Understanding your needs as a trader

Hi all,





After years of trying to turn a few thousands into millions in a short period of time. And blowing multiple accounts. I took a step back for a year or so. And realised that with slow consistent gains. Adding a few hundred a month and using compounding I could essentially have an account large enough to live off in under 10 years.

Question is, can you sit back and trade for only 0.1% or 0.2% A day. With a possible drawdown on an account of up to 20% to yield this. Are you able to do that?
That is the question I'm faced with. But the idea of letting an EA do the work on relative low risk sounds great.

After reading countless books from the top traders, it seems the long term plan on small gains is the way forward.

Do you have the mental patience to do this? Searching within yourself is key.

"Question is, can you sit back and trade for only 0.1% or 0.2% A day. With a possible drawdown on an account of up to 20% to yield this. Are you able to do that?"

Sounds non sense, sorry to say that!

It would make some sense something like this:

"Question is, can you sit back and trade risking only 0.1% or 0.2% A day. With a possible super profitable trade on an account of up to 20% from time to time. Are you able to do that?"

That would make more sense

.1% or .2% a day and risk 20% DDs,,,, that just sounds brutally painful to be honest. I could not do that. Huge DDs and miniscule profits usually mean you need to learn more to earn more. No one has a corner on the "right" way to trade but hell you could chase momentum for 5 or 10 pip at a time and make more than that and likely less DD. There are several running threads on FF with experienced and dam good traders literally showering those who want/need to learn with nuggets of gold, you just need to figure out those who are the real deal, have a style that is of interest and read em and put what you learn to practice. Most don't lay it all out plain as day, they give you bits and you need to fill in a few blanks but that's part of the process.

How did you arrive at your numbers? Theoretically, one is able to earn as much as lost. It all comes to trade management.

Certainly, as account size drops, smaller and smaller max position can be afforded with all relevant effects.

There are stocks for that sluggish trading. Take heart, arm with leverage and start to surf on crazy waves