Millionaire Trader

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Contents

Millionaire Traders: How to Beat Wall Street Professionals on Their Own Field

Publisher: Alpina Publisher, 2020
ISBN 978-5-9614-1584-1
Pages: 284 pages
Format: 70 × 100/16 (170×240 mm)
Circulation: 1500 copies.
Weight: 350 g
Binding: Dust Cover

Read the book Millionaire Traders: How to Outperform Wall Street Professionals in Their Own Field

Quote

“The market will forgive you a lot, including unsuccessful, even stupid deals, but it will not forgive the loss of capital. Having lost capital, you cannot compensate for losses. Therefore, all the traders with whom we spoke, first of all, cared about the preservation of capital. ” Ketty Lin, Boris Schlossberg

What is the book “Millionaire Traders” about

About why and how people are not just tradersand successful players making a fortune. Lin and Schlossberg minimized their author’s text; their mastery was manifested in well-chosen questions for millionaires and a masterly designed abstract in each chapter.

Why Millionaire Traders is Worth Reading

The interview form always favors a more attentive reading. A minimum of instructions and “universal” rules, a maximum of emancipation and personal experience. Extremely simple mortal people who were included in Trading almost penniless for a soul.

The heroes of the book cover the stock, futures, options and foreign exchange markets in their stories. The heroes of the book are Americans, but with different nationality, which undoubtedly demonstrates the characteristic features of each of them.

Who are the authors

Ketty Lin He is the chief strategist at FXCXI in New York. Her book, “Intraday Trading in the Foreign Exchange Market: Technical and Fundamental Strategies for Profiting from Market Fluctuations” (2005), written for both beginners and professionals, has been widely recognized.

Boris Schlossberg He is the currency strategist of the world’s largest retail FOREX retail market maker – Forex Capital Markets in New York. His articles on good risk management, trader psychology and market dynamics are published monthly in SFO magazine.

This Is How Millionaire Traders Think & Act

One of the hardest truths about trading to implement, is that if you hope to become consistently profitable you’re going to have to think and act like you are, BEFORE you are.

Aspiring traders should follow and mimic the mental traits, attitude, belief systems and trading processes of those successful traders and investors that have walked before them. This seems obvious and sounds relatively easy perhaps, but there’s a reason why so few people actually achieve trading success. You need some insight and help with what you need to actually change and do, if you want to start making money in the markets..

The main reason most people fail at trading is that people generally don’t like to consistently do anything that is somewhat “boring” or “uncomfortable”. Even when it comes to such important things like health and fitness for example, most people know what they SHOULD do, but they knowingly don’t do it, even when they are aware of the consequences.

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It is when these “consequences” seem “far off” or “a long time away” that we start to ease up on our dedication to the discipline required to succeed. So, you need to keep these consequences in your mind, so that you begin to place more value into doing what you need to do to achieve what you want.

So, what DO Millionaire Traders Value?

  • They value abundance and opportunity

Want to know the fastest way to lose all your money trading? Trade like you’re desperate. Or, if you want to lose your money REALLY fast, trade like you’re desperate and not even know you’re doing it!

What is “trading like you’re desperate”?

Trading like you’re desperate essentially means you are “desperate” to make as much money as you can as fast as you can, and this is what prevents most traders from actually ever making money, ironically. When you do things like trade when your edge isn’t there, or increase your position size beyond what you know you’re comfortable with losing or otherwise deviate from your trading plan, you are trading as if you’re “desperate” to make money. You will have to stop this if you want to think and trade like a millionaire.

Millionaires operate from a mindset of abundance. They don’t feel desperate to make money, and not just because they are millionaires. It’s because they see the endless opportunities in the market and elsewhere in business, so they don’t feel like they’re in a “rush” to take the next thing that comes along. Instead, they feel like they should wait patiently for the most obvious trade setup or perhaps the lower risk opportunity to come along.

Here is one of my favorite quotes that relates to not trading like you’re “desperate”:

I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, “I just lost my money, now I have to do something to make it back.” No, you don’t. You should sit there until you find something. – Jim Rogers

I know it can be difficult and cliche sounding, but honestly, if you want to become a successful trader you’re doing to have to start trading as if you’re already a professional. The habits and mindset of a losing trader (desperate to make money) are NEVER going to translate into consistently making money in the markets. So, even if you have a $200 trading account, you have to trade it as if you are NOT desperate to grow it too fast or you WILL blow it out, quickly.

  • Millionaire traders value their performance in the market

One of the biggest distinctions between a successful trader and a losing trader, is that the former values performance whereas the latter primarily values money. When you value your actual trading performance in the market, you start focusing on all the right things and developing the proper trading habits that cause your performance to remain positive. When you value only money, you start to forget about all the things you need to do properly to improve your performance. Things like having a trading plan, being disciplined and not over-trading or risking too much per trade, holding your trades longer, placing your stops further away, etc. You value what you need to do to see your equity curve consistently go up.

You see, it’s impossible to value your trading performance and not also value the proper processes and habits that allow you to see your trading performance improve. But, when you start only valuing the money, you can easily forget that it’s not just about “making money”, it’s about SLOWLY making money over time. Because trying to make “fast money” always results in LOST MONEY.

Focus on performance, on the actual trading “game” and being good at it, not on the money.

The goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder

  • Millionaire traders value themselves and their abilities

Self-doubt does not help anything for the most part. Yet, time and time again traders will stare a perfectly good price action signal in the face and not take the trade, because they’re afraid, for one reason or another. They are doubting themselves and they are not confident in their ability to trade. Now, sometimes this is caused by just not really knowing what your trading edge actually is (which I can help you with in my professional trading courses), but often it’s just caused by overthinking.

One thing you’re going to have to begin doing right away is thinking and acting more confident in your trading abilities. Just like in life and in business, the confident players are typically the ones who come out on top, it’s the same in trading. I’m not saying you have to be some “outgoing prick” but you need to at least have solid confidence in yourself and your ability if you want to make money trading. Fear, insecurity and hesitation are not attractive qualities in relationships, business or trading; they do not attract people or money, so figure out how to drop them, quick.

This quote by famed trading educator Dr. Van K. Tharp discusses how to build confidence in your trading. First, you learn and study the markets, then you develop a refined trading strategy and then you practice it until you believe in it:

The top traders that I’ve worked with began their careers with an extensive study of the markets. They developed and refined models of how to trade. They mentally rehearsed what they wanted to do extensively until they had the belief that they would win. At this point, they had both the confidence and the commitment necessary to produce success. – Dr. Van K. Tharp

Side note: Being a “confident” trader does not mean you should be a “cocky” trader, and there’s a big difference. A cocky trader will take stupid risks, and too many of them. A confident trader will stick to his plan and execute his trading strategies when he sees his signal present, he doesn’t hesitate but he isn’t stupid and careless either. Hopefully, you see the difference.

I’ve written a multitude of lessons discussing trader psychology and behavior and how significant having the proper trading mindset is. Check out my article on the psychology of forex trading, to learn more.

How do Millionaire Traders Act?

Knowing how millionaire traders think about trading is only half of the equation, the other half is how they act in the market. As you may well know, it’s one thing to know something and an entirely other thing to put it into action and actually DO IT. So, I don’t want you to just read this lesson and think you “know it all”, I want you to actually put it into action in your trading.

  • Millionaire traders, trade less than you.

Anyone who’s followed me for any length of time has probably read one of my lessons on end of day trading and why you should do it and how powerful it is. But, let me just repeat it here: end-of-day trading is how most millionaire traders trade. How do I know this you ask? It’s easy. There simply aren’t enough high-probability trading opportunities in the market each day, week or month to allow most traders to day trade and become really successful at it. Furthermore, day-trading is often a catalyst for people to trade too much, risk too much and do everything else wrong. I really can’t say enough bad things about trading too frequently, if you don’t believe me, it’s only a matter of time before you find out through trial and error!

This quote by Jim Rogers is one of my all-time favorites on over-trading:

One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. Most people – not that I’m better than most people – always have to be playing; they always have to be doing something. They make a big play and say, “Boy, am I smart, I just tripled my money.” Then they rush out and have to do something else with that money. They can’t just sit there and wait for something new to develop. – Jim Rogers

  • Millionaire traders control their risk, carefully

Controlling position size is really one of the overall keys to trading success. If your position size is in-check then it’s going to go a long ways to calming your mind down and putting you into the proper trading mindset. Also, managing / controlling your position size is one good example of HOW you trade from a mindset of abundance and opportunity, instead of desperation, as I discussed earlier. Keeping your position size at the dollar risk level you know you’re OK with possibly losing per trade, means you’re staying calm and you’re Ok with whatever the outcome and you’re not trying to make “fast money”; you aren’t desperate.

As the following quote from the trading great Paul Tudor Jones highlights, we should be more focused on protecting our capital than on “making money”, because when you focus on being a defensive trader, everything else tends to “fall into place”.

“I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have” – Paul Tudor Jones

Conclusion

I want you to close your eyes and imagine that you’re already where you want to be with your trading. You’re making consistent money in the markets for a year, you have a plan you’ve followed to get here and you are comfortable with your risk per trade. You have no issues with losses because you know that as long as you stick to the plan, the wins will eventually make up for them and much more. Now, every time you sit down to look at the charts, before you turn on the computer, do this same exercise or similar. Every time.

Eventually, we do what we think about the most, whether those thoughts are positive or negative, hurtful or helpful to our goals. Hence, all of this, trading success, etc. starts in your head, as thoughts. I know it sounds cliche, but it’s true that “thoughts become things”, so be very careful what you are focusing on when you think about trading. Ask yourself, are you thinking about “dollar signs”, money and all the things you’ll buy with it? Or, are you thinking about your trading performance, about a consistently rising equity curve over time and about becoming a more calm and self-controlled human being? Start implementing positive trading habits and effective trading strategies. Fill your mind with positive yet realistic expectations about what is possible in the market and set sail on the journey of self-discovery and improvement that IS trading, and don’t ever look back.

Please Leave A Comment Below With Your Thoughts On This Lesson…

If You Have Any Questions, Please Contact Me Here.

Can You Really Become a Millionaire from Forex Trading?

There are some questions that are frequently asked by novice traders:

  1. How much money can I make through Forex trading every month?
  2. How many trade setups will I have every day and how many pips can I make every month?
  3. Can I start with a $100 account and grow it to a million?

Among all the frequent questions, there is one question which is asked by some novice traders more often:

Can I Become a Millionaire through Forex Trading?

I have two clear answers for this question and I explain about each of them in details:

Making lots of money through Forex trading is completely dependent on some special conditions.

When someone has the proper conditions, he can make millions through Forex trading.

When he doesn’t have the proper conditions, he will do nothing but wasting of time and money.

What Are Those Conditions?

You can increase your wealth and become richer through Forex trading and become a millionaire or even a billionaire.

However, if you are among those who want to turn a $500 or even a $5000 account into millions, then I have to tell you that you have to be patient enough.

I am not saying that it is impossible to make millions with Forex.

Anything is possible in this world.

However, you have to be patient, because it can’t be done overnight, or even in one year.

You will be faced with some challenges that finding a good broker that doesn’t cheat you is the biggest one.

Many Forex brokers (market maker brokers) don’t let you grow your account consistently, because in most cases, your profit is their loss.

Note: If you like to become a professional trader through learning the best and most accurate technical and fundamental analysis techniques, and gain the proper discipline at the same time, submit your email here:

Forex Is Not a Get-Rich-Quick Scheme

It is not too easy to make a living through currency trading. Someone has to teach you the right techniques, otherwise you can’t get anywhere on your own.

It is the same with the stock trading and all other kinds of tradings and investments.

To make money consistently through Forex trading and maybe to become a millionaire finally, you have to pass some important stages.

There are so many jobs that you can follow and become a millionaire.

It is not the job that has to make you a millionaire.

It is “you” who has to follow the job properly to become a millionaire.

For example, there are so many millionaire real estate agents and brokers in big cities like New York.

However, there are a lot more agents who cannot even cover their monthly expenses in the same cities.

All agents are in the same areas, have access to the same markets and customers, ruled under the same jurisdictions, use the same advertising media and… .

But, how can some of them become millionaires, and most of the others fail to have even one sale per month?

Whatever the reason is, it has nothing to do with the real estate business itself, because it is the same for all the agents and brokers.

The reason is in the agents and brokers behavior, life and work style.

Behavior, Life and Work Style

Forex trading is like that too.

It possible to become a millionaire through Forex trading, as it is possible to become a millionaire through stock trading, programming, marketing, importing and exporting, constructing, and…

The more important question is “how?”

There are two things that you have to do to become a millionaire Forex trader:

2. You have to develop the trading discipline in yourself.

You can’t become rich through Forex trading, without having these two at the same time.

It is not even possible to make a living without having the discipline, whether you master the trading techniques or not.

I’ve never seen even one single retail Forex trader who has become able to become rich or millionaire without following the proper techniques and having the discipline it takes.

Even I’ve never seen a Forex trader who has been able to make a living like this.

There is no consistently profitable and professional currency trader who doesn’t trades Forex with the proper technical analysis methods.

When you have a big capital, you can trade currencies through a bank account, instead of retail brokers. But most people still have to be patient to reach this level.

And, as bank accounts are not leveraged, you will trade with more peace of mind. But you should start small at the beginning.

Those who don’t believe in what I explained above can spend some time and money on Forex trading at least through having small live accounts with retail Forex brokers.

I am 100% sure that they will remember what I’ve explained above, and will be back to this site after wasting lots of time and money. The reason is that most novice traders start trading with real money before they do the above two things: (1) Developing proper techniques and (2) discipline.

Note: If you like to become a professional trader through learning the best and most accurate technical and fundamental analysis techniques, and gain the proper discipline at the same time, submit your email here:

How Can You Become a Consistently Profitable Forex Trader?

Unlike what most people think, it is not possible to start making money right after learning the Forex trading basics and a trading strategy.

There is something very important that most people don’t consider:

To learn how to trade Forex, become a consistently profitable trader and hopefully a millionaire, first you have to find a mentor who teaches you the currency trading techniques and help you to develop the discipline in yourself.

Additionally, you’d better to have an income that covers your expenses and leaves you some free time to sit at the computer and learn how to trade with peace of mind.

You can make any money through Forex trading and any other kinds of trading when you DON’T HAVE TO make money and you don’t have financial problems. Therefore, having a source of income is a big help. We help our students to earn while they learn. Don’t forget to submit your email if you don’t want to miss the train:

False Forex Success Stories

Most people think that they can learn to make money through Forex trading within a very short time, and become a full-time Forex trader who makes thousands or even millions of dollars.

This is is not true at all.

There are so many false Forex millionaires stories over the Internet.

Be careful not to be deceived by them.

None of the real millionaires or billionaires, like George Soros, have made their wealth through Forex or stock trading without following strong strategies. However, they are experienced business people who make a lot of money through several sources of income they have.

Then they invest a portion of their wealth in currency, stock, real estate… markets to increase their wealth: A Short Term Investment Strategy That Makes You a Millionaire

This is how they’ve become millionaires or billionaires. Their increase their wealth through Forex or stock trading while they have other sources of income.

Therefore, if you like to become a millionaire, first you have to have a good source of income that makes a reasonable amount of money that not only covers your expenses, but also leaves some money for your trading and investments.

Then you can start learning how to trade.

You have to keep on learning and practicing until you become a consistently profitable trader. That’s why we enable our trading students to develop a source of income too.

The Hassles of Following Too Many Trading Strategies

Some traders the hard way of following too many trading strategies, robots and time-frames, and sitting at the computer for several hours per day.

That is the hard way which can hardly take you to your destination.

The simpler and easier way is learning the Forex trading basics, and then a simple and strong trading strategy.

Then you have to master your trading strategy through demo trading.

When you succeed to make profit consistently for 12 consecutive months at least, you can open a small live account and start practicing with it.

If you can make profit consistently for 12 consecutive months with your live account too, the way you could make profit with your demo account, then all you have to do is that you keep on trading with your live account to grow it, or adding some more money to it. But don’t make your account too big. You will be faced with lots of negative emotions when you are still new and you want to trade with a too big account.

Note: If you like to become a professional trader through learning the best and most accurate technical and fundamental analysis techniques, and gain the proper discipline at the same time, submit your email here:

A Source of Income Is Really Good

To become a full-time Forex traders who makes money consistently, you have to spend some time. I already explained it above.

If you don’t have an income currently, or if your income is not enough to give you time and mind freedom to learn Forex, you should develop a source of income that covers your life and enable you to open a live account in the currency market when it is the time.

You can keep making money with your source of income until you are ready to open a trading account. If your income is enough to trade through a bank account later when you are ready to do it, it will be even better.

Trading through a bank account will have a lot more advantages compared to trading through Forex brokers.

The only problem of trading through a bank account is that you have to have a lot of money because banks don’t offer any leverage.

Therefore, to become able to trade through a bank account, you have to have a lot of money already.

That is why I emphasized on having a strong source of income earlier in this article.

If you want to become a millionaire Forex trader, you must have a good income and backup.

Turning a small $5000 account into a million dollar account is possible theoretically.

You can do it slowly and surely when you become a consistently profitable trader and you have enough patience. However, you have to be a patient and disciplined Forex trader to do it. And, you can’t do it alone. You need the mentors technical and emotional support.

Do It the Right Way:

1. You need to become a professional trader through learning the best and most accurate technical and fundamental analysis techniques. This is the only thing that makes you a professional trader who can consistently make profit.

We are going to launch a strong training course which is so affordable for everybody to join and start learning the best and most accurate technical and fundamental analysis techniques from the best of the LuckScout Team market analysts.

Submit your email to reserve your seat now:

2. In the same course, we offer some programs/systems to help the members to create a reliable and strong source of income while they are learning how to trade Forex.

While they are learning to become consistently profitable Forex traders, they create a good source of income through the other systems we introduce.

When they become consistently profitable Forex traders eventually, they have enough money to open live accounts or even professional live Forex trading accounts with the banks to trade professionally and increase the money they make.

This is how they can become millionaire Forex traders while they also have some other good sources of income to support their Forex and stock trading investments.

So, the answer of this question that whether it is possible to become a millionaire through Forex trading is in the facts that I explained in detail above.

Be careful not to be deceived by the scam mentors or brokers. They are there to make money from your losses, not to make you a millionaire.

What do you think about the above article?

  • It is great. I learned a lot and now I know what to do.
  • I thought it would be easier to become rich through FX trading. I am a little disappointed now.
  • I am confused.
  • I don’t think I am going to become a consistently profitable FX trader.
  • I am going to follow this site to learn more.

Published by

LuckScout Team

“Whether you think you can, or you think you cannot, you are right.” – Henry Ford View all posts by LuckScout Team

71 comments:

Hi
What are your thoughts on NZDUSD daily as a forming trade? I think the market is exhausted; strong break of BB; if current candle closes as strong bullish this looks a strong long entry. This is my first day of reading the charts per your strategy, so would welcome your comments. Thanks

Welcome to LuckScout.

The pattern is not strong enough so far. Let’s see how the current candle will close.

I was thinking about the same thing as Adam about NZDUSD, but NZDUSD just broke monthly support and has not really moved down yet, so I am not sure.

about USDCAD, for the last bearish setup you scored it 98. There is another one forming in daily chart.

Hi Adam & Stanley,

Both the latest setups you guys mentioned on Nzdusd and usdcad are not strong setup. Will be dangerous if we enter ��

Hi ,
This is my 1st comment on luckscout .. thanks for the gold valued articales.. i m still reading on ur articales .

As “Adam” mentioned above where we can see lower bollinger band breakouts On the NZDUSD ? even 14/02/2020 & 15/02/2020 candles are not in enough breakouts for strong trade setup …. 17/02/2020 candle also bit strong for bearish .. Please correct me if i’m wrong ..

Thank you, this article is another big motivation for us.
I would like to ask you about NZDUSD, I think on monthly time frame we are on support line, and on daily – nice bullish engulfing are forming with strong LBB breakout, but we must wait for closed.

I opened a short position on NZDUSD based on the DBB system on the weekly timeframe. Now, a bullish engulfing pattern is formed at the daily chart. I do no think that this setup is strong mainly due to the candle’s long upper shadow. However, what does this mean for my already open position? Should I close it due to the presence of the long setup (although weak) ?

Today most of my open positions (based on DBB) hit the SL. When I looked back I saw that in most cases there was a weak (no BB breakout or weak candles) setup formed with the last two candles.

Please consider this as a general question. I have read many times your strategy for maximising profits by opening two positions. Do you use a weak setup as an indication that it is time to close the second open position?

The upper shadows of the daily candlesticks tell me that Bears still have the control. So the price can go lower. However, holding or closing of the position is your own choice and is what you have to decide about.

> Do you use a weak setup as an indication that it is time to close the second open position?

When the position has made a good profit, yes. But when the trend is strong and the weak setup is just formed as the first reversal, then I hold the position.

As others have mentioned the USDCAD is looking like a potential trade but seems to have 2 negative points. Long tail on the second candle which seems to be because it is stuck on the middle band on the 4hr chart. It also seems like USDCAD still has a bit of steam behind it, with a constant zigzag in an uptrend movement.

So far it doesn’t look like a 100 gauge trade.

You are right. So far USD/CAD has not formed a 100 setup. Uptrend is still too strong.

Very nice article. Thanks for the motivation

I thought today would throw up some strong trade setups across a few of the pairs. But as we approached the close, many of the candles developed long shadows which voided most if not all the setups.

I can’t see any strong trade setups on the daily charts, although we may get a few from the yen crosses on the weekly very soon.

Do you agree? Or have I missed a pair?

I don’t see any 100 setup either.

Seems like AUD/JPY is about to touch 50 day moving average. Although MA is not steep but might have long setup ?

50SMA direction is good. We have to wait for the price to retest and forms a buy signal above it.

hi, just want to know if i should double my demo account before i go into live account? or i just have to be positive for 6 months ?

You have to be able to repeat your success consistently and consecutively for 6 months. If you double your account in this process, even better. However, depend on your trading style, you can make for example 5% profit per month which is great. You have to repeat the 5% profit every month for 6 months at least. If so, your account will not be doubled, but you have repeated your success consistently. This is what you have to do.

Hi, thank for the sma50 system. It is really simple to understand but to use it in trading need some guide and practice. Last month there is no 100 score set up, is it normal for your point of view?

You are welcome.

It happens rarely that a month comes and goes with not even one 100 setup. Fruitful months will always come.

We will share more strong trading systems little by little that enables the traders to have trade setups every month.

I located a triangle pattern on EURJPY 4H and it broke above resistance line, it went up but then it went down recently. I located 2 S/R Lines (closed price & high/low price), but I got confused whether this pair has broken the support line (which shows that the resistance line wasn’t valid), or it’s just currently retesting the broken resistance line? I know I can wait to see how it goes later, but I guess something similar will happen again one day so I would like to hear an opinion from an experienced trader like you. Thanks a lot!

Support lines look OK, but the resistance line doesn’t look like a valid resistance, because the second point that you used to plot the line is too far from the first point and it is not chosen from a strong high. The high has to be stronger.

In spite of this, the upward movement was not that bad. We cannot expect to see a too strong trend forms after each breakout.

Reference to the resistance line: So when you say “the high has to be stronger” means candle need to be big regardless of whether its bullish/bearish.

Also, as you can see market actually reacted to these lines. I originally thought that as long as market react to your lines it is valid

It is not only the matter of the candlesticks size. Several candlesticks has to participate in creating a high or a low. The “peak” and “valley” has to be strong and more visible than the other highs and lows.

Price can react to any line, as weak trade setups also make the price move accordingly. But we wait for the too strong trade setups to have a higher success rate. Therefore, we have to follow the strong lines too.

It sounds like LuckScout will be alive for quite some time. I am sure to follow till the last day!!

Thanks once again.

Thank you too Ted.

thank you so much sir for your priceless lectures. my question is this: how were you applying the lot size(s) to grow the $1000 account to multi millions in five years, in the use “this calculator” you published. i found that info extremely helpful. please i would appreciate your reply. thank you sir.

You are welcome.

The lot size is not considered in that calculator. It merely calculates the balance and monthly income based on the monthly profit a trader makes.

This is great, but almost every trader say it’s impossible to make more 3%/month, is it because they have too many lose trade due to over-trading or because they find little opportunity to trade in a month?

How do you know that they are traders?

I’ve gotten a 400% return on my investment within a month. Just because you failed. Doesn’t mean everyone does.

Good for you. Please kindly show us your complete track record, so that everybody can believe you.

Something you really have to be careful about is that if you have grown your account for 400% within a month, then you will most probably wipe out the same account the next day, week or month. If you are new to this, I have seen this numerous times. The market is always there to teach nice lessons to the overconfident novice traders ��

Thank you for this article and your motivation words ��

I believe it’s possible to become a millionaire trading , with accurate education and discipline as taught by Mentor. Thanks Boss, God bless you.

Hi, what advise will you give to someone who is dying to join the Millionare’s Club but cannot because the £99 per month constitutes almost 35% of his monthly income? Thanks for your good works

Sorry to hear that the monthly fee is not affordable for you. Of course it is not £99. It is $99 ��

We will think about a solution for people like you.

Thank you for following us.

You made a comment about brokers not letting you make a lot of money trading. How do you feel about futures and your strategies. CME and the futures markets are a lot more regulated in the US. My CM account is being closed so I’m researching where to open a new account.

Experience have proven that regulation can’t prevent the brokers from cheating the clients. Therefore, you’d better to start with a small account to test the water first.

It was very depressing news when I heard on Feb 9 that CM is being forced out of the US markets.

I have an account with them since Jan 2020, not a long time, but they seem to be okay and their spreads are pretty good – much better than those of.com (a subsidiary of GAIN Capital) where the accounts will be transferred. Now retail traders in the US have even fewer choices while the remaining brokers rejoice over the demise of one of their largest competitors so they can consolidate even further.

Goldman Sachs was recently ordered to pay a $120m fine by the CFTC for attempted manipulation and false reporting of ISDAFIX benchmark rates, a global benchmark for interest rate products.

Wells Fargo was caught late last year creating millions of fake accounts for their customers so they could charge them fees. I don’t remember much happened to Wells Fargo as a consequence of such frauds other than the CEO testifying before Congress and some employees fired.

I don’t think what CM did was worse than what Goldman and Wells Fargo did, but the big banks got off with not even a slap on the wrist while CM was forced to close up shop in the US. Where’s the standard in enforcement when apparently the regulators can do whatever they want and not have to account for their actions? Too bad CM, like most businesses in the US, does not have people in high places, or they didn’t make the right donations, and the result is they can lose everything overnight that they have spent years building.

Thank you for the insightful article. I also had to read to all the interesting comments by your followers and your brilliant response.
You mentioned in the article that retail brokers do not allow clients to grow their investments and most of the time trade against clients. How can retail traders with the right discipline and education deal with such unjust acts by the brokers? I am an advocate of compounding on an account and would not like to victimized by my brokers for trying to grow my investment on their platform after all they are making a lot of money from spreads.

Hi..am actually new here and I wanna ask what is sma50,is it a strategy? And how does it work
.I have a practice account on IQ option… I will be expecting ur response thanks

Sorry for that “Hikar” I just mentioned above. Just wanted to see if the comments work without subscribing. I am a fellow South African , n trotse Afrikaner , so excuse my English.

Your book you wrote above is so beautiful and so inspiring. I really found interest in it as for it is interesting to see what others think about the stock market . I completely speak out of no experience . 2 weeks in the trading industry with only demo accounts on some trading software, I will completely deny upon your opinion.

Hundreds of thousands of rand/dollars/euro’s ( whatever it might be ) run’s through this world and for me to know where it is, depends on my knowledge. There are either a winner or a loser and I never lose. Whom ever started the trading marketing might be filthy rich, but still, does he have the wealth to maintain??

That’s why there are dependents that study and master the trading industry to prove negative people wrong and don’t get me wrong, I do not say your opinion is false, although everyone has their own opinion, it is all about what you make of it? Do you believe in yourself? Do you believe you can achieve more than other can.

Trading is a very interesting, exciting and attractive industry. Give me minimum 1 year and I will pay of all your dept and give you the life you deserve. Always trust yourself and believe the impossible is possible.

Кто стал миллионером на Форекс?

Кто стал миллионером на Форекс? Правда о трейдинге

Интернет переполнен рекламой в духе: «Я стал миллионером на Форекс за месяц, это легко и просто!» Люди, которые слабо понимают, что такое международный валютный рынок и торговля на нем, зачастую воспринимают подобные утверждения всерьез.

Но стоит ли верить этим красивым обещаниям? Можно ли стать миллионером, зарабатывая на разнице в курсах валют, или это все очередной лохотрон? Попробуем разобраться в этом вопросе более подробно.

В погоне за миллионом: что такое трейдинг?

Прежде чем открывать реальный торговый депозит и рисковать собственными средствами, необходимо детально разобраться в том, что такое Forex. Это крупнейший рынок по продаже и покупке валюты, действующий на 5 континентах практически круглосуточно. Исключение — выходные дни и праздники, но это зависит от каждой конкретной страны.

Пока на другом конце света спят, в Новой Зеландии, а затем и в Австралии открываются биржи. Форекс крупнее фондового рынка и площадки, на которой торгуют бинарными опционами. Здесь больше всего участников и денег — ежедневный оборот достигает фантастических размеров в 3–4 триллиона долларов.

Логично, что с таким количеством ликвидности и набором возможностей на Форексе есть миллионеры. Однако не стоит рассчитывать на быстрый и легкий путь к обладанию таким капиталом. Тем более не следует верить рекламным обещаниям сделать миллионера из любого новичка за месяц. Трейдинг — это не игровые автоматы и не рулетка, а конкурентный бизнес со своими правилами, рисками и перспективами.

Как организована торговля на Форекс?

Помимо трейдера, который может торговать на собственные деньги или средства инвесторов, на Forex работают брокеры, дилинговые центры, банки, фонды, аналитики и т. д. Каждый из них преследует свою цель и обладает собственным набором полномочий.

Влияние на биржу, курсы и котировки также оказывают центральные банки различных стран, в первую очередь Федеральный резерв США. Это всемогущее ведомство всегда в центре внимания участников торгов. Повышение или понижение процентной ставки ФРС сразу отражается на курсах валют.

Сам по себе Форекс не имеет единого центра управления и представляет собой один из самых ярких примеров глобализации. Есть несколько центров принятия решений, которые открываются вместе со сменой часовых поясов в рамках трех торговых сессий:

  • Азиатско-Тихоокеанской;
  • Европейской;
  • Американской.

На третьей площадке сконцентрировано больше всего участников и денег. Трейдер сам выбирает, где и когда ему работать, ведь все, что нужно для открытия позиций — компьютер с Интернетом. Чаще всего используется терминал MetaTrader, советник, индикатор, осциллятор. Для составления прогнозов читают графики и выполняют два основных вида анализа — фундаментальный и технический.

Миллионеры на Форекс действительно есть?

Безусловно, но их путь к этой цели занял годы. Многое зависит от выбранной торговой стратегии — набора принципов, на основе которых заключаются сделки и распознаются сигналы рынка. Например, Ларри Вильямс, разогнавший свой депозит с 10 тысяч долларов до более чем миллиона, в течение 5 лет использовал стратегию скальпинг.

Другой известный трейдер-миллионер Александр Элдер в своих многочисленных книгах рассказывает о психологии биржевого дела. Ожидания участников рынка действительно крайне важны, однако они не всегда поддаются экономическим и даже логическим законам. Одно и то же событие в разных ситуациях может быть интерпретировано совершенно иначе.

Научиться торговать на Форексе может каждый — было бы желание!

Не стоит бояться валютного трейдинга — этому можно научиться без специального образования и крупного капитала. Самое сложное — начать с нуля, преодолев свои комплексы. Компания LiteForex поможет в этом! Посетите наш бесплатный вводный курс по основам профессии трейдера. Регистрируйтесь на сайте LiteForex прямо сейчас, чтобы уже сегодня получить первый комплект учебных материалов: вебинары, семинары и практическое руководство для новичков!

Насколько реально стать миллионером на Форекс?

Начиная работу на рынке Форекс, мало кто из трейдеров не мечтает суметь заработать на этом виде биржи миллион. Однако в начале пути такая перспектива выглядит скорее призрачной, чем реальной. К тому же в сети редко когда можно найти имена тех, кто на самом деле смог стать, миллионером торгуя на рынке Форекс.

И все же мало информации не означает что невозможно. Это подтверждается историей Ахмада Арифа, который за неделю смог увеличить свой депозит с одной тысячи долларов до миллиона, то есть стал миллионером на Форекс. Правда, такой быстрый результат возможен в очень редких случаях. Люди, заработавшие на рынке миллионы и известные широкой общественности, в основной своей массе посвятили этому не один год своей работы, а результат был, достигнут путем постоянного обучения и увеличения опыта.

Как же подняться на Форексе?

Вопрос заработка на Форексе весьма занятен. Нет какого-то одно рецепта для того чтобы встать в ряд тех кто поднялся на Форексе, к тому же сколотить миллионное состояние. Путь этот долог и тернист. Каждый, кто имел серьезные результаты на бирже, сталкивался хоть однажды с полной потерей депозита. И к такому событию нужно быть готовым, насколько неожиданным оно не было.

Категория тех, кто смог заработать серьезные деньги, будучи новичком, не так обширна, и чаще всего это на все сто процентов связанно с удачей, которая является частью успешной торговли, хоть и проявляется она у каждого в разной степени. То есть, не имея никакого опыта торговли, не стоит на веру принимать сомнительные истории, так как тот же Ахмад Ариф весь свой миллион потерял за такой же короткий срок, как и заработал. Причиной тому можно назвать неопытность трейдера.

Получается, что нужно не только суметь заработать на рынке, но еще и удержать свой заработок. Что очень сложно делать, когда нет необходимых знаний. Встает вопрос как же быть?

Начиная путь к успеху

Как и в любом деле, начинать торговлю на форекс нужно с обучения основам торговли, основных терминов и понятии и прочие теоретические знания. Выбранная новичком система обучения должна включать еще и практические занятия. Их цель это оттачивание навыков торговли и их развитие.

В рамках статьи можно описать некоторые основные моменты, которые чаще всего затрагиваются при обучении:

  • Структура рынка;
  • Факторы, влияющие на формирование и движение цен;
  • Виды прогноза поведения рынка;
  • Изучение торгового терминала;
  • Способы выставления, коррекции и удаления ордеров по сделкам;
  • Обучение риск менеджменту.

Рассмотрим каждый пункт более подробно.

Структура Форекс

Путь к успеху новичка лежит через осознание того, что он является частью всей структуры, при этом не самой значимой. Рынок состоит из двух категорий игроков:

  • Ценообразующие и формирующие тренды;
  • Зарабатывающие на изменениях рынка, в результате действия первой категории.

Среди тех, кто влияет на цены и их движения выделяют следующих участников:

  • Центральные банки стран и различных союзов;
  • Крупные экспортные компании;
  • Валютные биржи;
  • Крупные инвестиционные компании;

Именно их действия могут спровоцировать зарождение сильных трендов, и не спрогнозированные изменения цен.

Вторая категория определяется:

  1. Брокерскими компаниями, предоставляющими посреднические услуги между теми, кто хочет инвестировать и рынком за определенную плату, которая определяется тарифами компании;
  2. Трейдеры, которые желают заработать на текущих и возможных колебаниях.

Эта категория участников, ни каким образом не влияют на рынок, а могут лишь получать определенную выгоду, а в случае ошибок, наоборот терять собственные средства. Так что осознав свое место на рынке, понятна категория тех за кем нужно пристально наблюдать, а проявление внимательности к важным моментам может сделать торговлю новичка максимально эффективной.

Факторы, влияющие на рынок

Успех на рынке зависит и от знания факторов, которые провоцируют изменения цен валют. К таким факторам относят новости, которые способны в корне изменить текущее состояние. Все новости можно разделить на ожидаемые и неожиданные.

Ожидаемые новости в свою очередь делятся на:

  • Важные;
  • Средней важности;
  • Незначительные;
  • Не имеющие никакого влияния на рынок.

Такая градация позволяет заинтересованным лицам отслеживать те, что достойны по-настоящему внимания, с этой целью применяют экономический календарь. Отметим, что наиболее значимыми являются:

  • Новости по публикации различных экономических и статистических данных по экономикам развитых и развивающихся стран;
  • Геополитические новости;
  • Данные по индексам;
  • Данные связанные с нефтедобывающими регионами.

Особенно сильно реагирует Форекс на новости из США, так что желающий действительно зарабатывать на Форекс всегда должен держать во внимании и их. Важно так же понимать, что очень сильное влияние имеют те события, которых никто не ожидает, а именно:

  • Катаклизмы в природе;
  • Техногенные катастрофы;
  • Теракты, перевороты и путчи.

Несмотря на невозможность предсказать такие события, большая часть новостей поддаются анализу и прогнозу, но что делать, когда значимых событий нет. И все же рынок не умирает.

Анализ рынка

Заработок не возможен без знаний и в дальнейшем без изучения методов анализа рынка. На сегодня применяют два основных способа:

Технический анализ

Технический анализ подходит в период отсутствия событий, способных значительно повлиять на движение цен. Этот вид анализа строится на принципах:

  1. Цена всегда имеет направление;
  2. Рынок механизм цикличный, то есть история повторяется;
  3. Цена учитывает все.

Построение техники возможно несколькими способами:

  1. Визуальный анализ с целью обнаружения фигур указывающие на возможные изменения цены;
  2. Осцилляторы и трендовые индикаторы, встроенные в торговый терминал;
  3. Анализ баров и свечей.

Фундаментальный анализ

Фундаментальный анализ включает только учет значимых для конкретной валютной пары новостей, которые могут полностью разрушить любую технику.

Возникает вопрос как же быть? Применения комплексного подходы к рынку сделает вероятный результат более реальным. Однако этот вариант очень сложен, и прежде чем к нему прийти стоит все же научиться торговать с применением техники, только вооружившись достаточным опытом включать в свою торговлю еще и новости.

Торговый терминал

После изучения необходимой теории, нужно отточить свои навыки в торговле, для этого используют демо-счет. Именно на нем можно досконально изучить терминал и научиться, в автоматическом режиме, работать с ордерами на совершение сделки. Ведь порой любое промедление может стоить прибыли. Риск менеджмент будет лучше усвоен только при торговле на реальном счете, что для новичка, может окончиться провалом, поэтому имеет смысл воспользоваться центовым счетом, где риск потерь минимален. Только после достижения стабильных результатов на таких счетах новичку можно двигаться дальше к своему первому миллиону на рынке.

Содержание данной статьи является исключительно частным мнением автора и может не совпадать с официальной позицией LiteForex. Материалы, публикуемые на данной странице, предоставлены исключительно в информационных целях и не могут рассматриваться как инвестиционный совет или консультация для целей Директивы 2004/39 /EC.

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