FOREX teachers in the mkt boast that they can make XXX money from trading

[szehao]

Good day,

I have attended a forex course XXX previously. In that course my teacher taught me to trade with 100 times leverage.

My teacher showed results(brokers transaction slips) that my teacher had made YYY dollars with the same strategies and money mgmt plan that my teacher taught us.
However, I understand that in the long run, this cannot be a profitable strategy trading with 100x leverage, unless my teacher has damn lotsa capital lah...

Just dun understand how my teacher can even make YYY dollars, my teacher so heng meh? heng = lucky
Unless my teacher is downright lying about the money mgmt strategy.
Anyway this teacher has been featured in local newspaper b4 ...

:) Sihao

[Winston]

well... my thoughts on it... heheh... ur class mostly know what i think about the 100x already....

in particular, this trainer.. the few in the market that has been in the papers.. i don't think they would lie...

however, everything is numerical statistics...

like for example i say...

make 200% profit on your trading.

versus

we only take a 1:2 risk reward ratio


- same thing.. just more exciting with the first line ....


=============

1 possibilty... and many newbie traders use this without realising....

They will blow up $1,000, then from their bank pull out another $1,000 if it fails.. and so on and on and on...

To them is .. its okay.. i can take 100x.. so even if i lose.. i can just whip out more money...

well, in that "sense", its okay... but there will be a point they reach where they have no more money left to whip out... and yet... they don't know how to trade in any other way.. except the reckless way....

the better way to learn is to commit your full capital, and nurture and grow these babies... into something big strong and stable...


=======


so, that's my bit ;)

[szehao]

That's my sentiments too ... that's why i join FFR!

:) Sihao
PS: Lucky i havn't whipped out that much 1000 dollars yet ...



well... my thoughts on it... heheh... ur class mostly know what i think about the 100x already....

in particular, this trainer.. the few in the market that has been in the papers.. i don't think they would lie...

however, everything is numerical statistics...

like for example i say...

make 200% profit on your trading.

versus

we only take a 1:2 risk reward ratio


- same thing.. just more exciting with the first line ....


=============

1 possibilty... and many newbie traders use this without realising....

They will blow up $1,000, then from their bank pull out another $1,000 if it fails.. and so on and on and on...

To them is .. its okay.. i can take 100x.. so even if i lose.. i can just whip out more money...

well, in that "sense", its okay... but there will be a point they reach where they have no more money left to whip out... and yet... they don't know how to trade in any other way.. except the reckless way....

the better way to learn is to commit your full capital, and nurture and grow these babies... into something big strong and stable...


=======


so, that's my bit ;)

[Winston]

honestly.. i'm quite disturbed that there are people teaching 100x leverage.... Got this super article from Forex Factory.. i'm not sure if I can find the actual link again, it is in your notes.... *when u get the full set* ..hahah

will try to hunt for that link.. its a really good essay... on how forex is really an easy market.. but people spoil it by over-leveraging... thinking that drawdown days will never happen...


gravity still works...