Any young newbie traders out there?

[leonardb]

as it was in my original post ..

As it has been said: Yes this is a highly profitable market, but by the same system that makes it can lose it; its more about you understanding your trading rules and obeying them. This also includes testing your system for a long priod of time and figuring out if the problem is you or the system ..

[FXAnalytics]

Originally posted by gregh285
fxan,
20% per annum is very poor return for a profx trader, what leverage are you talking about.
At 5:1 on a $20k account trading 100k lots you need 170pips per month to achieve 100% return.

I dont know what way you trade but 170pips month is EASILY achievable.

Greg - go review Barclay's CTA Ranking Index and tell me how many "Pro" traders you see kicking out 100% return a year... Although I've only been active in forex for four years I've been in the equities and futures markets since 1987 and I've never, ever seen anyone be able to turn out 100% a year, year in and year out... It's not EASY.

I guess we can just agree to disagree on this; when you've put together a five or six year track record of 100% returns, I'll have to eat this post with some crow, but until then, history is on my side.

[FXAnalytics]

Originally posted by shuum
as an engineer, perhaps we beleive our analytical skills will be a benifit in FOREX trading since many of us are used to graphs, charts and performance reports... i know its a whole different ball game in trading... i was just wondering how much capital all the other young self starters here are willing to put up to give this a shot... the 300K the a previous poster suggested to put up for a 50K return doesn't seem reasonable... who at our age has that kinda cash anyhow? well, im thinking 5K US to fund my new account and trade mini for 6months - 1 year until i can generate consistent returns... im thinking say $1000 a month is the goal at 50:1 leverage.
Is this realistic? your thoughts and your money management strategies are aprreciated. TIA

as engineers you actually have a great advantage because of your math background. Transitioning to financial calculus will be a walk in the park... I wasn't suggesting that you start with 300k. I was mearly trying to point out how large an account would need to be in if you wanted to live off your account given a specific income and reasonable return.

[andrewmooton]

FXAN........for just 25 pips a day I could make 25% A WEEK.

For example, if I started with £1000 and traded at £2 per pip I would only need 125 pips a week (which is 25 a day)to make 25%.


If I then compounded those profits and adjusing my stake with them and getting as consistent 25 pips per day I could make a million in about 31 weeks.

[andrewmooton]

I speak with many people who do, bunnygirl for one when she was in the chatroom proved to me beyone doubt that it is indeed possible.

[stoneroses]

yeah, im 24, graduated 2 years ago and im trading forex full time.

good to hear mate.

[jeffizcool]

yeah, im 24, graduated 2 years ago and im trading forex full time.

good for you. would you mind telling us how you got started capital wise(money management or etc)?

[leonardb]

stone you use some signal providers correct?