Forex - is averaging 30% - 60% in ROI for over 14 yrs, what are chances?

is it possible to trade and get 30%-60% ROI consistently for over 14 years likely in forex? the reason i ask is my friend knows someone in who used to trade for the banks but he now trades for forex and supposedly he can avg 30-60% ROI annually and has done so for 14 years alrdy, and he is promoting this program where if you invest with him he will give out 1% every week..is this likely a scam? he claims to have seen all the past trading records and says it is legit..what are chances someone can actually get this high average returns??

While it is certainly possible to make these types of ROI, it isn't likely. The Forex Market is highly volatile, which can offer tremendous rewards for assuming tremendous risk.

Without knowing the details of the specific program he is promoting, it is hard to address it specifically, but I do wonder why someone who can make those types of returns is running a program that offers weekly distributions. Seems like a tremendous amount of work. Also, given the nature of trading, a weekly disbursement seems unwise on the part of the trader.

If you are seriously considering investing, besides understanding why he is offering the opportunity, it is important to understand how your funds will be handled. Will they be pooled into an account in his name (which you will not likely be able to access or view)? Or will you be opening an account with the Forex company in your name and signing a limited power of attorney which allows him to only execute trades? I am guessing he is pooling the funds, which allows him to shield it from your scrutiny. Basically, are you loaning him money with an agreed return or are you giving him the right to manage money on your behalf, which should allow you full access to your funds?

Also, are you giving him your money for a specific amount of time? What if you need to have your funds returned on short notice?

My personal belief is that any trader who understands the Forex market respects the market and would never publicize claims of returns that high. Be certain that all the positive upsell he offers when he pitches you is included in writing within the documents you sign prior to handing over your hard earned cash.

The Forex market is largely unregulated, but you can visit http://www.nasaa.org/Investor_Education/... to learn more about fraud in the market.

You can also visit http://www.nondealingdesk.com/ and http://www.babypips.com/ to learn about Forex from other traders.

Good Luck!




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not too good,,,,,,,,,,,,,,

Hi Frosty, it's look not too good, but you know there are high gain in forex trading but also following by high risk, so what your friend said is possible, just tell your friend to show the proof, are the profit real and consistent ?

Hi there just send me a mail to jaques606@yahoo.com, with "Forex", in the subject line, and i'll send you info regarding this matter.

Will reply asap.

Yes, it is possible to generate such returns in the Forex market.....if one is familiar with market risks, money management and appropriate Forex investment strategies.

Paul

I have been daytrading since 1997. Some of the best money managers i know can make more than 1% return trading forex each week.

Again, before you give your money to someone else to manage, beware. I also allow other people to manage my money. This helps to diversify my exposure to risk in this business. What i do is i give the person the minimum amount to trade with. I do not look at how much return he or she will generate in x period of time. What I look for is how they are able to stick with their trading methods, ,and how they manage risk.

Contrary to what other people will tell you, it is easy to make money in this business. It is more difficult to keep these gains in the long term.