This is always a “tricky one”as a lot of people foolishly come into forex believing that they can get rich quick.
They think that they can put a $1000 in an account, double their money in days and they will be able to quit their job in a few months time.
If you are one of those people, the painful truth is its not going to happen!
You need realistic expectations. You need to think of this as a profession which takes time effort and skill to master.
However, if you can trade profitably for 6 months and most importantly control the draw-down then there are opportunities for you to trade for our clients and receive a substantial commission (up to 35%).
If you trade a big account and receive a profit share, then 3 to 5% a month is very acceptable for an investor. For every $1million you trade the client receives $30.000 to $50.000 profit and you get a share of at least $10k per million traded THAT is the way to make big money trading.
However, 3% to 5% per month (which is our target for conservative clients) doesn’t sound very sexy and for the “get rich quick idiots” means you are a rubbish trader. But the banks in most of the world are paying less than that a year and hedge fund returns have been terrible in the last few years.
Here are the results for the Hedge Fund Industry for the first 6 months in 2018:*
“Overall industry returns were just slightly negative at -0.51% in June, while 2Q 2018 returns were positive at +0.37% and YTD 2018 returns stand at +0.16%” From those returns (0.16% the client is usually paying a management fee of at least 1% per month!
Here is the screenshot of our results on a test account for our “Mam” account from January until 30th October *
The results are actually better than 5% per month, but we were too aggressive earlier in the year and the drawdown was higher than we liked at 19.5% so we now trade more conservatively
*The reason we use a demo account for our proof of forex trading performance is that our live account balance is no one’s business but ours! Also as people add or withdraw money from the account and we take our commission the figures become horribly distorted.
As we are not scalpers the results are not very different when trading a live account.
Standard disclaimers apply*
Having said all that we are highly experienced professional forex traders who trade the Forex markets for a living and trade with REAL money.
We only charge a commission on profits (“high watermark” -no management fee’s).
If we don’t make the client money any given month, we do not receive a penny, so we have a shared goal!
If you would like to know more about our proof of trading performance and what we do you can contact me here: [email protected]
Risk Disclosure Statement: Trading currencies on margin involves a high level of risk which may not be suitable for all investors. Leverage can work against you just as easily as it can work for you. Before deciding to trade currencies you should carefully consider your trading and financial objectives, level of experience, and appetite for risk. The possibility exists that you could sustain a loss of some, or possibly all of your trading capital. Therefore, you should not fund a trading account with money that you cannot afford to lose. It is recommended that you seek advice from an accredited financial advisor if you have any doubts as to whether currency trading is right for you. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. Any losses incurred by traders unsuccessful in applying these ideas or methods are the sole responsibility of the trader and ForexMentorPro.com and its principals, contractors and assigns will be held safe from prosecution in any form.