Chikot's Posts - Page 113

Search for really good Account Managers in Experienced Traders Nov 07, 2010 at 13:27

well, has anyone seen any fund or bank making 1000% annually or better monthly ;) ? I have not heard of one yet. So, why to strive to these unrealistic returns while steady 30-50% annual is actually a great results?

Search for really good Account Managers in Experienced Traders Nov 07, 2010 at 13:26

Yes, most traders do not trade small account as if it is a big one. And it makes habits that stick and it is hard to get rid of those bad habits and once they have big money to manage they make big holes in those accounts cause when 5-10% risk on $100 doe snot look as much it is a lot on say $10 000 000 account.

Why not trade your own money? in New Traders Nov 04, 2010 at 20:08

I think that it must be made clear from the start that when account is in profit, fee is payable every last date of the month. If no pay, no trading. I think if trader makes money, it would be stupid for account owner not to pay.

How fx manager get investors? in Experienced Traders Nov 04, 2010 at 07:27

My goal always was and is to reach high level of competence and employ my skills to help other people grow their capital with reasonable returns and solid risk control over long term.

How fx manager get investors? in Experienced Traders Nov 04, 2010 at 07:25

Ok, this is pointless debate. I am sure that no one here started with $500-1000 and then after many years of living modestly and cutting expenses, losing family in the process, started earning from their grown account.It is a vision a la Jesse Livermore , however it is not a real life. There is saying, Money attracts money and $1000 is not attracting money. To start the process there must some kind of absolutely necessary minimum capital. Sometimes it is simply impossible to cut any expenses to put more into trading account. But here the catch. if trader trades his small money and this is the ...

How fx manager get investors? in Experienced Traders Nov 03, 2010 at 22:34

That's assuming trader at least has some starting capital worth to mention and friends or family who also has spare capital. I think that someone can trade and even doe snot live from trading profits, he can manage OPM. Obviously trades must show that he can trade with good risk control and make money. This is what myfxbook is for.

Brokers for US Residents in Experienced Traders Nov 03, 2010 at 22:05

BTW, regarding these brokers. Does prospective FX manager still need to register to be able to trade OPM of US citizens. As I understand it is required it client transfers funds to Oanda FX Manager for example. But if trading is conducted via Limited POA from client's own account no registration is necessary, am I right?

Search for really good Account Managers in Experienced Traders Nov 01, 2010 at 10:23

Another one. High profit = high risk ;)

Search for really good Account Managers in Experienced Traders Nov 01, 2010 at 10:21

SearchManager, a piece of advise. No one can promise you anything in terms of monthly returns. it is probabilities game. There is no certainty here.

$1000 to $1,000,000,000 in New Traders Oct 30, 2010 at 17:21

1 %,2% or 3% per trade not per day

$1000 to $1,000,000,000 in New Traders Oct 30, 2010 at 17:19

This idea has some sense. Last month or so, I have been working on letting profits run well beyond I usually did with improved entries. I have been closing half of my position somewhere between 30-50 pips and move stop to BE letting the rest run. I guess the month was not very good for letting profits run as all trends on pairs I am trading are in suspension, reversing or ranging. So, I calculated, that had I closed all trades completely at where i closed only half position my returns would have been much better., But over long term , I guess it still has sense to let profits run for more pips...

Why not trade your own money? in New Traders Oct 29, 2010 at 17:02

Unless I have at least $100 000 of my own to risk, it makes no sense. I would put more to my account, but it is onoy to show clients, not that trading $500 or $3000 make s any difference. With goal of 30-50% annual return trading $500-3000 account makes no sense. But it is a good show of my skills.

LOT SIZE CONSISTENCY in Experienced Traders Oct 29, 2010 at 08:00

Good video, especially for those who trade with MT4. It's so much easier to manage size with Oanda.

Brokers for US Residents in Experienced Traders Oct 29, 2010 at 07:50

I actually checked their site, but could not find any information about text books I need to read to pass those exams. I could have downloaded and started reading now gradually to be ready when I need to take those exams.

LOT SIZE CONSISTENCY in Experienced Traders Oct 29, 2010 at 07:17

I agree. My reason to reduce size by the end of the month is due to statistics that I tend to have better beginning/ middle of the month than the end. Hence, once I am in the profit, I can continue trading last week too if conditions permit but instead of risking say 1.5-2% per trade, I would risk 0.5-1%. If I have a couple of losses, I am down a little, but still have most of the profits locked. I think that increasing size to trade back losses is a really very bad thing to do, but to reduce size once money made to protect it, I see nothing wrong with it. Most of the time size changes anyway ...

Brokers for US Residents in Experienced Traders Oct 29, 2010 at 07:03

I have a question. I am Canadian myself and have been trading with Oanda. I have FX Manager account there and they started writing to me whether I am going to solicit my services to US citizens and that I have to get FNA registration to do so.Obviously I would like to do so in the future as client is a client, but as it is not possible with Oanda without being registered with FNA and I do not have much time and desire to take on 2 those examples and a number of fees associated with it. I wonder, is there any other brokers that do not require registration to trade US citizens' funds or the ...

Why not trade your own money? in New Traders Oct 27, 2010 at 15:26

I think if trader has skills but has no funds, it is better to manage OPM. Nothing wrong to make money for someone and earn good living from this. this is my goal. I am not lying to myself what is possible and I know that to make some bucks over time much bigger starting capital is necessary which I do not have.I do not believe in 20-40% monthly consistently over long term with low risk but I believe that anyone who is aiming so high consistently will burn himself and burn his account. I myself pushed for higher returns and lost all earnings within one month, so, i am quite sure other traders ...

Looking for Good Forex Traders To Trade My Capital in Experienced Traders Oct 27, 2010 at 06:24

When something important depends upon trading small size account, small size account tends to have very emotional impact :)

LOT SIZE CONSISTENCY in Experienced Traders Oct 26, 2010 at 23:31

Interesting point. I have been thinking of this too. But I actually do the opposite. Once I am in the money for a month, I reduce my size to avoid losing monthly returns. If in the first-second week of the month I made enough, i would reduce size in the third week and reduce even further at the last week.

Reasonable monthly/ annual returns in Experienced Traders Oct 26, 2010 at 21:06

Trixifix, thank you for response.I am actually not changing my style to suit anyone, but I have been experimenting with leverage and stops. Now everything looks like in order, so , I will continue doing whatever I have been doing.Oanda actually contacted me regarding new rules. It looks like if I am to trade US citizens funds in the future I do have to register. But if funds are of non American citizens I pretty much can continue without registration. I guess I will have to register eventually after I have longer trading record. I believe there will be investors interested in my level of retur...

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Posts by Chikot