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Profit 1% a day 300 % a year

  • #41
  • Aug 31, 2006 7:50pm Aug 31, 2006 7:50pm
you can definately make 1% a day.

i dont think you can make a 75% winrate with 4 to 1 profit / loss ratio though.
  • #42
  • Aug 31, 2006 8:03pm Aug 31, 2006 8:03pm
Quoting Houd
We have 2 groups.<o></o>

Group "A" said that it is totally unrealistic to get average 1% a day (whatever pips it is). So the question for them<o></o>

WHAT IS THE RELISTIC NUMBER?

Group "B" said that it is possible to get average 1% a day using money management.<o></o>

If we could knew what is the realistic from Group "A", then may be the Average is something between "A" and "B"
How long is a piece of string??? Group A could be up 10% one day down 20% the next. The answers you'll get I suspect range from 'i lost 100%' to I've made 0.09% etc....
  • #43
  • Aug 31, 2006 8:17pm Aug 31, 2006 8:17pm
Quoting Houd
The X% is not my target.
I would like to find if X% i got from Forex will cover my Y% expences + Z% reterimnet + W% Saving for rainny days, or the whole Forex makes no sence.
Reverse engineer your question.
(w) Rainy days = $5000 per annum
(Z) Retirment = $30,000 " "
(Y) expences = $40,000 " "

Therefor X = $75,000 per year
Now, i have no idea what standard of life you want to maintain but the example stands that if you work it all out backwards you can then know your way forward.
  • #44
  • Aug 31, 2006 8:26pm Aug 31, 2006 8:26pm
Quoting Houd
We have 2 groups.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

Group "A" said that it is totally unrealistic to get average 1% a day (whatever pips it is). So the question for them<o></o>

WHAT IS THE RELISTIC NUMBER?

Group "B" said that it is possible to get average 1% a day using money management.<o></o>

If we could knew what is the realistic from Group "A", then may be the Average is something between "A" and "B"
houd, you are (understandably) searching for answers in this thread, but the answers dont matter because your quesiton is wrong. go, do some trading, you will learn. after 6 months you will come back to this thread and realize you had the game all wrong. just like we all have done.
Relax and be happy.
  • #45
  • Aug 31, 2006 8:40pm Aug 31, 2006 8:40pm
Quoting merlin
houd, you are (understandably) searching for answers in this thread, but the answers dont matter because your quesiton is wrong. go, do some trading, you will learn. after 6 months you will come back to this thread and realize you had the game all wrong. just like we all have done.
Agreed!

Forex is not the Math
  • #46
  • Aug 31, 2006 8:50pm Aug 31, 2006 8:50pm
Quoting merlin
houd, you are (understandably) searching for answers in this thread, but the answers dont matter because your quesiton is wrong. go, do some trading, you will learn. after 6 months you will come back to this thread and realize you had the game all wrong. just like we all have done.
I am not looking for math problem awnser.I am looking profesionls' experince answers.
My question is not wrong. Your answer is wrong and does not provide any justification like other answers.
Group "B" said average 1% is posible.
Group "A" said average 1% is not posible.
Some change thier opnion from A to B.
I am doing my home work, traying to figure out if i will tarde for few months wasting money and time, or at least get some.
Merlin, I do not believe that I should trade for 6 months and relize the game is wrong. I believe that i should ask the pros to get a decent idea about whatever i will face.
Merlin, My qouestion is not wrong. You did not justify your answer.
  • #47
  • Aug 31, 2006 9:00pm Aug 31, 2006 9:00pm
Try thinking of it like this Houd,

Some traders take months/years before they are profitable. We cannot give an answer that says "yes, practice for 6 months and you'll make 1% or 0.5% or 0.1% a day."

I don't think there's any average figure around about what a forex trader can reasonably expect to make. Either in a year or a day. It entirely depends on the individual, the amount of risk they are willing to take, their correct reading of the market, money management along with a whole host of other things.

I don't think anyone can give a definitive answer that if you have 10,000 you'll make x amount on that. The only person that can answer that is you. Perhaps you will make 1%, maybe you'll make 10%, who knows. but from the answers here you can see that the amount people think you should make are as varied as the days.

Hope this helps.
  • #48
  • Aug 31, 2006 9:07pm Aug 31, 2006 9:07pm
Houd,

You have the right idea. Ur doing your due dilagence about what you are getting into. My path was the same, I heard about the forex mulled it over for 6months before deciding to have a proper look. Then was lucky to find the FF when i began DD and haven't looked back since. I think anyone can make money at it but you will need to find your own path to success.

Whilst you are learning about the Forex, i would suggest you open a demo account and blow it up a few times, Metatrader is a good platform to use, but there are others. That way in 6 months time if you decide its not for you, the only thing u are out of pocket is the time you spent exploring your options.

Ademac
  • #49
  • Aug 31, 2006 9:11pm Aug 31, 2006 9:11pm
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


1% a Day?

Should an FX trader aim for a 1% daily growth? Good question, but only because the answer makes us realize how a successful trader really thinks. The percentage increase question is really post-period analytical question. In other words it's a question that is only worthwhile to the trader looking back at a period to see how well or poorly he has done.

The percentage increase question is not a plan. It doesn't help much to consider percentage increase as you set out to trade. Why is this the case? Well, it's due to the nature on FX trading. FX trade is a speculative art and not an investing science.

On the one hand, the bank on the corner does use the tools of investing science which are all about percentage increase from the beginning and to the end of a bank transaction.

On the other hand, FX trading is a speculative art because it's mostly about probabilities, not possibilities. A financial instrument that emphasizes percentage increase functions in the realm of possibilities. A financial instrument that emphasizes risk vs. reward functions in the realm of probabilities.

So how does this help you and me? The fact is that the traders who are most successful work on improving their skills and techniques to optimize risk vs. reward equation in their favor.
If we do this, the growth of the account balance will follow.

"You will be most profitable when you focus on what is most probable."
PipTips by Mark Olivero (copyright 2006)

May your pips have grandchildren.
  • #50
  • Aug 31, 2006 9:24pm Aug 31, 2006 9:24pm
Good luck Houd. Whatever you decide.

Why don't you ask Group B if They think You can do it.
  • #51
  • Aug 31, 2006 9:25pm Aug 31, 2006 9:25pm
Quoting ademac
Houd,

You have the right idea. Ur doing your due dilagence about what you are getting into. My path was the same, I heard about the forex mulled it over for 6months before deciding to have a proper look. Then was lucky to find the FF when i began DD and haven't looked back since. I think anyone can make money at it but you will need to find your own path to success.

Whilst you are learning about the Forex, i would suggest you open a demo account and blow it up a few times, Metatrader is a good platform to use, but there are others. That way in 6 months time if you decide its not for you, the only thing u are out of pocket is the time you spent exploring your options.

Ademac
Ademac,Ya i am planning to play with more than one demo accounts.But before that, I would like to get an idea about Forex.
If it is not for me, i will not even to think about openning a demo accounts.
That why i want your opnion.
  • #52
  • Aug 31, 2006 9:29pm Aug 31, 2006 9:29pm
I am not looking for math problem awnser.I am looking profesionls' experince answers.
But you are looking for math.

My question is not wrong. Your answer is wrong and does not provide any justification like other answers.
The answer or fact that you don't wish to heard

Group "B" said average 1% is posible.
Group "A" said average 1% is not posible.
Some change thier opnion from A to B.
Again, you are looking for math and seeking the answer that you want to heard.

I am doing my home work, traying to figure out if i will tarde for few months wasting money and time, or at least get some.
Merlin, I do not believe that I should trade for 6 months and relize the game is wrong.
Please trade your real account right now, the market need this kind of people to make contribution. thanks@!fsg34@#$23

I believe that i should ask the pros to get a decent idea about whatever i will face.
Merlin, My qouestion is not wrong. You did not justify your answer.
You are stubborn newbie, and don't listen others.
  • #53
  • Aug 31, 2006 9:31pm Aug 31, 2006 9:31pm
Quoting Money Talks
Try thinking of it like this Houd,

Some traders take months/years before they are profitable. We cannot give an answer that says "yes, practice for 6 months and you'll make 1% or 0.5% or 0.1% a day."

I don't think there's any average figure around about what a forex trader can reasonably expect to make. Either in a year or a day. It entirely depends on the individual, the amount of risk they are willing to take, their correct reading of the market, money management along with a whole host of other things.

I don't think anyone can give a definitive answer that if you have 10,000 you'll make x amount on that. The only person that can answer that is you. Perhaps you will make 1%, maybe you'll make 10%, who knows. but from the answers here you can see that the amount people think you should make are as varied as the days.

Hope this helps.
You are right.
I am trying to scale Forex (sure will not be accuret).
But at least to decide if it worth to spend more time to start-up this Forex project, or just do somthing elese (get MBA Yak!).
  • #54
  • Aug 31, 2006 9:44pm Aug 31, 2006 9:44pm
Quoting thiefnight
I am not looking for math problem awnser.I am looking profesionls' experince answers.
But you are looking for math.
My Qustion is Math, but i got math answers and non math answers.
If the answers express wide range of thoughts (math or non math) no problem. I get not bad idea about Forex.Now
Thanks for every one of you

Quoting thiefnight
My question is not wrong. Your answer is wrong and does not provide any justification like other answers.
The answer or fact that you don't wish to heard
If the annwer is "go, do it yourself" So why we are here seeking answers.

Quoting thiefnight
Group "B" said average 1% is posible.
Group "A" said average 1% is not posible.
Some change thier opnion from A to B.
Again, you are looking for math and seeking the answer that you want to heard.
Agian not.I would not suite one said you could make x% and i would not

Quoting thiefnight
I am doing my home work, traying to figure out if i will tarde for few months wasting money and time, or at least get some.
Merlin, I do not believe that I should trade for 6 months and relize the game is wrong.
Please trade your real account right now, the market need this kind of people to make contribution. thanks@!fsg34@#$23.[color=red][/color]
Soon

Quoting thiefnight

I believe that i should ask the pros to get a decent idea about whatever i will face.
Merlin, My qouestion is not wrong. You did not justify your answer.
You are stubborn newbie, and don't listen others.
You could be right, but in this case not sure
  • #55
  • Aug 31, 2006 9:46pm Aug 31, 2006 9:46pm
Quoting Bemac
Good luck Houd. Whatever you decide.

Why don't you ask Group B if They think You can do it.
Thanks for every one of you.
I will not ask this question. I will shut up and open Demo account for now.
  • #56
  • Sep 1, 2006 5:26am Sep 1, 2006 5:26am
Quoting Houd
I am not looking for math problem awnser.I am looking profesionls' experince answers.
My question is not wrong. Your answer is wrong and does not provide any justification like other answers.
Group "B" said average 1% is posible.
Group "A" said average 1% is not posible.
Some change thier opnion from A to B.
I am doing my home work, traying to figure out if i will tarde for few months wasting money and time, or at least get some.
Merlin, I do not believe that I should trade for 6 months and relize the game is wrong. I believe that i should ask the pros to get a decent idea about whatever i will face.
Merlin, My qouestion is not wrong. You did not justify your answer.
The straight answer is the best traders in the world can get way,way above your 300% target in a good year. The only problem is you aren't one of the best traders in the world. So what's average and realistic you ask - I'd say breaking even.

Your question has no answer, simply because it all depends on so many other things; how often you trade (10 trades a day vs 10 a months), how much you leverage, etc.

And if you think you're going to be profitable after 6 months it's best you hand your cash over to a money manager. Forex is not easy money, it is hard work, it is painfull, it is frustrating, and despite what people may say it is not simple.

Stop thinking about how much you can make and start thinking about how much you can lose.
  • #57
  • Sep 1, 2006 8:31am Sep 1, 2006 8:31am
Quoting faure
The straight answer is the best traders in the world can get way,way above your 300% target in a good year. The only problem is you aren't one of the best traders in the world. So what's average and realistic you ask - I'd say breaking even.

Your question has no answer, simply because it all depends on so many other things; how often you trade (10 trades a day vs 10 a months), how much you leverage, etc.

And if you think you're going to be profitable after 6 months it's best you hand your cash over to a money manager. Forex is not easy money, it is hard work, it is painfull, it is frustrating, and despite what people may say it is not simple.

Stop thinking about how much you can make and start thinking about how much you can lose.
I knew "it depends". I knew no one could give a number. But i get at least 10 different opinions some of those were optimistic and some of those were pessimistic. I knew that Forex is not like some other market/business where one could find almost all of people there are even dispirit.
  • #58
  • Sep 1, 2006 9:36am Sep 1, 2006 9:36am
Quoting thiefnight
Agreed!

Forex is not the Math
Well Forex is not math, but let's just say Math does have a lot to do about it...however, it's not about multiplying numbers and percents to determine how much you can gain...no, instead I think it's about probabilities and risk management. Those applied mathematics ARE important and should make up the bulk of ones thought process when trading.

I think it's extremely important to be aware of the probabilities of a trade BEFORE going into it. If you're looking to go short, you need to have in mind what target levels you want to hit...then based on past experience and a good understanding of what's going on around your price level, you should be able to compute the probability of your trade hitting your price target.

At the same time, you need to be accutely aware of the negative probabilities should you turn out to be wrong. What is the probability that my trade will hit the stop level.

finally, you need to be aware of the negative effects of a loss on your account. You need to be extremely accurate at determining what type of loss your account can handle based on your trade. If you're trading tight and expecting large gains, perhaps your account can handle more trades in this manner.

I think Forex is about a lot of mathematics. Even the psychological aspect can be improved by understanding the odds. If you like your odds, you'll trade with less fear. If you can't compute your odds or you can't compute them quickly enough...then you'll always trade in fear and hope.

Maybe it's just me.
  • #59
  • Sep 1, 2006 10:01am Sep 1, 2006 10:01am
Hey Folks, Not sure if this is the right thread for this post but I was wondering if someone would be willing to tell me how to throw Darts and hit the Bullseye 75% of the time. Or is it even possible?
TIA

Houd, I appreciate that it appears you have got the answer to your question {perhaps not the one you were hoping for but...} and that you are courteous enough to continue to reply to the responses you are receiving.

I just thought I would post the above because I think your initial mental response to the question is probably pretty close to, not only my, but a number of members mental response to your question. "Well yeah... But...

Hope you hang around, because it can be done. Within 6 months though...
Well that's another question.
  • #60
  • Sep 1, 2006 10:04am Sep 1, 2006 10:04am
Quoting Bemac
Hey Folks, Not sure if this is the right thread for this post but I was wondering if someone would be willing to tell me how to throw Darts and hit the Bullseye 75% of the time. Or is it even possible?
TIA

Yes, there is a three step approach to this...

1. Learn to play Darts
2. Practice all the time
3. Persevere
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