I was introduced to Forex by a friend of mine who is a business partner with a professional trader. I won’t mention his name but he has been trading for 30 years and has written a book and conducts seminars on the subject. She claims that he can consistently earn 15% per month doing Forex trades. Because of his consistent results, they have opened a business where they trade OPM (other people’s money) and pay a guaranteed 5% per month for a whopping 60% per year. The other 10% per month is allocated to commissions and profit.
Does anybody know if these kind of returns are consistently possible in the hands of an extremely experienced and knowledgeable trader? My brother told me that if a person consistently made 15% over 30 years he would be a trillionaire and would have “consumed” the world’s total money supply. He did a spread sheet showing the math.
I was at a small forex meeting last month and one of the members said that if one traded the eur/$ or L/$, at approx $1.00/pip, that winning 10 pips which is $10.00/wk = 1%. 1% would yield approx 6% monthly (compounded) and 6%/mon would yield approx 100% yearly (compounded). I can’t verify the math but I was so pumped up by that I couldn’t get to sleep. A very experienced trader in the group said 300% yearly is an obtainable goal using sound money mgt + sticking to the rules of a sound strategy. Finding and using a strategy is my problem as some seem to work only in trending mkts while others work best with reversals.
If any of you want to talk to the trader I was mentioniing, please reply to my private email address which is <[email protected]> and I will be happy to give you his name and phone. Then you can call and verify for yourself and see if you want to put money with him. 5% per month does sound pretty good.
btw pipsqeak50 5% is just not enough for any of us why don�t you call your friend and ask him to rise it to at least 50% and i send him 5$ and he can trade for me.
i make weekly profit around 20%-30% and 5% is way too low
weekly 20-30% …??? wow!!! thats just funtastic…for how many months/years are you making this consitently??? and how many years of experience do you have??
btw, am a newbie and reading lessons at babypips…i have a full-time job and would prefer to start as a swing trader with a mini account…am i doing the rihgt thing?? well, i intend to do it after 6 months of demo trading…pls advise…
also, i am more interested in spending 5-10 hrs a week and make 15% a month after my 6 months of demo trading…you think i am realistic being a swing trader???
Another question: Is it good to devise my own strategy, but as a newbie what can i make?? or make use of the some strategies availabel on the net (and they post their daily returns also)…
i have just finished reading up everything on the babypips website and since been trying to demo trade. i downloaded dealbook 360 from GFT forex and each time i try to login it tells me that my login name or password is incorrect. and when i tried the offline mode,it showed a static page which i dont want to believe that is how the forex platform looks like.
Pls someone, tell me what is wrong? I would also like to know if there are better demo trading softwares to start with.thanks a lot men
one more thing, are there any traders from lagos nigeria here? if there are pls i would love to meet them
Retiring on $1,000,000.00 in 20 years may not be a doable thing to do because of inflation. If pro athlethes keep going the way they are pretty soon it will cost $1,000,000.00 just to buy a Big Mac.
