kwanann wrote:I'm guessing a bounce off the 240, so if i take it, will be a short

kwanann wrote:

garyfritz wrote: Bob consistently reports 1% or more, per day, with VERY few losing days.

1% per day is about 20% per month.

If you can't make a living with 20% per month, you're not likely to make a living with ANY trading approach.

20% a month, means i double my capital every 5 months. Sure MAYBE i can't earn a living with 1K starting capital. Give it 5 months, it becomes 2K, in a year, 4K.

Now stretch that over 5 years, give or take a losing year, you will have a nice nest of at least 30 to 40K at least, which means you can easily take back 6K a month, is that enough for you to live on?

viper77 wrote:I´d love to see anyone ALIVE making not 20% per month, but 8% in average consistently for at least 5 years...
I´ve been using realistic EA´s for many years and have yet to see more than 20-25% per year with a bearable DD, and that´s a great milestone, so for me 20% per month or so would be directly in the reign of miracles and anyone achieving that consistently for years deserves a Forex gold medal in my humble opinion...

kwanann wrote:

garyfritz wrote: Bob consistently reports 1% or more, per day, with VERY few losing days.

1% per day is about 20% per month.

If you can't make a living with 20% per month, you're not likely to make a living with ANY trading approach.

20% a month, means i double my capital every 5 months. Sure MAYBE i can't earn a living with 1K starting capital. Give it 5 months, it becomes 2K, in a year, 4K.

Now stretch that over 5 years, give or take a losing year, you will have a nice nest of at least 30 to 40K at least, which means you can easily take back 6K a month, is that enough for you to live on?

nanningbob wrote:
First I trade very small lots. A trade would have to go over 300 pips in the hole to equal 1% of my account. Most currencies wont do that in one week especially if I stay on the side of the trend. So I minimize my losses so they cant hurt me. Yes I can get enough losers to lose money in a day, week, or month but they wont kill my account. So it becomes a numbers game for me. (think of a blackjack player who is allowed to count cards, he will almost always come out on top)

Here is how I play the odds. If price crosses the Weekly pivot what are my chances of making a profit. To see this study clean off all indies and just have the WP on the screen. How many price moves make some kind of profit every time it crosses a WP, no other indies. The answer is most of the time.

viper77 wrote:Wow, your posts are pure gold!
Just 2 simple questions:
Which broker do you use that lets you 0.001 lots? Is that what you have right?
My micro account won´t let me trade anything lower than 0.01, and on a 1k account 300 pips in the hole as you said would mean 3% of the account, basically the triple...
Do you use MPTM or similar to manage so much trades at the same times to avoid being glued to the screen all day once you entered or just check them every 4 hours?

Thanks!

nanningbob wrote:
First I trade very small lots. A trade would have to go over 300 pips in the hole to equal 1% of my account. Most currencies wont do that in one week especially if I stay on the side of the trend. So I minimize my losses so they cant hurt me. Yes I can get enough losers to lose money in a day, week, or month but they wont kill my account. So it becomes a numbers game for me. (think of a blackjack player who is allowed to count cards, he will almost always come out on top)

Here is how I play the odds. If price crosses the Weekly pivot what are my chances of making a profit. To see this study clean off all indies and just have the WP on the screen. How many price moves make some kind of profit every time it crosses a WP, no other indies. The answer is most of the time.