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Attachments: Here's the answer to "Can I make a living from forex"
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Here's the answer to "Can I make a living from forex"

Yes, I traded demo account for years until I know what strategy works for me. Then move into trading live account; but I lost thousands of dollars. I DID NOT give up. I came back to demo trading again, and studied and studied to see what trades I have won consistently.
Then I go back trading live again. This time I focused on PIPS and Percentages, INSTEAD of dollars and cents.
So far here are my live results trading conservatively and consistently LIVE:
August 16, 2013 = +4.52% gain so far.
July 2013= +10.30% gain.
June 2013 = +17% gain.
May 2013 = +28% gain.
April 2013 = +23% gain.
My goal is to consistently compound my LIVE account at more than 10% per month. The key is to make daily positive gains and let it compound. Donot use money that you need to buy food for your family. Set aside funds to trade live and let it set there and compound daily for long term for at least year, preferably 5 years or more.
I still keep a demo in case I am not sure about a trade and just want to test my analysis.
Quoting Fxism
I've been trading with a demo account on and off for about 2-3 years now. I opened my first account a month ago (less one day). While I am not losing money, I haven't made much progress either - now up 1.2%. My biggest drawdown was 0.1%. I've been following very stringent money management practices - never risking more than 2% per trade. I am thinking I need to get back to the drawing board (demo) and try to get more confidence so I can start risking more per trade - 5% for a great setup. What I am trying to say is the fact that you can't become...

If you take 5 trades a week with 1% Risk and RR of 2-3 and 50% accuracy then you are looking at 20 trades with 10 profitable, 5 with 3R and 5 with 2R. Take the 10 trades you lost off and you still have 15% pm.

You obviously didn't thin through your argument before posting. That is the problem with alot of people here, make statements that aren't true and so create false perceptions. Go and read Mark Douglas trading in the zone. If you then add to winners and cut losers short, you will be making 20% pm easily.

Yeah, I know, IT'S NOT POSSIBLE :-D
@pawpaw1000 on Twitter
Quoting pawpaw1000
{quote} If you take 5 trades a week with 1% Risk and RR of 2-3 and 50% accuracy then you are looking at 20 trades with 10 profitable, 5 with 3R and 5 with 2R. Take the 10 trades you lost off and you still have 15% pm. You obviously didn't thin through your argument before posting. That is the problem with alot of people here, make statements that aren't true and so create false perceptions. Go and read Mark Douglas trading in the zone. If you then add to winners and cut losers short, you will be making 20% pm easily. Yeah, I know, IT'S NOT POSSIBLE...
So you took some of my numbers, added some of yours and threw out the math
Hello! First post here, I'm excited. Yes this is the very possible, but trader must know what doing if not or just guessing sooner or later account getting in big trouble.
I making the BIGmonies, so far +1045 pips. Follow me if you nice guy...
Hey Pawpaw1000, are you a profitable trader ( live acc.) ?And if yes for how long ? Thx.
Quoting HedgePiglet
Just joined and I hope the question is topical: Having just had my record day in my trading career (thanks largely to the staggering devaluation in the USD for no reason this afternoon) I would like to ask: What is the personal best you have done in terms of points/pips in a single day? I appreciate this question is subjective against your particular strategy, but it might provide a little insight to new traders of what IS possible. I hope this isnt a thread hijack and I apologise in advance if it is. HP
You shouldn't take much notice of what you earn on a daily basis or even on a weekly basis. That would be putting a lot of pressure on yourself. I think you should aim for positive months instead.
Quoting Squeeze
IMHO this is an urban myth. Surprised anyone falls for it tbh. {quote}
+1
Quoting mmaker
"..... it's a matter of time before he blew up".
+1
Thanks for your thread. it give motivation for all traders here. goodluck with your trading
If we have good control on the mind and are knowledgeable enough regarding the forex market then for sure we can lead a comfortable and also luxury life depending upon the traders knowledge.
Quoting mmaker
{quote} How do you know for sure? Do you have the facts or evidence to proof this statement? What if what you believe is never true, just a dream made up by the brokerage industry? And funded by your day job working 9 to 5.
+1

you seem to know stuff. I know people don't like to read truth but above is anyway. Dreams are sooo nice, better than real life.

here is another hard to swallow:

market is machine designed to take money away from you and keep you slave forever.

don't worry, I am just joking

Hello Factory users

Greetings from Norway (bear with me, my English is not perfect).

I'm new to this, and I want to share some of my experience.

I have flexible hours at my job, so I can take my time doing whatever I’m supposed to do. This gives me the opportunity to trade during daytime. And I don’t think you can succeed trading in the evening (after normal work hours).

First off, let me tell you. Someone here wrote "emotional/nervous/greedy/angry/impulsive", this is so true!!!

I also started with a demo account with great success, but do not compare this to live monies...

With my own money, all the feelings matters. On my demo account, it didn’t! As simple as that!

But you must prevail with your demo first. That’s a no-brainer.


Fortunately for me, I have saved up a lot of money, and I started my first account with 10.000$

Fresh in the market and eager to trade, I didn’t give leverage, equity and margin the respect I should have. So I took a huge hit. Try imagining 10.000$ get lost in the matter of seconds… Though luck! But I learned my lesson. I opened a new account with another 10K, and now I see small results.

From day one, I have written all my thoughts and feelings in a daily journal. This helps a lot. It helps me remember my mistakes, as well as the things I have to keep in mind at all times. I think this is a great way to learn new things.


I’m not the first to say this, but I’m new at this, and I want other new traders to learn from my mistakes. So your account strength is the key. In my journal I called this strength in numbers.

With my first 10K I bought positions and blew away my margin, so I lost by margin call. Beginner’s mistake or just greed? Maybe both?!


Now I call it a day with a 100-200$ profit every day. This won’t make me rich in a day, but neither was Rome built in one! This “strategy” has proven to work quite well, and when I’m confident enough, I will strengthen my account with more money to make a higher daily income based on small profits. This is not big news, and fairly easy to do. So if you are new to trading, and have a lot to put into it, this is working for me



Best of luck to you all.
Unfortunately 99.6% of people lose money in FOREX.

99.6% of all of you, who are posting here, will not be here in 5 years... Heck, not even in 2 years, you will be working in something else. NOT IN FOREX.

Most people get 1 or 2 lucky months (even 1 lucky quarter) and they think they found the holy grail... Many people get enthusiastic, because they finished 1 or 2, or 3 months earning some bucks... And that you will be the NEXT SHIA LABEUF from WALL STREET 2 movie...

Wake up, guys... Thats pure lies, you will lose everything in the long term.

This is like a CASINO. Even in a CASINO you can win short term, but long term, you will lose everything.

FOREX is always, constantly changing, there is no such thing as a system or anything to predict the future, you cannot predict what will happen, ever... No matter how many indicators or stuff like that you use.

The only people who can in "some way MANIPULATE the MARKET" are Market Makers (BROKERS) or people managing trillion DOLLARS hedge funds like the new York Vultures and PIRATES (Pirate JP Morgan, Pirate GoldManSachs, Pirate PIMCO, etc)... Not saying anything new here, we have seen this over and over and over again, during all these years...

Do you think you can compete with them? You? Trading from your home, inside a FOREX RETAIL BROKER and with a 10K account? ha ha ha... Not a single chance, dude.

Yeah I know that we are in the era of John Locke's LOST phrase "Don't tell me I cannot do something"... Thanks to that phrase, Forex Brokers are doing millions per day.

Ok, go ahead and WASTE your money, go ahead and lose it... Don't whine later, ok?

Remember you... Reading this, you will NOT BE HERE in 2 years, remember that.

The only people that are here since years and have 10+ vouchers, dont even do a living trading RETIAL FOREX. One example is HANOVER, he just lives of MT4 programming, but he doesn't do single CENT from FOREX RETAIL TRADING...

Unfortunately, most of you will ignore this message, and go ahead and put your money in a BROKER, convinced you can do some bucks. You will lose everything, every single CENT.

You cannot say I DIDN'T WARN YOU.

Of course, after you lose everything, you will never come back to this forum, to tell your experience, and to say that I was right. Just check Members from this forum from 3-6 years ago. They NEVER CAME BACK. NEVER EVER...

Bye.
The Black Swan: The Impact of the Highly Improbable
Did you have a rough day, MapleLeaf ?

My thoughts exactly. How much did you lose man?

Anyways... This takes a huge amount of time and energy.

You need do dedicate yourself, and don’t give up. It’s hard in the beginning, but after a while, you will learn to know the prices, and start to care about the development in your market. Try to focus on one currency pair, and pay close attention to the economic calendar.

You are using your real money, and you care about it, right?!

what prophet mapleleaf is doing is like going to those fanatical church and proclaiming that none of them will enter heaven.

a waste of effort surely.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
Quoting fido
Did you have a rough day, MapleLeaf ?
Quoting ulvify
My thoughts exactly. How much did you lose man? Anyways... This takes a huge amount of time and energy. You need do dedicate yourself, and don’t give up. It’s hard in the beginning, but after a while, you will learn to know the prices, and start to care about the development in your market. Try to focus on one currency pair, and pay close attention to the economic calendar. You are using your real money, and you care about it, right?!
Quoting pemully
what prophet mapleleaf is doing is like going to those fanatical church and proclaiming that none of them will enter heaven. a waste of effort surely.
Fact 1: I do not trade RETAIL FOREX...

Fact 2: None of you make a living trading RETIAL FOREX (And never will), so I don't know why you make those questions or conclusions or why you waste your time in this forum (unless you have some other interest?).

Bye.
The Black Swan: The Impact of the Highly Improbable
  • Post #78
  • Quote
  • Edited 1:45pm Sep 8, 2013 7:13am | Edited 1:45pm
Quoting MapleLeaf
One example is HANOVER, he just lives of MT4 programming, but he doesn't do single CENT from FOREX RETAIL TRADING...
@everybody:
This guy (or woman?) has never met me, and has no access to my financial records. I live in New Zealand; his profile states that he lives in Argentina. Apparently my post here is the reason for his targeting me. Read his posts, and draw your own conclusions.
I did study mapleleafs and mingarys posts a while back to discover how they got so pessimistic. Both lost significant amounts.2k for maple and 200k for mingary.
mapleleafs aha moment came after he saw the research stating 99.6% lose.back then he was asking questions trying to be profitable.he was so relieved that the problem was not him but that the markets are a scam.

I myself I'm a skeptic but I do know Neo's who beat the markets exist. I have seen it with my own eyes.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • Post #80
  • Quote
  • Edited 12:31am Sep 9, 2013 12:20am | Edited 12:31am
Quoting hanover
{quote} @everybody: This guy (or woman?) has never met me, and has no access to my financial records. I live in New Zealand; his profile states that he lives in Argentina. Apparently my post here is the reason for his targeting me. Read his posts, and draw your own conclusions.
@everybody

Hanover DOES NOT DO a living trading RETAIL FOREX.

He does Programing, MT4 indicators, coding stuff for MT4, etc... That's the reason he spends so much time in this forum... I'm not saying anything new here, you can read his posts and check his history here.

He doesn't make a LIVING TRADING RETAIL FOREX, so DO NOT TAKE any of his ADVICE at all.

And no, there is no specific post making me post this. It's reality and your and other people "Hypocrisy".

I can't sit down and watch so much people lie like that and don't react. Obviously someone will react after so much BS.

Do you sleep well at night after so much BS?

My BET is still OPEN, and guess what? Nobody accepted it... Heh, obvious.

I know some people are getting very nervous with my posts... Very nervous by the TRUTH exposed... I have seen what they are trying to do. Unfortunately FOR THEM, they cannot CENSOR the TRUTH...

Ciao.

PD: Thanks Mingary for the support.
The Black Swan: The Impact of the Highly Improbable
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