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Who has become rich trading forex?

  • #321
  • Feb 26, 2014 12:31pm Feb 26, 2014 12:31pm
There is no "trick" anywhere in Forex - if you do any research, of any of the details, it becomes very apparent there are risks involved. I am really sick of those who never want to take any responsibility in their Forex trading. If you read any info within a broker site or some trading educator site, about how easy it is to make money in trading, I will find you just as many very detailed references as to the risks involved with trading. If you don't pay attention to "the details" then you are in harms way - in all aspects of life. As for business start ups, over 80% to 90% are gone within the first year here in most counties in the US. Why? Same improper mentalities, with not enough time spent understanding the risks and capitalization involved - the details.

Bottom line - the ONLY one that ever makes YOU take a trade is YOU! If you don't see a gun to your head when you click away on your trading platform there is no TRICKS! With all the thousands of Forex Hedge funds throughout the world, it is very apparent that Forex can be a game you can WIN. All these funds started out for the most part as small accounts with a well developed edge. They built their success with their trading edge, their disciplined execution, their attention to detail, and smart money management. It can be done, but a trader has to stop blaming others to have any shot at real success.

You can have your opinion and I will have mine. If you think you will fail from "tricks" before you ever start I can see why this is so hard for so many.
  • #322
  • Feb 26, 2014 12:44pm Feb 26, 2014 12:44pm
Quoting COGnizant
There is no "trick" anywhere in Forex - if you do any research, of any of the details, it becomes very apparent there are risks involved. I am really sick of those who never want to take any responsibility in their Forex trading. If you read any info within a broker site or some trading educator site, about how easy it is to make money in trading, I will find you just as many very detailed references as to the risks involved with trading. If you don't pay attention to "the details" then you are in harms way - in all aspects of life. As for business...
The tricksters know how to attract the gullible and the greedy. I have no problem with that. The disgusting part is to advertise forex retail trading as a "job" so that the weak minded can give the finger to that dreadful day job thanks to the forex millions that they are sure to accumulate "if they work hard at it and understand the risks and capitalization involved". The forex - more than any other financial markets - does attracts the lower life forms of humanity - just as gambling would.

Hedge funds do not build their business with their trading edge, but on their ability to attract OPM (other people money) on a regular basis. They have to show a little positive trading and an enormous amount of marketing and PR.
  • #323
  • Feb 26, 2014 12:51pm Feb 26, 2014 12:51pm
Quoting Mingary
{quote} The tricksters know how to attract the gullible and the greedy. I have no problem with that. The disgusting part is to advertised forex retail trading as a "job" so that the weak minded can give the finger to that dreadful day job. The forex - more than any other financial markets - does attracts the lower life forms of humanity - just as gambling would. Hedge funds do not build their business with their trading edge, but on their ability to attract OPM (other people money) on a regular basis. They have to show a little positive trading...
Al the Forex Hedge Fund owners I know all started as small guys with a proven edge. Their ability to pull in OPM is definitely required for their success, but if you don't have "performance" you will not get any funds.

There is terrible marketing strategies within the Forex trading world but I can find that in car sales, home sales, about any type of sales. I just see that as the norm, which makes me even more vigilant for performing due diligence when I buy something. It would be nice if the marketing could be more centered around proven performance, probably will not happen anytime soon.
  • #324
  • Feb 26, 2014 5:32pm Feb 26, 2014 5:32pm
it seems this guys will become rich soon

http://www.myfxbook.com/members/4xeu...calping/813852
I am smart than average trader, I simply copy the best.
  • #325
  • Feb 27, 2014 3:08pm Feb 27, 2014 3:08pm
Quoting I-Robo
it seems this guys will become rich soon http://www.myfxbook.com/members/4xeu...calping/813852
wow nice job
i think he is doing as per my plan
my plan is smiple
leverage 1:1000
cash in the account 150 or 250 max
and stop loss on account close or min 50% gain
i found a strategy to do 9 of 10 win traders just need more testing
  • #326
  • Feb 28, 2014 2:21am Feb 28, 2014 2:21am
Quoting I-Robo
it seems this guys will become rich soon http://www.myfxbook.com/members/4xeu...calping/813852
Quoting hamedmohd
{quote} wow nice job i think he is doing as per my plan my plan is smiple leverage 1:1000 cash in the account 150 or 250 max and stop loss on account close or min 50% gain i found a strategy to do 9 of 10 win traders just need more testing
If it was that easy and simple as following a signal, everyone would be rich by now.

If you think that following a signal that "looks ultra profitable" either in Forex Book or in Zulu Trade, will make you profitable long term, you are seriously mistaken.

There is no single trader that made a REAL PROVEN LIVING trading either in FX BOOK or ZULU TRADE LONG TERM. None. Zero. Nada. Not even 1 in thousands...

Everyone... I repeat, everyone loses long term. When they lose, they change their names, their emails, etc, and start over to try to catch new clients.

The only people doing money there are the owners of ZULU TRADE and FX BOOK... Obviously. And guess what? They do not trade, EVER.

The greek guy OWNER of Zulu Trade does not trade. Never ever. But he makes a lot of money with his site.

If you believe you can make a steady income following signals, go ahead. But if you lose it all, you have nobody to blame. And you cannot say you were not warned.

Go figure.
The Black Swan: The Impact of the Highly Improbable
  • #327
  • Feb 28, 2014 10:04am Feb 28, 2014 10:04am
Quoting MapleLeaf
There is no single trader that made a REAL PROVEN LIVING trading LONG TERM. None. Zero.
Just for you my friend here is this morning's take from the FOREX Market. It's there to be taken you just have to go and get it. And there are no fancy indicators either. Just Price Action. Thanks to this morning's take that's 14 straight months of 10% or greater return trading Forex Full time with no other job and I am not trading a Micro-Account. Go ahead, say it's a Demo, or Photo-shopped or made up and attack me - I know you will and YOU know you will but I don't care because I'm making a very nice living. Now I will agree that 14 months does NOT represent Long Term performance however I certainly think I'm headed down the right path
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  • #328
  • Feb 28, 2014 10:30am Feb 28, 2014 10:30am
Quoting MapleLeaf
{quote} {quote} If it was that easy and simple as following a signal, everyone would be rich by now. If you think that following a signal that "looks ultra profitable" either in Forex Book or in Zulu Trade, will make you profitable long term, you are seriously mistaken. There is no single trader that made a REAL PROVEN LIVING trading either in FX BOOK or ZULU TRADE LONG TERM. None. Zero. Nada. Not even 1 in thousands... Everyone... I repeat, everyone loses long term. When they lose, they change their names, their emails, etc, and start...
I think the main problem with lossing people is they gave up and some of them play in the marketI dont remember his name but he turn 10k in 4m from stock market in only 18 month and he was useing on volumeand if macd and other indicators is useless so way in all the programmes still putting it and many people like me still useing itjust you need to understand and modified it as per you need
  • #329
  • Feb 28, 2014 12:15pm Feb 28, 2014 12:15pm
Quoting yazzie
{quote} Just for you my friend here is this morning's take from the FOREX Market. It's there to be taken you just have to go and get it. And there are no fancy indicators either. Just Price Action. Thanks to this morning's take that's 14 straight months of 10% or greater return trading Forex Full time with no other job and I am not trading a Micro-Account. Go ahead, say it's a Demo, or Photo-shopped or made up and attack me - I know you will and YOU know you will but I don't care because I'm making a very nice living. Now I will agree that 14 months...
You should really consider taking his challenge....
  • #330
  • Feb 28, 2014 12:58pm Feb 28, 2014 12:58pm
Quoting Mingary
You should really consider taking his challenge....
Mingary, believe it or not I have already surpassed his $24K Annual "Challenge" through these first 2 months. I honestly have no desire to enter into a financial endeavor with some stranger in a Forum......I guess because I won't most won't believe I'm making money trading but I really don't need to prove anything to anyone and am not going to get into any type of challenge or bet with anyone here especially him
  • #331
  • Feb 28, 2014 1:08pm Feb 28, 2014 1:08pm
Quoting yazzie
{quote} Mingary, believe it or not I have already surpassed his $24K Annual "Challenge" through these first 2 months. I honestly have no desire to enter into a financial endeavor with some stranger in a Forum......I guess because I won't most won't believe I'm making money trading but I really don't need to prove anything to anyone and am not going to get into any type of challenge or bet with anyone here especially him
ok, then, fair enough.
However, that would shut him up for good. Making money in the forex is such a rare occurrence. The mystery could finally be put to rest.
  • #332
  • Feb 28, 2014 1:10pm Feb 28, 2014 1:10pm
Quoting yazzie
{quote} Mingary, believe it or not I have already surpassed his $24K Annual "Challenge" through these first 2 months. I honestly have no desire to enter into a financial endeavor with some stranger in a Forum......I guess because I won't most won't believe I'm making money trading but I really don't need to prove anything to anyone and am not going to get into any type of challenge or bet with anyone here especially him
If you didn't need to prove anything to anyone, you wouldn't have posted that screenshot to begin with.

If you're gonna flex nuts, do it 100%.
  • #333
  • Feb 28, 2014 1:13pm Feb 28, 2014 1:13pm
Quoting Mingary
{quote} ok, then, fair enough. However, that would shut him up for good. Making money in the forex is such a rare occurrence. The mystery could finally be put to rest.
I think this mystery is like we wonder how shops in big malls like dubai mall that only the shop rent is couple of millions and they make money 😊
  • #334
  • Feb 28, 2014 2:32pm Feb 28, 2014 2:32pm
Irrespective of some of the er..claims in this thread, the ones who have hit the big bucks due to Fx trading have to be the swiss bankers..
  • #335
  • Feb 28, 2014 5:28pm Feb 28, 2014 5:28pm
if I can continue like this, I will sure become rich...
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-03-01_10-31_Statement.jpg Size: 84 KB
I am smart than average trader, I simply copy the best.
  • #336
  • Mar 1, 2014 5:10pm Mar 1, 2014 5:10pm
Posting screenshots of accounts is very easy. I can do it and claim to be a multi-millionaire, and to do 10K per day. Anyone can do that. It's easy.

But we all know that's not true.

Otherwise you both will be the new MULTI-MILLIONAIRES very soon.

Just stop the lies and stop pretending, people. I really don't understand why it's so hard to be a BIT HONEST for people involved in FOREX and posting in FOREX FORUMS...
The Black Swan: The Impact of the Highly Improbable
  • #337
  • Mar 1, 2014 5:13pm Mar 1, 2014 5:13pm
Quoting yazzie
{quote} Mingary, believe it or not I have already surpassed his $24K Annual "Challenge" through these first 2 months. I honestly have no desire to enter into a financial endeavor with some stranger in a Forum......I guess because I won't most won't believe I'm making money trading but I really don't need to prove anything to anyone and am not going to get into any type of challenge or bet with anyone here especially him
Quoting Mingary
{quote} ok, then, fair enough. However, that would shut him up for good. Making money in the forex is such a rare occurrence. The mystery could finally be put to rest.
But he doesn't take the BET... We all know why...

He has no logical explanation for rejecting the BET other than being SCARED of losing it.

He is so full of lies.
The Black Swan: The Impact of the Highly Improbable
  • #338
  • Mar 2, 2014 4:59am Mar 2, 2014 4:59am
Hi

First of all - sorry this is not exactly relevant to the thead but I really need some advice and I can't start my own threads yet as a Junior Member.

I'm not really a trader but I run an ecommerce business. I buy my products abroad and must pay in USD, my home currency is GBP.
I have outgoing payments over the next 12 months of around 400-500k USD. Right now we have a very good rate on GBP/USD so I would normally do a forward contract to secure this good rate for 30-50% of my projected outgoings, so total around 200K USD.

I work with 3-4 FX companies who can arrange this contract for me, and they will compete to offer the best rate.

My question is in 2 parts:
1. How do I accurately compare their offers when the exchange rate is always changing?
2. What is a normal 'cut' % pips or whatever for the broker to take on a deal like this?

As you can tell I don't know much but since there is a lot of money at stake here would appreciate the advice of the community here.
Many thanks
  • #339
  • Mar 20, 2014 1:37pm Mar 20, 2014 1:37pm
Quoting I-Robo
it seems this guys will become rich soon http://www.myfxbook.com/members/4xeu...calping/813852

There are two sides to the spectrum. Most are on the negative side, and there are those select few who have made it big - no doubt about it. The problem in the example you showed above is not the nice equity curve, but the huge drawdown. Many people can replicate this; however, only actually a few can do so without such dire large drawdown. Months and months of success can easily be wiped out in one trade.
Management of drawdown is true skill to trading.
  • #340
  • Mar 20, 2014 6:47pm Mar 20, 2014 6:47pm
Quoting Affirmed
{quote} There are two sides to the spectrum. Most are on the negative side, and there are those select few who have made it big - no doubt about it. The problem in the example you showed above is not the nice equity curve, but the huge drawdown. Many people can replicate this; however, only actually a few can do so without such dire large drawdown. Months and months of success can easily be wiped out in one trade.
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