Who of you guys makes a living of Forex? | Forex Factory

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Who of you guys makes a living of Forex?

  • #1
  • First Post: Apr 12, 2006 5:50am Apr 12, 2006 5:50am
Without asking for monthly earnings , I am wondering who here is making a living from Forex & how long it took you to get there? And if you can give us some useful tips as well? Many thanks!
  • #2
  • Apr 13, 2006 9:23am Apr 13, 2006 9:23am
Hey pal, I posted a similar question and no one answered mine either, so it seems like many are participating, but few are succeeding.
  • #3
  • Apr 13, 2006 11:58am Apr 13, 2006 11:58am
the people who didnt ask that question jk.

theres a big jump between succeeding and making a comfortable living.. and i think only those with years of experience and confidence building would trust this market enough to quit their day job. IMO
  • #4
  • Apr 13, 2006 1:57pm Apr 13, 2006 1:57pm
Make a vote,

who's gone in debt because of forex - who is doin' enough earnings, to start
thinkin' about quitin' his job.

ciao,

t.
  • #5
  • Apr 13, 2006 4:57pm Apr 13, 2006 4:57pm
Quoting tojoko
Make a vote,

who's gone in debt because of forex - who is doin' enough earnings, to start
thinkin' about quitin' his job.

ciao,

t.

Add this to your vote: Who is getting rich by selling a garbage system to others? This will probably win out......
  • #6
  • Apr 14, 2006 12:38am Apr 14, 2006 12:38am
Quoting nd1377
Add this to your vote: Who is getting rich by selling a garbage system to others? This will probably win out......
  • #7
  • Apr 14, 2006 6:33pm Apr 14, 2006 6:33pm
Quoting nd1377
Add this to your vote: Who is getting rich by selling a garbage system to others? This will probably win out......
Its no secret that most full-time professional traders, make money other than full time trading. Some teach their methods to others and charge high seminar fees, and some sell their methods as systems. But I have yet to meet a fulltime forex trader who does absolutely nothing else but earn his/her living solely and explicitly from trading.

Am I wrong?
  • #8
  • Apr 14, 2006 8:35pm Apr 14, 2006 8:35pm
Quoting bernadette
Its no secret that most full-time professional traders, make money other than full time trading. Some teach their methods to others and charge high seminar fees, and some sell their methods as systems. But I have yet to meet a fulltime forex trader who does absolutely nothing else but earn his/her living solely and explicitly from trading.

Am I wrong?
I think Merlin trades full time,and lives off his earnings
  • #9
  • Apr 14, 2006 9:37pm Apr 14, 2006 9:37pm
Here is the last poll results. Many Traders are loath to discuss their finances...

Quoting Michel Z.
Without asking for monthly earnings , I am wondering who here is making a living from Forex & how long it took you to get there? And if you can give us some useful tips as well? Many thanks!
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  • #10
  • Apr 14, 2006 9:48pm Apr 14, 2006 9:48pm
Quoting Alex
I think Merlin trades full time,and lives off his earnings
Wow! That's fabulous news. Then there's hope for me too...LOL:
  • #11
  • Apr 14, 2006 10:10pm Apr 14, 2006 10:10pm
If I'm not mistaken, some other "locals" here on the board (FX-777 and JohnFX of "Magnets" fame) also trade full-time and aren't vendors of any kind. I know of a few other full-time traders as well who don't sell anything. Having said that, they are few and far between, but I think there are some out there.

Some full-time (and part-time successful) traders like to come to message boards, chat rooms, etc., for the camaraderie or to help newer traders (e.g., Vegas). However, I know other full-timers who purposefully avoid chat rooms, message boards, etc. Most of them think it's counterproductive to their trading and focus.


Quoting bernadette
Its no secret that most full-time professional traders, make money other than full time trading. Some teach their methods to others and charge high seminar fees, and some sell their methods as systems. But I have yet to meet a fulltime forex trader who does absolutely nothing else but earn his/her living solely and explicitly from trading.

Am I wrong?
  • #12
  • Apr 15, 2006 5:02am Apr 15, 2006 5:02am
Me


My income is from Forex only
kiss the trend
  • #13
  • Apr 15, 2006 6:17am Apr 15, 2006 6:17am
Quoting fx-trader777
Me


My income is from Forex only
Hello, today is Saturday, April 15, 2006. In your signature, you claim you have left your job to be a fulltime trader as of April 14th, 2006. Have you only just left your job for one day??
  • #14
  • Apr 15, 2006 7:44am Apr 15, 2006 7:44am
Quoting Michel Z.
Without asking for monthly earnings , I am wondering who here is making a living from Forex & how long it took you to get there? And if you can give us some useful tips as well? Many thanks!
Hi Michel Z.

Your question presumes that everyone involved in trading forex wants to do it for a living.

Trading full time would certainly keep me from my primary passion
...............fixin' the toilets.

It's a good point you raise. I wonder how many traders aspire to be full time? And why would anybody want to be full time? Each of us have our own Jones!

I am not full time but trading occupies most of my thoughts!

As for sustanance, I trade the "taco" account. (started with 500 USD) A little more than a glorified Demo account. Couldn't live off that could I? But that account has grown steadily since Jan 06. Far more than "safe" investment instruments or my "Buy and Hold" stock accounts. And during this period I've been a pretty crappy trader to boot!

So I will keep moving forward trying to improve my crappy trading, holding fast to my risk & MM strategies. If I can sustain my current rate of growth even trading "crappy" then one day I may be making so much money that I have no choice but to quit my day job. Who knows what life will bring?

and besides.....who'd fix the toilets then? Hmmmmmmmmmm?

I guess the point that I'm making (or failing to make) is that there could be many measures of success in forex beyond becoming a full time trader. In fact as many definitions of success as there are traders!

Maybe some one should poll the following question:

Are you accomplishing your goals in Forex?

The answer for me is no but I have made significant progress.

Good Journey!
HeavyJ
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #15
  • Apr 15, 2006 10:38am Apr 15, 2006 10:38am
Yeah,HeavyJ is right.Like I didn`t mention James16 because he has another job aside,but fact that he traded last 10 years with profit doesn`t mean he`s worser than any full time trader.Even with his construction business aside,he trades like dozen of markets,daytrades,and who knows what else.
  • #16
  • Apr 15, 2006 1:34pm Apr 15, 2006 1:34pm
Quoting HeavyJ
...Your question presumes that everyone involved in trading forex wants to do it for a living...
It's a good point you raise. I wonder how many traders aspire to be full time? And why would anybody want to be full time? Each of us have our own Jones!

I am not full time but trading occupies most of my thoughts!

....Maybe some one should poll the following question:

Are you accomplishing your goals in Forex?

The answer for me is no but I have made significant progress.
Hi all, the above snippet of HJ's post caught my eye/thoughts.

Though i do aspire to be a full time trader down the road (say 7 years or so from now once i hit 55) it does indeed "occupy most of my thoughts" as far as a career goes (yes i do have a life outside the charts...though my wife and i can also have fun talking shop as we are both FX traders). And like Heavy, i too have "made significant progress" in my trading goals thus far (first year annv. in May)

For now i'm trading demo nailing down my "style" and also trade a small micro account ($2.5K) when a high-probability trade happens along keeping within my 1% mm rules.

Like HJ i too am enjoying my "trade"...over 30 years of retail/retail management that i have waaaaaay to much fun while interacting with my coworkers and customers. . . So much so, that at times it boarders on criminal ; - ) ...one of those "All this and heaven too" job situations where i only have to show up for 4 or 5 hours in the evenings when the FX markets are sleeping. Great bennies, good income, and having fun. Why would i leave? We still have one child at home so our roots are here for a while longer. . . once we can move into an RV to see the world when the nest is empty? Well we'll cross that bridge when it comes.

Ramblin with my FX Family,
have a good Holiday weekend all.
Thom
  • #17
  • Apr 15, 2006 3:12pm Apr 15, 2006 3:12pm
Quoting bernadette
Hello, today is Saturday, April 15, 2006. In your signature, you claim you have left your job to be a fulltime trader as of April 14th, 2006. Have you only just left your job for one day??

NO, I left it forever.

Is my gignature not correct? I mean is there any of grammar errors?
kiss the trend
  • #18
  • Apr 18, 2006 7:13pm Apr 18, 2006 7:13pm
I could live off Forex income if I made a little over $100 per day trading... my system is almost to that level. I'm pretty comfortable living on a relatively small income, those sort of things don't concern me so much -- of course, I am starting a business as well, and FOREX will always only be an addition to that as I am very passionate about starting up my business.
  • #19
  • Apr 18, 2006 8:50pm Apr 18, 2006 8:50pm
  •  MikeG
  • | Joined Aug 2005 | Status: Empowered to Profit by James16.com | 59 Posts
Quoting HeavyJ
And during this period I've been a pretty crappy trader to boot!
Oh really? Crappy trader huh? From what Dial told me about you, you're anything but crappy. You're one of the ones to watch, sez Dial! He told me I'd do well to read all your posts.....twice!

Michele UU
I am an extremely satisfied customer of the James16 Group!!!
  • #20
  • Apr 18, 2006 8:55pm Apr 18, 2006 8:55pm
Quoting MikeG
Oh really? Crappy trader huh? From what Dial told me about you, you're anything but crappy. You're one of the ones to watch, sez Dial! He told me I'd do well to read all your posts.....twice!

Michele UU
You're right about that Michelle.. Well, not that Dial told me about it but you can actually see it on his posts... Oh shocks, I hope I'm not revealing your secret identity HJ...

If anyone's crappy, it should be? it should be? hmmmm... can't seem to point to anybody... anybody care to volunteer? hehe... kidding...

Regards,
East
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