100k to 200m in 10 years

I'm afraid I don't agree, you can use these macroeconomic and fundamental things to your advantage as a very good leading indicator if you read them right. For example, if you do some research into Stock fundamentals, know their business, and buy at the right time, you can catch really big moves over 1-3 month timscales.

I don't doubt what you have said and I agree with you completely. I'm simply saying that for little old me, watching demand/supply pressure ONLY makes trading easier instead of worrying about tomorrow's economic numbers.

There are a plethora of hedge funds and investment banks who hire a multitude of quants/analysts and use complex time series models to forecast these figures and most of the time, they turn out to be wrong (for example today's consumer confidence number). So if they can't ever get it right consistently, little ol' me wont be able to either.

By simply focusing on my style of trading, I'm able to maintain consistency and not have wild, erratic swings in my account. On the downside, I'll most likely never an year where I can make millions due to liquidity issues. But that's a price I am willing to pay.

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Ok, as you all can see I am new here, been checking some demos and all that, anyway what I don't understand is why people keep saying is hard to get 10% in a month?
I mean using 1:100 leverage wouldn't just 10 PIPS be 10% of the account?
On the demo accounts so far I have been scalping and so far so good, I haven't really have the bad trades yet, I tend to scalp so I try to avoid risk..

Sorry I am kinda new..
 
Ok, as you all can see I am new here, been checking some demos and all that, anyway what I don't understand is why people keep saying is hard to get 10% in a month?
I mean using 1:100 leverage wouldn't just 10 PIPS be 10% of the account?
On the demo accounts so far I have been scalping and so far so good, I haven't really have the bad trades yet, I tend to scalp so I try to avoid risk..

Sorry I am kinda new..

It would be 10% if you use your entire account as leverage. I will only use 25% of my account on a single trade, so for me 40 pips equals 10%. I usually trade 5 or 10% of my account on each trade and I trade different pairs simultaneously, but I have made 50% in the last 2 days. I will add to that last statement that my favorite week of the year to trade is the week between Christmas and New Years. There are hardly no professional traders this week and patterns are clean and concise. The week after New Years will be crazy when the "pros" come back.
 
It would be 10% if you use your entire account as leverage. I will only use 25% of my account on a single trade, so for me 40 pips equals 10%. I usually trade 5 or 10% of my account on each trade and I trade different pairs simultaneously, but I have made 50% in the last 2 days. I will add to that last statement that my favorite week of the year to trade is the week between Christmas and New Years. There are hardly no professional traders this week and patterns are clean and concise. The week after New Years will be crazy when the "pros" come back.

Thanks for the answer.
I see, yeah I have traded the 100% of my demo account.
Even using 25% and 40 PIPS being 10% of an account it just doesn't seem that hard to do in a month as users suggest :S of course I am the noob here so I wouldn't know LOL

BTW Happy New Year :)
 
Thanks for the answer.
I see, yeah I have traded the 100% of my demo account.
Even using 25% and 40 PIPS being 10% of an account it just doesn't seem that hard to do in a month as users suggest :S of course I am the noob here so I wouldn't know LOL

BTW Happy New Year :)

The problem is human nature comes into play. Find a system that works and stick to it with discipline. If you let your ego into the equation then you will start gambling and you will lose. With that being said 10% per week isn't hard to do trading currency if you have a good system and stick to it.
 
It would be 10% if you use your entire account as leverage. I will only use 25% of my account on a single trade, so for me 40 pips equals 10%. I usually trade 5 or 10% of my account on each trade and I trade different pairs simultaneously, but I have made 50% in the last 2 days. I will add to that last statement that my favorite week of the year to trade is the week between Christmas and New Years. There are hardly no professional traders this week and patterns are clean and concise. The week after New Years will be crazy when the "pros" come back.

The problem is human nature comes into play. Find a system that works and stick to it with discipline. If you let your ego into the equation then you will start gambling and you will lose. With that being said 10% per week isn't hard to do trading currency if you have a good system and stick to it.

I didn't want to sound like that LOL, I really don't have an ego *at least on FOREX* since I really have nothing to boast or be proud about, It was just my humble and novice opinion. I will try to make a system or follow a scalping system, thanks for the advice, and best of luck :D
 
I didn't want to sound like that LOL, I really don't have an ego *at least on FOREX* since I really have nothing to boast or be proud about, It was just my humble and novice opinion. I will try to make a system or follow a scalping system, thanks for the advice, and best of luck :D

You definitely haven't sounded egotistical at all. I was speaking from my own 5 years of experience. My worst losses have come after a string of wins or a string of losses. Once I put my ego aside I started doing much better long term. I just seem to be kind of hard headed..........LOL...But I did put that behind me, but it was hard...
 
Ah, another thread where the discussion for page after page is making this many pips, this much % per week etc etc.

No mention of drawdown of course (doesn't exist if you're a good trader right?)

How much drawdown are you prepared to take in order to make your desired return? I doubt that most people even consider this before they set out.

I know a chap who at one point was borrowing money on his credit card to trade, and eventually made seven figures. He did have a 6 figure drawdown in one day along the way - has anyone on this thread ever considered what that might be like?
 
Ah, another thread where the discussion for page after page is making this many pips, this much % per week etc etc.

No mention of drawdown of course (doesn't exist if you're a good trader right?)

How much drawdown are you prepared to take in order to make your desired return? I doubt that most people even consider this before they set out.

I know a chap who at one point was borrowing money on his credit card to trade, and eventually made seven figures. He did have a 6 figure drawdown in one day along the way - has anyone on this thread ever considered what that might be like?

Didn't a very upstanding former member of t2w once say that drawdown is for wimps?

Peter
 
Ah, another thread where the discussion for page after page is making this many pips, this much % per week etc etc.

No mention of drawdown of course (doesn't exist if you're a good trader right?)

How much drawdown are you prepared to take in order to make your desired return? I doubt that most people even consider this before they set out.

I know a chap who at one point was borrowing money on his credit card to trade, and eventually made seven figures. He did have a 6 figure drawdown in one day along the way - has anyone on this thread ever considered what that might be like?

I guess the inability to handle losing trades plays a big part in what seperates the net losers from the net winners in the first place, and handling bigger drawdowns then plays a big part in how far net winners can take their game without taking on outside money.
 
Yes .. it's easy to take a 20% hit when your account is £10k and you have a job, but imagine if you drop £20mio when your account is £100mio. That would buy you a nice house in Knightsbridge.
 
I have to agree. 1% a day on small account is very easily achieved once you know the score. 100% a year on a 8 figure account is achievable too, and liquidity really isnt an issue if you use yer brain (problem is, most here dont have brains)

Liquidity is a massive issue, most traders wont make more than 100$ per mio, but their turnover is huge that they are making millions a year. Start doing 10 times the size and you're paying 100$ more in spread.
 
I have to agree. 1% a day on small account is very easily achieved once you know the score. 100% a year on a 8 figure account is achievable too, and liquidity really isnt an issue if you use yer brain (problem is, most here dont have brains)

Er, have you doubled an eight figure account in a year, e.g. £10mio to £20mio?
 
Anata wa Nippon ni summimasuka ?

I lived in Tokyo 5 years and absolutely loved my time there :)

Roppongi, Lexington Queen, my my :clap:

That was a nice experience apart from 12 hours non stop flight. It was also a long break from day trading coming with a benefit of realising few things about trading and all that systems selling and training business.

IMO Most of the traders have a gambling problem and there are lot of entrepreneurs out there successfully exploiting greed. It would help if one can form a realistic view about different system/training sellers - I did a bit of profit compounding calculation in the previous posts (a bit humoristic, but never than less eye opening).

Don’t get me wrong - there could be some decent trainers out there who may teach people how to make small profits consistently, but I doubt if there are any of them who can teach how to outperform the best traders in the world.
 

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Don’t get me wrong - there could be some decent trainers out there who may teach people how to make small profits consistently, but I doubt if there are any of them who can teach how to outperform the best traders in the world.

This is true for any trade that requires education, training and coaching. Singling out teachers of trading skills is unjustified, except that there is little ability to qualify them. Likewise with many government subsidized training programs in the US.

Anyone expecting to trade like the best fresh out of training with even the best teacher is unrealistic.
 
Singling out teachers of trading skills is unjustified...

No it's not.

Most will be predatory failures fleecing the mentally deficient. They do this because they can't make money from trading. Not all of course, but the vast majority.

By the way, it should be obvious why trading attracts so many scrotes purporting to be selling the key to the vault. The prospect of easy riches means that the river of suckers will never run dry.
 
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