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Forex - trade your way to millions

  • #41
  • Jul 4, 2014 1:21pm Jul 4, 2014 1:21pm
Quoting hayseed
{quote} //---- hey pretorian..... it's just a dream for most...... i feel comfortable saying, even without black and white proof, that there have been at least 2 ff members that have made a million trading forex..... and equally important, both still have that million++.... those 2 members still log in occasionally but have not posted in many years...... i wish they would return but clearly understand why they will not..... neither of them used ea's..... i also feel comfortable saying there will soon be 1 more, with black and white proof, who does...
I like the last sentence: "trading to a million is not as easy as most think, while at the same time it is easier than most think". That's the point of that. Lot of people think that they can earn millions in a few days (and they started trading few days ago) and of corse they are wrong, but it is also possible and it is not something unreal. If somebody has done something before, it is possible. If not, you could be the first one (as always somebody must be the first one).
I think you need to grow up in trading, and be sure that you're ready for that.

Quoting Doc_kirbs
{quote} 30-40 years
Too much time. You would need 30-40 years if your target would be 20% a year.

Regards, pretorian1
Aggressive, High Risk, High Gain, High Accuracy
  • #42
  • Jul 4, 2014 8:03pm Jul 4, 2014 8:03pm
First of a, a million is not really a lot. You make a million you not even close. Most funds trade with billions. Im just going to ignore anyone who says anything under 50k to million because you gambler. A million should be good goal for anyone with realistic expectations and a realistic capitalized account. A million is a pretty easy goal to achieve. The harder part is to keep that! Think about that. You start off 100k, hit 500k, you obv going to withdraw at some point thus reducing your profit dramatically. Slowing you down even more.
You wanna make a million in FX? Start out with two million!

20% is my target per year and going to take me way less than 20 years to get there, probably less than 10 yr at the rate im going now. Thing is I like to take losses and not get greedy. Like pacing yourself in marathon.
All posts are my personal opinion
  • #43
  • Jul 6, 2014 5:16pm Jul 6, 2014 5:16pm
Quoting Rtm
First of a, a million is not really a lot. You make a million you not even close. Most funds trade with billions. Im just going to ignore anyone who says anything under 50k to million because you gambler. A million should be good goal for anyone with realistic expectations and a realistic capitalized account. A million is a pretty easy goal to achieve. The harder part is to keep that! Think about that. You start off 100k, hit 500k, you obv going to withdraw at some point thus reducing your profit dramatically. Slowing you down even more. You wanna...
Most people say that if you're trading with high risk example 10-100% of account per trade, you will lose all your money and it is gambling. But it is needed to earn something more in forex market. I prefer start trading high risk on the begin, and then on the right level of equity (when you earn bigger cash), you can slow down and reduce your risk per trade.

Quoting Rtm
You wanna make a million in FX? Start out with two million!
The same as:
- How to become a millionaire ?
- ???
- You must be billionaire and get married.
Aggressive, High Risk, High Gain, High Accuracy
  • #44
  • Jul 6, 2014 7:01pm Jul 6, 2014 7:01pm
I wish it was easy. Money management is the key from everything I've looked at. Here is the bottom line. Can you stomach 3 to 5 days of losses in a row and still stick to your plan? The answer to this is easy. Never have a losing day. That is the impossible task. When you figure this out please let us all know.

I once talked to a guy that reversed and reversed his trade until he was on the right side of the trade. Most people don't have the time to sit in front of the computer for that long everyday without going crazy and doing something to trying to force the market.

If anyone has any good ideas please let us know.

thanks
Ryder950
Back from the dead * ding fries are done *
  • #45
  • Jul 6, 2014 8:23pm Jul 6, 2014 8:23pm
Quoting pretorian1
Is there anyone who has made millions or more by trading forex market ? I mean retailers, not banks, institutions or brokers. Do you think it is possible or it is just a dream ? I think it could be possible but most traders broke their account, when they have to trade a lot of lots; they just can't control their emotions and don't know when to stop and take a break for their brains. Regards, pretorian1

There maybe one person, but even if the person is a millionaire he wouldn't say it to the world....
You seem to focus on other people can do or can't do....

What if I say people can't make millions $ by trading retail forex.Are you going to quit trying?
If I tell you that "the great hedge fund and banks make 25% a year and to them that's "excellent result". Considering many PHD and Master Economic to them it's great result.

While you the "retail people with no PHD knowledge" do you think you can beat the bank, big hedgefund?

Note: just because "there is a possibility doesn't mean that YOU can achieve it".


What if I say that in order get million$ in retail forex you have to "gamble... take lot of risk".... can you do it?..
Will you become homeless if you fail?...
  • #46
  • Jul 7, 2014 2:08pm Jul 7, 2014 2:08pm
Making money trading Forex can be easy if you fall onto the right strategy. A Certain broker had someone deposit £20,000 in his account, and in 6 months turned it into a million, so it's definitely possible, but you just need the right strategy. Obviously people like this (the person who turned 20k into a million), will not want to share their strategy.
  • #47
  • Jul 8, 2014 2:23pm Jul 8, 2014 2:23pm
Quoting pretorian1
{quote} Trading is not easy, but it is not also very hard. If we assume that you have a knowledge, experience, good MM, position management, discipline -> these ones a lot of PROFITABLE traders has got, then why didn't they gain millions ? My argument: Most traders are afraid to trading with high risk and trading bigger amounts (lets say 100 lots+). They like safety and low stress rather than higher risk and bigger stress. But these two last ones are needed to become a millionaire.
If professional trades do follow all of the above and what others have pointed out, they would be making good on "most" of their trades..as for them not being a millionaire yet, well, if they are making good on most of their trades - there's no reason they should not be..unless of course they are happy trading with a mid-sized account or even less..
  • #48
  • Jul 9, 2014 2:40am Jul 9, 2014 2:40am
Quoting katrooo
If you want to make a progress and get closer to your goal of making money trading FX, first of all make sure that you perfectly understand why are currencies moving against each other and what are the drivers affecting the price movement.
Any idea how best to go about it or at least where to start?
The trader IS the holy grail.
  • #49
  • Jul 9, 2014 2:45am Jul 9, 2014 2:45am
Quoting taru
{quote} Any idea how best to go about it or at least where to start?
Study PA..that should answer your query..
  • #50
  • Jul 15, 2014 6:26am Jul 15, 2014 6:26am
http://www.myfxbook.com/members/auto...account/800503

Live account, 2 million dollar account balance. Check it out.
  • #51
  • Jul 15, 2014 11:50am Jul 15, 2014 11:50am
Wow! marcusrider, is that your account. Amazing! Congratulations! A lot of people getting excited I am sure! I have watched some traders on the internet and youtube and they make millions in various markets. How do they do it ? They use other peoples money. If you can trade and make money you trade other peoples money. That way you have plenty of capitol to work with and a better chance to get rich! All you need to know is, How to trade well!
  • #52
  • Jul 19, 2014 11:53pm Jul 19, 2014 11:53pm
Hmm... interesting marcusrider,

First time I actually see 2 million$ account live. Thank you for posting the link so I can analyze safe play.
  • #53
  • Jul 31, 2014 6:37am Jul 31, 2014 6:37am
Quoting hanover
{quote} An EA meets all of your requirements. It can easily be coded to trade simple rules, maintain strict MM, it will stick to the strategy with perfect consistency, and is always in full control of its 'emotions'. Why doesn't EVERY EA make millions? If strategy is unimportant, why don't banks and institutions save themselves millions in salaries by dismissing all of their highly paid analysts, economists, veteran traders, IT gurus and other experts, and simply replace them with such an EA?
Stop wasting effort to explain them hanover,some people just dont get it, some people are just so naive (no offense to anyone) that they think with a simple EMA crossover strategy they can become billionaires.If it were so easy then all people on earth would be traders

And the funny thing is that trading is easy, but only after you know what/why/when, nut just blindly poking in the markets
It's certainly more easy than being a farmer or a miner, but like all professions, this one also has its "requirements"
"There's a sucker born every minute" - P.T. Barnum
  • #54
  • Aug 3, 2014 7:56am Aug 3, 2014 7:56am
Most people say trading is an emotion and stick to your strategy thing... might be.
But 99% of the traders don't have the basic knowledge about the broker and the market
to have even a minimum chance to make money. Trading is a knowledge game and
you first have to know your tools, then the market, then your strategy/emotions thing...
PN me for details.
  • #55
  • Dec 12, 2020 2:57am Dec 12, 2020 2:57am
Forex is the most profitable online business in the world. If you want to become successful in this market you need knowledge and skills.
  • #56
  • Dec 12, 2020 8:49am Dec 12, 2020 8:49am
It is? Do any statistics back that up?
  • #57
  • Dec 12, 2020 11:28pm Dec 12, 2020 11:28pm
Quoting CoraLombard
Forex is the most profitable online business in the world. If you want to become successful in this market you need knowledge and skills.
which is profitable it depends on your approach , unless your habit is good there is no business platform that you can consider as profitable.
  • #58
  • Dec 18, 2020 7:45am Dec 18, 2020 7:45am
Most people think that forex is an easy business. Everybody can earn money from this market. but it is completely wrong. You need skills and knowledge to make money from this market.
  • #59
  • Dec 18, 2020 9:47am Dec 18, 2020 9:47am
I think that while Forex is quite profitable for some people, a lot of traders literally lose millions to shady brokers. That is just part of the industry and no amount of regulation and law enforcement have been able to cut that short. If one goes into trading they should always keep that in mind.
  • #60
  • Dec 19, 2020 5:10am Dec 19, 2020 5:10am
There are many people who earn a lot of money from this market every day. SO, you just need proper knowledge and education to make money from the forex market.
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