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What Returns Do Traders Make On Their Money (The Truth)
FREE: The Complete Price Action Strategy Checklist: http://bit.ly/2wSHj8N
In this Forex trading vlog, I share 5 extracts from previous trader interviews on what return experienced traders make with their money. Vlog #209.
//Interviews
1. Tony Sycamore: https://www.youtube.com/watch?v=iX3ZF5_viNg
2. Siam Kidd: https://www.youtube.com/watch?v=HN9EcO0LBmw
3. Steve Patterson: https://www.youtube.com/watch?v=HezJ_Whx6dE
4. Troy Bombardia: https://www.youtube.com/watch?v=oi0odwJaQCU
5. Mike Tedeschi: https://www.youtube.com/watch?v=FXPplJI8N3g
I felt the need to do this compilation video as I see a lot of people having unrealistic expectations when it comes to the return they can make from day #1.
If you start with expectations of high return, you are very likely to waste time trying different systems and giving up when the system doesn’t provide the returns you were expecting.
Not only that, but I see many new/aspiring full-time traders risking way too much on any single trade.
Those traders believe the only way to make a lot of money is to risk a lot…and they’re kind of right. But they forget that more risk means a higher probability of failing at trading full-time.
As trader & author Brent Penfold says, you must “understand the risk-of-ruin, make it 0% & learn to be the best loser.”
As soon as your risk-of-ruin in trading is greater than 0%, you are adding the possibility of blowing up your account to the equation.
That should be a trader’s #1 priority…to protect the capital.
Prop firm trader Samuel Leach even says that what he looks for in a trader aren’t high returns. Instead, he looks for a good “Return over Risk multiple”.
How is this video making you change your mind? Do you agree with the information shared by those traders? Comment below and let’s keep discussing!
Forex Trader Community (Facebook Group): http://bit.ly/2esoMYj
// About Me
My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
What you must know: I’m all for trading foreign exchange, but I think freedom is much more important than time spent in front of your computer.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That’s why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
// You Might Also Like…
This Guy Tells You Exactly How To Trade Forex Full-Time And Make A Living! – https://www.youtube.com/watch?v=P6H6VHP5fX0
I Met Up With A Professional Trader Today (Invaluable Advice)! – https://www.youtube.com/watch?v=svkcsO2vzys
How To Create Your Forex Trading Strategy & Make It Profitable… As I Explore West Lake In Hangzhou – https://www.youtube.com/watch?v=Zb5X7k2JanY
Complete Trading Strategy With The Engulfing Pattern – Price Action – https://www.youtube.com/watch?v=WqTrn92CFBw
// All Products Used In This Video
Sony a5000: http://amzn.to/2sbMO11
Joby GorillaPod: http://amzn.to/2r0xqQo
Editing software: Final Cut Pro (Mac)
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Forex Algorithmic Trading Returns, What Returns Traders Make On Their Money (The Truth!).
Is Quant a good career?
Being a quant in a bank is a good as a job, yet not as a profession.” … The desk quants develop rates versions for these derivatives. They likewise develop versions that develop techniques to guide trading choices which make traders a lot more effective. But desk quants in banks aren’t in fact traders.
Recommended Book for Algorithmic Trading
Algorithmic Trading: Winning Strategies and Their Rationale
Book by Ernest P. Chan
Praise for Algorithmic Trading “Algorithmic Trading is an insightful book on quantitative trading written by a seasoned practitioner. What sets this book apart from many others in the space is the emphasis on real examples as opposed to just theory. read more…
Originally Published: 2013
Author: Ernest P. Chan
Advantages of Automated Trading
Algo-trading offers the following advantages:
Trades are carried out at the very best possible rates.
Profession order placement is instant as well as accurate (there is a high opportunity of implementation at the preferred levels).
Trades are timed properly as well as immediately to stay clear of significant cost modifications.
Minimized purchase prices.
Synchronised automated examine multiple market conditions.
Minimized risk of hands-on errors when placing trades.
Algo-trading can be backtested using readily available historical as well as real-time data to see if it is a practical trading method.
Minimized the possibility of errors by human traders based on emotional as well as emotional elements.
The majority of algo-trading today is high-frequency trading (HFT), which tries to profit from placing a lot of orders at quick speeds across multiple markets as well as multiple decision specifications based on preprogrammed guidelines.
Algo-trading is used in lots of kinds of trading as well as financial investment tasks consisting of:
Mid- to long-lasting capitalists or buy-side firms– pension funds, mutual funds, insurer use algo-trading to buy stocks in huge quantities when they do not wish to influence supply rates with discrete, large-volume investments.
Short-term traders as well as sell-side participants market makers (such as brokerage firm homes), speculators, as well as arbitrageurs benefit from automated profession implementation; furthermore, algo-trading aids in producing adequate liquidity for sellers out there.
Methodical traders pattern followers, hedge funds, or sets traders (a market-neutral trading method that matches a lengthy position with a short position in a set of extremely correlated tools such as two stocks, exchange-traded funds (ETFs) or money)– find it far more effective to set their trading regulations as well as let the program profession automatically.
Automated trading offers an extra methodical approach to active trading than methods based on trader instinct or impulse.
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