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Success Stories--Those without Harvard Education, Aweso Mentors, or Genius Intellect. 46 replies

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Success stories

http://www.fxstreet.com/education/ma...l-money-early/

Here is a great article that sums it up.

The Hun.
Quoting Big Pippen
He MADE and LOST the billion. Big Deal! To him, it's nothing. I'm sure he learned from it and is making and keeping billions by now.
I don't think so. Loosing 1 bilion is something even for him. If they have 50 bilions that doesn't mean they have 50 bilions in cash, and loosing 1 it's somthing.

Who did he lost to? Not to me
Try hard, think fast, die young
Quoting thehun
I'm with you on that dude. Now I am a "live" trader, and yes, I will have to reload the account again, but I have learned from previous mistakes and I will get to the point of "insane" profitability with a lot of hard work. Here is the thing with demo trading....while you learn systems and indicators and all that good stuff, you are missing THE BIGGEST PIECE OF THE ENTIRE TRADING PUZZLE, and that is the mental aspect of making and losing money.
You are absolutely right, but in my case I don't need the experience of making and losing money to know what it feels like. I'm sure its not a lot different to losing $30K on a business and realising you stuffed it, nor gaining $11k from a 40.00 investment and a few hours of your time. It's pleasure and pain and feels the same whereever you get your fix.

In demo trading we are learning the mechanics so we don't tank from stupidity. This is a successful action in anyones book. Power to the demo traders my current brothers.

Success is a sequence of events planned successfully from start to finish and carried out to an intended conclusion. Rock on demoers.
Just wanted to say that there are probably more profitable traders here than want to speak up. I'm not rich but I am making money.

For those of you still demo trading... good for you. That's where I started also. When I graduated to a live account I traded mini-contracts for a long time. Bottomed out my account 4 times before I got over the emotional aspects of trading real money.

Don't give up. There really is money to be made here and If I can learn to do it anyone can.
Quoting thehun
Good point. Finding the right method will take time, and if you are not finding success with it, then it is probably a good idea to have some level of success with your method before you plunk down some real cashola. My point was that once you have found that system, then the REAL learning begins.

(...)

The Hun.
This is exactly what I meant. I'm glad we came to this conclusion from seemingly opposite points of view.

Dane
Quoting great*dane
This is exactly what I meant. I'm glad we came to this conclusion from seemingly opposite points of view.

Dane
Pretty nice discussion Dane, hun, and all you guys..
It has been a long haul to consistant profitability but I think I have finaly arrived, not huge but definetly going in the right direction, I opened my account with the big O about 3 months ago, and finally seem to be gaining some consistancy.....fingers crossed.
Same Whore .... Different Dress
Amazing that Warren Buffet can loose in the currency market too. Just goes to show us all, no matter who you are or how much experience we have, we can all loose in this game
Quoting serj
Amazing that Warren Buffet can loose in the currency market too. Just goes to show us all, no matter who you are or how much experience we have, we can all loose in this game
I would like to amend that statement to read....

"We WILL ALL [occasionally] lose in this Game. The aim is to make sure we DO NOT Lose in the big picture."
I do not know how you did not lose a single $ in forex, even if you are on demo, that is not healthy for you... please teach me how did you do it lol



Hani

Quoting great*dane
My greatest success is that I have been demo trading since March and I resisted temptations to go live. This saved me a lot of money.

I didn't lose a single $ in forex, other than spending money on a few books and james16 private forum membership. Say what you will, I'm actually very proud of this.

Happy trading,

Dane
Quoting thehun
It's easy to go target shooting when the targets don't shoot back at you.....give them a gun, and we'll see who does the running now. It's that simple.
Great line Hun, and so very, very true!
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Quoting hanyyy
I do not know how you did not lose a single $ in forex, even if you are on demo, that is not healthy for you... please teach me how did you do it lol
Hani
I think what he means is as he is only in demo mode he hasn't lost any real trading money.
Hopefully, with what he's learning here he will not lose too much when he does go live

Peter
The title of this thread is success stories. Where are they at? This thread is turning into just discussion again. I'm sure Mike W. will agree with me on this. Is there anyone here that actually doubles their account every month, or is 80%+ accurate? I developed a system that is 80% accurate that I use on my live account. It works for my style of trading but I would love to hear any comments about it from someone that is actually trading a live account and is successful. My system uses pivot points, WMA, and a MACD equation. I will share it at a later time when I have more time.
Quoting Big Pippen
The title of this thread is success stories. Where are they at? This thread is turning into just discussion again. I'm sure Mike W. will agree with me on this. Is there anyone here that actually doubles their account every month, or is 80%+ accurate? I developed a system that is 80% accurate that I use on my live account. It works for my style of trading but I would love to hear any comments about it from someone that is actually trading a live account and is successful. My system uses pivot points, WMA, and a MACD equation. I will share it at a later time when I have more time.
Nice....Im tryin this system now, i guess its a version of vegas or its a lot like it anyways yesterday i made like 50 something pips on it oh yeah haha
I dream, therefore I become.
I started 3 months ago with a small OANDA-account. By trading carefully and cautious (mainly on news-events) I have around 9% profit. If I do the same the rest of the years, I am very happy.
You want to hear about "success sotries", well mini is a preview of one of them....

i´ve started forex just 2 months ago, 15 day with a demo account, and after that, i´ve gone live.

I´m the kind of "impulsive" person, who don´t resist his temptacions... so as obvoius i lose money.... i´ve started with 19 k, and lose in 2 monts 13k....

What i´ve learn from this...

i´ve started to recovery money since i:

A) control my impulses
b) become discipline
C) stick to my plan
D) read a lot
e) read a lot
F) am not afraid of losing money

So, by now you will be looking for the success in this, right?... well, i´ve changed my way of thinking and become more secure, and i can forecast, that in one mont i´ll hva my 19k back + profit.

One of the important things in this busissnes and in life, is fto think you are a winner. I know most of the people lose money in forex, BUT WHY I HAVE TO BE ONE OF THEM?!?!?!?, i want to be on the other side... and thats what a winner mind does... convince yourself you are a winner and you will make whatever you want.
Have a good day and a good trade!
Success stories. That's the name of this thread.


Well, let's see. I've been in this rollercoaster since 1982. Should say that Forex has been good to me. No complaints. Won't talk about dollars and cents because it migth mislead people into something else but I should say that the biggest acomplishment I have is experience.
Peace
Quoting keithf
This is my first post on this forum, so I here it goes. I've been learning forex for about 8 months, and I've been trading live for about the last three months now, mainly with small amounts (mini-lots, or less sometimes).

What I have found is that trading with real money helps me to learn a LOT FASTER! One of my mentors in this business is constantly telling me that "if losses it don't sting a little bit, you don't learn anything." Its not that you don't learn by studying while demo trading, because I did, but I have learned more this past 3 months trading with real money, than the first five months when I was demo trading.

Sometimes I learn by "seeing the light," but it seems with forex, most of the time I have to "feel the heat." That's my two cents....

Keith
I was just reading Keith's response to this thread and I can definitely relate. I think in order to be successful, you do need to take hits along the way in order to learn. I find I learn far more from my losses (with real money) than my winning trades.

My recipe for success thus far has been to...

ONE
Learn a model that works well and study it to death (know how to implement it correctly and know what the pitfalls are).

TWO
Create a simple plan with guidelines and rules and stick to it.
Start integrating discipline and patience into the equation.

THREE
Money/Risk Management.

FOUR
Study this site to death. As weird as this may sound, Stumbling upon this site has accounted for atleast 90% of my success thus far (Thanks to Forex Factory and especially to Vegas and those of the James16 Group!).
To become a professional trader, the key is staying power, you need to be engrossed in the markets for atleast a few years and have periods of weeks to months watching sec per sec price action. Thats how you end up building your mental tool set to handle the markets.

Ask yourself this, when you learned to drive a car, didn't you overreact and get emotional and scared during the learning process. Now when you drive to work, do you even think about it? No, its purely reflexive and subconscious. Thats the level you have to aim for. Do what needs to be done, and don't think about it.

Unfortunately, many do not having staying power, which basically amounts to capital. And when you were learning did you take your dads Ferrari out or his volks? Thats the same thing with learning to trade, start out with small amounts even if you have that spare 100K lying around somewhere.
Price is the only indicator.
Yeah for sure spec, i agree to give yourself 1-2 years to be good. Or however much time it takes yo, its worth it

But don't dawdle ok, I seriously believe that I could put together a course with software and have someone trading profiecntly after 1 week! As long as they were a good student and did what they said.

That's right folks, I believe that! But obviously they would have to stick to one system and it would take along time to be a true traders trader
I keep a close watch on this chart of mine...
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