real "miracle" stories of growing a "micro/mini" FX account...you have one?

ddaytrader - When you open a trade and immediately close the trade you're down the amount of the spread, whatever it may be. You do not pay the spread two times as you claim. Give it a try.

You also seem to refer to leverage as if if it's something you have no control over. Just because broker A offers 400:1 leverage and another 50:1 means nothing if a trader is risking x% on every trade.

Lets compare your costs to mine: I pay 0.9 spread with my broker. So for a 125,000 lot size trade, my cost would be $12.50 (I rounded up for you).

You're paying a $7 commish plus at least a tick of $12.50 for a total of $19.50. Don't tell us that the 6E contract is always 0-1 ticks wide all the time either.
 
Quote from bugscoe:

ddaytrader - When you open a trade and immediately close the trade you're down the amount of the spread, whatever it may be. You do not pay the spread two times as you claim. Give it a try.

You also seem to refer to leverage as if if it's something you have no control over. Just because broker A offers 400:1 leverage and another 50:1 means nothing if a trader is risking x% on every trade.

Lets compare your costs to mine: I pay 0.9 spread with my broker. So for a 125,000 lot size trade, my cost would be $12.50 (I rounded up for you).

You're paying a $7 commish plus at least a tick of $12.50 for a total of $19.50. Don't tell us that the 6E contract is always 0-1 ticks wide all the time either.
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I do not understand the tone of your post. I am new to ET, and I am not at all clear on why you would respond to me in the manner in which you have chosen. I will respond this once.

It would seem that you yourself have been able to trade successfully through a forex dealer. That is great! You are, I presume, one of a very small number who find themselves so happily situated, and you should be commended for your accomplishment.

I, on the other hand, have admitted in my post(s) that my attempts to trade through various retail forex dealers have largely been failures. My futures trading, on the other hand, has been successful and very satisfying. So, I have to ask myself, "Wherein lies the difference?"

The only thing that I can identify that can explain why I can trade FX futures and maintain consistent profitability but I am a breakeven trader at best when I trade the underlying trough a forex dealer is the spread charged by the dealer. The dealer spread seems to be such as to prevent me from adequately managing my risk:reward ratio. My ability to keep an extremely tight reign on my R:R is the basis of my success in futures trading.

I did not mean to imply that the spread on the 6E was always one-two ticks. As a matter of fact, last night around 5:30 PM est I saw that the spread between the nest posted bid and the best posted offer was nearly 51 ticks! Of course, I was not trading then. I typically trade between 8 AM EST and 12 noon EST and the spread is typically 1 tick during those times.

The spread right now is fluctuating between 1-4 ticks.

Peace,

ddaytrader
 
Coming late to this thread. But I would just add something : use your micro account as a training camp.

If after some months, maybe a year, you earn something like +10% or +20%, that's good, no I mean, that's really good because it means you can now apply this to a classic account where the earnings are more interesting.

There is no such thing as a lasting 100% or 200% ROI on forex, better focus on reasonable benefits.
 
Quote from krnmcintyre:

There is no such thing as a lasting 100% or 200% ROI on forex, better focus on reasonable benefits.
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I am sure MANY would beg to differ with your statement here...if this is not possible than why trade at all?seriously...you gotta believe that whatever you trade can produce such results...AND many have proven this...if these results are not possible then everyone is wasting there time...
 
Me, porph and Spanish89 have all turned little accounts into a fair bit of $$$ :) Not FX though.

Look at spanish's journal "5%-10% profit per day" to see the results (including screenshots etc)

(however I dont think you've got it in you. You start these types of threads every other day. You dont seem to be learning)
 
Quote from increasenow:

real "miracle" stories of growing a "micro/mini" FX account...you have one?

Has anyone really taken a $250, $300 or $500 "micro/mini" Forex account to even $1,000 or $2,000 or even $5,000?...just want to see if this is even a possibility for the "Joe the Forex Trader" out there...or do most people just use the "micro/mini" account to "practice" trades on...please share you insight etc.

What was your account balance you started with?
what number of lots did you trade most?
what cross rate?
how long did it take you to get to $1k, $2k, $3-5K?
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It can be done, but the odds of sustaining such returns until the compounding has any real effect are against you.

Get capitalized, cut the leverage and follow the hedges fund flows (and earn swap), it all becomes so much easier then.
 
Quote from increasenow:

I am sure MANY would beg to differ with your statement here...if this is not possible than why trade at all?seriously...you gotta believe that whatever you trade can produce such results...AND many have proven this...if these results are not possible then everyone is wasting there time...
More...


Think over the long term. I mean 20-30 years. How many traders survive this long? Can they beat the market average over the long term? Sure, you can bag 200-300% one year, but one large draw down and you are back to the market average.

Focus on compounding, not big, fast returns. Trust me, you cannot keep these returns up. Ask anybody who has been in this game for more than a few years.

Not saying that some haven't done it, but over the long term it makes little sense, as compounding will make your rich enough, just ask Buffet.

This is about money, nothing else.
 
dudes listen...trading is trading...if you get skilled in ES, NQ, stocks, Oil or Forex...get consumed with one instrument and become an expert...yes, you can make BIG $$$ bucks...that is why we trade...
 
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