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  • #41
  • May 19, 2018 4:44am May 19, 2018 4:44am
Many years of (the right) experience and significant capital, which is much more than you would want to accept. That is to make a stressful living out of forex. Stress-free living out of forex is not possible. In fact, apart from some really lucky exceptions, I do not think that making above-average money is possible without stress in todays life. At the end, you become the slave of your own bucks. Also, from my point of view I do not advice anyone to try and make forex trading the only source of income. Money rules over you, not the other way, so really be careful what you wish for and always have a plan B
  • #42
  • May 20, 2018 2:17am May 20, 2018 2:17am
Quoting lddd
Hey there, i would like to hear your comments on this. After some years of trading and trying to get an edge i more more believe its nothing for me. So i really asked my self if there are any existing strategies (most likely complete automated approach) can be trusted and constantly generating a 5-10% percentage return per month? Is this even possible at low/moderate risk? Meaning not having a multi million dollar account size? I would like to find a solution i could simply adapt to, maybe copy trades from the system to my own account and forget...
So, let me get this right. You want to make money without doing the work?

I think you need to knock on the door of Narnia!

Show me any career or job where that happens?

95% of traders lose money because they are LAZY. They want something for nothing. They want to sit on their computers looking like a wall street trader with 3 screens watching for their indicator or amazing system they bought, to show them when to buy and sell. Then after a hard day trading they want to drive in their Ferrari to take their trophy wife who wears a dozen diamonds, out for dinner at their private club, living the lifestyle of the rich and famous.

WAKE UP AND SMELL THE COFFEE

Trading is hard hard hard work. Good days and bad days, good weeks and bad weeks, good months and bad months --- get the picture?

Learn to trade properly or give up the dream.

Yes you can make 10%-20% profit a month (as an average), but it's not through sitting there thinking you are Bertie big b*llocks.

Lose all the triple screens, lose all the stupid indicators, lose the attitude that you are some big shot.

The EDGE comes from knowing what you are doing not from thinking this indicator will show me what I should do.

Why are there so many brokers making millions a year?
Because for every one lazy trader who loses and fortune and gives up, there are 10 more who want something for nothing too and become the next set of lazy traders.

Here ends my Sunday sermon :-)
  • #43
  • May 20, 2018 4:37am May 20, 2018 4:37am
Hi Iddd, if you don't want to see the chart all day you can use an EA. But make sure that EA granted profit for you.
  • #44
  • May 20, 2018 5:09am May 20, 2018 5:09am
Quoting amri.rudi
Hi Iddd, if you don't want to see the chart all day you can use an EA. But make sure that EA granted profit for you.
Idiot
  • #45
  • May 20, 2018 7:43am May 20, 2018 7:43am
Quoting amri.rudi
Hi Iddd, if you don't want to see the chart all day you can use an EA. But make sure that EA granted profit for you.
I am afraid granted is death only ....
  • #46
  • May 20, 2018 8:13am May 20, 2018 8:13am
Quoting amri.rudi
Hi Iddd, if you don't want to see the chart all day you can use an EA. But make sure that EA granted profit for you.
Please, please, please, don’t ever believe anything in trading ( forex or anything else) or life for that matter is guaranteed. People have made fortunes selling guaranteed profit systems and EA’s to chumps.
  • #47
  • May 20, 2018 9:56am May 20, 2018 9:56am
Quoting lddd
Hey there, i would like to hear your comments on this. After some years of trading and trying to get an edge i more more believe its nothing for me. So i really asked my self if there are any existing strategies (most likely complete automated approach) can be trusted and constantly generating a 5-10% percentage return per month? Is this even possible at low/moderate risk? Meaning not having a multi million dollar account size? I would like to find a solution i could simply adapt to, maybe copy trades from the system to my own account and forget...
Hi first of all the question which you have asked;-

'Whats really needed to make a stress-free living out of Forex'?

The problem with this question is that both of those words 'stress free' and 'forex trading' are contrasting words and unless you have a solid trading plan and an edge you cannot trade 'stress free'.

Numbers are very important in forex market and they dont lie as many have already pointed out that 95% to 99% of traders lose money in the long run and there is a good reason why they lose.Many are not aware about what exactly it takes to become consistently profitable trader.One of theMostimportant reason most traders lose money is that they lack awareness.
No one ever Discovered anything new by colouring inside the lines.
  • #48
  • May 20, 2018 10:04am May 20, 2018 10:04am
20 million go with the swaps and just keep adding 1 lot here and there as even going into 5k pips negative wont mean much. You can never lose. Other then that there is no such thing as stress-free living from Forex.
  • #49
  • May 22, 2018 7:44am May 22, 2018 7:44am
Quoting MLeslie
{quote} the RIGHT education (4 year degree) - Technical Analysis Institution Accumulation Process (liquidity providers) Rules of an auction (liquidity) - Fundamental Analysis What Drives your market/s Real Time Exprience (2 years minimum) this is where you need to find out who you are you need to put the above together. you will learn WHEN to trade when NOT to trade and HOW you want to trade Trading is very hard but very possible. It is extremely profitable. There is no middle ground. Winning sometimes Losing sometimes means you dont have a clue....
The problem is where to find this education. There are many books about technical analysis, but i didn't find anything about the liquidity part and very few about auction process.

Can you please name some resources on this subject? For every point you mention what is a good book or other resources that you think is valuable for the RIGHT education.

In other thread (https://www.forexfactory.com/showthread.php?p=11078077#post11078077)you talk about just SMA, BB and stochastics, but don't say nothing about the right education part. So do you use the above mentioned education in trading or not?
  • #50
  • May 22, 2018 10:13am May 22, 2018 10:13am
You've been an ff member for nearly ten years, so I assume you've been trading for at least that amount of time.

This means that provided you have been working at improving your knowledge of the markets all this time, you should by now have enough experience/knowledge to know enough to make trading pay.

If you haven't, like many, then you are doing something wrong. This could be anything, without knowing you or seeing how you trade, I have no idea, but you are definitely not doing what is need to make money consistently.

The best course of action now I would say is to sit down with pen and paper and write down a list of all the things you think you are doing wrong, and then a list of things you are doing right, strengths and weaknesses as it were. This is because most of us know exactly what our weaknesses are, but we lack the resolve and willpower to really address them.

It looks to me from your initial post that you feel you lack a good strategy. Well, as I have written many times before, there is no such thing as a strategy independent of the user, for all strategies are nothing more than the accumulation of knowledge which is then applied to the markets to profit from them. So look inside yourself, because you will not find a winning strategy sitting on a shelf somewhere.

Best of luck.
  • #51
  • May 22, 2018 10:29am May 22, 2018 10:29am
Its not possible to make a living full time trading retail Forex.

Its like Vegas.

I have the studies and proof for my notion.

Trade for fun.
  • #52
  • May 22, 2018 11:59am May 22, 2018 11:59am
Whats really needed to make a stress-free living out of Forex?

A complete understanding of how fear & greed works in the market.
It never gets easier, you just get better
  • #53
  • May 22, 2018 12:03pm May 22, 2018 12:03pm
Quoting goose4
Its not possible to make a living full time trading retail Forex. Its like Vegas. I have the studies and proof for my notion. Trade for fun.
UTTER BULLS**T
  • #54
  • May 22, 2018 12:19pm May 22, 2018 12:19pm
Quoting londonboy
{quote} UTTER BULLS**T

Why this answer my friend ?

Its known in the industry retail forex is like online roulette.

You can learn and be better trader but you cant beat the odds and random walk
  • #55
  • May 22, 2018 12:43pm May 22, 2018 12:43pm
Quoting goose4
{quote} Why this answer my friend ? Its known in the industry retail forex is like online roulette. You can learn and be better trader but you cant beat the odds and random walk
Then the money I and many others withdraw from their forex accounts each month must be a mirage.
  • #56
  • May 22, 2018 12:52pm May 22, 2018 12:52pm
Quoting londonboy
{quote} Then the money I and many others withdraw from their forex accounts each month must be a mirage.

Im from London

What broker you use ?
  • #57
  • May 22, 2018 1:01pm May 22, 2018 1:01pm
Quoting goose4
{quote} Im from London What broker you use ?
I use several.
  • #58
  • May 22, 2018 2:08pm May 22, 2018 2:08pm
Quoting lddd
Hey there, i would like to hear your comments on this. After some years of trading and trying to get an edge i more more believe its nothing for me. So i really asked my self if there are any existing strategies (most likely complete automated approach) can be trusted and constantly generating a 5-10% percentage return per month? Is this even possible at low/moderate risk? Meaning not having a multi million dollar account size? I would like to find a solution i could simply adapt to, maybe copy trades from the system to my own account and forget...

1. Don' t follow the trend.
2. Always act as a contrarian.
3. Buy weakness(cheap) and sell strengh(dear).

That's all you need to know.
It's contrary to what most people here will agree but that' what I have found that works. It's quite simple, if the majority loose ; shouldn't you be betting against them. Cheers.
When you see it, BET big.
  • #59
  • May 22, 2018 5:51pm May 22, 2018 5:51pm
1) It's only stressful if you're wrong and don't deal with it
2) You only don't deal with it because you care too much about the outcome.

Therefore... (if you can) trade like real money is a demo account. Trade like you don't care about the money.

Have you ever noticed how real winners just don't give a F@*K?

All they care about is executing their chosen endeavor flawlessly.

Imagine if pro racing drivers worried about prize money (or pro golfers etc - insert any pro sport)
Imagine if a Samurai was afraid of death.... it just doesn't work.

So either stop trading or have the above mindset and remember there is no outcome anyway because one day we'll all be pushing up the daisies.
  • #60
  • May 22, 2018 10:14pm May 22, 2018 10:14pm
There's no stress-free living from trading. Far from it.

You must continuously evolve with the ever chaotic market, winning at times while losing, even go as far as to break your account, at other times.
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