Posts by traderlight
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Why are you trading? In General May 08 2011 at 11:55
Beverley, you appear to me to be a part-time trader and a part-time trading educator? What makes you choose to have this second "job"? I am a mentorless trader, and have a skeptical view on this forex education business. If you make a good trader out of someone who then quits his normal job, and live his life (just his life), would you consider that as mission accomplished? What I'm saying is, trading activites don't benefit much to the traders' community (other than the traders themselves and the brokers maybe), so the community loses every time a full-time trader is born. Having s......
Why are you trading? In General May 07 2011 at 05:27
Why don't you guys show your accounts (real) here at myfxbook? Well, maybe not every detail, but at least your %gain? Is it because that if you give up your privacy you'll become nervous and your performance will suffer?
[quote]jad42 posted: Compounding is very powerful.....And should not be taken lightly..... If you can achieve 20% plus a year and keep doing this year in year out your trading with the professionals !! [/quote] Indeed, it is extremely powerful. But I think yoohoo999's calculation to show how powerful it is, is too simplified. That's more reasonable for calculating compounding interest. For trading, it would be less easy don't you think? Do you increase lot size after every profit? Maybe after every profitable month?
[quote]traderlight posted: [quote]yoohoo999 posted: My point above applies equally. You need to be taking large risks to be making 30% a month profit. How comfortable would you feel taking those risks on a £1m account? [/quote] That's why I said I don't do much compounding [/quote] If I ever reach the 1M in my life time, my monthly return off that 1M balance would not be anywhere near 30%
[quote]yoohoo999 posted: My point above applies equally. You need to be taking large risks to be making 30% a month profit. How comfortable would you feel taking those risks on a £1m account? [/quote] That's why I said I don't do much compounding
[quote]yoohoo999 posted: 360% ROI per year is HUGE. Your risk must also be huge. Fair enough if you're risking money that you wouldn't lose any sleep over if it all disappeared in a day. But I just can't see how it's possible to make 360% annual gains without subjecting your capital to considerable risk. The higher the risk your capital is exposed to, the more chance you have of it all going pear shaped and blowing an account. If you've got a large risk appetite, then that's cool I suppose. Have you never wondered why institutional traders only look to make less in a year than most r......
And further calculation: without compounding, consistent 30% monthly of my real original capital of £3000, I would require 92.3 years to reach £1M. What would it be like if I do some compounding?
[quote]yoohoo999 posted: £1,000 starting bank After just 12 months you would be sitting on £378,552. After 24 months you would be sitting on £143,302,033. I would say that is a bit more than "reasonable" Good luck! I'll stick with my ambition of a paltry 5% a month [wink] [/quote] Also quote, Ja wrote: I will be happy with 40% at the end of the year...................... Well well, what do you know, my performance now is 47.27% monthly (according to myfxbook autocalculator) after about 5 weeks. But no, I don't think I'd be a millionaire any time soon, bec......
[quote]yoohoo999 posted: 64% a month consistently would be a dream come true. [/quote] Agreed, this is a nice dream that won't come true to most people. But maybe there are those people with this kind of consistent monthly return, I don't know.
[quote]yoohoo999 posted: yoohoo999 posted: Seems most people on here think that forex is only worth the effort if you can double your bank every week!!! [/quote] That sounds like gambling to me.
HSBC Manufacturing PMI (7 min)
NZD/USD is pressing lower in a significa...(27 min ago)
EURUSD 1.2638 GBPUSD 1.60433
USDJPY 107.178 USDCAD 1.12582
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