Frankly, yes. I have turned over a 300% profit from a $60k balance within 3 months.
But just as everyone has been saying above me, you earn it fast but you can also lose it fast.
But I would like to comment on some facts.
It isn’t true that you will lose it fast if you pay attention to what Babypips teaches you. I have been on this website for 7-8 years and I would consider myself as an above average trader.
You see many get rich quick courses promising you high yields and returns from a $100 - $1,000 account. This is entirely rubbish. Based on the leverage you are getting and strategy used, there is no way you can multiply or compound that small account into $1,000,000 in 1, 2 or even 3 years. It just isn’t possible.
The only way you can do that is if you risk big. Where they usually say you do not risk 1-2% of your account on 1 trade. If your account has a balance of $1,000, that’s basically $20 max loss. And if you’re looking at a 2:1 RR ratio, that’s $40 max profit per trade. Just think about how long it would take you to get from $1,000 to $1,000,000 if you are working on $40 max profit especially since no one can guarantee you a 100% win rate.
I saw someone post that most traders here are either on their learning phase or have started for a few months on a demo/live account. I just want to share my opinion, being someone who has lost a lot and also won a lot. Hopefully no one gets misconceptions about trading and thinks that this is the get-rich-quick method and end up being burnt.