shezian asked:
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I just wanted to ask you, have any of you met any millionaires who have made money just of the forex? Have you seen proof and watched how they trade? Do they really exist?
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There are well documented cases of speculators who have made millions in currency trading. George Soros is one of these rare examples. Just for fun, I recommend checking out how Soros and his backers “busted the BOE”. Those of you who think currencies can’t be manipulated should give it a look too.
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I personally know two millionaires in Chicago who made fortunes in currency trading. Currency Futures trading, that is -
not Forex trading. Both started as clerks and worked their way up. One has moved on. The other runs a fund. The most successful traders I know are on the sell side or the operational buy side. Retail Forex is a relative newcomer as a speculative device. OTC retail spot forex is still very much a dealer's game. There is some money to be made. I doubt there are many traders that made their bones as retail forex speculators (non-professional traders). Don't let that deter you from learning about trading by experimenting with forex! Retail trading of any financial instrument for a living is a tough, tough gig. Go slowly. The markets will be here when you are ready.
Good luck.