Cheng Likuy and Ahmad Ariff

I'm just wondering if these people exist or are they broker-generated mythological figures?

For those who don't know Cheng Likuy is reputed to have earned $247,000 USD with a $400 deposit. However the same story about him is repeated everywhere and there's no evidence of his existence.

Ahmad Ariff apparently earned $1,000,000 (and later lost all of it), and there seems to be a little more documented story behind him, including a couple of interviews.

Dear clemmo17,

I had also noticed several articles, mostly related to "is forex a scam? / What earning can be expected?" The wording is almost copied. Cheng apparently made that gain in less than 1 month using pending orders. While the other guy, Ahmed, had taken his $1,000 capital and turned it into $1 million in 2 weeks (100,000%), yet most articles state that Cheng set a new forex earning record @ 61,750%...

I didn't follow up any of these claims, to avoid trying to chase targets which would be unrealistic to the way I wanted to approach Fx trading.

There is another person mentioned, Cynthia Kase, not sure of her gains, but she has written 3 books maybe. There may be others, I don't search for them.

Just a hypothetical point of view from a high % return trader: If they had consistency to get those returns they will get A LOT of attention and even the wrong type of attention. Then trading other peoples money can lead to failure to get those returns and loss of consistency...

My view; even if there were detailed + verified statements available I would not believe it 100%, maybe only trust it 10% and find a way to test to prove the 90% myself

Best Regards,
Tzamo

Some brokers hold contests and I have seen enormous gains as in millions made in demo accounts within a month or so for prizes like $500. People are apparently in possession of EAs that can print money faster than the feds can.
There is going to be a lot of "I don't believe it" comments on this thread but apparently people win those contests and the brokers pay the prizes and it's not easy to squeeze money out of brokers if they think the results have been faked.

What i have seen and with pictures and all kind of confirmations"I belive the video still on youtube"Is a asian guy taking 330 dollars on USD/JPY alone to some 30-35 K in 3 weeks and lost it all in a day ore 2 and that is a true story,but i dont remember the name of him ore the video....I am sure its possible to find.That was just crazy trading with huge lots so it looks like a lucky streak.

Dear FXsniper111,

I think this is the video with the guy you mentioned: Here : Kuo Success Lee FX

He beyond leveraged his account, he holds overnight and keeps stacking. You will notice he said "I sold for 2.50, made $350.." He think he is selling $ as his lots. He didn't know he was selling $250,000 back then.

Apparently his channel is still active. To actually see what he was doing, someone could draw his trades on a chart and post here. Would be interesting to see if he would have been caught in the USD/JPY flash crash if trading this way by projecting his trading style. Maybe trading 100 lots by end on 2018...

Kind Regards,
Tzamo

Yes!!!Thats the one Pretty amazing stuff.If it where me now i would go down on the leverage way before going to 26000 from 350 in 2-3 weeks..But i know how it is you become so cocky you can even imagine loosing when make killings like that.I did the same with stocks in the end of 99 beginning of 2000 just before the IT market crash.I bought stocks in the "Graymarket"And bought for say 2000 dollarsand doubbled the money to the day after again and again and again for months i think i took 10000 too some 30000 in a few months and i was in heavy in a IT Company tlecomputing on the nasdaq actually when the crash started so i lost 8000 in a few hours and i stopped taking a profit of around 22000 in total for the months i had traded. So i didnt go down with the skip almost everybody did they just tought it was correalation,but it dropped like a rock all of it.Before my 8k loss i tought it would just go and go and go.

Everybody was trading and everybody making money people quitting jobs to daytrade on cafees ore whatever and soon reality sets in and all profits gone and more.

This is now almost 20 years ago and i dont have funds like that anymore that is why i trade forex,because you can pratice live with pretty small amounts and if you have 500 to gamble you can go in hard and try and make it a lot bigger. Usually you will blow the account,but i know traders that are good at trading and start of everyday with 500 ore someting like that and makes huge profits in a day.But then also blow up,but do not redeposit until next day.So even have 50k in the bank dont want to risk more than 500 a day.I am not sure what is the smartest ting to do.Trade of a bigger account for some "Normal"gaines ore taking high risks with a fixed start amount everyday.If you dont trust your broker the last option is way the best.LOL.

I just try to make some small gaines everyday and try to avoid loosing days like most people do.With this video proves its possible to do 10000% under a month even this guy may be the only one to ever do that


PS;Graymarket where stocks not on the indexes there for called grey and they where not under any regulations.Like inside info and trading where at the time allowed for theese stocks.I am not sure how it is now.

EDIT.Sorry i had 12000 in profit left with 22000 doesnt really matter much,but right is right.

nice

but most of the time the problem with overleveraged trading is the LOST IT ALL part

what's the use of making huge returns if sooner or later you're gonna loose it all ?

the option to withdraw almost all everyday is there , but trading with too much risk almost always brings too much drawdown

Dear MXT,

You make a good point about what is the point in doing that if all is lost. I think it actually can be much worse if gaps or flash crash happen, which is something I learned the hard expensive way out of my own experience.

Like you mention, it might be important to protect your downside with something like daily withdraws

Best Regards,
Tzamo

exactly right bud

take the flash crash on the Pound , the Yen , the EurChf or the other spikes and gaps

i'm not against making big money , but huge drawdowns can have such a devastating impact on a trader's life that there must be some kind of protection of any sort