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, leave now. 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.
If you can trade profitably for 6 months and most importantly control the drawdown then there are opportunities for you to trade for other people.
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 month per million traded THAT is the way to make big money trading.
Here is an example of a well run account in the real world (NOT the ponzi schemes that are currently in fashion on the forex world)! This is one of our members, Danielle, who is now eligible to advance to a real money, live account. She now has the opportunity to make a substantial income simply by trading a larger account.
Check out the video to see why this is realistic and how you can copy her performance. Also, some tips and tricks to look out for from unscrupulous marketers who show fake results:
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 2018 until 30th October 2018*
This was an aggressive account whose drawdown looks worse than it was (t was open trades as mentioned in the video):
The results are actually better than 5% per month, but we were too aggressive 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, with over 70 years combined trading experience who trade the ForexX 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 what we do. How we can help YOU become a professional trader and the benefits that can bring, find out more here: www.forexmentorpro.com
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