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Forex Trading for Earlier Retirement

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Hello,

I was wondering if I could have an opinion on this. I recently came across Learn to Trade (learntotrade.co.uk).

I was looking at some charts they showed in their sales pitch and I was a bit taken aback from some of the numbers they showed.

For example, they showed they almost a 60% return by incurring only 2% risk in each trade in the last year. I don't have all the details, but this feels a little disproportionate. They claim that statistic was "approved" by Wellers – I don't really understand Forex Exchange, but that's supposed to show that it is a real statistic as far as I understand. I always associate high risk with high returns. The other thing that gets me about that chart is that they only show you one year, which feels very short and raises alarm bells for sustainability.

Then they go on showing you that with a 5% monthly return, if you start off with 10k, in the space of about 3/4 years you can stop working. 5% MONTHLY return? Again how is that sustainable?

I wanted to learn Forex Trading but I have to wonder if spending 2k on their course and software is worth it or if they are overselling themselves. Thoughts?
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  • msallen
    msallen Posts: 1,494 Forumite
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    If you really had the secret to returns like that would you ...

    A - keep it to yourself, keep milking it, and retire richer than Warren Buffet.
    B - Sell to any Tom !!!! or Harry for a couple of grand
  • Gadfium
    Gadfium Posts: 763 Forumite
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    Its a scam.
    If there was that much money to be made in FOREX trading then why are these guys selling training courses instead of relaxing in their Barbados villas?
  • msallen
    msallen Posts: 1,494 Forumite
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    msallen wrote: »
    If you really had the secret to returns like that would you ...

    A - keep it to yourself, keep milking it, and retire richer than Warren Buffet.
    B - Sell to any Tom !!!! or Harry for a couple of grand

    Oh alright then - Richard :D
  • Ray_Singh-Blue
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    Forex trading for later retirement
  • EdGasket
    EdGasket Posts: 3,503 Forumite
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    Forex = zero sum game (a winner for every loser) apart from all the charges and fees which makes the forex platform a definite winner.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Autocorrect messed up your title.

    "Ruination" is spelled as I've put it there, not r e t i r e m e n t as it obviously changed it to.
  • Pincher
    Pincher Posts: 6,552 Forumite
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    Buy low, and sell high.

    If the average is 1:1.24, buy when it's 1:1.23, and sell when it's 1:1.25. Easy. :D
  • Malthusian
    Malthusian Posts: 10,980 Forumite
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    Forex trading for early retirement in 6 easy steps:

    1. Put your retirement savings into forex.
    2. Lose half your money. Gamble even harder with the other half - surely your luck will turn soon, and when it does you'll recover your losses and then quit.
    3. Repeat steps 1-2 until you've lost every penny.
    4. Max out your credit cards and mortgage for one last go at step 1 - your luck's sure to turn this time and then you'll pay off the debt, you'll have the money back and your wife need never know. Just like in the movies.
    5. Lose your home, your family and your job from stress and guilt over how you had a comfortable life and blew it. Salve the pain with drink and drugs.
    6. Since you're now addled by mental breakdown and drug addiction, will never work again and will spend the rest of your life dependent on the state --- you have in a way retired early.
    Trinityx wrote: »
    I wanted to learn Forex Trading but I have to wonder if spending 2k on their course and software is worth it or if they are overselling themselves.

    Forex Trading is gambling and will destroy any retirement savings you put into it. You've now learned all you need to know.
  • TCA
    TCA Posts: 1,530 Forumite
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    Trinityx wrote: »
    Then they go on showing you that with a 5% monthly return, if you start off with 10k, in the space of about 3/4 years you can stop working. 5% MONTHLY return? Again how is that sustainable?

    Forex is a very difficult game. I don't know if this crowd are selling a magical money making system, because there isn't one, but when you read sales patter about being able to retire in 3 or 4 years, you know it's nonsense and alarm bells should be ringing.

    Google Learn To Trade, the owner Greg Secker and the previous incarnation of this company called Knowledge To Action. You could also add the word 'scam' to your searches and read what comes up. Should give you all the answers you need.
  • Trinityx
    Trinityx Posts: 20 Forumite
    edited 30 March 2017 at 12:15PM
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    Hey guys,

    Thanks for the replies. Someone said, "Why are they selling training if they are doing so well", and that is something I thought of too :)

    As to Knowledge to Action​ – thanks for the heads up.

    I should also point out that I was VERY sceptical of their offering, hence I came here to ask.
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