Does anyone really make money off of the Forex?

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

I am living example of a real person, telling you a real story about trading FOREX. All beginners, heed my advice, because it is one hundred percent true and based on my very own experiences.

I have traded since the swiss bank intervention, which was approximately almost 2 years ago, since then I have lost thousands upon thousands of dollars. Don’t get me wrong, I followed the idiotic school here, I know everything there is to know about trading, triangles, trend lines, flags, fundamentals, QE effects on the market, BLAH BLAH BLAH.

You will lose, when you come here, 90 percent of the people appear like their profiting, in reality maybe 10 percent of the people here actually make a profit, and they leech of the poor guys like ourselves, to make millions of dollars. They are Romney supporters, and we are Obama supporters, and the dodd frank act was the beginning of saving us, for tragedy in the FOREX market.

To conclude, after 2 years, trading everyday, spending many hours researching this, I am not a dunce I am just like everyone of you, and hope no one here limits my speech, but I am telling all of you the truth, Forex is a scam that benefits the rich, and nothing trickles down to any of us. We will go broke, as I did, I’ve lost thousands as I’ve said and NO it wasn’t all in one trade, it was the span of HUNDREDS UPON HUNDREDS OF WELL INFORMED TRADES, trading a MICRO account with a minimum of 50 dollars, and I STILL LOST THOUSANDS.

Please if my speech isn’t limited, learn from my mistakes, and don’t fall into what their trying to sell you, they are very rich and profit from poor traders who lose their life savings wanting a better life. They are republicans, we are democrats.

[B]If you want to be poor, do what poor people do.
If you want to be rich, do what rich people do.
If you want to be a douchebag, do what douchebag people do.[/B]

I hope that is clear enough…

“You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you.” W.D

I think the problem is [B]YOU[/B] not the government…

Yes, clearly your losses are due to Romney supporters. Obama and Dodd- Frank are there to help you.

Those evil Republicans… SMH

Let’s ban the Republicans’ Forex racket and return the wealth to the 99%!

Who’s with me??

In reality, I don’t think your losses are Due to Romney or Capitalism… Stop trying to pass the blame and take responsibility for your own actions, Obama and Dodd- Frank aren’t going to protect you.

I don’t doubt you lost a lot of money. You have been trading for two years, that is a long time, but it may take you up to 7 years to be a good trader. Maybe you need more practice. As for the Democrats and Republicans go, your comment is purely subjective. And as for 10 percent of the traders here who are leeching off of the little guys just starting out with very limited capitol; that can’t be true. Because the smart money institutions are the ones who leech off the little traders. Not web sites, unless they are institutional traders also. Or have extremely large funds that would off set the Forex Market in a big way. On the other hand the guys or gals running this web site will tell you that the education they provide here, I know because they told me this, in fact I have a thread here somewhere about this same subject, that the education here like Eliot Wave theory, is not gonna do you any good. It is worthless. Outdated. Now some of the other stuff like triangle formations, trend lines and candlestick interpretation, and this is my view only, probably is worthwhile to learn, especially if your a Trader. Have you tried supply and demand and smart money trading. I believe that is where a trader should devote most of his time. And if you have lost thousands of dollars in Forex, you must be one rich Democrat. He Haw!

It’s very easy to lose thousands of dollars over the span of 2 years, trading nothing but 50 dollar micro accounts.

Of course that means using leverage, which the Dodd Frank act, did not go far enough in addressing. I am sure if the law limited the leverage to 10:1, I wouldn’t have lost my life savings, over the last two years, learning the FOREX market.

This site certainly does benefit the wealthy, contrary what the other poster said, many of the newer traders are victims and FOREX is zero sum, which means when one trader loses, another benefits.

Look at this way, the millionaires, they make money when all the sheep get slaughtered, from reading all these feel good stories here, about how someone made thousands of dollars in one day, trading the AUS/NZD after the down turn.

In reality, only 1 percent of millions of people, profit. The Government did a study on all the retail brokers that are regulated now, and ACCORDING TO THEIR OWN STATISTICS, 90 percent of retail traders lose, this is taken over the course of several years.

So long as my speech isn’t banned here, this is advice for newer traders, from an honest experience in the minority here.

I am not here to lie, of course after losing mounds of capital, and spending many years, maybe a trader can make a living doing this, and only pay the 14 percent capital gains tax rate, that Romney pays.

But I referring to 99 percent of FOREX traders, why should they be victims so that just that one percent can have the freedom, or luxury, to make a living at their expense?

It takes many years, and a lot of capital to learn FOREX, something no one here or anywhere will tell you. But that is the truth, and you know and I both know that. It is thoughts like in your post, which is exactly why need the government to step in, and regulate this market, for the safety of the rest of us.

You’re making money off of me, and most of the traders in the FOREX market like me. You are spending my life savings now, for your luxuries and rent, and if not for the government stepping in when it did, with DODD FRANK, and limiting leverage, you would continue your tyranny on my life.

So yes, we do need the government to protect us, limit leverage to 10:!, and finally not have to continue to fall for these scams.

It’s pointless Banker to talk to this guy…It’s a waste of time…

Hey that may be true, but according to the government research, that is not only true of me but the majority of FOREX traders.

That is something not listed anywhere on this site, only the feel good stories to elicit emotional reactions from people, to put their capital at risk for a big pay off.

So the government has to increase regulations to put a stop to the evil doers, who capitalize on the “incompetent, dumb, or pathetic” traders like myself.

Yea, their evil capitalists who exploit us, for their own financial gain.

I have nothing against FOREX, if I were able to be successful, I would use my money to lobby for stricter rules on the market, so that future traders don’t have to face financial ruination, like many of us do now, to the evil manipulations they use to make inexperienced traders lose their money.

As mentioned before, 50:1 going to 10:1 will help us immensely, when we are risking capital learning the market.