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Do You Know Any Millionaire or Multimillionaire Forex Traders?

  • #201
  • Sep 20, 2015 12:23pm Sep 20, 2015 12:23pm
Quoting Ken A
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...
... I like you sense of humor

You are forgetting DancingPhil
  • #202
  • Sep 20, 2015 2:28pm Sep 20, 2015 2:28pm
yes, i know one...
he finished high-school and comes from an obscure village.
he used to work a stupid job.

he is extremely good.
he is buying a property on the island of Mauritius.

i finished a university and i cannot measure up to him.
he is natural...
  • #203
  • Sep 20, 2015 3:46pm Sep 20, 2015 3:46pm
If someone was a millionaire, why would they ever want to go on a forum to brag about it anyway?! That would have to be the stupidest millionaire person ever!

Pretty much the equivalent to posting on reddit that you have 10kg of gold sitting in your bedroom!!! LOL you just asking to get hacked robbed!!
All posts are my personal opinion
  • #204
  • Sep 20, 2015 3:54pm Sep 20, 2015 3:54pm
Quoting Mingary
{quote} ... only about 150 million a day in spot retail ... very very thin. Forex is very very small (about the size of the soybean market)
Are you very sure about this? 150 Million daily in retail? Billions yes... Look at Japan retail sector alone....
  • #205
  • Sep 20, 2015 4:30pm Sep 20, 2015 4:30pm
Quoting FlashCall
{quote} Are you very sure about this? 150 Million daily in retail? Billions yes... Look at Japan retail sector alone....
Yes it's $185 billion retail flow, which is just 3.5% of the daily $5.3 trillion traded in FX.

And from that $185billion, just $78 billion is Spot trading. The rest FX Swap trading.

As Mingary said, it's a very small market
Forex is a losers game.
  • #206
  • Sep 20, 2015 4:39pm Sep 20, 2015 4:39pm
I know a few but they rather not look at it as such perspective,
If you have heard of Big E of TMS and followed his post before he became late, you would understand that he has made such achievement.
And also favorite blocked on this forum a while ago because of some trolls doubting is abilities and many few others.
Its basically able to manage your trades and read opportunities as they come, trade fx as a business not gambling or a quick reach scheme, and i'm certain that the market would readily bid to your desires.


Regards,
Festus.
Motivation is what gets you started. Habit is what keeps you going
  • #207
  • Edited 4:59pm Sep 20, 2015 4:46pm | Edited 4:59pm
Quoting trader121
{quote} Yes it's $185 billion retail flow, which is just 3.5% of the daily $5.3 trillion traded in FX. And from that $185billion, just $78 billion is Spot trading. The rest FX Swap trading. As Mingary said, it's a very small market
FX Swap trading in retail...where and how? 185 billion in retail spot is the about the right figure, 78b daily avg in spot retail only isnt. Unless im missing something.

Also the figure is probably (bit) more as a lot of flow is isolated from the market as well.
  • #208
  • Sep 20, 2015 6:34pm Sep 20, 2015 6:34pm
This sounds similar to me to the question if intelligent ET life exists. In theory, it should, just like millionaire forex traders should exist. In practice though, I haven't met one (not even online), and I haven't met an ET either.
The worst thing I can be is the same as everybody else. I hate that.
  • #209
  • Sep 20, 2015 6:55pm Sep 20, 2015 6:55pm
I do not know the future, am I will be "this kind question person on this thread". what I know is now I can pay lot of things from withdrawal the profit from my account.. just always learn, flowing, dancing, formless no rigidity always precaution and follow the cardinal rule (1. preservation capital 2. preservation capital 3. do not forget rule 1&2)
we don't predict, we only ride
  • #210
  • Sep 20, 2015 8:18pm Sep 20, 2015 8:18pm
i really answered the main question ,me in my own i have assets that can reach half a million or quarter yes it is not liquidated but do i need that i dont think so ,so i trade small and i know many that looks for joy ,profit and adventures in this market ,better just to preserve your capitial as my fellow said
all have a nice day
focus while relaxed to see better
  • #211
  • Sep 20, 2015 11:04pm Sep 20, 2015 11:04pm
Yes, I know about TWO who are doing great. They are increasing their money by rate of 20% each month and doing it successfully.
Read, Read, Read, Read..................
  • #212
  • Sep 20, 2015 11:50pm Sep 20, 2015 11:50pm
Quoting fxbkm
Yes, I know about TWO who are doing great. They are increasing their money by rate of 20% each month and doing it successfully.
​
Great so great good luck
have a nice day please
focus while relaxed to see better
  • #213
  • Sep 21, 2015 12:32am Sep 21, 2015 12:32am
there was one south african...sadly found to be a scammer

http://www.destinyman.com/2015/09/09...-plagiarising/
practising coitus interruptus
  • #214
  • Sep 21, 2015 1:27am Sep 21, 2015 1:27am
Quoting FlashCall
{quote} Are you very sure about this? 150 Million daily in retail? Billions yes... Look at Japan retail sector alone....
My mistake. Billion not million.
Cheers
  • #215
  • Sep 21, 2015 1:31am Sep 21, 2015 1:31am
Quoting avibe
there was one south african...sadly found to be a scammer http://www.destinyman.com/2015/09/09...-plagiarising/
​
scams can appear in any field ,it is so sad and bad to scam your way in life i posted my real equity i am trading ,i am a system developer not a trader
i give my systems for free ,i also help traders i have many enemies but i have powerfull friends and one of them is my honesty which some real scams dont like
all have a nice day
focus while relaxed to see better
  • #216
  • Edited 6:20pm Sep 21, 2015 5:53pm | Edited 6:20pm
Quoting Mingary
{quote} My mistake. Billion not million. Cheers

I truly believe that you just replied one in the above quote though I doubt that he will provide you with any proof of MY claim of HIS status.

I have met two millionaire traders here on forex factory. And they provided me sufficient proof of their networth. However my interactions with them led me to conclude the the average independent opinionated self-taught retail trader (the typical forex factory member), lacks the strategies, seed capital and risk management structure to develop and deploy the quality of Research and Analysis, Trade Execution as well as Risk Management required to sustainably compound their trading profits into millions.

I have come to the conclusion that it is way faster and easier to become a millionaire trader if one can locate and convince an actual millionaire trader to show him how to replicate the performance. One of the hardest things to do is to locate an actual millionaire trader. The second hardest thing is to how to incentivize the millionaire trader to mentor you. The second millionaire trader I met here on FF made 75k in one trade on his 2.6m account. How much can you pay such a person to show you his recipe? Lol. If they will mentor you, it will be because they are bored or they just happen to like you.

PS: The other 3 millionaire traders I know I met on Instagram and LinkedIn. There was no need asking them for proof. 2 guys and 1 lady. They were completely unrelated but I noticed a few things common to all 3 of them. They were always travelling, I mean literally every other week, they would be in a different tourist location. They rarely put up trading charts, but put up lifestyle pictures that confirmed their millionaire status. And they all collected luxury items like expensive artpieces, swiss horology, vintage cars etc. I mean, when you see a trader with 25 different authentic swiss timepieces, Chopard, AP, Hublot, Ulysses Nardin, Franck Muller etc, and encrusted, travelling first class or private jet with their entire family members etc, then they must be very affluent. And they were not selling courses, lol.
  • #217
  • Sep 21, 2015 6:44pm Sep 21, 2015 6:44pm
Quoting FXTriumph
They rarely put up trading charts, but put up lifestyle pictures that confirmed their millionaire status. And they all collected luxury items like expensive artpieces, swiss horology, vintage cars etc. I mean, when you see a trader with 25 different authentic swiss timepieces, Chopard, AP, Hublot, Ulysses Nardin, Franck Muller etc, and encrusted, travelling first class or private jet with their entire family members etc, then they must be very affluent. And they were not selling courses, lol.
I don't know any millionaire "traders". In fact, I don't know any "traders" at all, aside from the people I have become acquainted with here on ff.

But I do know several people who have >$1mio stock/bond investment portfolios. And I know a dozen or more real estate investors who are worth $millions many times over. I have known millionaire loggers, millionaire fishing boat captains, millionaire contractors, etc, etc. They very rarely exhibit this kind of ostentatious behavior. In fact, that is the kind of behavior one expects from the nouveau riche, or perhaps the spoiled children of the rich, but not from people who actually have made money the old fashioned way, you know, by working for it?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #218
  • Sep 21, 2015 7:09pm Sep 21, 2015 7:09pm
Quoting The Fool
{quote} I don't know any millionaire "traders". In fact, I don't know any "traders" at all, aside from the people I have become acquainted with here on ff. But I do know several people who have >$1mio stock/bond investment portfolios. And I know a dozen or more real estate investors who are worth $millions many times over. I have known millionaire loggers, millionaire fishing boat captains, millionaire contractors, etc, etc. They very rarely exhibit this kind of ostentatious behavior. In fact, that is the kind of behavior one expects from the nouveau...
Great post

Those who respect the spoils of hard work tend to retain it. Flaunting it certainly has it's downsides.

Inserted Video
  • #219
  • Sep 23, 2015 4:13pm Sep 23, 2015 4:13pm
Quoting ^eagle^
From what i understand, Most traders graduate to futures.
When they understood the game, yes. Take 100 bucks, go to the next bank and tell them you want to trade FX with a 0.3-spread on eurusd. What I want to say: The most retail "traders" are totally undercapitalized. Do a normal job, save money for a futures account and trade the evening session. You need at least 50k to make an average living from fx-trading. And this is valid for people who can trade, not for rookies.
  • #220
  • Sep 23, 2015 4:41pm Sep 23, 2015 4:41pm
There are wealthy individuals like Soros who made their money elsewhere and try forex. So when you say "forex millionaires" I assume you mean people who made their millions from trading fx. The short is "no". There are bank and hedge fund traders with a net worth > $1 million dollars, but they earned it by salary and commissions, not by trading their own money. Retail traders who have made $1 million from their fx accounts? There aren't any. The game is tilted to favor large banks, so the little guy will lose eventually. It's not a level playing field. You have as much chance of making a million trading as you would playing blackjack in Vegas. It's not going to happen. I know that sounds harsh, but it's better people hear the truth and save their money rather than squandering their cash pursuing a hopeless dream.
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