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Traded three years - Not profitable

  • #81
  • Jul 31, 2013 12:46pm Jul 31, 2013 12:46pm
Quoting pt49
{quote} Bullshit... thats not it.Tr Trusts me... if you were trading that kind of money, you would play around with it and fuckup.
Wrong, you don't know me. I turn a consistent profit on my account with extremely low risk and no drawdown nonsense, just good entries and exits, albeit a small account. Sorry if you're jealous because you've been trying for 7 years and haven't gotten it yet.
  • #82
  • Jul 31, 2013 6:30pm Jul 31, 2013 6:30pm
If indeed you turned a consistant profit you would have a decent size account, and not need investors to trade for.
In the days of old when sailors were bold, and seldom if ever contented.
  • #83
  • Aug 1, 2013 9:09am Aug 1, 2013 9:09am
Quoting pt49
If indeed you turned a consistant profit you would have a decent size account, and not need investors to trade for.
Key word, "decent sized account". Some of us are younger and putting the money together for that kind of account takes time if you're more conservative with risk. There's nothing wrong with trading other peoples' money if you know what you're doing and you have a good record behind you - the motivation here is purely to raise capital without having to work a wage job. Not that most of us can do that without passing all sorts of SEC tests to do so first.
  • #84
  • Aug 1, 2013 11:02am Aug 1, 2013 11:02am
When young you are impatient, and that's because 5 years is maybe 20% of your lifetime. Trust me, at 65 years of age 5 years goes by very fast... because its only 7½% of my life. As they say "time is relative".

So the key is "be patient".

If you start with $1,000 and make 5% a month on average (a good return if you are consistant) you'll have...

  1. Over $18,000 in 5 years
  2. Just on $350,000 in 10 years

If you added $200 a month to your account from savings you'll accomlish the same results in less than ½ the time

Well before you reach my age you will be richest person on the planet... a $trillionaire by a big big margin., and all it takes is a consistant steady BORING 5% a month.

In the days of old when sailors were bold, and seldom if ever contented.
  • #85
  • Aug 1, 2013 11:10am Aug 1, 2013 11:10am
Just 5% a month compounding is 79.6% a year, and 79.6% a year compounded is $120 million in 20 years, and $42 Billion in 30 years, and $1½ Trillion just 5 years later.

Maybe you can only make 3% a month on average... it will be a lot slower, but you'll still be a $ Billionaire in 40 years.
In the days of old when sailors were bold, and seldom if ever contented.
  • #86
  • Aug 1, 2013 2:15pm Aug 1, 2013 2:15pm
Quoting goldenboy75
Only 3 years ? I've been trading for 10 years and still struggling...so what...are you gonna spend 10 years staring at the charts all day along ?
Wow! Member from 2005,all of the old crew left.10yrs you heard, 10 @$#%& years!! STILL STRUGGLING. This is surreal.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #87
  • Aug 1, 2013 11:15pm Aug 1, 2013 11:15pm
I only started to be more consistently profitable after 4 years 1 month.
  • #88
  • Aug 1, 2013 11:51pm Aug 1, 2013 11:51pm
Quoting pt49
Just 5% a month compounding is 79.6% a year, and 79.6% a year compounded is $120 million in 20 years, and $42 Billion in 30 years, and $1½ Trillion just 5 years later. Maybe you can only make 3% a month on average... it will be a lot slower, but you'll still be a $ Billionaire in 40 years.
Call me crazy but 5% isn't hard to make a month. The problem most eventually run into, given enough time, is liquidity and orders not filling.
  • #89
  • Aug 1, 2013 11:59pm Aug 1, 2013 11:59pm
hopefully after i graduate college this year ill be trading full time.. 5% a month is easy
Pecuniae obediunt omnia
  • #90
  • Aug 2, 2013 1:47am Aug 2, 2013 1:47am
Quoting Kanzler
{quote} Call me crazy but 5% isn't hard to make a month. The problem most eventually run into, given enough time, is liquidity and orders not filling.
Then some forex trader owns the universe already. Who is it?
  • #91
  • Aug 2, 2013 4:48am Aug 2, 2013 4:48am
Reason is even simpler: Most people are not smart enough to be able to compete in this market. They think they are smart, but they aren't. That's why they never will be successful in this market and really should do something else
Forex is a losers game.
  • #92
  • Aug 2, 2013 4:53am Aug 2, 2013 4:53am
Quoting trader121
Reason is even simpler: Most people are not smart enough to be able to compete in this market. They think they are smart, but they aren't. That's why they never will be successful in this market and really should do something else
To succeed at trading the forex you have to be very dumb in a very smart way.
  • #93
  • Aug 2, 2013 5:18am Aug 2, 2013 5:18am
Quoting Kanzler
{quote} Call me crazy but 5% isn't hard to make a month. The problem most eventually run into, given enough time, is liquidity and orders not filling.
Trust me, you won't run into problems of orders not filling until you are up to 7 figure account size, and by then, you won't care.

As for 5% a month, publish YOUR explorer showing that YOU can do it... otherwise, grow up.
In the days of old when sailors were bold, and seldom if ever contented.
  • #94
  • Edited 5:47am Aug 2, 2013 5:26am | Edited 5:47am
pt4 how was your 2000-2000000 trading journal in 12 months? wish you all the best
Pecuniae obediunt omnia
  • #95
  • Aug 2, 2013 10:09am Aug 2, 2013 10:09am
Think of managing risk in a way that you have'nt tried before.
Something that worked for someone else ( people on forums) might not work for you as you might have different risk psychology
  • #96
  • Aug 2, 2013 12:32pm Aug 2, 2013 12:32pm
Quoting Kanzler
{quote} Call me crazy but 5% isn't hard to make a month. The problem most eventually run into, given enough time, is liquidity and orders not filling.
Im an extremity on the newbie end here, but from my research and education thus far, not including drastic new world order style movements, with pure and researched TA done with proper RM it seems 3.5% to 5% a month is a realistic approach. Of course weighted down by the rare emotional trade you may look at an annual of about 40 to 45%.

Am I completely thrown off here? Would appreciate a seasoned thought.
InvestAR
  • #97
  • Aug 2, 2013 1:37pm Aug 2, 2013 1:37pm
Quoting pt49
{quote} Trust me, you won't run into problems of orders not filling until you are up to 7 figure account size, and by then, you won't care. As for 5% a month, publish YOUR explorer showing that YOU can do it... otherwise, grow up.
Baloney. You run into slippage a lot sooner than that point, unless you're running absolutely no leverage and even then I'd be surprised. Moreover, I have nothing to prove to you or anybody else on this site. I know what I make and what my friends make, and you can either believe me or call me full of BS, the cares I give are near zilch. Trade explorers are for people who want to grow an e-penis here...not my interest, sorry. I just want to fish a few of the people close to getting it out of the sewage water that is most of the content posted to this board.

Quoting Mingary
{quote} Then some forex trader owns the universe already. Who is it?
Ah long time no see Mingary. Still as big a pessimist as always I see. I'm not sure how you take from my statement to the conclusion that some forex trader owns the universe already...perhaps you missed the part about liquidity. I've always had the impression that you're out to disprove everything; let me ask, if everybody is consistently losing, who's winning?
  • #98
  • Aug 4, 2013 8:13pm Aug 4, 2013 8:13pm
Quoting trader121
Reason is even simpler: Most people are not smart enough to be able to compete in this market. They think they are smart, but they aren't. That's why they never will be successful in this market and really should do something else
I agree... Its a rough business. Can you get rich, Yes. Is it easy- no. Been doing it since 2005 and cant' say its been easy......Your looking at a human emotion in a chart trying to figure out the next direction.
  • #99
  • Aug 25, 2013 12:33pm Aug 25, 2013 12:33pm
Some people taking longer than 3 years, some people taking shorter time, so not worry, but you must not give up and keep pushing harder. Than you see results, no.
I making the BIGmonies, so far +1045 pips. Follow me if you nice guy...
  • #100
  • Aug 26, 2013 8:38am Aug 26, 2013 8:38am
I would not move to live unless you have had at least some periods where you are profitable.
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