5% average monthly profit for at least 2 years (with less than 25% max. DD)

By the way FMG the 25% DD is high and no one achieves financial freedom with those kinds of risks unless you are playing i.e gambling on horses or lotteries etc, so the standards you have set were reasonably low with that kind of DD to achieve 5% p.m.
This alone paints a clear picture that:
1) No matter what the DD is 5% is extremely difficult and in almost all cases not possible
2) To produce such returns over a sustainable period well that puts the icing on the cake here judging by the results.

conclusion: at least 98% of your investments shouldn't be in something leveraged so high and not to expect huge returns annually.
Is it possible to make a lot of money trading forex? Yes like all gamblers you will get lucky sometimes but that is rare so if you had a lucky streak then that's all it ever was a lucky streak since you cannot reproduce the results over a sustainable period and I mean a sustainable period being well over 5 or more years since you attempting to attain financial freedom FMG

Think about this... do you know any of the richest persons in the world making their fortunes trading forex? (not stocks etc but forex)

I agree with most what you had mentioned.

Yes, -25% max. DD is too high for larger investments, but it was a minimum requirement. I just did not want to be 'too strict' with the DD conditions. Since most Forex traders are overleveraged (which is OK with smaller funds) I was anticipating to scale down the risk to be suitbale for larger inverstments.

For example: If some could have come up with a strategy showing 6% average monthly profit (for at least two years) with -20% max. DD, then this strategy could have been scaled down to 1.5% monthly profit with -5% max. drawdown. With profit reinvestments this strategy could produce about 20% yearly profit with max. 5% DD. Not that bad even for larger investments.

6% monthly profit with max. -20% DD also translates to 3.5 months recovery time. Definitely not optimal, but if one is 'lucky' enough not to encounter the max. DD within the first 3.5 months, then after 3.5 months only the profits are risked. With solid anticipation of 72% yearly profits I could live with the potential risk of a 20% loss (or 36% yearly profit with the risk of losing 10% of my investment).

But again, the stated conditions were MINIMAL REQUIREMENTS (while hoping for better results).

SO THE FACTS: As of today no 'mainstream broker verified'(!) and NON-GRID strategy has shown up on MyFxBook fulfilling even these minimal requirement. Even the most successful and most popular strategies on MyFxBook AutoTrade or on ConnectForex.com do not fulfill these obviously not optimal MINIMUM performance requirements.

Conclusions? Everybody should make his/her own conclusions based on the facts...

> Think about this... do you know any of the richest persons in the world making their fortunes trading forex? (not stocks etc but forex)

soros ;)

meant to quote

forexpipcatchar posted:
Think about this... do you know any of the richest persons in the world making their fortunes trading forex? (not stocks etc but forex)

forexpipcatchar posted:
...
conclusion: at least 98% of your investments shouldn't be in something leveraged so high and not to expect huge returns annually.
...
Is it possible to make a lot of money trading forex? Yes like all gamblers
...
(not stocks etc but forex)

you can't make any real money in stocks unless you've already got money. on the other hand, it's not beyond possibility to turn $1K fx account into $100K. easy? no. possible? yes.

uiop posted:

forexpipcatchar posted:
...
conclusion: at least 98% of your investments shouldn't be in something leveraged so high and not to expect huge returns annually.
...
Is it possible to make a lot of money trading forex? Yes like all gamblers
...
(not stocks etc but forex)

you can't make any real money in stocks unless you've already got money. on the other hand, it's not beyond possibility to turn $1K fx account into $100K. easy? no. possible? yes.

I agree it's all speculation but even the ones that did/do got lucky and can't repeat the performance not to the extent that it becomes an annual salary. So once again to turn $1k to $100k can be done BUT read what I have stated its a gamble that has paid off and can't be repeated sufficiently to make a living out of it.

damn forex is so hard for me 😭😭😭

can any one share 2 years portfolio in myfxbook ???

It is possible to make 5% a month with 20%max drawdown. Not that difficult if you are an experienced manual trader. The key is trading small and having many trade opportunities so the account balance is not affected too much by any one individual trade. Trading small also means it's easier to take losses when you are wrong and therefore you close losers quickly

shaf356 posted:
It is possible to make 5% a month with 20%max drawdown. Not that difficult if you are an experienced manual trader. The key is trading small and having many trade opportunities so the account balance is not affected too much by any one individual trade. Trading small also means it's easier to take losses when you are wrong and therefore you close losers quickly

It's so possible that in 2 years you are not able to show this right? Wake the other half of your brains up please!
Speculation speculation...

This thread gone on already for 25+ pages and nothing even remotely close to the title? LOL I have lost a lot of respect for myfxbook over past couple months, but due to it being the best there currently is I have nothing else.

shaf356 posted:
It is possible to make 5% a month with 20%max drawdown. Not that difficult if you are an experienced manual trader. The key is trading small and having many trade opportunities so the account balance is not affected too much by any one individual trade. Trading small also means it's easier to take losses when you are wrong and therefore you close losers quickly

@shaf356

I seriously doubt that it is 'not that difficult' as I am still about to see the very first one non-grid strategy run at a 'respected broker'. Two years is a long time to keep DD below 20% and raking in average 5% monthly profit.

But again, if it were 'not that difficult', please give us a link to the performance page of at least ONE such strategy.

FXtrader2010 posted:
This thread gone on already for 25+ pages and nothing even remotely close to the title? LOL I have lost a lot of respect for myfxbook over past couple months, but due to it being the best there currently is I have nothing else.

Exactly. The fact you mentioned shows the statistical chances of 'Average Joe Trader' making a living by trading Forex.

The question posed by this thread is flawed in many ways... if there were someone out there who is achieving 5% per month for 2 plus years... (which I believe there probably is)...

first... why would they bother posting their results/system on this thread or on myfxbook... aside from the need to gloat about their success. If I had such a system, I'm pretty sure I wouldn't be posting 'out there' for the masses.

Second, most people on here are still 'in search' of the ideal system/edge for their own trading, and someone with those types of results obviously isn't 'in search' of this. I suspect they aren't even on, or even close to being on myfxbook forums...

barebudben posted:
The question posed by this thread is flawed in many ways... if there were someone out there who is achieving 5% per month for 2 plus years... (which I believe there probably is)...

first... why would they bother posting their results/system on this thread or on myfxbook... aside from the need to gloat about their success. If I had such a system, I'm pretty sure I wouldn't be posting 'out there' for the masses.

Second, most people on here are still 'in search' of the ideal system/edge for their own trading, and someone with those types of results obviously isn't 'in search' of this. I suspect they aren't even on, or even close to being on myfxbook forums...

I already mentioned what your are trying to say here but wasting time and energy here implies you have no success.
Also just one thing to add to your non sense your lack of business acumen leads you to make the second conclusion BUT in fact if you are able to achieve these results required by the thread you would be advertising your system and making a fortune. I estimate your worth 5 cents.

Guys,
It is definitely possible to get 5%/mo, with 25% max DD, lasting for at least 2 years.
It is not possible though for average Joe:-)

togr posted:
Guys,
It is definitely possible to get 5%/mo, with 25% max DD, lasting for at least 2 years.
It is not possible though for average Joe:-)

Then please provide proof that you are doing it in the form of withdrawals from YOUR trading and that you are making a living out of trading for yourself ... this will be interesting :D :D
After all this is what this thread is asking

It would be interesting to see real results. To be honest, it is hard to keep consistent profits.

Everbody has a piece of truth here. I think we can conclude that:

1. 'Average Joe/Jane Trader' has very slim chances of making a stable living via Forex trading. And we are still NOT talking about becoming rich by Forex trading.

2. A successful 'Average Joe/Jane Trader' (who is also a 'publishing' member of MyFxBook) could be easily spotted on MyFxBook and probably he/she would be actively recruiting clients to boost his/her own funds.

3. A successful 'PRO Joe/Jane Trader' probably would not care about posting on MyFxBook.
__________________________________________________________________________

The purpose of this thread was/is to spot a successful 'Average Joe/Jane Trader' with a relatively safe, stable, long-term profitable and NON-GRID strategy which could - theoretically - provide a passive income and therefore financial freedom.

So far there has been NO such strategy spotted on MyFxBook. (At least none with a live account running at a mainstream, i.e. reputable broker). I could not even spot one - fulfilling all criteria - among the most successful MyFxBook AutoTrade or ConnectForex strategies...