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Is what's happening in the contest even remotely possible?
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OnTheEdge

Biedrs kopš Mar 20, 2011  43 ieraksti OnTheEdge Feb 25 2012 at 11:48
I agree, 3000% month after month is not sustainable, I thought I pointed that out?

Let's be honest about the 1000 percent gain month after month scenario, if there was someone who could do that, they would have their own broker and would not be using any retail platform available. wink

Bill Lipschutz, although he would not provide any numbers, according to the author;

 'it has been estimated that his trading alone accounted for an excess of one-half billion dollars in profits for Salomon
Brothers over his eight-year stay with the firm.'

'Lipschutz was significantly profitable in his very first year of trading these markets and extraordinarily
profitable over the next seven years.'

Lipshutz, trades his own money today.

I thought I'd point out that Bill Lipshutz trades only currencies.

I total agree that traders get caught up in how much money they lost in the trade even when it's profitable....If I had just bought 4 lots instead of 2 I would have twice as much...I am guilty of this as well.

Consistency comes from doing exactly the same thing over and over, regardless if we got some that morning, our dog died, the roof fell in, or if we have lost 5 trades in a row...and for all those reasons it's why 3000% gains month after month are not sustainable.

tehvoid

Biedrs kopš Oct 06, 2010  2 ieraksti tehvoid Feb 27 2012 at 22:23 (labots Feb 27 2012 at 22:24 )
A lot of you guys are missing the point of the original question. I wasn't really shooting for, 'What's the probability of guessing the right trades to pull in > 3000% in 3 weeks'.

I was more curious about the after effects of actually doing that. So now you're 50K account is worth almost a Million, would the average forex broker not allow you to withdraw that? Maybe they'd just 'mysteriously go offline, with your money'

Or, would you even be able to close on the trades to make you that 1 million in the first place.

Splexin seemed to get the closest with:


   Splexin posted:

...

If you start trading 10-20 lots at ANY broker you will encounter major slippage and off-quotes that will make it extremely difficult to repeat what people have been doing on demo. I have heard from individuals at firms that trading 50 lots can even take several minutes to fill or close.

...


I find that interesting and something you don't really hear much talked about. So I'm not really shootin for what makes a good trader, I'm more interested in how well these FX brokers are run, and how much corruption actually goes on.

DrVodka

Biedrs kopš Dec 16, 2011  292 ieraksti DrVodka Feb 27 2012 at 23:11
noncense . 1000-2000 % is very posible but its not sustaineble for a long piriod of time.. as some one said before one guy made 12milllons from 1800 $ and good broker is not a problem ither i think its pleanty of good trusted brokers around ...

all u need is good size deposit ( 50 k ) ...

tylerbose

Biedrs kopš Oct 18, 2011  39 ieraksti tyler (tylerbose) Mar 01 2012 at 19:38
in theory everything is possible in forex , i'v seen EAs turning 10k into 1mil in one day , but in reality 3000% in one month is impossible you would have to take very high risk and in the long run you will lose everything , 100% a month can be done (if you're a very good trader )

tylerbose

Biedrs kopš Oct 18, 2011  39 ieraksti tyler (tylerbose) Mar 01 2012 at 19:40

   DrVodka posted:
   noncense . 1000-2000 % is very posible but its not sustaineble for a long piriod of time.. as some one said before one guy made 12milllons from 1800 $ and good broker is not a problem ither i think its pleanty of good trusted brokers around ...

all u need is good size deposit ( 50 k ) ...


who's that guy you're talkin' about ? slim

Splexin

Biedrs kopš Apr 11, 2011  202 ieraksti Splexin Mar 01 2012 at 19:48

   tylerbose posted:
   
   DrVodka posted:
   noncense . 1000-2000 % is very posible but its not sustaineble for a long piriod of time.. as some one said before one guy made 12milllons from 1800 $ and good broker is not a problem ither i think its pleanty of good trusted brokers around ...

all u need is good size deposit ( 50 k ) ...


who's that guy you're talkin' about ? slim


This guy in Asia, you should see the trading room in his apartment, monitors cover the wall.......

I don't remember his name but it took EIGHT YEARS to trade into the millions......

tylerbose

Biedrs kopš Oct 18, 2011  39 ieraksti tyler (tylerbose) Mar 01 2012 at 20:01

   Splexin posted:
   
   tylerbose posted:
   
   DrVodka posted:
   noncense . 1000-2000 % is very posible but its not sustaineble for a long piriod of time.. as some one said before one guy made 12milllons from 1800 $ and good broker is not a problem ither i think its pleanty of good trusted brokers around ...

all u need is good size deposit ( 50 k ) ...


who's that guy you're talkin' about ? slim


This guy in Asia, you should see the trading room in his apartment, monitors cover the wall.......

I don't remember his name but it took EIGHT YEARS to trade into the millions......


1 mil in 8 years =/= 3000% a month , you can't compare a guy who made 30 times his deposit in 20 days to a guy who actually worked his ass off for 8 years !

Splexin

Biedrs kopš Apr 11, 2011  202 ieraksti Splexin Mar 01 2012 at 20:39 (labots Mar 01 2012 at 20:39 )

   tylerbose posted:
1 mil in 8 years =/= 3000% a month , you can't compare a guy who made 30 times his deposit in 20 days to a guy who actually worked his ass off for 8 years !


You're preaching to the choir on that one, bro lol

tylerbose

Biedrs kopš Oct 18, 2011  39 ieraksti tyler (tylerbose) Mar 01 2012 at 20:45

   Splexin posted:
   
   tylerbose posted:
1 mil in 8 years =/= 3000% a month , you can't compare a guy who made 30 times his deposit in 20 days to a guy who actually worked his ass off for 8 years !


You're preaching to the choir on that one, bro lol


to resume my opinion , 3000% in 20 days is not trading it's gambling neutral, in my opinion the best of the best trader doesn't make more than 100% a month cool

sim3j

Biedrs kopš May 01, 2011  56 ieraksti sim3j Mar 01 2012 at 21:27
Even 150-200% a month is very possible with good knowledge and a good pair smiley.

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