6% return per month

best of luck dude.

remember to set a total cut off point where you stop trading and paper trade or take a holiday for at least 1 mth to find out where you went wrong.

this is so you do not give back your $20k of profits. if all goes well, you will not reach this point. but black swans aplenty in this business.
 
Why do B.S thread always get so popular ? this is a newbie who uses Neovest a charting software for professionals and of which the pricing info is only available on request. Then he asks if 7% month is good or not ! I mean anyone with the most superficial knowledge of investing and trading knows that such return is exceptional but why do I even reply ?
 
I agree, I don't know if that post was meant to say I'm better than yours, a BS post, or what...

One thing I learned is this, 2 years ago, I was averaging about 5-6% a month for 8 months when I started daytrading then I thought I my system was infallible. I didn't think I could go wrong.

But then when things started going wrong, I panicked. And I completely wiped out my account in 4 months.

Now I know better than to put a target % per month. I'm in this to make money and this month could be -% or it could be +% but that is unimportant to me to a certain extent.

As Kenny Rogers sang,
"..You never count your money when you’re sittin’ at the table.
There’ll be time enough for countin’ when the dealin’s done"
 
I probably need to make some clarification here. I am really sorry if my message would in any way reflect the meaning that "i am better than you". I am really sorry about that if I do inflict such a feeling unto you. I really dont mean it. All I would like to ask for is some advice and encouragement from serious, experienced and expert traders.

If you look at this thread, you can see many great traders, like SethArb, Mahras2, Remiraz, psytrade, MTE, neutrino, polpolik and Napa gave out many good advice. If you dont like my message or think i am arrogant, please just ignore me. BUT!!!!!! please !!!!!!!look at their message. I personally gain a lot from it and I hope it helps other in the same situation too.

Thank you again for all of you contribute to this thread. Your advice about trading skills, psychology and mentality are especially useful.

Ovations :)
 
May I take this opportunity to summary some of the GREAT POINTS some great traders and contributors have made in this forum.

"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."

"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."


Remiraz

Comment: Great Fact and statistic


"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."


Napa

Comment: GREAT trading mentality and Psychology

Comment: Great analyisis and some facts for those trader managing some accounts.


"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."

Neutrino

Comment: Another great trading comment on psychology and mentality. Setting the right mind for profitable trader.


"remember to set a total cut off point where you stop trading and paper trade or take a holiday for at least 1 mth to find out where you went wrong.

this is so you do not give back your $20k of profits. if all goes well, you will not reach this point. but black swans aplenty in this business."

Remiraz

Comment: GREAT STRATEGY to get yourself back to the Right trading mind and tactic.


"Now I know better than to put a target % per month. I'm in this to make money and this month could be -% or it could be +% but that is unimportant to me to a certain extent."

As Kenny Rogers sang,
"..You never count your money when you’re sittin’ at the table.
There’ll be time enough for countin’ when the dealin’s done"

Polpolik

Comment: Great personal sharing from a great trader and great principal from Kenny Rogers



Hope this little and rough summary could helpe those who read this thread. Thank you all of you once again.

Ovations :)
 
Quote from ovations:

Thank you Mahras2. Thank you very mcuh for your encouragement. I started off with about 38,000 six months ago and I have not drawn any money from my account since then. Now, i have about 58,000. What do you think of my performance. I am currently using NEOVAST as a software for trading. It is quite expansive. Could anyone give my some suggestions. Thanks.
More...

ovations,

two questions: are you a native English speaker? If not where are you from Europe? Asia?

Also, tell us more about neovest, cost, features, how long it took you to learn, etc.
 
Quote from Kicking:

Why do B.S thread always get so popular ? this is a newbie who uses Neovest a charting software for professionals and of which the pricing info is only available on request. Then he asks if 7% month is good or not ! I mean anyone with the most superficial knowledge of investing and trading knows that such return is exceptional but why do I even reply ?
More...

Hmm, could it be a clever spam attempt.

Nick
 
funny ET name you have sir

you looking for applause mr ovations?

please give us here on ET some more background
as to how you started trading and not lose money
examples of what you traded
what is your best win , worst loss
amount of shares you typically trade
trade price you typically buy / sell at
percent of capital you risk per trade
number of positions you have at any one time
do you keep a journal? maybe here on ET you can do this ?

I am sure some others here could ask other questions of you ...

:)
 
Quote from ovations:

Dear All Serious Traders

I am a beginner in this trading business. I have managed to make about 7% return per month for my capital in the last 6 months. ( I made a lost about 1 % last month, in August, the only losting month I have up to now.) Could Anyone give me some comment for my performance please. Thanks.

Ovations :)
More...

Ovations,

You must understand our concerns:

many of us, including me, are still down the length of a few margin calls and try hard to breakeven.

Its pretty logical we get pissed when we read your statements, so please, if you are for real get back to your keyboard and answer our basic questions.

And if you dont......

.......well, then you are a fake.

And what's all about with all those spelling errors, you should be aware you can check your spelling with java script...

...I smell a rat here.
 
Some people have sent me private message and I am very happy to share with you some of my experience which i believe are useful and valuable. However, in the last few messages, some people are asking in such a rude manner. I am sorry I am not going to response to such people.

I am here to share genuine and useful information and make friends with trader with great character. I know what you are going to write in this message board. So just do whatever you like.

For those who want to find valuable information about trading. please read the first few message. They are useful.

All the best.
 
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