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20% per month. Is this possible?

  • #221
  • Dec 18, 2011 10:19am Dec 18, 2011 10:19am
Quoting Reactor
I think you are missing the point. There will be losses. Being confident will not change the situation.

A high probability trading method and you'll have enough set-ups during the month to hit 20%, including the losses?

By the way, I was talking monthly, not weekly. I think you are counting your chickens before they have hatched and getting ahead of yourself thinking you can do 20% a day.

As an example, let's say you have $10k, 50:1 leverage and you use it all, you trade EURUSD and your base currency is USD. You'll need about 53 pips a day...
TBH I know what I and my group of traders can do, unlike you, I am not thinking or wondering about it.

I started out by believing all the hype about the big players only shooting for 50% a year etc, well we are NOT big players so we don't have to settle for that.

I started out hoping to make 10% a month and thought that was good, then upped it to 20%, then 30% etc etc. 10% a week soon became possible, now I realise some DAYs can be 10-15% days.

You say the best probability you have seen is 60-70%, well I am telling you you are looking in the wrong places and you are wrong.

The only thing stopping me or my group making 95% winners is if we don't follow my systems rules to the letter.

Build yourself a good short term trading method and the only reason you will have losers is if you don't have a good plan and you then fail to trade that plan.

Oh and yes I realised you said monthly and I said weekly.
  • #222
  • Dec 18, 2011 6:52pm Dec 18, 2011 6:52pm
Quoting jag1966
TBH I know what I and my group of traders can do, unlike you, I am not thinking or wondering about it.

I started out by believing all the hype about the big players only shooting for 50% a year etc, well we are NOT big players so we don't have to settle for that.

I started out hoping to make 10% a month and thought that was good, then upped it to 20%, then 30% etc etc. 10% a week soon became possible, now I realise some DAYs can be 10-15% days.

You say the best probability you have seen is 60-70%, well I am telling you you are looking in the...
Given, you are making such claims, it would only be appropriate that you show proof.

I've attached a picture as my proof that I know what I'm talking about.

Now it's your turn.
Attached Image (click to enlarge)
Click to Enlarge Name: photo.JPG Size: 210 KB
Good judgement comes from experience. Experience comes from bad judgement.
  • #223
  • Dec 18, 2011 9:18pm Dec 18, 2011 9:18pm
Quoting Reactor
Given, you are making such claims, it would only be appropriate that you show proof.

I've attached a picture as my proof that I know what I'm talking about.

Now it's your turn.
just because you have a Bloomberg terminal doesn't mean your acc is bigger then mine (or maybe it does ) it's funny we have the same dell monitors, I assume, (u2412m) and sennheiser headphones (CX300-II)...

I wold like to know what you have for a monitor stand, I'm looking to get one since I'm having only 2 monitors atm and it's kind of hard for me to have anything then 6 charts + a browser on it.

OT: 100%+ is realistically possible with small accounts until you hit the best bid/ask size. after that is a different game. now how many people that have small accounts really know how to trade and properly manage their exposure to the market?
  • #224
  • Edited 1:37am Dec 19, 2011 12:03am | Edited 1:37am
Quoting Reactor
Given, you are making such claims, it would only be appropriate that you show proof.

I've attached a picture as my proof that I know what I'm talking about.

Now it's your turn.
I'll let jag1966 speak for himself, but his return claims are definitely attainable.

A good working knowledge of how support and resistance operates (see this thread, for example) can give you some very low risk entries, i.e. 5-10 pip stoplosses. Now if we take EU as an example, its ADR is currently around 150 pips. If you manage to capture 70 of those pips for a 5 pip+2 pip spread entry, that's a 10:1 trade. If the initial risk was 1%, there's your 10% in a single trade. (2% risk would equate to 20% return, and so on). And of course you could have trades going in other pairs; more trades during other sessions; pyramiding into trades; etc. There are plenty of different strategy variations you can employ, if you have a good knowledge of price behavior.

Being able to make the occasional 10:1 and 20:1 wins allows plenty of margin for error, in terms of losing trades. Hence you can afford to take many positions. Greater trading frequency means faster turnover, and faster compounding, neither of which increases risk, which remains X% per position.

Accurate entries + optimized position sizes + high turnover + frequent compounding is one possible way to get there.

If I may be blunt, nobody is obliged to prove their claims, especially if they're not selling anything. What do they have to gain by doing so? Their returns are their own business; others can choose to believe them, or not. What is the optimum use of a trader's time: trying to persuade a few skeptical strangers to believe his %ROE claims, or simply using that time to go about the business of making more money?
  • #225
  • Dec 19, 2011 1:33am Dec 19, 2011 1:33am
Quoting Reactor
Given, you are making such claims, it would only be appropriate that you show proof.

I've attached a picture as my proof that I know what I'm talking about.

Now it's your turn.
That photo is proof?
  • #226
  • Dec 19, 2011 2:41am Dec 19, 2011 2:41am
Quoting Reactor
Given, you are making such claims, it would only be appropriate that you show proof.

I've attached a picture as my proof that I know what I'm talking about.

Now it's your turn.
Nice picture, sorry I grew out of the multi monitor, multi instrument, multi timeframe, multi indicator and newsfeed phase a while back.

Now I just need one laptop, naked candle charts and a few dollar related pairs at most in order to make the percentages I require most days.

Like Hanover says, understanding support and resistance properly is all you need.
  • #227
  • Dec 19, 2011 2:53am Dec 19, 2011 2:53am
Quoting jag1966
Nice picture, sorry I grew out of the multi monitor, multi instrument, multi timeframe, multi indicator and newsfeed phase a while back.

Now I just need one laptop, naked candle charts and a few dollar related pairs at most in order to make the percentages I require most days.

Like Hanover says, understanding support and resistance properly is all you need.
I would just like to say, preventive, that all of this possible pissing contest is unnecessary. Having only one laptop or 8 24¨monitors no one really cares on the Internetz. But I love a good setup. Is there a thread about that?
  • #228
  • Dec 19, 2011 4:08am Dec 19, 2011 4:08am
True but people need to be encouraged by facts and NOT discouraged by people that don't know what they are talking about.
  • #229
  • Dec 19, 2011 1:52pm Dec 19, 2011 1:52pm
I don't now, could anybody do 20% per month - my dream to have 10-12% per month, and i would like to have it month by month. May be i will try to do that. )
  • #230
  • Dec 19, 2011 6:56pm Dec 19, 2011 6:56pm
Quoting jag1966
True but people need to be encouraged by facts and NOT discouraged by people that don't know what they are talking about.
Why don't you just show some proof that you know what you are talking about rather than using a confidence trick?
Good judgement comes from experience. Experience comes from bad judgement.
  • #231
  • Dec 19, 2011 7:23pm Dec 19, 2011 7:23pm
This post is more to address the new people reading this thread and thinking it is easy, as some posters are making it out to be, to make money in FX.

I'd strongly suggest, like me, you ask for proof of the claims some people make here, before you believe them. It takes no effort to grab a screen shot or take a picture and then remove anything too private. If they are genuine and are here to help, they will. This is just common sense.

Unfortunately, the majority of people want to believe people who are confident and forget to do due diligence.
Good judgement comes from experience. Experience comes from bad judgement.
  • #232
  • Dec 19, 2011 7:52pm Dec 19, 2011 7:52pm
Quoting 2+2=4ex
That photo is proof?
What standard of proof do you need that I know what I'm talking about?

Bare in mind I will expect the same back in return as it would only be the professional thing to do.
Good judgement comes from experience. Experience comes from bad judgement.
  • #233
  • Dec 19, 2011 8:56pm Dec 19, 2011 8:56pm
Quoting jeanlouie
"Maybe", that's the key word here isn't it, 'maybe' they did this, 'maybe' they did that. In the end it just boils down to either proofs or assumptions. I don't really care either way. But I do understand where you're coming from, which is really the lack of proof of winning traders who were once members and went off the radar for whatever reason.

I'm not accusing you of anything, just informing on the reality that high voucher members and low voucher members as well as members with 'longevity' whether they are making money or not, don't always...
I've opened FF's trade explorer on my account here, so you can have a look at my trades on my personal account. Just click on my name.
Good judgement comes from experience. Experience comes from bad judgement.
  • #234
  • Dec 20, 2011 12:27am Dec 20, 2011 12:27am
To support the "yes you can lot", here are two facts which everyone should agree with.

(1) The average daily range of EU is around 160 pips.

(2) compounding works

There is no way you cannot take at least some pips a day from the average daily of 160 pips. Then since compounding works then why keep saying 20% per month can't be done consistently?

Blind leading the blind comes to mind ...
  • #235
  • Dec 20, 2011 3:09am Dec 20, 2011 3:09am
Quoting pa18
To support the "yes you can lot", here are two facts which everyone should agree with.

(1) The average daily range of EU is around 160 pips.

(2) compounding works

There is no way you cannot take at least some pips a day from the average daily of 160 pips. Then since compounding works then why keep saying 20% per month can't be done consistently?

Blind leading the blind comes to mind ...
You can always show your book as proof. This site allows you to show your book and it's easy.

There is only one reason why you wouldn't want to be transparent.
Good judgement comes from experience. Experience comes from bad judgement.
  • #236
  • Edited 5:42am Dec 20, 2011 3:51am | Edited 5:42am
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  • #237
  • Dec 20, 2011 4:11am Dec 20, 2011 4:11am
Quoting pa18
To support the "yes you can lot", here are two facts which everyone should agree with.

(1) The average daily range of EU is around 160 pips.

(2) compounding works

There is no way you cannot take at least some pips a day from the average daily of 160 pips. Then since compounding works then why keep saying 20% per month can't be done consistently?

Blind leading the blind comes to mind ...

Demo or live doesn't matter, are you making and compounding pips consistently?
  • #238
  • Dec 20, 2011 5:32am Dec 20, 2011 5:32am
Quoting Reactor
You can always show your book as proof. This site allows you to show your book and it's easy.

There is only one reason why you wouldn't want to be transparent.
I pretty sure you heard this before but anyway, whatever your motive ...

I have no interesting in showing anything to anyone.

I hope my above affirmation will not cement ideas in you that 20% per month is not possible just because you personally need to see it to believe it.

Here is something you can think about ... when I first started to trade, no one told me what is possible or not, I discovered this all by myself --- the answer is it just requires belief and a leap of faith!
  • #239
  • Dec 20, 2011 6:10am Dec 20, 2011 6:10am
Quoting Rikers
-
---Quote (Originally by Reactor)---
You can always show your book as proof. This site allows you to show your book and it's easy.

There is only one reason why you wouldn't want to be transparent.
---End Quote---
so no one can reverse your trading strategy and compete for you for liquidity
simple cross correlation with your entries and known indicators/systems should give up your entry/exit logic with a decent amount of certainty

as for you, sir - you don't know how to trade; the only thing keeping you afloat is your 1:2 R:R MM
You're not competing for liquidity on a retail level. If you're trading more than 10 million units and taking away liquidity, then I'm impressed, but I'd want to see proof if you are going to make that claim.
Good judgement comes from experience. Experience comes from bad judgement.
  • #240
  • Dec 20, 2011 7:01am Dec 20, 2011 7:01am
Quoting Reactor
You're not competing for liquidity on a retail level. If you're trading more than 10 million units and taking away liquidity, then I'm impressed, but I'd want to see proof if you are going to make that claim.
Not pointing to any particular individual but I notice a lot of time someone will say that they do/can do something and everyone want evidence that they can do it or is doing it. If/when I start to make 1% consistent per day and I voluntare to tell someone that I am doing it I dont intend to show them that I'm doing it unless I intend to sell them my method which I wouldnt. And another thing, why is it when someone comes on to tell how they manage to start trading consistently the get shot down in flames or told to shut-up? we should be congratulating them for finally solving the puzzle instead. Afterall we will eventually get our break soon-ish
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