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Stats: 2,380,484 members, 5,308,542 topics. Date: Monday, 09 December 2019 at 03:04 PM
|Re: Forex Trade Alerts: Season 19 by Shevychen2: 6:19am On Jan 02|
Any amount is fine to build a statement. What matters is responsible and sustainable trading. 6 months can get you funding but 1 year+ is obviously more attractive.
Regarding your question, anything is possible.. However, what I said is the more common pathway to success. The number of people that close a trading year with any sort of profit in this industry is around 20% of the entire trading population. How many people among those do you think are making 100% every month, nevermind 1000% a week CONSISTENTLY? You can be certain it will be something like 0.01%.
5% a month is not the gold standard, in fact in December I got more than 3 times that figure even with my risk profile. Nothing is the gold standard.. What matters is how much risk you are taking to get the return. If you can find a way to risk 10% of your account only throughout the month and make 100% returns by all means fire on!
On Darwinex, there is someone that made 100%+ for himself in December in 50% VAR which translated to around 20% for investors. He is the only one that posts that kind of return, out of over 2500 strategies existing there, to close the year profitable. Others like him crashed. That's to show you how hard it is. However, that kind of trading also means huge swings in equity curve and some deep drawdowns. Investors know it is not good and are treating his trading with extreme care. His kind of account should have around $1m in trading investments but he is still on $100k.
It is possible to walk from Ikeja to Ogun State yet the best way to go down there is not by walking.
Every single person I know that made >$50,000 from forex last year had less than 200% return for the entire 2018 on their personal trading accounts. Money came as a result of either having their own 6 figure trading capital or other people's own. Admittedly, its a small sample group.
I know I am beginning to sound like a buzz kill to some people so I am going to stop preaching. Please I am not discouraging anyone from turning $200 to $10k or even $1m in a year or saying it is impossible. But the chances of STAYING CONSISTENT and succeeding with that plan is like 1:100000 so why bother going through the mental torture?
Everything is possible and there is no 100% fixed way to success but years of history and examples have shown us that some ways lead to disaster faster.
As for being able to switch from high risk/return to low risk/return, again it is possible.. But will the person be able to resist the urge to increase risk again in future? Also, if you have any plans of showing off that trading history to get investors, the past behaviour can discourage or make them very careful with you. This means pulling their investments once you have a 10% drawdown or less sef.
|Re: Forex Trade Alerts: Season 19 by harizonal123(m): 6:53am On Jan 02|
ayesco202:Yeah, a working plan just like a business plan. That's where educating ourselves comes in & %100 discipline to follow your plan.
To the newbies out there if you think you can just be playing kalokalo(gambling) with fx trading by not having a plan. Then I'm sorry to tell you this, forex trading is not for you. Just simply look for another business that will be profitable to you
|Re: Forex Trade Alerts: Season 19 by purleesh(f): 7:22am On Jan 02|
Hmnn..Going by the above does it mean Tunderr's 17% in 5days is very aggressive??
Cos she always draws my newbie Longathroat with her posts
|Re: Forex Trade Alerts: Season 19 by harizonal123(m): 7:47am On Jan 02|
purleesh:My sister, that's the bitter truth. Not sustainable at all in the long term. I don't fancy such cos we have to be honest and set realistic goals and targets with the long term in view. In 2019 I have made a resolution to work with %15 per month. Though I can make more than that if the market decide to bless me
|Re: Forex Trade Alerts: Season 19 by AwesomeDuru(m): 8:57am On Jan 02|
Tunderr:Thanks, I'm really grateful.
|Re: Forex Trade Alerts: Season 19 by Fxwarrior: 8:57am On Jan 02|
This post is inspiring. Some people trade forex while others invest in Forex. I believe the best market to invest in is a trending market and it calls for patience.
Check out the time bullbear made a buy gold call it was around 1238.00, not more than 3 weeks ago. Now its almost nearing 1288.00
That is 5000 pips in gold. Assuming you invested say 0.2 lotsize which is $20 per 100pips that is $1000 made you can take profit then and buy again for 5000 pips.
Need I tell you that perfect money currently sells at #345 which translates to #345 000. Baba o.
What am saying is let's look at long term picture sometimes instead of getting 100pips and losing 40pips out of fear.
|Re: Forex Trade Alerts: Season 19 by Fxwarrior: 9:14am On Jan 02|
As a matter of fact am done trading forex.
Sold GJ, EJ and bought gold. That's my January investment.
|Re: Forex Trade Alerts: Season 19 by rozayx5(m): 9:17am On Jan 02|
We preach the same message bro
Forex is no friend of small capital
If u wanna live on trading u need it big
I trade 5 figures and I can tell you the psychology at that level is different
I take max of 4 trades a month,picking trends on daily and charts and using 4hr and 1hr for entry
|Re: Forex Trade Alerts: Season 19 by femora007(m): 9:36am On Jan 02|
Tunderr:Thanks for sharing. What did u do to improve ur trading? when u say '' i'm way past this stage on my trading journey''
|Re: Forex Trade Alerts: Season 19 by hadedeji(m): 10:22am On Jan 02|
|Re: Forex Trade Alerts: Season 19 by BullBearMkt(m): 10:26am On Jan 02|
|Re: Forex Trade Alerts: Season 19 by purleesh(f): 11:10am On Jan 02|
15% a month is 180% a year! Plenty returns
|Re: Forex Trade Alerts: Season 19 by harizonal123(m): 11:29am On Jan 02|
purleesh:Lol! I don't have 100k like that dude whose account I posted . money has to be made & that's the smallest I can go
|Re: Forex Trade Alerts: Season 19 by harizonal123(m): 11:35am On Jan 02|
Shevychen2:Reading a book. Just thought this might interest u
|Re: Forex Trade Alerts: Season 19 by Sunnycliff(m): 12:52pm On Jan 02|
New will be the hopes and ambitions, new will be the settlements, new will be the spirits and fresh is that the year! Here is wishing that you’re adopted with a glorious one and fulfill all of your future endeavors with success and triumph.
Hope you scatter joy and pleasure where you move all 365 days of the approaching season and find the exact same in return. Happy New Year for you!
It's time for business. My target for this year is to have a minimum of $20000 .
It maybe seen as been over ambitious but am believing in my personal strategy developed from my cumulative trading experiences from 2008.
|Re: Forex Trade Alerts: Season 19 by Edd1e(m): 2:22pm On Jan 02|
Amen to that my brother.
|Re: Forex Trade Alerts: Season 19 by Nobody: 3:25pm On Jan 02|
I'll be careful with buying Gold. It is already at a resistance level.
|Re: Forex Trade Alerts: Season 19 by Hopium: 3:37pm On Jan 02|
You are right.
Gold may correct here.
I'm going short, but the macro outlook is bullish.
|Re: Forex Trade Alerts: Season 19 by GladmanGoddey: 3:41pm On Jan 02|
Happy New Year Trader!!!
Wishing you all the best in your trading. I have been a silent follower of this thread. Been learning for the past 4-6 months finally got my strategy will start to demo from mid January or early February. Will share my knowledge and participate more in this thread. Will also keep learning from our experience traders here to improve myself.
By the way is there any scalper or day trader here?
|Re: Forex Trade Alerts: Season 19 by Fxwarrior: 4:11pm On Jan 02|
Mention topsyn03 I think he's a scalper.
|Re: Forex Trade Alerts: Season 19 by Fxwarrior: 4:12pm On Jan 02|
Have you shorted?
|Re: Forex Trade Alerts: Season 19 by infofirst(m): 4:12pm On Jan 02|
Just any thing is possible in the world of forex trading. That you can not do 1000% in a month does not mean it is not attainable. All traders are not the same. Just try to identify your level and work hard and smart to improve over time.
The market repeat the same thing over and over again. Your reliance strictly on all sort of trading systems or indicators will not make you see beyond what the system is telling you. Make the raw charts your friend. A pair at a time and you will be like wow...Every new trading day is an opportunity to be a better you.
Emotion is another issue. Most traders are being controlled by their emotion. Until you are in charge, nothing new and different will happen in your trading.
If you know you know....
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|Re: Forex Trade Alerts: Season 19 by BullBearMkt(m): 4:56pm On Jan 02|
Oil may have found its bottom, now ready to rally or range...
|Re: Forex Trade Alerts: Season 19 by Hopium: 5:08pm On Jan 02|
I'm waiting for the daily close.
|Re: Forex Trade Alerts: Season 19 by Nobody: 5:14pm On Jan 02|
Anybody caught the beautiful sell off on GJ, GU and EU today? It threw in fake London Open buy to trap buyers before falling like a rock.
If you got caught up in the buy, hope you closed it fast enough to enter sell
I'm back to trading tomorrow. Jealous that a lot of beautiful move has gone down already, check out the beautiful printed M pattern (at the ADR high) on GU on Tuesday. That kind of trade is money in the bank for me, no 2 ways to it
Don't make it harder than it already is, if the chart looks funny to you, wait some more time for it to present something more recognizable. Of course unless you trade all buy and sell signal your indicator gives you, sorry I can't help you, if you're that person.
|Re: Forex Trade Alerts: Season 19 by mrikay: 5:16pm On Jan 02|
MrIkay Reporting for duty. Forward Ever!!
|Re: Forex Trade Alerts: Season 19 by Nobody: 5:23pm On Jan 02|
Fxwarrior:You would have raked in a lot of pips on your GJ sell from 2days ago. I don't know what EJ and Gold looks like lol.
Only have EU,GU,GJ and my watchlist, I don't bother to look at others.
|Re: Forex Trade Alerts: Season 19 by AwesomeDuru(m): 5:30pm On Jan 02|
Tunderr:Lol. EU Sell has been raining pips since. Right from when it broke through my support line, I knew a reversal was in place. I wanted to announce it here, but then again, I thought to myself, what does a newbie trader like me know, lol. I was able to net about 500 pips or more. I have closed the trade now because it looks like it has met a support now and it's looking to retrace. I have set a buy order with about 300pips TP. I'm predicting it'll break through the support after a short retracement and then continue downwards. I might be wrong though, I'm just a newbie.
Phew! It feels so good to really know what one is doing there! Lol
|Re: Forex Trade Alerts: Season 19 by Nobody: 5:43pm On Jan 02|
Thinking out loud here; Not a good idea to take all buy and sell signals dished out buy your indicators.
Some filters; When you get a buy signal at ADR high, more often than not, the trade won't work out, opposite for sell.
I don't know how I can help with this; FIND the NOW trend, and trade with it but don't forget the MAJOR trend... Best entries are when your NOW trend is in sync with MAJOR trend.
AwesomeDuru:We can all benefit oh from the call or to serve has heads up.
For the sake of being on the same page, are you saying 500 points or 50pips? Better discard the 5th digit.
|Re: Forex Trade Alerts: Season 19 by Fxwarrior: 5:50pm On Jan 02|
Yes. Hoping gold shows us 129x by tomorrow.
|Re: Forex Trade Alerts: Season 19 by AwesomeDuru(m): 5:53pm On Jan 02|
Tunderr:Oh thanks. It's 500 points. Got it.
|Re: Forex Trade Alerts: Season 19 by Nobody: 5:54pm On Jan 02|
Still thinking out loud
If you'd entered the fake buy, no problem, you should close your trade for loss after it took out the higher low. If you notice , after price broke the higher low, it came back to retest it before falling.
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