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  • #640,561
  • May 6, 2012 11:12pm May 6, 2012 11:12pm
Quoting KillerWhale
I didn't know you were already there.
Congrats.
You got it wrong.

The first one would be his broker.
The Thief of Wall Street
  • #640,562
  • May 6, 2012 11:12pm May 6, 2012 11:12pm
Quoting rafiqhidayat
LOL...

I agree. It's easier to double your account when you're working with smaller amounts.

E.g.

If I have a USD 100 account, my mentality would be even if I lose everything, I lose USD 100.

If my account has grown to USD 100,000, now my mentality would be, I shouldn't risk my account more than USD 1k per trade because if I lose the amount, I lost 1k (assuming SL). So it's harder to double an account of USD 100,000 compared to USD 100.

After my first month re-trading (after Zulutrade posted a big loss for me), I had a 25% monthly...


This is the mistake most of us traders make...

why not calculate your profit target for each trade, knowing what your daily target is,...no matter how small or big your account is, if you stick with the formula and know that you are using(risk) only 3% of your equity and set yourself 25pips target for that trading day....if you rached the 25 pips target, your profit is 0.3% for that day, 7.5% for the month and 138% for the year...

and it is not really that risky to execute 3% margin for a trade with 25 pips target,...well, if you did 2 trades a day each with 25 pips, then you have done even better.
  • #640,563
  • May 6, 2012 11:15pm May 6, 2012 11:15pm
Quoting disegnosys
The way I see it we just had the big explosive move short with the stupid loss I took carrying a trade over the weekend. I broke one of my rules doing that. F me!
Yeah with all of the elections and what not, was very risky holding over the weekend. I held, but as stated earlier my targets were 3015 and 3025 respectively.
All that is left in FF is just plain garbage. "Cloggie"
  • #640,564
  • May 6, 2012 11:19pm May 6, 2012 11:19pm
Quoting turanius
This is the mistake most of us traders make...

why not calculate your profit target for each trade, knowing what your daily target is,...no matter how small or big your account is, if you stick with the formula and know that you are using(risk) only 3% of your equity and set yourself 25pips target for that trading day....if you rached the 25 pips target, your profit is 0.3% for that day, 7.5% for the month and 138% for the year...

and it is not really that risky to execute 3% margin for a trade with 25 pips target,...well, if you did 2 trades...
Please read the whole purpose of my post. My point is, even with all the forex knowledge in the world, unless you can move the market, you will lose some. Nobody wins all the time.

It's about training up the mental side of the trader. Read my other person that I was responding to BSFGCapital or something. From a theoretical point of view, you have the logic. But in real life, nothing follows logic to a T. That's the main issues I have with consultants (I am one myself), it's always about theories / logic. Implementing the logic always conflicts with reality (generally people), which makes the best logic anyone can come up with fail.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #640,565
  • May 6, 2012 11:19pm May 6, 2012 11:19pm
Quoting BFSGcapital
Thats because you are over the hard hump. Getting from 10k to 100k is the same as getting from 100k to 1 million. If you got the balls to think in percentages, not money.

Even if you could compound leverage and make 1% a day, you would be to over 1million easily within a year.. not going to do the math but if its not at least 1 million, its in the high 100ks.
Compounding is powerful. To successfully compound 1% each and every day for a whole year is virtually impossible. I also think it's harder to go from 100k to 1M than it is from 10k to 100k. And not because of the mental part of it, although that could also play a roll. I would imagine dealing with larger orders creates fills at worse average prices, assuming everything else equal( such as spreads and/or commissions.
  • #640,566
  • May 6, 2012 11:19pm May 6, 2012 11:19pm
Quoting KillerWhale
I'm sure very soon you must be the first trillionaire in the world
There already are trillionaires are you kidding?
An opportunity lost is not a capital cost.
  • #640,567
  • May 6, 2012 11:20pm May 6, 2012 11:20pm
Quoting Chicky
You got it wrong.

The first one would be his broker.
  • #640,568
  • May 6, 2012 11:21pm May 6, 2012 11:21pm
geppy kiwi cable is going to test sushi open again, day is start good, now is boring,, maybe this time, get things on road again
If you are new to Forex? Say Goodbye to your account!!
  • #640,569
  • May 6, 2012 11:21pm May 6, 2012 11:21pm
Quoting turanius
This is the mistake most of us traders make...

why not calculate your profit target for each trade, knowing what your daily target is,...no matter how small or big your account is, if you stick with the formula and know that you are using(risk) only 3% of your equity and set yourself 25pips target for that trading day....if you rached the 25 pips target, your profit is 0.3% for that day, 7.5% for the month and 138% for the year...

and it is not really that risky to execute 3% margin for a trade with 25 pips target,...well, if you did 2 trades...
have you ever done 138% one year with a standard account ?if you have done ,show us ,we will know you are a great trader ,if you havent , you cant say that . peace

and the biggest wrong point of you is ,you believe you can win 0.3% everyday .but it is impossible .
A chart helps those who can read it.
  • #640,570
  • May 6, 2012 11:22pm May 6, 2012 11:22pm
Quoting 2+2=4ex
Compounding is powerful. To successfully compound 1% each and every day for a whole year is virtually impossible. I also think it's harder to go from 100k to 1M than it is from 10k to 100k. And not because of the mental part of it, although that could also play a roll. I would imagine dealing with larger orders creates fills at worse average prices, assuming everything else equal( such as spreads and/or commissions.
Pm StPeter, and ask him is he getting problems getting orders filled, he's trading 25 to 35 lots at a time. (Standard)
All that is left in FF is just plain garbage. "Cloggie"
  • #640,571
  • May 6, 2012 11:22pm May 6, 2012 11:22pm
Quoting KiwiTrada
enough enough, bro if it work you for congrates, I do this a long time, you sound like everything is easy, nothing is easy this business, is million different system to use trade, all sometimes is work ok, most is fail long term, 95% traders is fail, so is not easy,

i do like some things you is saying, compounding formula, less number trades etc etc.

I think is nice lesson to, have maximum trade of 1 per day, gain or loss is not matter, just 1 trade, I will gauranteed you will think very hard before decide to enter.
If is fail, next day,...

Yes, fear is the biggest enemy of every trader, but you can banish it from your trading mentality if you keep the trade size at max 3%...even better if you use only 1%, with 25pips profit target for the day = 0.25% profit....no matter how big your account is....the bigger the better.
  • #640,572
  • May 6, 2012 11:23pm May 6, 2012 11:23pm
Quoting BFSGcapital
There already are trillionaires are you kidding?
Carlos Slim is the richest person with $69 Billion and nick name Chicky
The Thief of Wall Street
  • #640,573
  • May 6, 2012 11:24pm May 6, 2012 11:24pm
Quoting tonyo524
Pm StPeter, and ask him is he getting problems getting orders filled, he's trading 25 to 35 lots at a time. (Standard)
I don't know that person.
  • #640,574
  • May 6, 2012 11:26pm May 6, 2012 11:26pm
Quoting 2+2=4ex
I don't know that person.
oh ok, I'll ask him.


Dow and S&P futures, down big time. I think the fed printing press will be working overtime in the morning.
All that is left in FF is just plain garbage. "Cloggie"
  • #640,575
  • May 6, 2012 11:27pm May 6, 2012 11:27pm
Ya, I wasn't even thinking about this week. I had closed all my shorts from the beginning of the week. Then, thinking longs would work. My gut said stay in long, the charts still said short. But noooo, I was thinking I could out smart the market and put a sneaky long trade in again. LOL!!! F me! I did make 2% today on some quick scalps but that hurt and I know better.

Quoting tonyo524
Yeah with all of the elections and what not, was very risky holding over the weekend. I held, but as stated earlier my targets were 3015 and 3025 respectively.
  • #640,576
  • May 6, 2012 11:28pm May 6, 2012 11:28pm
Quoting geniusztc
have you ever done 138% one year with a standard account ?if you have done ,show us ,we will know you are a great trader ,if you havent , you cant say that . peace
how many % is that?:

10K Account opened 10.18.2011 = To Date Balance 7.05.2012: 103,492
(Including losing some bad losing trades and huge dd's I had in between)

I normally do not post my numbers but did only because some of you made comments about "theory and practice are different"
  • #640,577
  • May 6, 2012 11:29pm May 6, 2012 11:29pm
Quoting Chicky
Carlos Slim is the richest person with $69 Billion and nick name Chicky
  • #640,578
  • May 6, 2012 11:31pm May 6, 2012 11:31pm
Quoting tonyo524
Pm StPeter, and ask him is he getting problems getting orders filled, he's trading 25 to 35 lots at a time. (Standard)
i don't see any isue with big orders , once math error in script placed 40 lot i did not had any slip , i only had heart pain when show it was 40 lot
Mohan
  • #640,579
  • May 6, 2012 11:33pm May 6, 2012 11:33pm
Quoting Chicky
Carlos Slim is the richest person with $69 Billion
Not in disagreement on Carlos Slim as being recognized as the world's richest person (officially listed), just want to add that wealth can sometimes not be measured by way of power. Some say the Rothschilds or Rockafellers were the worlds most wealthy and influential people. You also have rulers and dictators like the Saudi oil families. Some have said that Fidel Castro's "hidden" wealth makes hime among the world's richest.
  • #640,580
  • May 6, 2012 11:34pm May 6, 2012 11:34pm
Quoting turanius
10K Account opened 10.18.2011 = To Date Balance 7.05.2012: 103,492
(Including losing some bad losing trades and huge dd's I had in between)

I normally do not post my numbers but did only because some of you made comments about "theory and practice are different"
very good result but it's not matching your theory . as per your theory you should have crossed 350,00

Edited : corrected for holiday
Mohan
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