$650 starting balance to $40,000 per month

Probably because you’d need leverage of 1000,000,000,000,000,0 :1 on an account of $650 & in the USA I think 100:1 is the max, & as GRIX & I pointed out, he’s blowing hot air out of his a$$ making two completely contradictory claims almost in one breath, one story of poverty to wealth & the other, born with mega $$$.

In the same post I quoted he said he bet the house on entire trades if I read it correctly, so was playing roulette with his account, why would you bother believeing him or taking inspiration from his story?

There’s no get rich quick solution in this game, sorry :wink:

There’s just no stopping you, aint there Aaron? :wink:

you give me confident ! thanks

I’ll take the $40k per month! :wink:

Guys it’s just his story… Why we make a big deal about it. If by doing this he is giving hope to some people , I think that’s great. Hope is free. Some people needed that to get motivated to get going…Now, if he starts posting and ask people to " buy in" into his holy grail then that’s different…

It’s just how I look at it…

Now, if he is just trolling, the mods hopefully catch him on early… Like right now… Lol

Lol, yeah this thread deserves to be deleted really, I mean what’s the point in false hope, different if he replied with a fxbook showing his feat, or even better a video addressed to this thread with him driving his GMC Bentley or whatever, telling me personally to suck an egg! Actually the fxbook would be best as he could borrow Dad’s GMC…

You’re welcome :slight_smile:

Which brokerage firm do you work for?

It would be great if we had an FX version of Timmy Sykes. But this story seems sus. As if a millionaire would waste time posting on babypips :stuck_out_tongue:

Do the maths, calculate his risk of ruin, and then decide,

I can’t be ar$ed.

Sorry but if he really wanted us to believe him a few clicks of the mouse on his part & it would be done. Also I don’t know how to manually calculate RoR, fx book does all that automatically for me so I haven’t bothered manually working this out, but as he stated before, he bet the house on single positions, risked everything on a single trade so do we need to look any deeper at his stratergy? Or am I missing something here?

I don’t. I’d be quite happy trading and raking in $40k per month. That is all.

I imagine we all would, (I was just trying to add a little humour on your remark)

Good luck! :slight_smile:

i dont see where this guy would give anyone hope.

on contrary: if it would be real and can be done by any jack or joe, it would be kind of discouraging to everyone that trades for a reasonable 3% per month (which i guess is what most real traders do)

he is only giving hope to naiv people. they run for becomming the next scummy and lose their money because of false expectations.

Thanks for sharing Scummy,

You know what they say - if it sounds too good to be true…

However I do aknowledge that you sound genuine and obviously aren’t selling anything. Although I also know that I’ve met litterally thousands of traders over the past couple of years and none come close to the kind of success you’ve achieved.

I personally think that we can all make a lot of money by grinding out 5% monthly returns and letting it compound over the course of a couple of years, but it’s going to take a larger bankroll of $650.

Pardon my English. If this story is true, than well done ;). I do not care. We heard the story that people made money from nothing to 6 0’s. we must remember that this is just 0.0001 % of people, is like win on lottery, can happened? Yes but only small percentage of people.
If you make that assumption first, you realize that you really might be not the SPECIAL LUCKY ONE.
Than you start working hard and slowly towards EXTRA money, nothing more.Another thing is that any trade market(stock FX) is for rich people. If you work and earn 6£/$ per hour got only couple hundred saving, dreaming about posh cars, houses fx is not for you!. Do not get me wrong, you still can do it, try to save couple K, and slowly make money, but do not expect that next year you would be driving Porsche, when you have 10 years old ford. Money makes money, more you have, less risk you take. Please do not forget, from where FX market, allowed to small percentage make money…from us, from people who think there is a system, this is easy, and in a year you money takes a pro trader.
I have my 9-5 job, and money for a living, this is just for retirement purposes, maybe extra holidays or car if I will be lucky enough:), or maybe I will disappear from the game, and one of you will take my money! :slight_smile:

1 Like

same to me

Guys remember, the post doesn’t give a time limit to reach that monthly amount. So this post gives the impression that, that happens quickly but it does not say that, it may take you many years to reach that level of trading.

I don’t know what to say…

It was a great read, I am not quite at 40k a month but it is possible with compounding your gains and by adopting a very strict management but in a culture of trading that brokers offer bonuses, personally I never trade on them, they are a stupid notion and only make you risk what you don’t have despite already being leveraged to start with. They also keep pushing people to trade lower time-frames (something the professionals don’t do), when in reality you should have $1000 account as a minimum starting at $1 a pip no more till you double your account. And many other failure practices…

This means the best anyone can do in a year is a meager 2% return like as if you are some kind of hedge fund protecting client funds or part of a diversified portfolio with 10% of your portfolio on FX. If I made only a 2% return in a year I will put my money in a savings account that offers 2.4% now or invest in Bonds.

It may well be this dude is dreaming or yanking chains, etc but if you trade Forex for a year and can’t even double you account then what have you been doing…Your risk has been exceeding your rewards and now you have excessive drawdown. Like any business you can make work with good planning and discipline to follow the plan. So I’d rather keep an open mind and consider revising your strategy but it can certainly be done with compounding gains and over 2-3 years you should have a 100k account that will bring you solid income long-term but the question is can you consistently trade 5 years with a starting balance $1000 minimum.

Just saying…

I have a background in computers, so maybe this is a bit of a ‘cultural’ thing…and I don’t mean any disrespect but a lot of times when I hear people talk about/when I read about Forex, I feel like the guy is a used car salesman or a multi-level marketer…

Friendly people that seem knowledgeable, extremely confident, and for some reason, they want to help me. They want to give me a great deal or let me in on some life changing pearl of wisdom. They say a lot, but without really saying much of anything.

In the computer world - if I say something like ‘I don’t get it…how can I add another element to collection if my array is full’ someone might say, ‘It’s easy. You can use a dynamic type, like a List, or you can create a larger array and copy it’.

I feel like in the Forex equivalent would be something like this:

That is a GREAT question! And I struggled with it too! I kept hearing about how someone could keep adding elements to a collection…even if it were full. But I’d try it…and each time I tried it, I’d get an error! The compiler would say, ‘Oh no, you can’t add another element!’. But you know what, a lot of people are going to say you can’t do it. I don’t care if they are a compiler or your Mom or your boss. If you believe them, well, then they are right. But that is on you. YOU decide.

I decided right then and there, that I wasn’t going to accept this error. And it wasn’t easy. I failed. A failed a lot. But I had a family to feed and there was no way I was going to let them, or myself down. Each time I failed, I got stronger, my resolve increased, and I learned from every failure. You need to do that. You can do that.

Now, I’m not hear to tell you exactly how to add more elements to a collection. I do it all the time, and it’s super efficient and it’s great…but I’m not here to show off my coding skills. I’m just saying that it can be done, and that I’m doing it, and it has totally changed my life.

Again - I mean no disrespect and I’m not directing this at anyone in particular…but in my other online endeavors people seemed proud of/gladly displayed their abilities in a measurable way. I’ve been on Fitness sites where people giving advice and motivation would show pictures of their results - post pictures of them at races - post their training logs. I could near-instantly decide if they practiced what they preached. I play guitar and before I listen to someone’s tips on how to play, I watch their youTube videos to see if they can, ya know, actually play well. Most software sites I’ve been on include a combination of profiles with objective rankings so, again, you can really establish credibility.

There are lots of easy ways to share the results of Forex trading. The numbers are quite objective and there are tools that make it really easy to do. There are threads on here dedicated to it - but unsurprisingly - the vast majority of them quickly close their accounts/make them private (presumably because they aren’t living up to their past claims). The ones I have been able to see are quite unimpressive and doesn’t match at all with the 10% per month / double your money every X months claims I see tossed around so frequently.

It’s just my .02 but if I were trying to convince someone based on my experiences, I’d suspect it to be many times more meaningful to people if I actually included, ya know…evidence of my experience.

Well said. Creating a MyFxBook account and setting it up to sync your trades only takes a few minutes. One thing you will notice is that the majority of profitable traders make from 0-200% per year. I find it amusing when people claim to make thousands of percent returns annually, yet [I]never[/I] provide even the slightest shred of evidence. Anyone who is performing that well would certainly be using some sort of method to track and analyze their trading performance!

This thread keeps popping up in my email. Makes me really wonder why we are all here. I generally don’t like forums, babypips is the only Forex forum I am part off. I am starting to feel it is full of uni students and supply chain managers that are probably wishing they had actually decided to take those maths classes.

A guy comes on here and makes a post, could be true, could be false…The dominant view is he can’t be right and worse anyone who believes him is gullible, this claim comes from the fact that they are not successful and worse others aren’t too…That is a very narrow view. Those familiar with Earl Nightingale will recall the line “Out of every 100 men only 5 will be financial independent by retire, and 54 will be broke”.Well the rest will die working for someone else… That stands to reason the majority of people here are broke or will be by the time they reach 65 and will dependent on someone else for life’s necessities.

So let’s say for arguments sake this guy is a fraud, at least he has vision or has imagined this future. Again I am sure Einstein or even those who thought of space travel were all called dreamers. In fact the word Lunatic comes from the idea going to moon was pure insanity. It is no surprise a lot of people in the “Newbie” section are not really new to the forum of trading and are only making a few descent returns to call themselves traders.

Now! Before you even think to bash me… I spent 3 years studying finance and Economics another 3 trading everything from stocks to physical commodities and sitting into various courses on actual trading, also did spent some time in the property and private equity space and made a few friends with proprietary traders as you can imagine such people dominate the equity space as a result I was required to get my hands dirty with actual physicals in countries most people don’t know exist and yes a couple of war zones. Note I started my independent career with credit I received on a training course, that was only £100 and I was told to grow that to £1000 in 2 and half years , if I can’t do that, then trading is not for me…

I don’t see the point in publishing financial’s on the web or proof. That’s childish. Do you publish your payslip on the web to prove a Doctor is something worth being? I didn’t think so… In fact most of us don’t really know what Doctors earn unless we know one who talks often of their earnings or generally we assume they earn good money because it is the general view. Who has seen a Doctors payslip? I haven’t and both my parents were Doctors I still to this day don’t know what they earned…

I have a very good friend who worked for JP Morgan as a retail trader and he worked for 1 year with no pay and traded successfully everything and earned a bonus of of just over 150k cash at year end tax free as in the UK bonuses are non-taxable and he had 1st class degree in Financial Economics but he had never seen a trading desk prior to that role, in fact he was a council worker prior. So most new retail traders are just like you but 1 year down the line earn more than most of you. Banks are not generous, they pay top performers by performance. I assure you none will even be on babypips. That includes me, I see after 6 years my learning curve has ended but my learning has involved real money juggling and actual experience and a lot of education dollars. He spends his time as life coach, travels a lot and even right now he just came back from Brazil, he is not married and he is 42 years old. He doesn’t know what babypips is…