alan5616
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I can pretend to be a nutter:clap::clap::clap:
Any success stories from retail traders?
- Thread starter JohnnyForex
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I can pretend to be a nutter:clap::clap::clap:
oildaytrader
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PROVE IT!
First you have to open as many threads as the hairs on your head.
Then devise a new unique method of beating the market , and show it to us.
O D T
alan5616
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That's a bit of a challenge, insofar as the hairs on my head are concerned. That would leave me very threadbare!!!
My super duper method is to toss a coin and take Longs when a head shows and Shorts when it comes up tails. Trade with a 5 pt SL and let the winning trades run to 2,000 pts before closing. It's an absolute winner. Well it was until I woke up the next morning
advfntrader
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I've given up trading. it can't be done. period
oildaytrader
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The market is dynamic like a spinning roulette wheel. I decided I am gonna beat the market ,once and for all and I will cut its gollies for ever.Here I come!
O D T
MORGZTRADER
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Surly if you were good at trading you would just increase your lot size rather than it being about liquidity? What difference does it make? if your a bad trader surly liquidity and increased lot sizes cant make you money?
MORGZTRADER
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is 25 a day achievable?
Not by you maybe.
alan5616
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It can be done; it is being done.
I don't like to hear of people throwing in the towel. It's a tough journey and like many other businesses, it requires knowledge and application. If you want to PM me, I'll do my best to help.
episteme
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I turned 4k into 30k in a few months. Took out £25k to buy a new car. Then I blew the £5k I left in on a big gamble - hoping to make the 25k back in one go.
After a week break I have just stuck another 3k back in the trading account - back to working it up again - but with max £500 losses again. Aim is 250-500 a day profit.
Not quite a rags to riches - but it's a good start and proves that money can be made at this game.
After a week break I have just stuck another 3k back in the trading account - back to working it up again - but with max £500 losses again. Aim is 250-500 a day profit.
Not quite a rags to riches - but it's a good start and proves that money can be made at this game.
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montmorencyt2w
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advfntrader
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what sort of method do the successful guys use then ?
Presumably you mean 'can be made consistently'. Unfortunately it doesn't prove that. In the average group of traders starting out with 4k there will be a few who make 30k through luck. You may feel you made some good decisions, but I'm afraid luck is likely to have played a big part. The 5k loss (100% risk) doesn't mark you down as someone with a consistent disciplined approach.
You're now looking to make around 10% per day, risking 16% at a time. Just have a scout around at trading discipline and risk, and you'll see that if you can do that for a year you'll be one of the best traders in the world. Statistically, 16% risk will see your 3k wiped out in less than 50 trades, and quite possibly in 6-20.
Not trying to have a go at you here - just explaining some of the reaction you might get.
virtuos0
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You're going to ignore this advice of course, but you should really stop trading. All you have done is gambled and beat the house. If you carry on gambling the house will win and you will find yourself back at zero. Cashing in your winnings and turning it into a real asset was a smart move.
Reversion to the mean is a cruel mistress.
Both Xeno and virtuos0 are correct of course. However if I was as under capitalised as episteme I would probably take on some large risks as well to try to build my capital. As he managed to get to 30K though I would have thanked my lucky stars at that point, reduced my risk to 2% of capital and carried on trading. Ar least he has a car to show for it though which is better than most.
I'll stick to my 1% risk on any single trade though. I would prefer to get that down to 0.5% in time if possible.
I'll stick to my 1% risk on any single trade though. I would prefer to get that down to 0.5% in time if possible.
mb325
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Im making about 30+ on average, surly its better to make more??
If you are consistently profitable then it doesn't matter what your pip count is...who would you rather be, the guy averaging 200 pips a day with 1 lot, or the guy averaging 30 pips a day with 10 lots.
