Another good trade this morning. :clap:
Account 1: +1 pip
Account 2: +1 pip
The grand total this week.
+77 pips
+23.4%
On a side note, I won't be giving percent details on account 1 because of the frequent balance change due to clients funds transferring to and from the account. Both accounts get about the same in pips per week therefore the stats I post will be from account 2.
I am off to a great start this month. Last July rendered over 100% gain so we will see if this July does something similar.
You're just trading the Forex Morning Trade idea right?
If you can generate $2,000,000 with this system why not just lease it to hedge funds or whoever and chill on the resultant proceeds (e.g. 10% of profits generated by it+tasty up front fee)? If it is good enough to generate the kind of returns you speak of, or anything close to them, then surely people will pay very good money to get that edge?
If you can get steady, consistent and non-luck dependent returns of 50% a year even, then why not try to get access to serious capital (i.e. join a hedge fund or bank)? If they really think you can get 50% a year I'm sure they'll give you all the money you want and a fat cut of the resultant profits. Is it just that market dynamics change when you get above a certain level, i.e. those small trades, small openings and so on are no longer feasible?
Anyway, whatever happens, good luck.
You know, I never thought about that and not sure where I would begin. If you or anyone else could steer me to some information about that, that would be great. I'm googling now.
tkbieber said:50% a year?, huh, 10% a month is so doable and crazy easy. Compounded, that would triple anyone's account in a year.
tkbieber said:Thanks for the advise. Something to think about.
Unfortunately I can't give you many hints in terms of getting into hedge funds etc I am going to be trying myself in a few years, hopefully.
I suppose the only thing you can do, if you have no formal background in economics/investing, is send a copy of your trade history to them, along with the details of people who can verify that it is real. If you really can do 10% a month consistently i.e. irrespective of market direction, and without extreme leverage, then I can't see why they would turn you away. In the end they care about the bottom line and not much else.
Returns get progressively more difficult to generate as you start handling large sums of money though, Warren Buffett openly stated that he could guarantee to do 50% a year with $1 million. The opportunities that exist for someone with a relatively small amount of capital to allocate are much greater than those which exist for those with large sums of money to allocate.
10% a month consistently is insanely good, if you can do it with large sums for a long period of time you would be richer than either Soros or John Paulson.
However consistency seems to be the key, to give you a clue of just how much passive investors lust after consistent returns look no further than the Bernie Madoff case. Madoff attracted billions of dollars by offering 1% a month returns, they were predictable and didn't seem to be dependent upon market conditions (as it happened of course Madoff was a crook and was not investing the money at all). Investors at his firm were afraid to withdraw their money for fear they would not be able to get it back in with him, and that was with 1% a month; with 10% a month everyone would want their money with you.