Can you really make money from trading? | Page 3 | Forex Factory

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Can you really make money from trading?

  • #41
  • Feb 5, 2020 3:52am Feb 5, 2020 3:52am
Quoting dany2019
{quote} Yeah. You have to put in a lot of effort coupled with patience to be successful in trading. Success doesn’t come for free ever. You have to work for it. So is the case in trading.
Yes right. Nothing comes easy. Patience and discipline both are required in order to be successful in trading.
  • #42
  • Feb 5, 2020 9:10am Feb 5, 2020 9:10am
Sometimes even they aren't enough to be successful, but they are definitely necessary.
  • #43
  • Feb 7, 2020 8:51am Feb 7, 2020 8:51am
That's what happens in most cases at least, some people don't really become profitable regardless of how much they study.
  • #44
  • Feb 7, 2020 12:37pm Feb 7, 2020 12:37pm
Quoting mlawson71
That's what happens in most cases at least, some people don't really become profitable regardless of how much they study.
So true. I think a lot has to do with how precise traders try to be, I honestly think it's just like riding a bike, you can't put too much thought into the mechanics but just develop a feel for it without being over technical
  • #45
  • Feb 8, 2020 9:23am Feb 8, 2020 9:23am
I agree. I think for other people it's just out of their control, they have other responsibilities that just don't allow them to devote their full attention to trading.
  • #46
  • Feb 17, 2020 9:02am Feb 17, 2020 9:02am
Quoting kennith
What about those who have other commitments and unable to focus on just trading, will it be profitable to them.
You don't need to focus on just trading. Trading is so flexible that you can adapt it to your lifestyle. One of the reasons a lot of traders fail in trading is because they adopt someone else's trading strategy (which unknown to them, has been built based on the person's trading style and lifestyle) and try to trade it profitably without studying it well enough to discover how it would work for them.

If you don't have a lot of time, you can do your research and practice in your spare time, but then pick just one pair to trade daily (if you are a day trader like myself), study the pair to know its behaviour, and trade only this pair, no matter the temptation to do otherwise.

If you do this and not let your emotions get in the way (which is a tough call), I can assure you that profitability will not be a problem - even by spending as little as one hour a day on forex.
  • #47
  • Feb 17, 2020 9:57am Feb 17, 2020 9:57am
I'm personally still studying it on demo but I'm realizing that like EUR/USD has an affect on EUR/JPY. I think implementing things like this will go a long way
  • #48
  • Feb 19, 2020 8:51am Feb 19, 2020 8:51am
I suggest researching currency correlation more if you're interested in that trading approach, plenty has been written on the matter.
  • #49
  • Feb 28, 2020 9:49am Feb 28, 2020 9:49am
Question: Can you really make money from trading?

Answer: If someone else is, then why not me?

Point: People are obviously making money trading. Do what they are doing (as long as it is honest).
Learn from your mistakes and march on.
  • #50
  • Feb 28, 2020 10:15am Feb 28, 2020 10:15am
I agree. But learn to do it properly and don't mess with a strategy that is already working.
  • #51
  • Feb 28, 2020 11:11pm Feb 28, 2020 11:11pm
Quoting here2there
Question: Can you really make money from trading? Answer: If someone else is, then why not me? Point: People are obviously making money trading. Do what they are doing (as long as it is honest).
Correct! New traders need to focus on their own learning process instead of success statistic and others parameters!
  • #52
  • Mar 10, 2020 9:47pm Mar 10, 2020 9:47pm
Quoting mlawson71
I suggest researching currency correlation more if you're interested in that trading approach, plenty has been written on the matter.
Would you share some informative links? I know anyone can just Google it, but there is a lot of junk out there.
  • #53
  • Mar 13, 2020 9:43am Mar 13, 2020 9:43am
I can ... took me several years to realize how simple it can be. Hard part was to drop most of the things i have collect throuhout the years. I was lucky to found two good threads on forexfactory, lucky to bought years ago a good book but never focused to it deeper and the most advantage was to draw simple things on paper.
I willl leave not here before i make my thought about the system corner, i know most of the new trader jump around it to fast. Many of the systems are not cover the basics and will run short time good, but lack on the long run. It is so!
Perfection is the enemy of good enough!
  • #54
  • Mar 14, 2020 11:29pm Mar 14, 2020 11:29pm
We (billionaires) all want to reply "no" here.
Count Of Antwerp
  • #55
  • Mar 15, 2020 7:34am Mar 15, 2020 7:34am
Hahaha, now that's an interesting way of looking at things.
  • #56
  • Mar 16, 2020 5:29pm Mar 16, 2020 5:29pm
While I was testing my new depth-of-market indicator and for the fun of it (demo, micro e-mini s&p500, 27 minutes, 11 deals, +3%) (no, not chance)...
Attached Image (click to enlarge)
Click to Enlarge Name: sometrades.png Size: 18 KB
Return To Disorder
  • #57
  • Mar 16, 2020 11:02pm Mar 16, 2020 11:02pm
Quoting rockit
While I was testing my new depth-of-market indicator and for the fun of it (demo, micro e-mini s&p500, 27 minutes, 11 deals, +3%) (no, not chance)... {image}

Great results but 11 trades tell nothing about performance. Not sure we can see the edge of a system in scarce data because the chance that it was a mix of luck and winning signals is high.
  • #58
  • Mar 17, 2020 1:40pm Mar 17, 2020 1:40pm
Quoting bottomhigh
{quote} Great results but 11 trades tell nothing about performance.
Some more "trades" guys, just for the sake of demo. I had some (virtual) practice now with the futures. But enough of this. Time is up. See you.
Attached Image (click to enlarge)
Click to Enlarge Name: somemoretrades.png Size: 21 KB
Return To Disorder
  • #59
  • Mar 20, 2020 11:25pm Mar 20, 2020 11:25pm
Its true we can make money from trading but keeping it and reasonable profit depends on how we trade, sometimes you try everything and still make no profit so i personally feel to even earn some decent profit in trading it will take a year or two.
  • #60
  • Mar 21, 2020 4:02am Mar 21, 2020 4:02am
Forex is sea of money. Majority of traders lose money, but if you look at statistic about 25% of traders are earning money. I think that in reality this number is better because many traders have more accounts (they have burn few accounts before they find good strategy and MM and start to earn money)
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