+10% Profit per day

Great thread.

Last 48h forex teched me several good lessons & now loss down to $85... NO matter... started training again in DEMO account

& next time I gonna start to tech forex lessons

Note: Dont listen what pro trader saying about price movement.... when it comes to Forex... NO one is Pro & NO one is noob

Geez... I'm pleased with 0.5% a day. If I do extremely well, I can push it to 0.75% - 1%.

Seems like not just me... many traders suffer by forex as well

I used to aim for 1% a day when I first begun, now I am going for 2-4% but also trading multiple(10+) pairs vs 1 pair . 10% a day is for cent account trading maybe

Depend on your account.If I have got a 50k account of course far enough a daily 0,5% profit.But I never have got 50K account! So I need to push higher to my expectations.

Btw,I think with reasonably lots you can easily can do 0,5%/day.

21 % in the last three days starting from week beginning.

Well done keep the flag flying

I didn't trade on Monday, Tuesday was a red day for me and yesterday was recovery day, I'm behind right now but I know more signals will come.

Yesterday's results.

My past BIG draw down & lose happened just becoz i didnt follow trend instead working against it & result was foolishly big drawdown... therefore, now started to follow trend... lets see, & its far more less risky than what i did before

My bloodiest day of all, back to the drawing board.

In My main method of trading, average profit is about 2-5% per day in 3 or 4 trade .
if i need more profit i need to over trading and in most time the result goes to negative, in this thread my goal was ( and still is) achieving +10 percent per day but after some days this kind of trading didn't have continuous results and the accounts go down for awhile , i am still working for the aim of this thread and testing several new ways on this small account to find is there a way for this goal in every day trading or i should give up and back to my past strategy ??

NOP you shouldnt give up neither am I.... Past result of mine:

1st - from $110 to $93 just tried to hold sell position where trend was aggressively UP... Mistake was: didnt follow trend
2nd - from $116 to $85 - last BIG down of EUR also didnt follow trend & hope it will reverse Mistake was same like before

Moral: NEVER hope for anything... just follow the trend & also try to follow H1 & H4 chart trend & then use M1 & M5 chart for gap trading or scalping... there actually is NO support or resistance line.... NOT for intra day trading

If I would follow trend then currently I would be now $130 to $140 but becoz of my own foolishness I am now $90

Moral: DONT blame FOREX or Strategy.... blame yourself... 95% time we drag ourselves down... NO one else

Last thing: I NEVER used stop loss before & still not using it... & even I got 20% 30% draw down I still survived very well... therefore... If I can smartly follow trend I will grow NO matter what

So? Its possible in forex to gain 10% per day

Hello friend.
I have been following this thread silently for the most part, but I have to say something here...your assumption is totally wrong. Sure, by all means decide a way that you can make work, but your "moral" here is totally untrue. I nearly never trade with the "trend" and I profit.
Also, what is a trend? On what time frame does it become "valid?" Can you recognize it in time before it turns? Is support and resistance a line, or a zone? Do you really know what drives the market, and how those big guys operate?
Most of the terms used by the vast majority of people on Fx forums are totally meaningless. All that matters is, can you identify a potential trade setup, and consistently make money from it? Forget trends, and support & resistance, particularly in scalping because those lines are made to be broken. Trade what you see.
But in the same way, try to rationalize what you are seeing!

I strongly advise you read at least the 1st page of this thread: http://www.forexfactory.com/showthread.php?t=530946
Absorb what they are saying. Trading is mostly about perception.
Accept that for the most part, the Fx market is totally random. You will do no better predicting this, than you would predicting a roulette wheel. Learn to react, rather than predict.

Best of luck to you

I like this quote: "Learn to react rather than predict"

So, i have a ques for you... How you trade & profit? as you said you nearly never follow trend

Sure, I'll answer.

Let me put it this way;

Let's use the roulette wheel as an analogy, as it very simply sums up my approach.

Say you are sitting in a casino, but you have an overhead view of a number of roulette tables, each spinning it's own wheel.

You are watching, and for a while you see the usual patterns of red and black. So, lets say R, B, R, R, B, B, B, B, R, R.... and so on.
Then, you see something on one table... B, B, B, B, B, B, B, B, B, B, B, B, B, ...
So, ask yourself, with each spin being 50:50 in terms of red or black, what is the most likely colour to come next? Put another way, how many blacks do you think will come before you see a red?

It's the same in the markets. Up or down, that's the only possibility of any given tick. The pairs are your roulette tables.
What i do, is look for a sequence that i believe will not be continued. This is the essence of counter trend trading. I'm not trying to ride it for 1000 pips, I want to take a reasonable pullback in line with the behavior of that pair, on that time frame. Jump in, take my profit and get out! the less exposure to risk, the better.

Let's say the Euro falls 200 pips in 2 hours. Sure, it can continue...but, at some point, institutional level players will need / want to interact, and the price can either stagnate, or retrace. Can you make some money from this? You can if you decide on some good pair specific parameters!
You can go through the pairs, look at their ADR's and decide what the real average is. You can go further and analyse the movements within those ADR's. What happens when the EU has a 100 pip H1 candle? How many times and how far does it continue in that direction without some kind of pullback? How can I pick a potential entry set up from this? What is the average size of the wave motions on a given time frame?
What do my parameters need to be so i don't get spiked out of a trade before it has a chance to bear fruit? What should My PT be so that I am not holding on too long?

Ask yourself these questions. Look at how the market reacts to large unexplained moves. I stress unexplained, because news reactions are a whole other issue and should not be played with. Retail Fx traders should simply not play with news.
But, look at times without news impact. See how things happen AFTER a move that seems out of place. Check around, what drove this move? Some random crappy announcement from a twitter jockey "news" source like zerohedge, or was it a real news event? If it was not validated, can I take advantage of the inevitable pullback on a given time frame?

If you do some homework, and set the right parameters in terms of entry after "x" pips in a certain direction, and PT in "x" pips on the pullback, you can build solid systems that can be applied across various pairs, each one being specifically accounted for in terms of usual daily moves.

When you learn to do this, the "trend" if it really exists is totally irrelevant. If you are an intraday trader, the word trend should be meaningless to you. If you are an MN1 fundamental trader, taking 6-7 entries per year, by all means follow it. Otherwise, all you are doing in going with the"trend" is using a baseless reason to confirm your trade, because trend is relative. As you move up and down the time frames, the trend changes. So, which one is valid? It's not a question you can answer, so who cares what H4 is doing when I enter on M5?

Sorry for the length, but I hope you get the idea?

Yes... this was my rules & still is... Yes, even following strong trend may give you huge draw down becoz of pullback

& I always looking for this pullback therefore drawdown will be less... but in the mean time following M1 & M5 chart is hard if you doing it against main trend... becoz suddenly price may start following main trend.. & if you placed a opposite trend before then you will get permanent draw down

example: lets say last BIG down of EUR... If I would place SELL order & nothing else then, even if i would get draw down from pullback eventually I would recover it becoz I know trend is actually DOWN... but as I did BUY order therefore... i fall backed over 70+pips even more before finally i quit

So? every thing is OK... but have to follow BIG trend always otherwise odd will always go against us

10% is an extremely high growth rate, and I don't think you could sustain it on a daily basis. However, if you hypothetically did, then you would be a millionaire in 74 days.

thx for the appreciations for those who are trying to do these "Mission Impossible 5"

To match your graph , more than 10% per day would have to be achieved and a larger starting balance, as Compound Interest at 10% on £500 for 74 days makes £578,134.26. ( I can provide the calculation)
But I would expect any trader with that mindset to gradually increase the lot size as the balance increased, and if sensibility kicked in a good percentage would come out and go into the Bank. (Wealth comes from what you keep, not what you earn)

However I am starting with a smaller amount than £500, and I will stick to a plan and take good set ups and I will get there , I just don't know when.

Quoting infernal199 --- thx for the appreciations for those who are trying to do these "Mission Impossible 5" ( and Good Luck)

Let's not get ahead of ourselves here.
So far, no one has done anything close to this 10% daily. No disrespect to the thread starter Tetis, but all that has been achieved to this point is losing 58% of the account in just over a month.

This will come as no surprise to the more experienced and realistic traders among us.

To Tetis, if you have a method that consistently gets returns of 2-5% daily, why would you need to use anything else? Even starting with only $1000, inside 5 months you would be sitting on >270% if your initial investment? Is this not enough for you? If you are a professional trader as your profile states, then you should know by now that trying to gain such massive daily gains eventually and inevitably leads to massive losses.