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1569519 No.1569519 [Reply] [Original]

Is it unrealistic to believe it's possible to make 1% profit on $1000 per day trading forex with enough knowledge and practice?

Is it also unrealistic to assume that if I continued to compound those gains at a rate of 1% per day, after 6 months I'd have somewhere in the area of $7000?

It would be slow in the beginning, and that's obviously not taking into account executions where I'm losing a bit, but can this be done?

>> No.1569532

>>1569519

You can do way more than 1% per day if you're lucky
It always requires luck though no matter how good you are. Also people generally overestimate how good they are.

>> No.1569533

I was being very conservative. But that would be the result wouldn't it be?

>> No.1569734

>>1569519
Sure, it's possible while the environment isn't hostile. Trick is to limit trading activity because I doubt scalpers can pull in 1% net a day usually.

>> No.1569798

Compare Forex with any other trading industry.
Making more than 25% yearly would be considered great, especially if you can do it consistently.

You want to get in a market you are apparently inexperienced with, competing against traders and companies who worked in trading for years.

And you want to make 1% a day.. How do you estimate your chances of doing that consistently?

>> No.1570078

So it's just not possible?

>> No.1570082

>>1569519
1% a day is a 3778% annual return.

>Is it unrealistic
Yes, very.

>> No.1570205

Well unless a person has 100K to put on the line, how is it even worth doing?

What is a realistic daily return to someone just becoming competent on a $1000 or even $3000 initial investment?

>> No.1570214

There will be days you make more than 1% but you're certain to have losing days too

>> No.1570217 [DELETED] 

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>> No.1570334

The trick in forex is to get an estimate fix on the next week's performance of the different currencies in their respective gold valuations. Once you can do that, you will be able to predict the pair with the most tension in it (higher vs lower). Coming week's will be EURCAD. I will be making much more than 1% because this tensión had been accumulating steadily for the last 10 weeks. Take notice and profit...

>> No.1570914
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1570914

Thanks for the tip. I'm only just scraping the surface of this topic. However, I will share something that might be useful to you in the coming months. I'm from Canada, and they are working on passing the legislation to make marijuana legal for recreational use by April 20th (yes, 420) of 2017. Currently it's a $100m/year industry here, but they're projecting it to turn into a $5B/year industry. Something to keep an eye on. To be honest, it's that one fact alone that has caused me to really take an interest in trading. Cheers

>> No.1570960

>>1569734
Can be done with leverage pretty easily, but there is obviously a degree of risk. I've been playing very high risk vs very high reward strategies, and it definetly works in the short term. The key is to take some of the profits at certain goals, and then invest them low risk. Although the amount isn't too impressive, I turned £40 into £500 in about 2 weeks doing this, and have continued with same shit for last 3 months. Have had account wiped once, but have made huge returns very quickly.

Is it sustainable? Kinda..I've been trading Cable which is v.volatile of course, but it's been pretty predictable besides fundamentals, and even with that, you can generally avoid the market at those times if you're not virtually certain on an outcome.

(should note I wasn't using a stop loss, but had a buffer of around 3k pips, which was working fine until the final support level broke lool.)

>> No.1571085

>>1570334

How will eurcad go?
Up?
Down?

>> No.1571473

>>1571085

Down

Expect at least 1.5% weekly downtrend until WTi Oil reaches 55 usd

Use tight stops till you get there and be prepared for a bumpy ride

Godspeed brother...

>> No.1571851

>>1571473

THERE ARE NO STOPS ON THE ALL IN TRAIN
I LOVE MENTALLY TORTURING MYSELF

>> No.1571942

If you want the slightest chance of beating the market average you mustn't be one of those retards who worships Tai Lopez and Robert Kiyosaki and gets suckered by multi-level marketing schemes and forex scams.

>> No.1572140

>>1571851
Why??

Never be afraid to take a profit

>> No.1573277

Seems like there's next to no money in forex unless you have a lot of money to put on the line. If I had $1000 to risk, what is the most sure fire way to turn it into more?

>> No.1573290

1000*(1.01^180) = 5,995.8

Is my calculator broken?

>> No.1573334

>>1573290
No, with 1% returns per day you double your money every ~70 days, in ~140 days you will have quadrupled your money.

The difficulty is in getting consistent returns, not even the tiny minority who do get rich quick off forex achieve this, in fact they don't, what they do is spend hours researching, trading paper, coding and searching for things the rest of the market has missed.

http://www.bloomberg.com/news/articles/2014-09-25/mystery-man-moving-japan-made-more-than-1-million-trades

>> No.1573792

>>1573334

Yes sir, we do...

10 years already making at least 45% on my initial funds. Lots of mistakes in the process, stupid ones sometimes, but all worth the outcome

>> No.1574809

>>1569798
>Making more than 25% yearly would be considered great, especially if you can do it consistently.

not if you're trading intraday as the OP seems to be indicating based on his interest in daily returns

% returns become a bit meaningless when it comes to intraday strategies as they often have limited capacity. Strategies that return high %s and don't require huge amounts of capital tend to be kept in house for obvious reasons.

having said that the OP is likely trading via a bucketshop so is losing some significant edge in execution, he's unlikely to be profitable...

>> No.1574825

i trade forex manually with a very conservative margin around 10/1. , its consistent gains daily if you spread your buys. Not huge profits though.. a few cents or dollars here and there.

im sure some people who trade forex with bots and max margin make better gains.. but i like playing it safe, and i have no idea how bots

>> No.1574854

>>1569519
You define whats realistic. You're posting here in order for someone to validate your opinion.

>> No.1575804
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1575804

>>1572140
>>1571473

I-it'll drop again, right?

>> No.1576999
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1576999

>>1575804
Chill

This is the graph and timeframe you must follow

It will go down, because CAD is Linked to commodities and oil specially

Just wait for OPEC to freeze output

Everything is going as planned, but use tight stops Anon. Take your profit and get in when it gets choppy...

Trade smart

>> No.1577079

>>1575804

By the way... This is my third dive into the pair since I got in on the Asia opening and my profit Is over 150 pips total. Thats why you have tight stops.

The all in train will eat your margin on a spike, and this is a pair and a moment due for wild swings regardless of the big momentum driving it.

Cheers