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1 year profitable trading goal

  • #1,561
  • Oct 26, 2016 11:38am Oct 26, 2016 11:38am
Quoting 9jatrader
{quote} You're really doing great. Overtrading kills every trader's mind and account.

Thanks bro, but i need to correct a lot of stuff. After one year i will know if im doing great.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,562
  • Oct 26, 2016 6:42pm Oct 26, 2016 6:42pm
One shot, one kill.
Be patient!
  • #1,563
  • Oct 26, 2016 8:23pm Oct 26, 2016 8:23pm
Well i made my goal for the week. 2 trades of 20 pips each. Rest for the next week.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,564
  • Oct 29, 2016 9:04am Oct 29, 2016 9:04am
Peruvian80, well your profit is impressive. I myself are almost out of red spree.
Any thoughts for next week? A lot of people are telling me to better stay out next week.
Hopefully everyone here is OK and haven`t blown out their account. We still have 9 month to go green.
  • #1,565
  • Oct 29, 2016 11:43am Oct 29, 2016 11:43am
Quoting benaiah
{quote} I was thinking some more about having modest goals... Most traders, I think try to make too much money, and can't consistently control their risk (me included). However, what if all you had to do was make 5% per week? Most would probably think this is not enough gains to make it, unless you have big capital. However, even if you only start with $200, and make 5% per week, you would have millions $$$ in just a few years, actually 3.2 million at the end of the 4th year. This really puts it into perspective. If you really keep risk down, as...
5% per week goal is a huge target... 5% a month is more realistic for a smaller account but it's not easy to maintain that kind of profits... 5% a week or 1% a day were my goals quite a few years back. After a few years of swinging back and forth, I came to realise once in a while you might have 5% gains or more in a week but don't expect to have them coming in consistently every week without massive drawdown or blowout.
  • #1,566
  • Oct 29, 2016 12:02pm Oct 29, 2016 12:02pm
Quoting Alpha8
{quote} 5% per week goal is a huge target... 5% a month is more realistic for a smaller account but it's not easy to maintain that kind of profits... 5% a week or 1% a day were my goals quite a few years back. After a few years of swinging back and forth, I came to realise once in a while you might have 5% gains or more in a week but don't expect to have them coming in consistently every week without massive drawdown or blowout.
Yes great insight.
There are rarely events in the market that enable you to achieve an account increase of more then a few percent that quickly. If it is achieved your most likely over leveraged.
  • #1,567
  • Oct 30, 2016 9:10am Oct 30, 2016 9:10am
[quote=Alpha8;9225378]{quote} 5% per week goal is a huge target... 5% a month is more realistic for a smaller account but it's not easy to maintain that kind of profits...

my goal for these day are 2 trades a week , 20 pips each, 5% per trade, so 10% a week.
I was overtrading before until i got this incredible trade with gu that gave me more than 100% in a trade, that made me feel that i dont need to overtrade, just need a good setup and momentum in 5 minutes chart. So thats what im doing, most of the time wait, out of the market and just looking, and i was looking that gu are making the same thing in the last weeks. But i enter some trades in a not good price because of patience. So i need to correct a lot of things, time will tell if im nott asking for too much in a week.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,568
  • Oct 31, 2016 10:56am Oct 31, 2016 10:56am
Quoting Alpha8
{quote} 5% per week goal is a huge target... 5% a month is more realistic for a smaller account but it's not easy to maintain that kind of profits... 5% a week or 1% a day were my goals quite a few years back. After a few years of swinging back and forth, I came to realise once in a while you might have 5% gains or more in a week but don't expect to have them coming in consistently every week without massive drawdown or blowout.
Quoting Sonofsin5
{quote} Yes great insight. There are rarely events in the market that enable you to achieve an account increase of more then a few percent that quickly. If it is achieved your most likely over leveraged.
I won't argue what's possible for me, since I'm still a work in progress (taking another break from forex, but still trading futures every day)...

However, I don't think 5% a week is unattainable for a day-trader. If one targets 3-5% per trade, a single trade could be +3-5% with good R:R.

I understand most profitable traders target a much lower percent gains per year. I also know most traders are not even profitable at all. So, to look at what everyone else is doing and base expectations off of that, I think is selling oneself short. Each trader needs to determine what is attainable for them, and they can only know this after a sizable "sample size" of trades over a period of at least 6 months to a year of profitability...

Anyway, just my thoughts on it...
  • #1,569
  • Nov 1, 2016 5:23am Nov 1, 2016 5:23am
Quoting Peruvian80
Quoting Alpha8
{quote} 5% per week goal is a huge target... 5% a month is more realistic for a smaller account but it's not easy to maintain that kind of profits... my goal for these day are 2 trades a week , 20 pips each, 5% per trade, so 10% a week. I was overtrading before until i got this incredible trade with gu that gave me more than 100% in a trade, that made me feel that i dont need to overtrade, just need a good setup and momentum in 5 minutes chart. So thats what im doing, most of the time wait, out of the market and just looking,
...
Don't want to breaks anyone dream, but making 5% per trade with 20pips and 10% consistent profits every week is next to impossible but there could be exception, like Tom Cruise
  • #1,570
  • Nov 1, 2016 5:41am Nov 1, 2016 5:41am
Quoting benaiah
{quote} {quote} I won't argue what's possible for me, since I'm still a work in progress (taking another break from forex, but still trading futures every day)... However, I don't think 5% a week is unattainable for a day-trader. If one targets 3-5% per trade, a single trade could be +3-5% with good R:R. I understand most profitable traders target a much lower percent gains per year. I also know most traders are not even profitable at all. So, to look at what everyone else is doing and base expectations off of that, I think is selling oneself short....
That's true, never make any expectation based on what everyone else get. Having a good sample size to prove is the best way to learn. That's how we grow in the world of trading and investing. Only a small group of traders will listen to what successful traders says and only make their own tests after they've some success, these are usually the traders that have shorter learning curve and climb to the top.

For the majority new traders, we usually goes our own way with our own views, thinking that there's some exceptions while never thought that those who are successful belongs to the exceptions and think that we are hardworking and relentless (Was one of these guy). At some point, some gives up, some come to realize what they have been missing have been told by many other successful traders. It could takes months or years and some decades to realize it. Guess this is how we traders grow. That's why most traders have went through the same path never try to convince new traders what is right but just offer their suggestions and move on.
  • #1,571
  • Nov 1, 2016 9:35am Nov 1, 2016 9:35am
Quoting Alpha8
{quote}{quote} Don't want to breaks anyone dream, but making 5% per trade with 20pips and 10% consistent profits every week is next to impossible but there could be exception, like Tom Cruise
I dont think its impossible, but if i dont see a
proper setup i wont take the trade so i will prefer to be on a side just watching, so maybe there gonna be some weeks that i cant achieve my goal but the most important think here is that i think i wont enter trades just to be on the game. Yesterday i enter a bad trade, i didnt wait for a correct price and i lose, but im taking this with patience, maybe this week its goign to be a losing week, but if it will i will like to be the less damage for me.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,572
  • Nov 1, 2016 11:18am Nov 1, 2016 11:18am
Quoting Peruvian80
{quote} I dont think its impossible, but if i dont see a proper setup i wont take the trade so i will prefer to be on a side just watching, so maybe there gonna be some weeks that i cant achieve my goal but the most important think here is that i think i wont enter trades just to be on the game. Yesterday i enter a bad trade, i didnt wait for a correct price and i lose, but im taking this with patience, maybe this week its goign to be a losing week, but if it will i will like to be the less damage for me.
Indeed, there'll be some up & down weeks.. Everything is possible as long we got a little more patience, be more discipline and stay opportunistic..
  • #1,573
  • Nov 1, 2016 3:10pm Nov 1, 2016 3:10pm
Quoting Alpha8
{quote} Indeed, there'll be some up & down weeks.. Everything is possible as long we got a little more patience, be more discipline and stay opportunistic..
Emotions in trading are 90%. I hope my "system" works in time, let see. My first big goal is 1000 , im almost there.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,574
  • Nov 2, 2016 10:16pm Nov 2, 2016 10:16pm
So i took audjpy at 79.20, my goal is 20 pips but i close it at 79.05, then inmediatly i saw the price fallingo to 78.50 , there is when emotions get in the game, i wanted so bad to get in again because i didnt wanted to ser that move and being on the side. Selfcontrol is so important. I didnt get in but i still feel ansious.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,575
  • Nov 3, 2016 1:55am Nov 3, 2016 1:55am
Emotions and trading psychology is somehow overrated in my opinion.. Yes, trading psychology plays an important role in our trading but it's not the only thing we should focus on.. Our trading strategy, risk management and psychology are linked to each other.. Sometime a tweak in trading strategy or risk management could help us in our trading psychology.. Just my 2cents..
  • #1,576
  • Nov 3, 2016 7:33am Nov 3, 2016 7:33am
Quoting Peruvian80
So i took audjpy at 79.20, my goal is 20 pips but i close it at 79.05, then inmediatly i saw the price fallingo to 78.50 , there is when emotions get in the game, i wanted so bad to get in again because i didnt wanted to ser that move and being on the side. Selfcontrol is so important. I didnt get in but i still feel ansious.
What do you mean? anyway i load one of my scalper on my account for this thread "contest." I run out live account for testing, my broker limit 10 acc per ID. After done testing on demo, then i ll use small live acc to test. I attach the current promising branch on demo stage on my explorer, i ll move it to a small live account in two weeks if it performs well.
  • #1,577
  • Nov 3, 2016 9:14am Nov 3, 2016 9:14am
I MADE A HUUUUGE mistake, i lost 20% of my account, i took a trade gbpusd 30 minutes before the parlaments reunion, i didnt set a sl, i let the trade run against me, so everything i shouldnt have to do.

Bad Bad Bad, no discipline, too emotional,

Well let see how i recover from this one
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,578
  • Nov 3, 2016 9:26am Nov 3, 2016 9:26am
Quoting Passerby
{quote} What do you mean? anyway i load one of my scalper on my account for this thread "contest." I run out live account for testing, my broker limit 10 acc per ID. After done testing on demo, then i ll use small live acc to test. I attach the current promising branch on demo stage on my explorer, i ll move it to a small live account in two weeks if it performs well.
Wow, that's a lot of accounts and strategies to handle, do you trade with EA?
  • #1,579
  • Nov 3, 2016 9:30am Nov 3, 2016 9:30am
Quoting Peruvian80
I MADE A HUUUUGE mistake, i lost 20% of my account, i took a trade gbpusd 30 minutes before the parlaments reunion, i didnt set a sl, i let the trade run against me, so everything i shouldnt have to do. Bad Bad Bad, no discipline, too emotional, Well let see how i recover from this one
Too bad for that move in GBP/USD, hope you'll recover from it soon. Maybe try setting up your SL and TP with an alert next time and close down your computer after everything is set and only return to your computer when you got an alert that either your SL or TP is hit. This might help keep you from making emotional moves as you'll be away from your computer.
  • #1,580
  • Nov 3, 2016 11:42pm Nov 3, 2016 11:42pm
Quoting Alpha8
{quote} Wow, that's a lot of accounts and strategies to handle, do you trade with EA?
Yup, im in 3 years trading with ea. Progress kinda slow with ea, it needs to pass certain stage before fully deployable. I decide to dump my gold ea, been 2 years with good result. Developing ea quite costly at first, no income on demo stage but you still need to pay for vps. When it goes to live test, with several running you ll start earning some. Some branch will loose money, some will cover. But if you in the right direction, you ll earn some. Its getting interesting past live test. I just want to make an all around that will survive news, data n speech. The one i testing live here been through many data releases, fed speaker, n fomc. Lost is inavoidable, but all that matters for me is its ability to recover.

At first, cruching all that data and codes was very exhaustive. But once it works out, it ll be worth it.
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