How to achieve 10,000% per month in Forex | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How many achieve an average of at least 100 Pips a month? 21 replies

Vfforexlee's Journal - Achieve 5% a month 8 replies

How to achieve 99% Modeling Quality 2 replies

Achieve Balance in Your Trading/Investing, by Dr Van K. Tharp 0 replies

Read to achieve... 1 reply

How to achieve 10,000% per month in Forex

  • #1
  • First Post: Jun 8, 2012 6:42am Jun 8, 2012 6:42am
I have been following a contest on www.myfxbook.com for a month, the winning trader achieved 10,000% in 1 month. I think this is inspiring...any comments on that.
  • #2
  • Jun 8, 2012 6:54am Jun 8, 2012 6:54am
Regardless of this specific value (which was achieved at a contest), I just find it ridiculous that people aim for 10% a month and claim that it is professional and reasonable. Maybe with a huge account, yes.
Even if you fall on your face, you're still moving forward.
  • #3
  • Jun 8, 2012 9:29am Jun 8, 2012 9:29am
even if you're an insider - there is no way to have such gains in a month.
people think forex is an easy thing. the harsh truth is it's not...

i actually know a guy who had up to 10000% since he started trading 2 years ago. the guy trades on merger and acquisition news of Russian companies.
http://www.comon.ru/user/Elvis/profile/ his accounts are real, but as you can see he just had a 10000% profit in february and lost more than half of it in just 3 months...
  • #4
  • Jun 8, 2012 8:33pm Jun 8, 2012 8:33pm
Quoting CScalper
I have been following a contest on www.myfxbook.com for a month, the winning trader achieved 10,000% in 1 month. I think this is inspiring...any comments on that.
Even if you're not interested in learning how to become a consistent trader, then forex is still a darn good vehicle for those who want to gamble.
  • #5
  • Jun 8, 2012 9:34pm Jun 8, 2012 9:34pm
Quoting Ralome
Regardless of this specific value (which was achieved at a contest), I just find it ridiculous that people aim for 10% a month and claim that it is professional and reasonable. Maybe with a huge account, yes.
Ralome... I'm not going to say what is professional and reasonable... what I will say is traders who can get 10%+ per month for several decades in a row actually have books written about them, and are often considered "legendary" within the industry.

Warren buffett...who has made billions in the markets (albeit investing...still... better than any other investor OR trader...) has averaged around 20% PER YEAR, over his career.

George soros, who absolutely is a trader...his quantum fund is the greatest performing hedge fund of all time, averaged I think about 22% per year...

Paul Tudor Jones, who is a multi-billionaire trader, and one of the legends of our day, his flagship fund I think averages around 26%-28% per year.

I could go on and on and on....

And remember...these are the best. the best of the best. the ones who actually are in the magazines for being the richest because they are just that...the guys who REALLY DID make the most money in the markets.

I'm not saying better numbers arn't possible. I know for a fact they are....

but I wanted to give you just a bit of perspective on your statement that 10% is "ridiculous" .... cuz the guys who are in the books under the phrase "legendary trader" usually don't get that much per month on average over the course of their careers.

X
  • #6
  • Jun 9, 2012 2:05am Jun 9, 2012 2:05am
This is the 4th thread with the same title ..either way, yes, we can all stand around and admire the sun. Yes, there are quite a few traders who do make the big bucks but remember, it is not a case of "step 1, 2 and 3"..
  • #7
  • Jun 9, 2012 3:50am Jun 9, 2012 3:50am
Crazy percentage returns are possible

But that is limited to small fishes

As someone mentioned above that the top
Billionaire trades gain about 20% per annum

Of course they cant make 1000% returns
They are too big! They have to trade differently
Then average daytrade joe!

Do you also know that 20% of 1 billion are 200 million
Wich would be a return outa this world for daytraders!

However it is possible to make high returns if lady luck is on your
Side
  • #8
  • Jun 9, 2012 6:55am Jun 9, 2012 6:55am
stop opening such useless threads. seriously

concentrate on your trading and looking for the best opportunities and stop day-dreaming about 10%/month
Twitter: @forexpokerpro
  • #9
  • Jun 11, 2012 7:53pm Jun 11, 2012 7:53pm
Quoting BBPI_fxtrader
stop opening such useless threads. seriously

concentrate on your trading and looking for the best opportunities and stop day-dreaming about 10%/month
I second that, believe me if making money in this market was that easy - we would all have our own planet..seriously 10,000%? Come on..
Anyway, I would seriously suggest that you look more into online resources on trading rather than think of everything in terms of "enormous returns"..
  • #10
  • Jun 12, 2012 1:21am Jun 12, 2012 1:21am
Quoting Forexnuts
Anyway, I would seriously suggest that you look more into online resources on trading rather than think of everything in terms of "enormous returns"..
this !!!!!
Rookies need to understand that there is hard work involved and concentrate on work not in how much time they are going to buy their first Ferrari and stuff like that
Twitter: @forexpokerpro
  • #11
  • Jun 12, 2012 7:21pm Jun 12, 2012 7:21pm
The best way to achieve your goals is to work with the best!! i had private during 9 months and now i can say that i'm a sucessful fulltime trader
  • #12
  • Jun 13, 2012 1:14am Jun 13, 2012 1:14am
If any of the promises that the EA developers make, we would all be minting money by the nano second [psst, nano second means really fast] and through to the end of time..
If wishes were horses, I would have my own kingdom..
If I knew how to make 10,000% profit on a daily basis, I would own you and every other person on this planet..
and the bucket list goes on. Believe me, forex trading is not cakewalk and as a trader, it will be a long while before you can buy that ferrari. Wish you the best and do update us if the 10,000% profit per day comes true..in that case, clue us in on how to go about it and rest is history!
  • #13
  • Jun 13, 2012 2:05am Jun 13, 2012 2:05am
if u are making more then 10% per month on your account, u shud seriously stop trading, and reconsider your money management plan.
Trade responsibly
  • #14
  • Jun 13, 2012 9:59am Jun 13, 2012 9:59am
What does that mean? Simple, high risk is risky and in order to get phenomenal results in a short period of time there is no other way but to leverage the account to the max and have a punt. If you get it right then great, you repeat.

This cycle will end and the end product is a broken account, unless of course you run before the inevitable crash occurs. The funny thing about all these 'oh I know someone, or I am someone who made 1000% or more in a day' is that they are not around for long, they eventually explode their accounts in just as awesome fashion as they grew them, never to be seen again.

The other side of the coin is the amount in the account. Sure, what is a $100-1000 to some people. Only 2 nights ago I watched a guy blow over $3500 on a blackjack table at the casino and then reach for his wallet for round 2. Those people who make 10-20% per year, they do it with more money than 99% of people will ever see in there life time or the cumulative total of there entire families net worth. Also worth noting is that it is not necessarily their money they are risking. Would you invest 100 million with a guy who just told you he made 10000% last month in a competition, knowing the track record of participants in those comps. Seriously

So many people need a mental check up. Up until December 2011 I was closing in on 100% gains for the financial year, now 2 weeks out I am looking at 55%, phenomenal but I was bought back to earth and my risk is certainly nothing to write home about. I was lucky enough to on some of my larger sized trades get some serious runners in a row before a decent lossing streak hit me for almost 25% in a short period of time. How many losses can you take before not being able to continue. At high risk my bet is firmly with the house taking your money and you, the person taking rediculously high risk stakes, walking out the door empty handed.

RT
  • #15
  • Jun 13, 2012 12:27pm Jun 13, 2012 12:27pm
Quoting CScalper
I have been following a contest on www.myfxbook.com for a month, the winning trader achieved 10,000% in 1 month. I think this is inspiring...any comments on that.
How do make 10k%?

Easy.

Fist start with 2500 accounts, just like in the demo contest.

Max leverage each one out on volatile pairs.. the losers will have their account busted out, the winning trades might double the account if they are lucky.

Keep making full risk, all-or-nothing bets with the remaining accounts.

The odds are, you'll eventually have a few with really high returns, and a graveyard of dead accounts.

Oh, did I mention you're only comfortable busting out so many hundreds of accounts because it's demo dollars and not real anyway?


-----


Real career traders don't set their goals on 10k% in a month. They'd rather make sure they wake up the next day and can still trade.
FXGears.com
  • #16
  • Jun 13, 2012 12:30pm Jun 13, 2012 12:30pm
Quoting Jack_Larkin
How do make 10k%?

Easy.

Fist start with 2500 accounts, just like in the demo contest.

Max leverage each one out on volatile pairs.. the losers will have their account busted out, the winning trades might double the account if they are lucky.

Keep making full risk, all-or-nothing bets with the remaining accounts.

The odds are, you'll eventually have a few with really high returns, and a graveyard of dead accounts.

Oh, did I mention you're only comfortable busting out so many hundreds of accounts because it's demo dollars and...

PS. do the math:

Of that contest, the top 10's returns don't make up for half of the losses. Funny that.
FXGears.com
  • #17
  • Jun 15, 2012 3:49am Jun 15, 2012 3:49am
Quoting Jack_Larkin
PS. do the math:

Of that contest, the top 10's returns don't make up for half of the losses. Funny that.
What kind of point is that? that the top 10s profits didnt make up for the worst performing 1250s losses?


Lol....
  • #18
  • Jun 15, 2012 6:27am Jun 15, 2012 6:27am
Quoting HotBiscuits
What kind of point is that? that the top 10s profits didnt make up for the worst performing 1250s losses?


Lol....
erm, yeah, that's the point
Twitter: @forexpokerpro
  • #19
  • Jun 15, 2012 10:39am Jun 15, 2012 10:39am
Quoting HotBiscuits
What kind of point is that? that the top 10s profits didnt make up for the worst performing 1250s losses?


Lol....
Trading is about expectancy and probability... if you trade aggressively to win a demo contest (as all contestants do since it's not real money), you'll lose out more than you win, creating a negative expectancy.

So it's the kinda point that traders who focus on market probabilities and system expectancy feel stand out when assessing risk. It relates to the thread starter asking about how to make 10k%+ after viewing the demo contest results.

...
FXGears.com
  • #20
  • Jun 20, 2012 6:13pm Jun 20, 2012 6:13pm
Quoting Jack_Larkin
PS. do the math:

Of that contest, the top 10's returns don't make up for half of the losses. Funny that.
Guess the analogy you can use is "bet on all the horses and the one you bet on will win the cup" The unsaid part, your winnings may not be enough to make up for the loss on account of the "other" beasts in the show..
0 traders viewing now