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FF "Rags To Riches" Millionaires!

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  • Do Forex Rags To Riches Millionaires Exist
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  • #1
  • First Post: Edited 9:24am Oct 9, 2014 9:04am | Edited 9:24am
Hello Guys, this thread is an introduction to the thread that I will start, bascaly I WILL ATTEMPT TO MAKE A MILLION DOLLARS starting with very little Captal $1k-$10k and I will use the power of compound interest to help me achieve that goal quicker..


OK…. SO MY QUESTION IS, ARE THEY ANY DOLLAR FOREX MILLIONAIRES HERE ON THIS FORUM?????? I think I know a couple, I think the sonic R guy is 1, james16 should be 1, Ronald Raygun is definitely 1, Merlin has to be 1……….. Why I ask this because ive seen FF veterans, guys who have been here since 2005 looking for a system that makes money, like WTF, you’ve been trading for 9years and you still haven’t found anything that works??????? Are you for real???....

I think the key is information, Discipline and COMPOUND INTEREST, obviously MM and an edge… while writing this I remember a couple of years back when I was still a rookie, I managed to ger RR on skype, I have never forgotten what he said to me, I thought it was so profound, I still do, he said “im no longer looking for a profitable system anymore, im looking for a system that will maximize my profits and minimize my risk” I thought that was profoung!! WHY? Because there are sooo many good systems here on FF, systems that work, systems that have been working for years!!! YEARS!!!! And people are still trying to find a profitable system, I THINK PEOPLE ARE JUST LAZY….

MY QUESTION IS, ARE THEY ANY “RAGS TO RICHES” FOREX MILLIONAIRES HERE????
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #2
  • Oct 9, 2014 9:10am Oct 9, 2014 9:10am
MY QUESTION IS, ARE THEY ANY “RAGS TO RICHES” FOREX MILLIONAIRES HERE????

Nope..

And not even "riches to riches" forex millionaires.


That, is the nature of the beast.
  • #3
  • Oct 9, 2014 9:13am Oct 9, 2014 9:13am
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I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #4
  • Oct 9, 2014 9:14am Oct 9, 2014 9:14am
Quoting Mingary
MY QUESTION IS, ARE THEY ANY “RAGS TO RICHES” FOREX MILLIONAIRES HERE???? Nope.. And not even "riches to riches" forex millionaires. That, is the nature of the beast.
your answer cant be correct because I HAVE STATED A FEW MILLIONAIRES.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #5
  • Oct 9, 2014 9:17am Oct 9, 2014 9:17am
Quoting Soros
{quote} your answer cant be correct because I HAVE STATED A FEW MILLIONAIRES.
I was not using the singular for your "singular" question.
  • #6
  • Oct 9, 2014 9:23am Oct 9, 2014 9:23am
If you're not gona make Millions or more from it then whats the point?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #7
  • Oct 9, 2014 9:24am Oct 9, 2014 9:24am
Another wannabee??? This guy claimed he can do it in 1000 days...

http://www.forexfactory.com/showthread.php?t=503952
  • #8
  • Oct 9, 2014 9:30am Oct 9, 2014 9:30am
perception is the different between a Millionaire forex trader and just a regular trader, its what you believe in, its the daily food that you feed your mind with, its what you invest your time in, its your planning and how you execute those plans.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #9
  • Oct 9, 2014 9:40am Oct 9, 2014 9:40am
I think many of the people selling the big dreams work for the brokers - now there's a way to make money. Don't listen to the BS - if you do 20% a year you are a rock star.
Irregular
  • #10
  • Oct 9, 2014 9:50am Oct 9, 2014 9:50am
Quoting bigblue
I think many of the people selling the big dreams work for the brokers - now there's a way to make money. Don't listen to the BS - if you do 20% a year you are a rock star.
im sorry but i highly disagree with you, 20% a year is pathetic in my books, 20% a month sounds better, im not realy interested in people selling stuff, those people are usualy BOZOS.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #11
  • Oct 9, 2014 10:20am Oct 9, 2014 10:20am
Soros I believe in you and I know that it can be possible....just to have very good system.....the problem that I see is that nobody will put here a strategy that will be a star? I know that exist a strategy and also EA that produce a few milion not one...
  • #12
  • Oct 9, 2014 10:52am Oct 9, 2014 10:52am
Quoting Soros
{quote} im sorry but i highly disagree with you, 20% a year is pathetic in my books, 20% a month sounds better, im not realy interested in people selling stuff, those people are usualy BOZOS.
Dude, we need to do 20% per day cos most start with $100
used to be undecided but nowadays can't make my mind up
  • #13
  • Oct 9, 2014 11:10am Oct 9, 2014 11:10am
Quoting ginger
Soros I believe in you and I know that it can be possible....just to have very good system.....the problem that I see is that nobody will put here a strategy that will be a star? I know that exist a strategy and also EA that produce a few milion not one...
Hello Ginger, i recieved your pm, Look out for my thread about my Journey to becoming a dollar Millionaire! i will probably start the journey month end!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #14
  • Oct 10, 2014 4:48am Oct 10, 2014 4:48am
Quoting Soros
Hello Guys, this thread is an introduction to the thread that I will start, bascaly I WILL ATTEMPT TO MAKE A MILLION DOLLARS starting with very little Captal $1k-$10k and I will use the power of compound interest to help me achieve that goal quicker.. OK…. SO MY QUESTION IS, ARE THEY ANY DOLLAR FOREX MILLIONAIRES HERE ON THIS FORUM?????? I think I know a couple, I think the sonic R guy is 1, james16 should be 1, Ronald Raygun is definitely 1, Merlin has to be 1……….. Why I ask this because ive seen FF veterans, guys who have been here since 2005...
WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you? And one question mark is enough.

How can you be sure that any of the stated people are millionaires (in forex)? Have you seen an audited account? A little hint about the internet: 99% is scam and bogus.
However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big? maybe.
Everything you said is correct: you need discipline, money management, compound interest and an edge. However, the edge should be stated first. Without it, you can forget the rest. Which leads me to my next point: there are many systems here on FF, yes, but are they any good? That I leave up to you to research. I personally have backtested a couple of 100 systems here on FF over the years. In the end I had to make my own, because all of these systems here fail to reach the goal of an edge / positive expectancy.
A truly profitable system that will be profitable for decades to come is very rare. Yeah, you can have a system that is a winner one year and a loser the next, but making 100% and then losing a 100% will still make you a net loser.
Doing more than 20% a year with minimum capital volatility each and every year consistently is pretty hard. Steve Cohen, one of the best traders in the world managed a return of 60% (with his hedge fund SAC Capital before fees) over the last 20 years. And what is his edge? Insider Information... barely legal at best, but this is the best example that even if you have all the information in the world you are still only gonna return 60% on average over years.
So if you want to make it really big, forget these 10 - 20% a month. Not even the really big guys with all the information that we could never ever access can average these kind of returns in the long run.

cheers
  • #15
  • Oct 10, 2014 8:37am Oct 10, 2014 8:37am
Quoting Custos
{quote} WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you? And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex)? Have you seen an audited account? A little hint about the internet: 99% is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big? maybe. Everything you said...


Truth in these words.
Agree with all of the above.
Most people come into the markets with delusions of get rich quick strategies.
The reality of consistently profitable trading is far less glamorous .
There are no "set and forget" EA's that will turn your $5k account into $1m in 3 years. There are no shortcuts. Profitable trading is a game of patience and realistic targets.
It is possible to make 20% monthly....however the average gain across years will likely be far away from this dream. The most successful fund managers in the world do not gain this amount consistently. They have access to the highest quality PHD graduates in economics, statistical analysis and many other disciplines. The best minds money can buy...literally! They are then trained and nurtured for years in the ways of the markets...with all the advantages of the "inside" track. Do you or I have access to such quality personnel? Is it then likely that we will make 10/20 times annually what they can make, given their "insider" advantages as stated by Custos?

I doubt it..
So, what to do?
I agree with you (Soros) on one point...people are lazy. Most who come to forums are looking for the grail system. Someone who has done the work for them. No such system exists. I too have tested many systems from this and other forums.
Is it strange that not one has lived up to my expectations? Or their purported results?
Not really.
A lucrative idea in one persons hands can be a disaster in another.

It's clear that mechanical execution of "traditional" strategies don't work.
No matter how many EMA cross/MACD divergence/RSI/CCI/Fibonacci systems we see, the reality of their execution falls well short of targets. More often than not, they are losing systems.
They lack the "edge" so often thrown around on these forums.
The markets are random. Trading is metagaming. This does not mean that you cannot win, but you need to understand all the players in the game....their role and function. The way the market behaves according to their interaction. Once you truly understand these things, then you can learn to position yourself in the game so as not to be "played."

Most people follow the herd..the consensus of trading. And statistically most people lose money in Forex.
If you want to be successful...profitable...then you have to be different.
The people you believe to be Forex made millionaires....?the truth is you have no idea...and really their success or failure shouldn't be a concern to you. Focus on your own success. Your own growth...in capital and experience. Not one dollar made or lost in their accounts will benefit yours.

I wish you luck on your journey...but i fear you will become disheartened very quickly with the mindset displayed by your posts.
My advice is; set more realistic targets. You will not be a millionaire in 5 years. This is not a sign of failure. Increase your capital consistently over the next 5 years....this is a sign of success.
Focus on high probability trading. Focus on your own account growth.
Trading is a profession...a full time job. Pay it the respect it deserves and you can be profitable.
I wish you well.
Wealth comes from what you keep, not what you earn
  • #16
  • Oct 10, 2014 8:46am Oct 10, 2014 8:46am
those want to make others believe, what even they dont......

Quoting Custos
{quote} WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you? And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex)? Have you seen an audited account? A little hint about the internet: 99% is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big? maybe. Everything...
My Best Trade is Next Trade!
  • #17
  • Oct 11, 2014 7:17am Oct 11, 2014 7:17am
it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it.

many things were thought to be impossible and not logical, it took men like me to prove those things wrong.... from sports to science to inovation, men have proved that nothing is impossible to the determined man! yes i may loose a few battles but i will win the war! i will even go further to say i will have $10million in my forex acc in 3 years max **I know many people will be very angry with what i have just said because they have failed in they journey and have said its impossible**
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #18
  • Oct 11, 2014 7:45am Oct 11, 2014 7:45am
go soros get ur target, and i ll follow behind u.
3Some Candle TacticaL
  • #19
  • Oct 11, 2014 8:32am Oct 11, 2014 8:32am
Quoting Soros
it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it. many things were thought to be impossible and not logical, it took men like me to prove those things wrong.... from sports to science to inovation, men have proved that nothing is impossible to the determined man!...
great man, if you have all the proof then do it. However, due to lack of further information about your strategy I believe you will be like the thousands of other forex traders who claimed such things and have come and gone. Maybe they are now all living a happy life at the beach...but I highly doubt it.
And man, don't get so emotional, this is just trading. Putting trading on the same steps as science or innovation is ridiculous at best, and please why is everybody coming with these war and battle metaphors, this is getting really old. Just do what you plan to do and see how it works out. Hopefully in 3 years you can come back and tell us about your success story.

Well and what I don't know is from where you want to start. 1000$ or 100 million$ or any other amount? If you plan on getting from 100 million $ to 10 million $, then I believe you have a viable plan and that this scenario will for sure work out in no time. If you want to start at a 1000$ and get up to 10 million$ in 3 years then the best of luck to you, you probably will need it. But from your writing style I guess you are still quite young and have plenty of time to come to the 10 million $ eventually, so just give it some time...
  • #20
  • Oct 11, 2014 10:33am Oct 11, 2014 10:33am
Quoting Custos
{quote} WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you? And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex)? Have you seen an audited account? A little hint about the internet: 99% is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big? maybe. Everything you said...
Doing @ %20 year ? ?? Lol

%12 monthly is picking cherry.
Neural Network Algorithm and Econophysics
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