Does anyone really make money off of the Forex? - Page 3
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  1. #21
    In2Blues Guest
    Quote Originally Posted by daedalus View Post
    I don't use trailing stops for the simple reason that too often price retracements can hit your stops and then continue in the original direction. They are fine for a lot of people but I was burned once too many times by them to consider using them.
    You make a very good point. I've been stopped out with a TS like that, too. It all depends on how tight your stops are, as you say.

  2. #22
    Join Date
    Oct 2007
    Posts
    121
    Quote Originally Posted by daedalus View Post
    I can't comment personally as i've just converted from futures to forex and am trading small size for now, before i move up to standard sized lots, but even trading mini sized lots on a small <1000.00 account I expect to bring in between a 50-100% return on that account this month.

    I can tell you that my trading friend is using the 4hr MACD method posted on forexfactory trading 100 lots positions and hes bringing in between 300k-500k USD monthly.

    No bull****. The guy lives in a crappy little 100k house in Georgia and has a new 300k Ferrari 430 on order. lol.

    It can be done, it is being done.
    Are you really being serious?

    So he is averaging 2 pips profit a day then with 100 lot size?

    That method can be very profitable with proper money management.

  3. #23
    Join Date
    Oct 2007
    Posts
    476
    Quote Originally Posted by Trade It View Post
    Are you really being serious?

    So he is averaging 2 pips profit a day then with 100 lot size?

    That method can be very profitable with proper money management.
    I'm being completly serious. But trading a 4hr chart its not like hes daytrading or something. So I don't know about what his daily average would work out to be. Last month he had about 8 trades the entire month and averaged between 40-90 pips per trade. Total he had a little over 500 pips. 500 X 100 Std. Lots = 500,000 USD.

    Every trader knows that the key to really profiting is adding size. I'm just as happy to double my size and half my pip quota for a day! Easier for me, less commissions, why not?

  4. #24
    Join Date
    Oct 2007
    Posts
    121
    Congrats to him. Can't believe his broker hasn't started messing with his trades yet since he is pulling out that kind of money. Do you know which broker he is using? Which I'm sure his account is so big they really don't mess with his trades like they would a small account trader.

    To hear everyone tell it: You start winning/pulling out money, and they start messing with your trades, making you pay/lose.

    Glad to hear some positive feedback. Make sure to post a pic when he buys it! Hope he doesn't pick yellow! LOL!

  5. #25
    Join Date
    Oct 2007
    Posts
    476
    I'm suprised they haven't been messing with his trades either! I asked him about that but he says hes had no problems. Whats more amazing is hes actually been using deutche bank, which is essentially fxcm, which as far as I know, is a bucket shop more or less. But I guess if its working for him its working for him. Maybe they have set his account aside to take positions with him, instead of hedged against? (Is that even possible?)

    And whats the matter with yellow?! Hes ordered a Rosso Corsa Red with black interior and red stiching. It should be amazing! I love yellow cars, and i'll make sure i post a pic up of what i'm in the market for when I find the perfect one!

  6. #26
    Join Date
    Oct 2007
    Posts
    121
    No offense about the yellow but come on, its a ferrari. It stands out by itself, it doesn't have to be yellow to do it.

    But thats just my opinion. Have at it, I don't own a ferrari. I'm going after the LP 640! That is my goal in 2 years!

    What ever you get, good luck getting it! Hope you get it!!

  7. #27
    hey, how much did the guy with the ferrari start the game with?

  8. #28
    Join Date
    Oct 2007
    Posts
    476
    Quote Originally Posted by hypnos63 View Post
    hey, how much did the guy with the ferrari start the game with?
    He'd blown out a couple 20k accounts before he got onto the method he trades now and with the usual learning curve. He started that with a 30k account.

  9. #29
    Join Date
    Nov 2007
    Location
    Nova Scotia, Canada
    Posts
    68
    always nice so hear the success stories, i've got hopes for myself but i dont think there going to range into the 500k a month range, but who knows....must be real nice.

  10. #30
    Join Date
    Jun 2011
    Location
    Santa Cruz - Bolivia
    Posts
    1,965
    My advice to you is to keep trading real money and apply risk management. Get used to the loses, just be patient. Don't give up just mentalize yourself for loses. Then eventually you'll get the "aha" answer.

    Regards.

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