Dislikedthe biggest mistake i made was not to use compounding a lot earlier
i started in 2009 and used pyramid compounding for 26 months
it is a conservative strategy basically compounding the profits at a higher rate than the " fund capital"
at the end of 26 months every $10 of "fund capital" was worth $437Ignored
The Really Useless Thread
- #120,261
- Oct 31, 2012 12:18pm Oct 31, 2012 12:18pm
- Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts
- #120,263
- Oct 31, 2012 12:27pm Oct 31, 2012 12:27pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
This is where having a day job really helps me out. 100% profits are reinvested. Looking at the compounding numbers makes me sick to my stomach.
" Never let the past hold the future to ransom "
- #120,264
- Oct 31, 2012 12:28pm Oct 31, 2012 12:28pm
- Joined Sep 2010 | Status: Trader | 11,327 Posts
at the end of 26 months every $10 of "fund capital" was worth $437
- #120,265
- Oct 31, 2012 12:31pm Oct 31, 2012 12:31pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #120,266
- Oct 31, 2012 12:36pm Oct 31, 2012 12:36pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
first I thought - why stop at 26 months? , then I thought - at 4000+% , well - you could probably take the foot off the pedal a bit
i figured that i have a "shelf life" or a " sell by date " as a trader
being a forex slave or forex burnout was never on my wishlist
it is a demanding and stressful job if you do it as a career
i have taken the foot of the pedal and trade my "beerfund" for spending money, 3 days a week now
not depending on forex for my daily living is where i wanted to be
" Never let the past hold the future to ransom "
- #120,267
- Oct 31, 2012 12:39pm Oct 31, 2012 12:39pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
" Never let the past hold the future to ransom "
- #120,268
- Oct 31, 2012 12:43pm Oct 31, 2012 12:43pm
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
trading dustbins is tough, it requires absolute concentration and you don`t have a lot of room for errors
i figured that i have a "shelf life" or a " sell by date " as a trader
being a forex slave or forex burnout was never on my wishlist
it is a demanding and stressful job if you do it as a career
i have taken the foot of the pedal and trade my "beerfund" for spending money, 3 days a week now
not depending on forex for my daily living is where i wanted to be
- #120,269
- Oct 31, 2012 12:52pm Oct 31, 2012 12:52pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
you guys don't let him get you thinking that dustbins are easy ... believe me ... he just makes them look easy
it was easier when i started it is certainly more difficult now with the small trading ranges and choppy PA
BUT....you only need 20-30 pips/day to make it work
you still have 6-8 trade opportunities LDN-NY to LDN close
2-3 years ago you had 10-12
" Never let the past hold the future to ransom "
- #120,270
- Oct 31, 2012 12:56pm Oct 31, 2012 12:56pm
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
it is certainly more difficult now with the small trading ranges and choppy PA
BUT....you only need 20-30 pips/day to make it work
you still have 6-8 trade opportunities LDN-NY to LDN close
2-3 years ago you had 10-12
why you so quiet today or should i just know that this was not an easy day for you either
this is the second day this week that my levels were off by 10 so you know what that means. PAINFUL
- #120,271
- Oct 31, 2012 1:03pm Oct 31, 2012 1:03pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
and i got 26 today and feel utterly exausted too
why you so quiet today or should i just know that this was not an easy day for you either
this is the second day this week that my levels were off by 10 so you know what that means. PAINFUL
i was expecting a bigger range today after NYSE was closed for 2 days and was hoping to get 6-8 dustbins today
" Never let the past hold the future to ransom "
- #120,272
- Oct 31, 2012 1:05pm Oct 31, 2012 1:05pm
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
and i got 26 today and feel utterly exausted too
why you so quiet today or should i just know that this was not an easy day for you either
this is the second day this week that my levels were off by 10 so you know what that means. PAINFUL
- #120,273
- Oct 31, 2012 1:06pm Oct 31, 2012 1:06pm
- Joined Sep 2010 | Status: Trader | 11,327 Posts
you guys don't let him get you thinking that dustbins are easy ... believe me ... he just makes them look easy
- #120,274
- Oct 31, 2012 1:07pm Oct 31, 2012 1:07pm
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
i can hit more dustbins if i focus on the charts, switch of Skype and not chit-chat on the thread
i was expecting a bigger range today after NYSE was closed for 2 days and was hoping to get 6-8 dustbins today
- #120,275
- Oct 31, 2012 1:10pm Oct 31, 2012 1:10pm
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
absolutely not - I've done a fair bit of scalping to know damn well it ain't
was i wrong
- #120,276
- Oct 31, 2012 1:10pm Oct 31, 2012 1:10pm
- Joined Sep 2010 | Status: Trader | 11,327 Posts
cocktail time here
heavy on the overproof rum 
- enjoy ... bbl
- #120,277
- Oct 31, 2012 1:12pm Oct 31, 2012 1:12pm
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
I'll have a zombie , Queen - as it's halloween
- #120,278
- Oct 31, 2012 1:14pm Oct 31, 2012 1:14pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
the stock exchange was operating off generators today and internet access was not good so it really wasn't that bad for the conditions they were under. oh and phone lines were also down which didn't help either.
it is fairly normal to have a bigger ADR the first trading day of the month
cheers....pulling the plug over here myself ...no need to work into my cocktail hour
" Never let the past hold the future to ransom "
- #120,279
- Oct 31, 2012 1:16pm Oct 31, 2012 1:16pm
- Joined Apr 2005 | Status: Mr. R.E. TIRED | 4,540 Posts
" Never let the past hold the future to ransom "
- #120,280
- Oct 31, 2012 1:21pm Oct 31, 2012 1:21pm
- Joined Mar 2010 | Status: aka QueenB | 4,808 Posts
cheers
tomorrow will be a better day for sure ... see ya then