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Trading for a living......very intersting topic...
I think in addition to having good strategy, good indicator etc traders need to have a realistic target on a daily or weekly target.
Just want to share my idea and expecting some comment, critic etc..
I have tabulated a table... look at how 10 pip a day (50 pip a day) and trade 30% max at one time can produce good results in long run if we can follow it with discipline. The end weekend balance is the real target. Attach is the table.
Do you think the target of 10 pip a day (50 pip perweek) is too optimistic or reasonable?
I have written about that in the past. 1 pip per day is great! Forex is very powerful because of leverage. If you can make 1 pip per day guarnateed, then you will acheive trading for a living.
Did anybody follow the schedule which was attached to the above statement ?
I have been trading stock for 12 years but only 3 months plus in forex.....and in the process of learning and learning.......Really a lot of things needs to be learned. Still on demo.....
I tabulated the table late last month and challenge myself to meet that target by sticking that figure on the wall next to my computer. Start the challenge since 1st August........here is the result for one week plus but......nothing to be proud of with this one week result.
If i can meet the target in 5 week.....i might consider trading live account. If not trade demo again.....Any comment and opinion appreciated for my trading improvement.
I am interested to know more about your past 12 years stocks trading? Did yo umanage to make a living out of that?
10 pips a day should be easy to achive.......I trade G/J only....and i set myself a target of 250pips a week, some months ago....
I have never made 250 pips a week, from the first week I made 600 pips and I have never fallen below that figure.
I now only trade three days a week....I start at market open Monday and I trade right through to NY close Wednesday...
I achive 600pips plus in the three days...
So set your target and go for it...
Would you mind sharing your method over here in trading the GBPJPY?
Achieving around 2400 pips per month is a great thing
In stock market....overall i make profit....but i do not do it full time due to lack of capital......
I have experience of losing rm12,000 (usd3500) within 3 days time...it is really painfull, very painful.
My best profit is turning 10,000 (usd2,900) to 60,000 (usd17,600) in 3 months time......(statement available)...the money already gone i have enjoyed it.
Stock market is a one way market......so it is different.....
So you are trading for living. Would you mind sharing us your past results....
I have met so many people claiming that they are making profit....especially those selling course, offering class but then when i insist on seeing the result they got piss off . I don't know why?
Being a result oriented trader, for me i don't mind sharing my results whether it is a loss or profit. Loss and profit are the product of trading business... it is a reality...from the result we can learn a lot...and get others opinion ..but i don't know it is not the case for some people.
It sound good to get 250 -600 pip perweek. But i just wonder whether this target could be maintain consistantly on weekly basis. It certainly give tremendous pressure to acheive this target.....on weekly basis....Don't you think so?
In addition to amount of pip, position size and physycology are equally important i guess.
I prefer something relax, consistant on long run, no pressure and close on the same day, slow but steady....
May i know what percentage of your fund is used for each trade.......and what method u use to acheive that target.