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Do You Know Any Millionaire or Multimillionaire Forex Traders?

  • #181
  • Sep 20, 2015 1:23am Sep 20, 2015 1:23am
Quoting Mingary
{quote} 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 (:
precisely
Come with me if you want to live....
  • #182
  • Sep 20, 2015 1:30am Sep 20, 2015 1:30am
It's a bit like shuffling a full deck of cards.

Because there are 52 cards in a full deck, the number of possible card combinations after shuffling is so enormous, it has been suggested that throughout the history of the world, no card combination after shuffling has ever been repeated. Hence, the card combination after you shuffle your next deck of cards is likely to have never been seen before.

Yet not "impossible"

Not really the same as trading I agree, but odds can be beaten, particularly when a traders skill is thrown into the mix, rather than something as completely random and out of our control as a fair deck shuffle.
Come with me if you want to live....
  • #183
  • Sep 20, 2015 2:05am Sep 20, 2015 2:05am
Yes. John Key. Prime Minister of New Zealand.
Phenomenal Return This Year: na
  • #184
  • Sep 20, 2015 2:20am Sep 20, 2015 2:20am
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
Ive heard the same as well but of course thats not what we see so I think its probably a load of bull. The game is one of probabilities and MM.
The road to pipland is arduous and fraught with challenge.
  • #185
  • Sep 20, 2015 3:42am Sep 20, 2015 3:42am
Quoting traider
{quote} Ive heard the same as well but of course thats not what we see so I think its probably a load of bull. The game is one of probabilities and MM.
I agree it is for most, depends on how far down the rabbit hole you want to go
Never said I was Batman,all I'm saying is you'll never see us together.
  • #186
  • Sep 20, 2015 3:44am Sep 20, 2015 3:44am
Quoting Mingary
{quote} So... who are they ?
I won't be giving you the names of no one
Never said I was Batman,all I'm saying is you'll never see us together.
  • #187
  • Sep 20, 2015 4:13am Sep 20, 2015 4:13am
Quoting traider
{quote} Ive heard the same as well but of course thats not what we see so I think its probably a load of bull. The game is one of probabilities and MM.
I've seen one of these guys in action, it would blow your mind what they talk about and it aint ma's lol , the understanding of price action and order flow is crazy,no wonder they don't turn up here , you cant do this you cant do that, the market loves Mingary types, but heres a clue for you, understand volume and theres way more to it than just buying and selling volume, also what fuels moves is it pro's or retail I could go on and on but this will be my last post here ciao
Never said I was Batman,all I'm saying is you'll never see us together.
  • #188
  • Sep 20, 2015 4:28am Sep 20, 2015 4:28am
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...
another guy selling courses, mentoring and systems. Why isn't he just trading for himself if he is so good?

looks like he is very "disciplined" as well: http://www.myfxbook.com/members/Pete...strong/1284068

his risk management skills must be very poor, the key is smoothing the drawdown periods by taking less risk, not more hoping for a big winner.

"losers average losers"
  • #189
  • Sep 20, 2015 4:43am Sep 20, 2015 4:43am
Off course there are millionaire and multi-millionaire traders. $5.3 trillion dollars a day is traded in the foreign exchange market.
No one of them is going to open a thread on forexfactory to tell that they have made a million. Because they invest their time in analyzing the markets and not in opening threads on FF.

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  • #190
  • Sep 20, 2015 4:46am Sep 20, 2015 4:46am
Quoting Pipsalon
....Because they invest their time in analyzing the markets and not in opening threads on FF.
We err, and err, and err again, but less.
  • #191
  • Sep 20, 2015 6:47am Sep 20, 2015 6:47am
Quoting headfake
{quote} I won't be giving you the names of no one
The double negative not withstanding ...
You have no name to give because "no one" is the name ?
  • #192
  • Sep 20, 2015 6:48am Sep 20, 2015 6:48am
Quoting Pipsalon
Off course there are millionaire and multi-millionaire traders. $5.3 trillion dollars a day is traded in the foreign exchange market. No one of them is going to open a thread on forexfactory to tell that they have made a million. Because they invest their time in analyzing the markets and not in opening threads on FF. https://www.youtube.com/watch?v=vyOulC3hxfM
... only about 150 million a day in spot retail ... very very thin.
5.3 trillion in total for commercial transactions- not trading.
Forex is very very small (about the size of the soybean market)
  • #193
  • Sep 20, 2015 6:52am Sep 20, 2015 6:52am
Quoting Mingary
{quote} ... only about 150 million a day in spot retail ... very very thin.
Very good point. The retail flow of the whole FX market is just about 3-4% of the whole daily FX Flow.

About 96% is NOT retail order flow. That's why it is always funny to read Storys about stop-hunting or "the market went against my position". The retail sector is so small, nobody cares about them
Forex is a losers game.
  • #194
  • Sep 20, 2015 6:58am Sep 20, 2015 6:58am
Quoting Dimi.A
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...
oh my ... just like this guy ... looks legit

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  • #195
  • Sep 20, 2015 8:01am Sep 20, 2015 8:01am
Are you sure?
Or Just your opinion?



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
  • #196
  • Sep 20, 2015 9:29am Sep 20, 2015 9:29am
Quoting Mingary
{quote} ... only about 150 million a day in spot retail ... very very thin. 5.3 trillion in total for commercial transactions- not trading. Forex is very very small (about the size of the soybean market)
90% of this volume is generated by currency speculators.
  • #197
  • Sep 20, 2015 9:32am Sep 20, 2015 9:32am
Paul Tudor Jones trades forex, but he is a billionaire.. worth $14+ billion dollars. Does he qualify? Also Warren Buffet trades forex.
  • #198
  • Sep 20, 2015 11:01am Sep 20, 2015 11:01am
Many millionaires/billionaires are members of Forex Factory, to name a few:

TudorJonesJR
Tudorjones
Georgebush
KingHussain

10$ to 1 million
Tim's £500 marathon. Goal £1 million
From 10k to 1 million...
From 1k to 1 million
Make a million dollars in a 365 days or less
  • #199
  • Sep 20, 2015 11:08am Sep 20, 2015 11:08am
From what i understand, Most traders graduate to futures.
  • #200
  • Sep 20, 2015 12:05pm Sep 20, 2015 12:05pm
Quoting antonsatu
Are you sure? Or Just your opinion? {quote}

It's not just my opinion. Read this:

https://en.wikipedia.org/wiki/Foreign_exchange_fraud

Read the section "Not beating the market"
Forex is a losers game.
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