Are there any full-time traders that are living off the FOREX profits? | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

VennD - Any Pairs - Any Style - Any Time 741 replies

Any full-time traders? 15 replies

Living in China, trading for a living 18 replies

Dear Full time/Part time Traders – Thanks for your time and help 7 replies

Are there any full-time traders that are living off the FOREX profits?

  • #21
  • Oct 24, 2006 8:46am Oct 24, 2006 8:46am
Just a wild guess, but full time traders will be involved in multiple markets and additional wealth building strategies.
if you fiddle with your account all day long and are a hyper scalper with milli-second charts.... you will need multiple jobs to cover the fees you incur.
happy trading.
  • #22
  • Oct 24, 2006 9:23am Oct 24, 2006 9:23am
i love the below seven steps !

Quoting GANESH
Before you quit you job and jump in FX full time please learn these

1.Fundamental Macro Economics
2.Technical Analysis
3.Real Time News Feeds
4.Fibbs
5.Cams
6.Pivots
7.Demo Trade ( Dont be too happy when you keep wining in DEMO , there is huge diffrence trading Live and DEMO.

I am not discouraging you , but asking you Read , Learn , Practise , Succeed , Secure you finances for few months ,THEN YOU LEAP.
  • #23
  • Oct 24, 2006 3:47pm Oct 24, 2006 3:47pm
Thanks Guys for all the confidence boosting, the more I read your comments and replies the more I want to trade with a live account.

Regards

Simon
  • #24
  • Nov 29, 2007 11:41am Nov 29, 2007 11:41am
Well I am a full time trader with a LIVE account and a 19 year old student doing his Engineering degree. I don't need the cash now, so I am investing in my future. I hope to see a nice 6 or 7 figure sum in 3 years. The good thing about this is that I am not under pressure to trade all the time. I have a realistic trading plan and RM/MM rules and I plan to stick by it.
  • #25
  • Nov 30, 2007 9:22am Nov 30, 2007 9:22am
i am still a student, but i know this: i will never have a job
Twitter: @forexpokerpro
  • #26
  • Dec 1, 2007 4:12am Dec 1, 2007 4:12am
Quoting BBPI_fxtrader
i am still a student, but i know this: i will never have a job
lol
  • #27
  • Feb 1, 2010 1:16pm Feb 1, 2010 1:16pm
I love it, gives us with low expenses and too much time hope. I'm trying to get well versed in forex so I can say I got my college degree for fun.
  • #28
  • Feb 1, 2010 6:32pm Feb 1, 2010 6:32pm
It is a wonderful thing to trade forex and live with forex profits. No need to go to office everyday.

Lets hope someday i can make enough forex profits so not do any job.
  • #29
  • Feb 1, 2010 6:42pm Feb 1, 2010 6:42pm
I'm hoping not to get greedy and pull money out I should be using to trade with i.e. compounding my returns the next time around.
  • #30
  • Mar 3, 2010 12:11am Mar 3, 2010 12:11am
I am a qualified accounting but have never gotten an accounting job.Was really hoping to make it big in forex until i realized the learning curve.Let me not discourage you but when you start live trading,you will realize that all those full time traders,have more balls than a basketball gym.
Live trading is a whole new experience.It might take you a few accounts or alot of giving back to the broker before you can actually begin to make a living on forex.I started with a small account,am still on one until i master making consistent profits.Then will go in full.
Until then,don't be fooled by glamorous statements,they know how hard it is.
  • #31
  • Edited 3:20am Mar 3, 2010 1:03am | Edited 3:20am
A word of caution to those in this thread who are going to make the "jump" to full time trading. I know a lot of full time retail traders, and none of us (who are still trading) ever went full time with a "jump." It was always done gradually and methodically, with the support of a "real Job" during the transition.

For what it's worth (or not), here are my experiences:

http://www.forexfactory.com/showthread.php?t=222471
  • #32
  • Mar 3, 2010 2:49am Mar 3, 2010 2:49am
Quoting Hedginghog
A word of caution to those in this thread who are going to make the "jump" to full time trading. I know a lot of full time retail traders, and none of us ever went full time with a "jump." It was always done gradually and methodically, with the support of a "real Job" during the transition.
I just can repeat that.
  • #33
  • Mar 4, 2010 6:28am Mar 4, 2010 6:28am
Quoting mwafrika
I am a qualified accounting but have never gotten an accounting job.Was really hoping to make it big in forex until i realized the learning curve.Let me not discourage you but when you start live trading,you will realize that all those full time traders,have more balls than a basketball gym.
Live trading is a whole new experience.It might take you a few accounts or alot of giving back to the broker before you can actually begin to make a living on forex.I started with a small account,am still on one until i master...
Very well said! I started with Forex 6 months ago and back then I thought that by now I should literally be a millionaire...Well the reality is I am still stuck with my 8-5 job and the total profit for those 6 months is ridiculous.
That does not mean I should give up on my dream to become full time trader one day. I have realised that in Forex world you need proper education, patience and as mwafrika said - lot of balls
  • #34
  • Mar 4, 2010 6:58am Mar 4, 2010 6:58am
Yeah ive seen a lot of full time traders here but it must take a lot of time to get to that point, I mean I haven’t done bad, but not good enough as to make a living. Plus if I trade to live my emotions will definitely do my trading… haven’t worked that out completely yet
  • #35
  • Mar 4, 2010 7:23am Mar 4, 2010 7:23am
Yeah, that's what I think, that trading "for fun" or second job is one thing, but trading for your house or dinner is something completely different
  • #36
  • Mar 4, 2010 8:23pm Mar 4, 2010 8:23pm
i've traded Forex for a year now, i can now say that i am a full time trader and that i make a living out of it, but its not something you can just start to do overnight, i started with demo accounts, than i moved to micro accounts, and now i have a classic account and my own trading systems
  • #37
  • Mar 7, 2010 3:56am Mar 7, 2010 3:56am
Quoting zauber
i've traded Forex for a year now, i can now say that i am a full time trader and that i make a living out of it, but its not something you can just start to do overnight, i started with demo accounts, than i moved to micro accounts, and now i have a classic account and my own trading systems
Wow...full time in a year? That's impressive!
  • #38
  • Edited 9:07pm Mar 11, 2010 8:44pm | Edited 9:07pm
I have hard time believing that someone who has studied forex for 1 or 2 years can actually be successfull in trading for longer period of time (for many many years). Why? Because I have studied forex for 5 years (about 4 hours every day) and I feel that now, finally, I have mastered the currency pair of my choise(EUR/USD) well enough that I can actually make consistent profits year after year. I know now if i had started trading live after first year I would have lost my trading account. I know now if i had started trading live after second year I would have lost my trading account. I know now if i had started trading live after third year I would have lost my trading account. I could give a 10 hour presentation about what I have learned about forex in last 5 years, and why I think the way I do. It would consist of hundreds of charts, excel spread sheets and so on. But to be frank, I'd rather spend that time doing other things. I'm not saying that you cannot be successful just after one year, who knows, maybe you are 5 times smarter than me and it took you 1 year to learn what took me 5 years . I want to add so much more to support my words but I'm already fed up with typing this post (this is my record long post) and I'm going to leave it as it is.


Edit:
Just to add something: if it's true that 95% are loosers, how many of them have less than 2 years of experience. Now, how many of winning 5% have less than 2 years of experience? Remember, you are trading against traders, who have 5 to 20 years experience.
  • #39
  • Mar 11, 2010 9:54pm Mar 11, 2010 9:54pm
Quoting YeahBaby
Remember, you are trading against traders
Really?
  • #40
  • Mar 12, 2010 7:49am Mar 12, 2010 7:49am
I have always said, a man is only as smart as his resources. Those resources include but are not confined to your own mind, the books your read, and the teachers that teach you. For my example if all 3 of those things are in line I'd think full-time in a year would be easy, of course with the last but not least ingredient psychology. I'm battling that myself. It is much easier to control your lot size than your pip gain for the day. If your goal is to make 10pips a day and you make 65pips in your first day it is vacation time for the rest of the week. But who does that right? But then we have to go back and ask what monetary value gives him full-time status. For some we need to replace our high-paying full-time wage, for others it is just able to collect $100 a day. So yeah if you need to clear $2,000 a week to be full time it will take you awhile but $100 a day is nothing in this market.
0 traders viewing now