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  • #601
  • Sep 12, 2017 3:27pm Sep 12, 2017 3:27pm
Quoting jdieieh
{quote} Andrew, if I can offer you those points. As an employee with a job you: 1. Spend significant part of your time in an office, most likely with people who you might not like that much after all and neiter they love you so much. 2. You put all that effort to serve your boss's wealth. Your 150k (-minus taxes) are not that much. I am sure he make after all expenses 10x or 100x times that. Are you happy with that? 3. Your 150k job today can be and will be replaced. With an skilled immigrant or a robot or somebody who can do it cheaper. I can assure...
jdieieh, great post. What you posted is basically in agreement with what I posted on page 29 of this thread (post #578). I hate the idea of having to report to a "job" each day, at a specific time, and being required to stay there for 8+ hours every day. I hate having someone (such as a boss) tell me what to do every day. And worrying if I make any mistakes that the boss would jump all over me, and maybe even fire me. Then, to make things worse, I get paid relatively very little. But even if I got paid a big chunk of money such as Andrew's $150K, I STILL wouldn't be happy working at a job -- for all the reasons I have given plus all the reasons you have given in your post. As I wrote in my earlier post, I just feel like a slave and that I am owned by whatever company I may work for. I just feel like I am wasting my life by being chained to any job.

Well, the only exception is if I work at a job that I absolutely love and would work for free (such as being given a job of personally giving all the Miss Universe contestants a bath. )
"Dream big and dare to fail." - Norman Vaughan
  • #602
  • Sep 13, 2017 1:59am Sep 13, 2017 1:59am
Quoting GuyBaker
{quote} No work colleagues are not friends, what is your point? I missed working with colleagues when I quit working for a large organisation.
My point is why somebody would spend more than half of his/her awake life in a job. It could (in their mind) be either for:

A) Money, which is nonsense, because there is not money in jobs.
B) Have friends, which is nonsense, because work colleagues are at best your competitors for annual salary rise (if any) or worse back stabbers ready to sink you for their own advantage.
C) For love of the job, which is also nonsense, because any activity that takes you spending +8 hours sitting (in most cases) rather toxic environment (mentally or physically) will kill your love.

That is my point. Job is either for independent people to make some money for start their won business, whatever it might be. Or for passive, lazy, in-ambitious modern slave. Or public servant, who simply does not care and expect tax payers to pay for their life style (read parasite).

If you missed working with people, you can have business that is focused on people and I bet you will enjoy that. With all other benefits to not be a job-taker. We are talking generally about business, not only speculating in forex. We are talking in principle.
  • #603
  • Sep 13, 2017 2:21am Sep 13, 2017 2:21am
Quoting jdieieh
{quote} My point is why somebody would spend more than half of his/her awake life in a job. It could (in their mind) be either for: A) Money, which is nonsense, because there is not money in jobs. B) Have friends, which is nonsense, because work colleagues are at best your competitors for annual salary rise (if any) or worse back stabbers ready to sink you for their own advantage. C) For love of the job, which is also nonsense, because any activity that takes you spending +8 hours sitting (in most cases) rather toxic environment (mentally or physically)...

Well on balance quitting my job (long term contract actually) back in '97 was worth it, otherwise I would have got another job of course. My only point was that it is not all good, I used to work with maybe 50 other software engineers, my piers, I miss that, and having your own business cannot replace that particular thing because you are then the boss and the relationship as a result changes.
I live entirely from the growth of my personal trading account
  • #604
  • Sep 13, 2017 8:29am Sep 13, 2017 8:29am
Quoting GuyBaker
{quote} Well on balance quitting my job (long term contract actually) back in '97 was worth it, otherwise I would have got another job of course. My only point was that it is not all good, I used to work with maybe 50 other software engineers, my piers, I miss that, and having your own business cannot replace that particular thing because you are then the boss and the relationship as a result changes.
I get your point. But for socializing, you can always find your peers in the domain. Other business orientated people, owners, clients, contractors ect, no necessary subordinates - I hate this word though

Anyway, of course it is not roses and silk. But it is much better perspective overall. And if one is not convinced, the progress will make decision instead

If I can recommend something to consider, here is one: "A Whole New Mind: Why Right-Brainers Will Rule the Future" by Daniel Pink

https://www.amazon.com/Whole-New-Min.../dp/1594481717
  • #605
  • Sep 13, 2017 4:42pm Sep 13, 2017 4:42pm
Quoting DonaldFX
{quote} Thats good I like it Still I am not sure this picture is very realistic. I don't think proffessional traders sit on a beach and trade from their laptop having drinks I think that it is a hard game for them too. They probably sit in their offices and they work really hard to take money from the market every week/month.

You are being too literal, that picture represents freedom.

Quote from a member of this forum- merlin

"trading can make your life all you want it to be...no bastard boss telling you what to do...lots of $$$...time to spend with your family...time to hang out on the forum...time to spend doing the things you love, really love, to do."


Of course there are members on this forum that devote their lives to telling others its impossible.
Dragon Rider
  • #606
  • Sep 13, 2017 4:53pm Sep 13, 2017 4:53pm
I do trade my living into a trading account...
Maadik Hugiis. IQ 69.
  • #607
  • Sep 13, 2017 5:16pm Sep 13, 2017 5:16pm
Quoting Cubbybgood
I've been a trader for over 12 years. I took me over 9 years to be profitable. I've now gone 10 months without a losing month. I can now officially say I'm making a full-time income from my home office trading forex. I took me so long to make it happen but things eventually did come into place with enough hard work and persistence. It took me realizing that I needed a larger account to make forex trading work. The best traders in the world don't make more than 5-10% per month consistently. I worked really hard to consistently make just 3-5% per...
I am so glad you have finally arrived in terms of making consistent profits. With 5% @$50k is $2500 per month pretax income. If you don't mind me asking some questions:
- how many hours a month do you devote to trading (watching, monitoring, in front of your device a d computer? The true measure for me is the hourly rate of current income versus income from trading. If you are making the same $ per month by trading less hours, you have arrived!

Btw: you have to divide your annual income by 2080 to account for vacation and other paid employment benefits and add 20% on top of it .

For me, replacing annual income with FX is a pipe dream until I retire.
Staying in my lane...
  • #608
  • Sep 14, 2017 1:38pm Sep 14, 2017 1:38pm
thanks guys for coming forward and showing that this can be achieved with hard work, commitment and a structured and realistic approach to the journey.
  • #609
  • Sep 14, 2017 2:04pm Sep 14, 2017 2:04pm
Just do or dye. ......nothing els... there is no any thing between. ... profit at least cover your all expences and more.
So do it or leave it....
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -389
  • #610
  • Sep 15, 2017 12:36am Sep 15, 2017 12:36am
Quoting jdieieh
{quote} I get your point. But for socializing, you can always find your peers in the domain. Other business orientated people, owners, clients, contractors ect, no necessary subordinates - I hate this word though Anyway, of course it is not roses and silk. But it is much better perspective overall. And if one is not convinced, the progress will make decision instead If I can recommend something to consider, here is one: "A Whole New Mind: Why Right-Brainers Will Rule the Future" by Daniel Pink https://www.amazon.com/Whole-New-Min.../dp/1594481717...

Thanks for the book recommendation, I agree that creative people are becoming more and more valid in an increasingly automated world, for now at least, machines are not very creative.
I live entirely from the growth of my personal trading account
  • #611
  • Sep 15, 2017 2:17am Sep 15, 2017 2:17am
Quoting VEEFX
{quote} I am so glad you have finally arrived in terms of making consistent profits. With 5% @$50k is $2500 per month pretax income. If you don't mind me asking some questions: - how many hours a month do you devote to trading (watching, monitoring, in front of your device a d computer? The true measure for me is the hourly rate of current income versus income from trading. If you are making the same $ per month by trading less hours, you have arrived! Btw: you have to divide your annual income by 2080 to account for vacation and other paid employment...

For those of us trading within Spread Betting accounts in the UK, all of our profits are tax free, have you considered emigration?
I live entirely from the growth of my personal trading account
  • #612
  • Sep 15, 2017 2:23am Sep 15, 2017 2:23am
That's quite nice to learn, thanks mate and yeah, I am thinking about the migration, but it wouldn't be an easy task for me. Let's hope for the better future.
  • #613
  • Edited 5:13am Sep 15, 2017 2:35am | Edited 5:13am
Quoting Danold-Turmp
I will build a huuuge account from scratch. Nobody has ever done it, so it's time to do it and prove all sceptics wrong.
me too

Hi everyone, I will tell my story

I am here to trade on behalf of my brother, he is in hospital for heart surgery .

well, I am not new in this field, I was a hard working lady in a bank, I am now working as freelancer - free trader from home and I want to share my exp in trading, i have MSC degree too in finance .

I do not use standard systems for trading as we are in the banks use only one or two signals per day and that is it.

trading is simple, you decide up or down

you can use many signals or simply one Moving average.

it does not matter...

you all are guessing where the market will go for one pair or is it going to hit the S/R zones, or Fib... or what so ever...

i saw Hanoover , dcrock, abukweek, feruss and many more are happy to catch some pips and they say " I was lucky today..."

this is the mistake here in trading , there is no luck, it is a well established system - believe it or not.

in banks what we do, we decide to choose one direction on a morning cup of coffee and buying and selling clients shares, CFD's and Options, but forex... NNNAAAHHHH ....

FOREX DUE TOO HIGH VOLATILITY is out of discussion as the bank has usually few traders and old systems... and funds managers are from out side.

mt4 mt5 are faster than our bankers systems in some banks,

ok, now let's go for the real trading life
  • #614
  • Edited 10:20am Sep 15, 2017 2:45am | Edited 10:20am
Quoting swingtraderf
You guys are delusional, it´s impossible to generate a steady income out of FX without having a few hunderd K in your trading account.
I burned many accounts during the learning process(You don't learn anything on demo). Then I started with $100, builded up my trading history, got clients, now I live off it very well. The word "impossible" belongs to the loser vocabulary.

Quoting tradista
I’m absolutely positive that nobody will turn millionaire with a $100 starting capital, but
Absolutely positive as 100% sure? I wouldn't be.
Everyone can see the chart, but only a few can actually read it.
  • #615
  • Sep 15, 2017 2:55pm Sep 15, 2017 2:55pm
Quoting OnlineAddict
{quote} I burned many accounts during the learning process(You don't learn anything on demo). Then I started with $100, builded up my trading history, got clients, now I live off it very well. The word "impossible" belongs to the loser vocabulary. {quote} Absolutely positive as 100% sure? I wouldn't be.
take $100 dollars and look at 10% a month for 10 years..its $8.4 Million. lol a lot can be done with $100.
  • #616
  • Sep 15, 2017 2:56pm Sep 15, 2017 2:56pm
Quoting GuyBaker
{quote} For those of us trading within Spread Betting accounts in the UK, all of our profits are tax free, have you considered emigration?
Yep. I will.... in summer of 2020 after my kid heads off to college. After that, I am traveling every 6 months from one country to the next on my bucket it. I have already traveled over 25 countries in the 90s :-)
By then, my automation should have 3 yrs of consistent record of profits (hopefully!)
Staying in my lane...
  • #617
  • Sep 15, 2017 3:10pm Sep 15, 2017 3:10pm
Quoting VEEFX
{quote} Yep. I will.... in summer of 2020 after my kid heads off to college. After that, I am traveling every 6 months from one country to the next on my bucket it. I have already traveled over 25 countries in the 90s :-) By then, my automation should have 3 yrs of consistent record of profits (hopefully!)

Automation is great, extremely liberating. I'm travelling a lot now, actually I fancy a stint in your wonderful Northern Californian City, San Francisco, after 30 years away I took a short vacation to California this summer with my kids, I had forgotten how much I love it.
I live entirely from the growth of my personal trading account
  • #618
  • Edited 4:07pm Sep 15, 2017 3:47pm | Edited 4:07pm
Quoting GuyBaker
{quote} Automation is great, extremely liberating. I'm travelling a lot now, actually I fancy a stint in your wonderful Northern Californian City, San Francisco, after 30 years away I took a short vacation to California this summer with my kids, I had forgotten how much I love it.
Yep.. just began by coding journey 2 yrs ago. Plan is to SAVE the heck until I build my trading capital for retirement and then go big bang and live off only on earnings+Social security and preserve my savings as much as possible. Here's my Retirement Trading Plan. It does not have to be retirement. Anyone doing fulltime HAS to live of their earnings from previous year as living paycheck to paycheck is NOT possible from trading income. Withdrawal will slow down exponential growth so no ideal but still decent way to protect account. If there is any better 'model' out there, let me know. I could not find any that fits my style as I trade small, frequently (and aggressively when warranted using my paper profits after a certain threshold is met)
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Staying in my lane...
  • #619
  • Sep 15, 2017 4:12pm Sep 15, 2017 4:12pm
Quoting VEEFX
{quote} Yep.. just began by coding journey 2 yrs ago. Plan is to SAVE the heck until I build my trading capital for retirement and then go big bang and live off only on earnings+Social security and preserve my savings as much as possible. Here's my Retirement Trading Plan. It does not have to be retirement. Anyone doing fulltime HAS to live of their earnings from previous year as living paycheck to paycheck is NOT possible from trading income. Withdrawal will slow down exponential growth so no ideal but still decent way to protect account. If there...

We have the same plan, I am compounding minus living costs which I keep down by having my base with in Odessa Ukraine, I do travel a bit, but I also am saving for the time where I can live well off of 5% return from my cash, or at least have the choice to do that, my target is £3m, which I hope to achieve in under 5 years, I'm at a modest £350ish K at the moment of which £210k is instantly available. I risk 1% of my available cash on each trade on my main system, I have a second system in trial which I anticipate risking 0.5% per trade on, and because the systems work in a totally different way, I suspect I will able to "safely" run them in parallel on the same available cash.
I live entirely from the growth of my personal trading account
  • #620
  • Sep 15, 2017 6:12pm Sep 15, 2017 6:12pm
Quoting GuyBaker
{quote} We have the same plan, I am compounding minus living costs which I keep down by having my base with in Odessa Ukraine, I do travel a bit, but I also am saving for the time where I can live well off of 5% return from my cash, or at least have the choice to do that, my target is £3m, which I hope to achieve in under 5 years, I'm at a modest £350ish K at the moment of which £210k is instantly available. I risk 1% of my available cash on each trade on my main system, I have a second system in trial which I anticipate risking 0.5% per trade on,...
That's a decent capital to work with!
Trial and error is the necessary evil in this (or any) game. Its incredible what can be achieved after learning a few lines of code. Lol. I ran into my formula for trend phases completely by accident (as in writing a buggy piece of code!) resulting in a off the chart equity curve in strategy tester. Ofcource it did not held much merit but ideas generate further ideas which result in more testing and failures and rinse/repeat. Those who keep digging can never give up until they have answers... Lol
$100K is my threshold for safety of funds by any Spot FX broker (only IB and Oanda in US). This will just be my hobby when I retire to prevent my brains from falling off the cliff with boredom as I plan to live in the most remote places while i am able and fit to travel. I have quite a few Lands End still on my bucket list :-)
Staying in my lane...
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