18 Pips per Day (3% per week) Trading System

We wait

today is green so far.

Now then tafa.
I've been watching you all the time, was quiet but been watching you and will write you couple of things:
- trading fx is a business but it is a difficult one and only few will succeed
- it is way easier to run corner shop than earn real on fx
- you've been in it for few years and havent succeed so far - which means you won't succeed with this method/system, time to either change method or throw towel and admit like a man - I've tried but it didn't work, time to move on
- think if people who write these books about trading are really good traders - would they bother to write for money, do seminars for money etc if they were really successful traders?
- move on man. Think what you can do, what are your interests and open your business based on it. I also hate 9-5 routine or any other work routine so I've tried fx for few years till I got to point of profits but need large sum to earn. Will come back to it but rather after I esstablish proper business. At the moment I work on something on my own - I advice you same man
Pull your money out - no point wasting them
Take care and good luck

You've nailed it on this one. Most ppl try to turn their small account into a large one (which I pursue in the past). But trading the financial market isn't a place for ppl to turn a 100 bucks account into 10k in a short period of time. Even taking it up to 1k will take quite a long time with a 100bucks account but there's of course those that try their luck over here and got it but it's just beginner luck as I see it. Most ppl have been taught that trading is a business and that's true, it's a business but it's not a business for a someone to turn 100 dollars into 1k in a month, not even in a year without taking massive risk (In terms of percentage risk).

Most ppl understand that to get into the real estate business or manufacturing business, it needs quite a handsome sum of money to get it off the ground and to be profitable but with the 1:2000 leverage most brokers offering now, ppl starts to get the illusion of they can turn their small account into big one in a short period of time. I would urge those who try to turn their 100 bucks into 5k get real and either get a job or start some kind of retail business (that's the cheapest business model to get into and could potentially grow the 100bucks into 5k in a few months) and it could potentially put a few thousands into our pocket every month if it's done properly but it will takes a lot of work.

The advantage of trading the financial market is that it's pretty easy to scale which most retail business lacks, take the example of a retail store or ecommerce store, you're competing with giants like amazon, walmart and tesco. It's easy to setup a ecommerce store nowadays and you can potentially turn your 100 bucks into a thousand within a month without taking huge risk (Just make the efforts to increase the turnover!). Try to increase your profits to 10k, 20k a month and you will soon hit the wall. Even you've saved up all the profits you made earlier and have a 100k to invest into your store, it's still hard to scale it and needs to come out with a new competitive idea. You just can't multiply your profits by opening more stores, even you try to take that route, you still need to employ a new system to manage all of the stores as well as take notes on the operating costs whereas if you've saved up 100k, you can just put it into trading and do the same thing as you always did and you can see your income grows. Compounding is also another advantage we traders have in our favour. Try to compound your profits in your retail store or your car wash business!

The idea is that trading in the financial market isn't the same business as opening a store or car wash. You can start to make quite a decent amount of money every month by buying in bulks from the manufacturers and selling it high to the end users and work hard to increase the turnover but don't dream of compounding your profits whereas you can't "work harder or longer hours" in the financial market to increase your turnover but remember to take advantage of the 8th wonder of the world - compounding.

I've also took the route to build a business outside the financial market and now it's providing me a steadier cash flow which offer me a calmer mind to make trades in this total chaos forex market. I've also invested into some dividend stocks as well, although the return isn't sexy, it's good to have some other source of passive income coming in every month (Could be a good time to invest some money into some blue chips stocks at this time as we are having nice dip in the stocks market). May start looking into real estate next year.

One last advice for traders. Different business model require different size of capital and rules. Don't try to apply the same rules across all industries and never listen to those trading gurus who talks about trading and business when they have never started a business in their lifetime. Just my 2 cents though.

Sorry for the long post, just getting bored today.

Wish you all the best in starting your business and in your trading!

I still have faith and trust me , its is NOT blind faith, only time will tell

Please find attached my performance .I still have faith.Will resume trading again next week as per my 3.5% per week trading system

Please find attached my performance for last week.

Happy Trading

My EA is working so perfect it's unbelivable.!!!

I see you've lost 18% today so am not sure what you aim for.

You will never understand so I am not sure If I have to explain it to you. The reason why I am even losing this week is I forgot to enable my EA on GBPUSD, the trade went, and I missed it. From that point of view, my EA worked and it is only I who forgot to switch it on.

Coming to what happened today , I messed up on GBPAUD , I put .1 lot size instead of 0.03 and it lost 7.6%.Having said that , I am still confident that this account will win 3.5% at the end of this week even with all these losses .If it doesn’t . it just means I didn’t win , but my EA won coz the issue was with my forgetting and not the EA failing to win , if you know what I mean.

On one hand I applaud for your faith in your trading system and EA.

On the other hand, losing nearly 19% on a very average looking, slow moving day alerts ( or most definitely should alert) you that something is wrong!
Is it you, your EA, or the combination of the 2.
So many times it was jokingly asked on systems to take opposite that signal says...this might be a typical example, no offense.

WOW... impressive results! That Thing works great. -53%. It seems to consistently produce 3% per week

It’s basically me, nothing to do with the EA. The reason why I am so confident is because , since November , the Original EA I had has been winning 3.5% every week without issues .I started twicking it along the way and have done a few things here and there but as it stands , all I need to do is to keep that Original EA and everything will be fine .Just check what happens from today till Friday .Its down now but I think it can still come back and win regardless of me tampering with it.

Whatever happens , from next week , I will just leave it to perform whilst I stay away and sip my Champaign .Keep an eye , at least for the next 4 weeks if you want to see it in action for real .

Hi Tafad,

Do you mind sharing your trading strategy so that we may comment on its efficacy?

Give yourself 4 weeks just watching this and if you are happy , I will go through with you .If you are really keen , I think it’s best to go through my threads starting with All Indicators trading system Thread to this one and you will see where I have explained it .

Why not just explain it briefly right here? Im getting curious.

I will explain it for you briefly:

read only 1 book about trading - any book, makes no difference to be honest, you will be trading expert after this one book anyway

don't bother about demo account, just open real account with all your life's savings

start trading, risk a lot, lose money, brag about how good your system is, topup your account, repeat, and even if you do same mistakes over and over again - keep hoping the results will be different

that's basically it - tafa's holy grail - I think I'll do some e-book based on above method

Wish you good luck. It's good to have faith in our own trading system but the risk you are taking seems to be extremely huge (It depends on our own risk tolerance though). Make some calculations about the percentage of risk of ruin of your system to check whether it's taking huge risk.

I had to withdraw a few ££ due to some pressing financial issues , so my account is starting again from scratch

it is not a coincidence that said to use money to trade that you don't need in the day-to day going.
as for the account, just resize the positions to 0.01? ( about 1/3 you had before the withdrawal, on about 1/3 the equity you have now compared to original set up). in a way it needed to start from scratch, badly needed.
it was slowly ( or not that slowly, actually) bleeding to death.