Making Fortune With Forex?!

Hi, i ran on TheAttractiveYou: Personal Development in communication, finance, business and much more. thread while ago.

I get a lot of private messages from my posts about Forex trading, which is cool. Rather than answer the same ??? privately again and again, I thought I’d post start this thread. You can still private me, but I’ll post the answers here as well. I started trading 15 years ago I had been laid off from a $75k job which in Kansas is a lot of money, was going through a divorce a single dad and selling my plasma to feed my kids. I made my first trade with money from a student loan. Less than year after that first trade I got a recall notice to my old job. I told them to piss off. By that time I had the equivalent of 5 years pay in my trading account and knew I would never have a normal job again. Over the years I have had many people ask me “how did you make it so big”. After awhile I stopped answering that question because 99% of the people who ask never take action to change things. Here at Venusian arts its different, all of us came here to better ourselves so here is what I can tell you to increase your wealth.

First and foremost TAKE ACTION. Don’t act like an AFC who hopes a HB9 will magically appear in his apartment (aka parents basement) and seduce him. We all know the only way to be an outstanding PUA is to get out there and do it always evolving always learning, always busting through AA to win the prize others only dream of. Same is true for amassing huge amounts of wealth. You have to take action and practice CANI, constant and never ending improvement in all areas of our lives.

There is a lot more to investing than just the money aspects. The very best advise I can give you is to first master Anthony Robbins Personal Power II, and Time of Your Life series. The reason for this is 99% of traders get screwed because of emotions. Learn to control your emotions and trade using proper money Management and making lots of money is a given. In fact proper money management and guessing will make you rich in 20 years. Add in an 80% accurate system you can do it in 5. I have a teenage daughter who started out with a few grand I loaned her and will beak $100K this year. The ability to control her emotions is what gave her this ability. Like Mystery taught us a new and infinitely better way to meet women, Tony’s stuff opens doors to fulfillment in every area of our lives. Without the balance I learned from Tony, I would not have the life I now have. Like AA the fear of placing a trade never goes away, a winning trades is like closing a HB10+ woman other men only dream about, and a losing trade is like getting blown out of a set. Controlling the way you react no matter what happens is essential. Robbins programs, properly applied, will jack up your DHV like it was on steroids in too many ways to mention.

The money management formula I use is in Larry Williams Long Term Secrets to Short Term Trading. It is a book on trading Futures, but the formula is a must. Its simple to use but the background makes it too long to explain here.

Other than that like each person has his own style of running gambits, each person has his own style of trading. You have to use the one that works for you and fine tune it till it pays out consistently for you.

This is first post by Rodehard.
Anyway my questions is this possible. (BTW When i am asking [B]is this possible[/B] i am not asking is it possible to make money in forex, i am asking is it possible to make that amount of money ).

IF you get a very good system, discipline to follow it and a big control on your emotions there´s no limit for the money you earn.

but the things you need are very hard to found… especially the discipline and the control

Hi I have heard about your way of trading… can u please share the link which I can’t find,…

It sure is possible to make money from forex trading. I myself has done that but not a huge amount as currently I’ve just started in this career.

to earn big money you need big money in your account, far to many people think having £100 in your account means you can earn big ££££££

5% a month is a realistic growth when you start - i’ve seen more and i’ve seen allot less

maybe he’s part of the 5% of forex winners. they exist, and they make big money. so yeah. it’s possible. why not?

I make my fortune with forex trading. Forex is my way of earning. I am not a big winner in this business I am sure one day I will be a successful trader , I am making regular profits from my investment.

Thats an interesting topic so regarding fortunes i was told that the EUR will drop very hard by the end of the year is it true ??? do you think it is going to drop or not.

I agree with you, only 5% forex traders may earn, other 95% loose.

It all depends upon your patience and knowledge of this fluctuating market. you can earn through Forex but you have to watch your each transaction and decide carefully where and when to trade.

Nothing is impossible. Useless to compare yourself with the masses. Keep improving yourself today vs yesterday and the sky is literally the limit. Looking outside has no benefit, it will only drag you down. Make the best of who you are and who cares about what others make.

[QUOTE=“masteri;156099”]Hi, i ran on TheAttractiveYou: Personal Development in communication, finance, business and much more. thread while ago. This is first post by Rodehard. Anyway my questions is this possible. (BTW When i am asking is this possible i am not asking is it possible to make money in forex, i am asking is it possible to make that amount of money ).[/QUOTE]

It was a lot easier to do that in the past if you could find an edge and be disciplined enough to stick to your rules; however, it’s become a lot harder for traders to make that kind of money in FX now. The reason being market conditions have changed. FX rates are primarily influenced by speculation on interest rates and future interest rate prospects. With interest rates being near 0 for many of the major economies, the big players left FX in favor of better investment opportunities such as futures and equity markets. Recently, it looked likely that the U.S. would begin liftoff (initial hike rate) sometime this year and as a result, there is a nice strong trend on any USD chart favoring the dollar. Lots of money has been made for the big players and FX is returning back to better conditions instead of the choppy and unpredictable conditions we faced especially in 2013. Now the current macro situation is uncertain so price isn’t moving as cleanly, but when that changes you can bet the big money will hop on.

So is it impossible to make massive money in this current environment? No, but it requires an unconventional approach to trading, taking big risks, having your emotions in check, and knowledge of what makes price move. I make some damn good returns every day even now, but I also take big risks in doing so. Many people would not be able to do what I do and would probably end up blowing their accounts. You must have an unconventional approach to trading because if you do what the herd does, you will never be better than the herd.

I also have the following:

  1. Strong knowledge of market structure, FX structure, the players, how price moves and why, and the influences on price on a given day. I’ve never worked on the sell-side (AKA the institutional traders, who can see customer flows), but I am highly accurate when it comes to reading order flow strength at key price levels and determining which levels matter and which don’t and the reaction I can expect from them.
  2. Understanding my market and instruments, and being logical about what to expect. I’m not going for outrageous pips at just any level. I have an idea of what to expect although I just go for a number I know has a high probability of occurring for both trend and counter-trend trades.
  3. Understanding of different market participant approaches, strategies, and goals including bank traders, hedge funds, commercial businesses, central banks, and us retailers.
  4. Strong willingness and determination to succeed. It took me 2 years and 7 months to become profitable, but I was fortunate enough to spend hours and hours on learning this business inside out. I did much less trading during that period and much more reading/learning. I read the academic papers, books, forums, and when an idea hit me, I wrote it out as notes, articles, essays, etc. I spent time learning the boring side of the business because this is my passion, and this is something that most of the others don’t spend time doing. I was always asking how and why, and kept searching for an answer.
  5. Combining all of the above I have an unethical approach to trading this market which involves trading like a dealer would, but curtailed to fit my own rule sets in this game as a retail trader.
  6. Also combining the above I use my strong intuition to make money. I can’t explain everything I do and it would be must easier to show because it’s highly discretionary and intuition plays a key role. All this stuff that I have learned in the past has been burned into my subconscious mind and I use that to make money every day, that’s why most people can’t do what I do because they don’t have my brain. In fact, I post such long messages on here that most people won’t even bother to read so why waste my time with these opportunity costs? Well I feel better knowing that writing this stuff out helps put this into by subconscious mind and eventually my mind will just pull this up in a snap without me even thinking about it. I will never stop learning, but there’s basically nothing I can learn from retail forums anymore except maybe some unconventional approaches. But posting here writing my thoughts out only makes me better for it.

PS - I am solely a spot trader, but I’ve been told by many pros who are having a harder time in slow market conditions, including ex-bank dealers, that fx options are a much better way to trade during these sorts of times.

Good advice, a trader has to use his own resources and skills to make money from forex market. Looking at others and dreaming to big at very start will only bring you down.