Full time trading does it really pay

This is a discussion on Full time trading does it really pay within the General Trading Chat forums, part of the Reception category; Originally Posted by fayalac i could, but i wont. If i do i would be giving these guys the insigth ...

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Old Jan 22, 2011, 7:21pm   #256
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Re: Full time trading does it really pay

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Originally Posted by fayalac View Post
i could, but i wont.
If i do i would be giving these guys the insigth s of the method, i would never loose 1,000 pips before reacting, you think i have never faced a sudden trend change?, of course i have but i have won even at those situations, and i will keep winning.
Let them talk, i will not erase their dreams, their world has to be filled of loosers because that is the way they can explain themselves their results.
I already said what i had to, i told them they can win as many pips as they want to win, they can manage their risks, the rest depends on them.
Thank you Fayalac. That response is perfectly adequate and it was more or less what I was expecting. I'm fairly sure I now understand what is going on.
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Old Jan 22, 2011, 7:23pm   #257
 
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Re: Full time trading does it really pay

You are still wrong.
Mexico city is worse than london, you´re rigth, but any of those cities are a ****hole in any sense, i perfectly know both cities.
And i do not live in mexico city.
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Old Jan 22, 2011, 7:28pm   #258
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Re: Full time trading does it really pay

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You are still wrong.
Mexico city is worse than london, you´re rigth, but any of those cities are a ****hole in any sense, i perfectly know both cities.
And i do not live in mexico city.
Ok ok. This is not the point. The point is. Risking 0.3% doesn't relate purely to the trade size and account value. It relates to the trade size and stop distance and account value. It's not like risk is subjective. It's straight forward. Noone will take you seriously if you don't understand this.
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Old Jan 22, 2011, 7:34pm   #259
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Re: Full time trading does it really pay

Why do some people find it so hard to define their risk per trade? I suppose if you're not using stops it becomes a little problematic.

Irrespective of how he reports it, I'm struggling with the $5k account balance thing after years of making 30%+ a week.

You know, it is entirely possible that fayalac is an awesome trader. Given enough traders, one of them could get very lucky, although that STILL doesn't explain the small account size after such a lengthy period of incredible performance. (and I use that adjective literally - incredible = not credible)

I look forward to being sworn at!
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Old Jan 22, 2011, 7:42pm   #260
 
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Re: Full time trading does it really pay

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why do some people find it so hard to define their risk per trade? I suppose if you're not using stops it becomes a little problematic.

Irrespective of how he reports it, i'm struggling with the $5k account balance thing after years of making 30%+ a week.

You know, it is entirely possible that fayalac is an awesome trader. Given enough traders, one of them could get very lucky, although that still doesn't explain the small account size after such a lengthy period of incredible performance. (and i use that adjective literally - incredible = not credible)

i look forward to being sworn at!
well, i have an ex, two daugthers in college and my fiancee, and i also like to live in a good way, i am not weird for that, simply i have too many expenses.
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Old Jan 22, 2011, 7:46pm   #261
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Re: Full time trading does it really pay

Fair enough. So just to clear things up, if your account is $5k, how many $ would you anticipate making a week, and what is the worst $ loss you've taken on a single trade?
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Old Jan 22, 2011, 7:48pm   #262
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Re: Full time trading does it really pay

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Originally Posted by meanreversion View Post
Why do some people find it so hard to define their risk per trade? I suppose if you're not using stops it becomes a little problematic.

Irrespective of how he reports it, I'm struggling with the $5k account balance thing after years of making 30%+ a week.

You know, it is entirely possible that fayalac is an awesome trader. Given enough traders, one of them could get very lucky, although that STILL doesn't explain the small account size after such a lengthy period of incredible performance. (and I use that adjective literally - incredible = not credible)

I look forward to being sworn at!
Yea. If i was making 30%+, or according to him at least 300 pips, which according to his calculations is 90%. 90% at least for the last 6 months. On a 1$ account is roughly 17.7mio $
Yea sure. Even 30% a week on a 5k$ account means he should have over 4.5mio $.
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Old Jan 22, 2011, 7:58pm   #263
 
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Re: Full time trading does it really pay

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fair enough. So just to clear things up, if your account is $5k, how many $ would you anticipate making a week, and what is the worst $ loss you've taken on a single trade?
i anticipate i will win a week at least 1,000 pips but that is something i really dont know. I learnt many years ago that i will not force the markets to give me something they can not offer, so i start the week setting the way at which i will be searching for my opportunities and the rest is to wait untill the chance shows up, when it does, then i start analyzing my s/r to foresee how many pips i can get from that specific trend, these is why when the chance shows up i have a very high probability to profit from it.
The worst loss i have taken in a single position is about 350 pips
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Old Jan 22, 2011, 7:59pm   #264
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Re: Full time trading does it really pay

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i anticipate i will win a week at least 1,000 pips but that is something i really dont know. I learnt many years ago that i will not force the markets to give me something they can not offer, so i start the week setting the way at which i will be searching for my opportunities and the rest is to wait untill the chance shows up, when it does, then i start analyzing my s/r to foresee how many pips i can get from that specific trend, these is why when the chance shows up i have a very high probability to profit from it.
The worst loss i have taken in a single position is about 350 pips
In pure dollar terms, forget pips.

How many dollars would you expect to make a week? Or what is your average dollar profit per week?
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Old Jan 22, 2011, 8:01pm   #265
 
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Re: Full time trading does it really pay

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yea. If i was making 30%+, or according to him at least 300 pips, which according to his calculations is 90%. 90% at least for the last 6 months. On a 1$ account is roughly 17.7mio $
yea sure. Even 30% a week on a 5k$ account means he should have over 4.5mio $.
i never said i was making 90% a week.
I said i am making from 30 to 60% a week according to my last year performance, it results from the amount of pips i win each week wich ranks from 1,000 to 2,000.
If i had no need to withdraw money from my account, you´re rigth i would be millionaire, but there are things i have to pay, when my bussiness doesnt give me enough to do it, then i have my accounts income to face my expenses.
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Old Jan 22, 2011, 8:06pm   #266
 
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Re: Full time trading does it really pay

These week i had a little less than 2,000 and i finished with 2.732, that is what i will start next week with.
Why little less than 2,000?, because i just paid my daugthers college which was a big amount in dollars.
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Old Jan 22, 2011, 8:08pm   #267
 
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Re: Full time trading does it really pay

My averge profit per week in dollar therms is from 1,500 to 2,500
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Old Jan 22, 2011, 8:08pm   #268
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Re: Full time trading does it really pay

So you started with $2,000 and finished with $2,732?

That's 35% or so, nice return. And you've not had a down week in the last 52 weeks?
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Old Jan 22, 2011, 8:09pm   #269
 
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Re: Full time trading does it really pay

No, i havent
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Old Jan 22, 2011, 8:11pm   #270
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Re: Full time trading does it really pay

Is there not a risk you suffer material damage to your account for an unexpected event?
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