Is anyone here earning a living, just with forex trading?

Please do tell who they are. On closer inspection "they" trade on a demo or in ridiculously small amounts...

financial market - is the hardest way to "easy money") Those who really earn much on Forex don't make themselves public, we won't see/hear any advices from them

There is very large number of successful Forex traders and they are having proper trading skills and knowledge so that Forex has become the only source of income for them and we can also earn good and consistent profit from Forex all it requires is basic knowledge and experience.

its sad that there is so many posts here that dont belong in the topic at all, why cant people just shut up and listen? is this maybe the reason why they dont make money?

Yes, people are consistently making a living trading Forex.

Requires: Mind Set. Method. Money Management.

Ask yourself if you have the above.

You know, not everyone can make money trading. Even if you have read a lot of Forex books, articles, heard advice of experienced traders... it doesn't mean you will be successful in trading. I think it's like a talent - you either have skills for trading or not. But it's just my personal opinion. If you are eager for trading, just continue practicing, learning and maybe you will be the lucky one

There are some guys in corner..

Some girls are bigger than others........

No, No retail traders make money long term. Sorry, but hey keep dreaming the dream

ok, let's see what it was trading for living, I assume here to meet the daily needs within 1 month-1 year, etc., and my income purely from forex, I just memplanning my forex trading into 2 accounts 1 for trading for living, 2 to savings needs that I wanted to have, in practice the two accounts differ, 1 we discussed for living my activity correspond my expenses in the first day, when I was getting profit to cover my needs within one day I will stop their activities or switch to another account for the long term, regardless of market circumstances and whatever there is high as the FOMC news or NFP or Official Bank Rate, when planning my own and so I stopped and looked at the movement of the market, so what purpose you create a trading account? and I jg make trade a new explorer to create inspiring person from 10 $ to $ 1,000, so you can see it, too


regards ^_^

ok, I had better get a real job and earn pennys while the company makes pounds

I now see the light, thankyou mr higurashi for waking me from this dream

I have a real job, and that's why I am less stressed about winnings/losers in the account. It's fun when you do not feel that this is your life income and that you won't know how to feed yourself if you do not earn in forex, but having a MAIN job for main stream of income is a lovely feeling. Actually boosts your trading sometimes.

You say that as if there are only two choices to make money. Working for the man and Forex!?

I have not yet reached the stage living just by doing forex trading. Forex risk is very high so it is not easy to live only from trading forex. We have much to learn and practice trading with good to make money in forex. So I still need a real job and forex only as a part time job

Dont know if sam1741 still reads this thread but i would just add that giving up is something people usually regret by the end of their lives.

There might be some traders who are making enough money to depend on this but in start you cannot even think about quitting your primary jobs and relying totally on forex trading.. difficult task!

When you say yes that you are trading for a living then people might doubt and judge you, it's either you are just boasting bragging or lying. If you say that no one is earning a living in forex trading many will agree, so either way...doesn't really matter, the best way to know is find the answer yourself...

I doubt those wonderful people would want to disclose their personality, any information on them would strip them of certain advantages.

In order to make a living from Forex you need to be able to make a consistent profit over a long period of time. I've seen people often claim that only 5% of traders make a profit to begin with, so don't think there are many people out there who live off Forex completely with no additional income.

3 things really

 

1. follow your strategy (don't wander)
2. per trade and per term money management (term is depending on your trade style)
3. compounding and asset management

that's it!

per trade and per term management is simple.
myself as a day trader do it like this:
2% per trade equity.
7% loss per day Balance.

that simply means every time I enter I prepare to kiss2% goodbye (it's a lot more easy if you consider the money as lost the moment you place the order)
and if I hit on my trading day a 7% drawdown, I'm done for today.

trust me, it only gets worse from there.

some can have 3 losers in a row but knowing the 7% will hit if I fuck up the next one, I will be very careful on making decisions.

compounding:
let's assume you make 5% this month
the maximum amount of withdrawing should be never more than 2% (your trade risk)
doing that your withdrawal will cause a 2% balance drawdown but keeps a gain of 3%.

so can you live off trading?
if your 2% withdrawal (this btw counts as losing trade) on the day you do it.
is so large that you can pay all the bills. Then yes, you reached the goal.

so let's assume your cost of living is 3000$
that means if your trading account holds 60.000$ you can easy live from just being a trader.

so compounding without withdrawal until 1 losing trade is the same amount as the amount of money you need to live.
that is the point where you reached the top 10

simple