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Are you a consistently profitable trader?

  • #81
  • Edited 5:04am Mar 29, 2012 4:51am | Edited 5:04am
Quoting pipmutt
Yes, and very significant when it comes to trading!
Very much so. If traders do not measure their progress in actuality, how will they ever know how they're really doing? Some profit here and there, but overall...?

Just saw this one...laziness. That's heavy. Woo...

I think part of the problem also is that traders feel like they're successful if they make it big. Greed? Ego? If they got 10 pips a day and traded for 20 days, that is 200 pips for the month! That's $2K per month. Even with a mini, that's $200.00 a month, plus some solid trading discipline. Grow that exponentially at 10 pips a day. I think many more traders than this 5% group have enough "skills" to get 10 pips.

FX4

P.S. EU trying to bounce.
Trade what you see, not what you think or feel. Let the market come to you.
  • #82
  • Mar 29, 2012 5:04am Mar 29, 2012 5:04am
Quoting FX4Newbies

How many pips per day (trading with a position size of 1 Standard lot) do you think the average person would need to be able to make a living out of trading?
OMG the poll ideas are getting worse, where do you think these things up, on the john or somewhere!

From <1 to >1000 depending on...............
  • #83
  • Mar 29, 2012 5:07am Mar 29, 2012 5:07am
Quoting pipmutt
OMG the poll ideas are getting worse, where do you think these things up, on the john or somewhere!

From 1 to 100 depending on...............
Discussion questions...you'll be surprised how they could help some traders. Maybe you're already where you'd like to be. If so, great!

It might sound silly, maybe because it is too simple. Maybe that's another reason...traders make everything too hard.

When people go looking for a job, aren't they looking for X amount per hour to come up with some monthly amount? Yes it depends, but there is usually a median income for a society, right? What does the average household make now?

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #84
  • Mar 29, 2012 5:07am Mar 29, 2012 5:07am
[pips.quote=FX4Newbies;5522914]Very much so. If traders do not measure their progress in actuality, how will they ever know how they're really doing? Some profit here and there, but overall...?

Just saw this one...laziness. That's heavy. Woo...

I think part of the problem also is that traders feel like they're successful if they make it big. Greed? Ego? If they got 10 pips a day and traded for 20 days, that is 200 pips for the month! That's $2K per month. Even with a mini, that's $200.00 a month, plus some solid trading discipline. Grow that exponentially at 10 pips a day. I think many more traders than this 5% group have enough "skills" to get 10
FX4

yes its sounds very easy to get 10 pips everyday,but in reality its extremly out of reach to most.

when i first started i had that mindset,i eventually realised it was hindering my development
  • #85
  • Mar 29, 2012 5:18am Mar 29, 2012 5:18am
Quoting diceman555
[pips.quote=FX4Newbies;5522914]Very much so. If traders do not measure their progress in actuality, how will they ever know how they're really doing? Some profit here and there, but overall...?

Just saw this one...laziness. That's heavy. Woo... [b]

I think part of the problem also is that traders feel like they're successful if they make it big. Greed? Ego? If they got 10 pips a day and traded for 20 days, that is 200 pips for the month! That's $2K per month. Even with a mini, that's $200.00 a month, plus some solid trading...
If you read the threads in the interactive trading forum you will see that most of traders there make a lot more than 10 pips per day
  • #86
  • Mar 29, 2012 5:20am Mar 29, 2012 5:20am
Quoting diceman555
[pips.quote=FX4Newbies;5522914]Very much so. If traders do not measure their progress in actuality, how will they ever know how they're really doing? Some profit here and there, but overall...?

Just saw this one...laziness. That's heavy. Woo... [b]

I think part of the problem also is that traders feel like they're successful if they make it big. Greed? Ego? If they got 10 pips a day and traded for 20 days, that is 200 pips for the month! That's $2K per month. Even with a mini, that's $200.00 a month, plus some solid trading...

That is true, it can. I know of traders that have a % goal. Some days they exceed it and some days they don't come close, but the mind has to be trained to succeed. This business is like no other, and probably the hardest one out there...to quote a trading buddy.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #87
  • Mar 29, 2012 5:22am Mar 29, 2012 5:22am
Quoting QuadrupleX
If you read the threads in the interactive trading forum you will see that most of traders there make a lot more than 10 pips per day
Thanks for that .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #88
  • Mar 29, 2012 5:27am Mar 29, 2012 5:27am
I saw a post by The_Wizard some time ago in which he said that traders lose not so much because of their technical analysis skills, but because of discretionary management...issues arising out of fear, second-guessing themselves etc. I think he is also a professional trader.

I think for some traders, they just need a small adjustment to come out farther ahead.

EDIT: Here is the link to his post.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #89
  • Mar 29, 2012 5:28am Mar 29, 2012 5:28am
Quoting QuadrupleX
If you read the threads in the interactive trading forum you will see that most of traders there make a lot more than 10 pips per day
ofcoarse we make more than 10 pips aday on some days it may be a 100,your missing my piont,im talking about trying to capture 10 pips every day as your target .it can hinder you,mentally you start to focus on gaining your 10 pips aday ,which can have adverse efects on your trading,

read fx4newbies post and my reply to him and your understand what my piont was
  • #90
  • Mar 29, 2012 5:32am Mar 29, 2012 5:32am
also regarding 10 pips a day,if 100 here were to try and capture 10 pips profit everyday i would be amazed over fx4newbies 3 month poll,it would be below 10 % sucses

1 pip a day would screw most
  • #91
  • Mar 29, 2012 5:33am Mar 29, 2012 5:33am
Quoting FX4Newbies

I know of traders that have a % goal. Some days they exceed it and some days they don't come close, but the mind has to be trained to succeed.
And now daily % or pip goals......

yeah ok that's enough for me, it's gone from the sublime to the ridiculous, I'm outta here.....
  • #92
  • Mar 29, 2012 5:35am Mar 29, 2012 5:35am
Quoting diceman555
ofcoarse we make more than 10 pips aday on some days it may be a 100,your missing my piont,im talking about trying to capture 10 pips every day as your target .it can hinder you,mentally you start to focus on gaining your 10 pips aday ,which can have adverse efects on your trading,

read fx4newbies post and my reply to him and your understand what my piont was
I was being sarcastic Dice. I trade professionally and I know how hard it is to make 10 pips a day CONSISTENTLY.
  • #93
  • Mar 29, 2012 5:36am Mar 29, 2012 5:36am
Quoting QuadrupleX
I was being sarcastic Dice. I trade professionally and I know how hard it is to make 10 pips a day CONSISTENTLY.
I guess you will have noticed a few posters who allegedly make 10% A WEEK (that's 10 percent, not 10 pips). Consistently, of course.
  • #94
  • Mar 29, 2012 5:37am Mar 29, 2012 5:37am
Quoting diceman555
also regarding 10 pips a day,if 100 here were to try and capture 10 pips profit everyday i would be amazed over fx4newbies 3 month poll,it would be below 10 % sucses

1 pip a day would screw most
You could be right. I have heard that said before. In the long-run, even the short-run, it's a mindset thing. Traders have to know themselves and their method well enough. But, imho, the hit-and-miss approach of many traders doesn't really work well. My 2 cents.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #95
  • Mar 29, 2012 5:39am Mar 29, 2012 5:39am
Quoting pipmutt
And now daily % or pip goals......

yeah ok that's enough for me, it's gone from the sublime to the ridiculous, I'm outta here.....
. See ya. Just trying to share other approaches that I know some traders use.

FX4

P.S. You're funny.
Trade what you see, not what you think or feel. Let the market come to you.
  • #96
  • Edited 5:01pm Mar 29, 2012 5:43am | Edited 5:01pm
Quoting micmic
I guess you will have noticed a few posters who allegedly make 10% A WEEK (that's 10 percent, not 10 pips). Consistently, of course.
I've seen some stats I won't even discuss here...'cause if there are any more Pipmutts out there, they'll be gone! It's just sad that some traders have been so conditioned, they can't embrace something else that might work for them.

FX4

P.S. EU trying to push up again. Dojis on H1 and H4...ugh.
Trade what you see, not what you think or feel. Let the market come to you.
  • #97
  • Mar 29, 2012 5:50am Mar 29, 2012 5:50am
Quoting FX4Newbies
I've seen some stats I won't even discuss here...if there are any more Pipmutts out there, they'll be gone! It's just sad that some traders have been so conditioned, they can't embrace something else that might work for them.

FX4
As I wrote in another thread, I have faith in humans and my first reaction is not to dismiss anything, even if it sounds impossible. My problems start when those consistently successful traders turn out to sell mentoring, signals, books and in fact spend a lot of time promoting their products.

That's when I will say that they are undoubtedly scammers, liars and lowlives.
  • #98
  • Mar 29, 2012 5:51am Mar 29, 2012 5:51am
Quoting QuadrupleX
I was being sarcastic Dice. I trade professionally and I know how hard it is to make 10 pips a day CONSISTENTLY.
yes i think i did,apoligies due

good trading
  • #99
  • Edited 5:03pm Mar 29, 2012 5:53am | Edited 5:03pm
Let me share with you what was hardest for me after I spent maybe 2 years or so perfecting my trading method: Trusting myself and getting ego-related issues out of the way. I think the hardest ego-related issue was wanting to be right. That I think kept me in too many losing trades.

The months when I was consistently profitable, trading was so easy. I saw my edge and clicked. I got out when my back-tested target was reached...and did the same thing the same way EVERY DAY.

Successful traders will tell you that good trading is boring because it is.

That is all I strive for now...some focused trading time and to stay in that "zone" when I trade.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #100
  • Edited 5:05pm Mar 29, 2012 5:54am | Edited 5:05pm
Quoting micmic
As I wrote in another thread, I have faith in humans and my first reaction is not to dismiss anything, even if it sounds impossible. My problems start when those consistently successful traders turn out to sell mentoring, signals, books and in fact spend a lot of time promoting their products.

That's when I will say that they are undoubtedly scammers, liars and lowlives.
I don't know of anything they have sold (the people I have in mind). I surely have never bought anything from them.

I will say this though, it costs a whole lot to get there. It is up to each trader to make up their mind about what's right for them.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
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