LOL don't listen to that 60% a month idiot. Anyone with that capability would be the richest person on Earth. He's probably an ACM employee.
I think the 2 posts after yours covered it, thanks. I, and many others, take on some of the people who make ridiculous claims. For one thing, their fabrications give newbies dangerous ideas, when what they really seek is help and advice, rather than puffery. It is hard enough to make any money, without people telling others "I make 50-60% a MONTH." Yeah, right
Lets say that you have 7500 dollar in your forex account, and use 50:1 leverage. You only make 5-6 trades each day, where take profit is 5pips and stop loss 5 pips and you use oanda who has 1.2 spread on eurusd. so each winner is 3.8 and loser 5 pips loss. And u trade 2.5 lots each time. So you can only lose 25*5= 100 dollar on each trade/lose only 1.3% of your investment. lets say you make 8 pips each day using such a system, that equals 8*25= 200 dollar. in one month that becomes 200*20=4000 which is a monthly return of 51% or a yearly return of 612%
and honestly, it isnt that hard to time your trade right to get 8 pips each day. If u win 3 times and lose 1 time, u will have 6.4pips. In other words a system with 75% chance of winning with the given premises above will generate about 630% a year. The only reason why the return is so insane is because u trade intraday and can make several trades in a short period of time, and on top of that, use very high leverage,but still with little risk.
Given the huge size of the forex markets, if 600% annual returns were not that hard, then why aren't the hedge funds and investment banks doing this, and ignoring everything else? They certainly have the resources. What looks simple on paper is not so, in the real world.
Forex is a sure way to blow your account with the advertised no commissions/200:1 margin. We all know how this story ends. It is better to just trade the currency futures through a globex platform.
Here is a picture of my profit/loss report for a random picked day: http://img142.imageshack.us/my.php?image=ddhn9.jpg
Rcfaniel: I dont know what the banks are doing, if they are intra day trading or swing trading. But goldman sachs paid aproximately 16 billion dollar in bonuses to employers last year.that would be about 644 000 dollar for each employer(they have about 30500 employers) Im raping the market as well. I made about 13 trades here in one day , all winners:http://img142.imageshack.us/my.php?image=ddhn9.jpg I used forex.com there, and they have about 3 pips spreads on eurusd, eating up all my profits. Now im trading with oanda and im doing a lot better now since the spread is only 1.2, resulting in more trade oppurtunities,less risk, and more profit. I make about 15-30 pips each day scalping the market as shown in my profit/loss report.