Do people actually make a living off of trading? | Forex Factory

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Do people actually make a living off of trading?

  • #1
  • First Post: Mar 30, 2019 12:50pm Mar 30, 2019 12:50pm
Good afternoon everyone. I've been trading on and off for a few years now. Winning here and there but more or less having a even record.

I just want to know that trading is a real financial tool and not just some way that big companies scam everyone out of there money. Do people actually make a living off of trading currencies or stocks?

I know there are companies out there that do scam traders. I don't need to hear about those. I'm losing confidence that I can make this into a living. I would love if any of you guys can let me know this isn't just a fairy tell

Thanks!!!
Gentlemen always play by the rules, if they can't, they change them.
  • #2
  • Mar 30, 2019 1:31pm Mar 30, 2019 1:31pm
Quoting Bsmile44
Good afternoon everyone. I've been trading on and off for a few years now. Winning here and there but more or less having a even record. I just want to know that trading is a real financial tool and not just some way that big companies scam everyone out of there money. Do people actually make a living off of trading currencies or stocks? I know there are companies out there that do scam traders. I don't need to hear about those. I'm losing confidence that I can make this into a living. I would love if any of you guys can let me know this isn't just...
If you want my opinion: of course not. but I'm a "low risk" guy even though I appear to be crasy at times. most people here are gambling addicts, so keep it in mind when u listen to them.

I feel the need to diversify my investemt, not just when it comes to liquid assets.. btw remember we trade a contract not money.

don't ever trust those who say " you need more capital bla bla bla"... that's crazy BS! start small and use leverage WISELY while you have other sources of income..
  • #3
  • Mar 30, 2019 1:37pm Mar 30, 2019 1:37pm
Quoting Bsmile44
Good afternoon everyone. I've been trading on and off for a few years now. Winning here and there but more or less having a even record. I just want to know that trading is a real financial tool and not just some way that big companies scam everyone out of there money. Do people actually make a living off of trading currencies or stocks? I know there are companies out there that do scam traders. I don't need to hear about those. I'm losing confidence that I can make this into a living. I would love if any of you guys can let me know this isn't just...
Until you are confident enough; use this financial market as your part time job; but keep learning & updating your trading skill; then you’ll have all of the answers.
  • #4
  • Mar 30, 2019 1:45pm Mar 30, 2019 1:45pm
its just a game if you was in the game
if you are trading with an online broker you are not even playing the game, you are just inside a casino where the casino wins all the time

don't listen to anyone specially the ones who are online begging you to trade

everyone says you should learn, my question is: do anyone in the world done learning this game ?? hhh maybe trading assets is like surfing the unlimited universe hhhh

believe the one who dont tell you to trade because hes not a scammer or a broker,, its just a game or a casino,,,,

cheers
  • #5
  • Mar 30, 2019 1:54pm Mar 30, 2019 1:54pm
everything is simple if you are a realistic thinker

look the owners of this forums start trading from a decades, maybe they have all the tools in the world
and even with all these advantages they has, we keep reading this "please add forexfactory.com to your ad blocker white list"

no probs ff,
supports you
  • #6
  • Mar 30, 2019 1:59pm Mar 30, 2019 1:59pm
Quoting Bsmile44
Good afternoon everyone. I've been trading on and off for a few years now. Winning here and there but more or less having a even record. I just want to know that trading is a real financial tool and not just some way that big companies scam everyone out of there money. Do people actually make a living off of trading currencies or stocks? I know there are companies out there that do scam traders. I don't need to hear about those. I'm losing confidence that I can make this into a living. I would love if any of you guys can let me know this isn't just...
Ask Warren Buffet. I think he's been trading stocks for a few decades now. Not sure if he is making money yet. :-)
  • #7
  • Mar 30, 2019 2:37pm Mar 30, 2019 2:37pm
Quoting DojiSan
{quote} Ask Warren Buffet. I think he's been trading stocks for a few decades now. Not sure if he is making money yet. :-)
Hahaha I've read a few of his books. It's just hard to feel that it's actually real when you're not around the person or in the life. I'm going to try to write him
Gentlemen always play by the rules, if they can't, they change them.
  • #8
  • Mar 30, 2019 2:39pm Mar 30, 2019 2:39pm
Quoting NeilWagner
{quote} Until you are confident enough; use this financial market as your part time job; but keep learning & updating your trading skill; then you’ll have all of the answers.
It is my part time job at the moment. Has been for a few years now. I started trading so I can live a certain lifestyle but I'm no closer to that lifestyle than when I started. That's why I started this forum because I was losing confidence in trading as the vehicle to get my off the 9-5 train and travelling the world.
Gentlemen always play by the rules, if they can't, they change them.
  • #9
  • Mar 30, 2019 2:52pm Mar 30, 2019 2:52pm
Quoting Bsmile44
Good afternoon everyone. I've been trading on and off for a few years now. Winning here and there but more or less having a even record. I just want to know that trading is a real financial tool and not just some way that big companies scam everyone out of there money. Do people actually make a living off of trading currencies or stocks? I know there are companies out there that do scam traders. I don't need to hear about those. I'm losing confidence that I can make this into a living. I would love if any of you guys can let me know this isn't...
Whatever anyone says in reply, even if they show you a trade explorer showing 10,000% profit, it won't answer your question, because YOU have to know whether it's something you can achieve, no one else. If you still cannot see a way through the trees, in that you cannot yet see the path to your own success, then you either have to persevere until you do, however long it takes, or you must give up. What you need to do is write down a list of reasons, and be brutally honest with yourself, why you are still at this stage - what are you not seeing or doing? What are your weaknesses, and what are your strengths. Learning to trade is a process, it comes gradually by way of much trial and error. You cannot rush this process, and you have to be systematic.

You will never find a way by asking questions of other people about whether it is possible to really succeed in this business, because this is a question only you can answer. Most don't for as variety of reasons, but some do. What is the difference between the 5% and the 95%. Once you know the answer, you will join the 5%.

Best wishes.
  • #10
  • Mar 30, 2019 3:37pm Mar 30, 2019 3:37pm
Quoting bsmile44
{quote} ...
"كأنك بعرة في است كبش مدلاة وذاك الكبش يمشي"

:d :d :d :d :d :d :d
  • #11
  • Mar 30, 2019 3:38pm Mar 30, 2019 3:38pm
What an excellent question OP asks!
I have read forexfactory for two years and almost everybody here seem to be amateurs/beginners. Next level is the scammers posing as profitable traders. And then there's few who seem to be "the real thing", but if you will be really critical, you'll see they actually aren't..
That said, I think I have read couple of posts here that are written by actual, long-term profitable traders.

If you google "chat with traders" you can listen to the interviews with traders who are supposedly at next lever compared to anything found here. But the problem is, they too always seem to have a product to push, which doesn't make sense. Many of them seem to have had their success in 80's bull market where money was just laying there for the picking and the whole party was paid by the latecomers who got skinned after the bubble burst.

I guess that question is like "can anybody make a living playing pool". Some can, most cannot. Most people who hang around pool forums definitely cannot. Few talented hustlers can make a lot of money, but for how long? Is it sustainable? World's top pool players certainly make a good living by playing pool. What percentage are they from the whole pool of poolplayers? But many more can actually make a living from playing pool - they are not at the top, but are professionals nonetheless. They keep practicing their craft, knowing their limits and knowing that dedication pays off.

I think the best an ordinary trader can hope to achieve is somewhat stable but very modest gains, but only if professional mindset and methods are applied. Basically, one needs to make the transition from amateur to professional - easier said than done. If one does everything the same (same methods, money management etc) as everybody else here, then I'm sure the answer is no.
  • #12
  • Mar 30, 2019 8:47pm Mar 30, 2019 8:47pm
I have read the five stages of trading.
1) you lose a lot of money
2)you lose a small amount of money
3) you break even
4)you make a small amount of money
5)you make a lot of money
Hope this will encourage you not to give up you may be closer than you think.
  • #13
  • Mar 31, 2019 2:58am Mar 31, 2019 2:58am
Quoting gabnic
I have read the five stages of trading. 1) you lose a lot of money 2)you lose a small amount of money 3) you break even 4)you make a small amount of money 5)you make a lot of money Hope this will encourage you not to give up you may be closer than you think.
Most people who start out leave the business after 1 and 90+ percent that stay never make it past 1,2,3
  • #14
  • Mar 31, 2019 3:02am Mar 31, 2019 3:02am
Quoting gabnic
I have read the five stages of trading. 1) you lose a lot of money 2)you lose a small amount of money 3) you break even 4)you make a small amount of money 5)you make a lot of money Hope this will encourage you not to give up you may be closer than you think.
There is only one stage on an insane loop

1) The retail forex trader loses money
2) repeat
  • #15
  • Mar 31, 2019 3:03am Mar 31, 2019 3:03am
Quoting dicojoxaftr
{quote} "كأنك بعرة في است كبش مدلاة وذاك الكبش يمشي" :d :d :d :d :d :d :d
What does it mean? And why you used here your mother language?
  • #16
  • Mar 31, 2019 3:07am Mar 31, 2019 3:07am
Some say it takes ten years to become a successful trader. By studying harder and from the best, one can decrease the time by a few years.
Buy low, sell high.
  • #17
  • Mar 31, 2019 4:43am Mar 31, 2019 4:43am
Quoting HappyMan
Some say it takes ten years to become a successful trader. By studying harder and from the best, one can decrease the time by a few years.
if you find help which i dont give cuz i never got to give it back, it takes only a couple of minutes to become a successful trader
  • #18
  • Mar 31, 2019 5:28am Mar 31, 2019 5:28am
Quoting HappyMan
Some say it takes ten years to become a successful trader. By studying harder and from the best, one can decrease the time by a few years.
According to my personal trading experience; 2-3 years would be enough if they concentrate on chart analysis, instead on indicator based trading.
  • #19
  • Mar 31, 2019 6:23am Mar 31, 2019 6:23am
Quoting Bsmile44
{quote} Do people actually make a living off of trading?
Yeah its possible, but is it worth it? I had the same dream, I always wanted to become a fulltime trader. But I realised that trading part-time is more than enough for me. I need the world "out there".. Social interaction is more important than I used to believe. I am 32y old and I feel like shit after 30/40 hours of trading. Low energy level. Fulltime trading would probably give me a boredom burnout syndrome. You know you made it as a trader when your psychotherapist becomes your best friend..
  • #20
  • Mar 31, 2019 6:54am Mar 31, 2019 6:54am
Quoting Wachturm
{quote} Yeah its possible, but is it worth it? I had the same dream, I always wanted to become a fulltime trader. But I realised that trading part-time is more than enough for me. I need the world "out there".. Social interaction is more important than I used to believe. I am 32y old and I feel like shit after 30/40 hours of trading. Low energy level. Fulltime trading would probably give me a boredom burnout syndrome. You know you made it as a trader when your psychotherapist becomes your best friend..
Interesting! Like everything else in life, you need to find a healthy balance, but speak to any self-made financially successful person, and they will tell you of the sacrifices they had to make to achieve their goal - long hours, exhaustion both mental and physical, in short, total commitment. Trading is no different, but a balance also has to be struck so that there is some kind of release from the rigors and stresses of accomplishment. For me it is family, sport, exercise, reading, anything so long as it recharges my batteries. Quality time out is absolutely essential.

Sure, trading is not for everyone, in fact it is for very few, because not only is it incredibly difficult on so many levels, but because it has the tendency to suck one in and take over lives, and that is always fatal if the correct, normal balance for achieving one's goals is not found.
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