Attachments: Is it Possible to Make Money in Forex Market

Is it Possible to Make Money in Forex Market

#141
Nov 5, 2012 10:10pm Nov 5, 2012 10:10pm

meng88
| Joined Oct 2012 | Status: Trader | 159 Posts

Quoting newschool

Disliked

So .... why are you here?

Ignored

I bet this is sarcasm. If we couldn't earn on Forex, we wouldn't be here.

#142
Nov 6, 2012 8:35am Nov 6, 2012 8:35am

eadesy77
| Joined Nov 2012 | Status: Trader | 4 Posts

Hi,

I am new. Was reading on the first few posts about something called Vegas. Can someone please direct me to find more info please.

Thanks

eadesy77

#143
Nov 7, 2012 10:03pm Nov 7, 2012 10:03pm

meng88
| Joined Oct 2012 | Status: Trader | 159 Posts

Quoting eadesy77

Disliked

Hi,

I am new. Was reading on the first few posts about something called Vegas. Can someone please direct me to find more info please.

Thanks

eadesy77

Ignored

I am pretty sure you are talking about Vegas Tunnel Method. Vegas wrote about it: 'The Tunnel Method I am giving you is the culmination of 20+ years of research and trading. It worked then, it works now, and it will work in the future. I believe it works best in currencies and the S&P futures contract.'. There are H1 and H4 versions. Try to find more in Google, because there are a lot of information about that on the internet (and also reviews).

#144
Nov 8, 2012 6:14am Nov 8, 2012 6:14am

eadesy77
| Joined Nov 2012 | Status: Trader | 4 Posts

Hi Meng,

Thanks for the reply do u have any links for me too look at?

Thanks

eadesy77

#145
Nov 10, 2012 3:26am Nov 10, 2012 3:26am

Mingary
Joined Mar 2011 | Status: I should be on your ignore list | 5,597 Posts

Quoting newschool

Disliked

So .... why are you here?

This market is so huge that if you can make a reliable 1$ profit a day, you could scale up to 10 000$ a day...

Ignored

Unfortunately this is another fallacy.

#146
Nov 12, 2012 1:53am Nov 12, 2012 1:53am

meng88
| Joined Oct 2012 | Status: Trader | 159 Posts

Quoting eadesy77

Disliked

Hi Meng,
Thanks for the reply do u have any links for me too look at? Thanks

Ignored

I sent you PM, don't wanna post any links right here, some people may think it's advertising, which I don't do))

#147
Nov 12, 2012 10:49am Nov 12, 2012 10:49am

WideEyed
| Joined Nov 2012 | Status: Trader | 119 Posts

Quoting eadesy77

Disliked

Thanks for the reply do u have any links for me too look at?

Ignored

Re Vegas, I found this using the forum's search function: http://www.forexfactory.com/showthread.php?t=4365

The zip file seems unavailable but the Word docs make for interesting reading.

#148
Nov 13, 2012 4:50am Nov 13, 2012 4:50am

ddinnov
| Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts

Quoting aparsai

Disliked

I am a novice player in Forex Market. I started trading without any background and lost some money. Then I decided to learn how to trade! Anyway, I studied some books (Getting Started in Currency Trading, and the John Murphy's Technical Analysis book, and a couple more). Eventually I registered in a Technical Analysis course through Canadian Securities Institute.

I've already tried to develop some trading strategies and tested them on InterbankFx plattform. Apparently one the strategies works well. I'll be done with the Tech Analysis...

Ignored

1. Is it really possible to make money for a living through FX market? Yes it is possible, people do it

2. If yes, how long would it take? As long as it takes you to become consistently profitable and make enough profit to support your lifestyle. Your account will need to be large enough to produce enough to support you from a realistic gain and proper money management. How much do you need to live on a month? take that amount and calculate it as a 5% gain from an account that risks 1-2% per trade. So if you need $5k USD/month you can producs that with a $100k account if you make 5%/month risking 1-2% per trade.

3. Is there a chance that I manage to quit my daytime job and stick to FX market as my only source of income? If you can achieve tha above yes

4. If yes, how long would it possibly take? As long as it takes you to achieve above and build an account to the required size

5. Is there some body out there that really makes over $100k per month through Forex trading? If yes, how? Can I reach that point the future? Do the same math as above and see how much you would need to generate $100k/month. It's probably quite a big account needed.

Anything can happen.

#149
Nov 15, 2012 2:05am Nov 15, 2012 2:05am

Mingary
Joined Mar 2011 | Status: I should be on your ignore list | 5,597 Posts

Is it Possible to Make Money in Forex Market

Short term: Yes
Long term: No

#150
Nov 15, 2012 9:43am Nov 15, 2012 9:43am

huchonok
| Commercial User | Joined Jan 2012 | 181 Posts

Quoting aparsai

Disliked

1. Is it really possible to make money for a living through FX market?
2. If yes, how long would it take?
3. Is there a chance that I manage to quit my daytime job and stick to FX market as my only source of income?
4. If yes, how long would it possibly take?
5. Is there some body out there that really makes over $100k per month through Forex trading? If yes, how? Can I reach that point the future?

Ignored

1. Yes, it is really possible to make money for living through fx market
2. It depends only from a person
3. You can really do so
4. It took over 5 years to one of my friends to achieve such results
5. I suppose that this information is confidential and nobody wants to show it off

#151
Sep 22, 2014 7:44pm Sep 22, 2014 7:44pm

tony95
| Joined Mar 2013 | Status: Trader | 184 Posts

Wow, yep. That about sums up that last 5 years of my life. Close to being profitiable I think, but not yet.

Quoting Bear73

Disliked

Aparsai I am normally reluctant to post on here because last time I posted I got bombarded with questions that I didn't have to time to answer. You can make this a living if you want. Alot of people will tell you this system and that , but you have to remember that each persons brain works differently and only you can tell what works for you. The person that originally showed me forex , makes a substantial amount each month from forex , more than a 65 year old guy (my teacher) can spend , but didn't work for me. I ended up using a system that was...

Ignored

#152
Sep 22, 2014 8:36pm Sep 22, 2014 8:36pm

MapleLeaf
| Joined Dec 2010 | Status: Trader | 638 Posts

Quoting Mingary

Disliked

{quote} Unfortunately this is another fallacy.

Ignored

Exactly.

That's PART of the gambler's fallacy applied to FOREX Scheme. Only someone not smart enough can think that way, and is the reason why 99.6% of people lose money in this scheme.

http://en.wikipedia.org/wiki/Gambler%27s_fallacy

Nothing else to add. For now.

The Black Swan: The Impact of the Highly Improbable

#153
Sep 22, 2014 9:28pm Sep 22, 2014 9:28pm

TradeDream
| Joined May 2014 | Status: Trader | 114 Posts

Of course it's possible. Look at prop firms for example, they only profit what their traders can make from the markets. That's it.

Is it an ideal environment to become a great trader? Yep. But the point is that an edge is possible. It's certainly not easy though.

#154
Sep 23, 2014 12:28am Sep 23, 2014 12:28am

Mingary
Joined Mar 2011 | Status: I should be on your ignore list | 5,597 Posts

Quoting TradeDream

Disliked

Of course it's possible. Look at prop firms for example, they only profit what their traders can make from the markets. That's it. Is it an ideal environment to become a great trader? Yep. But the point is that an edge is possible. It's certainly not easy though.

Ignored

"Prop firms" just have more money to lose over time. They don't do any better than individuals (trader at home type). They do last longer (sometime) because they have access to OPM and if they are smart they can milk it for all it's worth.

#155
Sep 24, 2014 8:48am Sep 24, 2014 8:48am