What percentage profit per day IS possible? - Page 2
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Thread: What percentage profit per day IS possible?

  1. #11
    I think calculating % by each day will make you too many dissapointments!

    I have a goal of how many pips I want a month and when I was to go by days friday could have left me very down in the dumps with the abrupt drop in g/u g/j.

    But overall I had a profittable week, so I think you're better off to look at your gains or losses over a longer term...A lot less stressfull. . imo

  2. #12
    Quote Originally Posted by ;
    I believe calculating % by every day will leave you with too many dissapointments!
    He is talking about an average, not achieving x% day in day out. As someone else stated, better to focus on the trades, and if you're good, the results will soon follow.

  3. #13
    Quote Originally Posted by ;
    He is talking about an average, not achieving x percent day in day out. As someone else stated, better to focus on the transactions, and if you're good, the results will soon follow.
    Yes I see what your saying but to get a mean you have to look at the longer term....

    I increased my account by 6 percent this week but on friday.... 1 day I decreased it 3.63%

  4. #14
    Thank you for your input, I appreciate the thoughts.

    I'm coming to the belief that smaller time frames allow more opportunities to play with an edge on the market, but...

    Trading at smaller time frames (i.e. more frequently) also generates more opportunity for mistakes.

    Thanks! Enjoy the rest of the week-end.

  5. #15
    Quote Originally Posted by ;
    What AVERAGE percentage profit per day is possible?
    Hi Intu!

    What's potential? Yes, excellent question. As one can see in the results of my journal thread, I left roughly (avg) 5% every day for more than four weeks on a 4-figure account, then I left about (avg) 2% every day for 8 weeks or on a 5-figure account.

    Of course, sadly, I have made enormous typical newbie mistakes in the last couple months I'm currently about 60 percent in the gap. Live, remain alive, and find out. Now I'm gauging my achievement simply how well I stick with my Trading Plan. If I do I always earn between 1-5% every day. A day without a big mistake and a serious deviation from my Trading Plan is a fantastic moment.

    So, yes, what's possible? If you can earn 2 or 1% every day for many weeks jogging, then why not for many months and years running? Indeed. It boils down to discipline. It is not tough to do those 2% days for days at a time but it's also easy to let your guard down and have phases of consistent reduction.

    Also, the market changes and also a trader has to have the ability to recognize those changes and accommodate. I had never daytraded before last summer and I came to the game during ranging PA states in the E/U. Then, towards the end of August, lots of spikes leading into the current uptrend caught me. My range trading system was battling a trending market and I paid for that mistake with losses.

    At any rate, I'm learning from my mistakes and from the pain of loss and I believe consistent gains are possible. You could be a scalper or a swing trader or a position trader you could combine numerous trading procedures but so long as you've got a Trading Strategy with methods that have a border, and with sensible risk and cash management egies - and if you can apply the discipline to stay with that Trading Strategy - then you can win.

    Good Luck to those who attempt to remember, if at first you do not succeed, try, try again.

  6. #16
    Percentage profit daily is eternally changing. Better off having an average for the year, but then again it is determined by which year you calculate.
    Last year's profit has nothing to do with the next as no one knows what it will offer.

    Keep it easy and choose what the markets gives you, should you start being specific about a daily percentage you may feel frued once you've got your first daily unfavorable percentage, let's not mention that the mental confusion ...

  7. #17
    The best 10 traders for your October 16, 2009 trading day are all below *. These results aren't month-to-date. They're just for the 24 hour trading day of October 16, 2009.

    http://forexforums.dailyfx.com/352991-post1.html

    1. United States - 466.09%
    2. Canada -352.29%
    3. United States- 348.72%
    4. Canada - 340.38%
    5. United States- 330.34%
    6. China- 241.16%
    7. China - 227.03%
    8. Japan - 195.82%
    9. United States - 195.81%
    10. Canada - 192.01%

  8. #18
    I think the expression scalping has begun to take on a different meaning, much like the expression daytrader. Before, 'daytrading' (or scalping) was utilized to describe someone that bought and sold hundreds of shares of stock, only holding them as little as just a couple of seconds at times. Now it is anyone that trades 4 around ends in a 5 day period. Scalping (in currency trading) has come to mean with small profit targets of 5-10 pips per trade. Unfortunately you don't have Level II quotes in currency (the closest being stocks), therefore these scalping trades might be held for much longer than you can think (compared to seconds, anyway) to realize this profit.

    Unless you are a finance trader, maybe thinking in terms of % might not be the clearest way to contemplate profits. Coming out of a stock/options history, I found it easier to think in terms of trading-day profits rather than % ROI.

    So to answer your quesion in that regard, I think that a fantastic trader can simply average several hundred dollars per trading day (naturally based on starting capital and if money is compounded or removed from the account). In addition, I feel that currency trading allows accessibility to those type returns to the ordinary person a great deal more easily than the stock market, dependent on the initial account balance demanded. It's much less difficult to produce $2500 for currency than tens of tens of thousands stocks (remember, you want a minimal $25K initial sum just to be registered as a daytrader for stocks/options)!!

    My two pips worth...

  9. #19
    Here are 3 good experiments.

    1) would be to get $3000 of risk capital, but just utilizing $1000 at a time.
    Trade using a 50k lot for every $1000 and exchange a volitile pair.
    Do not do a lot of homework, simply have a daily or weekly bias of long or short and just trade in your bias. . .aim to get 40-60 pips per trade. Refill account when empty

    two)would be have $3000 of risk capital using $500 at a time. Trade little lots 10-25k for $500 and commerce on a weekly basis....meaning this week I'm long or short....take 1 commerce and target to get a couple hundred pips....no scalping. Refill when empty

    3)would be have $300 of risk capital and apply the whole amount and trade 3 lots, 375k. Do not do much homework. Have a view of this market and exchange it and go boom or bust. IF you margin call, oh well. . .if you make 150-300 pips. . .great, only exchange 3 lots for a month and see what happens. If you live a month of profits, take away profits above 3000 and restart month. Continue until you run out of money or retire


    of course the inexpensive way is to demo this. . .but if you are trading with risk capital....you might too lose it one of those 3 ways....
    Overleverage
    overleverage
    overleverage

    good luck!


    Sidenote--I'm not advoing any one of those 3 ways as a trading platform, I'm only making the point that in case you would like to bet (yup I mentioned it) here are 3 fun ways to do it and find out a bit about yourself and trading.

  10. #20
    Quote Originally Posted by ;
    Daytrading equities during the internet stock and tech stock boom,... I expect more than show that 1min TF Scalping could be profitable.
    Me too, plus higher margin (just not 10:1 ! That is hard in stocks), all I have done since then. Recall KTEL? Skipped 2y following the big crash.
    Rm/mm, unfortunately, no; lost, largely. A normal trader, just stuck with it discovered technicals interesting.
    I look forward to some information.

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