Are there any full-time traders that are living off the FOREX profits? | Forex Factory

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Are there any full-time traders that are living off the FOREX profits?

  • #1
  • First Post: Oct 3, 2006 1:35am Oct 3, 2006 1:35am
Hi Guys,

I have a question to all those who are full time traders?

How long have you been full time trading?

Are you earning enough money, not to work a second job?

Is it worth it at the end of the day?

Any comments will be much appreciated.

Regards

Simon
  • #2
  • Oct 3, 2006 1:43am Oct 3, 2006 1:43am
I dunno if i count or not... You see i am a full-time trader in a sence that i do forex full time. But I'm still in demo training and am living with relatives; So im not making any money yet.
  • #3
  • Oct 3, 2006 1:47am Oct 3, 2006 1:47am
Quoting ShaderZ
I dunno if i count or not... You see i am a full-time trader in a sence that i do forex full time. But I'm still in demo training and am living with relatives; So im not making any money yet.
Thanks for the reply ShaderZ

I meant real live account holders who have no jobs but Forex and live off the profits that they make.

Regards

Simon
  • #4
  • Oct 3, 2006 6:28am Oct 3, 2006 6:28am
Darkstar just posted over in the Members' lounge that he went full-time recently. I believe the thread was titled "As of today" or something like that. Anyways, I am not living off of forex profits as I am a student right now. There are probably a handful or so of pros on this forum.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #5
  • Oct 3, 2006 7:00am Oct 3, 2006 7:00am
  •  Carlos
  • | Joined Sep 2005 | Status: Commitment, planning and discipline | 65 Posts
I trade fulltime and i make healthy profits... FX could cover my cost of living, but i reinvest all my profits. Whether someone can afford to live off their FX profits may also depend on the size of their account and not necessarily their ability as a trader. Perhaps if i lived in some other city than London i could live like a king!!!!

Happy trading...
  • #6
  • Oct 3, 2006 7:34am Oct 3, 2006 7:34am
Yes, I trade full time. I have in Forex for 3 plus years. I have been trading other markets since 1988. Trading is not something one learns over night.

It is true I own another business that I have had for 20 years also, but I do make good income from trading.

It took me 2 years before I began to understand Forex and futures. I think I will always be a student, though.
  • #7
  • Oct 3, 2006 9:35am Oct 3, 2006 9:35am
Quoting adam3000
when graduate from the univsersity (computer science), i decided not to become a network engineer ,

I will be a fulltime trader , and after 2 years , i have known how to double my account and my clients account
Awesome job! I too got my Masters in Computer Science, and decided not to use it. Who needs it?
  • #8
  • Edited 8:00pm Oct 3, 2006 7:43pm | Edited 8:00pm
The size of your account is without question one of the determining factor as to one’s ability to live off of your forex trading. I’m currently not able to live off my account but I do know some who can. Their account is over 200,000 and they live very well. I do know they started with 5 to 10k in their trading account. It takes most people 6 to 24 months to learn how to be profitable in the forex.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

randyrv

Earn more interest in a MONTH
than the bank pays in a YEAR!
  • #9
  • Oct 4, 2006 2:00am Oct 4, 2006 2:00am
Quoting Randyrv
The size of your account is without question one of the determining factor as to one’s ability to live off of your forex trading. I’m currently not able to live off my account but I do know some who can. Their account is over 200,000 and they live very well. I do know they started with 5 to 10k in their trading account. It takes most people 6 to 24 months to learn how to be profitable in the forex.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

randyrv

Earn more interest in a MONTH
than the bank pays in a YEAR!
Thank you everybody for your replies......

Happy Trading.
  • #10
  • Oct 4, 2006 3:04am Oct 4, 2006 3:04am
Quoting Randyrv
The size of your account is without question one of the determining factor as to one’s ability to live off of your forex trading. I’m currently not able to live off my account but I do know some who can. Their account is over 200,000 and they live very well. I do know they started with 5 to 10k in their trading account. It takes most people 6 to 24 months to learn how to be profitable in the forex.

<o></o>

randyrv

Earn more interest in a MONTH
than the bank pays in a YEAR!
So are you guys saying that the higher the money in a trader's account, the more easy and higher the profit they make ?
  • #11
  • Oct 4, 2006 3:55am Oct 4, 2006 3:55am
Quoting ladex142
So are you guys saying that the higher the money in a trader's account, the more easy and higher the profit they make ?
Yes, it is easier to manage larger account as you have the power to hold position. As long as you are strict to money management, i dont think it is a problem to make $$ at the end.

I myself are full time trader since a year ago, manage my own money as well as my clients account. But same as scott, i do have other business. So far, all going well. Goal of my life is to retire young and rich.
  • #12
  • Oct 4, 2006 5:32pm Oct 4, 2006 5:32pm
Quoting ladex142
So are you guys saying that the higher the money in a trader's account, the more easy and higher the profit they make ?
Actually, the more capital, the less you have to risk to make the same money.

When you get up to around $250,00 - $500,000 and up, you will find that 1% risk nets you a very large amount of money.
Mr. Trend
  • #13
  • Oct 4, 2006 6:31pm Oct 4, 2006 6:31pm
Quoting simon_221175
Hi Guys,

I have a question to all those who are full time traders?

How long have you been full time trading?

Counting Equities? 6 years. Just Forex? 3 years.

Are you earning enough money, not to work a second job?

Yes.

Is it worth it at the end of the day?

Beats digging ditches or admining networks.

Any comments will be much appreciated.

Regards

Simon
.
Secret Identity: Bill Sullivan
  • #14
  • Oct 22, 2006 3:59am Oct 22, 2006 3:59am
Quoting adam3000
when graduate from the univsersity (computer science), i decided not to become a network engineer ,

I will be a fulltime trader , and after 2 years , i have known how to double my account and my clients account
I wish you continued success!
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #15
  • Oct 22, 2006 4:07am Oct 22, 2006 4:07am
I have traded for two years and I do trade full time. I trade 9 currency pairs and I am stuck to the display for many hours during the day.

When the day comes when you ask yourself if you should quit your job and trade full time, the answer is not easy. It takes a lot of soul searching. I made the leap and am glad I did.

Set your goals and tell yourself that you will be trading full time one day.

Good Luck!
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #16
  • Oct 23, 2006 10:46pm Oct 23, 2006 10:46pm
Quoting CTGUY
I have traded for two years and I do trade full time. I trade 9 currency pairs and I am stuck to the display for many hours during the day.

When the day comes when you ask yourself if you should quit your job and trade full time, the answer is not easy. It takes a lot of soul searching. I made the leap and am glad I did.

Set your goals and tell yourself that you will be trading full time one day.

Good Luck!
Hi Ctguy,

Thanks for the message.

I am taking the leap in two weeks time.

Regards

Simon
  • #17
  • Oct 24, 2006 6:25am Oct 24, 2006 6:25am
You mean you are quitting your job and going full time in a couple weeks?!?!? :surprised

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #18
  • Oct 24, 2006 7:02am Oct 24, 2006 7:02am
Quoting andersenws
You mean you are quitting your job and going full time in a couple weeks?!?!? :surprised

andersenws

I sure hope not! Simon, if you're smart, you'll keep your day job and switch to daily charts and "swing trade that bitch."
So far so good.
  • #19
  • Oct 24, 2006 8:28am Oct 24, 2006 8:28am
Hello,

Scared Money In FX will always LOOSE.
If have to make money to pay your bill from FX chances are you will LOOSE.
Starting with small equity id very dangerous.

If you have enough money to support your self for few months no matter what is out come from your FX trades then you have wining edge.

Yes it is very much possible to live off FX better then most doing Jobs.
  • #20
  • Oct 24, 2006 8:36am Oct 24, 2006 8:36am
Before you quit you job and jump in FX full time please learn these

1.Fundamental Macro Economics
2.Technical Analysis
3.Real Time News Feeds
4.Fibbs
5.Cams
6.Pivots
7.Demo Trade ( Dont be too happy when you keep wining in DEMO , there is huge diffrence trading Live and DEMO.

I am not discouraging you , but asking you Read , Learn , Practise , Succeed , Secure you finances for few months ,THEN YOU LEAP.
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