Do full-time forex traders exist or is it just make believe?

Quote from Xspurt:

I said I would post 2 statements from the rookie, the first showing he hammered the account in week 1 with an approx. 25% loss. Furthermore I said I made an inadvertent mistake when I claimed he had made $10K in a single day after 6 weeks growth - apologies to all concerned. It was interesting to see you delight in the assumption it was below $10K, but I didn't say that. I only said I was wrong. His dad had added to his account and without telling me he traded at $500/pip instead of $100/pip. Instead of making the $10K I reported he had made he actually made just over $50k in a single day.

I don't know how to put them all here in one go so I need to post them as 3 separate posts.

He trades full time, only trades the EUR/USD and this is his only source of income. As it stands, if he doesn't increase his $/pip the amount he is making pm will take him over the $1mm. There is scope for considerable growth in the amount traded per pip which currently stands at $140/pip. You're nuts if you think I need to vend anything.
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On the rookie's big profit day it seems he broke a very important rule, holding overnight & taking a huge risk, as you told him in the chat log you provided.

That particular trade sounds more like a lucky gamble & an emotional screwup. Sometimes you get rewarded for doing the wrong thing.

Does he follow the framework of small stops & strong setups as you mentioned elsewhere on the rest of his trading days? If he takes one too many huge, reckless risks it'll come back to bite him sooner or later.

Is the rookie a daytrader, or does he often hold overnight? Can you provide any particulars of his trading method?
 
May I suggest looking into setting up your own FX dealer--- contact Boston Technologies or one of the other consultants in the business. I have done this-- you will quickly learn what these people think of the end user (YOU) and how little regard other than an income source they have for you. The tables are heavily slated against you per these folks own material.

Look for yourself, don't be stupid.

surf
 
http://www.myfxbook.com/faq

Is it possible that someone's trading results are fake?

We are taking every possible measure to ensure that track records are not faked. At the top of every system page you'll notice if the account has been verified.
Please note that verified accounts might have some inaccuracies which are out of our control, so if you feel something is off, please let us know.
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Hopefully this Brazil guys results pass the test.

It would be cool if someone was really making great returns in a bucket shop. (without having the plug pulled on him-- because we know these shops DO NOT want to see their customers be profitable!)

Look at all these systems:
http://www.myfxbook.com/most-popular-forex-systems

triple and quadruple digit % gains, etc-- most of them stating they are real money accounts.

so can we trust this site or not? :confused:
 
because we know these shops DO NOT want to see their customers be profitable!)
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Would they not make more over the long term with a large book of very active traders, as opposed to accounts rising and setting like the sun dropping $200 into the company accounts before the trader gives up and is never seen again?

Some are the scum of the earth and outright criminal, for the majority however we have to keep in mind there is a big difference between them making a profit on a traders loss and them not wanting to see any trader make any profit at all..
 
one time, someone mistook me for some kind of big private equity guy. No problem, I got wined and dined (and I can't eat that much anymore, so it was mostly wined.)

I forget what country it was (I think Israel) or Istanbul or some place like that, but they started bucket shops.

According to the initial report, the bucket shop just broke even on the business, they made their money by trading against the clients.

You have to think about that one for a little while.

So they wanted me to take my hard earned money and bet against human nature. According to them, it has worked many times, all over the world.

I guess the worst that could happen is I would have broken even. But you know, the whole time in the back of my mind I had the feeling that someday I would end up as the sucker on "American Greed." (I mean these guys were real slimeballs.)
 
I once opened an account with an FX broker, infact it was my first. I had zero expereince dealing with such entities yet even so when I was simply emailed my account details with no request of ID or proof of adress any chance of me wiring money to them evaporated, but then I found the claimed location of their business and realised there is no way on earth I would have ever sent them funds anyway :D
 
Quote from sheda:

I once opened an account with an FX broker, infact it was my first. I had zero expereince dealing with such entities yet even so when I was simply emailed my account details with no request of ID or proof of adress any chance of me wiring money to them evaporated, but then I found the claimed location of their business and realised there is no way on earth I would have ever sent them funds anyway :D
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If it makes you feel any better, when they say 95% lose, they are including the people that wired them funds
 
Quote from Ol' Yella:

http://www.myfxbook.com/faq



Hopefully this Brazil guys results pass the test.

It would be cool if someone was really making great returns in a bucket shop. (without having the plug pulled on him-- because we know these shops DO NOT want to see their customers be profitable!)

Look at all these systems:
http://www.myfxbook.com/most-popular-forex-systems

triple and quadruple digit % gains, etc-- most of them stating they are real money accounts.

so can we trust this site or not? :confused:
More...

0) NEVER BELIEVE **DEMO** RESULTS. They do not reflect "broker games" as I've already mentioned in these forums. As I said, IRON FX DOES play games. Thinkforex and Dukas, no. When people try to show me demos on Facebook, I say DEMO DOESN'T COUNT because the brokers have no financial benefit to play games with demo accounts. All of my accounts are LIVE.

1) Genius, like I said, I'm going to start doing TRIPLE verification -- putting trades on twitter. Myfxbook just put that statement in there to protect themselves from lawsuits. Lemme tell how their vefication works: They give you an investor password. You change your investor password, and they connect to your brokers server to verify your information. Do I really need to re-schedule the combine from that company to show you people? The tech support girl acknowledged my desire to cancel today, but said someone would call me tomorrow.

2) I'm not Brazilian by the way, I'm actually American, but I live in Brazil.

3) What next, I print out my MT4 account statement and you will say that I edited the images. Jeez, you people are eternal losers. If you truly think I'm making this up, feel free to PM me. I will give you my address. You come here and I will take you to the snack bar where I made ALL of the trades in Jan - Feb up to 48% performance. I showed the owner of the bar when I was making the trade and when I was exiting the trade. What then, you say that I paid him to say that? Ha! You can't because I have at least 5+ witnesses.

Crazy high performance on a demo account is 1,000% in one month. Me trading manually and getting 90% in 3 months isn't crazy.
 
Quote from trade4you_brazi:

0) NEVER BELIEVE **DEMO** RESULTS. They do not reflect "broker games" as I've already mentioned in these forums. As I said, IRON FX DOES play games. Thinkforex and Dukas, no. When people try to show me demos on Facebook, I say DEMO DOESN'T COUNT because the brokers have no financial benefit to play games with demo accounts. All of my accounts are LIVE.

1) Genius, like I said, I'm going to start doing TRIPLE verification -- putting trades on twitter. Myfxbook just put that statement in there to protect themselves from lawsuits. Lemme tell how their vefication works: They give you an investor password. You change your investor password, and they connect to your brokers server to verify your information. Do I really need to re-schedule the combine from that company to show you people? The tech support girl acknowledged my desire to cancel today, but said someone would call me tomorrow.

2) I'm not Brazilian by the way, I'm actually American, but I live in Brazil.

3) What next, I print out my MT4 account statement and you will say that I edited the images. Jeez, you people are eternal losers. If you truly think I'm making this up, feel free to PM me. I will give you my address. You come here and I will take you to the snack bar where I made ALL of the trades in Jan - Feb up to 48% performance. I showed the owner of the bar when I was making the trade and when I was exiting the trade. What then, you say that I paid him to say that? Ha! You can't because I have at least 5+ witnesses.

Crazy high performance on a demo account is 1,000% in one month. Me trading manually and getting 90% in 3 months isn't crazy.
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making 90% in three months does not a full time forex trader make
 
@Stela, stick to top rated brokers. There are a few good forex brokers out there, like Thinkforex. I have an account at IronFX (with the nosebleed high results), but I wouldn't recommend them. I feel that a trader could have even better perfomance with Thinkforex due to the tighter spreads. Spreads on XAUUSD and EURGPY are roughly half at Thinkforex than Iron.

If you're US-based, I would recommend MB Trading. Their execution is very good too. Some people praise Oanda, but I prefer MB. If I lived in the US, my account would still be with MB.
 
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