I have a question. Has anyone on here actually made it to millionaire status by trading forex? Is anyone making an average of 100k, 250k, or 500k per year? I�m not trying to be nosy. I�m just looking for some inspiration. I mean is it really possible to become rich doing what we do. If you don�t want to talk about yourself, maybe you can give us some stories of someone you may know � who is successfully trading forex (maybe it�s you). Like I said, I�m just looking for some inspiration. I like to hear other peoples success stories.
Read Jack Schweigers 2 books on the market wizards or any of the books written by the turtles (worth also reading how that group came about). Then try and meet some traders in your local area but remember none of this says whether you can make it to the 5%. No I am not making the large sums you are talking about but after 13 successive losing months at the start of my forex career after success at share trading I have had only 2 losing months in the last year. Yes this can really be done but it takes time, patience, emotional fortitude and even then only about 5% make it. Can you successfully drive a formula 1 car or play elite golf? It can be done but by few. Good luck to you and remember ‘’ winners never quit and quitters never win"
I definitely agree with Tony. Market Wizards and The New Market Wizards are perfect for the trader seeking a bit of inspiration.
I am new to forex, and so I’m definitely not in that high income bracket. However, the person who peaked my interest in Forex is. I’m not gonna list names, but he’s a good friend of mine. He got into Forex about 3 years ago and is already at $1 Mil +. He makes about $500K per year. He only started out with $50,000
I must say, he’s darn good at what he does.
So, i guess it’s definitely possible to make that much. Then again, I’m sure if you ask how many of us has lost money, you’d probably get a lot more responses.
Thanks for the reply, jherron
This is what I’m talking about. I love hearing stories like this.
Is he mentoring you?
When I crunch the numbers it seems as though it shouldn’t be all that difficult to reach that kind of success, but then again I’m trading with a practice account right now and it just really isn’t all that easy. Every time I think I got it, the market throws me a curve ball - like today. There were big moves with GBP/USD but my system just didn’t hold up.
Anyway, after reading your post I’m easing my way back to optimistic.
-Clayboy
does your friend have a public blog? does he have a school or something like?
thanks for sharing!
Well, it is definitely possible to make that kind of money. But it isn’t easy.
He hasn’t mentored me yet, but I actually meet with him at the end of this month. He’s gonna show me how he does what he does.
As far as a blog, he has none. He’s actually very private about what he does. Some of his close friends don’t even know what he does.
I’ll be happy to post what I learn here. But, one thing I have learned, is that what makes one person millions, will make another flat broke, so no promises.
Hope you make your millions!!