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Tim's £500 marathon. Goal £1 million

  • #581
  • Apr 14, 2015 3:27pm Apr 14, 2015 3:27pm
What is you risk reward ratio? 5% is the limit for me as far as risk is concerned.
  • #582
  • Apr 14, 2015 3:56pm Apr 14, 2015 3:56pm
Quoting TimTheTrader
{quote} I dont listen to all that text book stuff 2% rule..I make my own rules. 5% is my rule. At the end of the day scared money dont make no money. 2% is baby money in my eyes. It all comes down the the traders comfort level of risk.
I've started shorting your equity curve after I've seen your trades in your explorer. Safest bet. But, hey, who i am to say anything? Just a darn waiter. LOL
  • #583
  • Apr 14, 2015 4:43pm Apr 14, 2015 4:43pm
How's your journey going? I know as far as professionals go they use such a small percentage of their account per trade but I use up to 20 percent with no problems if swing trading
  • #584
  • Apr 14, 2015 6:43pm Apr 14, 2015 6:43pm
Quoting Alexdjbk
How's your journey going? I know as far as professionals go they use such a small percentage of their account per trade but I use up to 20 percent with no problems if swing trading
Did you just say 20%? You risk up to 20% of your capital on a single trade, am I correct ?
Each losing trade is an opportunity to learn
  • #585
  • Apr 14, 2015 8:08pm Apr 14, 2015 8:08pm
Quoting Alexdjbk
How's your journey going? I know as far as professionals go they use such a small percentage of their account per trade but I use up to 20 percent with no problems if swing trading
u are not a trader, you are a gambler, and there is a very big difference.
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  • #586
  • Apr 14, 2015 8:38pm Apr 14, 2015 8:38pm
Quoting Sarythsaya
{quote} u are not a trader, you are a gambler, and there is a very big difference.
Hey, your opinion here guys. I scalp on about 90% of my trades, which I know is far different than what we're mostly talking about. If things go right, I'm rarely in a trade for more than say 10 or 15 minutes. And I base my trade sizes on a % of my account, and what I'm willing to risk per trade... basically 10 pips, which amounts to only 1% of my balance. So what I want to know is, is that amount reasonable... not if it's too big, but rather is it too SMALL?
  • #587
  • Edited 1:44am Apr 15, 2015 1:16am | Edited 1:44am
Quoting TimTheTrader
{quote} I dont listen to all that text book stuff 2% rule..I make my own rules. 5% is my rule. At the end of the day scared money dont make no money. 2% is baby money in my eyes. It all comes down the the traders comfort level of risk.
2% is baby money? We're talking about % here, you better use numeric in that case or it doesnt make any sense. Also, it all depends on how this small numeric amount is made at the end of the day. There are tons of different trades. Not just "very big ones at the right prices". No, risk is spread all over the chart throughout all kinds of positions that, in some cases, help eachother out/act as a checkpoint.
  • #588
  • Apr 15, 2015 2:13am Apr 15, 2015 2:13am
Don't compare professional money managers that have billions of dollars with somebody who starts with $500, it's obvious that he needs to risk more than 2% if he has goal to reach $1M. There's no pressure, if he loses all nothing happens, he can start again You can decrease risk when your capital grow a little bit, let's say to $10000, but it's long way
  • #589
  • Apr 15, 2015 5:16am Apr 15, 2015 5:16am
Quoting Robertk
{quote} 2% is baby money? We're talking about % here, you better use numeric in that case or it doesnt make any sense. Also, it all depends on how this small numeric amount is made at the end of the day. There are tons of different trades. Not just "very big ones at the right prices". No, risk is spread all over the chart throughout all kinds of positions that, in some cases, help eachother out/act as a checkpoint.
I was meant to say gains. On my $500 account, 2% risk to make 2% gain, is baby gains in my eyes. If I was dealing with lets say a $500,000 account, its not so much baby gains. Do you understand what I trying to say now?
Trade smart, not hard
  • #590
  • Apr 15, 2015 5:20am Apr 15, 2015 5:20am
Quoting insomniawawa
Don't compare professional money managers that have billions of dollars with somebody who starts with $500, it's obvious that he needs to risk more than 2% if he has goal to reach $1M. There's no pressure, if he loses all nothing happens, he can start again You can decrease risk when your capital grow a little bit, let's say to $10000, but it's long way
Exactly.. I am not a professional trader, I am "TimTheTrader" .

All those professional traders have a substantial amount of money to trade compared to me. I dont.
They follow the text book rule of "2%"risk, I dont..

2% risk to me is not satifactory with my small account. Maybe when I get to $100k then 2% risk would be satisfactory
Trade smart, not hard
  • #591
  • Apr 15, 2015 7:47am Apr 15, 2015 7:47am
Quoting TimTheTrader
{quote} I was meant to say gains. On my $500 account, 2% risk to make 2% gain, is baby gains in my eyes. If I was dealing with lets say a $500,000 account, its not so much baby gains. Do you understand what I trying to say now?
No i understand the small account/baby money part. But what i am trying to say is that your "baby money" can actually be tactical money in orders to manage risk efficiently on bigger sized positions. I dont mind if i make baby money at the end of the day, it simply means the market decided to not go intro extremes. The market gives what it wants to give. Respect that and then you will also respect small gains.
  • #592
  • Apr 15, 2015 4:37pm Apr 15, 2015 4:37pm
Banked 10.6% gain today...Banked it all before the euro started acting crazy which is I anticipated...But it was a great trading day for me
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Trade smart, not hard
  • #593
  • Apr 15, 2015 7:11pm Apr 15, 2015 7:11pm
Quoting TimTheTrader
Banked 10.6% gain today...Banked it all before the euro started acting crazy which is I anticipated...But it was a great trading day for me {image}
Good for you Tim, keep up the good work
Each losing trade is an opportunity to learn
  • #594
  • Apr 16, 2015 7:01am Apr 16, 2015 7:01am
Account now doubled and I have move up the leaderboard

How have a managed come this far? Afterall I am a charlatan and nothing but a 7-month demo trader right? Because of this means I do not know how to trade right? I must study forex for 7 years in order to be profitable right? I need to blow several accounts to be a millionaire right?

I don't want to sound cocky, but I am probably one of the few highly skilled advanced traders on Forex Factory, if not the world.
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  • #595
  • Apr 16, 2015 7:03am Apr 16, 2015 7:03am
THE WORLD IS YOURS, THE WORLD IS MINE, IM UNSTOPPABLE

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Trade smart, not hard
  • #596
  • Apr 16, 2015 7:51am Apr 16, 2015 7:51am
Quoting TimTheTrader
I don't want to sound cocky, but I am probably one of the few highly skilled advanced traders on Forex Factory, if not the world.
Keep it up, but look like soon you will become God? Pls do not win all the money in the world, we need some too. Thanks.
The only winner is the one who survive the longest...
  • #597
  • Apr 16, 2015 8:22am Apr 16, 2015 8:22am
Quoting TimTheTrader
Account now doubled and I have move up the leaderboard How have a managed come this far? Afterall I am a charlatan and nothing but a 7-month demo trader right? Because of this means I do not know how to trade right? I must study forex for 7 years in order to be profitable right? I need to blow several accounts to be a millionaire right? I don't want to sound cocky, but I am probably one of the few highly skilled advanced traders on Forex Factory, if not the world. {image} {image}
Arrogant B*st*rd. But I LIKE It. though u do really make me jealous.

Keep it up mate!
  • #598
  • Apr 16, 2015 8:27am Apr 16, 2015 8:27am
nice trading journal tim the trader.

I've personally blown a couple of accounts over the past few years... so can't gloat. everyone is different and an "amateur" can easily outperform a professional within this casino.

good luck with the million! There's no reason why you won't make it.
  • #599
  • Apr 16, 2015 1:24pm Apr 16, 2015 1:24pm
Quoting kinspk
{quote} Keep it up, but look like soon you will become God? Pls do not win all the money in the world, we need some too. Thanks.
..Yes I will become the Forex God when I turn my small $500 account to a mill. Those that doubted me will become believers
Trade smart, not hard
  • #600
  • Apr 16, 2015 1:31pm Apr 16, 2015 1:31pm
Quoting SingYeh
{quote} Arrogant B*st*rd. But I LIKE It. though u do really make me jealous. Keep it up mate!

Don't be jealous, be motivated. Dont listen to those so caled "gurus" who tell you that you need to blow 5 accounts just to be profitable in Forex or you have to study forex for 10 years

All those claims that these guru's create make me laugh because I have basically broken this ridiculous myth.

These so called gurus here swear they have made millions trading forex, but will never put up a real account trade explorer for proof. Always making excuses.

Dont listen to anyone who you do not see yourself in. If they have never made a million from trading and dont have evidence of performance...Dont listen to them. Or you will find yourself getting scammed.
Trade smart, not hard
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