Anonymous
That day i chit chat with friend, and told him that based on my knowledge , investment of 10% return annually is very impressive already. normally I target for 4-6% i happy already. Then he told me he give a broker? 1000usd to play forex. and every month he get back 200-300usd, which mean 240% to 360% return a year.. i dont really believe. im sure he is not trapping me, as we only chitchatting. Is it possible actually? lets not talk abt legal or not
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Tan Yu Ji
12 Aug 2020
Economics at Nanyang Technological University
Forex trading is a completely different skillset from investing! Anyway, if you are trading stocks, there are also stock traders who earn alot everyday from trading stocks. However, if you are a trader no matter Forex or Stocks, it takes up a lot of time. Your friend said that he paid a broker to do it for him, and gets 200-300usd back. How long has it been doing it for?
There is no such thing in the world as free money. Even investments takes time..
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Technically, it is possible. Realistically, it is improbable to consistently get 20% ROI every month...
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In his book "Attacking Currency Trends", Greg Michalowski estimated that in one month, 68% of retail currency traders lose money. The next 32% of traders could be divided into four groups: -
(1) 13.5% make 1 to 3%
(2) 13.5% make 3 to 6%
(3) 2.5% make 6 to 10%
(4) 2.5% make more than 10%
It would not be easy to be consistently profitable but the result should be alright if one could avoid incurring big losses in the other months.