Forex Millionaires System

Millionaires in forex There are many who have made their fortunes in forex. The biggest haul in history is how Gorge Soros made his fortune. No. 1: George Soros Vs. The British Pound In 1992 British pound exchange rate versus other European currencies was fixed by the bank of England. In order to maintain that value, the bank set their interest rate at a high level, similar to the one offered by Germany. However Germanys high interest rates were appropriate for a robust economy in need for a cool down to prevent a spike in inflation. Britain was in the opposite situation, with its economy in the doldrums. A Hungarian immigrant spotted this situation, decided that it was unsustainable and sold short 10 billion pounds. He made 1.1 billion US dollars. His name is George Soros. No. 2: Stanley Druckenmiller bets on the Mark - Twice Stanley Druckenmiller made millions by making two long bets in the same currency while working as a trader for George Soros Quantum Fund. Druckenmillers first bet came when the Berlin Wall fell. The perceived difficulties of reunification between East and West Germany had depressed the German mark to a level that Druckenmiller thought extreme. He initially put a multimillion-dollar bet on a future rally until Soros told him to increase his purchase to 2 billion German marks. Things played out according to plan and the long position came to be worth millions of dollars, helping push the returns of the Quantum Fund over 60. Possibly due to the success of his first bet, Druckenmiller also made the German mark an integral part of the greatest currency trade in history. A few years later, while Soros was busy breaking the Bank of England, Druckenmiller was going long in the mark on the assumption that the fallout from his bosss bet would drop the British pound against the mark. Druckenmiller was confident that he and Soros were right and showed this by buying British stocks. He believed that Britain would have to slash lending rates, thus stimulating business, and that the cheaper pound would actually mean more exports compared to European rivals. Following this same thinking, Druckenmiller bought German bonds on the expectation that investors would move to bonds as German stocks showed less growth than the British. It was a very complete trade that added considerably to the profits of Soros main bet against the pound. No. 3: Andy Krieger Vs. The Kiwi In 1987, Andy Krieger, a 32-year-old currency trader at Bankers Trust, was carefully watching the currencies that were rallying against the dollar following the Black Monday crash. As investors and companies rushed out of the American dollar and into other currencies that had suffered less damage in the market crash, there were bound to be some currencies that would become fundamentally overvalued, creating a good opportunity for arbitrage. The currency Krieger targeted was the New Zealand dollar, also known as the kiwi. Using the relatively new techniques afforded by options, Krieger took up a short position against the kiwi worth hundreds of millions. In fact, his sell orders were said to exceed the money supply of New Zealand. The kiwi dropped sharply as the selling pressure combined with the lack of currency in circulation. It yo-yoed between a 3 and 5 loss while Krieger made millions for his employers. One part of the legend recounts a worried New Zealand government official calling up Kriegers bosses and threatening Bankers Trust to try to get Krieger out of the kiwi. Krieger later left Bankers Trust to go work for George Soros. Situations like the one described before are not a black swan of the past. The press is filled with stories of currencies overvalued being restored to fair value in the recent European crisis forex players brought the value of the Euro down when it was overvalued (from 1.3654 on April 14 2010 to 1.1925 on June 8, 2010, - 12.7 and back up again when it was oversold (from 1.1925 on June 8, 2010 to 1.3276 on August 6, 2010, 11.3). Central bank intervention to reach a desired value have not disappeared either, as the recent actions of the central bank of Japan and the central bank of China show. Predicting a fall or an increase is not a question of luck only, disciplines and strategies based on technical analysis help to understand short term fluctuations of a currency, while fair value measures, such as the Big Mac Index, help to spot currencies that are away from their underlying value and that will converge to that price in the long run. FF quotRags To Richesquot Millionaires Joined Sep 2012 Status: Member 742 Posts Hello Guys, this thread is an introduction to the thread that I will start, bascaly I WILL ATTEMPT TO MAKE A MILLION DOLLARS starting with very little Captal 1k-10k and I will use the power of compound interest to help me achieve that goal quicker.. OK8230. SO MY QUESTION IS, ARE THEY ANY DOLLAR FOREX MILLIONAIRES HERE ON THIS FORUM. I think I know a couple, I think the sonic R guy is 1, james16 should be 1, Ronald Raygun is definitely 1, Merlin has to be 1823082308230. Why I ask this because ive seen FF veterans, guys who have been here since 2005 looking for a system that makes money, like WTF, you8217ve been trading for 9years and you still haven8217t found anything that works. Are you for real. I think the key is information, Discipline and COMPOUND INTEREST, obviously MM and an edge8230 while writing this I remember a couple of years back when I was still a rookie, I managed to ger RR on skype, I have never forgotten what he said to me, I thought it was so profound, I still do, he said 8220im no longer looking for a profitable system anymore, im looking for a system that will maximize my profits and minimize my risk8221 I thought that was profoung. WHY Because there are sooo many good systems here on FF, systems that work, systems that have been working for years. YEARS. And people are still trying to find a profitable system, I THINK PEOPLE ARE JUST LAZY8230. MY QUESTION IS, ARE THEY ANY 8220RAGS TO RICHES8221 FOREX MILLIONAIRES HERE. I am what Many Dream to be but only a few can achieve, im a part of the 1 Joined Mar 2011 Status: I should be on your ignore list 4,154 Posts MY QUESTION IS, ARE THEY ANY RAGS TO RICHES FOREX MILLIONAIRES HERE. And not even quotriches to richesquot forex millionaires. That, is the nature of the beast. Hello Guys, this thread is an introduction to the thread that I will start, bascaly I WILL ATTEMPT TO MAKE A MILLION DOLLARS starting with very little Captal 1k-10k and I will use the power of compound interest to help me achieve that goal quicker. OK8230. SO MY QUESTION IS, ARE THEY ANY DOLLAR FOREX MILLIONAIRES HERE ON THIS FORUM. I think I know a couple, I think the sonic R guy is 1, james16 should be 1, Ronald Raygun is definitely 1, Merlin has to be 1823082308230. Why I ask this because ive seen FF veterans, guys who have been here since 2005. WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex) Have you seen an audited account A little hint about the internet: 99 is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big maybe. Everything you said is correct: you need discipline, money management, compound interest and an edge. However, the edge should be stated first. Without it, you can forget the rest. Which leads me to my next point: there are many systems here on FF, yes, but are they any good That I leave up to you to research. I personally have backtested a couple of 100 systems here on FF over the years. In the end I had to make my own, because all of these systems here fail to reach the goal of an edge / positive expectancy. A truly profitable system that will be profitable for decades to come is very rare. Yeah, you can have a system that is a winner one year and a loser the next, but making 100 and then losing a 100 will still make you a net loser. Doing more than 20 a year with minimum capital volatility each and every year consistently is pretty hard. Steve Cohen, one of the best traders in the world managed a return of 60 (with his hedge fund SAC Capital before fees) over the last 20 years. And what is his edge Insider Information. barely legal at best, but this is the best example that even if you have all the information in the world you are still only gonna return 60 on average over years. So if you want to make it really big, forget these 10 - 20 a month. Not even the really big guys with all the information that we could never ever access can average these kind of returns in the long run. WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex) Have you seen an audited account A little hint about the internet: 99 is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big maybe. Everything you said. Truth in these words. Agree with all of the above. Most people come into the markets with delusions of get rich quick strategies. The reality of consistently profitable trading is far less glamorous. There are no quotset and forgetquot EAs that will turn your 5k account into 1m in 3 years. There are no shortcuts. Profitable trading is a game of patience and realistic targets. It is possible to make 20 monthly ..however the average gain across years will likely be far away from this dream. The most successful fund managers in the world do not gain this amount consistently. They have access to the highest quality PHD graduates in economics, statistical analysis and many other disciplines. The best minds money can buy. literally They are then trained and nurtured for years in the ways of the markets. with all the advantages of the quotinsidequot track. Do you or I have access to such quality personnel Is it then likely that we will make 10/20 times annually what they can make, given their quotinsiderquot advantages as stated by Custos I doubt it.. So, what to do I agree with you (Soros) on one point. people are lazy. Most who come to forums are looking for the grail system. Someone who has done the work for them. No such system exists. I too have tested many systems from this and other forums. Is it strange that not one has lived up to my expectations Or their purported results Not really. A lucrative idea in one persons hands can be a disaster in another. Its clear that mechanical execution of quottraditionalquot strategies dont work. No matter how many EMA cross/MACD divergence/RSI/CCI/Fibonacci systems we see, the reality of their execution falls well short of targets. More often than not, they are losing systems. They lack the quotedgequot so often thrown around on these forums. The markets are random. Trading is metagaming. This does not mean that you cannot win, but you need to understand all the players in the game. their role and function. The way the market behaves according to their interaction. Once you truly understand these things, then you can learn to position yourself in the game so as not to be quotplayed. quot Most people follow the herd..the consensus of trading. And statistically most people lose money in Forex. If you want to be successful. profitable. then you have to be different. The people you believe to be Forex made millionaires. the truth is you have no idea. and really their success or failure shouldnt be a concern to you. Focus on your own success. Your own growth. in capital and experience. Not one dollar made or lost in their accounts will benefit yours. I wish you luck on your journey. but i fear you will become disheartened very quickly with the mindset displayed by your posts. My advice is set more realistic targets. You will not be a millionaire in 5 years. This is not a sign of failure. Increase your capital consistently over the next 5 years. this is a sign of success. Focus on high probability trading. Focus on your own account growth. Trading is a profession. a full time job. Pay it the respect it deserves and you can be profitable. I wish you well. Wealth comes from what you keep, not what you earn WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex) Have you seen an audited account A little hint about the internet: 99 is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big maybe. Everything. Joined Sep 2012 Status: Member 742 Posts it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it. many things were thought to be impossible and not logical, it took men like me to prove those things wrong. from sports to science to inovation, men have proved that nothing is impossible to the determined man yes i may loose a few battles but i will win the war i will even go further to say i will have 10million in my forex acc in 3 years max I know many people will be very angry with what i have just said because they have failed in they journey and have said its impossible I am what Many Dream to be but only a few can achieve, im a part of the 1 Joined Sep 2014 Status: COT devil Apprentice 314 Posts go soros get ur target, and i ll follow behind u. Greeen or Burn, thiss bussines Joined Dec 2006 Status: Member 3,836 Posts it all boils down to perception, I HAVE ENOUGH PROOF THAT MY GOAL WILL BE REACHED AND THAT IT IS POSSIBLE, if you dont believe its possible then fine, just because it hasnt worked in your life doesnt mean it wont work in mine, maybe it hasnt worked because you dont believe that it can work, it is not only possible but i will achieve it. many things were thought to be impossible and not logical, it took men like me to prove those things wrong. from sports to science to inovation, men have proved that nothing is impossible to the determined man. great man, if you have all the proof then do it. However, due to lack of further information about your strategy I believe you will be like the thousands of other forex traders who claimed such things and have come and gone. Maybe they are now all living a happy life at the beach. but I highly doubt it. And man, dont get so emotional, this is just trading. Putting trading on the same steps as science or innovation is ridiculous at best, and please why is everybody coming with these war and battle metaphors, this is getting really old. Just do what you plan to do and see how it works out. Hopefully in 3 years you can come back and tell us about your success story. Well and what I dont know is from where you want to start. 1000 or 100 million or any other amount If you plan on getting from 100 million to 10 million , then I believe you have a viable plan and that this scenario will for sure work out in no time. If you want to start at a 1000 and get up to 10 million in 3 years then the best of luck to you, you probably will need it. But from your writing style I guess you are still quite young and have plenty of time to come to the 10 million eventually, so just give it some time. WHEN PEOPLE WRITE IN CAPITAL LETTERS I ALWAYS THINK THEY MUST EITHER BE CRAZY OR TEENAGERS, which one are you And one question mark is enough. How can you be sure that any of the stated people are millionaires (in forex) Have you seen an audited account A little hint about the internet: 99 is scam and bogus. However, I know there are definitely some who made it big, but those are obviously money managers who need the publicity to get more money to manage. Are there any private traders who made it really big maybe. Everything you said. Doing 20 year. Lol 12 monthly is picking cherry. Make 100 To 800 Pips Per Trade Welcome to Forex Millionaire s System, It is our plan to provide our subscribers with free and useful Forex information. It is our goal to see that all our subscribers earn good money from the forex market and live the good life they deserve. If you are new in the forex industry, and want to be a successful forex trader you have to stick to the following instructions: Make a change inside your self. Remember all the time you could become what you think about. Determine your goal. short term goal and Long term goal. Reviw your goal daily. Put your plan to achieve your goal . Determine your action steps and translate it into daily schedule. Equip your self with the right forex education . Equip your self with the right tools. Choose the right brocker . Open a demo account . Stick to scientific strategies in trading, Never depend on luck only. Develop your skills, find out the weakness point and overcome it. If you failed in the first try or even in the tenth try. it is not the end of the world. you did some thing wrong. Learn from your mistakes. Each time you will learn some thing new. If Edison quit from the first try we would never find light today. Ask your self how many times Edison failed Keep practice until 90 success. Start real trading with 200 - 300 only. Never be greedy. you will lose every thing. Determine your loss point in each trade. Basic Forex Rules For Beginners : - Never trust any get rich quick scams. - Successful traders make money from larger time frames and trends. - Do not look at smaller time frames. - Do not trade the news. - Trade what you see and not what you think. - Exits are more important than your entries. When you make profits, get your deposit out. This action will give you more confidence and more power in trading. Adopt a successful strategy and keep doing. Keep trading until you achieve 80 percent success. You can start trading with large sum now Achieve your short term goal. The next step is your long term goal. All the time remember You Could Become What you Think About . Do some thing good for people. Be quite sure when you do some thing good you will get the same. Feel free to browse the links on this site for more information about Successful Forex Trading. or sign up for our 14-part Forex Training email course below, where youll receive one lesson per day in your email inbox. 1. 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