Do You Know Any Millionaire or Multimillionaire Forex Traders? | Forex Factory

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Do You Know Any Millionaire or Multimillionaire Forex Traders?

  • #1
  • First Post: Sep 9, 2015 3:20am Sep 9, 2015 3:20am
Hi Folks.

Do you know any millionaire or multimillionaire forex trader in person?

Seems so hard to find one...

Thanks in advance,
MrJinks.
  • #2
  • Sep 9, 2015 3:34am Sep 9, 2015 3:34am
Knowing a millionaire trader won't make you a better trader.

Quoting mrjinks
Seems so hard to find one...
Keep your energy improving your trading ... It will worth 1,000 times more than trying to find a millionaire.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Sep 9, 2015 3:40am Sep 9, 2015 3:40am
Quoting FerruFx
Knowing a millionaire trader won't make you a better trader. {quote} Keep your energy improving your trading ... It will worth 1,000 times more than trying to find a millionaire.
Agreed,
i dont know any millionaires, but i'm sure there are people that is living from trading forex,or at least make money from it
"Risk comes from not knowing what you're doing"
  • #4
  • Sep 9, 2015 3:43am Sep 9, 2015 3:43am
i don't either but ... hi FerruFx
  • #5
  • Sep 9, 2015 4:39am Sep 9, 2015 4:39am
Quoting mrjinks
Hi Folks. Do you know any millionaire or multimillionaire forex trader in person? Seems so hard to find one... Thanks in advance, MrJinks.
yes, they don't hang around forums though, too much negativity, they don't use ma's and don't think markets are random either
Never said I was Batman,all I'm saying is you'll never see us together.
  • #6
  • Sep 9, 2015 4:49am Sep 9, 2015 4:49am
i met a guy who takes 10 grand from ten people and uses it over the course of a year for a return 50% COMISSION, he lost alot of his own money before he got good and was able to trade for others, and if he looses their money well its gone, thats why its 10 from 10 rather then 100 from 1 i guess. and i have to say he was a different breed of person, real disconnected from the world. But for the time he was making 1800% returns he was doing 20% return trades and had a 10% stop loss if i can remember, but I knew another guy made money for a while then lost it all. So in the end how do you know, i think you need a code and invest what you can mentally deal with.
  • #7
  • Sep 9, 2015 5:22am Sep 9, 2015 5:22am
Quoting mrjinks
Hi Folks. Do you know any millionaire or multimillionaire forex trader in person? Seems so hard to find one... Thanks in advance, MrJinks.
Question is, what currency millionaire? It's not to hard to make millions in Belarusian ruble 1USD= 17660 BYR
  • #8
  • Sep 9, 2015 5:51am Sep 9, 2015 5:51am
In person? No not really. But I have spoken on email to Jim Rogers who is a Billionaire trader a few times. I also worked at IG (CFD broker) where we had a massive client come on board. He used to run a hedge fund in Canada, left and just traded for himself and opened an account with at one stage $25million. I saw him lose millions being long the Facebook IPO but also saw him make lots of money in other market trades. I also have contact with an American fx/commodity/share trader who is worth millions.

Why do you ask?
  • #9
  • Sep 9, 2015 5:58am Sep 9, 2015 5:58am
I never met anybody in 12+ years. Also keep in mind that from a pure mathematical perspective it is unlikely that you win that much money because the mathematical odds are against you.

At the end, you can study charts, read fx news, or even use EA's for days and weeks and months. That all is nonsense, because at the end the math is always against you no matter what you do
Forex is a losers game.
  • #10
  • Sep 9, 2015 6:00am Sep 9, 2015 6:00am
Quoting OZTrader22
In person? No not really. But I have spoken on email to Jim Rogers who is a Billionaire trader a few times. I also worked at IG (CFD broker) where we had a massive client come on board. He used to run a hedge fund in Canada, left and just traded for himself and opened an account with at one stage $25million. I saw him lose millions being long the Facebook IPO but also saw him make lots of money in other market trades. I also have contact with an American fx/commodity/share trader who is worth millions. Why do you ask?
Hi, Mr. OzTrader22.

Thank you very much for your information.

I was wondering how hard is to find a real trader who became millionaire or multimillionaire with FX markets since this market is subject to lots of manipulation (and lack of regulations). What I mean is, most (market maker) brokers will start to play dirty games when they realize you are on your way to healthy and steady profits.

Thank you all the FF members for your answers. It's very warming to see such cooperative people like you.

MrJinks.
  • #11
  • Sep 9, 2015 6:10am Sep 9, 2015 6:10am
Quoting evilmeatball
... but ... hi FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #12
  • Sep 9, 2015 6:16am Sep 9, 2015 6:16am
Quoting mrjinks
Hi Folks. Do you know any millionaire or multimillionaire forex trader in person? Seems so hard to find one... Thanks in advance, MrJinks.
Don't bother to look. They don't exist.
(or they exist for a while ... until all the money runs out)
  • #13
  • Sep 9, 2015 6:38am Sep 9, 2015 6:38am
Ladies/gents, you now know a millionaire trader.

http://www.fxblue.com/users/quantsagefxalpha

There are multiple accounts with similar results to the one above.

It is possible. You can trade with consistent profitability.
Jud
  • #14
  • Sep 9, 2015 6:38am Sep 9, 2015 6:38am
Did Warren Buffett trades Forex ? If so he is the Millionaire.
  • #15
  • Sep 9, 2015 6:53am Sep 9, 2015 6:53am
This really is not the place to be asking

Retail trading is a lonely business, so it's unlikely you ever meet other traders even more so millionaires.

I am sure they exist though.
  • #16
  • Sep 9, 2015 7:04am Sep 9, 2015 7:04am
Quoting trader121
I never met anybody in 12+ years. Also keep in mind that from a pure mathematical perspective it is unlikely that you win that much money because the mathematical odds are against you. At the end, you can study charts, read fx news, or even use EA's for days and weeks and months. That all is nonsense, because at the end the math is always against you no matter what you do
The same odds were against George Soros, Ed Seykota, Richard dennis, Larry Williams, Bruce Kovner...etc yet they managed to make millions or even billions...Don't just focus on the negative side of things...Yes, we know that the odds are not in our favor...But your job as a trader is to wait for the time when it's on your side then play it...You don't have to trade all the time...Do you know what's the average win rate for most professionals? It ranges from 35%-60% max...And 60% is considered a holy grail in trading and hard to maintain...Most consistent professionals are within the 35%-45% range...The trick is they never lose too much money on their losing trades, so they're saving their money for the good trades...In other words, they always let their profits run and cut their losses fast and keep it small.
Simplicity is the key to brilliance.
  • #17
  • Sep 9, 2015 7:06am Sep 9, 2015 7:06am
Quoting Inceptionist
{quote} The same odds were against George Soros, Ed Seykota, Richard dennis, Larry Williams, Bruce Kovner..
Those are Investors, not traders, that is a completely different thing. It IS possible to become a millionaire with investing, there are examples like Warren Buffet. However, we are talking about trading here, not investing since 99% of the members on this site are traders not investors
Forex is a losers game.
  • #18
  • Sep 9, 2015 7:11am Sep 9, 2015 7:11am
Quoting trader121
{quote} Those are Investors, not traders, that is a completely different thing. It IS possible to become a millionaire with investing, there are examples like Warren Buffet. However, we are talking about trading here, not investing since 99% of the members on this site are traders not investors
Population zero (:
  • #19
  • Sep 9, 2015 7:15am Sep 9, 2015 7:15am
I know a millionare forex trader, but he used to be a billionare before he started!
... another pointless day where I accomplish nothing.
  • #20
  • Sep 9, 2015 7:19am Sep 9, 2015 7:19am
Quoting mrjinks
Do you know any millionaire or multimillionaire forex trader in person?
If skype counts as "in person", then I know at least two (they are based in the UK and I live in NZ). One of them trades a small part of my investment portfolio.

I also know two other millionaires who trade occasionally, but forex is not their primary source of income.
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