Sorry you can't trade, mang.
Are you even profitable, every day?
5% a week is 1% a day!
Seriously. That's not a lot.
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50-100% monthly returns
- Thread starter fxtradeprodigy
- Start date
Sorry you can't trade, mang.
Are you even profitable, every day?
5% a week is 1% a day!
Seriously. That's not a lot.
Quote from achilles28:
Sorry you can't trade, mang.
Are you even profitable, every day?
5% a week is 1% a day!
Seriously. That's not a lot.
I'm saying you're lying.
I've never claimed to be a day trader, as I have a six-figure sales job. I swing/position trade stocks for the most part and have done very well this year, and was only down 5% in 2008.
I do not believe for one second that you can consistently make 3%/day.
Achilles, what is your account value?
Quote from mujoh:
Thanks, I was thinking exactly the same. But as you know a sucker is born every day. Sad but true.
Yup. I must be that sucker. Cause a trade that makes 1% on a 10K account is sooo different than a trade that makes 1% on 1 mil in forex. Just no liquidity there! Scaling up is nearly impossible.
Quote from bespoke:
Yup. I must be that sucker. Cause a trade that makes 1% on a 10K account is sooo different than a trade that makes 1% on 1 mil in forex. Just no liquidity there! Scaling up is nearly impossible.
Where do you trade?
And why would you need 1 mil to make $10,000?
Hell, one could have easily done that today with a balance of $50-60K using 20 lot trades.
It's amazing how people jump to conclusions.
The OP did not say his friend was COMPOUNDING 50% per month into billions, just that his friend has figured out a way to avg. 50% per month in gains from his starting balance. Then he sweeps it, by definition locking in the gains and starting over.
This is 12.5% per week and with FX leverage it is possible. I have even done it with e-mini's for long stretches. The smaller the account, the easier to make the percentage gains.
But for how long or with what drawdowns is another story.
The OP did not say his friend was COMPOUNDING 50% per month into billions, just that his friend has figured out a way to avg. 50% per month in gains from his starting balance. Then he sweeps it, by definition locking in the gains and starting over.
This is 12.5% per week and with FX leverage it is possible. I have even done it with e-mini's for long stretches. The smaller the account, the easier to make the percentage gains.
But for how long or with what drawdowns is another story.
Quote from bugscoe:
Where do you trade?
And why would you need 1 mil to make $10,000?
Hell, one could have easily done that today with a balance of $50-60K using 20 lot trades.
Okay, let me start over.
I trade prop and have access to as much capital as I need. I have a deposit there and I make 2-3x that much monthly, and amounts over initial deposit are paid back monthly. Does that mean I can tell people I make 200-300% a month?
I'm sure you can make 10K on 50K in a day. But if you're making or losing 20% of your account per day it's just a matter of time before you blow up (assuming you don't have more money to deposit). With a million dollar account the risk is just a measly 1% for that 10K and you can avoid risk of ruin.
If my strategies were scalable, which they aren't, I wouldn't be withdrawing money. I would be maximizing my strategies with as much money as possible within proper risk limits.
And that's why I don't understand why some people don't keep pounding away and making even more money with their profits. Why are people settling and making 50K a month when they could eventually be making 500K a month if they had the access to as many shares/lots as they needed.
See, I'm stuck where I am because there just isn't any more shares available for me to take for my strategies without creating too much slippage which would bring down my profitability (my bots scalp low-mid volume stocks). For the stocks that I trade, if I market in and out 1K shares at the prices I wanted I would make money, but if I did that with 20K shares I would lose money. But do people in futures/forex have that problem? Sure, if you're doing a hundreds of lots on the minis per trade....
though, volume has been pretty shitty last few months
maybe you guys can better explain this to me. and i mean that in an honest way.
and obviously i know someone isn't going to turn 10K into those numbers I posted above since making 12% with 10K is not the same as making 12% with 1 billion. I exaggerate it just to show how powerful compounding is
cliffnotes: why not grow your account to the point where the market can no longer handle your strategies, while maintaining risk