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Is it Possible to Make Money in Forex Market

Quoting newschool
So .... why are you here?
I bet this is sarcasm. If we couldn't earn on Forex, we wouldn't be here.
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
Quoting eadesy77
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
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).
Hi Meng,

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

Thanks

eadesy77
Quoting newschool
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...
Unfortunately this is another fallacy.
Quoting eadesy77
Hi Meng,
Thanks for the reply do u have any links for me too look at? Thanks
I sent you PM, don't wanna post any links right here, some people may think it's advertising, which I don't do))
Quoting eadesy77
Thanks for the reply do u have any links for me too look at?
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.
Quoting aparsai
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...
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.
Is it Possible to Make Money in Forex Market

Short term: Yes
Long term: No
Quoting aparsai

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


Quoting Bear73
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...
Quoting Mingary
{quote} Unfortunately this is another fallacy.
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
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.
Quoting TradeDream
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.
"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.
Quoting Mingary
Is it Possible to Make Money in Forex Market Short term: Yes Long term: No

Have to agree with you on this one.
You can earn, the question is how much? Not everyone can make millions on trade and it is a fact.
Quoting Parox
{quote} Have to agree with you on this one.
Can you tell me, please, why? Is buying more unpredictable than selling?
Quoting Dunno67
{quote} Can you tell me, please, why? Is buying more unpredictable than selling?
He meant long and short as in time, not buy and sell.
Quoting JensG
{quote} He meant long and short as in time, not buy and sell.
oh, now it's clear thanks
Quoting JensG
{quote} He meant long and short as in time, not buy and sell.
Lol
Never buy cuz you will loose money, only sell
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