It is possible to turn a small forex account into $ Millions. Here is How...
- Thread starter beyonder
- Start date
I'm very interested in seeing the results. I've noticed many other threads starting with a premise to post all trades only to ultimately trail off into the land of nowhere. So, if anything, I hope you continue posting on this thread.
I think it's totally possible to consistently earn 5% monthly, which can turn a small sum of money into a large amount over a period of time. The only drawback is that it doesn't fulfill many individuals' needs for hasty gratification.
I know there are fx traders doubling their money multiple times a year; I'm just glad I can double my money WITHIN the year. Granted, the time horizon is longer, but after 4 years a person would have 16 times the initial sum (excluding taxes) -- which is excellent in my book.
I think it's totally possible to consistently earn 5% monthly, which can turn a small sum of money into a large amount over a period of time. The only drawback is that it doesn't fulfill many individuals' needs for hasty gratification.
I know there are fx traders doubling their money multiple times a year; I'm just glad I can double my money WITHIN the year. Granted, the time horizon is longer, but after 4 years a person would have 16 times the initial sum (excluding taxes) -- which is excellent in my book.
i wonder why they trail off to nowhere. it is possible that you could win the daytona 500, or beat tiger woods at golf, or make millions from a small account with forex. are any of there probable? no.
there sure are a lot of naive dreamers on this site.
Just for kicks here is the proforma performance of one of our trading systems...its FX only,3 instruments $/SF, $/JPY and â¬/$. It is also one of our most volatile systems as it is highly geared (for us)!!
The reason I'm posting it is that we only use a margin to equity ratio of 30% at any time during the day and no overnight positions. You will see that during a couple of months last year if we had used 100% (but we are not that irresponsible) we could have made over 100% in a month!!! Also we have never leveraged up following our gains so our margin to equity ratios have actually fallen. As a couple of contributors to this thread may or may not realize it could be possible to 'double your money' but only if you are prepared to risk the bank....no self respecting trader/manager should or would ever trade that way.
Peace & Profit
Month P&L US $ $100,000.00 % Performance VAMI
Jan'05 $19,632.70 $119,632.70 19.63% 1196.33
Feb'05 $4,077.07 $123,709.77 3.41% 1237.1
Mar'05 $70,049.98 $193,759.75 56.62% 1937.6
Apr'05 $1,644.79 $195,404.54 0.85% 1954.05
May'05 -$16,454.62 $178,949.92 -8.42% 1789.5
Jun'05 $68,238.28 $247,188.20 38.13% 2471.88
Jul'05 -$7,167.99 $240,020.21 -2.90% 2400.2
Aug'05 $46,521.06 $286,541.26 19.38% 2865.41
Sep'05 $18,230.18 $304,771.44 6.36% 3047.71
Oct'05 $37,066.52 $341,837.96 12.16% 3418.38
Nov'05 $86,359.97 $428,197.94 25.26% 4281.98
Dec'05 $60,137.18 $488,335.12 14.04% 4883.35
Jan'06 $61,730.54 $550,065.65 12.64% 5500.66
Feb'06 $16,283.72 $566,349.37 2.96% 5663.49
Mar'06 -$19,428.90 $546,920.47 -3.43% 5469.2
The reason I'm posting it is that we only use a margin to equity ratio of 30% at any time during the day and no overnight positions. You will see that during a couple of months last year if we had used 100% (but we are not that irresponsible) we could have made over 100% in a month!!! Also we have never leveraged up following our gains so our margin to equity ratios have actually fallen. As a couple of contributors to this thread may or may not realize it could be possible to 'double your money' but only if you are prepared to risk the bank....no self respecting trader/manager should or would ever trade that way.
Peace & Profit
Month P&L US $ $100,000.00 % Performance VAMI
Jan'05 $19,632.70 $119,632.70 19.63% 1196.33
Feb'05 $4,077.07 $123,709.77 3.41% 1237.1
Mar'05 $70,049.98 $193,759.75 56.62% 1937.6
Apr'05 $1,644.79 $195,404.54 0.85% 1954.05
May'05 -$16,454.62 $178,949.92 -8.42% 1789.5
Jun'05 $68,238.28 $247,188.20 38.13% 2471.88
Jul'05 -$7,167.99 $240,020.21 -2.90% 2400.2
Aug'05 $46,521.06 $286,541.26 19.38% 2865.41
Sep'05 $18,230.18 $304,771.44 6.36% 3047.71
Oct'05 $37,066.52 $341,837.96 12.16% 3418.38
Nov'05 $86,359.97 $428,197.94 25.26% 4281.98
Dec'05 $60,137.18 $488,335.12 14.04% 4883.35
Jan'06 $61,730.54 $550,065.65 12.64% 5500.66
Feb'06 $16,283.72 $566,349.37 2.96% 5663.49
Mar'06 -$19,428.90 $546,920.47 -3.43% 5469.2
I agree it would be difficult to do any of that. I don't believe one can arbitrarily state everyone has the same dismal probability. If someone trained for years at golf, starting from a very young age, s/he would be able to *Individually* assess if they can beat Tiger. The same with the daytona; otherwise no one would race. Granted, these people are talented and work very hard to achieve their goals, but why is it so unbelievable for someone to do the same in forex? No one's saying that just anyone could do it. No one's saying we all have the same probability of doing so, each of us is an individual.
Maybe I just haven't yet acquired the persistent negativity inherent to many ET posters because of my past boring history in stocks which is trumped in FX. It's quite different from sites with aspiring musicians (or whatever) who hope for good luck for one another. If I had a consistently profitable strategy, I wouldn't start one of these threads proposing to show a growing account -- but that's just me
Quote from nazsmith:
I agree it would be difficult to do any of that. I don't believe one can arbitrarily state everyone has the same dismal probability. If someone trained for years at golf, starting from a very young age, s/he would be able to *Individually* assess if they can beat Tiger. The same with the daytona; otherwise no one would race. Granted, these people are talented and work very hard to achieve their goals, but why is it so unbelievable for someone to do the same in forex? No one's saying that just anyone could do it. No one's saying we all have the same probability of doing so, each of us is an individual.
Maybe I just haven't yet acquired the persistent negativity inherent to many ET posters because of my past boring history in stocks which is trumped in FX. It's quite different from sites with aspiring musicians (or whatever) who hope for good luck for one another. If I had a consistently profitable strategy, I wouldn't start one of these threads proposing to show a growing account -- but that's just me
its the same for all of the snakeoil peddlers and the supplement infomercials and the male enhancement informercials and tv preachers. they know how to plant that little seed in the back of your mind that says "just maybe this is true". human emotions being what they are it seems to work.
I really don't see how that post is relevant to what I've said. Since you're quoting me, could you explain how a supplement infomercial applies to someone working hard and dedicating themselves to achieve a goal? I'm not talking about supplements, snake oil, or religion. I'm talking about not making the mistake to lump everyone as a probable failure. So far I don't see how snake oil enters the picture.
Besides, some supplements do work: creatine, glutamine, whey, etc. Just because many advertisements lack veracity, doesn't mean they all do. So even that argument is moot.
Forgive me if I'm incorrect in assuming that you were trying to address my statements, because you may have hit the "quote" button for the wrong person. I apologize if this is the case.
if you cant see the similarities between the forex industry and the snake oil industry i guess they have succeeded.
When did I deny that? So the point of your post was to simply compare the whole forex industry to the snake oil industry? I thought it was somehow addressing my statements, which you still haven't done. And if I assumed incorrectly, I apologize as I did before. If I knew the purpose was to show your skill at comparing two random items, I wouldn't have bothered to reply. If a poster wants to compare the forex industry to pokemon, milky way bars, tricycles or vitamin e lotion, s/he can. I only replied because I thought you intended to address my original statements. Unless you do so, I'll assume you concede to end this.
I can't follow your method of thinking and believe you're stating that succeeding in forex is analogous to snake oil. The comparison of beating Tiger Woods to FX makes more sense (and this is from another poster).
Some other time and place, I would love to dismantle your juxtaposition of the supplement industry and "snake oil" or religion.
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