Does anyone really make money off of the Forex?

agree it cannot be played no matter how long it must be taken seriously and even then there is no guarantee of profit because people can be serious when they give into the temptations and lose money too

you’re selling a bot program that makes 15 to 20 percent a month? is there a free trial before purchase to guarantee results?

What? You mean his 12,000 Facebook likes and him working with not one, but two hedge funds wasn’t enough to convince you.

He has 11 trades and still has made money. Why haven’t you given him your money yet?

What a few bucks when you are going to be a billionaire in two years flat.

Man do I see myself in this guy… :5:

Please understand, what I am about to say, I say with respect and in no means is it meant to offend anyone… least of which SharpDressedTrader.

First let me state, I too used to be young and felt I was smarter than I actually was… and this was a dangerous thing! You see, I was pretty good in the beginning of my Trading. I had Computer Programming under my belt, I actually do have several black belts in several Martial Arts and I did sell Trade Advice, Courses, Newsletters, 900 Numbers and I was Sponsored Commentator by America Online in the 1990’s for Trading Commodities and Equity Trading. I have experience with managed funds and I know how the industry operates and how it doesn’t operate. I currently manage funds for the largest conglomerate in Maryland. So I am speaking with Real World experience and understanding… so please consider this.

There is nothing “Wrong” with a young start trying to drum up an equity base to trade on by means of peddling wares. I did it, I made money and lot’s of it, I might add. I had thousands in my brood then and I collected hundreds of thousands from their subscriptions. It was and is a nightmare. I wanted to be seen as “The Hotshot” or the “Cool In The Know” Trader everyone looked up to and admired. I got to that level and you know what… I didn’t care too much for it once I got it. Ego young man, is poison. It turns folks off and even more to those you aspire to attract… for what ever purpose you have in mind.

I do not have anything against your claims of 15-20% returns per month, as I see this and have for years. I do not see anything with your claims of 120% return for a year either as I teach how to do this very thing on these forums with little to next to nothing in effort. However,… with all that said… please understand me when I tell you that there is no… repeat zero Hedge Funds recruiting young aspiring EA traders and allocating funds to such individuals with less than a 36 month track record. They want to see the maximum drawdown the historical results show for the current year and the average over the life of the historical data… and not on Demo results. Funds are interested in the equity curve and stability in nonprofit periods… not percent returns.

Selling micro-courses and plug-ins for $40 - screams “amateur” and in an industry such as ours… you won’t last long with such approaches and rhetoric. It is hard to win an audience over once you leave them thinking S.C.A.M. peddler is anything associated to you. In contrast to yourself, I realized I had an edge in the industry and while I made fortunes selling things… I woke up and simply dropped the nickel and dime stuff and simply Traded the things I sold signals on. I make hugely more than I ever did peddling signals and resources and now I simply give it away… for free. I can’t express how much more rewarding and satisfying that feeling is… having never asked or welcomed the exchange of one penny for anything I share in Trade Education. If you are making money a website is pennies to cover in costs… I had InnerCircleTrader.com, .info, .net, .tv and it was less than hundred dollars per month. So consider how “selling courses to pay for the website costs” sounds to everyone when it comes from the person claiming consistency and profitability? It deviates from your intended “image“… grossly.

Here is the question that begs answering… if it’s a profitable method, why sell it? If I read this correctly, you trade this EA yourself and this un-named Hedge Fund trades it as well? I would like to know just two things personally…

  1. How did this EA and or yourself connect with any Hedge Fund?
  2. Who clears for the Hedge Fund?

Here on these forums we see “Average Joe’s” come and go… and you are young and like MasterGunner said… quite obviously ambitious. Take what is being submitted as real world insight and not merely flaming on the part of those who have silver tongued penmanship and otherwise wit. There is real truth in these responses to you SharpTrader.

Hope you stick around and develop a more well rounded profile!

GLGT :57:

And I think with ICT’s previous post, that guy is going to be long gone and done.

He just got OWNED!

I curse Knowledge to action for what they have unleashed into the world. 20 year old EA trading hedge fund masters.

btw…ICT, do you have to be CTA to manage funds, as you are doing currently?

No, you do not if you enter into it as a Limited Partnership. Otherwise, Certified Trade Advisor would be best.

Ahh I see, thanks for clearing that up. Do you ever see yourself getting certified? I know you’re perfectly happy trading for yourself mostly but obviously you do have some interest in managing funds as well.

Hello, traders! I’ve been trading on forex market during 1 year. There were both victories and defeats. I can admit that right now I earn more than lose. It’s very important to find a broker which has no problems with money withdrawal. Because it’s unpleasant when you can’t take what you earn.

Good going innercircletrader!

In my trading all i want is consistency not large returns. Consistency is what investors want. Hers a list of reasons why you want consistency instead of large fluctuating returns.

  1. How you get wealthy trading is not only through trading but through having a great track record that shows consistency over 20% per year. This track record is what becomes appealing to investors.
  2. Trading is only one part of your life. Think about it. Your bottom line in life is to be happy that is it. If you make trading the only thing in your life you simply won’t be happy. And you can’t trade without being happy. You need to be a happy to trade. Only way your going to do that is by having a balanced lifestyle. Only way you can do that is by not being stressed out of your mind. Only way you can do that is by not being overexposed in the market and having good money management skills so when you are doing other activities such as sleeping, being with your wife, kids, friends and family, you are actually there.
  3. Another reasons to use good money management. No one wants to be the riches man in the grave.
  4. You net worth doesn’t equal your self worth. I find being a humanitarian gives me an edge in the market. Yeah i trade. But my trading style is complete an utter boredom. Ive only made 1 trade in the last week and that was for the AUDNZD when it broke its last psychological support level. This allows me time to keep a balanced life and focus on things in my life that are going to increase my overall happiness
  5. It stops you from being stressed
  6. More than 25% return pa is plenty for investors. The most important thing is just showing some return each month.
  7. You can sleep better
  8. The balance in your life is more important than the balance in your trading account

    When you begin to think like this you begin to stop thinking about making money and you start to think about making good trades. The outcome of good trades is money.

Biggest problem with most traders is that they think about the money too much.

THINK ABOUT THE TRADE NEVER THE MONEY!!!

PSYCHOLOGY > METHOD > And you try not to think about the money. It clouds your judgement.

This above quote is just complete rubbish… Really gets to me when people sell crap.

If you start of with $10,000 and you make 120% per year for 10 year your trading account balance would be $26559922.79.

My aim is to make around 30% per year.

Gorge Soros fund is the most successful fund in the world and its annual return is at 21%.

Warren Buffet Annual Return is 22%.

And they are both billionares why?

Because they have consistency not some crazy return. Consistency is what makes you super wealthy.

Your mathematics are flawed.

120% annually compounded properly, $10,000 turns into $1,548,598,902.38 in ten years.

10000 * 2.2^10 = about 26 million

If you use static values, you’re correct.

Compounding doesn’t work that way.

I was wrong too. It’s just under a billion. I added an extra year accidentally, and didn’t check.

Don’t believe me?

Make it easy on yourself. Use this.

Actually it works exactly ‘that way’. No need 'to make it easy on myself, I’m math literate, not that I need to be as the calculation is anything a 12 year old could accomplish. Seems that Master Tang has eaten one too many fortune cookies.

Your link is irrelevant as it is using monthly compounded, not yearly as was the required (ie stated) ‘input’. If you want to use other than yearly compounding you will obviously get a higher result. Why not use weekly, daily or hourly? Understand?

To keep it simple just refer to -
120% increase on 10,0000 after one year = 10000+12000 = 22000
120% increase on 22,0000 after one year = 22000+26400 = 48400 etc etc

Time to move on me thinks, Grasshopper. I’ve just realised that you must be a Troll. If not I suggest keeping away from Trading.

Hi Sharptrader,
I feel bad everyone is picking on you.

I hope you take this as constructive.

regarding your "Sharp_Trend_Trader"
Your backtests do not look very good. You need better data! 90% with a scalper like that will not give you an indication of its performance.
google “birts’ ea review” and follow the instructions to download dukascopy data.

42% drawdown with a 1.3% PF… It will most probably send you broke!

I trade,write & test ea’s full-time. You would want to show me at least 6 month forward test with over 20% per month return and no more then 30% DD. That is my bench mark at the moment for an unattended ea. (not many commercial offerings will do that)

GL

Hahah well looks like no one can calculate. But still trading the way i do it is a visual test not a mathematics test.

But i still think i am right.

Marter Tang that calculator is wrong.

I am right. No hard feelings but use this calculator

Compound INTEREST calculator - calculate online - Annually, Half-yearly, Quarterly, Formula

It says

$26559922.79

Which is exactly the same number I have… :wink:

Im using a compounding calculator.

If you are compounding correctly, 120% does INDEED compound monthly.
Nothing wrong with my link in that respect, and nothing wrong with your math.

Don’t know why you have to resort to name calling.

Rather childish.

It compounds on every trade. which is much better then monthly! as long as you trade more then once per month.

To all,
I started out here and hardly read posts. I went though the school provided on this website and got my education. Thanks BAbypips. I then went to FXCM micro to open up an account with $500. I lost all of that plus thousands more. I took a real course given by a pro-trader costs some real money not cheap. I lost money but it was managed more. I re-reviewed the course I purchased and also read some trading books. I followed time tested strategies and ultimately it marinated together to form my own strategy for profitability. You all have to just not give up, stay educated, stay looking at those charts and understand what you are doing. One jewel I will leave with you all is that what is in the school here on Babypips are very true. You just have to know how to use them correctly. Good luck!

Also, the contests that FXCM micro held shows participants turning $500-5000 to over $200,000 in a month. They provide trade reports and interview on the individual traders and their styles. It is quite motivating. Put this into your browser to see for yourself. Enjoy! Contest Winner Archive