Are there any full-time traders that are living off the FOREX profits? | Page 3 | Forex Factory

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

  • #41
  • Mar 12, 2010 4:29pm Mar 12, 2010 4:29pm
I am a fulltime trader. Both in my day job and as a private trader. There is a similar thread here where some other pro traders have posted http://www.forexfactory.com/showthread.php?t=218622
  • #42
  • Mar 12, 2010 5:23pm Mar 12, 2010 5:23pm
If your portfolio is big enough and you are smart and worker enough you can write an EA that gives you a little constant percentage of profits per day and then you can live off forex without waste any minute trading.

That's the dream of all traders.
  • #43
  • Mar 12, 2010 5:37pm Mar 12, 2010 5:37pm
Quoting Trad3r
If your portfolio is big enough and you are smart and worker enough you can write an EA that gives you a little constant percentage of profits per day and then you can live off forex without waste any minute trading.

That's the dream of all traders.
Yes well, come back in two years and tell us how that search worked out for you.
  • #44
  • Mar 12, 2010 10:07pm Mar 12, 2010 10:07pm
Quoting Trad3r
If your portfolio is big enough and you are smart and worker enough you can write an EA that gives you a little constant percentage of profits per day and then you can live off forex without waste any minute trading.

That's the dream of all traders.
Thanks for sharing that information. Most valuable
  • #45
  • Mar 16, 2010 9:36am Mar 16, 2010 9:36am
I trade when needed !

about 2 hours a week.. that's enough for me
FX is my only income source at this moment

And I am still a student (23yrs) at High School XD
  • #46
  • Mar 16, 2010 5:59pm Mar 16, 2010 5:59pm
For me it's a scary feeling to think about just living off trading. Cause everyday is like living like a bird not knowing if your next worm will turn up. I think if I ever get to full time trading where my gains can support my expenses, I would put money to work in hard assets like houses/apartments, land, businesses...
  • #47
  • Mar 17, 2010 1:05am Mar 17, 2010 1:05am
I don't think the idea of a full-time trader is one that has to worry about paying bills every month. Part of being a full-time trader includes building your account so you can risk less and get the same result or not risk more and get a greater result. Either way you shouldn't be a full-time trader if you are concerned you won't be able to pay your bills at the end of the month. When I get to the position of full-time trader I want my account large enough that 10pips with the correct lot size will pay my expenses for the month. Its not hard for me being single and young. But I believe the idea applies to most.
  • #48
  • Mar 18, 2010 4:49pm Mar 18, 2010 4:49pm
Quoting hilmy83
For me it's a scary feeling to think about just living off trading. Cause everyday is like living like a bird not knowing if your next worm will turn up. I think if I ever get to full time trading where my gains can support my expenses, I would put money to work in hard assets like houses/apartments, land, businesses...
Tell that to all the homeowners in the US where their homes have dropped 50% in value and they are surrounded by empty houses where the owners have handed back the keys and walked away. Hard assets are the hardest to sell.
  • #49
  • Mar 18, 2010 4:58pm Mar 18, 2010 4:58pm
Quoting zarraman
Tell that to all the homeowners in the US where their homes have dropped 50% in value and they are surrounded by empty houses where the owners have handed back the keys and walked away. Hard assets are the hardest to sell.
I think you need be careful with the use of the term "home owner" what you are describing sounds more like "mortgage holders". A genuine home owner really hasn't been affected in the same way or to the same degree as a mortgage holder has.
.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #50
  • Mar 18, 2010 5:02pm Mar 18, 2010 5:02pm
Quoting LasVahGoose
I think you need be careful with the use of the term "home owner" what you are describing sounds more like "mortgage holders". A genuine home owner really hasn't been affected in the same way or to the same degree as a mortgage holder has.
.
If all your mortgage holder neighbors homes have dropped 50%, then you can safely say that your home has lost about the same 50%. The valuation of your home is affected by all the latest sales in your neighborhood.
  • #51
  • Mar 18, 2010 5:03pm Mar 18, 2010 5:03pm
I have been studying forex for a couple of years. Although I have found/tested some successful strategies, I feel I do not yet have enough discipline to go full time.

I have a job where I'm forced to sit at the computer all day. It has been nice because it allows me to trade/research forex, while still having a "regular job."

My advice for anyone who wants to eventually go full-time is to find a job like mine (one which requires minimal "brain effort" while sitting at the computer), test and prove your strategies while you're still collecting a paycheck to pay your bills.

I'm hoping to go full-time trading about a year from now.
  • #52
  • Mar 18, 2010 5:10pm Mar 18, 2010 5:10pm
Quoting zarraman
If all your mortgage holder neighbors homes have dropped 50%, then you can safely say that your home has lost about the same 50%. The valuation of your home is affected by all the latest sales in your neighborhood.
You're 1/2 right (no pun intended ), 50% valuation loss doesn't necessarily equate to a 50% loss in investment. It really depends on home much as put down and how much leverage was used. Plus you have the variable of older neighborhoods vs. new ones built during the boom (but this is getting complicated).

I think to Hilmy's point, he was basically saying a good investment in property that generates income is sound 'in general' not all investments are purchased during an artificial bubble. I'm just speaking more big picture longer time frame (and historic) vs. the recent bubble. People that buy at the peak of a bubble almost always get hurt.

To make the argument that real estate (or other hard assets) are bad investments because people lost 50% during an artificial bubble (and over leveraged themselves) is hard sell for me personally.

.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #53
  • Mar 19, 2010 6:46pm Mar 19, 2010 6:46pm
I am a fulltime trader now living off forex trading
  • #54
  • Mar 19, 2010 7:45pm Mar 19, 2010 7:45pm
if i wasn't married and living in a studio with a $450 rent, sold my car and just take teh L everywhere..then yea I can trade for a living.

It would help my cause even more if I was living in a different country with lower cost of living (while trading in USD).

Sometimes it is your situation that determines your ability to trade full time..not your method.
  • #55
  • Mar 19, 2010 7:47pm Mar 19, 2010 7:47pm
Quoting woodlybog
I have been studying forex for a couple of years. Although I have found/tested some successful strategies, I feel I do not yet have enough discipline to go full time.

I have a job where I'm forced to sit at the computer all day. It has been nice because it allows me to trade/research forex, while still having a "regular job."

My advice for anyone who wants to eventually go full-time is to find a job like mine (one which requires minimal "brain effort" while sitting at the computer), test and prove your strategies while you're still collecting...
what do you do for a living?
  • #56
  • Mar 19, 2010 9:22pm Mar 19, 2010 9:22pm
Quoting hilmy83
what do you do for a living?
good one hilmy!!!
  • #57
  • Mar 20, 2010 1:38am Mar 20, 2010 1:38am
Are there any full-time traders that are living off the FOREX profits? I know that there are a bunch of traders in Jacko's private group that are full-time traders now. There are 10-15 of them
  • #58
  • Edited 2:23pm Mar 22, 2010 2:22pm | Edited 2:23pm
You know what I found fascinating and all en-compassing as gay as that sounds...

and this can be applied not only to trading but to life and stupid little cliches and everything. is that there is not one experience thats mandatory for all traders. We are all very complex and handle,procees, deduce, and make decisions very differently. There is no set way I should be experiencing realities... My realities might be entirely different from yours.

Ill be honest. I am a 20 year old ASU student sophomore going on junior and I found the secret. at least my secret that worked for me trading.
sounds stupid but!!! DONT TRADE

thats right! thats the answer! dont trade.

let me elaborate. Several things that go with this. I want you to stare at charts for 2 weeks across maybe 9 pairs (i am a chartist) and DO NOT TRADE. ITS F****in hard. I love to trade. But I force myself to only play HIGH PROBABILITY TRADES. we kill ourselves by overtrading and not playing our cards right (I am an avid poker player FULLTILT)

I'll stop rambling but I do want to end on this. Yeah MOST likely you will be taking 2 to 3 years to grasp concepts and develop YOUR OWN view on markets and currencies and you will go from their developing trading plans, rules, bla bla. we all do. BUT just because some guy on a forum said thats what he did does not mean in any sense that YOU DO!!!

well duh right?

and for the guys on here that have been trading for years and years and years more power to you man, I hope to be there someday too Just giving my 2 cents. Life is circumstantial. We try and model in determinism, while our influence plays a greater role in our lives than people realize! REALLY step back and realize that nothing has to be the way it is.

god that almost makes no sense... sorry guys!
  • #59
  • Mar 22, 2010 9:16pm Mar 22, 2010 9:16pm
Quoting Br_pippin
we kill ourselves by overtrading and not playing our cards right
I'm totally agree with you in this point.
  • #60
  • Jun 18, 2010 9:55am Jun 18, 2010 9:55am
This is something which depends both on your account size and to your trading ability. You can have an account with 5k and make a killing while somebody with 100k may be crying his money out.
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