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Who has become rich trading forex?

  • #361
  • May 5, 2014 7:02pm May 5, 2014 7:02pm
Quoting magicpips
I am not rich but because of forex, I have pretty easy life.Last 5-6 years I do win 5-10% monthly .i do have a large capital to trade though, that is why I do well. The secret is not to be greedy in forex, if I am happy with my daily gain,I close the shop, that is my MOTO.That is it.
Where's the fun in that? I have a couple of terrific months every year or so and the rest of the time, I'm just waiting for those terrific months. It's fun! I don't like the consistent 5-10% per month. If I wanted a boring job, I would have become an accountant. : )
  • #362
  • May 6, 2014 7:39pm May 6, 2014 7:39pm
Has anyone had any social trading success? is it worth it (joining a social trading system) or is it just more fluff and hot air? By success I mean actually making money.
  • #363
  • May 8, 2014 8:06am May 8, 2014 8:06am
Everyone wants to be success in Forex but it depends on the skills of the trader how they work hard and develops their trading knowledge to achieve their goals of success in Forex.
  • #364
  • Edited 10:27pm May 8, 2014 10:16pm | Edited 10:27pm
Who has become extremely rich and wealthy with FOREX?

1) Brokers aka Market Makers.
2) Huge Hedge Funds that are able to manipulate the market with their trillion dollar funds (Examples: PIMCO, BlackRock, GoldmanSachs, you name it) (Also Market Makers)


Who has made a lot of money with this Scheme?

3) Big affiliates promoting the Brokers in Revshare commission (Example: ForexFactory)
4) People selling best sellers Books about FOREX.
5) People selling paid memberships in revshare or other paid lessons, etc... (Example: James16 and Dialist)
6) The Owners of WEBSITES like collective2, Zulutrade, MyFxBook, etc...


REMEMBER, 99.6% of traders lose money with FOREX. And that money is earned by the Big Ones.


Remember, for someone with a trillion dollar hedge fund like any of those US New York VULTURES, it's incredible easy to manipulate the market. They can do it any day they want, and they can cash in millions and millions of dollars PER HOUR.

And you as an individual, you think you have a chance?

Don't lose your time and your hard earned money in this scheme.

You have been warned.

Nothing else to add.


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The Black Swan: The Impact of the Highly Improbable
  • #365
  • May 9, 2014 2:16am May 9, 2014 2:16am
If you have the right mindset which includes the following :
- Don't be greedy
- Take losses when you need to without becoming emotionally involved
- Be patient
you will make money.

Even the top traders loose money. As the saying goes "Forex trading is the transfer of money from the impatient to the patient".

Have a look at this system as well using high leverage trading on a low investment (example uses capital of USD10). With the power of leverage and by earning 15pips daily, the closing equity after 30days will be USD580.

Impossible ? No. Just need to have patience and be focusses. Don't get greedy and wait for the exact right time to execute your trade.

Inserted Video
  • #366
  • May 11, 2014 10:43pm May 11, 2014 10:43pm
Quoting MapleLeaf
Who has become extremely rich and wealthy with FOREX? 1) Brokers aka Market Makers. 2) Huge Hedge Funds that are able to manipulate the market with their trillion dollar funds (Examples: PIMCO, BlackRock, GoldmanSachs, you name it) (Also Market Makers) Who has made a lot of money with this Scheme? 3) Big affiliates promoting the Brokers in Revshare commission (Example: ForexFactory) 4) People selling best sellers Books about FOREX. 5) People selling paid memberships in revshare or other paid lessons, etc... (Example: James16 and Dialist) 6) The...
I wonder if you know 99,6% FX trader lose money,why you're still here?To warn everyone here or to see they losing money everyone?What is your purpose?
  • #367
  • May 11, 2014 11:35pm May 11, 2014 11:35pm
Quoting kaka_ht
{quote} I wonder if you know 99,6% FX trader lose money,why you're still here?To warn everyone here or to see they losing money everyone?What is your purpose?
The question is, What are YOU doing here, when someone is telling you the truth and you are thinking that some day maybe you could do it... LOL.

If you lose your hard earned money to one of those BROKERS, don't come later and whine. I told you, and you have been warned over and over and over again about it.

It's also funny to see someone with a Communist Avatar trying to fit into the most Capitalist Scheme in this world.

Nothing else to add.
The Black Swan: The Impact of the Highly Improbable
  • #368
  • May 13, 2014 3:52am May 13, 2014 3:52am
You need capital to turn forex from a game to a business. This is true, you can only get 1000$ account to manage when you have yourself a cent account of 5 year winning records. But big client will come when they see that your share in the PAMM is huge.

Once you are in business, You need a long proven track record to prove your skills. Suggest of 3 years.

And you need friendship all over the world. Your IB will refer client to you, your friend of friend will also refer client to you. If you are bad person, they will not refer anyone to you.
Flappy Pips - How to keep your hard earn PIPS
  • #369
  • Jul 2, 2014 8:26am Jul 2, 2014 8:26am
Quoting MapleLeaf
Who has become extremely rich and wealthy with FOREX? 1) Brokers aka Market Makers. 2) Huge Hedge Funds that are able to manipulate the market with their trillion dollar funds (Examples: PIMCO, BlackRock, GoldmanSachs, you name it) (Also Market Makers) Who has made a lot of money with this Scheme? 3) Big affiliates promoting the Brokers in Revshare commission (Example: ForexFactory) 4) People selling best sellers Books about FOREX. 5) People selling paid memberships in revshare or other paid lessons, etc... (Example: James16 and Dialist) 6) The...

I am adding also here that the users of sites like zulutrade, have made tons of good money.
  • #370
  • Jul 3, 2014 8:22am Jul 3, 2014 8:22am
I think plenty of people make decent money by trading forex as a business, but if by 'rich' you mean making enough for one to retire, then I would imagine that would be a much smaller proportion of professionals the market.
The first and key point is that you need a large amount of capital to make 'significant' gains in trading forex.
Other factors are important and successful traders who aim to become 'rich' must have a focused and dedicated strategy with continuous desire to improve efficeincy along with a strong risk appetite to make abnormal returns from speculative trading
Finally is your general attitude to forex trading that this is a 'career' and 'genuine business' or just a 'punt' and side-venture....if it's the latter then it won't happen, but if you eat, breathe and sleep the 'business' then why can't you become 'rich....
  • #371
  • Jul 15, 2014 10:32pm Jul 15, 2014 10:32pm
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...
Hi yazzie,

It would be great if you can answer a few myth I have.

#1 Do you have a job beside "trading forex" (you did say trading forex full time, but it wasn't clear if you trade full time AND still have a job)

#2 If you are trading full time ONLY in forex, how big amount of balance money do you think a person would need to have in order to get as much money as you like, you win like 3000$ per day..( i know it is average ..not an absolute.. but I don't think 3000$ is a big risk to you it's probably a 10% risk i am assuming).
But non the less It would be a REALLY great help if you who "already trading sable for 14 months straight".

My living standard is not....like millionaire so , something around 3000$ per month is good enough for me. I just don't know how small/minimum a balance you think one would need to "trade forex full time WITHOUT a job"


Thank you.

P.S please don't talk about "it depend on my skill and discipline and win ratio % etc..." Those I can take care of it...

I know that if you have a 200,000$ account you can trade full time forex only sure.. but no one have that much without having a real job with degree...

I don't have a degree... SO that's why I am looking for a "rough minimum estimation initial balance" from some one who...already been through..it.

Yes, I do have a normal (not minimum wage) but.. about 11$ per hour job.
  • #372
  • Jul 15, 2014 10:35pm Jul 15, 2014 10:35pm
$100k usd/aud
  • #373
  • Jul 16, 2014 9:29am Jul 16, 2014 9:29am
Quoting victor_ray
{quote} Hi yazzie, It would be great if you can answer a few myth I have. #1 Do you have a job beside "trading forex" (you did say trading forex full time, but it wasn't clear if you trade full time AND still have a job) #2 If you are trading full time ONLY in forex, how big amount of balance money do you think a person would need to have in order to get as much money as you like, you win like 3000$ per day..( i know it is average ..not an absolute.. but I don't think 3000$ is a big risk to you it's probably a 10% risk i am assuming). But non the...
Victor, see answers below:

#1- I've been Trading full time with NO other job for 18 months now. I worked in the Corporate World for over 20 years, am single with no family or debt, and was lucky to be in the right place at the right time a few different times in my corporate Career. Therefore I was able to start trading with about $30K Capital.

#2 - So over the course of the past 18 Months I decided to really treat this as a business, set up a corporation for my trading business (for tax purposes) and only trade in my business. From my earning in Forex as well as some additional capital infusion my trading account is now more than 10x what my initial investment was. When I started I traded 1 standard lot and as my account grew I began to increase my trade size. That is a personal thing and it depends on your risk appetite.

But, to do this full time to pay the bills I really think you need a minimum $20K US dollars.
  • #374
  • Jul 16, 2014 10:39am Jul 16, 2014 10:39am
A trader can develop his initial investment, and get a damn good ROI, but this ain't gonna happen overnight, it would take some time, some effort on your part..
As for those who have made it rich in forex, well, the list is damn big and starts with big banks, hedge funds to brokers and the professional traders..
  • #375
  • Jul 16, 2014 9:42pm Jul 16, 2014 9:42pm
Wow that is amazing. From 30 thousand to 10Times that amount. #30 thousand times 10 = 300,000.00 USD. Wow is all I can say! I could live very well on those returns. Congratulations!
  • #376
  • Jul 17, 2014 9:27am Jul 17, 2014 9:27am
Quoting yazzie
{quote} But, to do this full time to pay the bills I really think you need a minimum $20K US dollars.

Thank you yazzie for your experience input

I feel more "safer" now should I ever get fire from a job or even self quit in 1 year-2 year.
  • #377
  • Jul 17, 2014 2:24pm Jul 17, 2014 2:24pm
In my humble opinion, it's a two way thing. Making money via Forex is more of a skill and I believe that everyone should learn this particular skill. So that's the first one, the second thing is that everyone should get a regular job, that allows the flexibility for you to trade the markets (if that exist these days), so it becomes a two pronged attack. I guess t's more probable for those living out in any location above GMT 'cos they get to work and at evening to night time they can trade mainly the US session which has a lot of movements generally. But regardless, I vouche for everyone to learn the skill on making money via Forex. Any ideas and comments?
  • #378
  • Jul 17, 2014 6:25pm Jul 17, 2014 6:25pm
I can certainly attest to the fact that trading is not easy. Not for me anyway. Been studying for years. I am now looking at the FX charts trying to figure out a system that suits me. I am finding that they all seem to share some basic characteristics. I do have a decent amount of Capitol for an account. I don't plan on blowing it by not knowing how to trade. That is why I put a lot of study into it. Hope it works out, but it ain't easy. No I am not rich, but just Maybe???
  • #379
  • Jul 18, 2014 2:49am Jul 18, 2014 2:49am
Quoting sweatx
I can certainly attest to the fact that trading is not easy. Not for me anyway. Been studying for years. I am now looking at the FX charts trying to figure out a system that suits me. I am finding that they all seem to share some basic characteristics. I do have a decent amount of Capitol for an account. I don't plan on blowing it by not knowing how to trade. That is why I put a lot of study into it. Hope it works out, but it ain't easy. No I am not rich, but just Maybe???
Yes, do review all the free online resources..and as for testing out strategies you can use a demo and move on to live when you are ready. And with hard work, patience, research and efficient trading, you should be able to land good returns consistently..
  • #380
  • Jul 18, 2014 11:52pm Jul 18, 2014 11:52pm
Quoting boxingislife
after 3 years of losing and eventually break even and lookin and trying all kinds of things, im now starting to make money more consistently day after day. so yes u can make money in fx and the best advice i could give u is find a system that works for u or a strategy actually and follow it. discipline is one of the most important things u can have in this game. and thats what is helping me now.
please,after receiving some training from your broker,how many months or weeks did it take you to do your first real trade and how long did it take you to double your initial deposit?
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