Is it easy to make a lot of money?

Your comments are well thought out and constructive.

I mean that sincerely, and that's probably my last post of the day on t2w because a) I need to get home to my kids and b) I feel as though I've made too many negative comments recently, and it's not my style.
 
MetaDaniel said:
please tell me where i can find systems that makes me 2%. Do you recommend any good EA?
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Systems don't make 2% a day (or whatever %) - you must make the 2% a day. Take full responsibility for all your actions and results. You can't take credit when you win and blame the system when you lose. When I started doing that it made a big difference.

Use a system, or don't, but find something that works, stick to your rules, put in the time and effort, and maybe you will start earning a consistent income. I still think 2% is a little low, but it's not bad to aim for it you're currently getting 0%.

Good luck - hope you find something.
 
MarketMoverTrader said:
Systems don't make 2% a day (or whatever %) - you must make the 2% a day. Take full responsibility for all your actions and results. You can't take credit when you win and blame the system when you lose. When I started doing that it made a big difference.

Use a system, or don't, but find something that works, stick to your rules, put in the time and effort, and maybe you will start earning a consistent income. I still think 2% is a little low, but it's not bad to aim for it you're currently getting 0%.

Good luck - hope you find something.
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2% a day is a "little low"? Now I've heard everything...

MarketMover, can I ask what kind of drawdown you might come across whilst aiming to increase your equity by 2% a day, or is it simply +2% a day forever?
 
Nobody ever made 2% a day for as little as 1 year. A few people made a colossal anount of money from a couple of lucky once in a lifetime trades which come to the same thing but 2% a day, 250 times in a year, year after year? Never.
 
meanreversion said:
2% a day is a "little low"? Now I've heard everything...

MarketMover, can I ask what kind of drawdown you might come across whilst aiming to increase your equity by 2% a day, or is it simply +2% a day forever?
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No, I'm not talking about 2% a day - I was referring to 2% on any given day. I don't trade every day, but when I do it's for more than 2%, because I only trade high-impact economic announcements. Only getting 2% on these (win or loss) is difficult. I don't bother with opening my charts, planning my trade, preparing this and that - only for 2%. But if some people do, whatever. I don't.
 
Its a little hard to put a figure on what you will earn in a day. You take what the market gives. It doesnt care about your figures and it certainly doesnt care that your gas bill is so and so this quarter and you have to make that today. Be fluid like the market. I have very loose rules that would shock most people however I tried to conform to others expectations of how I should trade and it made me less of a trader.

As you trade you will become aware of one thing, certain days have certain characteristics. Have a few rules you set for yourself read through a few of the better posts and just have a go. As you go on you will learn what works and what doesn't until you find a way of trading that suits your personality. I hear many people saying they hate scalping as it gives them too much stress. I'm the opposite I love to scalp but get very stressed if I leave a position open overnight to the extent I have nightmares about the trade.

In conclusion following a system may be fine for those with OCD as they have a need to see the market conform to their perceptions but the market is organic. Following a tried and tested system will ensure your money is on the table last in most cases and by the time you take the trade the smart money got in and left before you.
 
Mr Flibble said:
Its a little hard to put a figure on what you will earn in a day. You take what the market gives. It doesnt care about your figures and it certainly doesnt care that your gas bill is so and so this quarter and you have to make that today. Be fluid like the market. I have very loose rules that would shock most people however I tried to conform to others expectations of how I should trade and it made me less of a trader.

As you trade you will become aware of one thing, certain days have certain characteristics. Have a few rules you set for yourself read through a few of the better posts and just have a go. As you go on you will learn what works and what doesn't until you find a way of trading that suits your personality. I hear many people saying they hate scalping as it gives them too much stress. I'm the opposite I love to scalp but get very stressed if I leave a position open overnight to the extent I have nightmares about the trade.

In conclusion following a system may be fine for those with OCD as they have a need to see the market conform to their perceptions but the market is organic. Following a tried and tested system will ensure your money is on the table last in most cases and by the time you take the trade the smart money got in and left before you.
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Good post, Mr Fibble, that sums everything up. I've come to the same conclusion, too, and take little notice of a poster's main plan. It is what ideas they let drop and from which we can benefit by improving our own, that interest me more.

I've thought, many times, of trying to set out what I do but it is so full of argumenative points that I can see the difficult questions arising that I may not be able to answer, so I let it go. In the final analysis, it is the traders own personality that will dominate his style. Can he change that or, more importantly, should he change it?
 
You're cracking me up. think your ego is getting in the way of common sense. If you make 2% everyday, then you will make 17,220% in one year.
There are so many mathematical variables involved with making 2% everyday. Yet, it is practical to make 50% per month. I made 6% today (Still Monday here in the States.), but it is not practical to think I'll make that every day. Forex abounds with many trading opportunities on a daily basis, but that does not mean even the best of traders take advantage of them. I am a day to swing type of trader. I've been in trades where they have gone against me, adn then I have to wait for its return. While I'm waiting, I have to do one of two things-- wait for it to turn around, and that means, most likely 0% that day. The other option is throw more money at my account, so I can continue trading while I wait for the bad apples to ripen.
Yet, getting that 50% in one month is much more practical, because the above scenario will turn around in less than a month. If anything, if the optimum S or level was entered, and then it gets taken out, price action will eventually gravitate back close to that point, and the trade can be taken out for a small loss.
BTW Market Mover. Instead of trying to move the market, try moving those bones out of bed. Do it for a whole year. 2% is so easy for you. I'm sure you'll love making 17,220%. Just start off with $1,000, and you can have $17 million in one year.
BTW, 40% is better than 10-20%, but we are talking everyday reality. Also, no one is getting snowed here. You don't just fall out of bed, plunk yourself down in front of your computer 10 minutes per day, 6 days per month, and make bundles of cash. Sorry. Good try.
Trading is not for lazy people. It is for people with a disciplined work ethic.


MarketMoverTrader said:
I wouldn't get out of bed for 2% a day. 10-20% is better.
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Apparently you make all your money from major economic numbers/releases, yet you don't know what NFP stands for...please!!! And if things go bad on NFP, you get out for a tick loss, behave yourself sir!
 
4xpipcounter said:
You're cracking me up. think your ego is getting in the way of common sense. If you make 2% everyday, then you will make 17,220% in one year.
There are so many mathematical variables involved with making 2% everyday. Yet, it is practical to make 50% per month. I made 6% today (Still Monday here in the States.), but it is not practical to think I'll make that every day. Forex abounds with many trading opportunities on a daily basis, but that does not mean even the best of traders take advantage of them. I am a day to swing type of trader. I've been in trades where they have gone against me, adn then I have to wait for its return. While I'm waiting, I have to do one of two things-- wait for it to turn around, and that means, most likely 0% that day. The other option is throw more money at my account, so I can continue trading while I wait for the bad apples to ripen.
Yet, getting that 50% in one month is much more practical, because the above scenario will turn around in less than a month. If anything, if the optimum S or level was entered, and then it gets taken out, price action will eventually gravitate back close to that point, and the trade can be taken out for a small loss.
BTW Market Mover. Instead of trying to move the market, try moving those bones out of bed. Do it for a whole year. 2% is so easy for you. I'm sure you'll love making 17,220%. Just start off with $1,000, and you can have $17 million in one year.
BTW, 40% is better than 10-20%, but we are talking everyday reality. Also, no one is getting snowed here. You don't just fall out of bed, plunk yourself down in front of your computer 10 minutes per day, 6 days per month, and make bundles of cash. Sorry. Good try.
Trading is not for lazy people. It is for people with a disciplined work ethic.
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I agree with everything you're saying. I'm just talking about my particular approach. I'm very busy so I do get out of bed, but not for trading - I run a business. I never said 2% a day, every day, was possible. I don't trade every day, but when I do I don't bother setting everything up and preparing my strategies etc. for 2%. I don't take any trade where I don't think I'll get at least 10%, but I don't always win of course - makes sense so far right? I put a lot of effort and time into learning and preparing (far more time than I actually spend trading). Often at 6am or up to midnight to learn and prepare what I need- lazy you say? And the fact is my trading results have been good, love me or hate me as a lot seem to do), that is the fact of the matter. So far this month: 10 trades, 8/10 wins, no more than 10 mins a trade, up 76.76% You have to admit, that is not bad. Or maybe to seasoned traders it is bad, but I'm happy and that's all that matters. And no, that's not dumb luck - I've been consistent since I started, albeit only earlier this year. So as you see, I'm also 'talking everyday reality'.

Let me put this in for added 'luck' :clover:
 
JRP2891 said:
Apparently you make all your money from major economic numbers/releases, yet you don't know what NFP stands for...please!!! And if things go bad on NFP, you get out for a tick loss, behave yourself sir!
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You need to go back and find my reply to that original post - I thought he was referring to NFP in another context. Yes, I know that NFP is an acronym for non-farm payrolls, not very difficult.
 
MarketMoverTrader said:
As long as we're posting pointless insulting comments: I know you are but what am I?
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If you're still here after a year making money (not from your vendor business of blind leading the blind), i'll take back my insult.

10-20% a day?? Please do not spout this cr@p here.
 
JRP2891 said:
If you're still here after a year making money (not from your vendor business of blind leading the blind), i'll take back my insult.

10-20% a day?? Please do not spout this cr@p here.
Click to expand...

Oh wow, thanks. So the insult come standard for joining in the forum discussion and you’ll be so kind as to revoke it if I’m still successful after a year. Is this what true traders like yourself have to do – prove yourself for a full year before you get to such a level that you don’t get insulted? What do you have to do to get a compliment, make 100% a month for 2 years? Anyway, it’s a deal - see you in a year. Why not just admit I didn’t actually do anything to you and take it back anyway, not that I care either way.

I don’t know what ‘blind leading the blind’ you’re going on about. I’m not following anyone blindly, nor am I asking anyone to follow me. I think you’re confused about something there. It’s nothing to do with my business - I'm just using a particular system, and I haven't told anyone else that they should, have I? I’m also not sure why you say it's cr@p, I made 25% on Friday, and another 13% on Consumer Confidence today, but didn’t trade yesterday at all. I have only made 11 trades this month.

You must understand that I'm not saying I go for 10-20% EVERY DAY, but it's a common occurrence on the days I do trade. I'm talking about trading futures, not forex or stocks or whatever else. Maybe you’ve never experienced trading eminis? I don’t know. My trading style is to go for single points (10% ROI per point) on the eminis. If you’re offended by that, I really don’t know what to tell you.

Maybe you simply don't believe me? I don't really mind if you don’t, but I’m not sure why you would think I'm lying about it. I understand if you’re not exactly congratulating me for my success only over a 5-month period, it’s not a long time, and I haven’t asked for anything from you anyway. But I really don’t know why you feel the need to berate me. Okay, so you think I’m ‘a joke’ – I’m laughing with you in that case. In a year either it’ll just be you or me left laughing. I hope it’s me, maybe it’ll be you.

And I made a video of my trading style, which proves that I'll always be a better trader than you.

 
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