Can you really make money from trading?

Side note this post is for traders been in the market for 1 year +

To clear this off the answer is no. (i just wanted your attention here to relief your stress)

I will be talking from my own point of view and experience. Been in the market for 5 years now. 2 years of hell and 3 years of heaven and more to come.

Guys I know you worked 10000x harder, I did that too. I read A LOT!!!!!!!!!!!!!!!!!!!!!!!!!!!!! of books, seminars. And still nothing worked. So I worked my ass off to create my system. it was 10x harder. guys you wont be any more special than me or anyone in this industry we all worked hard!!!!!

So whats the plot here? why havent you been making CONSISTENT money.

Understand this now or 3 years later. Its rules and risk management. many of us understood trading in the very very wrong manner. Big money market we make it by siting thats all. Easy. Honestly.... its not as what we can all tell.

I dont want to keep this long so lets dive to the real solution here. yes you can make money trading. So how?

-Whatever dumb system you have please guys STOP!!!!!!!!!!!!!! trying to find better system then what you have. All you should do is improve through your system. And understand you can never judge your performance because you lost 3 trades. or because you won 3 trades you feel its successful. HEY! trading is not short term business this is long term business if you getting emotional because you lost 3 trades or won 3. You better improve your psychology because this game is 90-95% psychology and rest is strategy.

-Have a dumb EASY system. Then Risk on a % that will make you not be emotional. Either sad or happy. Always think of the down side.. so if I open this trade with X SL I will lose 7% will I feel sad? If yes then dont enter it. I would like to call this the emotional paradox. Where you enter it after a loser or even streak of winners. And bunch of emotions will be formed like a domino. Always always risk what you can lose. dont care about that 1 trade you lost. if you have bad winning % within 50-100 trades then we have some problem we must solve. but because you won 1 or 10 trades that doesnt make you a good trader. we all had that once and still lost all that shit.

anyways... I would like to talk more but since this is my 1st post I would love to hear every ones feedback and I'm down to earth to help anyone in here with their trading Journey.

Best
SomeKidThatTrades

Very good advice.

Well said.

Anyone getting into trading thinking they'll make money quick & easy is in for a VERY brutal wake-up call.
This is about planning, keeping true to your system and working hard.

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hey! im just a noob, I think trading is very very hard!...but there are still some masters trading manually with winrate >90% out there.
IMHO, we dont need more than 1 pair to be profitable ...
...Be Unique, & if you want to use indis...that must be your own Algos ... then your bot might be crazy profitable like mine.

sr, im just kidding

Are there any *must reads* or *must watch YouTube videos* for the beginner you'd recommend?

Honestly, if you are already a Prof. Trader then whatever works for you is good. Whatever it is. As long as you are making money.... but gosh... if you are new to it... let me just give you a suggestion, cut the journey short and work on your education and not signals. I cant believe people are soooooooo obessed of signals. I can write an essay of the cons for them. Invest thats fine. but not signals , invest with a company or a prof trader you know. But dont do signals. specially if you are new because your emotions are still raw and weak. you will be 10x deep in hell.

All the best buddy, my pleasure to help anytime.!

Ya for sure man... let me get this straight with you. Let me cut the BS for you, the hell I walked through. Price action and Naked chart is all you need. CUT your indicators, (Using 50EMA is fine for basic rejection)

From my experience, I learned harmonics, Dow Theory , Many indicators, custom indicators and the list continues. I would say 99% are BS... I was making a normal profit of indicators. But trust me the win ratio is low. And about custom indicators harmonics and many... trust me they are 10x stressful and barely work. Why?

Im not saying they dont work, its just many people dont know how to use them or I should say understand how to use them in the "LONG-TERM" or stick to the rules. I know big traders who are basing their trades of indicators and such but again their win ratio aint that high and they cant change their strategy as they have been on it for years.

So lets get to the solution, YouTube Won't make so much of a change as what I do believe. Books might bring up "SOME" growth of understanding, I suggest you to read PRICE ACTION! books, Naked charts (using tools such as Zones, Physiological levels and etc.) and trust me test test test test 10000000x go to the market and do that. Test what you learned, not twice or 20 times.. I say till you truly feel it works. Then move on to the next thing. Even if I tell you how to trade and such. it will take you time to understand it and adapt to the rules and such.

your 1st approach to the market is important so i suggest you to take it slow. This aint no quick rich scheme. and as always... I'm always here to help don't stress any question.!!

Best of luck buddy!

Great! ... may be an addition...

always keep this simple question in mind at anytime & anywhere "WHY 99.9 % of folks fail? =))

I agree. Even after going through a lot of reading stuff and knowledge many are unable to make consistent profits. Trading is not a get rich quick scheme. One has to be disciplined and control their emotions well. A well defined trading plan and risk management strategy is required. With experience and a lot of testing strategies will one be able to generate consistent profits from it.

Right now I'm studying Candlestick theory by Steve Nison. I'm liking it a lot. Taking tons of notes.

I'm also reading Technical Analysis of the Financial Markets by John J. Murphy.

How would you rate those sources as an approach to understanding price action?

I've read that too, I found using candlesticks to be quite easy and useful.

No.

I guess; now you are focusing on your learning process; isn’t?

People can earn money from trading, that’s for sure. The question is how much can you earn from trading? If you would like to earn 1% monthly that’s achievable and not that hard. But if you seek 20% monthly that’s a different story. My suggestion is that you don’t follow the second path because many people have tried and failed. If you could do that each month, you would overtake many rich people in the world just in a few years. Then everyone would be trading forex and the face of the earth would really change. Working hard isn’t the answer, working smart is what gets you to your goals

They are good reads. One thing apply what you learn. As much as you can learn you must experience what you are learning. I highly suggest you to apply and see where you can fill any improvement. And at last study something called "Market Structure" trust me it comes before price action or anything. I call it the market language.

Regards
Somekid

hey man i wouldnt bother with too much youtube or books .... babypips is all you need... take it from me i have a lot of books and none of them were all that helpful and all the information is on babypips.

now will take make you a succesful trader .. no .. you need to apply some things and find your own edge

good luck

Yes, but it takes many years of hard work

Yes. Manual and (semi)automated trading. It takes MANY years of full effort, an outstanding discipline and an uncommon mindset. But the answer is YES.

No,No,No,No,No.............no amount of effort,discipline,time or the right mindset will make you successful in this BS forex business.