50k dollars a month - page 24

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Ndumiso Mavuso:
I have already did $100 to $1000 with normal rrisk management ( 0.01 lot per $100 acc) and drawdown less than 40%.

I am on to $1000 to $10 000 currently and $10k to $100k but it will take longer from $25k as leverage will be reduced by the broker.

Anything is possible in these markets but one should FOCUS on the skill, not money, get the skill first and everything will follow!

Certainly there is no EA that can do what I did and doing! you can go argue with you grandma...

So this means again that risk management is the major key, you made this in two months, is this true?

autotraderbra:

You are blaming  EAs for the bad strategy, what a human can do an EA can do better, and 24/7, looking all charts at the same time if you want, no emotion, there is no way a human can compete

Actually some aspects of price action can't be put in an EA i think Mavuso argument is coherent, the only thing im wondering is the drawdown, less than 40% is a bit much

 
Amir Yacoby:

So are you risking 1 % per trade? This is a much more sane approach then making 15% a day (which is imposible without risking way too much).

If someone does not understand me here, I'm all for making big money in this, of course. This is the reason we are here.
But, the way to do it on the long run is controling the risks. It's not by defining things like: "I will make 15 % per day" (which is really imposible also on the long run).

Simply because that way the risks are not considered, and this causes a trader to take bad trades (Or because the market not moves or because a previous loss in that day etc..) - This notion of "I will make 15 % a day" is wrong. This is not a salary we are talking here.

You just need to trade well and not consider anything else, except controling the risks.

It's totally possible to go from 500 to 200K in one year (it's average 2% per day).

The question that popped in my head when i saw the video is 1% is the risk he is taking, not the profit made so how do you know he is making 2% per day


risking 1% profit per day means after 4-5 trades "according to the video" he will be making 1% profit every 1-5 days depending on how many steak loses and how many trades taken per day so this doesn't mean he is making 2% constant per day



I like the part in the video where he say "you risk 1% of the account but 4% of the profit" eventually there will be more than just the 1-2% added every time you make more regardless of the account, so it is possible to make a total risk of 5-10% ~ 50% and make 5% profit a day if you look at things differently 


Relativity is the key here .. 

 
SafMoseSteve:

The question that popped in my head when i saw the video is 1% is the risk he is taking, not the profit made so how do you know he is making 2% per day


risking 1% profit per day means after 4-5 trades "according to the video" he will be making 1% profit every 1-5 days depending on how many steak loses and how many trades taken per day so this doesn't mean he is making 2% constant per day

I just said that what Fred says he has done (500 to 200k in a year) is possible and it takes on average 2 pct per day - 500×1.02^300=190000.

When you risk 1 pct it does not mean you have enough info, you are right. You miss the expectancy (sucess rate of the strategy in percents) and the r:r and the number of trades it gives per day or week or year.

But what I can tell is that risking 1 pct is not going to make 15 pct daily, because the r:r is too wide for that (if the average r:r is 1:2 or 1:3 or even 1:1 then its not likely to make 15 pct daily, much more likely to make 2).
 
SafMoseSteve:

I like the part in the video where he say "you risk 1% of the account but 4% of the profit" eventually there will be more than just the 1-2% added every time you make more regardless of the account, so it is possible to make a total risk of 5-10% ~ 50% and make 5% profit a day if you look at things differently 


Relativity is the key here .. 

Well, risking 4 pct of the profit plus 1 of account is not going to sum up to 5 pct of the account until the profit will be 10 times of the account.

At the begining it will be just 1.2 pct, 1.3 etc.. 
When you reach 5 pct you start gumbling again.
 
Amir Yacoby:
I just said that what Fred says he has done (500 to 200k in a year) is possible and it takes on average 2 pct per day - 500×1.02^300=190000.

When you risk 1 pct it does not mean you have enough info, you are right. You miss the expectancy (sucess rate of the strategy in percents) and the r:r and the number of trades it gives per day or week or year.

But what I can tell is that risking 1 pct is not going to make 15 pct daily, because the r:r is too wide for that (if the average r:r is 1:2 or 1:3 or even 1:1 then its not likely to make 15 pct daily, much more likely to make 2).

I'd just love to make that 2% constantly

 
CrisZind:

I'd just love to make that 2% constantly

Well, it is also a function of number of trades. The lower the risk, the more trades you need.
I have a friend who made millions by trading very fast. He has a style of looking at a chart and instantly issuing a trade, it can be different timeframes of same symbol with different directions etc. or different symbols. He just looks and sends. Each trade is very low risk but he limits the total risk open to 5. Which seems ok to me because it is spread on many trades and symbols.

So the point is that quantity compensates the low risk but he's unique in that, it does not suit everybody.

And also you should not aim to 2 pct or 3 pct or whatever. It depends of what the strategy gives you, it can be 1 pct or 0.5 pct or 0.1 pct. Whatever. The right way is not to look at this, but to focus on controling risk.
 
You must love all of those consecutive losses !
 
Marco vd Heijden:
You must love all of those consecutive losses !
Congratulations Marco vd Heijden for being 100% true to yourself. We all respect you for showing us exactly what kind of person you are. 
 
Marco vd Heijden:
You must love all of those consecutive losses !
100 consecutive losses still leaves you with 40 percent of the account
 
Amir Yacoby:
100 consecutive losses still leaves you with 40 percent of the account
Last three days' profit percentages: 12, 6, and 3.3. 
I already have 10 Euro pips profit locked in for today = 5% locked in for today.
I am trading my customized M5 MACD on my phone.
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