is it a game or job?anyone makes his living by forex? | Forex Factory

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is it a game or job?anyone makes his living by forex?

  • #1
  • First Post: Jun 18, 2004 2:48pm Jun 18, 2004 2:48pm
HI
i like forex. but not sure how i should think about it, is it possibilitry get rich, or broke, or just a fun game?
how good u supposed to be with demo account to be able to manage a real one?
do u know anyone who made any fortune out of it? ANYONE?
do u know anyone who makes living by forex?
  • #2
  • Jun 18, 2004 4:24pm Jun 18, 2004 4:24pm
if you really want the answer to this question, read Market Wizards. when i first started trading, this question was burning me up. it wasnt until i read Market Wizards that i realized trading is indeed a viable road to riches.
Relax and be happy.
  • #3
  • Jun 21, 2004 4:41pm Jun 21, 2004 4:41pm
i would appreciate any other answer
  • #4
  • Jun 21, 2004 5:49pm Jun 21, 2004 5:49pm
Quoting merlin
if you really want the answer to this question, read Market Wizards. when i first started trading, this question was burning me up. it wasnt until i read Market Wizards that i realized trading is indeed a viable road to riches.
I'm curious, what are Market Wizards?
  • #5
  • Jun 29, 2004 9:24am Jun 29, 2004 9:24am
can u name any guy who made billions
  • #6
  • Jun 29, 2004 10:35am Jun 29, 2004 10:35am
Quoting Voland
can u name any guy who made billions
I think that is how you spell his name. Merlin will know. Close buddies.
slick 60
  • #7
  • Jun 29, 2004 10:45am Jun 29, 2004 10:45am
yeah me and Soros had a few beers last night...
Relax and be happy.
  • #8
  • Jul 5, 2004 7:54am Jul 5, 2004 7:54am
Quoting merlin
yeah me and Soros had a few beers last night...
Can you introduce me to him ?
  • #9
  • Jul 5, 2004 2:52pm Jul 5, 2004 2:52pm
Quoting merlin
yeah me and Soros had a few beers last night...
Merlin
Does George drink "Canadian" too?
slick
  • #10
  • Jul 6, 2004 2:04am Jul 6, 2004 2:04am
Quoting slick 60
Merlin
Does George drink "Canadian" too?
slick
he used to drink Canadian, now he drinks straight Socialist beer...
Relax and be happy.
  • #11
  • May 4, 2007 2:58am May 4, 2007 2:58am
when the margin still low, it feel more like a game....
when the margin goes up, it is not a funny game...
when the margin call, it is not a game anymore...
  • #12
  • May 4, 2007 3:58am May 4, 2007 3:58am
I'd like to answer this with lyrics from Les Miserables' song "Red and Black". (With creative FX comments added)

Quote
It is time for us all
To decide who we are...
Do we fight for the right
To a night at the opera now?
Have you asked of yourselves
What's the price you might pay? (Just bid/ask, or swap and slippage as well?)
Is it simply a game
For rich young boys to play? (For rich young boys who will soon be poor old boys)
The color of the world
Is changing
Day by day... (The song is called Red and Black, think about it..)

Had you been there tonight
You might know how it feels
To be struck to the bone
In a moment of breathless delight! (When you shorted the USD and GBP hit over 2.0000)
Had you been there tonight
You might also have known
How the world may be changed
In just one burst of light! (When the non-farm reports come out)
And what was right
Seems wrong (You should have shorted)
And what was wrong
Seems right... (Good think you put in that 100 pip stoploss..)
google:
  • #13
  • May 4, 2007 4:33am May 4, 2007 4:33am
A person may not get rich but I guarantee a person can make enough money to not have a bell telling him when he can go on break. My uncle does it. By looking at him, you would never be able to tell. I don't even know how much he actually makes. I just know he lives off his trading. What more does a person need? Why do you need a million dollars in your bank account? My sister lives in Florida. She knows a guy that has a $500,000 house, a yaucht, and anything he wants. He trades forex. Why isn't it possible?????? This is a multi-trillion dollar business. There is no possibility that every single person that deposits money in an account is gonna be taken by the broker. 5-10 percent of the people that trade forex succed and the others come and go. All depends on the persons will to survive. I know I will still be here trading in 20 years unless the world comes to an end. And if that happens, who needs forex anyhow. But, I guarantee, a person can make a living off forex. I know I will.
JOHN 3:16
  • #14
  • May 7, 2007 3:03pm May 7, 2007 3:03pm
I make living on it. I make about 2000/wk consistently.
  • #15
  • May 7, 2007 3:09pm May 7, 2007 3:09pm
I too trade full time and would not want to do anything else! My returns are very rewarding and fulfilling.
  • #16
  • May 7, 2007 3:42pm May 7, 2007 3:42pm
I will be a full timer here in a couple years... and I have to say that thus far it's been rewarding.

I can in no way sustain my quality (or lack of... heh) of life right now, but it'll come.

It's a grind... a business. And you have to treat it as such. Just keep your head up and learn as much as you can. Get a mentor -- it'll help greatly. Had I never had a mentor, I probably would've paid for much more education than I have... (and I've paid plenty even with a mentor...)
Mr. Trend
  • #17
  • Last Post: May 11, 2007 6:34am May 11, 2007 6:34am
Hey guys,
I've been a trader since the eighties. The best thing about earning current income from trading is that it frees you to find opportunities in other areas. When you build your business to the point that you can walk away from your traditional job, don't take a vacation - diversify!

I can't say that forex is a significant part of my personal trading. IMO, I still believe it is very much a "dealers game". I encourage anyone who desires to learn about markets and about their own thinking to explore trading. It's not a business everyone can master, but making the effort is worthwhile. Happy hunting...
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