Ok, enough thread trashing. I came here hoping to engage in debate and chat with people who take fx trading seriously, and have ended up embroiled in retorts to complete idiots (by my own choice, admittedly). Some of your responses say more about you than you could have written in words. Looking at the responses to someone who claims he's a fund manager - well you're not really qualified to be asking interrogation questions, that much is clear. The sad fact is, it's obvious very few here are serious about their trading. They'd much prefer a good session of bitching and chest beating. Your loss, not mine. I'm off, you can have your house back now. It has a funny smell to it! A dead fish behind the sofa? Thx to lucrum and SL321 - whether a fund manager or not.
Jeez man, don't leave on account of the idiots. If we all did that, idiots are all that would be left here.
if I hang around too long, it really would turn into a warzone?! What I do find interesting, is the obsession about retail using large leverage. No-one's mentioned the concept of starting with small leverage, and by only adding to winners, actually end up using bigger leverage - with no increase to your initial risk. Recent yen trend has been fantastic for that kind of strategy. It does assume a traders ability to 'foresee' large moves though, and requires risking open profits. And stacks of patience, like our fund manager friend.
Well it depends really, let's say this year, on a very very good year like this, I can expect to average 30-40% ROI with 1x leverage (this is an exceptionally good year, normally returns would be somewhere in the ballpark of 10-15% yearly). So with 50 k I could close the year with 20 k profits (that's good money that would allow for a decent living given you're not living in NYC). Now some investors like a little more risk, these investors have no problem risking some 10-15% of their capital for 40-50% ROI a year, I believe that If I had only 50 k to trade with I would opt for this program (about 2x-2.5x leverage), and on a very good year like this, I believe that with this program I would make 100 % ROI (50k) and for a person who's single, 50k a year is a good amount of money, I would even dare to say that you can afford to live lavishly with this kind of money in some US states. To sum it up ill give you some numbers to chew on, Had you invested 100 k 10 years ago with a good investor who is averaging 15-20% ROI a year, you would right now have 600 k, how's that for a return ? And let's say you'd invested 100k 10 years ago in a leveraged fund like the program I told you about earlier, one averaging 40-50% yearly, you would be sitting on 4.2 million dollars now wouldn't you rather play it safe and aim for normal yearly return (have an investor's mentality), or would you rather gamble away your 100k exposing yourself to the market volatility and possibly blowing your entire account in the process ? Never underestimate the power of compounding, I just showed you how steady non leveraged profits can pile up to an eventual bundle.
Step 1: Find Market Wizard fund that will make consistently 40%-50% yearly for a decade. Geez, why didn't I think of that?
A truth about forex is that it is a risky business people think it easy to manage their amount but they are mostly fail to protect their amount . They use it without any planning and strategy that is why forex is not making money for them.
There is nothing to laugh at traders who just trade 1-2 currency pairs, because i have seen traders who just trade in one single currency and are leading king size life.