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How much do people make trading FOREX

  • #81
  • Jan 10, 2013 5:34pm Jan 10, 2013 5:34pm
Quoting PeterE
not much, in short

reading some data collated by an academic, preliminary findings are that just 0.4% of retail traders will have more than 4 back-to-back profitable quarters[size=2] (yes,...

Gosh, that's quite horrifying. It reminded me of a post that M.A.C.Doug wrote some time ago. I've always appreciated his honesty.

Quoting M.A.C.Doug
the number for successful retail forex traders is much less than 1%. I have heard of a broker quoting a 99.8% failure rate and I have no reason to believe that is not accurate across the board. These are the odds you are up against. You must perform at an elite level to win, like an olympic athlete, years of work and training is pre requisite to beat those odds. If you are not up for that kind of sacrifice you will be in the 99.8% group for sure. You could excel in many other fields with half the effort required for successful trading. People here...

Are we all (except 0.4%) in denial? Scary.
Nothing worth having is easy.
  • #82
  • Edited 10:06pm Jan 10, 2013 5:49pm | Edited 10:06pm
Patience, it is an alarming stat. And unlike the often emotionally driven % re success/failure, this one is supported by solid data and mathematics. Hard to argue with!

But the fact is, only 0.4% of the 8000 odd sample set, are able to achieve more than 4 back-to-back profitable quarters.

*Perhaps a more palatible way to digest the stat is 1 in 250 who attempt retail trading will achieve 4 or more profitable quarters.

Nevertheless, it’s a stat that all should be aware of.

Quoting Patience
Gosh, that's quite horrifying. It reminded me of a post that M.A.C.Doug wrote some time ago. I've always appreciated his honesty.

Are we all (except 0.4%) in denial? Scary.
  • #83
  • Jan 10, 2013 7:20pm Jan 10, 2013 7:20pm
Quoting PeterE
Patience, it is an alarming stat. And unlike the often emotionally driven % re success/failure, this one is supported by solid data and mathematics. Hard to argue with!

But the fact is, only 0.4% of the 8000 odd sample set, are able to achieve more than 4 back-to-back profitable quarters.

It’s a stat that all should be aware of.

Absolutely! I did my own little simple survey back in September last year based on some numbers from FF.

Quoting Patience
Now, please bear in mind that I'm really not that good with numbers but I was looking at something the other day. According to FF, there have been 60,249 active members in the last 90 days. On the yearly leaderboard we have 66 accounts in profit so I've worked out (with the help of Excel of course) that we have 0.109545% of profitable traders on FF. How intelligent is that!

The last time I looked at the yearly leaderboard was very close to the end of last year and there were only 49 accounts left with active members in the 56,000 region (give or take) in the last 90 days. Fits in quite well with the figures that you have provided.
Nothing worth having is easy.
  • #84
  • Jan 11, 2013 12:12am Jan 11, 2013 12:12am
0.4 % is spot on.
How else can you explain why forex is so "popular".
for example, you cannot go anywhere on the internet without some forex advert on every page, luring the gullible.
  • #85
  • Jan 15, 2013 10:11am Jan 15, 2013 10:11am
what do the 0.4% of those successful do differently?
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #86
  • Jan 16, 2013 1:52am Jan 16, 2013 1:52am
doesn't really matter.

in the end all that matters is that you strive to become better and make better decisions. Focus on this and the money will follow
Twitter: @forexpokerpro
  • #87
  • Jan 28, 2013 9:38pm Jan 28, 2013 9:38pm
Quoting pemully
what do the 0.4% of those successful do differently?
They have an Edge. They are the fish that dosn't swim with the school.
  • #88
  • Jan 29, 2013 12:52am Jan 29, 2013 12:52am
Quoting TS Owl
Most retail traders fail because they try to achieve too much (leverage) with too little (personal savings).......
In other words: if you're in this for the long haul, trade with low leverage and try to be consistent .......
Whether you hit big or not in the long run will depend on your commitment and dedication.
But if you trade like this, you will NOT fail like 95% of the people do.
If being profitable was simply a matter of trading with low leverage, then it would be ridiculously easy.

For example, I could easily write an EA that risks 1% equity (or even less) per trade, and makes random entries and exits. Being a robot, it will also ensure perfect discipline, patience, and accurate, nerveless execution. Simply by running the EA continuously, I would also meet your requirements of consistency, commitment and dedication. Even better, the EA's decision making will never be affected by tiredness, illness, stress or negativity. But would simply running the EA mean that I'm absolutely guaranteed to be profitable? If not, then why not?
  • #89
  • Jan 29, 2013 1:23am Jan 29, 2013 1:23am
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  • #90
  • Jan 29, 2013 1:33am Jan 29, 2013 1:33am
Quoting jcdollar
I was wondering because i here people talking about how many pips they brought in 15, 50, 165. I know what a pip is and it comes down to their levarage i.e. 50:1, 200:1 and lot size they trade standarad lot (Lot 1) e.t.c

Im trading with a demo account 50:1 leverage with standard lot 1 and I started with 3,000$

This most this has ever made me wat 392$ which was around 39.8 pips!

Would it be possible to make around 1200$ a week trading forex, taking only 40% of what you make a week for yourself, then putting 60% back into the account to grow...

hi all,

i am currently using FXPRO is this the best trading platform?
  • #91
  • Jan 29, 2013 2:05am Jan 29, 2013 2:05am
Quoting webart
They have an Edge. They are the fish that dosn't swim with the school.
In reality. 0.4 % winners = dumb luck
  • #92
  • Jan 29, 2013 2:10am Jan 29, 2013 2:10am
Quoting ahomar
hi all,

i am currently using FXPRO is this the best trading platform?
Look in the broker forum. Lots about FXPro, or ask your questions there may be better for you

http://www.forexfactory.com/forumdisplay.php?f=74
Please Do Not PM Me With Coding Enquiries
  • #93
  • Jan 29, 2013 2:30am Jan 29, 2013 2:30am
Quoting Mingary
In reality. 0.4 % winners = dumb luck
Proof, please. Or are you just guessing?
  • #94
  • Jan 29, 2013 9:49am Jan 29, 2013 9:49am
you can easily make 20-30% annualized with a trendfollowing system.

But retail guys want to make that in a month.The fact that these backtested and proven systems exist has been a great puzzle to me, but I realized that most can't live with the low win % and long drawdowns sometimes in excess of 2 yrs.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #95
  • Jan 29, 2013 9:54pm Jan 29, 2013 9:54pm
Quoting pemully
you can easily make 20-30% annualized with a trendfollowing system.

But retail guys want to make that in a month.The fact that these backtested and proven systems exist has been a great puzzle to me, but I realized that most can't live with the low win % and long drawdowns sometimes in excess of 2 yrs.
If you can make 20-30% per year, then you can turn that into just about any return that you want to, simply by optimizing your risk per trade (while keeping within personally acceptable drawdown), frequency of trades, frequency of compounding. It's ultimately about your risk/MM model. Explained more fully back in post #62.
  • #96
  • Jan 30, 2013 9:53am Jan 30, 2013 9:53am
Quoting hanover
If you can make 20-30% per year, then you can turn that into just about any return that you want to, simply by optimizing your risk per trade (while keeping within personally acceptable drawdown), frequency of trades, frequency of compounding. It's ultimately about your risk/MM model. Explained more fully back in post #62.
good points Hanover,

but for trendfollowing method which on average win about 35-45% of the time its disastrous to risk anything above 2.5% as drawdowns will hit above 50% .
How many traders can withstand the 70-90% drawdowns which occur using the optimal position size?

Ed seykota risked 10% per trade and made about 1,000,000% increase in his account in 15yrs.
I know no other man with balls that big,he literally walked on hot coals without getting burned.I would have liked to see the drawdowns he experienced.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #97
  • Jan 30, 2013 12:01pm Jan 30, 2013 12:01pm
Quoting pemully
good points Hanover,

but for trendfollowing method which on average win about 35-45% of the time its disastrous to risk anything above 2.5% as drawdowns will hit above 50% .
How many traders can withstand the 70-90% drawdowns which occur using the optimal position size?

Ed seykota risked 10% per trade and made about 1,000,000% increase in his account in 15yrs.
I know no other man with balls that big,he literally walked on hot coals without getting burned.I would have liked to see the drawdowns he experienced.
Agreed, systems with low win rates are prone to prolonged losing sequences, hence small position sizes are essential.

Drawdowns > 50% can be very difficult to recover from.
  • #98
  • Mar 19, 2013 4:57am Mar 19, 2013 4:57am
WHY DO PEOPLE FEEL THEY NEED TO REPHRASE your questions and re-write they way they think it should be???

and some quote and try to do some formulas, reality is different from theories, most people just know theories and their lives are driven by their experiences, if you go throughout your life thinking Forex is a loosing game, then thats what you will get to cement your belief;



the answer you need is:

FOREX TRADERS MAKE BETWEEN : $0.01 and $100,000,000 on each year.. thats how much people make on forex trading.
  • #99
  • Mar 20, 2013 8:21pm Mar 20, 2013 8:21pm
I would like to know the answer to this as well.

I started with 10 grand in a demo account and doubled it within a couple of weeks, I then created a live account and near doubled it in a week then got hit back to my original deposit amount, and in the space of 3 day am half way to doubling it again.

Seems to easy to make money...
  • #100
  • Mar 21, 2013 4:14pm Mar 21, 2013 4:14pm
I quit trading in 2005 after loosing 10k but I made over 3k a month for six months before I quit. I didn't really know what I was doing back then. I'm back trading again and only since last month been making average $150 a day with 20k capital. It took me a year of being cautious and being afraid of making mistakes and some big losses and wins. I am not an expert and I don't rely on signals or indicator. I follow news and trend analysis. What I learned that works best for me is to trade small and frequently with small profits. I don't take losses if possible because I trade small and what goes down comes back up eventually. Because of this, I only use 10-20% margin. I trade with 4 accounts so I won't loose everything if something goes bad. There's risk of too many bad trades, but so far I've been lucky. This month, I've made $2500 and hope to make another $1000+ before end of the month. Just upgraded to Active Trader account with tighter spread and it's working out pretty good.

My profit percentage is average 0.7% a day and if I keep this up I'll be making 15% a month and 183% a year. I trade full time but mostly at night during European and Asian trading hours. I'll report back next month if I am still successful.

Screenshot of one of my accounts profit so far this month.
http://3.bp.blogspot.com/-sTEL3QwPxc...rch_profit.png
Profit is better than no profit at all even if it's only a dollar.
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