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10% per month

  • #1
  • First Post: Nov 17, 2015 12:27pm Nov 17, 2015 12:27pm
Hello. I am an amateur trader, only one year of trading experience (but a lot of work and passion for that, including hundreds of hours searching, reading and demo trading).
I have a question, I plan to invest some money at last. And I target returns of 10% per month for a span of 5 Years in a row without any withdrawal in these 5 Years. So to build a good capital to trade for a living after those years. (I am 25 btw)
Is it achievable to profit 8%~12% every month?
And what is the best and SAFEST way to achieve that?
What knowledge do I need to have?

Thanks in advance for your time.
  • #2
  • Nov 17, 2015 12:47pm Nov 17, 2015 12:47pm
Quoting Skotidas
Hello. I am an amateur trader, only one year of trading experience (but a lot of work and passion for that, including hundreds of hours searching, reading and demo trading). I have a question, I plan to invest some money at last. And I target returns of 10% per month for a span of 5 Years in a row without any withdrawal in these 5 Years. So to build a good capital to trade for a living after those years. (I am 25 btw) Is it achievable to profit 8%~12% every month? And what is the best and SAFEST way to achieve that? What knowledge do I need to have?...
first of all, almost everybody here is an amateur, except a few.
here is my personal opinion. i do not think 10% per month can be achieved SAFEST way, nonetheless, it is achievable but you will be risking little more than your comfort level. during these 5 yrs you are almost guaranteed that you will have losing months too.
As Above, So Below
  • #3
  • Nov 17, 2015 12:58pm Nov 17, 2015 12:58pm
I liken safe to expensive.

Expensive for you is probably not the same as expensive for me. (Don't take that as me saying I have more or don't have more - that really isn't the point.)

Safe for you is probably not the same as safe for me.

My personal opinion on the matter is to start by looking to achieve .25% per day. If the return you suggest is the equivalent of sitting at a table and eating an entire elephant and will cause you to achieve your sense of success from trading, there's no shame in starting smaller to see what may or may not work to achieve that goal.
"Holy Grail" exists - accepting where is the first step.
  • #4
  • Nov 17, 2015 4:20pm Nov 17, 2015 4:20pm
Quoting Skotidas
Is it achievable to profit 8%~12% every month?

Not every month, realistically, but it's possible to average that, over the year, just about, if you have enough of an edge and all the other skills you need. Very few people have, though.

Edges of the kind you'd need, to do that, come only with patience, discipline, statistics, probability, education, experience and practice (there are no productive short-cuts).

A lot of beginners start off imagining that all they need to do, to gain an edge, is to copy something that "just works", typically without appreciating that doing that successfully necessarily entails first learning to distinguish accurately between what works and what doesn't. And doing that is no trivial matter at all, partly because (for various reasons - some very obvious but others far from it) the internet, in particular, is full of misinformation about trading. In a field of endeavour from which so very few people ever manage to make a living, it stands to reason, in my view, that the overwhelming majority of the "information" with which one's presented is actually quite likely to be seriously misguided. Which is, of course, one of the many reasons why overall success-rates are so very poor.
  • #5
  • Nov 19, 2015 1:22am Nov 19, 2015 1:22am
It's much possible to achieve 10% per month, but I still moving forward to this objective, constraint 10% should keep strictly risk control plan and reasonable trading strategy.
  • #6
  • Nov 19, 2015 6:50am Nov 19, 2015 6:50am
Quoting Skotidas
Hello. I am an amateur trader, only one year of trading experience (but a lot of work and passion for that, including hundreds of hours searching, reading and demo trading). I have a question, I plan to invest some money at last. And I target returns of 10% per month for a span of 5 Years in a row without any withdrawal in these 5 Years. So to build a good capital to trade for a living after those years. (I am 25 btw) Is it achievable to profit 8%~12% every month? And what is the best and SAFEST way to achieve that? What knowledge do I need to have?...
The sad reality is their is no such thing as a "safe" way to make any kind of money. I honestly suggest, that you develop a sold system based on aiming for small amount of pips, while risking small amount of pips. Should you master that form of trading, then you will notice that the same patterns you have traded on the lower tf, you can also trade on the higher tf. Many people, here at forexfactory, swing trade. So you may see that a person is making good trades, but how good are your trades if you are holding a position for 6 months, in which you close for 3% profit, but that one position had you in red over 20%
  • #7
  • Nov 19, 2015 7:25am Nov 19, 2015 7:25am
Quoting Skotidas
...Is it achievable to profit 8%~12% every month?
I think you ask the wrong question. I would rather ask: What can you achieve consistently over a period of 5 years on a real account?

Quoting Skotidas
...And what is the best and SAFEST way to achieve that?
No one can give you a correct answer to this as each trader has to find it's own way...

Quoting Skotidas
...What knowledge do I need to have?
All you could get could never be enough, so be patient, the chance is that you are young, so you have plenty of time for that.

If after one year of demo trading you think you can switch to real and make consistently 10% over 5 years, well, I think you still have a long way to go but don't worry that's ok and normal, you will discover that by yourself...

Trading is an endless loop: You learn, you try, you fail, you learn...

Good luck,
BT
Simplicity is the Ultimate Sophistication.
  • #8
  • Nov 19, 2015 11:23am Nov 19, 2015 11:23am
Reading carefully all of your replies, respect your opinions and gathering usefull data. Thank you.
My plan is to swing trade only indices like DAX or SP500 when they pullback from a loss.
By this I mean that, I will wait until an index price falls 3% - 5% and when I realise it's going to climb back, I will open long positions.
Simple as that.
I have one major fear, the crashes. For example the one that happened on August, and everything dropped 15%-20%.
If I had a leveraged long position that time, my account would be blown out then.
I am working on how to avoid those, or how to close my positions early when something like this happen.
  • #9
  • Nov 19, 2015 12:58pm Nov 19, 2015 12:58pm
Quoting broketrader
I would rather ask: What can you achieve consistently over a period of 5 years on a real account?

Same here: I think that's a much better and more significant question.


Quoting Skotidas
I am working on how to avoid those, or how to close my positions early when something like this happen.

That would be strongly advisable, if you're looking at long trades on indices: I never guess, for myself, but many fundamentalists certainly seem to think, at the moment, that a slump of 15-20% in indices like the S&P could quite easily be on the cards in the not-too-distant future?
  • #10
  • Nov 20, 2015 12:30am Nov 20, 2015 12:30am
hi file skotida

if you have good MM , yes , you can do it
  • #11
  • Nov 20, 2015 2:22am Nov 20, 2015 2:22am
10% per month possible if u trade by yourself following risk reward ratio and proper money management. Any Ea never give u good result. In the long run ea wiped out your account. i can give u example which i got from my senior. For any physical business u need to study 20 years for earning good money. So if u want to earn from Forex Same money u need to study at least half of that time. Good Luck..................

Forex Income = 3P that means Perseverance , Passion and Practice make money. good luck
  • #12
  • Nov 20, 2015 6:28pm Nov 20, 2015 6:28pm
Buy Stock and stay out of currencies.
  • #13
  • Nov 20, 2015 6:57pm Nov 20, 2015 6:57pm
Yes but your focus has to be on trading your setups , and executing correctly,so the quality of your setups (what you've learned and tested works) and your ability to follow your plan will be seen in your results (pips)
  • #14
  • Nov 20, 2015 7:11pm Nov 20, 2015 7:11pm
Quoting Skotidas
Reading carefully all of your replies, respect your opinions and gathering usefull data. Thank you. My plan is to swing trade only indices like DAX or SP500 when they pullback from a loss. By this I mean that, I will wait until an index price falls 3% - 5% and when I realise it's going to climb back, I will open long positions. Simple as that. I have one major fear, the crashes. For example the one that happened on August, and everything dropped 15%-20%. If I had a leveraged long position that time, my account would be blown out then. I am working...
Correct you have to manage your losses and protect yourself first and foremost especially while your in a knowledge gaining period (you sound like you are) you should be incorporating another strategy that gets you in a trending day also, for example when I day traded the s and p many years ago I was able to catch a runner for 10 plus handles at least once a week and I targeted that... you have a lot of work ahead of you
  • #15
  • Dec 8, 2015 8:31am Dec 8, 2015 8:31am
10% a month is my great target!
  • #16
  • Dec 8, 2015 7:08pm Dec 8, 2015 7:08pm
I think you need to trade for awhile and then see what results you can achieve rather that trying to predict your performance
  • #17
  • Dec 11, 2015 11:26am Dec 11, 2015 11:26am
10% is the plan I have begun to work on since I started using MT4 a few weeks ago.Using a small amount of capital initially whilst I get used to MT4.

However,it hasn't taken me very long to "fall off my horse " and learn some painful lessons.It would be safe to say there are many ways in which traders work,and each will have his/her own style.My style tends to be by scalping trades immediately before/after data is released.....when pairs tend to be most active.I'll scalp them for an hour or so.My big mistake this week was moving a stop when in hindsight I should have closed the trade ( USD/CAD ). Yes,I would've suffered a small loss.Instead I ignored my gut feeling and let it run.So that trade is currently about 60 pips away.Also,I usually try to close trades before the end of each working day.

But getting back to the topic of 10%..................yes I believe it is possible but patience and consistancy are key.
FXsniper Pips This Month: -757
  • #18
  • Dec 11, 2015 1:12pm Dec 11, 2015 1:12pm
Quoting paulw
10% is the plan I have begun to work on since I started using MT4 a few weeks ago.Using a small amount of capital initially whilst I get used to MT4. However,it hasn't taken me very long to "fall off my horse " and learn some painful lessons.It would be safe to say there are many ways in which traders work,and each will have his/her own style.My style tends to be by scalping trades immediately before/after data is released.....when pairs tend to be most active.I'll scalp them for an hour or so.My big mistake this week was moving a stop when in hindsight...
Hello my fellow scalper,

I too scalp, and do the opposite of what you do. I respect the price action leading up to and after news events. From the information I have gathered, and not saying it is the holy grail, but the market trades in a very predictable loop for most of the time in which we watch it. As a scalp, you may want to try to take positions "inside accumulation" levels as inside those levels you have a smaller chance of being whip lashed compared to scalping after high impact news. The market can only do 1 of 3 things at a time, and once you enter within accumulation you have a very good chance of catching the next wave, no matter how small it maybe. Please have a look at my trade explorer to see the accuracy of the entries trading on the 5m chart.
  • #19
  • Dec 11, 2015 11:52pm Dec 11, 2015 11:52pm
Hello dear,
U read lots of people's here every person have different views basically trading is not have a single systems to follow but right side.
Some rules for u to make u 20% per month....
A. Stay away from forex
B. Trade commodities like gold
C. Use leverage 25%.
D. Trade on daily breakout only
C. Risk rewad ratio., 1: 1 at least.
D. Safe side taking after 50% target (move stop to breakeven)
E. React not predicts.
F. Don't buy that looks cheap and sell which looks expensive.
Cheeersss.
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -717
  • #20
  • Dec 12, 2015 3:40am Dec 12, 2015 3:40am
Quoting mohsinali
Hello dear, U read lots of people's here every person have different views basically trading is not have a single systems to follow but right side. Some rules for u to make u 20% per month.... A. Stay away from forex B. Trade commodities like gold C. Use leverage 25%. D. Trade on daily breakout only C. Risk rewad ratio., 1: 1 at least. D. Safe side taking after 50% target (move stop to breakeven) E. React not predicts. F. Don't buy that looks cheap and sell which looks expensive. Cheeersss.
Thank you for your time responding and sharing your advice sir, will come in handy.
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