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9-25% Monthly Enough?

  • #1
  • First Post: Dec 22, 2012 11:22am Dec 22, 2012 11:22am
How much % growth is enough per month trading?
-10, 20, 50, 100% or more?
-What's Conservative and safe?
-What's needed for success?
-Why does it seem that all the systems you try dry out your bank account? Even the systems here on FF.
-What are you looking for in trading? Please let me know by writing a message. I would love to here your input.
-Trading is stressful but I feel like I've found a way to not be stressed out anymore while trading. You got to trust your system and trade less.

My System.
-I'm trading a friends real $51,656 account found here.
http://www.myfxbook.com/members/lilredry/9-25-monthly-95-accuracy/438175

-1 trade per day. (1% profit per day)

-95% accuracy.

-9-25% monthly.

-10 pip TP and 100 pip SL. 100 pip SL seems outrageous I know but you will see if you watch the live account that it's workable for 9-25% profit per month.

What works for me.
-Small TP. 10 pips. (1% gain every winning trade)
-Large SL. 100 pips. (10% loss if hit)
-Trading with trend.
-Trading on EU and GU only.
-Spend 5 minutes a day trading.

I would be happy to here your comments, questions or suggestions. Happy trading.
  • #2
  • Dec 22, 2012 12:56pm Dec 22, 2012 12:56pm
dang

at 100 s/l you loss on a trade at 50k is about $6000 or 12%, which is eh....pretty big, but not the dead end.

personally i've recovered from a 35% drawdown before, it's not pretty, but doable.

good luck
NocturnalFX is no longer offering commercial services
  • #3
  • Dec 22, 2012 1:21pm Dec 22, 2012 1:21pm
Hi

IMO 9 - 25% weekly is more than enough!!!

Can you tell us more how you enter your trades? Are they price action based? On whick tf do you enter them?


How much times did you suffered a loss on demo? They make up 10 winning trades...


Regards
Aserafino
  • #4
  • Dec 22, 2012 2:15pm Dec 22, 2012 2:15pm
[/b]-Small TP. 10 pips. (1% gain every winning trade)
-Large SL. 100 pips. (10% loss if hit)
-Trading with trend.
-Trading on EU and GU only.
-Spend 5 minutes a day trading.

I would be happy to here your comments, questions or suggestions. Happy trading.
[/size][/quote]


Funny enough, I was just going to start a a new thread (trading systems) and one of the strategies I will be promoting is PPT (predictive price trading) more or less exactly what you are suggesting but I would not limit the strategy to just 2 pairs or to just 10 pips. Your large SL (basically a "in case of disaster SL") idea is actually very good but you can quite easily look for 30 - 60 pips if you use the higher time frame charts which you can with such a large SL. What I have been trading quite successfully is a 4hr chart IF - THEN strategy (if price action reaches A then it will more then 80% likely reach B).

What you didn't mention which I presume you are doing is low leverage at all times! ($10000 account = max 1 lot, $1000 account max 1 mini lot, $100 account trade max 1 micro lot)

Kind Regards

Jerry
  • #5
  • Dec 22, 2012 3:05pm Dec 22, 2012 3:05pm
why bother placing a stop loss in the first place ? :nerd:
let the chart to be your chauffeur ... -Forexmnstr-
  • #6
  • Dec 22, 2012 3:33pm Dec 22, 2012 3:33pm
Quoting TPOTrader
dang

at 100 s/l you loss on a trade at 50k is about $6000 or 12%, which is eh....pretty big, but not the dead end.

personally i've recovered from a 35% drawdown before, it's not pretty, but doable.

good luck

When SL is hit I lose exactly 10% of the account. It doesn't happen very often. Even if I have 1 SL hit every month I would still come out with 8-9% profit. That's a 90% win rate. Even with 2 losing trades a month I'll come out with a loss of 1-3% which is tolerable. obviously I'm not worried about losses because I'm trading like this with a real 51k account.
  • #7
  • Dec 22, 2012 3:42pm Dec 22, 2012 3:42pm
Quoting jmtini
[/b]-Small TP. 10 pips. (1% gain every winning trade)
-Large SL. 100 pips. (10% loss if hit)
-Trading with trend.
-Trading on EU and GU only.
-Spend 5 minutes a day trading.

I would be happy to here your comments, questions or suggestions. Happy trading.
[/size]

Funny enough, I was just going to start a a new thread (trading systems) and one of the strategies I will be promoting is PPT (predictive price trading) more or less exactly what you are suggesting but I would not limit the strategy to just 2 pairs or to just 10 pips. Your large SL (basically a "in case of disaster SL") idea is actually very good but you can quite easily look for 30 - 60 pips if you use the higher time frame charts which you can with such a large SL. What I have been trading quite successfully is a 4hr chart IF - THEN strategy (if price action reaches A then it will more then 80% likely reach B).

What you didn't mention which I presume you are doing is low leverage at all times! ($10000 account = max 1 lot, $1000 account max 1 mini lot, $100 account trade max 1 micro lot)

Kind Regards

Jerry[/quote]


I use 1 hour, 30 minute, 15 minute and 5 minute time frame and trade with the trend. I'll talk more about the system in the next few days. I might even post it in the Trading Systems forum if there's enough interest for it.
  • #8
  • Dec 22, 2012 3:49pm Dec 22, 2012 3:49pm
Quoting Cubbybgood
When SL is hit I lose exactly 10% of the account. It doesn't happen very often. Even if I have 1 SL hit every month I would still come out with 8-9% profit. That's a 90% win rate. Even with 2 losing trades a month I'll come out with a loss of 1-3% which is tolerable. obviously I'm not worried about losses because I'm trading like this with a real 51k account.
I really wish you the best. But its worrisome because even the best traders can have 4-5 losses in a row, which means 40-50% of the account.
Surely that would affect your emotions and mindset which could cause panic trades etc etc , you know the drill..certainly something to consider...
  • #9
  • Dec 22, 2012 4:04pm Dec 22, 2012 4:04pm
Quoting jmtini
[/b]-Small TP. 10 pips. (1% gain every winning trade)
-Large SL. 100 pips. (10% loss if hit)
-Trading with trend.
-Trading on EU and GU only.
-Spend 5 minutes a day trading.

I would be happy to here your comments, questions or suggestions. Happy trading.
[/size]

Funny enough, I was just going to start a a new thread (trading systems) and one of the strategies I will be promoting is PPT (predictive price trading) more or less exactly what you are suggesting but I would not limit the strategy to just 2 pairs or to just 10 pips. Your large SL (basically a "in case of disaster SL") idea is actually very good but you can quite easily look for 30 - 60 pips if you use the higher time frame charts which you can with such a large SL. What I have been trading quite successfully is a 4hr chart IF - THEN strategy (if price action reaches A then it will more then 80% likely reach B).

What you didn't mention which I presume you are doing is low leverage at all times! ($10000 account = max 1 lot, $1000 account max 1 mini lot, $100 account trade max 1 micro lot)

Kind Regards

Jerry[/quote]


Awesome! Glad to see some are interested in this trading style. I stick to only 10 pips because...

10 pips is easy to basket.
Takes only 5 minutes a day
Takes the stress out only looking for 10 pips every day. Changing your TP levels can be profitable but emotions are difficult to control. I don't care how educated the trader is it will always be difficult.
SL is large so I don't have to worry about my SL getting hit very often with whipsaws and news.

I trade only strong trend looking at multiple time frames.

I like a systematic approach. Keeps me in check and in profit. I can not break my rules.
  • #10
  • Dec 22, 2012 4:11pm Dec 22, 2012 4:11pm
Quoting ybeidas
I really wish you the best. But its worrisome because even the best traders can have 4-5 losses in a row, which means 40-50% of the account.
Surely that would affect your emotions and mindset which could cause panic trades etc etc , you know the drill..certainly something to consider...

I would never trade a system that I didn't trust or trade on my own demo and live accounts before trading a friends account.

I've tested this system a tun.

I hate bad days. They are scary especially if you are risking a lot. We all have them and they really mess with us. With this system I know that if I just stick to it after a loss I'll most likely come out positive at the end of the month.
  • #11
  • Dec 22, 2012 4:12pm Dec 22, 2012 4:12pm
I use 1 hour, 30 minute, 15 minute and 5 minute time frame and trade with the trend. I'll talk more about the system in the next few days. I might even post it in the Trading Systems forum if there's enough interest for it.[/quote]


OK if you are winning you must be doing something right. However it must be tough on the nerves doing it on a daily basis!

If you try for a bigger pip haul, what you can always do is open 2 trades (half of your trading amount each one) and have say a 30 pip target for one but no TP for the other. Then when you check out the position at the end of the day and find the one has ended in profit and maybe the other is 40 - 50 pips in profit - just bring up your SL to BE and let the trade run - might end up with 100's of pips. Once you've got a couple like that going well you need only check the charts every few days!
But you need to be watching at least the 4hr chart to do it successfully.


Rgds
  • #12
  • Edited 7:56pm Dec 22, 2012 4:52pm | Edited 7:56pm
Quoting Cubbybgood
I would never trade a system that I didn't trust or trade on my own demo and live accounts before trading a friends account.

I've tested this system a tun.

I hate bad days. They are scary especially if you are risking a lot. We all have them and they really mess with us. With this system I know that if I just stick to it after a loss I'll most likely come out positive at the end of the month.
Mate ... what if S/L have triggered twice or more a month ... you will end up losing more than 2% ... assuming 1% profit on 18 days and 20% loss in 2 days ... anyway 10% of an account that holds 50k is 5000$ ... thats 10k loss per month ... you will end up making 1-2% profit if not losing @ the end of the year ... I think you should reconsider your T/P-S/L method ... other than that the system seems promising
let the chart to be your chauffeur ... -Forexmnstr-
  • #13
  • Dec 22, 2012 5:16pm Dec 22, 2012 5:16pm
How long do you have tested this strategy?
  • #14
  • Dec 22, 2012 5:17pm Dec 22, 2012 5:17pm
Looks good so far, seems to be a breakout trade with the trend at or just after the London open.

The losing trade in the account ... at that time the trend was not well defined, but if you'd stuck with the trade you'd have collected on it.
In the days of old when sailors were bold, and seldom if ever contented.
  • #15
  • Dec 22, 2012 5:19pm Dec 22, 2012 5:19pm
Quoting forexmnstr
Mate ... what if S/L have triggered twice or more a month ... you will end up losing more than 2% ... assuming 1% profit on 18 days and 20% loss in 2 days ... anyway 10% of an account that holds 50k is 500$ ... thats 1k loss per month ... you will end up making 1-2% profit if not losing @ the end of the year ... I think you should reconsider your T/P-S/L method ... other than that the system seems promising
I am sorry my friend I think you have a "small" mistake.....10% of a 50k account is $5000......10k loss per month......not 1k......
  • #16
  • Dec 22, 2012 5:20pm Dec 22, 2012 5:20pm
Quoting Cubbybgood
I would never trade a system that I didn't trust or trade on my own demo and live accounts before trading a friends account.

I've tested this system a tun.

I hate bad days. They are scary especially if you are risking a lot. We all have them and they really mess with us. With this system I know that if I just stick to it after a loss I'll most likely come out positive at the end of the month.
Cubbygood...how long have you been trading this system?
  • #17
  • Dec 22, 2012 5:28pm Dec 22, 2012 5:28pm
The losing trade in the account ... at that time the trend was not well defined, but if you'd stuck with the trade you'd have collected on it.

The large SL is worriesome. Given that it appears to be a breakout entry method, I'd be looking for a shorter SL myself (breakout trades with the trend tend to have a high success rate and should almost always go more than 10 pips in an hour, especially after London open).
In the days of old when sailors were bold, and seldom if ever contented.
  • #18
  • Dec 22, 2012 5:39pm Dec 22, 2012 5:39pm
If you had 2 losing trades at 10% of the balance, you'd take a month to recover, given that your trade size would be reduced by 19% at the start of the recovery phase.

$50,000 less $5,000 = $45,000 less $4500 = $40,500 (2 losses totalled $9500 = 19%)

New bal $40,500

New trade size now for 10 pip gain = $405 per 10 pips = 1% gain

It will take just on 18 to 20 trades to recover the 2 trades lost. There's 20 to 21 London opens a month.
In the days of old when sailors were bold, and seldom if ever contented.
  • #19
  • Edited 7:58pm Dec 22, 2012 6:00pm | Edited 7:58pm
Quoting 4xPIPAHOLIC
I am sorry my friend I think you have a "small" mistake.....10% of a 50k account is $5000......10k loss per month......not 1k......
Wow... thank you ... even worse ... 10k loss your right ... it will be 5 months to liquidation ... fastest way to lose money ... anyway if he analyse the market carefully before he enters , his strategy may work
let the chart to be your chauffeur ... -Forexmnstr-
  • #20
  • Dec 22, 2012 6:14pm Dec 22, 2012 6:14pm
Quoting pt49
Looks good so far, seems to be a breakout trade with the trend at or just after the London open.

The losing trade in the account ... at that time the trend was not well defined, but if you'd stuck with the trade you'd have collected on it.
Yeah, the small loss was a mistake. My trade manager EA had the wrong settings and tried to break even on the trade. I stopped using it after that so further mistakes would not be made. It didn't work well with 5 digit brokers. Anyone have a good simple trade manager?
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