

Dof,


You're alive right, If I could make more than my employ pays- at least for 1 year, then I'd throw my professional card into the nearest sewage. However, it's not a matter of being a good trader only; it’s a matter of what capital you possess or how much you can borrow to finance your account: I'm not sure if I have the capital enough to make gains more than my employer puts into my account on monthly basis.




Start small => grow big => prouve yourself that you can do it => quit job
It's a long procces, it doesn't happen over night

Try hard, think fast, die young
  • #19
  • Mar 9, 2006 10:38am Mar 9, 2006 10:38am
Dof, niceguy...

I hate credit! I just abhore it!
I have to have my own money be enough to make a montly living... it takes time, as you said, before I can throw my badge into the sewage (I'd lovvvvve that).
  • #20
  • Mar 9, 2006 11:34am Mar 9, 2006 11:34am
This is my average account and average gain in February 2006
over 10%

I have other accounts, gains are almost same

I am withdrawing what I have gained each month
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kiss the trend
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