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Living Off Fx

  • #1
  • First Post: Nov 17, 2005 11:58pm Nov 17, 2005 11:58pm
Hello

Can i get some feedback, can one really make a living off of FX????




Thanks
  • #2
  • Nov 18, 2005 1:41am Nov 18, 2005 1:41am
yes
Keeping it Simple
  • #3
  • Nov 18, 2005 2:36am Nov 18, 2005 2:36am
yes
  • #4
  • Nov 18, 2005 3:39am Nov 18, 2005 3:39am
You can make a living trading fx.
"Do or do not. There is no try" ~Yoda
  • #5
  • Nov 18, 2005 5:43am Nov 18, 2005 5:43am
Quoting corell
Hello

Can i get some feedback, can one really make a living off of FX????




Thanks
If you can't make a living through any other profession, then you can't make a living off the forex market, and to my knowledge, no single person on this world exist who can't make living off a profession...

Forex trading is just like any other profession in this world, and every profession pays off money...It's the amount of money every profession pays off which differentiates between them, that's why the forex profession is one of the difficult professions, because it pays off and pays off very well...

It just needs patience and consistency as well as discipline (As always told, the blah blah blah of the rules of trading)...


Thanks,

Nader
  • #6
  • Nov 18, 2005 9:27am Nov 18, 2005 9:27am
Great thread Corell, glad you started it.

Becomming a full time forex trader is what I eat, sleep, breathe and dream about every day. All I need is to become consistent enough to match my current income level from my current day J.O.B. (Just Over Broke), and I'm there! Even if I only break even initially on the income, I'm way ahead of the game because trading forex is something I love to do. Heck, just considering the time and money one could save anually not having to comute to work and back every day. You could sell your car for the stake you'll need to fund your account. Who needs to drive anywhere? (No insurance, no maintenance costs, etc.). Until you make it big trading forex, one could survive realatively cheap.

Good luck to you, I hope you succeed in this effort.

mpotis
"You can make money or you can make excuses, you can't do both". unknown
  • #7
  • Nov 18, 2005 9:32am Nov 18, 2005 9:32am
Quoting mpotis
Great thread Corell, glad you started it.

Becomming a full time forex trader is what I eat, sleep, breathe and dream about every day. All I need is to become consistent enough to match my current income level from my current day J.O.B. (Just Over Broke), and I'm there! Even if I only break even initially on the income, I'm way ahead of the game because trading forex is something I love to do. Heck, just considering the time and money one could save anually not having to comute to work and back every day. You could sell your car for the stake you'll need to fund your account. Who needs to drive anywhere? (No insurance, no maintenance costs, etc.). Until you make it big trading forex, one could survive realatively cheap.

Good luck to you, I hope you succeed in this effort.

mpotis
yep..I'm off to Thailand next year for 2yrs of FX trading & good times
I love the country, the people & the lifestyle. Plus it's so cheap to live over there.
  • #8
  • Nov 18, 2005 9:47am Nov 18, 2005 9:47am
Quoting Beachie41
yep..I'm off to Thailand next year for 2yrs of FX trading & good times
I love the country, the people & the lifestyle. Plus it's so cheap to live over there.

I envy you Beachie, best of luck in your endevour.

(Hmmmm....... I wonder if I could get my wife and kids to like Thai food?)

mpotis
"You can make money or you can make excuses, you can't do both". unknown
  • #9
  • Nov 18, 2005 9:51am Nov 18, 2005 9:51am
Thailand is such an amazing country (Amazing Thailand they call it after all). And dont even get me started with Thai women...

Thai food? nah gimmie Mediterranean food any day of the week please!
  • #10
  • Nov 18, 2005 9:57am Nov 18, 2005 9:57am
Quoting WTB
Thailand is such an amazing country (Amazing Thailand they call it after all). And dont even get me started with Thai women...

Thai food? nah gimmie Mediterranean food any day of the week please!
As they say "once you've tried Asian, you'll never go back to Caucasian"
lol
  • #11
  • Nov 18, 2005 10:23am Nov 18, 2005 10:23am
You guys are killing me!
"You can make money or you can make excuses, you can't do both". unknown
  • #12
  • Nov 18, 2005 10:58am Nov 18, 2005 10:58am
Quoting Beachie41
As they say "once you've tried Asian, you'll never go back to Caucasian"
lol
I hope you only mean the food lol


Thanks,

Nader
  • #13
  • Nov 18, 2005 3:07pm Nov 18, 2005 3:07pm
Quoting Beachie41
yep..I'm off to Thailand next year for 2yrs of FX trading & good times
I love the country, the people & the lifestyle. Plus it's so cheap to live over there.
Hi Beachie, have a great trip. We go to Thailand every year. This year we spent about 2 months there. We also love the people and the country and the lifestyle. I always trade when I am there. The internet speeds are not great but they are good enough for my trading platforms. Once again, have a great trip.
Steven
  • #14
  • Nov 18, 2005 3:48pm Nov 18, 2005 3:48pm
Interesting thread.

I believe I can easily make a living off just forex, however, at the current time a prefer not to. I easily match my paychecks from my current job each month with forex, and do not mind working. I work in the banking industry and I have a great team of employee's and managers. Going everyday to work for me is a pleasure and not a burden. On top of it all, my desk job permits me to trade forex.

However I am still young and I do not intend to stay here all my life. My passion has acually been to fly since I was a little kid, and I began my flight training at the age of 10. Im still slowly going through it right now. I also intend on moving back to my home country in Europe and flying for an airline there. As many of you know, the airline industry isn't the best right now so in the case that I have trouble getting a job in Europe, I will have this to hold me over. Flying and forex for me are hobbies, not burdens or jobs, and I enjoy every minute I spend trading, or in the air.
  • #15
  • Nov 19, 2005 9:24pm Nov 19, 2005 9:24pm
I am an absolute beginner to Forex. Have traded shares with a reasonable amount of success and am now trying something new. I am using a demo web based platform and to my great surprise, although it looks easy, I am losing demo money hands over fist. Just not the same as trading securities.
I guess my problme must be the duration of my trades. Securities I never day traded and here I am trying that with Forex.
What would you guys consider the best time frame to work with ?
Could you also suggest corresponding EMAs that one should use for guidance?
  • #16
  • Nov 19, 2005 9:41pm Nov 19, 2005 9:41pm
Great response

Thank you everyone for all your input, i truly appreciate it!!




Corell
  • #17
  • Nov 19, 2005 9:44pm Nov 19, 2005 9:44pm
Hi,

My first post here.

Yes it's possible 'cause thousands already do. I'm a newb to the fx cash markets, but I've traded for a living using share and futures (*including currency futures) for 5 years.

Thre are two things I would stress otherwise you'll crash and burn sometime.

1/ positive expectancy (obvious, but do you know you have it?)

2/ money management/position sizing

My 2c

Cheers,

PS great forum, nice vibe here!!
  • #18
  • Nov 20, 2005 9:19am Nov 20, 2005 9:19am
Quoting Hershy
I am an absolute beginner to Forex. Have traded shares with a reasonable amount of success and am now trying something new. I am using a demo web based platform and to my great surprise, although it looks easy, I am losing demo money hands over fist. Just not the same as trading securities.
I guess my problme must be the duration of my trades. Securities I never day traded and here I am trying that with Forex.
What would you guys consider the best time frame to work with ?
Could you also suggest corresponding EMAs that one should use for guidance?
Ask yourself what you want to do. Do you want to hold for a couple weeks? Then use the daily. Do you want to hold for maybe 50 hours? Use the hourly. Do you want to hold for maybe a couple of hours? Use the 15 minute.

The next step is to define 'trend' in your words that will make your trading successfuly. It will be a unique defition of indicators that will work for you.
  • #19
  • Nov 20, 2005 9:35am Nov 20, 2005 9:35am
Yes, but it all depends on yourself. You can make money or you can help other traders to make money by losing your own.
kiss the trend
  • #20
  • Nov 21, 2005 4:43am Nov 21, 2005 4:43am
Quoting scpeter
Hi Beachie, have a great trip. We go to Thailand every year. This year we spent about 2 months there. We also love the people and the country and the lifestyle. I always trade when I am there. The internet speeds are not great but they are good enough for my trading platforms. Once again, have a great trip.
What part of Thailand you like the most? I'm living in the northeast.
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