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  • #21
  • Oct 11, 2014 12:29pm Oct 11, 2014 12:29pm
doing 2% a day is much better approach.

so if you have 1000$ then you only need to make 20$ a day, That's 420$ a month considering 21 trading days
  • #22
  • Oct 11, 2014 12:44pm Oct 11, 2014 12:44pm
Quoting dranzer006
doing 2% a day is much better approach. so if you have 1000$ then you only need to make 20$ a day, That's 420$ a month considering 21 trading days
you do realize, if you could pull of a 2% a day consistently over only one year (assuming 52 weeks x 5 trading days) =260 trading days, then you would get a 17,120% return on your money. That's more than what the S&P 500 did over the last 50 years. Good luck with that.
  • #23
  • Oct 11, 2014 12:57pm Oct 11, 2014 12:57pm
Learn Price Action
Be Patient....
  • #24
  • Oct 11, 2014 1:06pm Oct 11, 2014 1:06pm
i am not looking for milliones they are looking for me
i just want to make a living from home thats all no boss or some one that follows you all day just living
all have a nice day
focus while relaxed to see better
  • #25
  • Oct 11, 2014 1:41pm Oct 11, 2014 1:41pm
Quoting Soros
Hello Guys, this thread is an introduction to the thread that I will start, bascaly I WILL ATTEMPT TO MAKE A MILLION DOLLARS starting with very little Captal $1k-$10k and I will use the power of compound interest to help me achieve that goal quicker.. OK…. SO MY QUESTION IS, ARE THEY ANY DOLLAR FOREX MILLIONAIRES HERE ON THIS FORUM?????? I think I know a couple, I think the sonic R guy is 1, james16 should be 1, Ronald Raygun is definitely 1, Merlin has to be 1……….. Why I ask this because ive seen FF veterans, guys who have been here since 2005...
i can only say Good Luck on that my brother.

Eitan.
when GOD brings you a challenge he also gives you the power to deal with it
  • #26
  • Oct 11, 2014 1:45pm Oct 11, 2014 1:45pm
I am not a millionaire...not even close.
However, i realized a long time ago that looking for "strategies that work" is a mistake, because with the right money management they can ALL work.

Its not being able, or willing to adjust your trading to market behavior, and poor money management that will wipe you out.

I have been making an average of 4% per day now for a very long time, because i have learned to to accept what the price action is doing, and trade accordingly.
I not saying its easy...I'm just saying that sticking rigidly to a strategy just because it worked for someone else, does not mean it will work for you.

Apologies for the words in "bold" , but I think they are important

Green pips to all,
Paul.
  • #27
  • Oct 11, 2014 1:59pm Oct 11, 2014 1:59pm
Quoting Soros
it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it. many things were thought to be impossible and not logical, it took men like me to prove those things wrong.... from sports to science to inovation, men have proved that nothing is impossible to the determined man!...
I like this guy. This is the attitude you need, along with a level head.

To some of the responses in here..... Why do something if your not going to be great at?

And I know some think 5%, 10%, 20% a day is virtually impossible, what are your thoughts on your own trading then?

Looking forward to this discussion.

MM
  • #28
  • Oct 11, 2014 2:20pm Oct 11, 2014 2:20pm
Quoting Soros
it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it. many things were thought to be impossible and not logical, it took men like me to prove those things wrong.... from sports to science to inovation, men have proved that nothing is impossible to the determined...


Quoting Madmoney
This is the attitude you need,Why do something if your not going to be great at?
Money is made by sitting, not trading. Jesse L. Livermore
  • #29
  • Oct 11, 2014 2:21pm Oct 11, 2014 2:21pm
Quoting Soros
it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it. many things were thought to be impossible and not logical, it took men like me to prove those things wrong.... from sports to science to inovation, men have proved that nothing is impossible to the determined man!...

You are scaring me.

Perhaps when we find ourselves wanting everything, it is because we are dangerously close to wanting nothing.
  • #30
  • Oct 11, 2014 2:21pm Oct 11, 2014 2:21pm
Quoting Soros
it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it. many things were thought to be impossible and not logical, it took men like me to prove those things wrong.... from sports to science to inovation, men have proved that nothing is impossible to the determined man!...
Hi Soros. I wish you the best for fullfilling your dreams. As you know, i criticized you in other threads in the past (doing maybe also the figure of the "old bad naysayer" that does not know anything about a person and in spite of that wanna to decapitate his/her dreams). Of course i have done it cause others (newbies particularly) have to have the right perception of the RISKS in trading forex and not the perception of an easy cake to taste as scammers around wanna convince them about , trying to sell their sh*tty systems (and also i admit cause you, at that time, reminded me some very young entrepeneurs with big dreams but not much CONCRETE ideas/ways to get them, apart..believing...of course i can be wrong.. not the first time i am )

Now well, i think i will surprise you (i hinted this attitude of mine, that lives within my other conservative me, in the Vigo thread,recently,i think). I like the people who dares...IF they dare with criteria and not "random" or just "believing"... and with a plan (and i think that threads like Eitan's last one,also helped you to find some viable plans to play with ). Barely any good thing in life is dangerous ijn some way and has its level of risk...but as i said in another thread, humanity has often (if not ever) evolved by taking risks, not passively doing what others always have done previously.
Of course, use money you can afford to lose... but this you already know.

GO DARING EAGLE! .. and let us know how the journey proceed
  • #31
  • Oct 11, 2014 3:20pm Oct 11, 2014 3:20pm
Quoting Custos
{quote} you do realize, if you could pull of a 2% a day consistently over only one year (assuming 52 weeks x 5 trading days) =260 trading days, then you would get a 17,120% return on your money. That's more than what the S&P 500 did over the last 50 years. Good luck with that.
1: most trader here trade in forex so its not just limited to S&P or particular fx pair or stock
2: we are sell and buy here so we can profit on both ways
3: trading range on most stocks is much higher than daily open and close

i believe 2% is quite easy to achieve ( this is 2% on your initial capital eg. 100$ investment = earning 2$ a day )

so where will this fail ?

1: you can't win all the traders, there will be a bad day
2: when you lose your more likely to think of covering up the lost traders so 2% becomes 4% and so on
3: single trading system can't work all the time
  • #32
  • Oct 11, 2014 5:50pm Oct 11, 2014 5:50pm
I personally know a trader that makes 4 times his account a month. He lives off his trading. He is one of the best traders I ever witnessed. 20% a year is when you have a huge 50 million fund and you don't have to work hard, just have a good strategy, money management now there is a topic that I can tell you right out of the starting gate is 99% crap.

Traders that talk about a 1-2% risk do so because their strategy is quite frankly crap. A good strategy will deliver about 9/10 winning trades time after time. I know I have seen the guys trading results and witnessed his live calls. He uses no indicators, he is in tune with the market, what he knows you won't learn in a book or get a course on.

I am trading like him and I will post my result live here to see if I can do it. I am starting with $280. I will make my calls public as well as my entries. I trade Oil, DAX,SP,GBPUSD. My aim is to double the account this coming week. Then do the same next week and so on.

Wish me luck
  • #33
  • Oct 11, 2014 7:00pm Oct 11, 2014 7:00pm
Quoting Hurst
I personally know a trader that makes 4 times his account a month. He lives off his trading. He is one of the best traders I ever witnessed. 20% a year is when you have a huge 50 million fund and you don't have to work hard, just have a good strategy, money management now there is a topic that I can tell you right out of the starting gate is 99% crap. Traders that talk about a 1-2% risk do so because their strategy is quite frankly crap. A good strategy will deliver about 9/10 winning trades time after time. I know I have seen the guys trading results...
Nothing is impossible in this world .................................... even writing such a post.
The Thief of Wall Street
  • #34
  • Oct 11, 2014 8:06pm Oct 11, 2014 8:06pm
Why would anyone in there right mind besides if they trying to sell you something advertise the amount of money they have. Do you think people are really that stupid? Oh I am so and so and I have this much and made this much? Besides who really gives a flying fuck. Is it ever going to do anything for you as an individual? No so why bother. Just makes your own trades for goodness sake.
All posts are my personal opinion
  • #35
  • Oct 11, 2014 10:31pm Oct 11, 2014 10:31pm
The risks of compounding.

1. Your wins and losses have to be normalized across all pairs so that you can be consistent with your win percentage.
2. Compounding daily with a loss will increase the amount you need to win with your next trade to bring your trading account back to norm.
3. Each pair outside of the ones crossed with the USD have different pip values
4. Each pair has a different spread.
5. Your Reward Ratio has to you be skewed in your favor to match your win rate.

These things need to be addressed even before you begin to trade.

Best regards
  • #36
  • Oct 11, 2014 10:48pm Oct 11, 2014 10:48pm
Quoting Custos
{quote} WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you? And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex)? Have you seen an audited account? A little hint about the internet: 99% is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big? maybe. Everything you said...
.....And when they put '1' because they are too lazy to type all the many letters in 'one'.
All you touch and all you see, is all your life will ever be.
  • #37
  • Oct 12, 2014 12:15am Oct 12, 2014 12:15am
Quoting Custos
{quote} WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you? And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex)? Have you seen an audited account? A little hint about the internet: 99% is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big? maybe. Everything you said...
You are so naive. There are people like him right here on FF, but they never stand under a spotlight. This should be a good food for thought for you. Cohen is a 2 year old child before such great traders. ..............................................................Is 2 ok or I have to write Two?

Quoting Hurst
I personally know a trader that makes 4 times his account a month. He lives off his trading. He is one of the best traders I ever witnessed. 20% a year is when you have a huge 50 million fund and you don't have to work hard, just have a good strategy, money management now there is a topic that I can tell you right out of the starting gate is 99% crap. Traders that talk about a 1-2% risk do so because their strategy is quite frankly crap. A good strategy will deliver about 9/10 winning trades time after time. I know I have seen the guys trading results...
The Thief of Wall Street
  • #38
  • Oct 12, 2014 12:27am Oct 12, 2014 12:27am
Quoting Rtm
Why would anyone in there right mind besides if they trying to sell you something advertise the amount of money they have. Do you think people are really that stupid? Oh I am so and so and I have this much and made this much? Besides who really gives a flying fuck. Is it ever going to do anything for you as an individual? No so why bother. Just makes your own trades for goodness sake.
Human Being is a complex creature. If you are doubtful about this statement, read my posts, you will start believing me .......................... until you trace my ip address that leads to a McLean. The posts you referred to are connected more to pride than selling snake oil. By the way, snake oil is a necessity if you have more than one wives.


http://en.wikipedia.org/wiki/McLean_Hospital
The Thief of Wall Street
  • #39
  • Oct 12, 2014 12:38am Oct 12, 2014 12:38am
Life lived in fear is Life unlived, I don’t wana be an old man with many regrets that I have not lives my life to its fullest and I have not chased after my dreams, the worst that can happen is me failing and me attempting to try again, im not stupid to set unrealistic goals, each goal I set is realistic and has been researched, research has gone into proving that it can be achieved, I have a game plan(strategy, a proven edge, MM, the right mindset, the right environment) If I loose I will be sad, but its life, I HAVE LEARNT IN MY VERY SHORT YEARS HERE ON EARTH THAT WE LEARN MORE FROM LOSSES THAN WE DO FROM WINNERS.

Thomas Edison failed over 1000 times before mastering the LIGHT BULB, When Henry Ford told his engineers that he wanted them to create a V8 engine they laughed at him because back then in they mind it was impossible to create such thing, Mr Ford didn’t care, all he wanted was results, he told them to figure it out, and they did!! THE WORD IMPOSSIBLE IS A LIE USED BY NORMAL PEOPLE, I am not normal, Tim Sykes took 13k and turned it into millions trading pennystoks, even though its not forex but the principal still remains A DREAMER HAD A DREAM, HE KNEW IT WAS POSSIBLE, then he went out and achieved it, and if its that easy then why don’t you do it?

I have read many threads here on FF of people putting up they trade Explorer and also posting statement and they have been making cazy money for over a year now, they seem to just milk the markets every single time, and they followers seem to be doing the same thing aswell, im talking about threads that post proof, 1 thread I read the guys there have been milking it for over 3 years now, they seem to milk it every single time, THEY ARE DOING WHAT MANY PEOPLE SAY ITS IMPOSSIBLE, AND THEY ARE DOING IT EVERY SINGLE DAY, lucky? I don’t think so, that’s not luck, luck is winning the lotto, luck happens rarely, Skill happens every single day!

Were all Crazy/Stupid enough to trade Forex, so why don’t we take it a step further and be crazy enough to be flippen good at it and make a crap load of money, be great or be forgotten, History never remembers the average person.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #40
  • Oct 12, 2014 12:40am Oct 12, 2014 12:40am
Quoting eitan1010
{quote} i can only say Good Luck on that my brother. Eitan.
master thank you for visiting, Im deeply humbled!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
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