do u think if 15-25% return on capital constantly every month is good?

yeah what happens if you tikam wrongly.. hahahaha

it can go boths ways.. i see renko chart

This is where money management come from, and if above system have good risk to reward ratio, being wrong is okay, just accept it and and move on. It is good to see people trade using daily chart, same as I was.

1pip = $10 is huge profit but also can make you faster going to hell. Huge capital is different story.

all systems have their good times and their bad times...

some system good at ranging markets.. some good at trending.. some good at counter trending and etc...

1 thing for sure is.. you will get hit/make looses cause the market can have its PMS...

if true traders uses money mgmt to grow.. what abt "common" traders ? they use what to grow ???

usd 30k ? would be good for 1bux/pip..

for anything 10bux/pip i would suggest 100k...

Major pairs plus EURCAD, will add more when my capital increase

IMHO, the only way to measure forex profits is by trading for a period of at least one year sticking to ONE trading method. Calculate your profits based on ROI in one year period instead of how many % per month.

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Added on October 4, 2010, 8:35 pm
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Even if you MASTER all these indicators/techniques/systems, you have only mastered 5% of forex success. ...Think about it, if indicators are the secret to forex success, then all these "professors/gurus/experts" who teach these indicators should be the most successful traders. But are they?

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Copy and pasted from somewhere on the net..............

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Added on October 4, 2010, 8:36 pm

Trend trader aka turtle trader, with renko chart. Parameters will be kept for my self because I am stingy.

I don't know whether you are trading now or not but if you have been trading  for the last 2 hours since the London market opened, EU moved 100 pips (view attachment below). If you could not scalp at least 25pips out of that move, you should not be scalping.

New forex traders should spend time at www.babypips.com and not here. My advice was not for new forex traders. It was an answer to a question whether 50% per month is doable. New forex traders would not be aiming for 50% unless they are seriously delirious about FX.

This is only the Asian/London overlap. More to come at the London/US overlap. For scalpers, overlaps are the best and only trading times.

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Added on October 5, 2010, 5:36 pm
These are very short scalping trades.

182685181 2010.10.05 05:07 sell 0.86 eurjpy 114.581 0.000 0.000 2010.10.05 05:08 114.509 0.00 0.00 0.00 73.97
182685247 2010.10.05 05:07 sell 0.86 usdjpy 83.741 0.000 0.000 2010.10.05 05:08 83.699 0.00 0.00 0.00 43.15
182685454 2010.10.05 05:08 buy 1.03 gbpusd 1.57593 0.00000 0.00000 2010.10.05 05:08 1.57803 0.00 0.00 0.00 216.30
182687525 2010.10.05 05:25 sell 0.87 usdjpy 83.743 0.000 0.000 2010.10.05 06:30 83.707 0.00 0.00 0.00 37.42
182688000 2010.10.05 05:33 sell 0.87 gbpjpy 132.518 0.000 0.000 2010.10.05 05:37 132.492 0.00 0.00 0.00 26.99
182689168 2010.10.05 05:41 sell 0.87 gbpjpy 132.528 0.000 0.000 2010.10.05 05:50 132.492 0.00 0.00 0.00 37.38
182690046 2010.10.05 05:52 sell 0.87 gbpjpy 132.502 0.000 0.000 2010.10.05 05:56 132.464 0.00 0.00 0.00 39.46
182690849 2010.10.05 05:59 sell 0.87 gbpjpy 132.525 0.000 0.000 2010.10.05 06:21 132.481 0.00 0.00 0.00 45.70
182693746 2010.10.05 06:25 sell 0.87 gbpjpy 132.510 0.000 0.000 2010.10.05 06:29 132.477 0.00 0.00 0.00 34.30
That looks more way more than 25 pips in less than 2 hours. Best thing about scalping is that by the end of these 2 hours, all your trades are closed, profits taken and nothing to worry about for the rest of the day.

Gold is flying high again. AUD and gold price are tally.

[attachmentid=1819403]

When I lose a trade, it is only 10pips (12 including EU spread) and that is only 1.2% of my equity. I convert scalping into day trading when the opportunity presents itself by moving to BE the moment I make 10pips and then let it run (and locking in profits with jumping stops after that). However, most of the time I would take out profit and immediately go into a reverse trade (keeping in mind that the market moves in micro and mini waves even when it is trending). So sometimes when I'm chasing the market, I can get into a row of losses -12, -12, -12 and then get it right with a +50. Sometimes it's up and down with -5, +15, -12, +10, +13, -2.

It all depends on market conditions. I do not use only technical but I combine it with fundamentals as I try to convert as many scalps into day trading if possible to maximise profit. I use scalping as an entry but not necessary the exit.
DISCLAIMER: Before the next joker comes in and yell "THis is a JOKE", please note that I'm answering a direct question to a member and this is my answer to him and not to every newbie or experienced trader. Don't read this if you don't like it. I'm not asking you to follow. It's just a bloody answer to a question.

I have 1m/5m/15m/ screen. I also use pipware dashboard and all the direction of the other timeframes are all on the same screen. I don't have to flip so much.

About currency wars, do u guys think the world will shift its currency to the renmimbi as their currency of exchange?

Heres a food for thought, i rad Market Wizards by Jack Schwager and found out that the legendary traders only have an annual average return of 40% to 60% per year. So i was thinking if great traders only return that much, how is it us individual traders be more profitable by them by putting a 'goal' of lets say, 100% annual return?

I am still holding long since 13047

[attachmentid=1869176]

I will take profit when the trend change, when the trend will change? I don't know....but my trading system will tell me. Is the trading system can accurately predict trend changes? NO.....but the most important thing is you cut loss(small loss). Trend will surely appear one day, your big profit will cover your small losses, this is what we call good risk to reward ratio. If your system have good risk to reward ratio, please stick to it like you stick to your gf/wife/games or whatever XD

Whether you can stick to your system, have faith with your system, willing to take losses, this will determine whether you are a winner trader or loser trader.

Btw, I am not trying to brag or act good, just share my PERSPECTIVE in trading the financial market. Anyone can critic or comment against me

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Added on November 5, 2010, 4:23 pm
We keep the position size aside, it really depends on how much capital you can afford, that differs if you are high income consultant or businessman compared to a college student. But the correct trading mentality is a must if you want to win money. Another thing is your tolerance level against risk.