Introduction

In forex education, success stories of great traders have always been motivating. Self-made traders who broke the framework and reached great levels.

The new year is a great opportunity to set future goals, plan and boost your spirits. And what can be more inspiring than other people’s success stories? The forex market is a place where anything is possible. In this article, 5 stories of famous traders are given, each with a completely different background from the other, but they all have one thing in common: success.

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Edward Arthur Cicotta: The father of trading systems

This person made his first trade at the age of 5! A child from an immigrant family who left the Netherlands for America traded a gold medal with his neighbor for five magnifiers.

Cikota is known as the father of trading systems. In the 1970s, when he started trading, he was fascinated by the idea of ​​an automatic mechanical money printing machine and technical analysis.

He designed a mechanical algorithm for trading systems and used computer coding for his trades. The profit he made in the account of one of his clients is still considered a great record. The amount of profit he recorded using a trading robot between 1972 and 1988 reached more than 25,000 percent. That is, Sikota’s client had earned 15 million dollars from 5000 dollars capital. This result cannot be random and by chance, but was the result of a calculated algorithm.

The rules I follow in trading are: 1- Reducing losses 2- Maximizing successful trades 3- Keeping trading volume low 4- Following the rules, without question 5- Knowing when to break the rules .

Ed Cicotta

Read more about Ed Cicotta

Ingeburga Motz: Million Dollar Grandmother

If Ed Cicotta started trading at the age of 5, Motz represents another age spectrum in the forex market. Some grandmothers are busy baking cakes, and others are trading with the intention of becoming millionaires.

Ingeburga Mutz is a 96-year-old millionaire who at least 15 years ago was just an ordinary German widow. But today he is considered one of the well-known personalities of Germany.

He was born in a poor family and in order to escape from poverty and misery, he got married very soon at the age of 17, but contrary to the imagination, he was not freed from poverty. Until the age of 75, he had to beg his wife for every German mark. Whenever she wanted to do something, her husband would stop her and call her a stupid old woman who has no intention of making money. But one day he got very angry and said: “If you think I can’t handle anything, I will go and trade in the market.” And it was not a lie.

After the death of his wife, he found 1000 shares of the company where he had been working all this time. He decided to be brave and take risks and end his poverty and misery forever. He had made the right decision . This energetic old lady made more than 500,000 euros during her first 8 years of trading.

His trading style is commendable. He does not use any of the trading tools and signals and the Internet. He reads everything he needs to know from newspapers. If you are curious and interested to know how this trading method has earned this old lady millions of euros, check out her book titled “Stock Market Detective”.