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Do You Know Any Millionaire or Multimillionaire Forex Traders?

  • #21
  • Sep 9, 2015 7:21am Sep 9, 2015 7:21am
I know one very very well.
He will be one in the near future! ;-)
  • #22
  • Sep 9, 2015 7:24am Sep 9, 2015 7:24am
....hmm does a shark get friendly with sardines ? sure at dinner table....yes there are traders who are making millions from trading, but they don't bother here.
  • #23
  • Sep 9, 2015 7:24am Sep 9, 2015 7:24am
http://www.timeslive.co.za/local/201...ares-his-story
  • #24
  • Sep 9, 2015 7:31am Sep 9, 2015 7:31am
Quoting Mingary
{quote} Don't bother to look. They don't exist. (or they exist for a while ... until all the money runs out)
Lol... Hey Ming, I would pay money to read your posts ...
Memories caught in time but never forgotten
  • #25
  • Sep 9, 2015 7:33am Sep 9, 2015 7:33am
Quoting hanover
{quote} 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.
I think forex is the hardest thing to trade, it is is just so darn accessible though, whereas other mediums, futures and stock options require a much larger starting cap.
  • #26
  • Sep 9, 2015 7:35am Sep 9, 2015 7:35am
I know someone who trades with $500,000 account and have been trading for last 6 years, so must have made millions as per his life style. But he doesn't trade currencies, he trades futures.
  • #27
  • Sep 9, 2015 7:44am Sep 9, 2015 7:44am
I know a guy who managed several million euros, until he lost it all.
I also saw a myfxbook link here from a trader at Varengold with a 65 million balance, unfortunately he was in a over 70% draw down.
  • #28
  • Sep 9, 2015 7:46am Sep 9, 2015 7:46am
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
Ed Seykota, Richard Dennis and Larry Williams are successful traders...Ed Seykota was using a trend following approach, Richard Dennis was using a simple trend following strategy...

"Larry Williams won the 1987 World Cup Championship of Futures Trading from the Robbins Trading Company, where he turned $10,000 to over $1,100,000 (10,900%) in a 12-month competition with real money." Source: Wikipedia

I might agree with you about Soros and Kovner as investors, but Williams, Dennis and Seykota were never investors and they were traders like many of us. Regards.

Have you seen an investor earning 10,900% in one year before ?
Simplicity is the key to brilliance.
  • #29
  • Sep 9, 2015 8:05am Sep 9, 2015 8:05am
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.
Your point?
  • #30
  • Sep 9, 2015 8:09am Sep 9, 2015 8:09am
Quoting Atokys
{quote} Your point?
That's the question !
MT4/MT5 EAs/Indicators/Alerts coder
  • #31
  • Sep 9, 2015 8:13am Sep 9, 2015 8:13am
Quoting FerruFx
{quote} That's the question !
I mean, I know someone with a million dollar net worth who happens to trade once in awhile. Whats the point of knowing that someone over the internet knows such a person?
  • #32
  • Sep 9, 2015 8:14am Sep 9, 2015 8:14am
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.
Just to answer your question :

Yes , I know many profitable traders, some more , some less .

But a good hand full of them are what you´re looking for !
But it´s less the money , they have on the accounts, it´s more this " Skill " ,
they could start with 10.000$ again , and in 2 years or so they were again over the million .

I saw in another thread anywhere :
From that moment you do it only for money, from that moment you have lost !

And I can say , must be truth , from that moment I liked the trading by itself , from that moment i produced more green than red pips ..
It´s like everywhere in a life.
Like what you do and you like what you do
Guido
Risiko birgt immer auch die Chance.
  • #33
  • Sep 9, 2015 8:16am Sep 9, 2015 8:16am
Quoting Atokys
{quote} Your point?
Hello, Mr. Atokys.

Thank you very much for your question.

As I previously explianed to Mr. OZTrader22 (who asked the same question), I was wondering how hard is to know a trader in person that really has found his way to make millions or multimillions in this market.

Looks like it is easier to "make it" trading another market that is regulated and does not carry any type of conflict of interest because of the central clearing (like futures or stocks).

Please, correct me if I am wrong, these are just my impressions...

MrJinks.
  • #34
  • Sep 9, 2015 8:22am Sep 9, 2015 8:22am
Quoting mrjinks
{quote} Hello, Mr. Atokys. Thank you very much for your question. As I previously explianed to Mr. OZTrader22 (who asked the same question), I was wondering how hard is to know a trader in person that really has found his way to make millions or multimillions in this market. Looks like it is easier to "make it" trading another market that is regulated and does not carry any type of conflict of interest because of the central clearing (like futures or stocks). Please, correct me if I am wrong, these are just my impressions... MrJinks.
I am not sure what material difference regulated over non-regulated makes. Prices move the same way and regulation is of zero relevance there. Regulation addresses totally different areas of the marketplaces.
  • #35
  • Edited 8:36am Sep 9, 2015 8:22am | Edited 8:36am
Quoting mrjinks
{quote} Hello, Mr. Atokys. Thank you very much for your question. As I previously explianed to Mr. OZTrader22 (who asked the same question), I was wondering how hard is to know a trader in person that really has found his way to make millions or multimillions in this market.
Probably very hard because people rarely make personal information public without a good reason.
Quote
Looks like it is easier to "make it" trading another market that is regulated and does not carry any type of conflict of interest because of the central clearing (like futures or stocks). Please, correct me if I am wrong, these are just my impressions... MrJinks.
What do you mean by "easier to make it"?

*EDIT*

I would also like to point out that if your goal involves becoming a millionaire you're better off making money some other way then trade only when you have built up a substantial capital base from which you can reasonably expect to grow to a million. Past performance is never an indicator of future performance, people like Seykota, Richard Dennis etc. made it big because they were there to catch the trends of their lives.
  • #36
  • Sep 9, 2015 9:25am Sep 9, 2015 9:25am
Quoting getn5
....hmm does a shark get friendly with sardines ?
Hehehehehehehehe ... That's the real question !
Don't swim with the sharks ...
  • #37
  • Sep 9, 2015 9:39am Sep 9, 2015 9:39am
Quoting mrjinks
Do you know any millionaire or multimillionaire forex trader in person?

I've met quite a few, actually, over the years, just because someone in my family does this for a living, including previous periods of working at a hedge-fund and a couple of other financial institutions. Most of the "home-based" ones I've met were former institutional traders who had "retired" (often very young) and were just trading their own accounts, privately, sometimes also with some additional privately-raised capital investment.


Quoting mrjinks
Seems so hard to find one...

It is, I think. Because each of the two main groups of hugely successfully ones are comparatively difficult to meet, without being in the trade oneself or regularly mixing with people who are.

One or two of the opinions offered above, needless to say, to the effect that "one doesn't meet them because there aren't any", are entirely mistaken.
  • #38
  • Sep 9, 2015 9:42am Sep 9, 2015 9:42am
I know more than a handful but mostly from sports betting. From those, I know that at least 3 have earned big with forex.
The reason they are so hard to "find" is because they do not talk about it unless you´re real close friends with them. Those who win, keep quiet; those who lose, make noise. Has always been like this.
  • #39
  • Sep 9, 2015 9:53am Sep 9, 2015 9:53am
Quoting Xela
{quote} I've met quite a few, actually, over the years, just because someo ....... additional privately-raised capital investment. {quote} It is, I think. Because each of the two main groups of hugely successfully ones are comparatively difficult to meet, without being in the trade oneself or regularly mixing with people who are. One or two of the opinions offered above, needless to say, to the effect that "one doesn't meet them because there aren't any", are entirely mistaken.
No need to meet any.
Logic alone will tell you they don't exist "long term with consistent results"
  • #40
  • Sep 9, 2015 9:55am Sep 9, 2015 9:55am
Quoting Mingary
{quote} No need to meet any. Logic alone will tell you they don't exist "long term"
Logic tells me that they can and do exist into perpetuity.

*EDIT*

Quote
"long term with consistent results"
Of course, that is the nature of trading; To have results that are not centered around a mean but skewed to the positive side.
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