50-100% monthly returns

I would not have a clue if this person actually makes money but of course it is possible, and many people who do trade for a living on their own account would do similar.

The compounding argumemt is just daft and shows a complete lack of understanding by anyone who posts it.

Buffett's performance is outstanding because of the size he has to trade which requires a completely different approach and a far longer time horizon on his investments. He is an investor.

A trader has much shorter time horizon. Say he has $100k he uses as margin and trades up to $2.5m a clip. Making $50k a month really isnt that difficult or unsustainable.

However doing those kinds of sums with say even $5m of capital is far far more difficult, especially these days with liquidity far worse than even 2 years ago when the likes of AIG, Bear Stearns etc were supporting the market.
 
lol, I did not have such a good laugh in a long time ;-)

He makes 50% monthly but only keeps 50k in his account? And he trades with fxcm? Well I guess I found out what is going on, he must be paying all he makes to fxcm through the spread and the little he has left before he re-sets his account to 50k is used to finance his burgers and to make the monthly lease payments on his car.

What a pathetic story but still made me smile. Thanks for the chuckle.

Quote from fxtradeprodigy:

I, too, am suspicious but he showed me actual statements. Apparently, he withdraws all monthly profits and only keeps $50K for trading capital since it is the amount eligible for broker insolvency insurance he said

Anyway, the other thing I was wondering is wouldn't his broker "make" sure that he loses all his profits after a certain amount of time has passed?

After all, it is the broker's money that he has banked???

He trades with FXCM by the way.
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lol, go suxx dixx you coxxsucker. you have NO idea what you are talking about, LOL


Quote from fxtradeprodigy:

I wasn't able to compute his monthly returns just by having a quick look at his online statement but he does take out $20K+ very frequently. It even looked like he withdrew that amount as an average every month.

I don't know the guy. He's my friend's friend so I can't speak to his honesty but he was honest enough to say that his track record is only recent (1.5 - 2 years I think).

But if you think about the profit potential in forex, 50% every month should not be that hard.

It is only 12% profit every week.

If you can't do that, you suck as trader
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Quote from fxtradeprodigy:

Correct. You certainly are not.

Hey this is fun. :D
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It would have been more fun if you hadn't demonstrated a basic ignorance of grammar and english, and included a subject... :D
 
Quote from observer67:

I started investing 2 months back. Also I am not compounding. But the forex company has been paying since 18 months.
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Could you elaborate on which Forex company you use? Thanks.
 
Quote from clacy:

I'm saying you're lying.

I've never claimed to be a day trader, as I have a six-figure sales job. I swing/position trade stocks for the most part and have done very well this year, and was only down 5% in 2008.

I do not believe for one second that you can consistently make 3%/day.

Achilles, what is your account value?
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Because you can't daytrade, nobody else can?? Lol.

You don't know what you're talking about.

Don't get in the way of others who might succeed where you failed.

And no, I won't tell you my broker or account value. Will you demand audited accnt statements next ? :D
 
Quote from achilles28:

Because you can't daytrade, nobody else can?? Lol.

You don't know what you're talking about.

Don't get in the way of others who might succeed where you failed.

And no, I won't tell you my broker or account value. Will you demand audited accnt statements next ? :D
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I've never day traded, so no I haven't failed. I make too much money in my career to walk away from it for a profession that has a 90% failure rate.

And I've never said that you can't day trade successfully. Obviously it is done by many.

However averaging 3%/day *consistently* (let's say over the course of 2 yrs) is just another internet claim that can never be backed up.

I just don't believe you, that's all.
 
Quote from clacy:


However averaging 3%/day *consistently* (let's say over the course of 2 yrs) is just another internet claim that can never be backed up.

I just don't believe you, that's all.
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Anyone that tells me that they can average 3% per day consistently is full of crap and I am a profitable daytrader.
 
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