Why do you trade FOREX? | Forex Factory

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Why do you trade FOREX?

  • #1
  • First Post: Jun 16, 2009 10:14am Jun 16, 2009 10:14am
I've been a trader for about 10 years now, mostly US Stocks and Options. I got my self interested in Forex in 08 and doing well. It's not a full time job but accumulating nicely. I became so addicted to Forex that I stopped watching the US Equity Markets except the Major Averages. I don't quite know what it is but Forex got me really hook on it self. Maybe the technical aspect of the Currency movements or the excitement of the International exposure or watching the countries defending their own pride that is their currency.

What is your reason? I'd love to know what made you trade in the Forex Markets instead of the others.
  • #2
  • Jun 16, 2009 10:19am Jun 16, 2009 10:19am
Ill answer for myself and most of the people here, sinse I beleive we arived here the same way.

We were searching for a way to make money and were hooked by some scam marketing for a system or signals. That coupled with the low entry requirement, and here we are!
Living the adventure in my head.
  • #3
  • Jun 16, 2009 10:30am Jun 16, 2009 10:30am
Quoting Leonlorenzo
Ill answer for myself and most of the people here, sinse I beleive we arived here the same way.

We were searching for a way to make money and were hooked by some scam marketing for a system or signals. That coupled with the low entry requirement, and here we are!
Thanks. Searching for a way to make money - yes. Never bought a system. Never paid for a service. I have a large account to trade any lot I want so low entry point was not an issue.
  • #4
  • Jun 16, 2009 10:34am Jun 16, 2009 10:34am
I wanted more freedom than a nine to five job, basically.

Now, I want more freedom from my PC and charts.

Humans are never satisfied.
Starting to see instead of just looking.
  • #5
  • Jun 16, 2009 10:46am Jun 16, 2009 10:46am
Quoting Levent
Thanks. Searching for a way to make money - yes. Never bought a system. Never paid for a service. I have a large account to trade any lot I want so low entry point was not an issue.
Im not saying that everyone ended up here the same way or that they necessarily paid for whatever service, but unless you have traded other markets before, see'ing some kind of vendor or broker advertisement is most likely how you found out about being able to trade FX.
Living the adventure in my head.
  • #6
  • Jun 16, 2009 10:51am Jun 16, 2009 10:51am
Several reasons:
1) Whenever I visit my homeland, while changing USD for the local currency, I used to wonder if I could also do that and make money . I had no idea at that time (2000-2001) that there is something called forex markets to trade currencies. That thought was always in my mind. One fine day, while flipping channels, I stumbled on James Dicks blah blah blah about forex. I visited the seminar. Started my research process from there and now I'm here.
2) I worked in IT, specifically databases for several years. I realized that if I did a good job, I'd be sent after that task is over. If I did a bad job, I'd be kicked out as well. So, why not use my gray matter for myself?
3) Since young age, I never liked to learn about the "whys" of things. I hated subjects like computer architecture, processor design etc. I used to think why do we need to study these instead of using them to our benefit. I find that similar attitude helps in forex or for that matter, any market. Don't bother about why USD is tanking or rising. Just have a proper method to enter and exit and enjoy the
  • #7
  • Jun 16, 2009 10:58am Jun 16, 2009 10:58am
Because Forex Traders get all the girls....
..don't they?
  • #8
  • Jun 16, 2009 11:04am Jun 16, 2009 11:04am
Heard about it from a good friend of mine and began the path. He stopped after four months of hardship, but I am still here after three years . . . and some decent success to show for it.

I trade because, as many would say, I love the freedom it brings. I am not a millionaire, but we do well for ourselves. I surely do not need to begin mowing lawns to put food on the table. (Not saying mowing lawns is bad. It was a personal joke because I used to do it.)

I would not say I am addicted to trading, but I do enjoy it and continue learning something new everyday in my studies.
  • #9
  • Jun 16, 2009 11:05am Jun 16, 2009 11:05am
1. Because I can trade after office hours.
2. Because I can start small.
The only way to get smarter is by playing a smarter opponent.
  • #10
  • Jun 16, 2009 11:06am Jun 16, 2009 11:06am
This ought to be fun:

Forex is capable of so many things. Increases your brain power due to the analytics, build a bank roll (or blow it up), freedom to spend time at home with family, etc...

I trade for a bigger reason and I didn't know it until I had been trading Forex for a while. I see money as those that know it's power use it to control the population. It's evil to it's core. Ever heard anyone say money is the root of all evil? Their right if you break it down to the true intention of money and understand interest.

At the moment I trade for personal freedom and time with family. Hope to expand on that in time and experience.

Our species has lived on this planet without money before and hopefully we'll do it again. Will take a huge collective consciessness though, but we're all capable of it.
  • #11
  • Jun 16, 2009 11:07am Jun 16, 2009 11:07am
Quoting Tjpld
Because Forex Traders get all the girls....
..don't they?
Especially with a face like that
  • #12
  • Jun 16, 2009 11:15am Jun 16, 2009 11:15am
Well mostly because markets interest me. Forex maybe boring for some but not me. Having graduated in Economics just last October and coupled with the job scarcity here in the Philippines, FOREX somehow gives me as well as my family the opportunity to have a hobby that pays huge sums of money while also using what I've learned at school on hand.

The road isn't easy though and I know I still have a lot of learning to do but I think with the proper discipline and the willingness to learn, I know I can be successful someday. Now if only I had the capital..
  • #13
  • Jun 16, 2009 11:58am Jun 16, 2009 11:58am
Quoting Tjpld
Because Forex Traders get all the girls....
..don't they?
Amen
  • #14
  • Jun 16, 2009 12:08pm Jun 16, 2009 12:08pm
Quoting aiyahmarklah
Amen
Lol, traders In the city or equvalent places might get the ladies due to the fact that they are considered to be walking cash machines. But a guy sat in his house on his Pc all day? You decide.
Living the adventure in my head.
  • #15
  • Jun 16, 2009 12:35pm Jun 16, 2009 12:35pm
Quoting Levent
Maybe the technical aspect of the Currency movements or the excitement of the International exposure or watching the countries defending their own pride that is their currency.
that's the reason i love it. it is so globally connected. i might be trading the same direction as a guy in france, but opposite a girl from russia. that to me is just so cool. plus, becaus eit is so global, there are so many people involved, and the more people involved, the more points of view or good ideas are out there. there are just so many opportunities for learning about Forex it's crazy.

as for why i got into it, i just sort of entered the family business a few years back. it was my first real job and it just clicked with me. i got my CTA a year later, started writing some reports acouple months after that, and i've been doing it ever since. i freakin love it.
  • #16
  • Jun 16, 2009 12:45pm Jun 16, 2009 12:45pm
Low cost barrier to entry was my primary reason. I al lways wanted to trade stocks but never had the capital needed. // started with a $500 account and been workin at it for about 6months now. I only do it part time in the evenings during the Asian session and on my lunch break at my 9-5.

First got in involved by using EA's and now really interested in building up to trade full time some day... as long as they don't go and screw us by regulating leverage down to like 1.5/1
Designer by day Trader by night.
  • #17
  • Jun 16, 2009 12:48pm Jun 16, 2009 12:48pm
Quoting Leonlorenzo
Lol, traders In the city or equvalent places might get the ladies due to the fact that they are considered to be walking cash machines. But a guy sat in his house on his Pc all day? You decide.
LOL...the grass is always greener on the other side ? I traded from office, and I traded from home. No much difference the way I see it, as long as the market is open, the market is your girlfriend and she demands your full attention.
  • #18
  • Jun 16, 2009 12:51pm Jun 16, 2009 12:51pm
Quoting Leonlorenzo
Lol, traders In the city or equvalent places might get the ladies due to the fact that they are considered to be walking cash machines. But a guy sat in his house on his Pc all day? You decide.
I thought about this along time. I think I mixed it up with "Rock Guitarists".
Damn I was doing the wrong thing the whole time...
  • #19
  • Jun 16, 2009 12:53pm Jun 16, 2009 12:53pm
Quoting Tjpld
I thought about this along time. I think I mixed it up with "Rock Guitarists".
Damn I was doing the wrong thing the whole time...
women not part of the package ?
damm....
  • #20
  • Jun 16, 2009 12:57pm Jun 16, 2009 12:57pm
I wonder whats cooler......

'Babe, Im gona dedicate a song to you'

or,

'Babe, Ive named a trading system after you'
Living the adventure in my head.
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