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Forex millionaire

  • #1
  • First Post: Jun 5, 2018 11:47am Jun 5, 2018 11:47am
Is it technically possible ?.

i keep reading about compounding and how it is mathematically possible to turn couple grands into millions in dozen trades or so, the math checks out but what about reality?
Assuming that you found the holy grail strategy and your broker isn't a bucket shop. i'm guessing your broker will reduce your maximum leverage after you've reached a certain account balance, right? they can't possibly give you a 1/400 leverage on a 100lot trade.
at how many lots would you start having problems with order fills?, i'm talking about big popular paires like eurusd, usdjpy, gbpusd, ....
i lose money for a living
  • #2
  • Jun 5, 2018 3:42pm Jun 5, 2018 3:42pm
Quoting tylerbose
Is it technically possible ?. i keep reading about compounding and how it is mathematically possible to turn couple grands into millions in dozen trades or so, the math checks out but what about reality? Assuming that you found the holy grail strategy and your broker isn't a bucket shop. i'm guessing your broker will reduce your maximum leverage after you've reached a certain account balance, right? they can't possibly give you a 1/400 leverage on a 100lot trade. at how many lots would you start having problems with order fills?, i'm talking about...
If you check your broker's leverage policy you will see what leverage they will give to you as your equity grows. There is no problem with filling up an order cos they are linked to interbank pool. So either they have a dealing desk to fill it against you (which means they are bucket shop) or they will erase it off in their own pool or straight to their liquidity providers. You can always negotiate with your broker about your leverage even over 100k accounts but they will probably not permit you to carry trades overnight (unless you are on a institutional platform). For a retail trading this is how it works.

Coming to being a millionaire with 1000 usd account is theoratically possible but certainly not in few trades or days may be few years even with a holy grail cos it is not the system that makes the money alone. You need to have money management skills and strong psychology to carry it out.
  • #3
  • Jun 5, 2018 9:23pm Jun 5, 2018 9:23pm
In theory, yes. In practice, no.

The road to destitution is filled with people who made millions in play money
Not all sins are created equal
  • #4
  • Jun 6, 2018 3:03am Jun 6, 2018 3:03am
it is possible but do you have mental capacity to handle it?
Help Others with GOD help
  • #5
  • Jun 6, 2018 5:01am Jun 6, 2018 5:01am
Quoting JmFinancials
it is possible but do you have mental capacity to handle it?
Thanks for your nice reply , really practical
  • #6
  • Jun 6, 2018 9:23am Jun 6, 2018 9:23am
Quoting JmFinancials
it is possible but do you have mental capacity to handle it?
I find trading to be much easyer when i only deal with account % instead of money.
i lose money for a living
  • #7
  • Jun 6, 2018 9:24am Jun 6, 2018 9:24am
Quoting Jay Walker
In theory, yes. In practice, no. The road to destitution is filled with people who made millions in play money
What do you mean? do you think a broker will fill a 1000lot order ?
i lose money for a living
  • #8
  • Jun 6, 2018 10:24am Jun 6, 2018 10:24am
Quoting tylerbose
{quote} What do you mean? do you think a broker will fill a 1000lot order ?
What I mean is exactly what I said. Theory and practice are different.

I'll let you know if I ever get to that point if a broker fills a 1000 lot order
Not all sins are created equal
  • #9
  • Jun 6, 2018 3:50pm Jun 6, 2018 3:50pm
I agree it's theoretically possible, but practically impossible. The more important point, in my opinion, is where your psychological focus is. If you want to be successful at trading, it's probably not the best idea to dream about turning thousands into millions, or whatever. The best thing in my opinion is to focus on being consistent, developing a system or a strategy that is consistently profitable, and then developing the psychological coping skills you need to compound your profits day in and day out.
  • #10
  • Jun 6, 2018 4:48pm Jun 6, 2018 4:48pm
I was once a part of an informal facebook gathering of traders, mainly forex traders. Most of these were retail traders and newbies. Among them were some professional traders which I was interested in following. Turns out, they were there for their own reasons and didn't have much time to help anyone. Still, I'm the type to capture as many snippets of trading reality from experts as I can.

And on one occasion, one of these long-time career professional forex traders posted an excel file with a schedule of trades. He did not keep it up long. I failed to download it. I don't normally do this, but I wish I had just to have looked at it longer. I recall what I saw: The beginning balance was from a $500 initial deposit. The final balance was just over a million. It looked as though this account was a personal challenge, one that he completed.

Apparently, it can be don.
  • #11
  • Jun 6, 2018 6:53pm Jun 6, 2018 6:53pm
Quoting tylerbose
Is it technically possible ?. i keep reading about compounding and how it is mathematically possible to turn couple grands into millions in dozen trades or so, the math checks out but what about reality? Assuming that you found the holy grail strategy and your broker isn't a bucket shop. i'm guessing your broker will reduce your maximum leverage after you've reached a certain account balance, right? they can't possibly give you a 1/400 leverage on a 100lot trade. at how many lots would you start having problems with order fills?, i'm talking about...
George Soros says Hi.
  • #12
  • Jun 6, 2018 8:49pm Jun 6, 2018 8:49pm
Making lots of money through Forex trading is completely dependent on some special conditions.
  • #13
  • Jun 7, 2018 1:32am Jun 7, 2018 1:32am
Quoting tylerbose
{quote} What do you mean? do you think a broker will fill a 1000lot order ?
Why do u think they cannot? They add up lots together and make it bulk. If it ia nit enough they order from from interbank. How hard do you think this can be
  • #14
  • Jun 7, 2018 5:15am Jun 7, 2018 5:15am
Quoting Butterscotch
Making lots of money through Forex trading is completely dependent on some special conditions.
Can you make sure some of them ?
  • #15
  • Jun 7, 2018 5:19am Jun 7, 2018 5:19am
Quoting tylerbose
Is it technically possible ?. i keep reading about compounding and how it is mathematically possible to turn couple grands into millions in dozen trades or so, the math checks out but what about reality? Assuming that you found the holy grail strategy and your broker isn't a bucket shop. i'm guessing your broker will reduce your maximum leverage after you've reached a certain account balance, right? they can't possibly give you a 1/400 leverage on a 100lot trade. at how many lots would you start having problems with order fills?, i'm talking about...
Probably, you could win more bucks selling training courses than working in forex.
Check IG.
My 2 cents
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #16
  • Jun 7, 2018 6:11am Jun 7, 2018 6:11am
You loose some, you win some. It’s 50/50 chance that you either gonna succeed or go broke in matter of seconds. Simple mathematics, mate…
  • #17
  • Jun 7, 2018 6:25am Jun 7, 2018 6:25am
Quoting UlliC
You loose some, you win some. It’s 50/50 chance that you either gonna succeed or go broke in matter of seconds. Simple mathematics, mate…
IT looks a simple calculation but practically not, most of the time we lose from here due to lack of real trading experience and a reliable support from a credible broker . broker always can play an important role to ensure success , because they can affect the result of our trading with certainly.
  • #18
  • Jun 7, 2018 10:32am Jun 7, 2018 10:32am
Quoting 2dollardog
I was once a part of an informal facebook gathering of traders, mainly forex traders. Most of these were retail traders and newbies. Among them were some professional traders which I was interested in following. Turns out, they were there for their own reasons and didn't have much time to help anyone. Still, I'm the type to capture as many snippets of trading reality from experts as I can. And on one occasion, one of these long-time career professional forex traders posted an excel file with a schedule of trades. He did not keep it up long. I failed...

I knew a guy like that, not even institutional, he turned $100 into a little over $100k in 8 days. i know for a fact that it is possible.
that being said 100k isn't millions, i'm assuming there is a limit to how big your orders can get before you start to move the market on your own.
i lose money for a living
  • #19
  • Jun 7, 2018 4:41pm Jun 7, 2018 4:41pm
Quoting tylerbose
{quote} I knew a guy like that, not even institutional, he turned $100 into a little over $100k in 8 days. i know for a fact that it is possible. that being said 100k isn't millions, i'm assuming there is a limit to how big your orders can get before you start to move the market on your own.
Eight days is incredible! And very lucky. I can see it happening under certain fundamental events, for example. I was still too green when Trump was elected. Remember that? Wow. I look forward to capturing such moments. I could nail it now.
  • #20
  • Jun 8, 2018 1:59am Jun 8, 2018 1:59am
like putting a thread into a pinhole in the dark of night. yes sure possible
we don't predict, we only ride
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