Nice, you're crushing it. You ever think of stepping up to 6E?

I opened a futs accnt with IB earlier this year but I never traded and ultimately with withdrew my 10k and closed my account. I needed time to get up to speed with the platform and the commission break wasn't really there vs. Fx spot. If I ever go full time, I'd like to go 6e. You trade it? If so, what platform?

What would be a realistic profit for a good (average) trader per month /w let's say a 100k bankroll?

A friend of mine says that is no problem to hit 10k profit monthly with 100k roll and a lot of trader do that. Seems silly for me, but let's ask the pro.

Thanks and gl!

I'm no pro. I shoot for 2-3perc/mo.

I have to smile a bit at 10perc monthly roi...if he can back that with statements, he would have more money thrown at him than he'd know what to do with. My bankroll included.

Thanks for the gl!

I'm an equity trader but I don't trade forex. It's definitely possible to make 10% per month depending on your account size. Most strategies aren't very scaleable so the size of your account isn't that important. 10k in a 100k account is very possible.

I won't disagree with possible. But day in, day out, over the long term (even on a smaller account), would put you in the top 1perc of traders. My opinion only based on my experiences, conversations, etc with other (retail) traders.

& thanks for the comments guys, nice to have others chime in.

EU

Limits just triggered on this one..

This was a great level but unfortunately my TP was missed by 1point. I closed manually for -5pts on one position and breakeven on the second.

Next up tonight...

Great level, missed my order by less than a point.

I expect this gap to fill shortly followed by a long bounce as shown.

Spots I'm interested in

It's totally dependent on skill level and the quality of your analysis. Spot FX and FX futures offer more than enough leverage - capital is not likely going to be your biggest problem IF your analysis is on.

That said, the average retail FX trader is just plain horrible - some stats I saw from a retail firm suggested an average loss of about 15 pips/trade, with an average of a couple of trades per week. So on one E6 contract or the spot equivalent, average losses are about $375 a week. Figure 10-20 contracts on that big account, and you get the idea of what's typical. Now you see why spot FX internalizes their customer's trades!

In order to convince me you'll do better, you'd have to convince me you have actual skills.

someone please ban this idiot

bumping this thread, maybe op can give more updates

Sure, I'll post a thorough update shortly.

i didn't see any gaps today. is it okay to use 1 hour charts? the gap should be at least 30 pips right? am i looking correctly? (i'm unexperienced)

I no longer trade actively, closed shop last year after a 20% drawdown, started buying single family properties and renting them out in Northern, Ohio in addition to flipping properties. Much happier now, lower stress, less hours, consistent cash flow, more easily scalable, etc.

A bit on what I do now in this thread: http://forumserver.twoplustwo.com/30...21/?highlight=

I still watch the charts, miss trading but after six years, I needed something more stable and less intensive. I still average 300+ hours/mo with my day job along with constant travel.

The charts I was posting last year, buying and selling at support and resistance areas as indicated by price action is still quite viable. I may post a chart every once in awhile to demonstrate.

Good luck!

Is following a signal profitable?

My friend claims that he can make profit following a "winning" signal (some of them cost a small monthly fee). He has an automated system that copies the trades of the winning signal.

If I invest in that, is that +EV? Theorywise that shouldn't be possible, but markets in reality arent perfect.

While waiting for a retracement back to a broken S/R point is very tempting, it is ultimately a deeply flawed strategy. The BEST trades penetrate a level and keep running, never looking back. By waiting for the retest, you are de facto eliminating the best trades from your basket. Much better to focus on identifying good breakouts and jumping on with a tight risk point. Easier said than done. Simply put, every tick a market moves back against the initial thrust, the greater the chance the move is going to fail. By waiting, you are actually scanning for markets that have a higher failure rate. The best trade of the year has been short WTI, imagine if you waited for a meaningful retracement, would have missed the whole thing by seeking safety and "value".

Quick edit, the above advice is mostly for commodities. Stocks have a much higher propensity to back and fill than true commocities.

I trade S/R breakouts all of the time. I never use the break/retest and always take first penetration. Sometimes you get chopped to smithereens but those real movers are where you make the money and like you say the never retest they just RUN.