Hi Vahid and all traders,
First off I'd like to congratulate Vahid on the membership-- almost 500 now
I remember when I first started on the new Forexoma there wasn't all that many members and then all of a sudden there were 200 and now almost 500
You certainly do run a good service.

Now my question is this--
What sort of performance can we as traders expect once we break out of nappies?(diapers)
70% 80% 90%???
Mine at the moment is 63%
Cheers
Ian

Hi Ian,

Thank you

Performance can be different from trader to trader. While a trader doubles his money every month, the other one is happy with a 5% profit.

Something which is more important than the performance percentage, is consistency. It doesn't make me amazed if I hear a trader has doubled his money. But if I hear that a trader has been making 5% per month, every month, for the past 5 years, I will say "Wow!!! He is such a great trader."

Your 63% performance is really great. Congratulations!

What do you mean by performance?
Yours is 63%, but of what? Winning trades? Gain on bank in 1 month? 1 Year? Average gain per winning trade?
If you are increasing your bank by 63% every month, that's really good going

Keith

Hi Keith
I should have been more specific.
By 63% I meant 63% of trades are winners 47% are losers.7/11
That's only this year by the way by following Vahid's lead
Some trades are from his set ups others are my own.
Cheers
Ian

Hi Ian,

I thought you are making 63% profit per month.

63% winning trades is still good but you should improve it. 80% winning trades at least is a good result.

Hi Ian

Thats a good record so far. Even more impressive because it adds up to 110%

All the best

Michael

He he, oh yea
By the way I'm the one in you're avatar

I think that it really does depend on which Risk/Reward ratio you usually use.
Eg, Using the 1:0.75 ratio

Stop at -100
Take half profit and reset stop to B/E at +50 (target 1)

If you have a series of trades with this R/R ratio that fail to progress beyong target 1, you would require 80% winning trades just to break even.

If you usually trade with 1:2, then more than 60% winning trades would be excellent

Good luck

Keith

You Wish!!

It took me years of study and practice to get that smart

Michael

lol.... Michael am cracking up wif laffter... You know it varies from one individual to another when it come to 4X... For some people it takes less than 2 years to attain what others have been working on for the past 5 years.... Dont forget that 4X has alot to do with the human subconsciousness and control of our emotions.... These are human attributes some people might never outgrow and thats why 4X is not for everybody.... All the same, it aint easy being an FX trader... I repect through Samurai's in the act....

Too true Lordpipi

Vahids post about the researcher and the taxi driver really opened my eyes.
http://www.forexoma.com/forums/forexoma-live-market-analysis-main-thread-2-720.html#p3358
I am very much the type of person who spends too much time on refining the system and too little on practicing it. I have conquered other personal and emotional demons and share dealing and Forex have shown up some more I am working hard at resolving.
It is my experience that by practicing actions that others learned and passed on to me I can change the things about myself that I need to. For trading it is the usual culprits - Fear and Greed.

"If you sow a thought you reap an act; If you sow an act you reap a habit; If you sow a habit you reap a character; If you sow a character you reap a destiny."
~ Buddist Proverb

Michael

Thank you Michael for the insight of the taxi driver... I do seriously agree... Forex is truely more psychological than analytical and that why RSI, Bollinger bands, Stochastics, MACD's and all other parameters are not 100% full proof of the direction the market would go...

When you trade the market, you trade against millions of trader's thinking pattern and thats why there is still no robot that can predict the pattern of the market because the human psychy surpasses any of those robots...

I kinda look at the market charts like brain waves of traders and the Gospel truth is being able to ride with these waves is sure way to slashing good pips...