I have seen this question asked soo many times and so I will give you the answer I've found in the hope that newbies will stop thinking and start doing! WORK!
Quote from my other post:
"I'll put an end to this discussion:
I have met 2 fulltime traders here on FF, seen their accounts and even traded with them. The one worked in Banking before moving to forex and brought some of what he learnt over to Forex and he is REALLY good trading off m15 for his entries calculated off H1 and H4 and sometimes even Daily and weekly targets. He has a very big account now but obviously diversifies his money into stocks and properties so that his trading isn't his only income. He has very high profitability and one morning he made £20 000 just from London Open on Cable and Fibre...
The other guy started out with 30 000 Dollars and has worked it up to over 600k in 18 months. He had blown a small account before that but then was told to double 3 demo accounts before going live again and soo he did. He said the change from demo to real was very easy for him after that as he saw trades in terms of pips and percentages instead of Dollars. He recently relocated to an island and is living the dream trading still. He had his own business in before moving over to Forex, nothing in the financial Industry.
Stop listening to the losers on here who say it can't be done, IT CAN! 10% a month is nothing compared to what some traders can make, but it does get more difficult psychologically later with larger amounts. You don't need a large account but 5k should be seen as a minimum even though my friend has told me stories of his trader buddies which I won't repeat here because no one will believe it anyways.
Keep working and keep searching! The verse from the bible which says search and you will find, knock and the door shall be opened can be applied here, REALLY!
I have been searching and knocking and am finally getting there. Up 83% on my demo account in just over 6 months, once that is done I'll do it two more times ironing out my errors and finding which trades I'm not good enough to trade and which trades I do really well in and then focus on them. I have no doubt that I will be a trader one day and that I will make a living from it.
Here's a quote from my friend:
"It does take some time to study it and get used to it. I feel that your biggest problem is that you want success now, you can't have it. The market requires you to put in some serious brain time before it will reward you, you did not become a professional rugby player the first time you picked up the ball, you had to work at it and still do every day. Trading is just like that it takes time and devotion, there are no shortcuts. Nobody ever became a millionaire by borrowing a system or attending some class. Becoming a millionaire in trading takes time, devotion, dilligence and patience. You will get knocked down a few times and will need to dust yourself off. At the end trading will reward those that appreciate it and have learned its nuances. Pick a strategy and practise, practise, practise. An old hand I know told me it would take 10,000 hours of practise to know a strategy, he was not wrong.
Stick to a strategy and start learning, every strategy can be made profitable as long as it works for you, not anyone else, just you. Start reading some books too about technical analysis, there are lots of them written about equities and they work just as well."
Stop making excuses and work you lazy bastards :-)"
Quote from my other post:
"I'll put an end to this discussion:
I have met 2 fulltime traders here on FF, seen their accounts and even traded with them. The one worked in Banking before moving to forex and brought some of what he learnt over to Forex and he is REALLY good trading off m15 for his entries calculated off H1 and H4 and sometimes even Daily and weekly targets. He has a very big account now but obviously diversifies his money into stocks and properties so that his trading isn't his only income. He has very high profitability and one morning he made £20 000 just from London Open on Cable and Fibre...
The other guy started out with 30 000 Dollars and has worked it up to over 600k in 18 months. He had blown a small account before that but then was told to double 3 demo accounts before going live again and soo he did. He said the change from demo to real was very easy for him after that as he saw trades in terms of pips and percentages instead of Dollars. He recently relocated to an island and is living the dream trading still. He had his own business in before moving over to Forex, nothing in the financial Industry.
Stop listening to the losers on here who say it can't be done, IT CAN! 10% a month is nothing compared to what some traders can make, but it does get more difficult psychologically later with larger amounts. You don't need a large account but 5k should be seen as a minimum even though my friend has told me stories of his trader buddies which I won't repeat here because no one will believe it anyways.
Keep working and keep searching! The verse from the bible which says search and you will find, knock and the door shall be opened can be applied here, REALLY!
I have been searching and knocking and am finally getting there. Up 83% on my demo account in just over 6 months, once that is done I'll do it two more times ironing out my errors and finding which trades I'm not good enough to trade and which trades I do really well in and then focus on them. I have no doubt that I will be a trader one day and that I will make a living from it.
Here's a quote from my friend:
"It does take some time to study it and get used to it. I feel that your biggest problem is that you want success now, you can't have it. The market requires you to put in some serious brain time before it will reward you, you did not become a professional rugby player the first time you picked up the ball, you had to work at it and still do every day. Trading is just like that it takes time and devotion, there are no shortcuts. Nobody ever became a millionaire by borrowing a system or attending some class. Becoming a millionaire in trading takes time, devotion, dilligence and patience. You will get knocked down a few times and will need to dust yourself off. At the end trading will reward those that appreciate it and have learned its nuances. Pick a strategy and practise, practise, practise. An old hand I know told me it would take 10,000 hours of practise to know a strategy, he was not wrong.
Stick to a strategy and start learning, every strategy can be made profitable as long as it works for you, not anyone else, just you. Start reading some books too about technical analysis, there are lots of them written about equities and they work just as well."
Stop making excuses and work you lazy bastards :-)"
@pawpaw1000 on Twitter
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