6% return per month

Quote from ovations:

Thank you Remiraz. I am just a hard working poor boy trying to improve my family living. As you can see from my message. i started off with very small capital and i have only traded for about 6 months. I will try to keep this performance. As Mahras2 rightly points out, I will try to keep my right trading principals and build up my capital. All I posted in this forum are honestly from my heart. Thank you Remiraz once again for your encouragement. In August I lost about 1.3% of my capital. It made me to have self doubt. Thank you once again for all your great kindness and encouragement.
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I think that Your performance is quite good and doable for a while. As long as you keep your cool attitude and don't get too depressed because of momentary bad periods. And remember money management. It's often long and hard job to get rich, even more so with trading.

I think that Remiraz'es performance figures doesn't quite apply to you - those Big Players face different problems than you: namely liquidity. Therfore you should aim much higher than those numbers.
 
Quote from Remiraz:

7% return a month makes you one of the top wall street pros.

Two statisical tally has been made and both agree that around 83% to 95% of traders lose money.

So if you make money, you're top 10% to start with.

7% returns a month is 225% for 12 months or 1 year compounded. Lets assume u do a modest 100% a year instead. 100% a year will put you among the top traders in the world.

Even the mighty Warren Buffett only manages to average about 24.9% p.a. returns over the span of his career. (i read it somewhere lol) The Turtles and Richard Dennis managed 80% p.a. and were hailed as "pros". (this story cannot be confirmed however) Most funds are simply happy to do 10-30% p.a. returns.

If you can indeed keep up this edge of yours, you will become a trading superstar.
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Actually, 7% per month is 125% per year compounded, not 225%.
 
Sorry about the spelling error. It should be NEOVEST. It is very good. (I believe). It is quite expensive though.

Does anyone have some other suggestions?

Thank you for everyone participate in this forum. It is a great place to exhange valuable idea.
 
Quote from Remiraz:

oops my bad. it should be 225% of your initial capital.
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Yes, you have 225% of your intial capital in your account, but the return is 125%.
 
Quote from ovations:

Thank you very much for your post. I basically day trade most of the time and I am having cash postion at the end of each trading day. I am a bit worried about the losting month I made last month. Can anyone show me some directions for being a successful trader. Thanks.
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so you have a 5K account and make $300 per month, pretty impressive.
 
Quote from napa:


I think that Remiraz'es performance figures doesn't quite apply to you - those Big Players face different problems than you: namely liquidity. Therfore you should aim much higher than those numbers.
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Oh yes it does.

Start - $58,000
Year 1 - $130,500
Year 2 - $293,625
Year 3 - $660,656
Year 4 - $1.486 mil

From $58k to multi-million in 4-5 years.

I think there are about 500 people in the world that can do that trading...or less.

With that kind of track record he is on par with Marty Schwartz and Richard Dennis! :eek:
 
Quote from ovations:

In August I lost about 1.3% of my capital. It made me to have self doubt.
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Hey, even if you lose in every month until year end, that's OK, no big deal, just make sure it's not everything you made in the first six months. Remember that it is a market, it can do whatever it wants to do and surprise you in many more ways than you can expect. You will have many, many losing months from now on, but you can still be one of the best traders in the world. Just don't expect too much and do not extrapolate that 7% average a month into infinity, it is just not sustainable.

The good news is however that you are probably very good and will be able to make money in the market :)
 
Dear All

Thank you so much for all your post (especially those kind recommendation and encouragement). I am very serious ( and honest). I dont have 5K. I started off with about 38K and now 58K. I made a down month last month and made me to deeply look into myself to find out what goes wrong or what needs to be improved.

Those encouraging word does really give me a boost. I made little trade on 2/9/2005 and made 1.6% return. See if I can keep this trend going (I believe which is the most DIFFICULT task).

Anyway, I use IB and it seems that it worked perfectly well.

All the best with you all

Ovations :)
 
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