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Profit 1% a day 300 % a year

  • #1
  • First Post: Aug 30, 2006 3:47pm Aug 30, 2006 3:47pm
Hi,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

We all know trading involves lose and gain.<o></o>

Do you think some one could have 1% profit in average?<o></o>

Example: - One could start with $ 10K and after year, he gain $ 45K and lost $ 10K so the net gain is $ 35K means 1% profit a day.<o></o>

Do you think this Example is artificial and impossible to get?<o></o>




Really appreciating your opinion
Thanks
  • #2
  • Aug 30, 2006 3:51pm Aug 30, 2006 3:51pm
Quoting Houd
Hi,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

We all know trading involves lose and gain.<o></o>

Do you think some one could have 1% profit in average?<o></o>

Example: - One could start with $ 10K and after year, he gain $ 45K and lost $ 10K so the net gain is $ 35K means 1% profit a day.<o></o>

Do you think this Example is artificial and impossible to get?<o></o>
Really appreciating your opinion
Thanks
The quick answer to your question is "YES" it is quite possible. However, in my opinion in the risky market of Forex it's better to set the goal of staying safe. Money will show up very soon and more than what you expect (if you don't become greedy).
  • #3
  • Aug 30, 2006 9:15pm Aug 30, 2006 9:15pm
Hi,
I am posting this thread for the scond time.
I got one reply.But this is very imoortant to get more opnions.

Do you think some one could have 1% profit in average?
Example: - One could start with $ 10K and after year, he gain $ 45K and lost $ 10K so the net gain is $ 35K means 1% profit a day.
Do you think this Example is artificial and impossible to get?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
Thanks
<!-- / message -->
  • #4
  • Aug 30, 2006 9:35pm Aug 30, 2006 9:35pm
Quoting Houd
Hi,
I am posting this thread for the scond time.
I got one reply.But this is very imoortant to get more opnions.

Do you think some one could have 1% profit in average?
Example: - One could start with $ 10K and after year, he gain $ 45K and lost $ 10K so the net gain is $ 35K means 1% profit a day.
Do you think this Example is artificial and impossible to get?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
Thanks
<!-- / message -->
Nope. My current system is .6% a day. A little low, but just about right for me right now. If I made too much money, I would screw up because I'm not ready to make that much mentally yet.

1% is VERY possible. Consistently is another thing.

But you shouldn't think in daily terms. Don't think, Oh, I need to make 1% a day. All you should worry about is that you've backtested, forward tested, done your homework, trust the system, and after a year, if it returns you 1% a day on average, then pat yourself on the back.
Mr. Trend
  • #5
  • Aug 30, 2006 10:22pm Aug 30, 2006 10:22pm
Really I think it is trivial to think like this. To put a set number on expected profits just seems like a waste of time. As long as you are consistent and have a working edge, does it really matter how much profit you made? Why worry about profits when you have bigger things to worry about, like being consistent ^^;

Just don't get caught up in dream land and focus on the now moment. Remeber, anything is possible, don't make expecations on a market that can do anything.
  • #6
  • Aug 30, 2006 11:01pm Aug 30, 2006 11:01pm
I wouldn't set a specific #....I think that patience and planning will help u achieve whatever goal you are looking for...
CRAIGSLIST BARTERING CHAMPION
  • #7
  • Aug 30, 2006 11:38pm Aug 30, 2006 11:38pm
Quoting Houd
Hi,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

We all know trading involves lose and gain.<o></o>

Do you think some one could have 1% profit in average?<o></o>

Example: - One could start with $ 10K and after year, he gain $ 45K and lost $ 10K so the net gain is $ 35K means 1% profit a day.<o></o>

Do you think this Example is artificial and impossible to get?


Really appreciating your opinion
Thanks
Absolutely it is possible... I think that is the best goal to set. It is realistic yet a good challange. It does come with a "but".

I have a certain $ figure. I only trade with about 1/10 of it. My goal is 1%/day on that tenth... not the whole thing. So in reality it is no where near 1%. However, it goes to show what you are actually capable of. If you were to start making 1%/day with $1k... instead of risking your trading career by going in heavy... within a few years you would be able to easily retire from any day job. In 100 days you double your money. Now you have 2k. At the same time you add another of your initial balance to the trade... now you have 3k to trade with 8k on the side. After another 100 days you have 7k for trading and 7k on the side. Then 15 and 6. You never put yourself in a position that you were deeply afraid of hurting your future chances in the business. Is reasuring... at least to me .

Of course... it is a lot harder to accomplish than anyone would ever write about. I sit shy of 5%/week... though am making grounds. So those hypothetical goals above will take me 2-3x longer . Either way... as long as you are headed /\ instead of \/ ... you are in good shape : .
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #8
  • Aug 31, 2006 2:30am Aug 31, 2006 2:30am
I think 1%/day is nowhere near imposible. However, there are some area you need to focus which is like Money Management.

In average, most people risk around 2%/trade. Where as the risk/reward could be 1:3. 1:3 means 2%:6%. What i am trying to say is that, dont focus on making 1%/day average because belive me, you could make more if you have a system/modal that fits you persobality and the most important, good MM which actually gives you the different in P/L.

but then again, im new myself.
I Love Forex Factory!
  • #9
  • Aug 31, 2006 5:36am Aug 31, 2006 5:36am
It is very possible to get. But while looking to tripple your account it's even easier to wipe it all out. That being said, you can shoot for much higher returns if you're willing to increase your risk. I don't know what your risk tolerance is but if you have a small account you should be shooting for at least 250% pa.

This is all assuming you are a consistently profitable trader.
  • #10
  • Aug 31, 2006 5:50am Aug 31, 2006 5:50am
Going for 1% a day is not a good idea. Going for an average of 1% a day is something better.

You don't have to trade everyday.

I don't have a target. I think it's best to know how much you can loose, have a good system that's tested and the reward is good in time, and take as much as you can from the market. Don't stop @ 1% if it's not the time, stop @ 0% if your system is telling you it's time.

Are you talking about 1% from the original account? Because it's possible that after 100 days you have doubled your accout. Do you want to make 1% from the new amount wich is 2% from the original?

But to answer your question, yes, i think 1% / a day in average is possible.
Try hard, think fast, die young
  • #11
  • Aug 31, 2006 10:48am Aug 31, 2006 10:48am
I'm sorry guys but I just don't get this "x"% / Day target.

I know a few of my most recent posts to the board have been, shall we say, rather cryptic. So on this point I will try to be more direct.

I have mentioned before that while Training New Traders I gave them a Daily Desk Limit. Win it or Lose it and your day is done. No More Trading. Review the day.

That was fine in the very early days of their Trading as it was intended not so much to put a Limit on their Gains/Losses but more to put a limit on how long the leash on their Emotions was.

I was more concerned about reading how they were handling it in their heads. I truly believe that if you are still Trading 5 years from now, you will look back to this point in your career and realize that "x"% / Day was a nice educational excercise but should not be a Pillar of your House.

If you set a Target of x, how will you Trade when you are at x - (x*0.25) or x - (x*1.75)?
That should Not be a factor in your Trading as it may Force you into a Trade. {this is when I really started observing them}

If you set a Target of x, how will you Trade when you are at x + (x*0.25)?
Are you going to close up shop and go home for the day. Maybe. You certainly deserve it. Or are you again going to force trades just to see if you can double x. Again I say that should not be a factor in your Trading.
What if Yesterday you Lost x? Do you then Mentally set todays Target at 2 * x? That's even worse.

If your head is in the Game, Play the Game. When you get tired or too emotional, Stop & Then Count the Pips.

The rub, of course, is being correct when you Think your head is in the game.

"I'm only 25 pips away from my Daily Target."
To me at least, this is the worst reason out there to either get in a trade or stay in a trade.

Honestly folks, I'm not trying to shatter anyone here. Only trying to help.

B
  • #12
  • Aug 31, 2006 10:53am Aug 31, 2006 10:53am
check out this thread for comments on this x% per day stuff..
http://www.forexfactory.com/forexfor...ead.php?t=3338

in short, x% per day is naive thinking.
Relax and be happy.
  • #13
  • Edited 11:09am Aug 31, 2006 11:05am | Edited 11:09am
I think a big difference is in the style of trading too... someone using 400:1 leverage (or 200:1) might say that even 50% a month is not difficult... but I suspect many of those people would have difficulty achieving the same results at 100:1 or 50:1.

And once your account would grow to a certain size then 200:1 and higher is no longer an option usually, as it would severely restrict your choice of brokers.

I mean at 200:1 and higher you could rely on only doing a few trades a month. At 100:1 or higher probably you would have to do more than a few to do this anywhere near consistently.
  • #14
  • Aug 31, 2006 11:13am Aug 31, 2006 11:13am
I think not a lot of people quote themselves. But bear with me.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

First Thanks for all replies. It is really helpful.<o></o>

<o></o>

I meant 1% average per day. I will look @ my account in Christmas time and do the following simple math: -<o></o>

Annul Growth % = (Current Balance - Starting Fund) / (Starting Fund) %<o></o>

Average % per day = (Annul Growth %) / (300 days) = hope to be 1%.
<o></o>
My stratgy Ver 3.0:- <o></o>

I am planning to trade 300 days per year<o></o>

I am planning to set Stop Lose Limits to 0.5 % and Gain Stop Limit to 2~2.5 % (not sure)<o></o>

Hoping I will get 75% wining trades and 25% losing trades.<o></o>

I did the math based on this planning, and get 1% Daily Average.<o></o>

<o></o>

So, the button line.<o></o>

- Could I get 75% wining trades and 25% losing trades?<o></o>

- Is it realistic to set Stop Lose Limits to 0.5 % and Gain Stop Limit to 2~2.5 %<o></o>

Thanks
  • #15
  • Aug 31, 2006 11:21am Aug 31, 2006 11:21am
Quoting dof
Going for 1% a day is not a good idea. Going for an average of 1% a day is something better.

You don't have to trade everyday.

I don't have a target. I think it's best to know how much you can loose, have a good system that's tested and the reward is good in time, and take as much as you can from the market. Don't stop @ 1% if it's not the time, stop @ 0% if your system is telling you it's time.

Are you talking about 1% from the original account? Because it's possible that after 100 days you have doubled your accout. Do you want to make 1% from the new amount wich is 2% from the original?

But to answer your question, yes, i think 1% / a day in average is possible.
Average: yes. I didn't mention that in my post. You must not feel the need to trade every day. It is best to only trade when you are very sure of an entry. That may only come 1/week. Perhaps 1/2weeks. If you go 2 weeks without trading, yet find a really good trade and make 5% on your $1k... that is very very good. It would only be an average of 0.5%... but it was conservative and well managed. Most people lose at this game because of overleveraging and rushing to enter a trade. When I first started demo trading with FXCM a while back I took $50k and turned it into 22k in about 4 weeks lol! Just have to settle down and pick your spots.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #16
  • Aug 31, 2006 11:28am Aug 31, 2006 11:28am
Quoting Houd
I think not a lot of people quote themselves. But bear with me.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

First Thanks for all replies. It is really helpful.<o></o>

<o></o>

I meant 1% average per day. I will look @ my account in Christmas time and do the following simple math: -<o></o>

Annul Growth % = (Current Balance - Starting Fund) / (Starting Fund) %<o></o>

Average % per day = (Annul Growth %) / (300 days) = hope to be 1%.
<o></o>
My stratgy Ver 3.0:- <o></o>

I am planning to trade 300 days per year<o></o>

I am planning to set Stop Lose Limits to 0.5 % and Gain Stop Limit to 2~2.5 % (not sure)<o></o>

Hoping I will get 75% wining trades and 25% losing trades.<o></o>

I did the math based on this planning, and get 1% Daily Average.<o></o>

<o></o>

So, the button line.<o></o>

- Could I get 75% wining trades and 25% losing trades?<o></o>

- Is it realistic to set Stop Lose Limits to 0.5 % and Gain Stop Limit to 2~2.5 %<o></o>

Thanks

Very nice calculation and planning , but it need a good trading strategy, do you mind to share your trading strategy?
  • #17
  • Aug 31, 2006 3:08pm Aug 31, 2006 3:08pm
Through, my pervious threads and the advices I received from the forum members, Kind of refine my simple trading strategy to get 300% annually with a decent trading strategy

- I trade 300 days a year
- I get 75% wining trades and 25% losing trades
- I set Stop Lose Limits to 0.5% and Gain Stop Limit to 2%
Do you see the under line number are realistic?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

Do you see by those numbers, I could go somewhere?
Thanks
  • #18
  • Aug 31, 2006 3:17pm Aug 31, 2006 3:17pm
Quoting Houd
Do you see by those numbers, I could go somewhere?
Thanks


Is that a streadgy/system you useing, or asking if system like that can generate you profit; Or?? cause im not sure what you are trying to ask.
There are those who know, and there are those who don't know.
  • #19
  • Aug 31, 2006 3:37pm Aug 31, 2006 3:37pm
I am trying to see if I had a decent startegy (not very technical with few charts and indecators) could i got some money from Forex.

Like asking what could the average Joe get from ForeX ?
I perfer not have "It depends" answers
As i said for average Joe ??
  • #20
  • Aug 31, 2006 3:47pm Aug 31, 2006 3:47pm
There has been some confusion determining what you are asking. Maybe you could take a moment and lay out what your objectives are and what you already have to achieve them and what you need... That might help in the discussion...



Quoting smjones
I am sorry, but this is just a repeat of the other 3 thread starts... Unless there is some reason, I will merge this on with the others, so the responses are easy to locate...

Thanks Scott

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