Just opened up a practice account to get started. I was wondering has anyone made any decent profits from it?

My boyfriend made a profit of half a million in two years...U could say thats a profit. Though I must say with recession time now, be careful. Its a lot of work. It needs time, precise work and some good analysing...Goodluck!

It depends on what type(s) of currency you want to trade and the type of instruments you want to use to trade these currencies. You should keep in mind that return-volatility covariance behavior of exchange rates are extremely difficult to predict due to complex and unrecognized pathwise properties of higher moment dynamics. Now, this doesn't mean its impossible nor impractical to design a model; you can probably develop a stochastic volatility model similar to the observed behavior of volatility "smiles" implied in prices of traded options for example.

Keep in mind that the forward rate is NOT an unbiased predictor of future spot rate and exchange rates display a strong volatility clustering (periods of high volatility is followed by periods of high volatility, low periods with low volatility). Before you part ways with your dollar I strongly suggest you try modelling these returns and volatilities using a simple vector autoregression and its associated conditional volaitility with a GARCH model.

Seriously though, trading in foreign exchange market is no walk in the park.

Woah @Aiyla mind asking your boyfriend what currency he changed to and from?

Half a million...






...Yen?