i used to get 8 times in stocks and that was enough to get killed 50 and 500 are ridiculous even with 50 you need perfect entries and exits. i am getting slaughtered with 12 years 24*5 experience this month was an anomaly i was lucky you are just getting retired in some other field so my suggestion is by all means do FX but do not put more than 200 usd and trade smallest lot size till you know what it is about
have you got these results trading intraday? that is the toughest to do.if yes then start coaching that is risk free it took me 12 years of trading to get one month of profit..this is first month i will have made a profit. one day to go if i do not blow today I NEVER TRADED FROM MY CAPITAL ALWAYS INCOME IS THIS 80 K INCOME? intraday unarmed and dangerous
Did you not read what I wrote? ..."Don't get cocky. Humility is key now if you wish to keep those gains." My last warning to you on this, because you are now getting way too cocky for your own good. Especially with Forex. I mean, look at this..."it took me 12 years of trading to get one month of profit..this is first month i will have made a profit." Keep those gains! Tone it down.
is this cocky....are you serious?....to make a profit is cocky is it? after twelve years of losses? admitting to twelve years of losses is cocky?
To make a profit and boast about it, and think you can keep repeating the feat, is cocky. Remember our pm. I'm just trying to help you, sir.
I have never traded anything BUT intraday. Stocks only, too. I concentrated on that market alone. Paper traded a bit, read a bunch of books, and traded small and live. Started with $10k. Made a great first day. Made a couple of withdrawals. Lost a bit, won a bit, lost a bit more, got kinda down but not bad, back up to almost where I started and now a lot of things have clicked for me and I have corrected the mistakes that were holding me back. Next Monday will be a trading day. I can only make three trades every five days. Monday I can make my three and the results will determine whether from my retirement funds I only put the minimum necessary into trading to circumvent that PDT limit, or load the boat. If I either don't trade because I don't see a good setup, (IMHO a good and wise thing) or I trade and see a 1% return in a setup that WOULD still have worked even with 10x the position size, then I will go all in. Otherwise like I said I will just bring the account up to $30k or so and trade it up the hard way, and invest or swing trade the rest of my nest egg more conservatively. GF is a pretty good swing trader, always beating her managed 401k by 2x. (before taxes LOL) so we can collaborate a bit on that. The initial 10k was income. I do okay when I am working, making after taxes between $6k and $10k per month. I usually work 3 to 6 months and take 2 or 3 months off since when I am working I do not have days off and cannot even go home. I could have gone in for the full amount needed to fully fund my account but I made a lot of purchases for my shop and my boat. A boat as you may know, is a hole in the water lined with fiberglass into which you throw money. But here in Louisiana of COURSE you have a boat if you are a real man. And I do love that boat. I will be selling the old one but it won't bring much. GF wants to sell hers so we only have one boat. Boat people, that's us. But the $80k+ is capital and it will be traded with due caution. I will still have my union pension and also my social security, and GF makes around $160k/yr including her bonuses and stock gimmes, so I don't think putting all my lump sum payouts in my day trading account is particularly reckless. It is money I would not LIKE to lose but it is not money I cannot AFFORD to lose. I will also no longer be tempted to load the boat on one or two stocks. I can stick to my risk management plan, knowing that there will always be another trade tomorrow. With the PDT rule, you have to make your profit not only with a small account, but with a very limited number of trades. It makes risk management look kind of impossible or unattractive. The paradox is supposedly the PDT rule is to protect small traders/investors. But it has the opposite effect. If you don't bet out strong you make nothing. You lose little, you gain little, and make no headway. You want to grow your account, you got to bet out. Being able to trade every day would make a proper risk management plan look a lot more sensible. Necessary, in fact. A lot of things are necessary but at the same time impractical. Risk management, the way we like to think of it, is one of those impractical things, when you can only make three trades a week. But having a decent account to work with will make keeping risk down to say 1% or 2% per trade, very realistic and practical. It also makes trading mid cap, higher float, medium price stocks a lot easier to trade. Pennies can be brutal but If you want to not put more than say 10% of your account into any one trade, with a small account, and want to see some decent returns, the pennies are often the game of choice. In the back of my mind was always the possibility that on a long position that trading would be halted on that stock and when it resumed, I would have lost a thou or two. Or more. In fact that did happen, but the stock came roaring back and I did okay. Still it can certainly go the other way and usually does. I had a lot of fun trading penny stocks but I won't look back, when I am trading in the $10 to $100 range. So yeah, I managed to not tank my account, even in a high risk environment, and now out of the trenches emerges a slightly tougher and smarter trader, who at the same time has the resources and savvy to manage money and risk. I think it is gonna work. If some evil wizard cast a spell on my account and made it suddenly disappear, I would still be okay and would be trading again in a year, at the most. Coaching? LOL I don't feel qualified to coach new traders as I am pretty new myself and the market is pretty crowded with coaches already. Here in the US, it is said that "Those who can, DO. Those who can't, TEACH." LOL. There is too much BS and hustle in the "I will make you a successful trader" industry. I don't want to be a part of it, and if I am being a good trader, I will not have time for it. I don't want to write books or make sales pitches for my website or forum or webinars or courses. I just want to trade, and do it well, and at the same time make my razors and become known as a great razorsmith. If I wrote books and coached I would just be one more among many, and it would depress me to know that the only GOOD and PROVEN advice I could offer, is also offered verbatim by a hundred other guys. It would shame me. I would rather have it said I was a card cheat or a bouncer in a whorehouse or a sewer cleaner or a drug dealer or a garbageman or a pickpocket or a gambler. Oh, wait... LOL
you want me to hide it...did i say i can or that i cant i am posting all my trades i am helping traders realise that the market can be beaten. work hard that is my message my method is not ideal for you....find your own way i am encouraging a few traders like you they have pm.ed me also