Ever heared that the best fund manager in the world perform AT BEST 35 % a year ? And they have ivy league genius programming complex algorithm run on super power ful computers.
"Yes but They have problem with liquididy that’s why " .
Only 5 account meet those filter. And guess what:
The [B]best [/B]performance is 75 % in 2 years. And his curve is not very stable.
NONE of them are scalping.
You see pal, tons of people here on forum will claim to make 10, 20, hell even 50% per month. Ask them their myfxbook and they’ll come up with all the excuses in the world.
" Im just providing free advices i dont have to prove anything “
” why dont you try out my system and see if it works for you. Oh and you need at least 5 years of practice to be profitable and guess what in 5 years I won’t even be there anymore to here your complain ".
Can ANYBODY here PROVE that he is profitable since more than juste 2 years, with no >30% DD and with a stable equity curve ?
I highly doubt so.
FACT: The forex and any speculative activity make money ONLY FOR THOSE WHO MANAGE ENORMOUS ACCOUNT.
Imagine that you manage JUST 10 000 000 and that you make 10 % per year its 80 000$ per month. You give back half of it to the investor you’re up to 40 k a month.
THOSE are the deal people.
You think you can go somewhere with your $10 000 account ?
All those forums , those seminars, those gurus, are LIVING off of your ignorance and your delusion.
Get real pals.
PS: ANYBODY coming here telling me that " this is possible " or that " I’m so frustrated " or any kind of insult, I don’t give a damn, SHOW ME YOUR MONEY, SHOW STATEMENTS, SHOW PROOFS…
[B]Money talks, Bullsh*t walks. [/B]
THINK ABOUT ALL THOSE GURUS.
THINK about james16 on forexfactory. His thread is 6500 PAGES long and is runing since 2005 !!! This guy eventually opened a private teaching group. $129 a month. NOBODY HAS EVER SEEN ANY STATEMENT OR PROOF OF HIS " Profitability ".
THINK about ICT : innercircle trader. People (including me) have been licking his ass here for YEARS. Very nice guy. Added TONS of content: forum post, youtube video. Yet the DAY he started a myfxbook he just FAILED and now he is not around any more and his thread is locked.
THINK of Jacko on FF: People licking his ass for MONTHS. Some started to be skeptics and received TONS OF INSULTS just because they were asking for proofs. Bottom line: He started to manage people’s money then some day disappeared with their money !!!
Think about all those guy in the " Holy grail section " , claiming to be " ex Barclays trader ". Getting fans in their thread for month untill they start a " private group " and start to charge.
ALL OF THEM WERE SCAM.
NONE OF THEM WERE PROFITABLE.
You have a 9-5 job and no more than 10 000 $ to put in your account ? You are trading " as a hobby " . PLEASE stop your delusion. You want money ? start a business. A REAL ONE when you are actually doing something more than clickclick. The truth of forex is that it allow any avg joe to hide behind his computer and keep dreaming about becoming rich without taking the risk of MANING UP , of taking REAL RISKS , of SHOWING HIS FACE TO THE WORLD AND FACE THE FAILURE IN FRONT OF EVERYBODY.
You can just lost 10 $ a month or play on your demo account and pretent to be a boss with your forum friends.
PLEASE STOP THIS IF YOU DONT HAVE AT LEAST 100 000 $ to invest OR a track record of more than 2 years with no DD < 30 , a stable equity curve and the BALLS To [B]go OUT[/B] to find investors. Stop. Spend time with your family. Money is NOT everything. Play with your kids instead of letting them in front of TV while you play with your MT4.
Have a nice day guys. Sorry If I break some poepl’s dream but THAT’S the truth about forex. You [B]WONT [/B]make 10 000 % a year. You [B]WONT [/B]turn 10k into a million.
You are right … and you are wrong. Yes, most traders will lose money and I have seen this over a number of years. I personally find that sadly most traders deserve to lose money. The losers are always closed to new ideas, they think they know it all and trade their own trades rather than find and follow a real and profitable trader.
I trade The Dax and over the last few years have developed a technique which makes me a steady £150,000 plus per year on just my safe trade (I have other strategies). I have the lifestyle and the Ferrari and I certainly would not have got here without trading.
My advise, find a genuine profitable trader and follow their / our trades. I know 3 guys and myself that have made it … Dont give up … there is hope
I’m very happy for you (sincerly, I don’t envy people) If you genuinely [I]became [/I]rich ( Which mean that didn’t have an enormous capital, and that you multiplied it to a serious level ) through your trading.
Let me tell your my opinion:
The losers are always closed to new ideas, they think they know it all and trade their own trades rather than find and follow a real and profitable trader.
One could say that:
If you are always changing your system you will never learn anything. YOu have to be disciplined and to stick to one thing.
Since 99% of the " profitable traders " a liers, of course I wouldnt advice anybody to jump from a scammer to another, which would result into a serious waste of time.
Your advice is to find a genuine profitable trader and follow their trade ? but this is challenge my friend, because as I said how do you know that one is profitable ?
I don’t want to be rude but you claim to be profitable and you have a beautiful picture with a ferrari.
Do you have any proof that you are profitable ? A lot of people have come here before with cool picture, claiming that they were profitable.
If you have any proof, and that you are willing to teach, My ears are fully opened.
PS: Even if you don’t have proof any advice is welcomed, but you’ll just be another guy coming to talk about himself and about his method with no credibility.
Best Regards, Alex
EDIT: Oh man… I’m so sorry to see that you are another seminar guy charging people to show them how to make money… and the best in that is that there is no proof of your profitability. Or I didn’t checked your website properly ? If there is no proof ( please don’t link me any testimonials, show me a statement ), you are just the exact type of " guru " that i’m talking about in my initial post.
PS:
That is not true … and anyway, why wouldnt you pay £796 to make over £150,000 per year. I guess you would prefer to continue treading water … oh well, up to you
I noticed your original post was long on what a new trader shouldn’t do and why they will fail, but besides looking at someone’s myfx account and having at least $100,000 to start with, nothing else. There’s no guarantee that if you invest at least 100k and follow some ones myfx account a trader will be successful.
When someone tells me I have the true holy grail, and I can show you how to turn a $100 into a $100,00 in 30 days if follow my plan to the letter, I don’t need to see testimonies, myfx or anything else, to find out if he;s full of sheet (i). For one I have a very good understanding of the foreign exchange and that’s how I know he’s/she’s more likely a marketer than a trader.
People who lose money in forex, lose it for the same reason most people lose money; “expectations” They think all they have to do is buy some course, read a couple of books, go to a work shop or one of my personal favorites; open up a $100 account trade and lose the money so you can learn what it feels like to lose and that will give you patience and discipline. Just doing that will give you no better chance at success in trading as it would in any profession.
For example again take your original post. You start off saying the best fund managers get this by doing or because of that so what chance do retail traders have. For me I know your statement is incorrect and misleading because again of I enough basic knowledge to know that I want to compare retail traders to retail traders, not institutions to retail. Entirely different strategies. Hopefully some former institutional traders who have left institutional side and are trading on the retail side will let us know the differences.
There’s secret on how to become a profitable retail trader. It’s the same journey that anyone who wants to go into their own business or profession. You think that a doctor, lawyer, accountant or fund manager became successful by reading one book, going to one seminar, trying to decide both sides of a debate with no knowledge of what the debate is about? No software, myfx or a couple of months trading $100 accounts or any of the previous stated stuff will give you enough to be successful.
You need to have a deep deep understanding of the basics, learning and practicing with an end goal of how to become a professional retail trader or investor. Just like any profession it’s an ongoing learning process. It starts with learning the basices, then practicing what you’ve learned until it becomes second nature. You must formulate a trading plan, like any other business should have a business plan. That plan has to have a trading method that based on the balance of probabilities, not some ones myfx account or a box set of cd’s or following some trader who has 6500 pages in his thread. That method over the long run, not a week, month or year, but long term. Next you need to have enough money to finance your journey, there’s no set amount, but whatever the amount the rules are the same; first always protect your account balance for the long term, while still slowly building it. Then you need the patience and discipline to work your method and money management plans consistently and faithfully while keeping your eyes and ears open so if something comes your way the only thing you have to decide is, "will this help me get closer to my goals long term or make it harder for me to reach my goals long term, Of course just my opinion
Gp
Sorry to say but your post is one entire bulls*it story… What you want here is someone to come here and take you by your hand show you his statement where he is profitable and than teach you his system. Right, how about no. How about you learn to trade for real, without some “highly profitable” systems out there.
Then you need to learn what position sizing means… Yes you can make it, and live of 10 000$ account.
I am sorry (well I’m not - professional courtesy) that you lost your money…everyone lost money on their way to learn how to trade, and no no one is under obligation to prove you anything.
So enough of rage talks and go read or re-read some trading books.
Sorry to say but your post is one entire bulls*it story… What you want here is someone to come here and take you by your hand show you his statement where he is profitable and than teach you his system. Right, how about no. How about you learn to trade for real, without some “highly profitable” systems out there.
Then you need to learn what position sizing means… Yes you can make it, and live of 10 000$ account.
I am sorry (well I’m not - professional courtesy) that you lost your money…everyone lost money on their way to learn how to trade, and no no one is under obligation to prove you anything.
So enough of rage talks and go read or re-read some trading books.
You seems to be agitated. Sorry If I broke your dream. You’ll thanks me in a couple of years. Are you seriously talking to me about position sizing bro ? LOL.
One: Just curious as to why DAX is making the rounds in a forum devoted to Fx trading
Two: On the thread, well, traders do make money for if they did not, guess there’s a market to gull newbies into ponying up for free advice and recouping the money. The point being, that most newbies do lose their shirt but that does not mean that no one makes any money out of the market, they do.
Three: I have been trading profitably for a while now and no, I am not offering any course on how to do it. It all comes down to what you have learnt and how you apply it - learn the basics and apply the same, good luck on your journey and for the record, the rant was interesting enough to read…
You make very valid points. The ones who are refuting your points with nonsense are probably the gurus that you speak of. I also found it very hard to find good information in forex. Bottom line is if someone out there is really profitable and has a “holy grail,” they probably wouldn’t share it or make it known that he’s making money. In this business, you almost have to learn on your own and make judgments for yourself whether you can be profitable or not, or whether what someone says makes sense or not. It’s no sheep’s game. You can’t follow your way to success… or it’s extremely difficult to without the right friends. I want to point out a mistake that you overlooked though. Change some of your filters to ‘ANY’ and you will find a few more results. This search yields 52 results with at least 1% profitable and with at least a 2 year track record and max 30%dd. Keep in mind these are also public ones. The private ones will not appear when searched for I believe. I’m not sure if he’s still around but, goldenmember from this forum showed his myfxbook with what you were looking for. He had about 2 years in and tripled his money with as stable of an equity curve as possible.
My dreams broken, by some unknown forum poster…LMAO Yes, if you wan’t to do ultra low risk trading try with a 100 bn $ account…loool man, everyone knows that the bigger the account the lesser the risk, but thanks for pointing that out for us.
And then again you are comparing the institutional traders with us retail…wrong on so many levels…head over to a FF, there’s a thread there by institutional traders, read it…
Oh, and yes you can make a living, even of 1 000$ if you know what you are doing, and judging by your tone, [B]you do not know how to trade[/B] - deal with it…either learn it or go become a doctor
And neither will I nor anybody here or on this whole internet provide any proofs to you about someones trading…you can ask for a proof the minute someone asks you the money to teach you (but I guess you never did that aside from a$$ licking part when you had the chance)
Forex is like Futures, Equities, Commodities or any other market out there…technical, fundamental and sentient analysis do work, only you need to learn (yes to learn) how to use it…
And if you don’t like it here, no problem, but don’t tell everyone else what they should do…
EDIT: Oh and I just re-read the title of your thread “can’t become rich” - there’s your first mistake, so you entered Forex as a get rich quick scheme and it didn’t work…lol Wonder why :34:
That’s just stupid. Assuming $100 per day for a single person to live decently, you’d need a 10% return per day. That’s not even counting taxes. Get out of here before you start believing what you’re spewing onto the keyboard.
I actually wrote a looong answer to your claims…but then… I realized that it’s saturday, a great day full with positive oppertunities.
So…I deletet it all, and find it better to sit this one out instead of being pulled into an argue with someone that obviously hasn’t made it yet.
Patronizing attitude can’t be cured by other than the person who holds it anyway…its futile to believe otherways.
To all of you that think life and FX trading is wonderfull no matter how wealthy you are…Have a fantastic day.
To all others who doesn’t feel that way and need to take it out on others…WORK HARDER!
All this arguing is just so confusing.
There is so much negativity pointed towards Forex that it is beginning to put me off wanting to keep learning.
I am a total noob who didn’t even know what a pip was a few weeks ago.
I have been reading and testing things out on a demo account and quite enjoying it…however…I am being realistic that I won’t have $10,000 anytime soon to use for trading.
I will start with $500 and maybe one day invest $2500…but with all this chat about not making money unless you have over $10,000…well…it kinda makes a noob wonder whether they are just wasting their time.
Can you provide any proof that you are profitable or are you another [I]profitable forum trader ?[/I] And what are you doing here if you are willing to use your time to answer such a post but not to teach us your method ? No offense sir.
Hey Insidertrading,
You make very valid points. The ones who are refuting your points with nonsense are probably the gurus that you speak of. I also found it very hard to find good information in forex. Bottom line is if someone out there is really profitable and has a “holy grail,” they probably wouldn’t share it or make it known that he’s making money. In this business, you almost have to learn on your own and make judgments for yourself whether you can be profitable or not, or whether what someone says makes sense or not. It’s no sheep’s game. You can’t follow your way to success… or it’s extremely difficult to without the right friends. I want to point out a mistake that you overlooked though. Change some of your filters to ‘ANY’ and you will find a few more results. This search yields 52 results with at least 1% profitable and with at least a 2 year track record and max 30%dd. Keep in mind these are also public ones. The private ones will not appear when searched for I believe. I’m not sure if he’s still around but, goldenmember from this forum showed his myfxbook with what you were looking for. He had about 2 years in and tripled his money with as stable of an equity curve as possible.
Myfxbook Search: Trading Systems | Myfxbook
Found his myfxbook: Euphrates System by TigrisEquity | Myfxbook
Most impressive myfxbook I found: REV Trader PRO REAL System by revtraderpro | Myfxbook
Hey Pal,
Now THAT is a constructive post. Thanks for posting this. This is true that I filtered only the manual system. A lot of automated systems seems to be doing good. Valid point. Nevertheless most of my point is still valid: Those people are making in average 100% a year (even less in fact, due to compound interest). Anyway, I never said that It was impossible to be profitable, Even myself I posted 5 profitable system with my filters. What My title is saying is that its impossible to become rich. Look at the capital of those guys. If you sart with 5k$ , would you work your ass a year only to make… another 5k $ ? and this is still the best of the best who are doing 100 % a year.
Thanks for your constructive post.
My dreams broken, by some unknown forum poster…LMAO Yes, if you wan’t to do ultra low risk trading try with a 100 bn $ account…loool man, everyone knows that the bigger the account the lesser the risk, but thanks for pointing that out for us.
And then again you are comparing the institutional traders with us retail…wrong on so many levels…head over to a FF, there’s a thread there by institutional traders, read it…
Oh, and yes you can make a living, even of 1 000$ if you know what you are doing, and judging by your tone, you do not know how to trade - deal with it…either learn it or go become a doctor
And neither will I nor anybody here or on this whole internet provide any proofs to you about someones trading…you can ask for a proof the minute someone asks you the money to teach you (but I guess you never did that aside from a$$ licking part when you had the chance)
Forex is like Futures, Equities, Commodities or any other market out there…technical, fundamental and sentient analysis do work, only you need to learn (yes to learn) how to use it…
And if you don’t like it here, no problem, but don’t tell everyone else what they should do…
EDIT: Oh and I just re-read the title of your thread “can’t become rich” - there’s your first mistake, so you entered Forex as a get rich quick scheme and it didn’t work…lol Wonder why
Tons of insult , high agressivity, 0 argument.
Also: “yes you can make a living, even of 1 000$ if you know what you are doing”. By saying this everybody here knows that you don’t know what you are talking about.
That’s just stupid. Assuming $100 per day for a single person to live decently, you’d need a 10% return per day. That’s not even counting taxes. Get out of here before you start believing what you’re spewing onto the keyboard.
Hell ! Even 10$ per day would mean 1% a day, which means 3700 % a year LOL.
I actually wrote a looong answer to your claims…but then… I realized that it’s saturday, a great day full with positive oppertunities.
So…I deletet it all, and find it better to sit this one out instead of being pulled into an argue with someone that obviously hasn’t made it yet.
Patronizing attitude can’t be cured by other than the person who holds it anyway…its futile to believe otherways.
To all of you that think life and FX trading is wonderfull no matter how wealthy you are…Have a fantastic day.
To all others who doesn’t feel that way and need to take it out on others…WORK HARDER!
Hey Scorpius,
You are telling us that you wrote a big constructive post and that you deleted it to just write a couple of line about positivity and psychology and stuff. Which bring nothing on the table. I like to be a positive guy but " positivity " has limits. You dont just jump out of the window being " positive about your ability to fly, cuz everything is possible ". Druged people does that. Oh yes they are full of positivity. And then they die
" [I]with someone that obviously hasn’t made it yet. [/I]". Are you implying that people here made it ? Did you made it bro ? Do you have a myfxbook ? a statement ? can you prove that you made it ? No offense. Nobody is making money here anyway.
All this arguing is just so confusing.
There is so much negativity pointed towards Forex that it is beginning to put me off wanting to keep learning.
I am a total noob who didn’t even know what a pip was a few weeks ago.
I have been reading and testing things out on a demo account and quite enjoying it…however…I am being realistic that I won’t have $10,000 anytime soon to use for trading.
I will start with $500 and maybe one day invest $2500…but with all this chat about not making money unless you have over $10,000…well…it kinda makes a noob wonder whether they are just wasting their time.
What is confusing my friend ? look at my post. Argument. Numbers. Link. Facts. Look at my detractors’ posts: Nothing but rambling. About being positive. Absurd numbers ( living from 1k capital LOL ).
The only thing that you can do with 10k is train yourself so when you have a solid track record you can sell you house, put all your money in the forex and trade it like a pro. OR look some venture capital.
You WONT live off of 10k.
This is what newbies dont wanna hear. You will wnat to hear does people full of positivity telling you that you can make it. I’m not telling you to [I]believe me[/I], i’m telling you to think about my arguments and to look at the fact I’m pointing out.
Again, I have never said that it is not possible to be [B]profitable[/B].
I’m saying that it is not possible to[B] become rich,[/B] becoming rich means going from a modest capital to a big one, like turning 10k into a million.
Lemme talk to you with more maths:
To have consistent returns ( which mean that you are working and not gambling ) you need to have a stable equity curve AND low Drawdown. To have a stable equity curve and low DD you need to lower your risk AT THE MAXIMUM.
A system who provide 35 % a year for 5 years WOULD NOT perform better if you leverage it. It will go bankrupt.
You want to live off of this thing ? Hustle. Put some money aside. Start a company. Speculating activities are for people with ENORMOUS CAPITAL. Make yourself some serious money then trade it.
Think about it this way: trading will bring you serious interest, but will never multiply your capital to the sky. [B]At least, not with forex trading by using Fundamental / technical analysis.
[/B]
So someone has to show you his track records…and you are?
You mean if someone doesn’t agree with you and shows that your so called “arguments” are invalid, he is aggressive… lol talk about can’t handling the real truth
And there again you ask, no you demand from someone to show you their statement…are you some kind of authority? Do you work for government? What gives you the right to question someone, who doesn’t even know you? Are a Identity Thief?
Arguments? What arguments? You went to myfxbook site and pulled some statements. And they show us what exactly? Are all traders in the world registered at that site? Does someone who makes money trading have the obligation to register there and show you his proofs? Are you delusional?
Yeah, let’s see this math of yours… Start a company, lol. I see that you never started a company in your life. Do you know how much money you need to start a company? No, seriously, do you know how much money is needed to start a company? And after you start a company what are your chances to succeed.
An then you talk about systems…there are no systems, there is only trading. As long as you are looking for “a system” you will fail. There is only money management, and making your average win > than your average loss.
I still don’t get it bro. You might need to break it down a bit for us simple folk to understand. What are you trying to tell us that we should already know…
I say go for it bro. Get rich quick, it ain’t gonna happen. But if you are prepared to do this for say the next 20 to 30 years you can build wealth. So the theory goes.
As a parent we teach our kids they can be anything they want. Yet as we get older we start to get told what it is we can’t do. You don’t have the knowledge. You don’t have the capital. Your eyes are the wrong color. Thing is, we can do it. If we want it bad enough.
Yes, if you wan’t to do ultra low risk trading try with a 100 bn $ account…loool man, everyone knows that the bigger the account the lesser the risk, but thanks for pointing that out for us.