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Why is this unrealistic? Or is it?

  • #21
  • Edited 6:18am Apr 12, 2011 5:13am | Edited 6:18am
Quoting Custos
That is a 185% (compounded) on initial investment over a year. I think that can be achieved, if one has the right system.
sorry, forgot a month, it's actually 214%. This is still achievable, but again you need the right system.
You can't do that with every system you come across.
  • #22
  • Apr 12, 2011 5:15am Apr 12, 2011 5:15am
Remember, the best traders in the world, such as Warren Buffett, even he doesn't make 100% a year.
Enter Signature
  • #23
  • Apr 12, 2011 5:22am Apr 12, 2011 5:22am
Here is one thing I really, really, really do not get. In the beginning it was stated that anyone making 200 percent per year would quickly surpass Warrent Buffett in terms of wealth, and therefore it would be absolutely completely extraordinarily impossible that such a guy even existed and if he did then he would certainly not be running a live trade room, but be a hedge fund manager.
Yet later in the thread, at least Custos agrees that indeed 200% roughly per year is not all that far fetched.
And another trader, Lovinit, claims he makes 20%+ per month.
Wow, Lovinit must be a reaaaaally well paid superduperbighshot hedge fund manager then, right? Why is he hanging out on forex factory?


LasVahGoose, obviously one would have to adjust ones money management based on the expected max drawdown that is expected to possibly occur each week, month, day - which I guess would be based upon past history.
Wouldnt one have to say that past history is all we have as an indicator of future results, what else would we use as an indicator?
  • #24
  • Apr 12, 2011 5:33am Apr 12, 2011 5:33am
Quoting vosterfxandy
Remember, the best traders in the world, such as Warren Buffett, even he doesn't make 100% a year.
Buffet isn't a trader.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #25
  • Apr 12, 2011 5:40am Apr 12, 2011 5:40am
Quoting dice action
Yet later in the thread, at least Custos agrees that indeed 200% roughly per year is not all that far fetched.
And another trader, Lovinit, claims he makes 20%+ per month.
Wow, Lovinit must be a reaaaaally well paid superduperbighshot hedge fund manager then, right? Why is he hanging out on forex factory?
I am a she, by the way, not a he. I hang out on forex factory because in between candle closes I need some diversion ...so I come here for some distraction, and also one is ALWAYS learning (which is why I was interested in the weekend webinar), the minute you stop learning you go backwards. I am not a well paid superduperbighshot as you say...you are assuming everyone starts with several hundreds of thousands to trade, I didn't.

As Custos says, 200% is not far fetched to the experienced consistent trader, but until you really understand how you made that 200% and what it takes to make it, you may lose that 200% the next year. You have completely glossed over the issues I talked about in my post...if your mindset is not in tune and focused, even with a winning system, you will lose...as Jesse Livermore explains in his book.
  • #26
  • Apr 12, 2011 5:43am Apr 12, 2011 5:43am
Wow, the B.S. in this thread has gone from ankle deep to knee high. I'm pretty sure the trend will continue to pile up.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #27
  • Apr 12, 2011 5:57am Apr 12, 2011 5:57am
Quoting dice action
Here is one thing I really, really, really do not get. In the beginning it was stated that anyone making 200 percent per year would quickly surpass Warrent Buffett in terms of wealth, and therefore it would be absolutely completely extraordinarily impossible that such a guy even existed and if he did then he would certainly not be running a live trade room, but be a hedge fund manager.
Yet later in the thread, at least Custos agrees that indeed 200% roughly per year is not all that far fetched.
And another trader, Lovinit, claims he makes 20%+...
well, you forget the leverage factor one has in forex, which is non-existent once you reach a certain size, so divide the 200% up by 50 leverage and you got 4% a year in forex.

But I have no idea why you are so angry or whatever. You wanted to know why most are not millionairs following a guru. I just stated objectively what I believed.
  • #28
  • Apr 12, 2011 6:06am Apr 12, 2011 6:06am
I am not angry. I appreciate the responses, I am just asking about things that I dont understand.

What do you mean the leverage factor. Sorry I dont get it, unless you are a billionaire or whatever I dont see how forex traders would not enjoy this type of leverage.
Sorry if I misunderstood you
  • #29
  • Apr 12, 2011 6:09am Apr 12, 2011 6:09am
Quoting dice action
I am not angry. I appreciate the responses, I am just asking about things that I dont understand.

What do you mean the leverage factor. Sorry I dont get it, unless you are a billionaire or whatever I dont see how forex traders would not enjoy this type of leverage.
Sorry if I misunderstood you
Well, if you look at the banks, they are trading real money and not leveraged funds in the fx market. I don't think you can leverage up 10 billion to 500 billion $ for example. But this is just what I assume, I don't have any figures to back that up.
  • #30
  • Apr 12, 2011 6:11am Apr 12, 2011 6:11am
I believe a number of posters have already given similar valid answers but maybe I can reinforce the points.

1. Yes of course you can make high returns trading forex, but it is not a cash cow that will always pay you consistently week on week and maybe even sometime month on month. So yes in theory you could follow a guru if there results were real, but the problem arises when the guru hits a losing streak... Because you don't necessarily know the system as they do would you have the confidence to continue trading? I bet they would,hence in the end they will come out profitable and you may not.

2. Forex can be extremely rewarding you just need to put in the work. I think ultimately what everyone has been trying to say is there is no shortcut to success, if you put in the work early on you will be paid in the long run.
  • #31
  • Apr 12, 2011 6:13am Apr 12, 2011 6:13am
Quoting Lovinit
I am a she, by the way, not a he....
Miss Lovinit,
My point wasnt really about why you are here, it was kind of retorical if you get my drift. My thought is why is it so inconceivable that some guy out there who has a live trade room service may average 10 percent per month, if you are averaging 20 percent per month.
If I could pay YOU for signals and try my best to mirror your trades perfectly, would it be impossible to make that work too?
True, I havent yet addressed the points you made. I will have another look at them
  • #32
  • Apr 12, 2011 6:17am Apr 12, 2011 6:17am
Quoting Custos
Well, if you look at the banks, they are trading real money and not leveraged funds in the fx market. I don't think you can leverage up 10 billion to 500 billion $ for example. But this is just what I assume, I don't have any figures to back that up.
OK, but is this relevant to whether it is conceivable that a person can run a live trade room and make 200 percent per year and still not be a tycoon?
Why is it so impossible that a person who offers trade calls to subscribers can be as consistently profitable on average over time as some of the people here at forex factory?
  • #33
  • Apr 12, 2011 6:21am Apr 12, 2011 6:21am
Quoting dice action
Here is one thing I really, really, really do not get. In the beginning it was stated that anyone making 200 percent per year would quickly surpass Warrent Buffett in terms of wealth, and therefore it would be absolutely completely extraordinarily impossible that such a guy even existed and if he did then he would certainly not be running a live trade room, but be a hedge fund manager.
Yet later in the thread, at least Custos agrees that indeed 200% roughly per year is not all that far fetched.
And another trader, Lovinit, claims he makes 20%+...
also when I said that 200% is achievable, it must be a seriously robust system you trade, that is based on lots of research.

Also achieving high consistency there is pretty hard. But if you look at sperandeo or other really good traders, they also achieved high returns with robust systems. In terms of consistency one might want to aim much lower, but I think if somebody is lucky enough and has worked hard enough, he can factor in lots of variables leading to superior returns.
  • #34
  • Apr 12, 2011 6:25am Apr 12, 2011 6:25am
Quoting dice action
OK, but is this relevant to whether it is conceivable that a person can run a live trade room and make 200 percent per year and still not be a tycoon?
Why is it so impossible that a person who offers trade calls to subscribers can be as consistently profitable on average over time as some of the people here at forex factory?
Well, it is just an assumption based on experience. But you can for sure prove me wrong. Maybe he is the real deal, maybe not. I don't know.

As I told you, you should find that out yourself, but not with lots of money. Can just speak from experience, in my early days I went also from course to course, but in the end they just repackage crappy systems that won't work over the long-term.
  • #35
  • Apr 12, 2011 6:36am Apr 12, 2011 6:36am
Quoting Lovinit
Because you can't just replicate someone else...the reason why people can't follow someone else's system is that each trader's eyes see different things, their brains tell them different things, they are not machines that can execute fast when, and only when, they are told to....
To be honest, I dont really get the whole "oh I have to change it" mentality. I am not that passionate or opinionated about trading, yet. I get the idea that if you do x - play ALL the trades with the same money management - you get result Y. And if you change anything, you may end up not getting result Y. So I prefer to just keep it simple. Why not?
To me I dont think it matters that much "oh but the macd is showing this, and look at the divergence", whatever. To me, macd is not like world politics, I dont care that much, Im ok with following the fx calls for the time being.
Not having an inordinate amount of trade calls each day would obviously be a huge advantage, so goes my thinking.
  • #36
  • Apr 12, 2011 6:40am Apr 12, 2011 6:40am
Quoting dice action
I am struggling with a philosophical issue:
How come not all forex traders are rich?
...
here is a philosophical & logical comment:

why do we have words like ''good', 'better', 'best'?
why not everyone is an olympian?
why are there athletes & 'super' athletes?
why cant everybody sing? & sing well? sing very well?
why cant we get 100% or A+ as grades on all our tests & subject in school?
why cant everyone climb & summit a mountain? why is it that only a few people get to successfully summit Mount Everest?
how long does it take to be a good athlete/drummer/guitarist/pianist? an excellent musician/athlete?

& so on... & so forth...
  • #37
  • Apr 12, 2011 6:44am Apr 12, 2011 6:44am
Quoting supremeChaos
here is a philosophical & logical comment:

why do we have words like ''good', 'better', 'best'?
why not everyone is an olympian?
why are there athletes & 'super' athletes?
why cant everybody sing? & sing well? sing very well?
why cant we get 100% or A+ as grades on all our tests & subject in school?
why cant everyone climb & summit a mountain? why is it that only a few people get to successfully summit Mount Everest?

& so on... & so forth...
somewhat off topic. The mystery, or question, is whether one can succeed by doing it "the simple way", and if so, why not more people are doing just that, instead of struggling to learn it by themselves for years and years.
  • #38
  • Apr 12, 2011 6:46am Apr 12, 2011 6:46am
Dice, you ask your 'philosophical' question like you really want to know the answer, but then when you get loads of possible answers all you want to do is disregard them...well if you think the answers are worth so little and you are not open to them, then go ahead and show us all you can do it...I'm sure the journey will be interesting for us all to hear about if you want to take it...
  • #39
  • Apr 12, 2011 6:51am Apr 12, 2011 6:51am
Quoting Lovinit
Dice, you ask your 'philosophical' question like you really want to know the answer, but then when you get loads of possible answers all you want to do is disregard them...well if you think the answers are worth so little and you are not open to them, then go ahead and show us all you can do it...I'm sure the journey will be interesting for us all to hear about if you want to take it...
What am I disregarding? I would like to know, yes, and I am not disregarding the answers, merely pointing out inconsistencies and offering my own thoughts on the topics raised, in the hope of provoking better answers, or elaborations on previous ones.
  • #40
  • Apr 12, 2011 1:22pm Apr 12, 2011 1:22pm
Quoting dice action
What am I disregarding? I would like to know, yes, and I am not disregarding the answers, merely pointing out inconsistencies and offering my own thoughts on the topics raised, in the hope of provoking better answers, or elaborations on previous ones.
Hi dice action,

I believe you are disregarding my question. If this supposed guru has discovered a way to consistently achieve 200% returns why would he be selling it on a monthly subscription website?

Regards,

Dan
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