Will I be richer than Bill Gates?

The problem is not to have 1 or so %. The real challenge is to be consistent over time. Forex is an ever changing environment and we as retail traders don't have all the information available for the big banks

I think that theoreticaly yes .. practicali become from zero to hero is very hard .. becouse its not only about good trades, its mainly about series of bad trades, you can hit 20 - 30 bad trades in one row, which will broke your account

Look at George Soros, one of the best Forex trader, with his fund is not richer than Bill Gates

I want to be rich .. but to be billionaire is too much for me .. because money mean for me not only buying expensive stuff, but be your own boss, do what do you really want, take a vacation when you want .. be really free, thats why i love forex

I think that diference between multimilionaire and Billionaire is not really big. (i mean in their living style) . .Like Gorden Gekko said in Wall Street II - money never sleeps .. its not about money, its about game, between people

Im a newbie in forex and i guess i just have to work hard to be able to surpass bill gates richness,, Need help..anyone please.

Custos, every time you repeat this crap I will keep telling you you are totally wrong. Just cos you cannot do it does not mean it cannot be done.

1-5% a day is easily doable once you have a good system in place.

Haha, don't know about the OP being richer than Bill Gates, but certainly 2% daily return is possible.

I didn't know the first thing about Forex until a month ago, did a demo through Forex.com, averaged close to 4% a day over a 30 day period, signed up for a live account with $500 this past Sunday.

Sunday 5pm-Monday 5pm: I got 3.8%
Monday 5pm-Tuesday 5pm: I got 2.2%
Tuesday 5pm-Today 5pm: I got 3.1%
Today (after 5pm): I got 5% and ended early for the day

Certainly in a market this volatile, you can make a big percentage daily (3-5% avg), but the real challenge is staying consistently in the black, particularly when there is a lower amount of volatility. My goal is to average 2% a day for an entire year; if the markets continue to be so unstable, I think it's do-able if you have some luck and a fairly risky portfolio.

if the end goal is to be richer than Bill Gates I still have some trading to do

It shouldn't be because if you constantly put yourself under the gun like that you will fail. It should be a game of profitability no matter how big or small all that matters is that you are profitable.

Profitable is the difference from you and about 70-90% of the others camp known as "the losers".

Profitable can be a day at a time walk, much like that of an drug user they take one day at a time to be sober... you as a trader take one day at a time to be a winner.

A homerun hitter in baseball really needs to bat around .300 to be considered "good" while this means he strikes out 70% of the time.

In FX if you strike out 70% of the time you are most likely a LOSER. I hope that gives you some clarity as to how hard it is sometimes.

in my opinion every one can but with unique idea not with forex

No doubt you can get rich, but Bill gates rich? That's very unlikely.

Bill Gates rich... who needs that kind of money? (Well, besides Bill Gates, because by the looks, he wouldn't probably have much without it, :-D) If it's you're goal, then have it man. Good luck!

I like This thread =)

yes you will be ! =))

Why people should put these brackets on their mind all the time, what's the sense copmparing yourself or your profits with anybody else or his profits. You have your own standard.

You will. In your REM stages.