Foreign exchange trader wealth creation history - 12 months wealth 10000 times

a once active forex trading site t forextradingbrokerwebsite Wall Street trader not long ago in Shanghai to share with investors his short time wealth 10,000 times the experience - the initial arrival in New York only from the credit card cash 400 U.S. dollars, 12 months later has become a very good trader, forextradingwebsiteonline from the You can look at the recent "London Whale" or Libor manipulation case news such as the direct control of a large amount of money in life, let people feel cashback forex there must be a lot of ups and downs, of course, this ups and downs are not limited to huge losses or fraud and other news they The speed of wealth creation, whether for the company or for individuals, is also very amazing a former Wall Street trader shared with investors in Shanghai not long ago his experience of 10,000 times his wealth in a short period of time - initially arrived in New York with only $400 from credit card cash, 12 months later has become a very good trader, and from the The Malaysian spent his childhood happily at the beach, and went to Australia to work and study during his secondary school years. After graduating, he immediately flew to Wall Street, where he had always wanted to work, although his initial impression of the street was "Ah, its so small". After doing many chores, including waitressing in restaurants, pizza delivery and book sales, he was finally accepted into a small stockbrokerage firm where he was paid $1,250 a month, about half of which paid for rent. In order to survive, Li applied for a part-time job as a night foreign exchange trader at a Wall Street firm, working from 7:30 p.m. to 12:00 p.m. He had to bring a toothbrush to work for this reason. After that loss, he felt that before trading he had to think about how much he could accept to lose, which meant setting a stop-loss point, and after having some savings, Li Tongyi used his $15,000 to open a foreign exchange account, even though he said in his book that the starting point for investing in foreign exchange is at least $50,000. Leverage, which is the reason why speculation in foreign exchange can accumulate a lot of gains in the short term, if you use 100 times the leverage, that is, $ 1,000 can pry 100,000 dollars worth of contracts, gains will be magnified 100 times, however, losses are also the same, if the account funds are very small leverage and put a lot, the money is likely to be flushed away losses like being thrown into the toilet means that life will not be secure, so he was very careful to use Although this small account was a bit out of the blue, that month, the fifth month of Li Tuangyis arrival in New York, ended up earning himself a 38% gain after a small success, his colleagues also put together some money for him to take care of, and the account slowly became huge, but he reminded himself not to overtrade his passion for In the 11th month, Li Tongyis account has $7.5 million, but only 25% of it, according to 100 times the leverage can buy 100,000 U.S. dollars of the contract a total of 1,875 lots, he hoped to be in the euro against the U.S. dollar market at that time to earn 150 points per lot, so he was keen to make plans before trading, because the reality is that not every lot can make money. He hoped to earn 150 points per lot in the euro-dollar market at that time, so he set a buying and selling price for himself, and eventually managed to earn nearly $3 million and get half of it as dividends Li Tongyi had good results in trading the yen, in 2001~2002, the dollar fluctuated against the yen in 100~110, during which he made a lot of money buying low and selling high, but he thought that people who do trading cant be paranoid about a certain currency, every Currency every market is the opportunity of discipline to determine the success or failure of investment traders generally do not exceed 40 years of age, career is not long Li Tongyi has slowly from full-time traders gradually retired to management, now he is mainly responsible for financing and wealth management, in China, the United States, South America and Southeast Asia, these regions run around but he did not completely give up foreign exchange, as he said " Trading has always been in my blood," Li said as a traders experience, sounds like no different from others, caution, restraint, execution and stop-loss, but when asked whether it takes talent to do forex trading, he insisted that hard work or most of it, perhaps coupled with interest and ability to withstand the data in front of the results does not sum up the life of a trader. Foreign exchange trading is almost 24 hours, which means that foreign exchange traders need to spend a lot of time every day sitting in front of the computer screen, watching the movements of the exchange rate and to collect all kinds of news, eating or going to the toilet may miss trading opportunities trading will take up a lot of time, which may make the life of a trader very monotonous a securities analyst who has worked as a trader has told reporters that traders are very boring life A group of people, basically hanging all day and night on the Internet "when I was a trader, no life" said Li Tongyi trading the first two years, he had to spend nearly 16 hours a day staring at the screen at that time, the trader shift, divided into three shifts, early morning, morning, afternoon, depending on the companys allocation, after arriving at the company, the first thing to do is to collect data, there will be a lot of data waiting for him, for example, must know the day the Greek riots ended or not, who will be president tomorrow, the Federal Reserve to raise or cut interest rates, the appreciation or depreciation of the yuan, GDP, CPI, PPI ...... look at the data before making plans, making transactions, three things often have to be done at the same time. He had made a very detailed trading schedule for himself, including what time to get up and go to the bathroom, and he believes that discipline is the key to success or failure in investing. Although he is no longer a professional speculator today, the habit of punctuality has been retained, and he proudly describes his sense of time as being like a German. For example, the reporter often contacted a bank trader, holiday will always be in the office to work overtime to collect information they make money is not easy, Li Tongyi also said, as a trader, the weekend he and his colleagues sometimes from 9 pm to 6 am the next day has been discussing the market situation there is no free lunch, Li Tongyi said, when he was a child, he thought to I think different age groups do different things, when you are young you can do anything, now you cant trade your health for money. He believes that those indicators and data from various media may sometimes increase the chance of making mistakes, but receiving all kinds of information is a necessary process, regardless of which method of operation, the fundamentals - such as Chinas "18th National Congress", the progress of the European debt crisis and whether Obama can be re-elected, these things must be known in retrospect. In addition, his interest and tolerance should also be an integral part of trading, as Li mentioned that he has been particularly fond of economics since he was a child, and was first in his economics class in high school. In addition, the ability to withstand is very important, in the market is sure to lose money, no ability to withstand may have given up very early