Where are the Forex Millionaires/Billionaires?

[pablopluto]

Paul Rotter is near a billion, Ross Perot started trading currency before going oil. Its possible and by George Soros account a person can make a million in a few years with a dedicated work ethic. Good trading rules. Adherence to trading rules. And starting capital of 10K

[tymen1]

There you are :

G. Soros
R. Perot
P. Rotter

What about Donald Trump and Rupert Murdoch?

OK, I am getting out of here - money is not everything!

[rantinraven]

I agree with everyone here but I wanted to put in another point. I think what new traders often over look is this. Trading like any other business will only give you what you put into it. I know there have been several people that have asked if I "know" anyone that made millions. I know names but I don't "know" these people, their success to me is really irrelevant. Its wonderful that they have made the amounts of money that they have, but they started from a much different place than I am. If I can start with 2.5k and turn that into 25k in a year then I am successful. Heck if I only turn it into 15k I'm successful, or if I just double my money I still consider that a success. Success is relevant only to you, your measure, may not be what someone else would consider great. Of course everyone wants to make a million dollars! But if you started with low capital and can turn it into a profit instead of a loss then your doing very well. I think sometimes we try to leap instead of crawl at the beginning. What we do know about the forex market, is that it's always changing, learn to change with it and adapt and you will do fine. People just starting in forex may want a million dollars, but 20k extra a year would do a heck of alot. Keep that in mind as you go forward.

[pablopluto]

There you are :

G. Soros
R. Perot
P. Rotter

What about Donald Trump and Rupert Murdoch?

OK, I am getting out of here - money is not everything!

I dont know for sure if Trump and Murdoch traded currency. Money isnt everything lack of money is everything.

[kaalilaatikko]

Hello,

Yes, you are exactly correct here Akeakamai.

I always tell everyone never to post your live pips.

The whole planet is watching.

You may be subjecting yourself to not-so -benign influences!!

It is for you own safety not to post live pips.
But you can always post "demo" pips and thus disguise your gains.
There are also other ways to disguise your gains.

I would like to ask about your opinion on a related matter. I have participated in a thread where people have published their monthly gains and losses measured in percentages of the account capital. Would you count this in the above as well? As I see, this will not reveal anything about your true gains in € or $, but at least I have found this very valuable in my learning process in getting benchmarks about how you are and should be performing.

On the other hand, if you calculate in pips, the monetary result depends on the sizes of the trades and the traded pips, so wouldn't it be ok to tell the pip gains for that kind of benchmarking purposes as well (supposed that such a pip number relates to something measurable, e.g. when all the pips come from the same pair)?

I may need to reconsider posting my percentages... Luckily (or unluckily, depends on the view) I am still far from the millionaire class...

J.

[equilibrium]

I have participated in a thread where people have published their monthly gains and losses measured in percentages of the account capital.

I'm really curious about it, could you find this thread for me to see it?

[kaalilaatikko]

Search for the systems by J. Welles Wilder. It's a long thread and there are some prerequisites if you want to get the best out of it. I advice you to start reading from the beginning. Sorry, I won't post a link because that could cause a link violation.

[bizbad]

If they have made Buffet type money, I guarantee they aren't on the internet. The uber rich are usually into more than one income stream. Forex is not the easiest type of trading to do. Warren Buffet once said no one can predict what is going to happen in the currency market. He preffered to stay with safer endeavors. I would think most of the worlds richest think the same.

[pablopluto]

If they have made Buffet type money, I guarantee they aren't on the internet. The uber rich are usually into more than one income stream. Forex is not the easiest type of trading to do. Warren Buffet once said no one can predict what is going to happen in the currency market. He preffered to stay with safer endeavors. I would think most of the worlds richest think the same.

Biz,
Warren Buffet also said every market has a behavior and every market has its future and present factors that influence them. Its hard to tell the future in markets some are harder than other Its not as easy to buy photo cells when TB Pickens wants to put solar panels from Texas to California. But you can trade forex off of behavior of the market.

[JonnyFX]

The super wealthy actually do not do actual
FX trading themselves. They use forex options
trading instead. That is actually easier with
less risk than actually executing trades and
stressing over daily on price fluctuations you
see on your trading platform.