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Who has become rich trading forex?

  • #241
  • Feb 9, 2014 12:26pm Feb 9, 2014 12:26pm
I have been trading for 5 years. It took me 3 years to figure out a plan and get use to the markets move. Now, I have been profitable for about 2 years. Im not rich, and riches might not come before years, but Im on the right path
  • #242
  • Feb 10, 2014 12:32am Feb 10, 2014 12:32am
Quoting yazzie
{quote} HaHa! I have no interest but if I had taken you up on "your bet" from another thread, you would have surely lost. Seriously though, FOREX is my full time job, it's how I pay the bills and live a very nice lifestyle. That's a Fact!
The bet is still open but nobody will take it.

Believe me, you will lose big time.

That's a FACT.
The Black Swan: The Impact of the Highly Improbable
  • #243
  • Feb 10, 2014 1:00am Feb 10, 2014 1:00am
Quoting MapleLeaf
Only ones becoming rich are the Brokers and Market Makers... They are the 0.4% of people who take all the money that 99.6% of people lose. Then you have the people doing a living "PROMOTING" FOREX. What do they do? They are affiliates, for example The Wizard Merlin and the guys from this forum. That's a smart move. They won't trade Forex because they know for a fact that they will lose money, instead they will promote it. Then you have people like James16 and other people who make money with his PAID Forum and teaching. There is no single member/person...
MapleLeaf, you are the type that if I said I don't take losses, you would call me full of shyt. If I showed you a statement, you would say it is photoshopped. If I had the statement audited, you would say it is luck. If you want to hold a belief, there are any number of ways to discount what someone is telling you.

Have you ever built a sales business? When people trade, and they trade the right way, that is what they are doing. They are trying to move a set of knives, if you will. They buy the knives at wholesale and try to unload them at retail. At first, they only sell a couple of sets, then they use that to buy more sets to sell to more people, and so on.

You failed at forex, for the same reason everyone fails at it. You want to get rich today. It does not work that way.
If you are good at something, never do it for free--Joker
  • #244
  • Feb 10, 2014 1:47am Feb 10, 2014 1:47am
Quoting trader121
Rookies: Always keep in mind that extraordinary profits are bound automatically to extraordinary risks. It is not possible to make high profits using low risks.
Generally speaking, this statement is wise and holds true. Simply, because the edges exploited by the majority are weak by definition. By saying a edge is weak I mean, it is unable to use high risk% per trade without serious danger of incurring severe draw down, or even bankruptcy.

However, if one is persistent and resourceful enough to find a rare strong edge, then a higher risk% per trade (and consequently higher profit%) is possible without necessarily adding to the danger of entering into unmanageable risk/bankruptcy territory.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #245
  • Feb 10, 2014 4:52am Feb 10, 2014 4:52am
Broke even within a few months of trading, making mistakes and today, netting pips consistently..
  • #246
  • Feb 10, 2014 3:20pm Feb 10, 2014 3:20pm
Quoting jmn5611
{quote} MapleLeaf, you are the type that if I said I don't take losses, you would call me full of shyt. If I showed you a statement, you would say it is photoshopped. If I had the statement audited, you would say it is luck. If you want to hold a belief, there are any number of ways to discount what someone is telling you. Have you ever built a sales business? When people trade, and they trade the right way, that is what they are doing. They are trying to move a set of knives, if you will. They buy the knives at wholesale and try to unload them...
I am not "THAT" type of person.

I am the type of person that will tell you that you cannot make a living in RETAIL FOREX, trading exclusively retail forex on your own, for 1 year long, because you are part of the 99.6% of traders who lose money after 1 year of RETAIL FOREX TRADING.

If you really think you can do it and that you are part of 0.4% of people, then accept my bet. Let's say an AVERAGE of 3K per month. If you can do it, I will pay you what you do after 1 year of trading, minimum 36K.
The Black Swan: The Impact of the Highly Improbable
  • #247
  • Feb 10, 2014 5:04pm Feb 10, 2014 5:04pm
nobody trading on a margin with a few thousand bucks
  • #248
  • Feb 10, 2014 5:06pm Feb 10, 2014 5:06pm
Quoting Capelli
I have been trading for 5 years. It took me 3 years to figure out a plan and get use to the markets move. Now, I have been profitable for about 2 years. Im not rich, and riches might not come before years, but Im on the right path
Please elaborate.
  • #249
  • Feb 10, 2014 7:22pm Feb 10, 2014 7:22pm
Quoting MapleLeaf
{quote} I am not "THAT" type of person. I am the type of person that will tell you that you cannot make a living in RETAIL FOREX, trading exclusively retail forex on your own, for 1 year long, because you are part of the 99.6% of traders who lose money after 1 year of RETAIL FOREX TRADING. If you really think you can do it and that you are part of 0.4% of people, then accept my bet. Let's say an AVERAGE of 3K per month. If you can do it, I will pay you what you do after 1 year of trading, minimum 36K.
Trading does not work that way. I'm not trying to be evil about it. Trading is best measured in average percent gain over x period of time, using y leverage. If you want to issue a challenge that makes sense to a trader then I am sure you would get some takers, probably for free.
If you are good at something, never do it for free--Joker
  • #250
  • Feb 10, 2014 8:27pm Feb 10, 2014 8:27pm
Quoting jmn5611
{quote} Trading does not work that way. I'm not trying to be evil about it. Trading is best measured in average percent gain over x period of time, using y leverage. If you want to issue a challenge that makes sense to a trader then I am sure you would get some takers, probably for free.
I will tell you that no profitable traders would ever dabble in Maple Leaf's nonsense......Been trading for 14 months with WELL over $3K profit per month. There are trolls that will tell you that you can't make a living trading Forex. This is so far from the truth....I will not engage in any such foolish contest as I have nothing to prove except to tell others that you can be successful. I have nothing to sell nor do I care to elaborate on any specifics of what I do.

The trolls are incredible!!! It's quite good humor to be honest
  • #251
  • Feb 10, 2014 8:51pm Feb 10, 2014 8:51pm
Quoting yazzie
{quote} I will tell you that no profitable traders would ever dabble in Maple Leaf's nonsense......Been trading for 14 months with WELL over $3K profit per month. There are trolls that will tell you that you can't make a living trading Forex. This is so far from the truth....I will not engage in any such foolish contest as I have nothing to prove except to tell others that you can be successful. I have nothing to sell nor do I care to elaborate on any specifics of what I do. The trolls are incredible!!! It's quite good humor to be honest
It's always been strange to me that people would come on to a trading and tells others that it is impossible because it was impossible for them. It's kinda sad.
If you are good at something, never do it for free--Joker
  • #252
  • Feb 10, 2014 10:44pm Feb 10, 2014 10:44pm
Quoting jmn5611
{quote} Trading does not work that way. I'm not trying to be evil about it. Trading is best measured in average percent gain over x period of time, using y leverage. If you want to issue a challenge that makes sense to a trader then I am sure you would get some takers, probably for free.
Ok, so you don't accept the bet. I knew it.

I know exactly how this scheme works. Been following it even before you even started.

It's not about Possible or Impossible. It's about reality. You cannot pretend to make a living in a scheme where 99.6% of people lose money after 1 year of trading.

Notes: 0.4% are mainly the RETAIL BROKERS, so you will truly have a hard time trying to find one person belonging to the 0.4% trading on his own and earning a living off it.
The Black Swan: The Impact of the Highly Improbable
  • #253
  • Feb 11, 2014 1:36am Feb 11, 2014 1:36am
Quoting MapleLeaf
{quote} Ok, so you don't accept the bet. I knew it. I know exactly how this scheme works. Been following it even before you even started. It's not about Possible or Impossible. It's about reality. You cannot pretend to make a living in a scheme where 99.6% of people lose money after 1 year of trading. Notes: 0.4% are mainly the RETAIL BROKERS, so you will truly have a hard time trying to find one person belonging to the 0.4% trading on his own and earning a living off it.
You were told how to structure a bet that makes sense. If you are simply trolling then that's okay too, we all get bored sometimes. Maybe you could channel that extra energy into learning your craft.
If you are good at something, never do it for free--Joker
  • #254
  • Feb 11, 2014 1:52am Feb 11, 2014 1:52am
can't help jumping out to slap stupid

you can't do 100% for sure, but so many ppl can do it for sure too

you don't even understand what's the difference between retail traders, private fund, and hedge funds...... no wonder you reach such a stupid conclusion

btw, there's tons of edges in markets. why do all those edges can only produce, at a reasonable risk level, a profit% @ lower than 100%???????? what's so magic about this number of 100%? can someone do 80%? or 60%? if yes, why 100% suddenly fails?

you provide an answer to it and you will win the nobel! can you?

dang, can't believe so dumb an idea seemingly widely agreed.........

Quoting trader121
{quote} No one does 100% per year - no one ever has, no one ever will.
  • #255
  • Feb 11, 2014 2:54am Feb 11, 2014 2:54am
Quoting jmn5611
{quote} You were told how to structure a bet that makes sense. If you are simply trolling then that's okay too, we all get bored sometimes. Maybe you could channel that extra energy into learning your craft.
Interesting though that members trying hard to keep opinion regarding forex positive, have some sort of devlish avatar....
  • #256
  • Feb 11, 2014 3:23am Feb 11, 2014 3:23am
Quoting jmn5611
{quote} You were told how to structure a bet that makes sense. If you are simply trolling then that's okay too, we all get bored sometimes. Maybe you could channel that extra energy into learning your craft.
Still, you don't accept the bet when you first told me that I would lose.

You throw the stone and then hide. Pretty smart, huh. But quite cowardish.

Just sayin...
The Black Swan: The Impact of the Highly Improbable
  • #257
  • Feb 11, 2014 1:55pm Feb 11, 2014 1:55pm
Quoting MapleLeaf
{quote} Still, you don't accept the bet when you first told me that I would lose. You throw the stone and then hide. Pretty smart, huh. But quite cowardish. Just sayin...
I did not comment on whether or not you would win or lose. Is English your mother tongue?

I told you to structure a bet that makes sense, and I told you how to do it.

We are still waiting..............
If you are good at something, never do it for free--Joker
  • #258
  • Feb 11, 2014 2:23pm Feb 11, 2014 2:23pm
Quoting jmn5611
{quote} I did not comment on whether or not you would win or lose. Is English your mother tongue? I told you to structure a bet that makes sense, and I told you how to do it. We are still waiting..............
I wrote the original bet a while ago, I suggest you look for it.

As I clearly said: AVERAGE per month. You can do 1K one month and 5K the other.

The thing is that you need to finish the year with a decent income, in that case 36K in total earnings.

Dude, I can even lower the barrier to 2K per month AVERAGE (INSTEAD of 3K)... That would be 24K per year.
The Black Swan: The Impact of the Highly Improbable
  • #259
  • Feb 11, 2014 4:43pm Feb 11, 2014 4:43pm
Quoting MapleLeaf
{quote} I wrote the original bet a while ago, I suggest you look for it. As I clearly said: AVERAGE per month. You can do 1K one month and 5K the other. The thing is that you need to finish the year with a decent income, in that case 36K in total earnings. Dude, I can even lower the barrier to 2K per month AVERAGE (INSTEAD of 3K)... That would be 24K per year.

You are still talking in absolute monetary terms. No one in finance thinks this way. You have the thinking of a wage earner, which is why you have not done well in trading. What percentage gain do you propose and how much leverage are we allowed to accomplish the goal?

The more you talk, it becomes more apparent that you do not know some basics about how money works.
If you are good at something, never do it for free--Joker
  • #260
  • Feb 11, 2014 5:28pm Feb 11, 2014 5:28pm
Quoting jmn5611
{quote} You are still talking in absolute monetary terms. No one in finance thinks this way. You have the thinking of a wage earner, which is why you have not done well in trading. What percentage gain do you propose and how much leverage are we allowed to accomplish the goal? The more you talk, it becomes more apparent that you do not know some basics about how money works.
That's wrong.

You can talk in terms of percentage all you want, but if you have a poor welfare 10K mini FOREX BROKER account, and you claim to do 30% per year, that's barely 3K per year.

I understand that if you use those tricks, you can enter any bet you want. So, let's be realistic and talk clearly. 24K per year, that's what you need to do.

And man, Im lowering the barrier to 2K per month... Again, 2K... You can't say Im not giving you a chance here.

The original BET was about "doing a living in FOREX"... Not about making 30% per year in a 10K welfare account.

If you think you are the Wolf of Wall Street because you talk in terms of percentage, you are seriously mistaken.
The Black Swan: The Impact of the Highly Improbable
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