are you trading for a living? | Forex Factory

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are you trading for a living?

  • #1
  • First Post: Apr 15, 2008 2:45pm Apr 15, 2008 2:45pm
ello all.
im studieng the forex market for almost a year now, and im always get to the same conclusion,there is no one i as a trader can trust on, i really am starting to belive that it is imposivle to trade for a living.i think that trading less than 50k 100k is just to give money to all those mini acounts brokers as a gift, i meen in one year that i examined all the most famos brokers that are on the net,i never heard about a really honest one,there are always bad fidbeks about all,i never heard just good things about some broker.
so is there any bodey from all the people who had enough patience to read all that above to tell me that he is trading for a living and if there is...realy is one or even tow,tell me how and with who
  • #2
  • Apr 15, 2008 3:03pm Apr 15, 2008 3:03pm
oh goody.... one more thread about "DO you trade for a living?" Why not just read through the hundreds of other threads on the same subject.

But to answer your question, Yes, I trade for a living out of my own account, not trading for others. I started with less than 10K and now my weekly forex income is what I live off of. I only take out 50% of my profits for each week, the rest is left to let the account grow.

I have two accounts one with FXSol and one with MBTrading.

What system do I use? Nothing you will find for sale or posted on any forum. But lets be quite clear with this, I will never reveal my system or strategy. In order for me to get what I want, others have to lose. Sorry, but that is just the way it is.

I suggest you go back and find some better study materials if you feel that you can't make it with less than 50K.
  • #3
  • Apr 16, 2008 11:06am Apr 16, 2008 11:06am
I think trading for a living is relative to each person. I could "live" from 2k profit a month. I would be comfortable with 10k and really comfortable with 20k a month. With the system I use I need to have 50k in my account to be really comfortable. Right now i have less than 10k in my account and I could live from the profit but I don't need to so I will just build a capital base toward the "really comfortable living"
The ForEx giveth and the ForEx taketh away. (more taketh than giveth).
  • #4
  • Apr 20, 2008 1:52am Apr 20, 2008 1:52am
Forex Living?!?!? We are trading here to filful our dreams .I am a part time student and working part time. Forex is another part time . So its like every one in this world has their own personality, own needs and own requirement! One cannot campare a typical scenrio with all treating as one.
  • #5
  • Apr 20, 2008 1:04pm Apr 20, 2008 1:04pm
Quoting dispierto
ello all.
im studieng the forex market for almost a year now, and im always get to the same conclusion,there is no one i as a trader can trust on, i really am starting to belive that it is imposivle to trade for a living.i think that trading less than 50k 100k is just to give money to all those mini acounts brokers as a gift, i meen in one year that i examined all the most famos brokers that are on the net,i never heard about a really honest one,there are always bad fidbeks about all,i never heard just good things about some broker.
so is there any bodey from all the people who had enough patience to read all that above to tell me that he is trading for a living and if there is...realy is one or even tow,tell me how and with who
Yes, there are people with integrity on this forum who definitely trade for a living. For example, James (from James16 group).
  • #6
  • Apr 20, 2008 11:08pm Apr 20, 2008 11:08pm
i work full-time and trade forex part-time. i am just like everyone else in the sense that i hope to one day quit my day job and trade for a living, but it takes some time before you can burn that bridge it is not a myth, i personally know two people that make a living trading.
  • #7
  • May 13, 2010 11:07am May 13, 2010 11:07am
Trading for a living is probably the toughest way of earning a living. I have run multi-million pound companies and that was easy compared with trading. How the cost on the time I spent with my children really did not make it worth it for me. I am sure that my son thought his father was a mobile phone. Trading for me means that I can be with my children and trade the hours that suit me rather than the company. The downside is that it is a tough way of earning a living. However it is something that I enjoy and it fits perfectly with my life-style.
  • #8
  • May 13, 2010 12:30pm May 13, 2010 12:30pm
I live to trade......does that count?
  • #9
  • May 13, 2010 1:32pm May 13, 2010 1:32pm
Quoting magnumfreak
oh goody.... one more thread about "DO you trade for a living?" Why not just read through the hundreds of other threads on the same subject.

But to answer your question, Yes, I trade for a living out of my own account, not trading for others. I started with less than 10K and now my weekly forex income is what I live off of. I only take out 50% of my profits for each week, the rest is left to let the account grow.

I have two accounts one with FXSol and one with MBTrading.

What system do I use? Nothing you will find for sale or posted on any...
Hi,
Very good responds
I have understood more about "Trading for a living " after seeing to your answer at this topic
Thank you very much and good trading to you
Regards
  • #10
  • May 14, 2010 4:42pm May 14, 2010 4:42pm
It is possible to trade for a living, you just need to be very disciplined in your trading. You don't need a huge account to make money. What you do need is proper money management and a good trading system. The way I trade is I risk 2% per trade and the reward is around 4%. I have 7 profitable trades out of 10. This means for every 10 trades I lose 4% and win 28%, a net gain of 24% per 10 trades. That would turn out to be about a 2 week period.

What takes time is to find that system that works for YOU and find the discipline to trade it while controlling your emotions and using proper money management. Have patience my friend and confidence that you will succeed.
  • #11
  • May 23, 2010 5:35pm May 23, 2010 5:35pm
Quoting nyxxo
i work full-time and trade forex part-time. i am just like everyone else in the sense that i hope to one day quit my day job and trade for a living, but it takes some time before you can burn that bridge it is not a myth, i personally know two people that make a living trading.
I burned that bridge. I have quit my job and trade fulltime for a living. I personally know well more than 10 traders who make a living by trading. http://www.forexfactory.com/showthread.php?t=229204
  • #12
  • May 23, 2010 6:37pm May 23, 2010 6:37pm
not trading fulltime yet.

maybe after a mil in the bank?
  • #13
  • May 24, 2010 8:06am May 24, 2010 8:06am
Quoting ForexDude
Take care with FOREX, and with FOREX scam or people saying they make tons of money with FOREX.

95% of people lose money in this and you have 95% of chances you will lose all your money..

What makes you thin you will be part of the 5% of PROs?

Hope?

Don't waste your hard earned money with FOREX, you are giving it to the Vulturs flying around...
Your like a spam bot. When every there is a subject that relates to getting involved in Forex you, the 'ForexDude' come telling people not to get involved blah blah blah. Your must live an exciting life.

BTW this thread was quiet since 2008 so someone must must have actually done some searching instead of opening a new thread, thats amazing....
  • #14
  • May 25, 2010 6:09am May 25, 2010 6:09am
Quoting ForexDude
Take care with FOREX, and with FOREX scam or people saying they make tons of money with FOREX.

95% of people lose money in this and you have 95% of chances you will lose all your money..

What makes you thin you will be part of the 5% of PROs?

Hope?

Don't waste your hard earned money with FOREX, you are giving it to the Vulturs flying around...
Anyone who is prepared to give the time and devotion to learn the skill can become a PRO. If it were easy and could be learnt in five minutes, everyone would be doing it successfully. It is a skill and one that only time can teach. Whatever else it may be, the one thing that it is not is a 'get rich quick' scheme. If only I had been told this when I started, it would have saved so much anquish. when I started, I thought I was thick because I could not get it to work. All it was is taking time to learn.
  • #15
  • May 25, 2010 6:41am May 25, 2010 6:41am
the word PRO doesnt fit into forex. there are no pros. we r all students in a never ending lesson. when you think your a PRO the market WILL i emphasize the WILL slap you upside the head and tell you class has not finished school is not out and take some of your hard earned money and pride. so profitable traders yes pros no

regards damien
i pull the trigger when others are fearful---me
  • #16
  • May 25, 2010 7:58am May 25, 2010 7:58am
yes. . here in philippines when you profit atleast $1000k a month is a damn big money.. almost 50,000 philippine peso.. and thats huge enough for a single person like me.
  • #17
  • May 25, 2010 10:01am May 25, 2010 10:01am
Quoting damosdmf
the word PRO doesnt fit into forex. there are no pros. we r all students in a never ending lesson. when you think your a PRO the market WILL i emphasize the WILL slap you upside the head and tell you class has not finished school is not out and take some of your hard earned money and pride. so profitable traders yes pros no

regards damien
PRO, comes from professional, as in doing it for a living. Therefore anyone who lives of his or her earnings from trading is a PRO. It has nothing to do with how much knowledge one has.
  • #18
  • Oct 19, 2010 6:32pm Oct 19, 2010 6:32pm
Quoting damosdmf
the word PRO doesnt fit into forex. there are no pros. we r all students in a never ending lesson. when you think your a PRO the market WILL i emphasize the WILL slap you upside the head and tell you class has not finished school is not out and take some of your hard earned money and pride. so profitable traders yes pros no

regards damien
I like your attitude... ...
...but I wouldnt call it a neverending "lesson"... I mean how much money can you spare to give to the market all the times you learn by loosing? Only rich people can learn this way... most poor people will be permanently terminated very fast...

Forex is a game like life itself.... you have to learn the rules fast, and behave in a way that lets you continue your life without much danger...

Imagine the following:

you are living in a world where there are also giant dionasaur-like monsters living... and you are just a small mouse on the ground trying not to get stomped by the monsters...
...sometime you are lucky and can climb onto a monster like a flea and then you can travel with the monster ...
...but if you dont look out you will just be stomped or eaten alive by those monsters...

http://www.wizards.com/mtg/images/da...erBehemoth.jpg

Thats how I see forex-trading sometimes... its like living close to a giant monster that doesnt care that you exist and what will happen to you.... the forex-monster will stomp you to death without even realizing it.
But if you learn to live besides the forex-monster you can enjoy some very promising benefits:

- you enjoy safety because no one dares to fuck around near the big monster
- you can eat off the bread crumbs that fall off the monsters mouth, or if you are lucky you can even steel one of the eggs the forex-monster lays in his nest now and then...(CB-Intervention probably?)
-you learn to be cautious and calm at the same time... both are counted as the most valuable virtues in life...
-you can stockpile your earnings and someday decide to leave the forex-monsters and live the rest of your life on a paradise island...
this pig cannot be slaughtered for ever... or can it?
  • #19
  • Oct 19, 2010 7:40pm Oct 19, 2010 7:40pm
Quoting georgem
I like your attitude... ...
...but I wouldnt call it a neverending "lesson"... I mean how much money can you spare to give to the market all the times you learn by loosing? Only rich people can learn this way... most poor people will be permanently terminated very fast...

Forex is a game like life itself.... you have to learn the rules fast, and behave in a way that lets you continue your life without much danger...

Imagine the following:

you are living in a world where there are also giant dionasaur-like monsters living......
Yeah, that was a great scene in KING KONG running from the dinosaurs in the ravine: High casualty rate.
It kind of makes the point, though, that survival by one's wits (reason for a trade) is premier, especially if, in the case you gave, there is no stop loss.
  • #20
  • Oct 20, 2010 4:46am Oct 20, 2010 4:46am
Quoting georgem
I like your attitude... ...
...but I wouldnt call it a neverending "lesson"... I mean how much money can you spare to give to the market all the times you learn by loosing? Only rich people can learn this way... most poor people will be permanently terminated very fast...

Forex is a game like life itself.... you have to learn the rules fast, and behave in a way that lets you continue your life without much danger...

Imagine the following:

you are living in a world where there are also giant dionasaur-like monsters living......
yep all these are true, i couldnt put it better myself.
if i may add what you also need is a "master-plan", that combined with a profitable system will make you realise your goals.
sometimes the monster is not the market but our own impatience.
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