Faris
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winod said:
Hello Winod.
Your going find the question you have asked will be to sensitive for most people to answer.
I trade the Forex market and don't look at the amount of £'s i make for each day or month as i find that distracting. I only concentrate on the points I make as I like to keep my mind completely focused when i trade.
Currently im averaging just above 65 points a day trading the FX market
Faris..
TheBramble
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Nowehere near as much as those superior b*stards claiming a 70+% W:L....but enough to pay the bills...and a little bit more. Does that answer your question or are you looking for absolute amounts? If it's the latter I doubt many will be prepared to say. Groetjes.winod said:
The two of you thanks for you reply.
Everyone must have to know that behind every question or message is an moral. What I like too find out with my question is too see if the people amoug us are an honest, a good, emotionally ect. trader.
So I will give one moral that I find in my own question.
10% of the daytraders makes a profit and is a winner in trading, 90% is losing his money.
Maby you know understand my strange question a bit more now.
The both of you have given a excellent answer. Thanks. Groetjes ook terug aan jou Bramble.
Please forgive my bad english. But know that daytrading is surly a profitable thing. But stay looking for the best , and don't buy yourself poor to things that is not working.
ciao you all.
Everyone must have to know that behind every question or message is an moral. What I like too find out with my question is too see if the people amoug us are an honest, a good, emotionally ect. trader.
So I will give one moral that I find in my own question.
10% of the daytraders makes a profit and is a winner in trading, 90% is losing his money.
Maby you know understand my strange question a bit more now.
The both of you have given a excellent answer. Thanks. Groetjes ook terug aan jou Bramble.
Please forgive my bad english. But know that daytrading is surly a profitable thing. But stay looking for the best , and don't buy yourself poor to things that is not working.
ciao you all.
any fool can make a profit , but at what risk ?
if I go long the dow @ 10100 and hold and hope and have no risk control , in 3 months time , only 2 thngs can happen : I go bust if I can't meet the margins or I win a lot of money . In other words , a gamble . if so , why trade ? better to play the horses or something as easy .
so the question is incomplete , it should include how much risk is taken for the profit returned.
if I go long the dow @ 10100 and hold and hope and have no risk control , in 3 months time , only 2 thngs can happen : I go bust if I can't meet the margins or I win a lot of money . In other words , a gamble . if so , why trade ? better to play the horses or something as easy .
so the question is incomplete , it should include how much risk is taken for the profit returned.
wisestguy said:
Wisestguy
I think you may have missed the point, Winod asked how much people make daytrading each month, not hold and hope.
in answer to the question, the other posters are right, I can't see anyone divulging what cash they make.
I unfortunately cannot match 65pips per day, but also trade forex, and aim for a more conservative 20pips per day. Being completely honest, I've only been trading forex for only a couple of months working up from £1, currently meeting daily targets, and now up to £4. Aiming for £10 by the turn of the year at which time it starts to look like an income.
Is anyone else prepared to be this honest????
Dave
One must accept the fact that different people have different risk/reward ratios. It is the end result that really matters. I know a few 'Professional Gamblers' that make a very decent living but, they are very good at it and disciplined. If an individual were to simply open a position and leave it open, he/she would turn a profit in most trades provided they have unlimited resources. However, Winod was not asking about living in 'Wonderland'.
I echo the views expressed above which is that most people will not divulge personal information (I fit the bill). Lifestyles are different and that is what determines/dictates the level of profits the individual looks for. I came across a chap who quit his £200 per week job and took up trading; how much would he be happy with?
I echo the views expressed above which is that most people will not divulge personal information (I fit the bill). Lifestyles are different and that is what determines/dictates the level of profits the individual looks for. I came across a chap who quit his £200 per week job and took up trading; how much would he be happy with?
wisestguy said:
Point taken, but I do not hold and hope and apply my own risk management rules. I have my criteria for entering a trade which is based on my knowledge and experience (which I am not suggesting is vast) and often take a safe lower profit exit than is often available by hanging in longer, in accordance with my little and often rule. (any day in the black is better than a day in the red however marginal)
I would not therefore consider myself a gambler any more than any other trader on these boards. Do you?
Dave
Dave,
I agree with the posts that you made and you are certainly not advocating gambling and neither am I. Unfortunately, Wisestguy disagrees with both of us and thinks that the financial markets are a gamblers' den.
My strategy is based on the premise that 'little fish are sweet'. Would you agree that an individual that avoids losses will definitely make money and thus stay ahead of the crowd?
I agree with the posts that you made and you are certainly not advocating gambling and neither am I. Unfortunately, Wisestguy disagrees with both of us and thinks that the financial markets are a gamblers' den.
My strategy is based on the premise that 'little fish are sweet'. Would you agree that an individual that avoids losses will definitely make money and thus stay ahead of the crowd?
never called anyone person a gambler , but there are definitely many gamblers in the markets , as there are in any other playable field.
I will stand by that for sure.
even many so called top " pro traders " I would put in the gambling bracket including Vic Niederhoffer . go read the excerpts from his book and you will see him not only holding , but holding and PRAYING on a long yen short $ position .
guess what happened to him - he's bust .
I will stand by that for sure.
even many so called top " pro traders " I would put in the gambling bracket including Vic Niederhoffer . go read the excerpts from his book and you will see him not only holding , but holding and PRAYING on a long yen short $ position .
guess what happened to him - he's bust .
You are so right. That is why very few traders make money. I have always believed that by avoiding the errors the speculators/gamblers make, the serious trader has a very decent chance in the long run. You seem like one of those that subscribes to the 'Hare and the Tortoise'.
I don't know about a hare or a tortoise, but I definitely have no respect for hard core gamblers , certainly not in the markets .
that's why I feel Vic let himself down so badly. in the excerpts , he says things like
" come on , come one , I pary to you oh mighty yen , land of hard working people , come on !! " , whilst holding a losing yen position w/o stoploss.
YUK , no thanks , and to think this guy was handling 100's of millions .
also a lot of people are gamblers and they don't even know it !
that's why I feel Vic let himself down so badly. in the excerpts , he says things like
" come on , come one , I pary to you oh mighty yen , land of hard working people , come on !! " , whilst holding a losing yen position w/o stoploss.
YUK , no thanks , and to think this guy was handling 100's of millions .
also a lot of people are gamblers and they don't even know it !
wisestguy said:
Beggin' yer pardon Guv, but I think all speculators are gamblers.
It's just that some of us like to control the risks. The level of control necessary depends on resources available.
Personally I wouldn't dream of betting on the horses or doing the Pools.
I still however believe that I am gambling with the financial markets.
axthree said:
OK , geezer ,
well we are getting to the realm of labels and who uses what label .
my definition of a gambler on the markets is primarily someone who has no risk control , and basically treats the market no different to a casino table.
