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  • #640,521
  • May 6, 2012 10:00pm May 6, 2012 10:00pm
Quoting KiwiTrada
bro watch out your aussie bull, geppy cable already back to try sushi open, kiwi already below, just keep close eye, her
her ok for now, they all be helded by sushi open, if they start to go, her will follow bro, she has no choice, cable and geppy not go very far tho

gap is worry, but may look to defend todays open, sl above friday close, not sure yet, 1st try is 94 green pip, eu kiwi aussie 37 cable so pretty happy
i bbl going out is drinks run
If you are new to Forex? Say Goodbye to your account!!
  • #640,522
  • May 6, 2012 10:03pm May 6, 2012 10:03pm
Quoting turanius
Yes absolutely! without a daily target, you will be trading like wanting to drive somewhere but not having a destination, and without having a destination you don't know where you will end up. With a destination which is the daily target, you will see when you have reached this destination and know this is what you wanted. Anything else is gambling and driving around wild without knowing where you want to go....on the calculator you see also your 6 months result which motivates you to take small profits and stop, knowing what your account balance...
That is why I have weekly targets, and monthly.
Setting daily targets is not realistic, because the market does not give you every day the same possibility.
Daily targets can be VERY frustrating and stressful.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #640,523
  • May 6, 2012 10:14pm May 6, 2012 10:14pm
Quoting KillerWhale
That is why I have weekly targets, and monthly.
Setting daily targets is not realistic, because the market does not give you every day the same possibility.
Daily targets can be VERY frustrating and stressful.
It is exactly the opposite, since your weekly and monthly targets will be much much higher than the daily target, which is much more easier to reach.

For example; if your monthly target is 25%, you will be trading focused on this target which can be frustrating and you will risk much higher margin to reach that goal easier, but if you worked with a daily target...with the sheet that I have posted, it will show you tiny amount as margin to be used, and at the same time, a tiny profit target, which is 2 or 3 times more than the 25% montly target in the end. it uses only 1% margin and shows you a tiny profit target, which you may reach in 5 minutes during london or ny session.
  • #640,524
  • May 6, 2012 10:23pm May 6, 2012 10:23pm
Quoting turanius
................For example; if your monthly target is 25%, ..................
Guys, let's be realistic.
The Thief of Wall Street
  • #640,525
  • May 6, 2012 10:24pm May 6, 2012 10:24pm
Quoting turanius
It is exactly the opposite, since your weekly and monthly targets will be much much higher than the daily target, which is much more easier to reach.

For example; if your monthly target is 25%, you will be trading focused on this target which can be frustrating and you will risk much higher margin to reach that goal easier, but if you worked with a daily target...with the sheet that I have posted, it will show you tiny amount as margin to be used, and at the same time, a tiny profit target, which is 2 or 3 times more than the 25% montly target...
Lol, you think it is realistic to talk about 2 or 3 times 25% profit per month?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #640,526
  • May 6, 2012 10:28pm May 6, 2012 10:28pm
a 25% monthly target.... where can I sign up?

I think at most a target of 10% per month is considered ok / achievable / safe.

I do agree that targets are important. I do have daily goals, but I don't keep myself awake if I don't achieve my daily goals i.e. no trades to be taken, already at my MM limit, etc. I give more importance to my weekly targets which is only 2.5% of my trading capital... and the thing is, I don't even trade taking into account the targets. I just check from time to time my online trading journal on myfxbook.com and would be happy if I see the targets achieved. Don't feel any pressure to add / scale up trades just to achieve the said targets.

That's my two pips for the day.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #640,527
  • May 6, 2012 10:30pm May 6, 2012 10:30pm
Quoting KillerWhale
Lol, you think it is realistic to talk about 2 or 3 times 25% profit per month?
This is second time in half a day you guys gave me depression and anxiety attack. First it was HDA who told us the type of account he has requires only $1 million to open and now you guys are talking about 25% to 75% a month........................................ are you guys talking about profit target or loss target? Later makes more sense

ps. One more, just above.......................... 10% pm is safe!.

I am not playing and taking my ball with me.
The Thief of Wall Street
  • #640,528
  • May 6, 2012 10:32pm May 6, 2012 10:32pm
Quoting KillerWhale
Lol, you think it is realistic to talk about 2 or 3 times 25% profit per month?
What can I do against mathematics? nothing, nor you :-)))

Just go ahead and insert 10.000 account balance...

you will see that it shows you $250 daily target,...now, is it that unrealistic to achieve $250 profit with a 10.000 account balance????

You simply open 2 trades with 2 different pairs with each 0.5 lots and close them as soon as you have 25 pips profit which every currency moves during the day....or not??? is 25 pips profit target that much unrealistic???

and if you stay disciplined and stop with $250 profit (initially for first day, which is 2.5% that sounds unrealistic but it is only 50pips profit for the day if you used 0.5 lot),...then mathematics show you that your profit will be 115% in 30 days.
  • #640,529
  • May 6, 2012 10:34pm May 6, 2012 10:34pm
Quoting Chicky
This is second time in half a day you guys gave me depression and anxiety attack. First it was HDA who told us the type of account he has requires only $1 million to open and now you guys are talking about 25% to 75% a month........................................ are you guys talking about profit target or loss target? Later makes more sense

ps. One more, just above.......................... 10% pm is safe!.

I am not playing and taking my ball with me.
Ha ha ha... The later is easier to reach for majority of the ppl in this line
But on a realistic note, I think 3% to 10% should be achievable per month if one is discipline...
  • #640,530
  • May 6, 2012 10:37pm May 6, 2012 10:37pm
Quoting Anti_Losses
Ha ha ha... The later is easier to reach for majority of the ppl in this line
But on a realistic note, I think 3% to 10% should be achievable per month if one is discipline...
Anything above 10% per year will put you among the best traders.

ps. Best of the best average 30 - 35%
The Thief of Wall Street
  • #640,531
  • May 6, 2012 10:38pm May 6, 2012 10:38pm
Quoting turanius
What can I do against mathematics? nothing, nor you :-)))

Just go ahead and insert 10.000 account balance...

you will see that it shows you $250 daily target,...now, is it that unrealistic to achieve $250 profit with a 10.000 account balance????

You simply open 2 trades with 2 different pairs with each 0.5 lots and close them as soon as you have 25 pips profit which every currency moves during the day....or not??? is 25 pips profit target that much unrealistic???

and if you stay disciplined and stop with $250 profit (initially for first...
By the way, I tried to open the file but it is PW protected...
  • #640,532
  • May 6, 2012 10:38pm May 6, 2012 10:38pm
Quoting Chicky
Guys, let's be realistic.

You certainly do crack me up.
  • #640,533
  • May 6, 2012 10:40pm May 6, 2012 10:40pm
Quoting turanius
What can I do against mathematics? nothing, nor you :-)))

Just go ahead and insert 10.000 account balance...

you will see that it shows you $250 daily target,...now, is it that unrealistic to achieve $250 profit with a 10.000 account balance????

You simply open 2 trades with 2 different pairs with each 0.5 lots and close them as soon as you have 25 pips profit which every currency moves during the day....or not??? is 25 pips profit target that much unrealistic???

and if you stay disciplined and stop with $250 profit (initially for first...
when it come to practical , it don't work that way ,
1. we don't have 30 business days month
2. each s/l will wipe put one green day profit and that day profit.
Mohan
  • #640,534
  • May 6, 2012 10:40pm May 6, 2012 10:40pm
So I take it HDA's call is down ay 12:00 midnight Eastern tonight, "[r]egardless of price" any reason why he is so confident on that?
  • #640,535
  • May 6, 2012 10:41pm May 6, 2012 10:41pm
Quoting Chicky
Anything above 10% per year will put you among the best traders.

ps. Best of the best avearge 30 - 35%
My montly profit is in avarage 30-35% and I do not consider myself as the best, and just started to work with this sheet and I know I have daily minimum 25 pips profit in avarage, but now, with the help of the calculator I will stop then and am sure I will do better with it now.
  • #640,536
  • May 6, 2012 10:43pm May 6, 2012 10:43pm
Quoting Anti_Losses
By the way, I tried to open the file but it is PW protected...
You can download openoffice which is the free version of MS Office.

Here is the link for OpenOffice;

http://www.forexfactory.com/showthread.php?t=360363
  • #640,537
  • May 6, 2012 10:43pm May 6, 2012 10:43pm
long
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  • #640,538
  • May 6, 2012 10:44pm May 6, 2012 10:44pm
Quoting Chicky
Anything above 10% per year will put you among the best traders.

ps. Best of the best avearge 30 - 35%
REALLY?!?!?!

I mean if I can maintain at current level of >3% a month I am in the best average?!?!?

All the while I am thinking the figure is something like >100% a year!

I am running at about 3.5% for the last 3 months which I console myself that at least I am not underwater...

You really make me a little happier today...
  • #640,539
  • May 6, 2012 10:44pm May 6, 2012 10:44pm
Quoting turanius
What can I do against mathematics? nothing, nor you :-)))

Just go ahead and insert 10.000 account balance...

you will see that it shows you $250 daily target,...now, is it that unrealistic to achieve $250 profit with a 10.000 account balance????

You simply open 2 trades with 2 different pairs with each 0.5 lots and close them as soon as you have 25 pips profit which every currency moves during the day....or not??? is 25 pips profit target that much unrealistic???

and if you stay disciplined and stop with $250 profit (initially for first...
Calculate yourself rich if you want.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #640,540
  • May 6, 2012 10:46pm May 6, 2012 10:46pm
Quoting turanius
My montly profit is in avarage 30-35% and I do not consider myself as the best, and just started to work with this sheet and I know I have daily minimum 25 pips profit in avarage, but now, with the help of the calculator I will stop then and am sure I will do better with it now.
Take a galss 3/4th full of water. Hold it out with your working hand for five seconds. Then keep holding, see how long you can hold it.

Many things in this world are not how big or small they are, but for how long they remain big or small.
The Thief of Wall Street
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