Hello ladies and losers,
It is my lunch break!
You are all correct and possess level 1 Sherlock Holmes skills. I am a troll who has been sent to encourage you. The truth is that I have never traded currencies before. The market is rigged and biased against you. If you buy, you lose; if you sell, you lose. No matter what you do, you lose. The only way to be successful is by learning everything about the market, finding the “holy grail system”, which was created by a trader who is losing money, and which is profitable 51% of the time and thereby gives you an edge. Also following the opinion of others on forextv, using robots to trade and reading forex books by motivational authors who have made more money from their books than they made in the market would also increase your chances of making money. As a matter of fact, imagining what you can do with the money when the market finally moves in your favour increases your chances.
Now, if you have not yet stopped reading, here is a screenshot of when I started trading
I have two accounts, here is a screenshot of my primary account
And second account
Here is a very interesting screenshot. The max monthly % increase I ever achieved in my primary account was actually in my 2nd month when I did not even know what it meant to be a bull or a bear. Beginner’s luck or did I know just enough to get by?
I would be deactivating my account at the end of the month as I feel I do not gain anything from these forums and I also have to study the markets to develop a new strategy as volatility is almost certainly back.
Thanks, I have no desire to convince you anymore. I shall not link you to my myfxbook profile or let you know my trading username and open myself to being hacked. I have provided you with your screenshots. You take it or leave it, my job here is done.
Thanks. I am a 21 year old international student currently doing an internship. In 5 years, you’d hear about me and how I am an example of the “American dream”. I’d look to diversify my portfolio when I can, so that I am known more as an entrepreneur than as the lucky billionaire gambler.
By the way, isn’t it ironic that you guys always ask for a screenshot and when you get your screenshot, you still don’t believe and troll. It’s amazing to get a first hand experience of talking to people with a losing mentality. Oh well, if everyone was meant to succeed at forex, then I would not have homeless people to give money to.
I’m not losing, nor am I making it big. A steady 2% per month is more than enough to satisfy myself, and I am trading at that level.
Sorry bud, but I can’t take that screenshot seriously when your equity curve is wildly whipsawing everywhere. Consistency is the name of the game and I would be much more impressed with a small steady percentage return than what seems to be a couple of lucky months.
I realize you’re probably just trading a couple hundred bucks, which is why you don’t care about the 50%+ drawdowns. But don’t pop on the forums and act like a big shot because you have a few weeks where your account is in the green, and you’ve managed to take a few hundred measly dollars from the Forex market. The current statistical significance of your winning streak is nonexistent - come back in a few months when you have something more than variance.
I like how your storyline has changed, now you’re more interested in how much I invest than in my percentage increase. At least you now accept the validity of my stories. I have never said I am a bigshot. I have always said I went on a 9 month losing streak where I was looking for the “holy grail” system before I devised my own system. I make good money in my internship and I invested $5,000 in forex- mainly due to trying to cover margin calls during my holy grail search days. Now, I have cashed out my initial capital and taken 16% profit and now I trade with a couple of thousands of free money, do you?
Forex is to be played with money you can lose, so that’s why I leverage high. But hey, by all means go invest $100000 in forex and brag about it because you are looking for 2% a month and when you lose it all, you’d become homeless, have regrets and beg people for change.
Any fool can invest their entire life’s worth in this but the wise invest money they can lose and over-leverage because there is a reason why it is called money you can lose.
Lastly, if I was interested in getting 2% a month, then I would leave my money in the bank rather than go through hours and hours of looking at charts and trying to predict what the market would do.
Dear aceofdips, howz about you grab some off your profits, head on down to your local hardware store, buy some wood hammer n nails build a bridge and get over it. Try n resist the urge to set up camp cause no-one carez
Alright lol lets get back on subject. The OP’s title of the subject (and our last little tangent) bring up a great point. Realistic monthly returns for a forex trader. We in this forum can only be called forex traders by a somewhat loose definition. I’m sure there are exceptions but the majority here are amateur. Forex isn’t our main source of income. We have jobs. We probobly have educations in subjects that aren’t strictly investing. A professional traders monthly earnings better be a hell of a lot better than mine if he wants to keep his job.
Realistically, expected monthly returns for a “beginning” trader should be to probobly blow your account, breakeven, or make a minimal return that’s so pointless of the time you’ve put into studying no one in their right mind would do it.
If your crazy enough to keep going, it does get better. You calm down. You get a feel for how this giant likes to move. Basically you get really good at not getting your butt kicked. In turn, you start earning a decent profit.
After that, where I consider myself starting now. You drop all the gimmicks. You’ve started finding a niche and you finally “know” why your making profits. If you’re almost positive you see a trade setting up but you don’t know why it’s happening. You walk away. You know you’re going to make a lot more money on the trades you don’t take than the ones you do take.
That was my path thus far at least. I’m sure everyone is different but can relate to a couple of those moments I’ve outlined
I think making 5-10% a month would be a realistic Profit figure. I know many who make 15-30% a month but for longterm that would be risky. 5-10% is easy to make no need to take big risk to make such.
May you please provide your definition of the term ‘easy’?
In what world is it easy to make 60-120% per year trading anything?
This is why nearly every new folk will crash and burn.
Because they’re underfunded and over-leverage the sh!t out of their account, trying to double 300$ each month or seek an insane return.
There is absolutely nothing ‘easy’ about pulling down 10% a month. Nothing.
I agree 100 % there is nothing easy about making money in anything long term. FOREXunlimited is right on target, also as your account value increases is harder to make large % and that is because your safeguarding what you have already made.
Unless your walking the walk, it’s hard to relay correct information to others. There’s a lot of misinformation on here. No need to point out names. But what appears to be a true reality to someone may be totally incorrect. Don’t get me wrong Forex trading is absolutely not easy and it’s very difficult to learn. However it is possible not only to learn how to trade Forex but to make excellent returns.I have made over 600% this year. Was it easy? Absolutely not Was it hard? In the beginning it was very difficult I will not share all the details here as I have posted them many other places. However as time goes on it has gotten much easier. I have a very sound methodology that I follow. And I’ve learned to follow to the letter. At this point my trades are more of “rinse and repeat” Like anything else the more you do it the easier it gets the more you perfect it. Making good returns has become easier and easier due to my money management with a constantly increasing position size as my account size grows larger and larger while never increasing my wrist percentage.
For you to succeed you must have a proper attitude and willingness to forget everything you know about the markets, because most of what you already know is probably well I won’t even say probably most of what you know and this applies to 95% of the people that will read this is 100% wrong. Did I say wrong I mean 100% crap. You have to be willing to accept the fact that most of what you’ve learned has been touted by people that don’t have a clue their selves how to trade. Just like a training going into the military. You have to be broken down to be built back up again stronger. Most aspiring traders have to big a chip on their shoulder to realize this.
Once you have a proper attitude and an open mind with the understanding that you cannot control the markets and you cannot foresee the markets. Then you can start to see the reality of what you have to do to succeed. Allen.
Hey buddy, they are going to troll you here since you are not recommending the latest EA. I saw the method you posted on another forum earlier during my lunch break. It’s funny because my new strategy was already going to be a variation of your current strategy. What do they say again? Oh yeah, great minds think alike. Cheers.
No he is not. Allen has achieved something many of us inspire to. And his journey has taken 11 years. He has our repect and admiration. You, ace of dips are a 21 year old punk who runs his mouth and needs to be ***** slapped into the middle of next week. If you are a man off any conviction would rack off (as one of your post said you would) and let us celebrate Allens success. But you are not a man you are a SCARED LITTLE BOY.
Allen, I tip my hat to you and your words are wise and worth adhering.
after the long discussion I think this formula still stand:
High skill + low balance = high possible %
Enough skill + low balance = lower than above
High skill + bigger balance = lower %
Enough skill + bigger balance = lower than above
High skill + even bigger balance = even lower %
Enough skill + even bigger balance = lower than above
After reading the discussion between long time members and new member there is a question I would like to ask…
do you guys think it’s better to trade using all of your account and then aiming for 2% (taking off from jadd806’s example) or to divide your account and aim for equal amount? I mean if you divide your account to 10 and then aim for 20% it is exactly the same as using your full money and aim for 2%, right? Using a tenth of your money and get equal amount is much more effective, right?
I see you’re all talk, no action. Where you draw your conclusions from is beyond me. Either way, I can’t be bothered about getting into childish internet arguments as i firmly believe actions speak louder than words, so I refuse to feed the troll. This time next year, i’d post another screenshot.
Both options you put forth are valid and basically equal. Changing stakes you just redistribute risk/reward amount - win little but frequently, lose big but seldom and wise versa. But considering that you play not zero but negative sum game (because of broker charges), going bust is only matter of time. In terms of this fact, big stakes with expectance of big profit and fast quit are more preferable.
