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Do You Know Any Millionaire or Multimillionaire Forex Traders?

  • #161
  • Sep 17, 2015 5:17pm Sep 17, 2015 5:17pm
Quoting Kahn88
{quote} Hello katrooo, Sorry about asking the question again. I guess it was probably because of a long day I had and the post was at 1 in the morning. Regarding your post, 50 bucks ticket well it could happen in fact it did happen to one of the traders. His trade hit stop but was not executed but it does not happen often. Tell you what, I did see traders with 50 bucks news (NFP) trade and 200 pips stop never had any issue (an example) so my point is, yes you are right it happens but again it depends on your risk management. They seem to have big...
I am finally coming to that view as well. It is all about spotting the right probabilities and good money management. And this site has ample useful pointers.
No reason why we cannot succeed with lots of hard work getting to spot the probabilities.
The road to pipland is arduous and fraught with challenge.
  • #162
  • Sep 17, 2015 5:20pm Sep 17, 2015 5:20pm
Quoting AaronWard
Given that about 4% of the US population has a million, that would mean that 1 in every 25 posters from the US should have a million or more. This is assuming that posters on this financial forum are a perfect representation of the US population. However given that this is a somewhat technical website with a strong focus on finance, I would guess that there is a bias towards more wealth than there is in the general population.
I would say the opposite. Assuming the 4% is correct, I would say the people on this website are the ones not in the 4%, but are those scrambling around trying to make it into the 4% .If you're in the 4% you don't need to be visiting this site.
  • #163
  • Sep 17, 2015 5:25pm Sep 17, 2015 5:25pm
i had a friend .. he started with 2000 $ and end with 200,000 $ but at the end he again loss all his money in forex
  • #164
  • Sep 17, 2015 5:43pm Sep 17, 2015 5:43pm
Quoting TheGreatMilenko
{quote} I would say the opposite. Assuming the 4% is correct, I would say the people on this website are the ones not in the 4%, but are those scrambling around trying to make it into the 4% .If you're in the 4% you don't need to be visiting this site.
Do you base your conclusion on anything? People with money are not less interested in money, they are more and as a general rule the people on this website are very interested in money. Further, forex is not only about investing, there is a large element of gambling disguised as "trading".
Kill the ego, or it will kill the mission.
  • #165
  • Sep 17, 2015 5:49pm Sep 17, 2015 5:49pm
Quoting AaronWard
{quote} Do you base your conclusion on anything? People with money are not less interested in money, they are more and as a general rule the people on this website are very interested in money. Further, forex is not only about investing, there is a large element of gambling disguised as "trading".
Yes I would tend to agree with you. I suppose I based it on my personal feelings, in as much as if I had what I considered to be enough money, I wouldn't be that concerned about getting even more. But that's me. Also, if you have money , forex is one of the most risky ways of investing it. So unless you really know what you're doing.......
  • #166
  • Sep 17, 2015 6:01pm Sep 17, 2015 6:01pm
Yeah. Impossible to say for sure. Why would somebody reveal their bank account on the internet. And if they did, how could you ever verify their claims? Statistically speaking though there should be a few millionaire on this website. I got the 4% from a random internet search. Not the best source, but the actual percentage is not as important as the argument that odds are that there are a few millionaire hanging around.
Kill the ego, or it will kill the mission.
  • #167
  • Sep 17, 2015 6:08pm Sep 17, 2015 6:08pm
Quoting AaronWard
Yeah. Impossible to say for sure. Why would somebody reveal their bank account on the internet. And if they did, how could you ever verify their claims? Statistically speaking though there should be a few millionaire on this website. I got the 4% from a random internet search. Not the best source, but the actual percentage is not as important as the argument that odds are that there are a few millionaire hanging around.
How would we ever know? I just read that 1 in 65 people in the uk is a millionaire....WHAT'S THAT ? ABOUT 1.5 %
  • #168
  • Sep 17, 2015 6:12pm Sep 17, 2015 6:12pm
Quoting TheGreatMilenko
{quote} How would we ever know? I just read that 1 in 65 people in the uk is a millionaire....WHAT'S THAT ? ABOUT 1.5 %
You also have to remember that that is a million pounds, not a million dollars, so a UK millionaire is richer than a US millionaire, and thus somewhat more rare.
Kill the ego, or it will kill the mission.
  • #169
  • Sep 17, 2015 6:14pm Sep 17, 2015 6:14pm
Quoting AaronWard
{quote} You also have to remember that that is a million pounds, not a million dollars, so a UK millionaire is richer than a US millionaire, and thus somewhat more rare.
I knew that you know! :-)
  • #170
  • Sep 17, 2015 10:03pm Sep 17, 2015 10:03pm
I personally don't know who's made that much trading currencies alone but I've known people who's made a comfortable living for themselves from trading currencies. I personally plan on moving to commodities and stocks in the long run.
...
  • #171
  • Edited 3:22am Sep 18, 2015 1:35am | Edited 3:22am
Sure do. A friend and mentor of mine named Peter Armstrong from Forex Nation is a multimillionaire from trading Forex full time.
I actually traded side by side with him for four full weeks this year in his mentoring program.

It took him about ten years of learning and trading until he made his millions.
In one instance he turned $20,000 into $2.2 million from his hospital bed during treatment for a back injury and a lot of it was done by scalping for +10 pips and compounding using the 34 EMA Wave.
That said, he uses very unorthodox trading strategies like inverted risk to reward ratios and scalping (this is how I trade as well). So naturally, some people won't agree with his trading styles and methods but at the end of the day, numbers don't lie!

Just like Big E (eelfranz) I owe a lot to him as he helped me understand a lot about the world of trading.

His blog and website is here: www.petearmstrong.org
  • #172
  • Sep 18, 2015 10:06am Sep 18, 2015 10:06am
Quoting Dimi.A
Sure do. A friend and mentor of mine named Peter Armstrong from Forex Nation is a multimillionaire from trading Forex full time. I actually traded side by side with him for four full weeks this year in his mentoring program. It took him about ten years of learning and trading until he made his millions. In one instance he turned $20,000 into $2.2 million from his hospital bed during treatment for a back injury and a lot of it was done by scalping for +10 pips and compounding using the 34 EMA Wave. That said, he uses very unorthodox trading strategies...
When you watch his little video clip he says 1.2 million, but 2.2 million is written on the web page. He seems to have misplaced a million somewhere. What's he selling by the way?
  • #173
  • Sep 18, 2015 10:17am Sep 18, 2015 10:17am
Just had a look . This multi millionaire wants money off people , monthly or annually, to share his core trading method with them "fusion trade" plus some other shit. What a load of old bollocks.
  • #174
  • Edited 9:59pm Sep 18, 2015 7:26pm | Edited 9:59pm
Quoting TheGreatMilenko
{quote} When you watch his little video clip he says 1.2 million, but 2.2 million is written on the web page. He seems to have misplaced a million somewhere. What's he selling by the way?
He could have made a mistake in wording, not sure. He has a mentoring program starting up which includes education, daily webinars and signal service etc. Like I said, I traded with him back in May this year and I was very happy with what I got out of the four weeks learning and trading with him.

What I like the most is he's very approachable. Most of the things I learnt from him in the past was just through free information and education he would give me when we would chat.

Anyway, I'm not here to try and sell his program but PM me if you have any more questions or want to talk.
  • #175
  • Sep 18, 2015 10:20pm Sep 18, 2015 10:20pm
Quoting traider
{quote} Why not. This forum has some awesome news resources and people on board.
I agree this is one of the better forums , some of the other ones can get a bit messy
Never said I was Batman,all I'm saying is you'll never see us together.
  • #176
  • Sep 19, 2015 9:26pm Sep 19, 2015 9:26pm
Quoting TheGreatMilenko
{quote} Ha ! GOOD ONE!1 As we all should know , markets are random, and I know of a very successful mm fund, ran by ex turtle traders who use 52 week ma as their basis. ( by the way, trends are part of the randomness)
So the millionaire traders I know (they get requested often from tv to do interviews and hedge funds and ex floor traders requests for training) state markets aren't random but YOU say they are! LOL
Never said I was Batman,all I'm saying is you'll never see us together.
  • #177
  • Sep 20, 2015 12:52am Sep 20, 2015 12:52am
Quoting headfake
{quote} So the millionaire traders I know (they get requested often from tv to do interviews and hedge funds and ex floor traders requests for training) state markets aren't random but YOU say they are! LOL

So... who are they ?
  • #178
  • Sep 20, 2015 1:07am Sep 20, 2015 1:07am
Quoting FXKabab
{quote} You see countless of thousands failing because the market is rigged against basic human instincts. .and these thousands failing are the ones who are out there posting for new systems or new ideas etc How many traders here do you think have a trade plan? Probably less than 10% that post here. Then, how many do you think over-trade, revenge-trade, risk too much, add to losers, make their stop losses wider after some drawdown in a trade because they just want to give the trade some more "wiggle room", or adjust their take profits smaller after...
the existence or non existence of long term successful retail forex traders is only theory unless actual data of individuals is analysed (individually)
Anyone who tries to tell you they don't exist is merely expressing an opinion, nothing more.

Don't be fooled into thinking otherwise
Come with me if you want to live....
  • #179
  • Sep 20, 2015 1:13am Sep 20, 2015 1:13am
Quoting Ill-b-back
{quote} the existence or non existence of long term successful retail forex traders is only theory unless actual data of individuals is analysed (individually) Anyone who tries to tell you they don't exist is merely expressing an opinion, nothing more. Don't be fooled into thinking otherwise

In this case, it's clear that it is also only an opinion that they do exist.
It looks like the bottom line is that we don't know if such creature exists ... or not (:
  • #180
  • Sep 20, 2015 1:15am Sep 20, 2015 1:15am
Quoting Mingary
{quote} In this case, it's clear that it is only an opinion that they do exist.
Of course
Come with me if you want to live....
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