What's up people? Last night to trade before the weekend for me.
First trade;
Long GBP/USD: 1.61513
SL: 1.61455
TP: 1.6160
First trade;
Long GBP/USD: 1.61513
SL: 1.61455
TP: 1.6160
Should I become a full-time Forex trader? 99 replies
Are you a full Time Trader Or Part Time? 32 replies
from retail trader to full-time trader 17 replies
DislikedHi,
Don't think too much about running before you can walk. Take it slow and steady and see if your expectations are realistic in 10 months time.
You already realise that one month of profitable trading is not enough to be overconfident.
I see this quite often when people say that it would require x amount of consecutive losing trades to use up the margin.
This is not true, if trading with a R:R of 1:1, it would require x amount more losers than winners.
You use the number 27, so out of 1000 trades 514 losers and 486 winners. You wouldn't need...Ignored
DislikedIt would appear on the "trades" performance page that "Saintsurfer" is returning 566.9% profits so far this year. Assuming that his methodology can produce such returns at even a fraction of this level consistently, would this suggest that "Saintsurfer" is likely to be a multimillionaire?
Maybe someone should ask?Ignored
DislikedNo it wouldn't.
Saintsurfer is trading a $65 account
He has done very well this month, no denying that, but making such a high profit with so few trades suggests that he is probably risking too much per trade. Could he be able to cope with the same risk % on a $20,000 account? I doubt it.
Saintsurfer has not traded and consistantly made 10% per week.
Note that Saintsurfer came within a whisper of blowing his account at the end of the year.
Allowing a $65 account drop to $10 is a world apart from watching a $20,000 account fall to $3,000.
Not...Ignored
DislikedWhy so few pips per trade, I dunno what time your playing maybe it's all thats on the table, but seeing 20 - 100pip moves in the US session the last few days, if you can get to 20 - 30pip profits then think how much quicker your account will explode upwardly.Ignored
DislikedAgree with G regarding the ability to trade larger amounts, it's not for everyone and the best strategy for that is incremental increasing your lots over a period of time.Ignored
DislikedDepending on work, I trade roughly between the last 4 hours of the Asia session to the first 2 hours into the London open. I'd say I average approximately 3.5 hours on the days I trade. Unfortunately there will be several day stretches here and there that I couldn't trade at all.
So why so few pips per trade... I do want to make sure I understand your question correctly. 1 way I take it is, "why don't you let your winners ride to 20-30 pips before taking profit." Well I suppose it would be responsible of me to take the time to check back on...Ignored
DislikedNot suggesting you should change your SL or entry method definitely not higher TF's for sure, but if your getting a good bit of momentum then some 20-30 pip moves occasionally would boost your account growth hugely.
If its not broken don't fix it!Ignored
DislikedFrom what I am seeing, he is mainly trading in periods of low volatility when the market tends to range and not trying for the big pips and not concerned about trends.
His SL seem tiny to me, but he seems to be making it work. Especially, he deserves respect because he is putting his trades up as near to real time as is possible.
So far, I'm impressed and I am hoping that his success continues.Ignored