Something tells me the bucketeers are spreading the love again. Maybe its this line: "you can make 200 times as much money than trading stocks without more risk." Or maybe its the part about needing only one grand to start. (Or maybe bwc is right and the post is sarcastic. That's the problem with sorting the shills from the punsters. There's hardly any difference between the bucketeers' ludicrous hype and dead-on hilarity.)
Can you back that up by posting your trades? Should be easy with the couple hours trading a day you do. * Enter your live trade. * Post on ET the details (EUR/USD 1.1796, sell 50k, stop/limit at ?, 17:13 EST) * Close your trade. * Post results onto ET. * ET will also time stamp your posts to make it easy for us to check. If I don't see any live trades from you in the next day or so then you are full of hot air.
I still find it amusing how people have such strong disbelief programming. Anyone can look into how Forex works and see that it is a mathematical fact that if you put $100 into a trade and the market moves 50 PIPS (Less than half of what it moves every day) you have just earned $100 or 100% return. (Not on the amount of your account but on the amount of deposit in your trade) Repeat and use 5% of your account and see what happens in 6 months, 1 year. Since this works on any calculator and most Forex accounts there is no need to prove that this is an extraordinary feat or requires special trading skill. The next question is can you consistently get 10, 20 or 50 PIPS per day average with your losses, etc? It doesn't require a special system to get 10 PIPS per day. See what happens when you calculate 10 PIPS per day using 5% of your account over a year. This is basic math. $1000 will become over a million. I have showed people this on a calculator and had them get upset with me and say, "If that were true everyone would be doing it." I could hand a bucket of money to most people and they would still not believe and it is not my job to convert people from their limited patterns of thinking. It is something people must do for themselves. I am happy with my results and wish others the same success. Never been involved with Forex Made Easy by the way. I just use simple technical analysis and know many people having the same results. In fact I don't know any one who trades Forex who cannot get 10 PIPS per day but still most people fail or give up.
Agree with Mountain Trader.The GBP/US was a real opportunity today. 4:30am 20pips, just part of a move 4:50am 30 pips, again just part of a move 8am 40pips 9:30 150pips Afternoon another 21pips. This was a field day today. Only 1 lot risked, $100 bucks. I think I'll take the rest of the day off! All on just one currency GBP/US.
MountainTrader, Since you are apparently serious, rather than facetious... hate to disappoint you / bring you down to earth, but both your (explicit and implicit) assumptions and your math are, shall we say, more than slightly off. Cheers.
Day trading, aka scalping, with bucket shops? I too know "many people having the same results" -- they're busted, bucketed out, sh*tty results! If I were you, I'd refine this shill schtick. It's not very good.
It is unfortunate that more people are not aware of how trading works. Nevertheless, I enjoy the life that trading provides me. I have never visited a "bucket shop" or scalped the forex. I am primarily position trading but also day trade using a specific method. Whether it is scalping or harvesting it is 90% accurate. If anyone is interested open a demo account and place a trade and observe what happens when the market moves 50 PIPS. It is a most interesting schtick. In a 100:1 account 50% return appears in your account in spendable cash if your account is real money. In a 200:1 account 100% return appears in your account. This phenomenon somehow happens every day for me and the people in my reality. It is unfortunate that it is not possible in certain universes. I am well aware of how much money appears in my account when I trade so I don't need any one to tell me whether it is possible but thanks for your concern. Contact the sponsor of this forum FXCM, FX Solutions, FXInterbank, or GFT and become enlightened on the fundamentals of how a forex trading account works. Then create a trading plan based on your choice of 10 PIPS per day, 25, 100 PIPS per week or what is comfortable for you. Risk 2-5% based on your stop loss and see what happens. Of course for some here you may prefer to crawl back in your hole and remain in the world of your creation.
MountainTrader. I only have 1000 USD to invest in forex and would need around 3-4K per month to make a decent living. Cost of living is expensive, and, as we all know, most jobs in the real, that is offline world suck badly. Do you have any hints on how to make 200-300% per month constantly month after month ? You write that one should decide on a system...I have tought about it for a long time and decided that I'd like to try out the "400 pips per month on a leverage of 200x"-System. If there isn't such a system, then I'd chose the 200 pip /month - leverage of 400x system"...what do you think about it ? I personally think that with the introduction of FXCM, RefcoFX and all the other forex brokers, working in the traditional sense has become obsolete. Why work from 9 to five if i can double my account with just lousy 25 pips day after day ?