Do you know anyone personally who has gotten rich from forex?

splitting hairs

This is the BP forum (Commercial Content) where you can promote your stuff, free of getting flagged.

But that is what u don’t get because of your bias, I am not promoting! Only trying to help other traders learn, and this is absolutely my last word on the subject. Enjoy your trading.

I’m just telling you that he actually knows how to trade, trust me lol and if someone has a skill, why ccan’t they share it with others if they choose to? I don’t understand your question. I plan on teaching others the same after I become more experienced so what’s the issue?

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you’re wrong, I dont have the same mentor as @midwest

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I make some money from trading but it’s not huge. And remember that returns above risk-free rate imply high risk. So those who got rich from trading accepted high risks or (found some market inconsistency, which is rare in efficient markets) and you can’t simply extrapolate his success to other traders.

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There’s a book out there by Jack D. Schwager that has input from some very successful traders called Market Wizards Interviews With Top Traders.

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Great book! To my mind, each trader should read it. In fact, in consists of several parts crerated in different time, but all of them are interesting. There are no any trading recommendations or description of a strategies there, but it helps to form the right trading mindset.

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same here. this is why i’m curious if any of you know anyone who has gotten successful from fx.

I was thinking of someone you know personally and not a mentor but thanks for your reply.

Good luck brother! Hope we all get rich with fx trading.

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I know a few personally, however I am not at liberty to provide their names and data.

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Hopefully in a few years you will all know me :smile:

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Actually I don’t know anyone who made. A friend of mine told me there’s this guy made $70K to $20M in a JPY pair and always added in a trend. I don’t know this guy in person and I never trust what I have heard.

I know some trainers make great money from Stocks. I watch their live trades. I don’t want to share their names.

Trading can make you rich if you can say “no” to 50 pips and say yes to “100 pips”. It’s all emotional.

When you see a millionaire trader, most of them are trading with someone else’s money. They didn’t become millionaires trading and compounding with their capital i think.

I also understand trainers. As trainers teach lots of people, they reach to investors and trade their funds. So this is another business. But; I would never trust a trainer that shows me his ferrari, luxury life-style and etc.

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I know people that have made a living out of trading, but not sure if they are rich.

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There’s Trading… And there’s just trading forex, the key " i think " is to diversify your portfolio, Manage your risk with precision and learn how to generate trading ideas better. Oh and don’t listen to people trading in demo land…!!
I do know people who make money from trading but it’s not from just fx pairs.

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I think demo land is super important.

The main reason many traders quit is because they learned using they real money instead of reading the charts first and spend a couple months in demo land.

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Let’s be honest about this stuff. I personally have been trading off and on for many years when i feel like it and have the time to take the time(I’ve been retired and ill off and on).To become successful, it is adamant you study what is going on while the pairs that week (spending about two hours reading and focusing on what is going to happen, this is your edge) READ the NEWS and STUDY
I personally learned Pivot Trading was the best for me and lost money using any other method (too complicated and idiotic pattern recognition is totally nonsense.). If you want to learn to become successful, join Forex Factory and tune into the thread " Pivot Trading". Davit is your mentor there. Read the threads and learn, no stupid questions or you’ll be kicked, it’s not recommended for anyone without two years trading experience. Forget any robots and other methods, they will allow you to become foolish and lose all your money. Take my advise now, and I guarantee you that you will thank me later.

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Exactly, well said. He cant back up his talk and he’s out the door… cheerio

It’s certainly possible.

I think of the anonymous Japanese trader known as Cis (death in Japanese). As of 2017, he had made at least $170,000,000 trading stocks. Some estimate he’s made far more. Look him up, it’s a fascinating story. Maybe his years of competitive video gaming has wired his brain to exceed in the fast paced markets.

But then again, that’s with stocks. And trading stocks is like driving a race car… but trading FX is like driving an F1 car.

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Maybe in a year, maximum two, I can consider myself rich, if until then I don’t blow my account, which I started to trade manually in February 2017 with a balance of 902 USD.
https://www.myfxbook.com/members/ovisun/tickmill-ln/1838216

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