Thread: Day Trading - Can I Make 10% a Month

Originally Posted by ;

good luck, we're both in the same boat brutha
I've been doing real well with utilizing Div's method, I utilize the fundamental principals of his system and then made a few small modifiions that work for me.

Hello,

Thanks:--RRB-

How long have you been trading this system for? I also saw you made 14% a week, which is fantastic, do you risk 2 percent each trade?

Do you mind sharing your modifiions? And they improve things for you?

I'll message you in a few mins...

I have not had time to update this within the past couple of days so that I'l do a sort of weekly review .

So I have trade a total of two weeks this week and things pretty much carried on the way I left the previous week. In total I took 5 transactions this week. 2 Winning transactions and 3 break.

Unfortunately the very same habits are creeping through to my trading which is my lack of ability to stay with the transaction. Just 1 of my two winning transactions were for the full amount with me bailing early on the other.

I missed out on two additional wins with my two of the three break even transactions going on to make my profit target.

So below are the figures.

When I Stuck into The Rules Trading Summary

Total Trades to Date: 13
Caution: 10
Partial Win: 0
Break-even: 1
Partial reduction: 1
reduction: 1

Trading Summary

Total Trades to Date: 14
Wins: 4
Partial Win: 3
Break-even: 6
Weight reduction: 1
reduction: 0

OK so lets try and analyse these figures.

If I had of stuck into the rules and stayed with the trades assuming I took the 2% risk that's what a few of the other my experienced men are taking and I intend to take once I've built up experience using this system. I would have made 17%.

Rather by breaking the rules I would maintain 10%.

So either egy would be affording me profits but sticking to the rules unsurprisingly yields a great deal longer.

I think that this is really a really useful exercise as it actually shows the difference between what could be achieved should you exchange correctly, like a robot and what's achieved when you begin to let your emotions get involved.

So these outcomes are after 2 weeks live trading this method. Now lets look at my goal of 10 per cent a month. First of all it's clear that this is achievable, however, the question is what kind risk do I need to consider in order attain my monthly goal.

So by risking 2% my very worst scenario is the 10 percent as stated above which would put me on goal to get a 20 percent month. But if I stuck to the rules and not got scared I would rather be on target to get a 34 percent month. Obviously we can not state for certain that the following weeks will follow what I have attained these past weeks but my testing does seem to suggest it would.

So at 1 percent risk I could attain my 10 percent a month goal how I am currently trading at which I would only require just over 0.5% risk in order to achieve the 10% by sticking to the rules.

Mmmmm interesting...

I really could get used to this:--RRB-

Another great day trading. It ended up being a tiny slow beginning but I finally managed to enter some valid installments and required profit for the day.

Once I sat in my desk this morning the charts seemed to indie they were moving backward. Then we have a break to the upside, followed by a pull back. I required the EJ long following this pullback. The transaction went almost instantly coming to within a pip of my stop. It then hastens but only to about 10 pips, I brought my stop to BE 1 and got taken out. This seemed to be a fortunate escape since the EJ continued to move lower throug from the semester.

The downgrade of Greece delivered the Euro tumbling and the Pound also begun to get rid of ground. I saw a pull back in Cable and got in on the first signal candle. If I'm honest I rushed the commerce a little and that I could have waited to get a more clear cut opportunity and the following price action demoned that as the commerce took a long time to perform. But not the less ultimately it did and it paid me well.

So another Fantastic day trading with this system, lets hope this can continue:--RRB-

When I Stuck into The Rules Trading Summary

Total exemptions to Date: 15
Wins: 11
Partial Grow: 0
Break-even: 1
Weight reduction: 1
reduction: 2

Trading Overview

Total Trades to Date: 16
Wins: 5
Partial Grow: 3
Break-even: 7
Weight reduction: 1
reduction: 0

Good fortune to you. I will leaving my job August 2012 to exchange full time. I have a goal each week. It's possble if we don't get impatient and over trade. We have to stick to our egy. Fantastic luck.

Dcb,

That is Fantastic! That is the fantasy I think of everybody. How long have you been trading for?

What is your system? It's like the flag trading fad technique?

Pip

Originally Posted by ;

,

That Is Excellent! That's everyone's dream I think. Just how long have you been trading for?

What is your system? It's like the flag trading trend technique?

Pip

I started trading futures 1998, and I started trading FX in 2002. I moved to FX because of the liquidity and the trading hours. I exchange the London open, 0700 GMT into 1100 GMT. I exchange by simply taking a look at the price patterns, no indiors, only TLs. My goal each week is a minimum of 40 PIPs gain. I exchange enough lots that will give me a 10% gain each week.

Originally Posted by ;

I began trading stocks 1998, and I started trading FX in 2002. I transferred to FX due to the liquidity and the trading hours. I trade the London available, 0700 GMT into 1100 GMT. I trade by simply looking at the price patterns, no indiors, just TLs. My goal each week is a minimum of 40 PIPs gain. I trade enough lots that will give me a 10% gain weekly.

Wow 10 percent a week!!! That's amazing! What is your stop size?

Perhaps you have always managed to achieve this? If so for how long?

Originally Posted by ;

Wow 10 percent a week!!! That is wonderful! What's your stop size?

Perhaps you have always managed to achieve this? If so for how long?

I currently do this, however, it was a battle. I must stay on my plan. I try to use a 20 PIP prevent reduction. I use the H4 bars to try to detemine direction, but use the H1 or 15min bars to input. I use an entry order. I do not use a market order. I move my SL because the price moves to the positive for me. A few minutes ago my entry order to buy the E/U has been triggered. When the price moved to a 8 PIP gain, I moved my SL only above my entry. The price came down and hit my SL to get a 1.3 PIP gain. I did that since the market is rather undecided this morning. Some mornings I do not place an order.