nanningbob wrote:May be i'm wrong, but it's my way to be safe and wise. So i sleep well.
I only made 6,5% profits for the month of may, it's really bad compared to other guys performances but I only faced 4% floatind DD, which is enough for me. And It's 6,5 % live money.
I'm cool when week end is here.
I don't want 50% by month, 10% would be really great.
I guess it's much better to learn how to earn 10% each month of the year, rather than trying to earn 50% this month.
I have traded the last 3 years with a goal of 10% a month. 10.4 has opened a whole new world for me so that was my goal for years. That is a great starting point, If you make 5-10% a month you are doing better than the best money managers of the big funds. They try to get 10-30% a year. So having reasonable attainable goals is the best way to learn this business. While you make your 10% month you learn the business, dont risk your account, and can become a millionaire in 4-6 years. That my friend is a very reasonable goal.
One of the worst things FF does is have a page of the top 10 traders. You see these guys with 100-400% increases in their account. What you dont see is they are gone the next month along with their account. It creates unrealistic expectations. You have my full support and praise for your goal. 6.5% is a good month and dont let anyone try to convince you otherwise. There are no investments, well legal ones anyway, where you get those kind of returns. Stay in there and keep those goals attainable and reasonable. When you reach your goal, reward yourself and spend some of it on something you like to do. I am going to London end of June as my reward for my trades in May. My wife loves those results.
Just to add... A monthly return of 6% compounded for 12 months equates to 100% return annually!
I personally have a goal of 2% per week... This allows me to have an off week once every so often and still know that I am well on track to doubling my account every 12 months
10.4 has made this possible and all with my floating DD normally less than 5% but never more than 8%
With these kind of returns and minimal DD the equity curve is very smooth... add some track record and you are set for life!
Thanks again Bob!