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Has anyone become wealthy from forex? 172 replies

Why the rich could not become richer? 13 replies

Will most Forex brokers even allow you to become rich? 6 replies

Has MT4 Multi Account Terminal trading become obsolete? 2 replies

Has trading become harder? 0 replies

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Who has become rich trading forex?

tbh if you have a good strategy, trustworthy broker and good money management this business only goes in one direction and thats a profit . personally i think 100% per year is not hard. I know people achieving that monthly and every 2 months .
Quoting leor
tbh if you have a good strategy, trustworthy broker and good money management this business only goes in one direction and thats a profit . personally i think 100% per year is not hard. I know people achieving that monthly and every 2 months .
Of course, 100% is not hard, the hard part is in making sure that it is a gain rather than a loss
100% profit per quarter isnt even to hard i achieve been achieving this since january, tbh good money management and a strategy with a decent win/'loss ration and good risk to reward 2:1+ is all you need
Quoting leor
100% profit per quarter isnt even to hard i achieve been achieving this since january, tbh good money management and a strategy with a decent win/'loss ration and good risk to reward 2:1+ is all you need
100% per year or per quarter? Thats unrealistic.

The most important thing for a Trader is to have realistic profit expectations. No one does 100% per year - no one ever has, no one ever will.

If you would make 100% per year, every prop firm would hire you immediately. Problem is, they don't - because you don't make 100% per year.

If you make 20% per year you are already belong to the elite in the FX market. The pro's make about 10 to 20 percent per year, if they are superb.

So whenever you hear someone saying something about >20% Profit - RUN! There is definately something wrong with the strategy.
Forex is a losers game.
Quote
trader121

100% per year or per quarter? Thats unrealistic.

The most important thing for a Trader is to have realistic profit expectations. No one does 100% per year - no one ever has, no one ever will.

If you would make 100% per year, every prop firm would hire you immediately. Problem is, they don't - because you don't make 100% per year.

If you make 100% per year you are already belong to the elite in the FX market. The pro's make about 10 to 20 percent per year, if they are superb.

So whenever you hear someone saying something about >20% Profit - RUN! There is definately something wrong with the strategy

no hedge funds/prop firm get 20% because they have larger accounts and multiple accounts to handle, 20% thats less than my return monthly seriously i think ff is full of failures to be honest. guys who just fail in forex if ur getting less than 20% a year please stop trading forex and ur better off buying a good stock and that will give u that return or even better save up a grand or 2 and buy a rolex watch in 30 years time that will of become 10x the price you bought it because it will be an antic lol. mate no offence


well i guess a prop firm needs to hire me, dont you think?

I croped out my account number but as you can see I opened my account on the 28th of january with 320GBP and by the 5th of may I have quadrapuled my account that is 340% and its now on 1400 GBP in 4months as may has only begun btw this account is a spreadbetting account as in UK it is tax free and I do not want to make the government rich of me.  don’t worry about my risk management I have a special mathematical formula for that, im an unconventional trader. This is my part time small account as I am not willing to show bigger bucks tbh your not worth the time but I thought to just destroy the myth . you can enlarge the picture to view it . i took the exact same trades on my larger account which i started with around 50x the amount as i did in the pic i showed before. btw its a live
account not a demo
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Quoting trader121
{quote} 100% per year or per quarter? Thats unrealistic. The most important thing for a Trader is to have realistic profit expectations. No one does 100% per year - no one ever has, no one ever will. If you would make 100% per year, every prop firm would hire you immediately. Problem is, they don't - because you don't make 100% per year. If you make 20% per year you are already belong to the elite in the FX market. The pro's make about 10 to 20 percent per year, if they are superb. So whenever you hear someone saying something about >20% Profit...
very funny story.
1.what's your annual profit?
2.and how much did you invest? (I'm only asking you this because if you have invested 1mil in your trading account, 20% per year sounds ok, but if you have a 1000$ account and trade your ass off for 200$ a whole year, then I wonder why do you even bother doing it in the first place).
3.do you even trade live?
Quote
the si ●

very funny story.
1.what's your annual profit?
2.and how much did you invest? (I'm only asking you this because if you have invested 1mil in your trading account, 20% per year sounds ok, but if you have a 1000$ account and trade your ass off for 200$ a whole year, then I wonder why do you even bother doing it in the first place).
3.do you even trade live?


i totally agree but 20% year tbh is still crap for an individual trader , 5%-15% per month is satisfactory
because think of it if your risking 1% per trade and you take like 20+ trades
a month that month youve risked more than 20% that entire month, so is trader 121 then telling me that what i risk a month is my return a year and thats for elite's . if this is so then people who are not elite's but are decent traders are making less than that theres no point of trading currencies i might aswell put money in a stock and leave it for 30 years .
Quoting leor
i totally agree but 20% year tbh is still crap for an individual trader , 5%-15% per month is satisfactory because think of it if your risking 1% per trade and you take like 20+ trades a month that month youve risked more than 20% that entire month, so is trader 121 then telling me that what i risk a month is my return a year and thats for elite's . if this is so then people who are not elite's but are decent traders are making less than that theres no point of trading currencies i might aswell put money in a stock and leave it for 30 years...
I really did not understand what trader121 was trying to tell us, that's why I asked him those questions.
but, as I said before, the ROI is different between account because it depends very much on the initial investment.
from my point of view, a 100% return/year on an million dollar account can be considered a viable target, and why not, even those 20% made from the same account sounds ok "enough", but, 100% from 1000$/year....?!? 20% from 1000$/year is a joke.
just as you said, it would be better to stop trading and put that cash in the bank and earn 3-4-5%/year as interrest with no risk at all.
Quoting trader121
{quote} 100% per year or per quarter? Thats unrealistic. The most important thing for a Trader is to have realistic profit expectations. No one does 100% per year - no one ever has, no one ever will. If you would make 100% per year, every prop firm would hire you immediately. Problem is, they don't - because you don't make 100% per year. If you make 20% per year you are already belong to the elite in the FX market. The pro's make about 10 to 20 percent per year, if they are superb. So whenever you hear someone saying something about >20% Profit...
Interesting. Do you have any facts and figures ? Because I personally know a few people earn more than 100% per annum. Those are not million accounts but above $10k accounts.
Well most of this discussion does not apply to the majorty of the participants here, because only 5 % make it in this market. And believe me - no one - absolutely no one in this Forum is consistenly profitable in the FX market, otherwise they would not post here, expecially not in the rookie section.
Since this is the rookie section, i just want to warn new Traders about unrealistic Profit expectations. Becuase if a new Trader Comes into this section, he might think that trading is very easy and he could make millions in no time, which is not the case. The ones that are successful in this market are very very few, and those who don't gamble, certainly do not make more than 30% per year. I would never invest into someone who states he makes 50%+ per year because this account will be wiped out sooner than he thinks.

Rookies: Always keep in mind that extraordinary profits are bound automatically to extraordinary risks. It is not possible to make high profits using low risks. Otherwise, everyone would do it and be a millionaire in no time.
Forex is a losers game.
I looked around on YouTube and found two interesting Videos that confirm my theory.

They are Pro's not amateurs like the traders on this forum, they know what they are talking about:

Inserted Video


Inserted Video
Forex is a losers game.
  • Post #232
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  • Edited May 9, 2013 2:13am May 8, 2013 2:19pm | Edited May 9, 2013 2:13am
Everyone's entitled to their opinion, but tbh trader121 your just ignorant and think everyone is like you i have showed your wrong as i have returned 300% + in 4 months but your still holding that 20% a year view , tbh you can find anyone on YouTube who will support any view. anyways this time next year id post my account balance and show you that i can sustain. besides because i post in rookie section does not mean im not succesfull in fx and to suggest that shows how ignorant you are .
@trader121

You should really ask yourself if Forex is the right thing for you. With your current level of frustration and ignorance, you probably wont succeed. No offense.

Its always the same. Somebody compares the average trader with hedgefunds. This comparison doesnt make sense, I am tired of explaining why, just use your brain or do the research. Just because you had no success so far, doesnt mean its not possible. period.

The profitibility depends on so many factors. Theres a post from "hanover" pointing them all out.

Just to give you an idea, what have influence on the % gain:

-How many trades does my system generate?
A long term trader making 5-10 trades per year would really have troubles to get the same gains a short/medium TF trader with 20 trades per month would get

-Compounding or not compounding the profits?

-How much do i risk per trade?

------------

To make systems/performance comparable, looking on the expectancy value, makes much more sense, than just looking at pip,dollars or percentages.
Has anyone using Median Lines? For the last couple of weeks I follow Forex analysis at myforexview and this looks like it can make you rich. Any advice?
There are many successful traders who has changed their life through earning from Forex and in Forex traders with proper knowledge and experience can earn money on consistent basis so learning should be the first priority of every trader.
the first time i lost 1000 usd then i was upset . i made a challenge of forex .

i deposited 30000 usd monthly and now after one year i am getting 40% of the ammount monthly , but i am trading one day a month which is my lucky day.

you need to try many stratigies to get profit by using the demo account and later if demo account

is working well you can start using live.

thanks

Ail
Only ones becoming rich are the Brokers and Market Makers... They are the 0.4% of people who take all the money that 99.6% of people lose.

Then you have the people doing a living "PROMOTING" FOREX. What do they do? They are affiliates, for example The Wizard Merlin and the guys from this forum. That's a smart move. They won't trade Forex because they know for a fact that they will lose money, instead they will promote it. Then you have people like James16 and other people who make money with his PAID Forum and teaching.

There is no single member/person in this forum, doing a decent living trading solely RETAIL FOREX on their own. That's a Fact. And this forum has more than 10,000 members.

Go figure and think about it. It's pretty simple math and pretty obvious.
The Black Swan: The Impact of the Highly Improbable
Quoting MapleLeaf
Only ones becoming rich are the Brokers and Market Makers... They are the 0.4% of people who take all the money that 99.6% of people lose. Then you have the people doing a living "PROMOTING" FOREX. What do they do? They are affiliates, for example The Wizard Merlin and the guys from this forum. That's a smart move. They won't trade Forex because they know for a fact that they will lose money, instead they will promote it. Then you have people like James16 and other people who make money with his PAID Forum and teaching. There is no single member/person...
I believe that Diceman and Davit are profitable traders on this forum.
Quoting MapleLeaf
There is no single member/person in this forum, doing a decent living trading solely RETAIL FOREX on their own. That's a Fact. And this forum has more than 10,000 members. Go figure and think about it. It's pretty simple math and pretty obvious.
HaHa! I have no interest but if I had taken you up on "your bet" from another thread, you would have surely lost. Seriously though, FOREX is my full time job, it's how I pay the bills and live a very nice lifestyle. That's a Fact!
I'd like to thank everyone for their replies, this thread has been a really interesting read.

IMHO the key to FX trading is money management. Everything else that you need stems from this... edge and discipline. I think a big problem on here is that a lot of traders don't know how to properly define what an edge in trading is, or maybe how to properly evaluate if their strategy has an edge. MM is everything.

FX has the reputation of being a risky market that's hard to trade. I think this is only true if you are using an "equities trading" mindset. FX brokers give traders more than enough rope needed to hang themselves. Proper MM takes this out of the equation and is essential for long run success.
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