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How can this be?

So I just saw someone else post something titled "Crush my dreams". Which I think is a great idea. I for one don't want to waste my time learning something that I can't ever be good at. I'm reading along and everyone is giving it to em. It seems the general consensus is "25% per year would be something only really good traders could achieve." Basically giving a very grim outlook to currency exchange. Especially something that is touted as something you can bring little money to and with hard work make a living out of. 25% on an initial $2000 investment is just $500. Which is definitely a lot more than someone would get putting their money in the bank but not really what you'd call making a living.
I recently found this subreddit and really enjoy it. I've learned a lot from the 2-3 weeks I've been stalking it. I heard about Forex back in December from my mother in law. She was talk about it from a co worker. Since December I've been trying to immerse myself in this concept of forex. Scouring tutorials, books, videos, etc. I learn something new every day and I feel like I gain a new piece to the puzzle all the time, Still not quite ready to dump my own real money into it yet but I feel close.
So the mother in laws coworker, who informed us about forex started back in August of 2014. That's when she invested real money. She trades mostly from her cell phone. No technical analysis from what I can tell. She's a very nice lady. Wants to help people so she offered to teach me what she knows. I cooked her up a dish as thanks and headed over. She told me how she found out about forex. She told me how she spent like $250 on a class that she felt ripped off because she lost part of her initial investment because the "teacher" didn't tell her about actually closing her trades.
This is going to be a brief and outlined description of what she "taught" me the day I went to her place. Keep in mind I've been studying on my own for almost 6 months.
-Candle wick is on the bottom? It's going to go up so buy. -Candle wick is on the top? It's going to go down so sell. -Trade USD/CAD -Trade from 8AM EST - 12PM EST -Don't trade from 12-1 (Lunch ish on the stock market?) -Don't trade on bank holidays -Don't trade if you're not going to watch it (she's basically scalping and I don't think she knows much about stop limits? idk) -Go to dailyfx.com and read the news. -Go to yahoo news and read the financial section. (Edit: This is an oversimplified explanation of what she taught. These were the main points)
That was essentially it. Which don't get me wrong, there's some good info in there, but not exactly the education I expected to get from a successful trader. I asked her a couple questions and had used the terms support and resistance and she was like "I don't know much about the terminology but that's why I think you will do better than me because you're smarter than me."
From what I can tell she just has some sort of instinct and can read the market really freaking well.
So to really raise some eyebrows: Her initial investment in August was around $500. She lost about half on some bad initial trades. She has, since then, grown her account to over $23,000. I shit you not. I saw her trading station with my own eyes. I asked her just to confirm that she had not added any extra money since her initial $500 and she said no. Which is something like a 10,000-11,000% return on investment right? Like 1000% increase per month on average.
She seems like a very genuine lady. She didn't charge me anything. She checks up on me regularly to see my progress. She says she just wants to help me and my wife get on our feet. She's very nice. I tried trading on the 1m and 5m charts and just found that the spreads were eating up my gains on the demo account. Not enough winning trades with enough pip change.
What are you guys thoughts? I know this is probably going to seem made up, but had I not looked at her account with my own eyes I'd be calling bullshit, which was the main reason I wanted to go over to her place and have her teach me. Just to see her account and see if she was full of it... But it was in fact a real account. It was ready to be withdrawn if she wanted to.
submitted by Wannabeforextrader to Forex [link] [comments]

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