[QUOTE=“Jezzode;532381”]I’d say you’re asking this a little to soon for me to give you this proof!
I’m working on this exact concept though as we speak, here is a preliminary set-up which i’ll be using.
>>> BFX Equity Management
I’m about to go travelling and working with a friend of mine, an opportunity which I just couldn’t pass up to see the world before settling down trading full time again.
Sorry it’s not ready to go live already![/QUOTE]
Website looks great but no proof of live trade results, reminds me of those HYIP sites.
Don’t they say that only about 5% of retail traders are profitable? Or is it 5% of all traders, and 2% of those are retail traders?
I know a spanish guy that lives by me, he has a six screen setup, he drinks whiskey and smokes heavily staying up for 4 days at a time trading… He would send me to the store to get him stuff cuz he didn’t want to leave his desk… I saw with my own eyes that he had $20k days… His risk profile is intense but he is always profitable…
Then there’s this chick that runs infinite prosperity, google and YouTube her company she has videos of $10k days…
Of course there are people out there doing it full time successfully, but i don’t think you’ll find them bragging about it on a newbie site like baby pips… For example, look at traders on zulu, or a better forum forex peace army…
Of course there are people making a living off it, but instead of wondering about it, put in the work and become part of that 5%!
This guy must have a lot of capital or take huge risks. How long has he been doing this for? Doing it for a few months might just be a fluke, but consistently doing it for a couple years would mean it’s possible to make a good living, even get fabulously wealthy trading.
Most people who take huge risks trading end up flat broke because the more you trade the more statistically likely you are to run into a string of bad trades. So 20k on certain days isn’t necessary impressive unless he doesn’t lose 20k on other days and that he has done this for a long period of time. And it would also depend on his Principle, if he uses 1 Million to make 20k a day it’s nothing special but if he has only 200k that would be amazing.
What trading platform and broker does he use? What’s his strategy? Scalping I imagine.
I wouldn’t trust someone with a website looking to sell anything. If they were really super successful FOREX traders they wouldn’t need to do that.
Not me…I’m making a bad living trading Forex Full time. It seems like there is a hidden secret or worm if you will in my platform’s software that will go against my trade every single time. When I enter a Sell , prices go up and when I buy…price goes down .My stop gets hit and prices go back up past my point of entry. I could have 100 pips as my stop or 10 pips. I doesn’t matter. Price attacks my stop, and after eating up my loss it will resume its way and wait for my next order.
All I wanted to do was make $100 per day…10 pips per day. 3 months into Full Time Forex and I’ve lost 10 to 20 pips per day. I haven’t had one day that I came out with a profit. That in itself should be impossible!!
Can anyone tell me if the platform you’re working with DOES have a secret worm for the broker to eat up all your orders? That would go to show that 95% of traders will lose money because the 5% are the Brokers with programmed software to hit your stops every singlt time!!
My friend you should learn to trade if you want to be profitable and consistent. So far it sounds like you have just been gambling!
You can check the live rates in different platforms and websites. They are almost always the same with the exception of some spikes. So check it in real time and see if your broker has normal rates or is tricking you. But I doubt it. I think it is more like you have just been gambling.
Of course there isn’t any proof yet, it’s not an active website yet. I did say it was a preliminary set-up which I will be using once I return from travelling, which could be anything from six months to more.
Once it is active the website address will also be changed, at the moment it’s passing through a free domain, as can be seen in the address bar of the website it’s self.
I only showed it at this early stage to get some feedback
Oh, and it’s not a High Yield Investment Programme (HYIP) as I’m not advising nor accepting moneys from other parties to join the private fund! Purely a website for entertainment value.
Yes, but your assumption is unrealistic. With 10%/month, you are beating the best funds and private traders who can average 1-2% with rare 5% month. Check databases with track records and do not believe some performance anecdotes.
It’s harder to make a return with large sums of money on the stock market because there isn’t enough liquidity there to freely move tens or even hundreds of millions of dollars. I imagine most professional funds would be dealing with at least tens of million to hundred of millions of dollars.
Where do I go to check the database of performances?
What broker and platform do you use? I use oanda and making 2% a day has been easy so far. Albeit it’s only been a couple days with real money but I more than doubled a demo account with them prior to opening a real money account.
What currency pair or currency pairs are you trading?
How have your automated trades compared to your manual trades? I have heard that Expert advisors don’t work, at least not for a period of over 12 months.
I checked your journal, you seem to be doing very well. If you can keep it up for 3 more years you should be able to make 500k a year easily. Hopefully you’ll still be here to provide some much needed inspiration as there doesn’t seem to be a lot of people on here who are successful traders.
That’s a great question that I always wonder as well, but I think most successful FX traders are busy focusing on it full time rather than hanging out on online forums. So, we probably may never hear of one.
My other thought is that retail FX trading hasn’t been around that long (maybe 8-9 years), so we may start seeing the first legit retail success stories popping up in the next few years since it takes about that long on average to master a skill. I dunno. We’ll see I guess.
I don’t think it takes that long to become a Master trader. It’s like any talent, some people are born with it and with practice they only get better, while with others even a lifetime of practice wouldn’t make them any better.
Here’s a list of the most famous traders in the world
I wonder how much the big financial institutions and hedge funds make off FOREX. As there doesn’t seem to be any one individual trader who is World Renown in this area.
How long have you been trading FOREX? How are you doing so far? Personally I can say I just started a real money account about a week ago and so far I’m breaking even give or take a few dollars, though I have had large drawdowns from where I was profitable.
After trying my hand at scalping I find it to be too tedious and inefficient. Everytime money is made it is given right back, at least for me. Maybe there’s a 5-10% a month edge that is possible but it’s too much work.
My new strategy is buying and holding for the long term. I bought USD/JPY at 97.85 so far I’m up 98 pips. My target goal is 1000 pips in 6 months…2000 pips in a year. I will close the position in a year if I reach my goal. A year ago USD/JPY was at 77 and has reached highs of 103, so I see 2000 pips as not being impossible. If my goal is reached I would have made close to a 300% return in one year, I don’t think a scalper could ever hope to achieve that figure. I’ve heard 10% scalping a month for a year is considered 1 in a million.
I only used a fraction of my full leverage for this trade. If I had used 50:1 leverage a return of 1000% would be possible. It’s a good idea for some of the Noobs out there who scalp and risk 50% of their account per trade so they can make 50% profit but who run a 99.99% chance of blowing their account after a few consecutive trades like that. Instead of doing that why not risk 50% of one’s account to make 1000% a year, even if the goal of 2000 pips is not achieved, if the price you bought in was indeed a LOW that will never be retraced you stand a very good chance of compounding your principle by many fold.
I see you are changing your mind pretty fast. A few days ago you said that it is very easy to make 1% per day. Now you have changed your strategy in position trading. What about tomorrow?
You have just started. You have got not experience. You should be trading a demo or a micro account with a few bucks in it. I wish you all the best but remember to put the stop at break even now that you can. Tomorrow we will may be at 101 but in a few days we could be back to 90.
Let’s talk about it in few months when you will be either disappeared from this forum or you will be crying because you have lost all your money.
You talk bla bla like you know everything but the truth is you just started and you know nothing. You have no experience, no ability. You are just very lucky.
Please open a myfxbook account and give us a link so we can all see how good you are and how much you will earn in few months, otherwise you have nothing to show up because you really sounds like you know nothing and you understand nothing about trading.
Well, it would be a dream to be making 500k a year on forex, so I’m not going to count on it. My automated trades seem to be performing (although its a test on a small account at the moment) better/as good as my manual trading, so when I add the two together it should work well.
I think that some expert advisors do work, but once again, the traditional way that retail traders have been taught to use them does not work (like so much of retail forex wisdom - bad advice).
Having the ability to do something comes from practice, which is gained from experience. You wont find any traders who are now profitable in the long term who agree that they are using the same trading strategy which they were using in their first few months of starting to trade the FX markets (unless they were taught by a mentor, who in their own right is passing on their own experience). Perhaps being able to trade successfully involves having the ability to learn from experience. Having the ability to make money is not a gift, it’s not like a pop star who happens to have an amazing voice with no previous practice - you either have the voice or you don’t.
IMO trading IS all about experience, you are not just born with the ability to make money?
People who do make money from the start are usually just in the right place at the right time and have the people around them with either the required financial backing and knowledge, which will always happen from time to time as it’s just a matter of probability - all be it very slim.
after 8 years of development. But you wnt make a living after 1 month of demo trading…