Has anyone become wealthy from forex?

a proof

Has anyone of you knows or met someone making millions of dollars from gambling or sports betting? Has any one of you met anyone making billions from lottery constantly? I think a lottery winner, pro gambler, pro soccer player or whaever you name it who ever invested similar capital has exactly the same chance.

The difference between the person who makes millions of dollars consistently and majority relies on all non-cognitive skills. Most of non cognitive skills develop during our childhood but not limited with that. If you want something so badly and take an action to be there and never stop till you get what you want then you will be there.

If we all ment to be that great and if peaks are so reachable then how will you define success. Yes there are people out there making millions from any sort of businesses. But all have something that is better than you or me. The question is are brave enough to challenge yourself? Can you outperform yourself? Then you will find success and money wont matter for you.

I hope that gives the idea where to focus.

I disagree with the part that if someone discloses their edge that it will stop working as more and more people jump on board. But I also do agree with the part that someone seemingly successful would hesitate share his/her method with the world, just because he/she probably would have worked hard for it and expects the same for anyone who wants to make it as a trader and that's only fair. I've seen people sharing their methods some of them are very much workable however the problem occurs when we start adding or subtracting things from the original version because we just can't help it, its in our very nature. It doesn't help much when we have different points of views and we see things differently. So 1 person may take it in some way and another in a totally different way regardless of the method shared. That's why people say its personal discovery, you have to find out what works for you.

since joined just spam about your charts, that how much you are smarter now, and how better they are...not only this thread, but any thread you posted lately.
if there is nothing to back up your worlds but a screenshot, i dont think ultimately anyone will take you seriously, doesnt matter how hard you are trying...
probably a good chance to show on a TE how great things working, will convince 100x more ppl than words and screenshots, i am sure

I do see people becoming wealthy with options in my area. But not with forex.
They say forex is more risky.

Thank you, that you call me a spam,
In the other forums I was asked how I do that.
I am honest, have shown it.
Forex trading only earns the money that has a lot or waits for the capital.
my picture should show that if one has waited for my successes too.
Nobody needs to take me seriously, I'm like I am.

my english is bad sorry

Generally we try to become wealthy by Forex trading but practically failed. because first of all we have to ensure most powerful analyzing trade knowledge which is the key to success in Fx , but we try to earn profit very rapidly without learning . as a result 90% are loser from here .

That’s the general process! We all started our trading from the zero level, but which traders try hard without enough dedication and determination, end of the day they can enjoy their trading.

Yes I know people who are making good money out of forex trading. Getting success in trading requires a lot of patience, hard working, quest for learning and practice. You also need good trading psychology. Most people fail because they just do gambling.

Hey guys, im new to the forum and forex/trading in general. I've been studying/learning nonstop for the last month or two & have been soaking in a substantial amount while getting familiar with the act of trading in the mt5 platform. I've been watching a bunch of success stories on youtube, many of which im sure are not legitimate, but was really surprised with the majority of peoples responses in this thread in which they replied no, you cant get wealthy with forex.

My motivation to get into trading was from my personal experiences watching friends going from $1,000 a week jobs to quitting them and doing a few trades a week making 3x what they were making in a 40 hour work week.

I own multiple businesses currently and make several hundred thousand per year, but have no shortage of stress, no days off and burn out from what I do. I do well, but a huge chunk of my wealth is invested in my main business which is an auto dealership. (hugely capital intensive) Long story short, unlimited scalability from a truly sole proprietor operation with worlds less liability (no overhead, no insurance, no employees, no inventory being exposed to depreciation, mechanical failure, vandalism ext) sounded extremely appealing to me.

I see people all the time with small $5,000 accounts with 500-1000:1 leverage trading multiple standard lots and not getting rich, but doing fairly well. I suppose my question is this. I know for a fact im not the only person that has a decent nest egg put away, and I know there are plenty of extremely knowledgeable people both here on this very forum and others alike that are trading in the forex market. I know big, high probability trades may not be plentiful, but according to "billyrayvals" thread called "no brainer trades" they are indeed out there. Why is it not a common occurance to seek 1-2 of these opportunities per month, trade large lot sizes with little risk/reward ratios and crush the market?

I absolutely hope that my very first post does not come off as arrogant rather the way people talk in this forum inspire me to think this way with their knowledge of the market. This being said, if someone found one of those "no brainer trades" only 2 times per MONTH yielding only... 80 pips each? trading with a $100,000 account at 500:1 leverage you would be able to hold a $50 million dollar or 500 lot position. 500 lots at $10 per pip, per lot = $5,000 per pip is that correct? $5,000 per pip x 80 pips = $400,000 in a single trade with say 5%/$5,000 at risk.

Is this kind of trading not common with "no brainer technical set ups" or directly after big "fundamental news"? If not, is it possible for someone to tell me why?

Thanks in advance & I hope to network with many of you during my forex learning journey.

I don't really seek money on forex, for me it's much more interesting, for example, to create a stable trading system with minimal risks. And if you seek money, it's going to be useless.

with system you think is better use short time like scalping and long term like swing ?

Yes I know one person who is making good money over a few years. He is a long term trader. His trading strategies are mainly based on Divergence. But the most important quality of that person is his calm and relaxed attitude towards trading. He is very discipline in his trading.

One can learn so much from such a person just by observing them.

Yes, it’s very possible! This kind of traders can help the new Forex traders directly as well as indirectly.

To become wealthy by means of Fx trading is not a minor deal ,
honestly speaking I have never found at any guys who has changed his life completely by Forex.

I am sure there are some people right here on Forex Factory who would say their lives were changed by trading.

Well considering best Forex traders in the world make 5% a month...unless your starting with millions i don't see how your going to get rich...someone who starts with $500 has to take a big risks to turn that money into anything worth while. If you use risk and high leverage you will lose sooner or later its just math (yes 1 out of millions of people will make it into 100K just by crazy luck...). So assuming your the .1% who even makes money consistently for the last few years you might be able to turn 10K into few hundred thousands in a long term. But disciple, mind and dedication you need is crazy. On top of all of this you need to avoid the black swan events that SL wont mean much in if market drops few thousand pip instantly...GL lol

A trader friend of mine has committed suicide after many years' of losses, financed by large personal loans (from loan sharks) during the last year...

Well, her "life had been changed by trading" for sure...