A Million Dollars Per Year Trading Forex

Beginner Questions
1

I’m just curious.
I want to ask a question to anyone here on Baby Pips who would like to respond.
I’ll start off by telling you a little about me.
Even though I’ve joined here anonymously (as a newbie) I am a very successful trader and have been trading the Forex for many more years than almost all of you.
I’ve had a look around here on these forums and blogs kind of like going back and revisiting how it was when I first began trading to get an idea how much has changed over the years.

Well, in fact not much has changed really. There are still people struggling and there are still people trying to help others.

The Forex itself has changed drastically since I began trading in do far as education is concerned.
When searching through google there are about 1000 times more scams than there were before.

I can tell a scam right away, even before anyone knows it’s a scam. That one of the fringe benefits to being successful at this.

There is a very common myth about Forex trading that people don’t seem to understand. In fact it’s the very reason why scammers get away with scamming in the Forex. You see, if the market had all good traders there wouldn’t be as much money to be made by good traders.

The Forex is an almost net-zero sum business. That means that for every winner there has to be a loser.
What that amounts to is this; something the Forex dealers won’t tell you is that only around 3% of people who trade the Forex are actually making money on a consistent basis. That means the 97% of people are losing money.

So long as there are 97% of people losing money, I and other trader who make money will have a pool of capital for out income. It’s not really a nice game is it?

In fact most good Forex traders don’t mind the scammers because the more people are fooled into thinking the Forex is an easy market to make money in, the more people will lose their money…and the more people who lose their money, the more the 3% will make money.

What I would like to ask the membership here I this.
I know that some of you are so very lost and struggling and believe me I feel for you all. However I actually think some people deserve to be losers. There are good people however that I would prefer are not losers. I would very much like to help them but…if I told you I could do that and told you how I could do that I know that there would be a number of members here jumping all over me. It is those members who are so jaded, so much so that it seems as though, if their house was burning down they would actually ask the Fire Department to prove they aren’t scammers. It seems like a viscous circle right?

However, what do you others think would be fair? I mean how much would you think would be a fair price to pay for the information you need in order to make a potential of a million dollars per year trading the Forex?

I’m just wondering what you think.

In so far as baby pips is concerned it is a good site. It’s a good place for people to get together and exchange ideas but…the information you need is not here. Yes, it has some basics but the information required not free and this is a free site for the user.

Regards,
Fantomoftheforums

2

However, what do you others think would be fair? I mean how much would you think would be a fair price to pay for the information you need in order to make a potential of a million dollars per year trading the Forex?

A percentage of the profits or nothing if there is a loss. That would be “fair”.

3

exactly. if it works ill gladly give u 50% of my profit, maybe more. but if it doesnt work i wouldnt owe you a dime. thats fair.

4

I like the idea of that. A royalty for trading your way. However, if it was really a million a year you made, do you really need our couple hundreds? IF it’s even worth that.

Excuse my skepticism in this ploy.

5

Why do you want to be a mentor? If it’s for altruistic reasons then offer you services to those who are most likely to ‘get it’ and offer it for free since you really don’t need the money, and the students do. But that means work for you because you would have to read forum posts and decide who you think is most deserving and in need of mentoring and who is most likely to be able to make progress and learn from your mentoring. Either that or just offer it to everyone.

6

Are you trying to sell something?

7

I think its a scam - can see it a mile off - be careful

8

They really are easy to spot aren’t they. Two sure signs of a scammer. First they try to convince you they are not a scamer by badmouthing scammers. Then they try to sell you something.

9

Please answer the tough questions so we know this isn’t B.S.

10

Do you think we dont make $$$ too? We do man!!! The market is like the sky and theres enough for everyone. It depends on someone being smart enough to trade the market. Can you please answer the questions jaquille posted above so we know who you are and share how u got your million $$$ so we can make our billion $$$.

11

You are perhaps ironically asking the wrong question in the wrong forum. By your own admission there any many that would seek a free answer and then fail to utilise it anyway. And there are others that would pay for an answer and yet even then still fail to make use of it.

But conversely there are those who cannot spare any significant sum to pay for what they seek but would fully understand it and utilise it.

I actually understand your reasoning behind charging - it would take time to teach, time you could spend making a lot more money trading. However as some posters have noted - the truly fair approach would to take commission on success for a period. This would put the onus upon you being able to spot the psychology of a good and willing learner, versus the individual that seeks something for nothing and will achieve nothing with something.

12

well, lets say he teaches someone, they earn 1million a year from then on, giving the teacher 50% would be 500k a year, per student. I’D GLADLY TEACH EVERYONE LOL every student i taught, assuming they learned everything and could make the 1million, would be an additional 500k a year for me. Plus the money the teacher would be making from his person trading.

now someone needs to create and sell (maybe not sell?) EAs that use this technique. MAKE THEM FREE TO DOWNLOAD AND USE. if the user makes money have the EA charge commision, if not. then the user wouldnt owe anyone anything. that would be a good EA, assuming it worked lol.

13

Lol, if such an EA could be created, it would be pretty awesome.

14

I appreciate every intelligent reply to my query. I especially appreciate the one quoted here above. It takes a lot of determination to be a trader. It takes time, discipline and a certain level of aptitude that most people have but some are not willing to apply. If I taught someone, that person (or persons) would definately have to be very, very determined. All the knowledge in the world is useless unless the seeker of the knowledge makes proper use of it.

Now, if I were to accept the offer of 50% account winnings. How would I be assured that I would not lose the time and efforts should the trader(s) I taught re neg on the deal?
I am seriously assessing something here.
One more thing. I loathe scammers and I appreciate very much people helping other people.

15

Post number 9 has some really good questions. Some other questions would be, how many students would you take on? How would training take place? In person? Over the internet?

When a person goes to college they usuall have to take some kind of aptitude test, like an SAT test. You need some way to filter out the wanabes from the ones who actually have a good shot at making it.

16

Thats a double edged sword. How do people know you even know what your talking about? You only have 2 posts and your word that your a successful trader.

This could be a couple of teenagers in Nigerea who have downloaded a cheap EA or system yesterday and are trying to make money today.

50% of winnings? what if you lose people money? - will you refund? You have everything to gain and nothing to lose.

you would be a rich man if you could get a few hundred people to give you %50 of their winnings, even if just a quarter of them paid up. You could just spout of some free system you found and chouck out a couple of signels and you are baisically making risk free trades for your self with other peoples money.

Not saying thats what your up to, but…:confused:

17

Indeed a dialema. Might I suggest that 50% is probably unrealistic and would indeed leave you open. Depending on the time you have available to teach perhaps 10 students each paying 10% would give you a greater return. At the same time 10% is a small return for what you are offering but your risk is spread and if only 5 traders are honest enough to honour their commitment then you are still compensated. If your true desire is to help then many could benefit from your assistance.

18

This proposal makes no sense at all to me.

a) Firstly, you cannot guarentee that a method that works for you will work for others. I could give you very specific examples from personal experience that you simply would not believe !

b) Why not simply manage client funds and charge 50%. Its no more work for you, its no work at all for the punter, and you dont need to spend time teaching, or disclosing proprietry information. Its a win win situation.

c) Why would anyone give away 50% of all future earnings for information thats freely available ? [/B]Only a complete moron would agree to such terms, so why would you wish to work with morons ?

d) People are stupid and greedy, and no doubt there are many who would agree to your terms, but in reality, teaching someone a mechanical method without an understanding as to how they in turn could design and impliment a method suited to their own requirements is completely pointless. Again, why you you wish to work with stupid or greedy people, such people are a resource to be exploited, not helped.

e) If you want to benefit financially from the efforts of others, why not just employ people to operate the model ? you dont have to give them 50%, staff cost practically nothing.

f) I had to laugh at the concern expressed regarding the possibility of losing time and effort, and the traders screw you on the deal. Thats termed RISK, I assume you are familiar with the concept. Name me any business where there isnt a risk ?

g) Why would you want to improve the chances of other market participants ? If you feel sorry for people, give some money to charity, there’s a lot of deserving causes, if you feel sorry for an individual give them a gift, create employment, build a school etc. Teaching a bunch of wannabe traders who are too stupid to work things out, or too lazy or desperate to take a sucker deal of giving 50% of their future income, really is’nt a noble or good thing to do.

h) You mention a million dollars a year. Lets get realistic, that kind of return requires a capital base that is significantly larger than the majority of new traders would be prepared to risk. From personal experience, I’d argue that even those with sufficient capital to realistically make these returns, tend not to risk significant sums, until a track record has been established.

i) Lets assume someone takes up your offer. Lets assume they pay $10,000 for tuition. Lets assume they deposit 100,000 dollars in a broker account, and lets assume that the trainee makes returns of 100% per annum. Lets assume they mail you a check for 50K each year. Would you be happy ?

Would you still be happy if you you discovered the guy was actually trading 25 million in a second account, or trading 250 million of client funds. How would you prevent that from happening ?

How do you cope with some guy starting with 100K, but he cant compound because he needs the 50K a year profits to feed himself and keep a roof over his head. How long before someone in those circumstances is going to start regretting entering into the dumbest deal of his life ? If you have any legal control over the deal, you have the guy trapped in poverty.

The biggest problem is that everything ayone needs is free. If people cant work this stuff out for themselves, then I’d argue that they are really not the sort of people with whom you want to be entering into any sort of business deal. In your own interests, you want to avoid these people, not encourage them !

The deals a non starter.

19

I agree with you 100% Simba.

Yet, I do not understand why this thread is going on like this, for he has given no proof and no solid indication whatsoever that he is a professional trader.

20

This smells fishy to me.

Best Regards,
Matt Jones .