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

  • #241
  • May 25, 2015 1:06am May 25, 2015 1:06am
Quoting Nfp
{quote} i agree with you...but..majority of trader has no idea what he/she doing...
I was one, in fact, I know I don't know yet I don't know what I'm doing, but know more than 3 months ago, now I know I was totally blind.

Come on man, how much time have you been trading? You can't give up (IMO) just because you don't find the right strategy yet.
A good strategy for trading is... the opposite of having a bad strategy.
  • #242
  • May 25, 2015 2:03am May 25, 2015 2:03am
Quoting PowerTrade
{quote} I was one, in fact, I know I don't know yet I don't know what I'm doing, but know more than 3 months ago, now I know I was totally blind. Come on man, how much time have you been trading? You can't give up (IMO) just because you don't find the right strategy yet.

it is not about strategy ..

it is how deep u understand with current market and how to take those opportunity
  • #243
  • May 25, 2015 2:14am May 25, 2015 2:14am
Quoting Nfp
{quote} it is not about strategy .. it is how deep u understand with current market and how to take those opportunity
I'll keep training.
A good strategy for trading is... the opposite of having a bad strategy.
  • #244
  • May 25, 2015 3:39am May 25, 2015 3:39am
Quoting GrowthHack
few years before i thought trading was easy and can learn within 3 month but it takes 3 to 5 years to learn successful trading strategy but sure there is some profitable methods .. experience is mater
I also agree totally on this.
It takes 3 to 5years to master and then trading is almost second nature.
The moves are almost all the same all the time.
X-man the legendary conqueror of markets
  • #245
  • May 25, 2015 4:26am May 25, 2015 4:26am
Quoting X-Man
{quote} I also agree totally on this. It takes 3 to 5years to master and then trading is almost second nature. The moves are almost all the same all the time.

u know what most mistake people doing in forex?


they love to backtest ..this is very stupid approach


experience is matter ...and at same time..u know what a thing that u deal

i have 12 workers..
  • #246
  • May 25, 2015 7:05am May 25, 2015 7:05am
Quoting PowerTrade
{quote} Without source how can I know if this is true? Then I also "know", that USA Government was responsible for 9/11, that toothpaste is made to control population, and that Ovni's are part of the Illuminati conspiracy to take over the world, that's what I know, it's enough.
calm down mate , here's a research study from Barber, Lee, Liu, Odean, and please note that this is daytrading studies on Stock market (not FX) over 15-year period ... http://www.forexfactory.com/showthre...12#post7964012
Quoting PowerTrade
I also know that most of the people in any area "fail" at something, but if you don't keep trying and learn, you won't be succesful at anything.
If I keep learning and trying, I'll be closer to the 1% "you know", than to the 99% I already am part of.
Sure, of course it is. i dont like being pessimistic my self, since we cant achieve anything with that attitude,
I see it all in between ...
  • #247
  • May 25, 2015 10:23am May 25, 2015 10:23am
Quoting Thx
{quote} calm down mate , here's a research study from Barber, Lee, Liu, Odean, and please note that this is daytrading studies on Stock market (not FX) over 15-year period ... http://www.forexfactory.com/showthre...12#post7964012
Thanks.

Another thing, I think that most of the people who get losses, come to Forex waiting to become rich in one week, just like the people who buy pills to lose 30 pounds without excercising and eating hamburgers in one week (I would bet 100 pips about it).

After the big lose, they quit (just like with diets).

If I fail, will be trying for real.

After 20 trades, I am on my initial point (400$ on demo). And the three trades where I lost money, were my fault, I didn't confirm nor followed my strategy.
A good strategy for trading is... the opposite of having a bad strategy.
  • #248
  • May 26, 2015 3:22am May 26, 2015 3:22am
Quoting X-Man
{quote} I also agree totally on this. It takes 3 to 5years to master and then trading is almost second nature. The moves are almost all the same all the time.
You just said exactly my words. But I usually say 4 years at least to become a good trader and then after 6 years you can depend entirely on forex trading if you are honest in your learning.
  • #249
  • Dec 14, 2015 9:29pm Dec 14, 2015 9:29pm
Quoting Nfp
{quote} it is not about strategy .. it is how deep u understand with current market and how to take those opportunity
thats why information is very important for any trader to predict the price movement.
with a good analysis trader can use information to predict price movement, even not always work, but if they improve their analysis skil again and again they can become professional trader.
  • #250
  • Oct 8, 2016 12:48am Oct 8, 2016 12:48am
Quoting MapleLeaf
You cannot pretend to make a living from Trading FOREX, because you cannot predict the future. If you want to make a living, you have to actually work. Work hard and work smart. Yes, both. Do you like investing? Invest in real things. Do not pretend to make money from trading thin air....... forums to complain that they just lose it all. Nobody here complains, but 99.6% of people lose money in FOREX. Exactly the same as in the Casino Scheme. Brokers and Vultures steal people's money and people don't complain at all. They remain silent, because they...
What's all that complaining?? 
Why so negative?? 
Why are you in the forum even?
 
Of course people can make money. Forex is just business.  50 to 70% of businesses fail in the first couple years... So ? 
Smart people can survive and make it to the 5% successful. Look around.  Where did you suck the 99.6% from?? If it's American study, it doesn't matter. Everyone knows Americans are less that super smart I'm so polite
But trade safe.
Beware of robber banks (RB), bad advisors.
  • #251
  • Oct 10, 2016 12:25am Oct 10, 2016 12:25am
it took me 8 full-time years to slowly reduce my gambling and start to use more thinking than feeling
big money makes big moves and then hides during small money chasing.
  • #252
  • Oct 10, 2016 11:16am Oct 10, 2016 11:16am
I been going about 2 Years if you put all the time together and I still haven't gone live, but getting there...
  • #253
  • Jan 5, 2017 11:46am Jan 5, 2017 11:46am
Quoting corrman
it took me 8 full-time years to slowly reduce my gambling and start to use more thinking than feeling


Took me almost 8 years myself ;-) Most of those part time, 2 years full time now. Tough road, hence why few make it
@pawpaw1000 on Twitter
  • #254
  • Jan 5, 2017 1:28pm Jan 5, 2017 1:28pm
when we trade we should be able to do your best, and could in the way of learning is done as in the demo account. it can not last long in forex trading is dependent on the skill maximum trading capabilities
  • #255
  • Jan 6, 2017 11:02pm Jan 6, 2017 11:02pm
Quoting pawpaw1000
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...

This post actually gave me some hope. i will follow the 3 demo account idea and work on doubling them before going live.... AGAIN lol.
thank you
  • #256
  • Jan 8, 2017 7:10am Jan 8, 2017 7:10am
Excellent post...I have defiantly improved since I started 3 years ago... It takes work and practice to improve. People have to remember that you have to work at it as if you were learning any other set of skills.
  • #257
  • Jan 9, 2017 5:31am Jan 9, 2017 5:31am
Yes, one can make a living off forex, but it takes years of study, practice, stress, patience, effort, probably sweat and quite a few tears. Or at least it did for me and I am still learning.
  • #258
  • Jan 15, 2017 1:38pm Jan 15, 2017 1:38pm
Nice post man, respect!
  • #259
  • Jan 15, 2017 8:42pm Jan 15, 2017 8:42pm
Hi OP,

Thank you for posting such an interesting topic.
I think this topic is not new, but is an often debated question.

I hold a well-paying, full time job and I have set aside a growing portfolio of investments, mainly in domestic stocks, bonds and ETFs.
I have studied forex while I was still in school and have aimed to attain knowledge along the way, until I was confident enough to trade live.

Now that I have a full time job, I setup different entry points on my charts to capture small profits along the way while I am at work.
The profits that I get are by no means massive, but they are enough to act as extra pocket money for a good meal now and then.

In 2017, I have switched my broker from a market maker into an ECN provider, to hopefully, help me reduce lead time in my trades.
I have only been trading for about 5 days now off a $10,000 base, off a starting 0.1 lots to see if my strategy is sound for me to do this long term.

In theory, I could potentially increase my earnings significantly just by increasing my base and lot size, but for now, I will stick with what I have.
Based on my calculations, I might be able to make a decent living out of this but I have no intentions of doing so at the moment.
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  • #260
  • Jan 16, 2017 8:30am Jan 16, 2017 8:30am
Quoting carddard
Hi OP, Thank you for posting such an interesting topic. I think this topic is not new, but is an often debated question. I hold a well-paying, full time job and I have set aside a growing portfolio of investments, mainly in domestic stocks, bonds and ETFs. I have studied forex while I was still in school and have aimed to attain knowledge along the way, until I was confident enough to trade live. Now that I have a full time job, I setup different entry points on my charts to capture small profits along the way while I am at work. The profits that...
very good result!
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