Thread: trading systems vs account size

I really don't know how others feel about it, but as soon as you manage to possess position sizes so that your risk is 1% but every pip moves at least 1/EUR/GBP/whatever your currency is, then you are pretty much in a good ball park to get a lesser class income per month in case you manage consistency.

Say you got 10k. 1% is 100$. If you manage to compound 2-3% each week you at level where you are averaging in money.

The one issue is not to achieve levels that are at least as good as a burger flipper. Putting aside for a second that there's no retirement, no dental program, health care...(oh and did I mention, your losses are all yours, however, your wins get taxed? Beautiful.)

The problem is - if you've got to completely live from your trading income, how on earth are you likely to increase up the account at these numbers?

Additionally it has insane performance pressure.

But if anybody asks me the real problem stays the plogical one. Discipline, patience.

We're human and we have been brought up with a lot of brain mechanics making us behave precisely the incorrect way in trading once we start. Trader888's posts in a different thread to this regard are extremely enlightening and true.

In almost any situation where there's a problem it's not the system, it's the trader(erratic behavior, not following through on principles, MM, using discretion where it is disallowed, not understanding how to utilize it correctly where needed,lack of expertise, lack of patience, revenge trading, being not able to accept that losing is part of winning and the list goes on and on and on. .) .


. .

Originally Posted by ;

All programs are not the same. In fact is that no one work in all market conditions.

I am gonna say nah, 1 thing all INDICATOR based systems have in common is that no one work in all market conditions.

Price is going to be price in all market conditions. No setup - no trade

As straightforward as that.

Originally Posted by ;

The one issue isn't to reach levels that are at least as great as a burger flipper. Putting aside for a second that there's no pension, no dental plan, health care...(oh and did I mention, your losses are all yours, but your wins get taxed? Beautiful.) . .

Is worth it to live in Canada; at least there is reasonable health care and in the majority of provinces dental care for the children plus a minimum guarenteed old-age plan (ok, it is not much); while both wins and losses have been incorporated. I have a couple income stre, and losses in one can be written off against gains in the other. For FX and trading in the US equity market (because I understand the gov't doesn't expect us to report accurately, therefore we are more likely to receive audited) I attach my entire trade report each year; exactly what they do with the newspaper (it was something like 140 pages past time) is their problem...

Originally Posted by ;

IandekokerI only have a small account. I have a account since I'm still learning. I seriously hope that you are not advoing that novices open 30,000.00 accounts without any experience? As for you comments on lot size, I exchange with Oanda, which let me open positions of any size (ie there is not normal lot size). This has enabled me to exchange with money management set up.

No what I am saying is that you just demo the account that you anticipate trading live 1 day.

Originally Posted by ;

I look at it this way. For the little time I have already been tradeing (mini account ) Provided that your not egotistical and your not trying to compete with all the huge majors banks someone can do fine doing Currency Market. I do 25 to 35 pips each day and some times its only 15 pips. Depending if I'm doing two or three lots. I relize this is nothing compare you to all. But from it one can make a liveing in time. You simply need to build it up slowly. Forex is not the only thing out there to invest in. But if you're trying to make a liveing. Just look at what your needs are to live on and try to build up on that. If it's possible to get by on lets say $700.00 a week. Construct your strategy on that then. With about 25 percent more to put off in a saveings account each week or back into your Currency Market account to work with. It all depends on your life style .

Thanks for Your Time

Larry Liles

My buddy I hate to burst into bubble, but you'll never make a living from Currency Market investing in a mini account. In time you and I will concur.

[quote=Pip Rage;1524051]A $5000 bank is perfectly acceptable for a seasoned scalper with one candles and 10 pip ceases during sessional openings.

Ignorance is the greatest obstacle facing any trader.
The smallest edge can be turned into a healthy living with proper trade management and position-sizing.


Oh my buddy I have this feeling you'll lose more than 1 account in future. Warren Buffet doesn't utilize 1minute candles . That's a guarentee that you WILL loose you account. However, like you say ignorance is the greatest barrier

Originally Posted by ;

Don't believe all alone Peter....He began this choosing me first.
The hell of it's it hit way too close to home....
I think most go through this at the begining, fortunatly that has been a couple years back now.

LOL damn so I had to choose two names of actual users on the site....how is that for luck...I hope you see the humor in it...

Originally Posted by ;

A trading platform is a trading platform. They are all the same.

Originally Posted by ;

if you've got a 1 - $10 000 forex trading account you merely conduct forex for the pleasure of it and as a pastime. But You'll Never make a living from Currency Market

Originally Posted by ;

The problem is the trader and his plogy

I'M SERIOUSLY TIRED OF THIS 95% VS 5 percent THINKING

I started with $400 withdrew that account from stupidity, also thank the LORD for It.
I Demoed another 6 months with REAL feelings and started the following LIVE account with again $400, 2 months after I was at $1 000 or $10 a pip

Today I ask the Q https://www.nigeriaforextrading.com/...de-system.html

Enough Said.

Originally Posted by ;

LOL damn so I had to select two names of real users on the site....how is that for luck...I hope you see the humor in it....

I gotta say it craked me up when I watched it....LOL

Originally Posted by ;

I frequently read the trading platform segment to see with what weird and fantastic trading systems folks have come up with. It is entertainment for me. Especially if I see indiors and these screens from god knows where and only god himself can understand. I have found the trend occuring in virtually all the trading systems posted on this forum.

John Doe starts off by stating that he has developed a profitable trading platform based on XYZ doing ABC.

After about 2-3 months and a lot of queries from a couple of acquaintances that chose to follow John Doe's trading platform he subsequently modifies his trading platform or as he puts it improve it for better entrance positions or more pips. So you begin to get a John Doe version 1....and later a version 2. . .and later a version 3....and later on everybody is perplexed.... Such as John Doe himself.

After about 3-6 weeks you will find John Doe drifting the pages of Pete's new trading platform. And after some time Pete's new system goes thru the same phases as John Doe's system. And following 3-6 months you will find Pete drifting the pages of Jimmy's new trading platform. And thus the story continues....

So what's the lesson to be learned here? A trading system is a trading platform. They are all exactly the same. The issue isn't the trading platform. The issue is the size of your forex account. It is how big your forex account that is the BIGGEST OBSTACLE in you way

if you've got a $1 - $10 000 forex trading account you merely do forex for the fun of it and as a pastime. But you'll never make a living from forex. Cause if you exchange standard lots ($10 per pip) then you have just 1000 pips to manouvre with. And believe you me the JPY will take out you . If you exchange mini lots ($1 per pip or smaller) then it'll take you ages to make enough cash to live off

Only if you've got a $30 000 - $50 000 plus forex account are you going to stand a chance of making a living from forex. But you will have to choose your trades.

Only if you've got a 100 000 - $1 000 000 forex account are you going to be among the 5% that creates a living trading forex in the event that you simply trade standard lot ($10 per pip). Cause ONLY will you weather the storm of this market turning against you while still having enough funds to keep trading.

Recall....there is a reason why forex brokers give you the oppertunity to start a mini account of $250 -$10 000 to exchange an unpredictable market. They know the odds are against you. Nowhere else can you find a way of turning $250 in to millions. Forex is no exclusion. There are no short cuts . It is like taking on the Indian Ocean in just a little row boat. You stand no chance. If you wanna venture out to sea find yourself a big enough boat that can weather the storms of the ocean.

It has been my experience that standing trading requires either more capital or smaller position sizes than swing trading or day trading. I must wonder just how many traders actually make the connection between their various trading style, standing dimensions and risk managment concerning maximum lost per commerce.