Hearing about others’ successes in trading can be a great source of inspiration to continue with your own journey. So - on this page we bring you a selection of successful forex traders’ stories…
Successful forex traders’ stories
When Ivan first started trading with BluFX, he saw a lot of fluctuation in the first two months and wasn’t able to consistently make a profit. However, after the third month, Ivan reached his 5% profit target and withdrew the amount to his account. He then went on to make a 10% profit in two months.
From there his profits began rolling in: after reaching our 100k account, he made the next 10% profit in only a month and a half. Ivan then grew his account from 200k to 235k in just two months.
In total, his journey from zero to one million lasted a hugely impressive six months - and Ivan became a BluFX one million fund manager. Ivan’s journey is proof that perseverance and hard work to develop your strategies pays off!
Interested in becoming a BluFX fund manager? Read more about Ivan’s journey on our blog, Becoming a BluFX Fund Manager.
Kyle started trading while he was in college but it was a rollercoaster of profits and losses. On some days, during classes, he would make $5,000 only to lose $10,000 a few hours later. But he persevered and refused to let his emotions get in the way.
He received an email one day from his trading partner saying that he had managed to turn $30,000 into $2,000,000 in only three months. Together, they continued trading and made major profits.
Read more about Kyle’s story and advice on How to Make (and Lose) $2,000,000 Day Trading.
Angela never dreamed of trading until her best friend recommended it to her after seeing her talent.
Her road to trading success, however, was not straightforward: one morning, as soon as CNBC announced an enterprise software company she held had accounting issues, the stock dropped 100 points in 10 minutes. She dumped her 200 shares for a huge loss.
These losses taught her to endure market volatility and helped her to develop a healthy trading mindset. From 1998 to 2000, Angela’s initial trading funds increased by over 800% for a huge $150,000 gain - proving that losses are an essential part of trading to build experience and mental strength.
You can read more about Angela’s trading story on The Balance, From Beginning to End: A Successful Trader’s Journey.
In 2007, Ross’ investments were losing value and his losses were off-setting his income. He decided to start day trading with his own money to try to make some profits. His goal? To make $200 a day during his first year of trading.
Success, however, didn’t come straight away - in the first two years, Ross failed to meet that goal - it took a year and a half before he managed to find any success at all. His losses over this period totalled a huge $30,000.
So - how did he turn his fortune around? Ross began to keep a diary recording each loss and he found that each day a stock was making a 20%-30% move, which formed the basis of the momentum trading strategy he followed.
In 2016, Ross opened an account of $50,000 and, in only three months, made a staggeringly impressive profit of $94,119.54.
You can read more about Ross’ story in The Huffington Post here: Day Trader Makes $94,119.54 in 3 Months.
Successful day traders’ stories: key takeaways
What these stories prove is that trading is not plain sailing: it can take time to begin to make a profit.
What unites the stories above is that each of the traders experienced losses before making a profit, but they persevered anyway - and this perseverance eventually paid off, showing that profit does come to traders who can demonstrate patience and resilience.
Losses are an inherent part of trading - but these traders show that it’s how you deal with them that counts.
Here are the three key takeaways from the success stories above:
- Perseverance is key
- Losses are part of the trading process
- Profits come to those who are patient
Wondering how to be as successful as these traders? Discover the top trading strategies next on the blog!