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Trading for a living?

  • #1
  • First Post: Nov 22, 2011 5:30pm Nov 22, 2011 5:30pm
Who here successfully trades for a living and if so, what account size are you trading on and lot size, or what did you initially start with, and if you built your account how long did it take you to get where you wanted to be?
  • #2
  • Nov 22, 2011 5:40pm Nov 22, 2011 5:40pm
1. If you do a search you will find alot of threads on this topic

2. These threads are usually full of responses from people telling you how profitable they are on their demo account
  • #3
  • Nov 22, 2011 5:42pm Nov 22, 2011 5:42pm
I've seen a few threads, not really interested in people being profitable on a demo account, I want to know if there are those on this forum who trade for a living and this is their way of income.
  • #4
  • Nov 22, 2011 8:03pm Nov 22, 2011 8:03pm
You should ask BRIJON... He is a professional trader one of the most successful there is on Forex Factory some are saying.

He literally prints money.

It's just that easy.
Markets are Mirrors,,Mastery of craft is mastery of self
  • #5
  • Nov 22, 2011 8:12pm Nov 22, 2011 8:12pm
Quoting Tonest3r
Who here successfully trades for a living and if so, what account size are you trading on and lot size, or what did you initially start with, and if you built your account how long did it take you to get where you wanted to be?

Hi Tonest,

I trade for a living and have done so since 2004 (I have also had a job until a just couple of years ago but I didn't really have to, due to trading).

The only reason for me answering your questions is that it seems that you are done Bullshitting around and want results and you need to know how to get them... Like how I was when I started....

I trade stocks, options and forex...
I have blown a numerous numbers of accounts, were probably down 20-30k in 2001...

I have tried it all, gambling, poker... you name it, I have placed bets on it... However, I haven't done that in many years and I blame better probability skills

Many of the questions you are asking you already know,
How much you want to make is up to you almost...

So with a starting account of around 20k to being able to make a living is pretty good.. (stocks)..

However, in 2004 I had 50k and that wasn't really enough but I were lucky and continued to grow... I wouldnt have done that again... (still stocks)

You should be above 200k for a normal living; being able to grow your account while withdrawing money...

The growing money part is for when you hit a loosing strike...

You use the same lot size for a very, very long time

You try to hit a average positive pip return

You should trade stocks also in my point of view cause as you have a loosing day in Fx it will catch up in stocks and you will not get a mental trauma... makes it easier for decision making... and actually take a loss...

Be informed and trade very few positions, if you trade 5-10% of your setups your probably on the right track...

If you EA the shit out of the market youre lucky to break even...

Go on collective2.com and have a look at some real results...

There, if you got this and have accepted it your 2/5 years down already... now you need screening time

GL,
  • #6
  • Nov 22, 2011 8:58pm Nov 22, 2011 8:58pm
Quoting bluesteele
You should ask BRIJON... He is a professional trader one of the most successful there is on Forex Factory some are saying.

He literally prints money.

It's just that easy.
I second that. I just started using his method in demo, and am amazed at my returns.
Time turns trend. - W.D. Gann
  • #7
  • Nov 22, 2011 9:46pm Nov 22, 2011 9:46pm
Quoting Tonest3r
Who here successfully trades for a living and if so, what account size are you trading on and lot size, or what did you initially start with, and if you built your account how long did it take you to get where you wanted to be?
Trading for a living >> it's my target.

In my opinion for living you should have 10.000 bucks for account balance,
Lot size is depend on your risk, do this with position sizing.

Quoting Tonest3r
if you built your account how long did it take you to get where you wanted to be?
when?? , is cant be measured, there is no certain thing in this market.

All you must do is preserve your equity with minimize your risk. do this with a good management, and you will survive and make money
- 888 Horse Power - Fast Momentum Speed Run Towards VICTORY
  • #8
  • Nov 23, 2011 1:51pm Nov 23, 2011 1:51pm
i believe that even a successful trader should not have it as a main living job, because there are always
1)the big turns in the market that you may loose a lot of money
2)human greed for more and more money that puts you in the tunnel
3)no reason to spend your life in front of a screen.

my opinion is just keep it for a second (even if it is more profitable) source of income
  • #9
  • Nov 24, 2011 3:52pm Nov 24, 2011 3:52pm
Quoting bonusonbonus
i believe that even a successful trader should not have it as a main living job, because there are always
1)the big turns in the market that you may loose a lot of money
2)human greed for more and more money that puts you in the tunnel
3)no reason to spend your life in front of a screen.

my opinion is just keep it for a second (even if it is more profitable) source of income
Completely agree with you!

if you trade for a living then you can be a lot more emotional which will influence on your trading results and you can lose your money and become a bankrupt.
So i believe that trading should be like a hobby or second source of income, in this case you do not care too much and your emotions do not press on you.
Think twice before going live, even if you own the best trading strategy...
  • #10
  • Nov 24, 2011 10:46pm Nov 24, 2011 10:46pm
Quoting bonusonbonus
i believe that even a successful trader should not have it as a main living job, because there are always

1)the big turns in the market that you may loose a lot of money

2)human greed for more and more money that puts you in the tunnel

3)no reason to spend your life in front of a screen.

my opinion is just keep it for a second (even if it is more profitable) source of income
I can't answer the OP question, although I am up 20% since September 1, not a full time trader or making a living from it, I do have an opinion on what bonusonbonus (BOB?) has written -

You believe what you believe, but you can always change your belief system, did you know that?

1) Big turns or small turns, you will never lose more than your calculated risk, 1% or 2% is recommended, on any 1 trade if you use STOP LOSS

2) Again, know your entry, exit, risk & POSITION SIZE before entering the trade, greed is not a part of an sensible trading plan

3) Use longer time frames, personally I use 12 hours charts, plenty of time to sit here & post all day

See this chart, how much screen time did I put in for that? How much emotion is attached to this trade?

Absolutely none, I got into the trade, but my EA will get me out based on either profit target or stop loss, it is only 1 trade out of thousands.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_003.png Size: 40 KB
It takes a lot for me to IGNORE you, but you can try.
  • #11
  • Nov 24, 2011 10:49pm Nov 24, 2011 10:49pm
Quoting FxMaestro
Completely agree with you!

if you trade for a living then you can be a lot more emotional which will influence on your trading results and you can lose your money and become a bankrupt.
So i believe that trading should be like a hobby or second source of income, in this case you do not care too much and your emotions do not press on you.
Well, no FX Maestro in my eyes, more like blind leading the blind, see my previous post, again believe what you believe, be emotional - you don't know a darn thing about RISK or POSITION SIZING, and it shows, 3 post wonder!
It takes a lot for me to IGNORE you, but you can try.
  • #12
  • Nov 24, 2011 10:49pm Nov 24, 2011 10:49pm
Quoting Tonest3r
Who here successfully trades for a living and if so, what account size are you trading on and lot size, or what did you initially start with, and if you built your account how long did it take you to get where you wanted to be?
if u can trade one standard lot u can make enough to live in any country
Trade responsiblypatience is the key/Swing trader
  • #13
  • Nov 24, 2011 10:59pm Nov 24, 2011 10:59pm
Quoting Incrediblle
if u can trade one standard lot u can make enough to live in any country
That's an Increddiblle statement, but I think you need to insert the word "successfully" into that sentence somewhere
It takes a lot for me to IGNORE you, but you can try.
  • #14
  • Nov 25, 2011 12:29am Nov 25, 2011 12:29am
Quoting Erebus
That's an Increddiblle statement, but I think you need to insert the word "successfully" into that sentence somewhere
yes offcourse thats what i meant
Trade responsiblypatience is the key/Swing trader
  • #15
  • Last Post: Nov 26, 2011 8:13am Nov 26, 2011 8:13am
Right now I'm currently building my account to be able to trade 1 lot and just have a target of a few pips a day, example 10 - 20 pips a day I do consistently, with 1 lot a living can be made, but the time it takes to get to a comfortable account size is the tough part.
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