Who makes real money from forex? | Forex Factory

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Who makes real money from forex?

  • #1
  • First Post: Dec 27, 2015 8:14am Dec 27, 2015 8:14am
This tread was born from a discusion with my wife...
she says every minute spent on forex trading is a minute lost, as nobody could never really earn anything from trading. Just temporary profit, but nothing sure in medium-long period.

So..is there anyone available to share his trading experience, by this pojnt of view? Quantify real money invested and real profit..say per month?
Could anyone say tjat, beetween profit and loss, at the end of a period you have real earning, as you work at office?
That's a kind of poll and not know if this is correct place,
otherwise I apologize.

Thanks!
  • #2
  • Dec 27, 2015 8:45am Dec 27, 2015 8:45am
Quoting pipartisan
This tread was born from a discusion with my wife... she says every minute spent on forex trading is a minute lost, as nobody could never really earn anything from trading. Just temporary profit, but nothing sure in medium-long period. So..is there anyone available to share his trading experience, by this pojnt of view? Quantify real money invested and real profit..say per month? Could anyone say tjat, beetween profit and loss, at the end of a period you have real earning, as you work at office? That's a kind of poll and not know if this is correct...
It depends on how you define time lost. I learnt a lot about myself during trading and I really enjoyed the trip so far but the time before becoming profitable is time being infested which will not be given back t you if you decide to step back at one time.
There are some negative experiences related to forex I have heard no one talking about so far.
In my opinion earning long term in forex/trading is possible but it bothers me a lot that I do not create real value with my work. Taking away money from some people without creating a good or offering a service does not feel satisfying and worthwhile. Trading and only being responsible for yourself is great as well. You don't have a boss you have to report to and interact with real people on a daily basis is not necessary. This leads to trading can become a really lonely occupation and I wished that I would be sitting in a room with other people once in a while.

I won't quantify earnings for you in real numbers as this greatly depends on trading system and preconditions, but my average monthly income x folded (there are rather big deviations to be found though which do not happen if you get paid a fixed salary).
I don't know how long the thing I am doing will still work and there are a few factors in my trading I am not really happy about as they depend on to little things to provide enough security as I would want to rely my entire lifestyle on it. At the moment I can not complain but I certainly am sure that I want to do another job in my life.
You will find many similar topics in the rookie section but they usually only talk about that it is possible to make x % weekly or similar.
  • #3
  • Dec 27, 2015 8:49am Dec 27, 2015 8:49am
Hi sir
i am a system developer and i earn my living from selling my trading systems .but for last two years i made some profit from trading but it is small because my trading capital is small and i am afraid to lose so much ,trading makes money but for big investors like warren buffet and sores who made billions from trading but for us we lose it from the start in spread and commissions .but some say they are making money my advice when you make money grab it and run away and your wife is so wise and i really think you should thank god for having such a wise person near you all the time
have a nice day sir
focus while relaxed to see better
  • #4
  • Dec 27, 2015 8:53am Dec 27, 2015 8:53am
this is my open positions now i will show you them later trading with bitcoins it is small amount about 60 $
Attached Image
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  • #5
  • Dec 27, 2015 8:54am Dec 27, 2015 8:54am
my target is 465 in bitcoin and in eurusd 1.12 lets watch hahahah for me it is a game it is just bitcoins
focus while relaxed to see better
  • #6
  • Dec 27, 2015 8:58am Dec 27, 2015 8:58am
you need a long term out look and a great life like mine hahahah i invested in bitcoin mining and i am using them for trading thats all i finished the life of losing money and this month i will buy a new i phone 6s
focus while relaxed to see better
  • #7
  • Dec 27, 2015 9:19am Dec 27, 2015 9:19am
hi,

your wife has genuine concern do not leave your day job to trade fx unless you know what you doing, demo trade for long time to understand and confirm that you can really make money from this market, please do not risk real money until you are 100% sure about profits you will generate, I have seen many people losing money and losing whole family some times. please dont do any thing stupid and love your family much.

good luck.

to be honest after having a decent and proven system you will need decent money to start with, if you start with too little because of the pressure of paying bills even the genuine and good system will give you losses. so make sure just like other businesses you have decent investment to start..also dont forget to chose a good broker who will give you your profits back.
We are proud to be most consistent signal provider in entire industry.
  • #8
  • Dec 27, 2015 9:53am Dec 27, 2015 9:53am
Thanks to all,
I have a real job, but it's not enough for my family..so trading is the only thing I found in this year to increase a little my earnings...
The problem is you haven't the whole life to test your strartegies, so after some tests (say some months) you try with real money, with very small account (say 200 EUR), and you say: if it works well, I'll invest more!
But after some win, you begin to loss, so you stop this strategy and begin again with demo, with an other strategy...
Therefore I'm asking myself: what is the secret of anyone who really earn from forex?...
  • #9
  • Dec 27, 2015 10:18am Dec 27, 2015 10:18am
Trading should not be the desired source of income if you are really depended on it. And there is nothing like making a living from trading after testing a system for a few months.
  • #10
  • Dec 27, 2015 10:18am Dec 27, 2015 10:18am
Quoting pipartisan
This tread was born from a discusion with my wife... she says every minute spent on forex trading is a minute lost, as nobody could never really earn anything from trading. Just temporary profit, but nothing sure in medium-long period. So..is there anyone available to share his trading experience, by this pojnt of view? Quantify real money invested and real profit..say per month? Could anyone say tjat, beetween profit and loss, at the end of a period you have real earning, as you work at office? That's a kind of poll and not know if this is correct...
if we speak in general terms, your wife is right. there are a lot more losers in this business than winners. to end each month with profit is not easy. hallucinated newbies will definitely say something different but the hard truth is over 90% of traders leave forex after failures, some within a few months, some within a few years.
As Above, So Below
  • #11
  • Dec 27, 2015 10:59am Dec 27, 2015 10:59am
Quoting pipartisan
This tread was born from a discusion with my wife... she says every minute spent on forex trading is a minute lost, as nobody could never really earn anything from trading. Just temporary profit, but nothing sure in medium-long period. So..is there anyone available to share his trading experience, by this pojnt of view? Quantify real money invested and real profit..say per month? Could anyone say tjat, beetween profit and loss, at the end of a period you have real earning, as you work at office? That's a kind of poll and not know if this is correct...
get a money? yes and same with the other field it need lot of things to learn, practice, time experience etc.
be billionaire? do not know, same with other field of business. no one know when and how his time come to be billionaire. lot of people open a pizza business, but only a small member that can be billionaire from that. the others there bankruptcy with huge debt, change to other business and etc.
that my opinion.
regards
we don't predict, we only ride
  • #12
  • Dec 27, 2015 10:59am Dec 27, 2015 10:59am
waste of time.. ? i think no !

I prefer have fun to make EA than watching tv !
  • #13
  • Dec 27, 2015 11:00am Dec 27, 2015 11:00am
Hi to all,
reading your post I say "they're right"; but when I see hundreds of thousands threads on this forum and houndreds other like this I ask myself: is it a hobby? I couldn't think all people who spend houndreds of hours in coding EAs or testing strategy aren't seriously intentioned to ean real money!

When you read, like in http://www.forexfactory.com/showthre...29#post8203829, how couln't I say "me too I'd like to earn real money for 3 years!" (if it's truth, of course)...
  • #14
  • Dec 27, 2015 11:17am Dec 27, 2015 11:17am
Quoting pipartisan
This tread was born from a discusion with my wife... she says every minute spent on forex trading is a minute lost, as nobody could never really earn anything from trading. Just temporary profit, but nothing sure in medium-long period. So..is there anyone available to share his trading experience, by this pojnt of view? Quantify real money invested and real profit..say per month? Could anyone say tjat, beetween profit and loss, at the end of a period you have real earning, as you work at office? That's a kind of poll and not know if this is correct...
FX wasn't waste of time for me and I learned a lot of things from it when I'm thinking about from where I began this journey I'm feeling that I learned a world of new things from it and still learning.
FX is not the only option you have for adding to your earnings! I recommend you to try other things like Bitcoin(P2P lending, Mining, Trading).
Without an edge MM is useless!
  • #15
  • Dec 27, 2015 11:38am Dec 27, 2015 11:38am
I don't believe it is any more difficult than any other endeavor you take on. In my opinion, most will fail because they treat this like a hobby and not a business. Keep an eye on the forums here at FF. During the week, interactive trading and trading discussion are the most active forums. On the weekends it is Trading Systems. Why is that? Because many have fallen into the trap I fell into years ago in searching for the best and newest systems in hopes of finding a better edge. This was especially true when I had a losing week. For me at least the problem wasn't the system but the trader. I saw the biggest improvement in my trading when I stopped looking for someone else's system and started creating my own. No fancy super duper custom indicators that no one else had, just the basics. I would spend 16+ hours a day on the weekends running trade simulations and watching how the markets moved. I would spend every free second I had during the week in front of the screen either trading or watching the markets. This meant that many days during the week I would only get 4 hours of sleep. I didn't mind because I knew that if I was willing to put in the time and EFFORT that eventually I would figure it out and begin to make money in Forex. Some called me obsessed, those people still get up every day and go to a job they hate.

You must do everything you can to build your skills. Learning anything new requires complete dedication. Most people will try to learn Forex by sticking their big toe in the water when in order to learn to swim, you must jump in.
  • #16
  • Dec 27, 2015 11:42am Dec 27, 2015 11:42am
Stoping after few losses sounds like terrible idea. You have to consider the Law of big numbers. You´ll have losses in bascily every trading strategy. The key is not to get ruined from them (moneymangement) and to have surplas in a long run (year+). Changing strategy after every few losses wont take you anywhere.
  • #17
  • Dec 27, 2015 12:06pm Dec 27, 2015 12:06pm
I earn my living from FX. It took me a few years to become consistently profitable and then a few more to build my $ investment to the point where it would supoort me and my family. I lost some cash at the start, mostly due to impatience. Those days are long gone.

I dont have losing days or losing weeks or even losing months, because I do not place that sort of performance pressure on myself - I assess my profitability on a quarterly basis. Developing patience and looking toward a longer term trade horizon were two major factors that assisted me to move from going backwards (losing $), to moving forwards and growing my account.

I agree with others in that FX is a business and should be approached with a business mindset - at least that is what works for me. I have owned and operated other businesses for 20 years and never have I sat there at the end of each and every day stressing about my profitability for the day. Budgets, planning, strategy, effort, passion, attention to detail and patience took care of profitability. Could this apply to FX trading? Think about that for a minute..................

Personally, I never paid much attention to the numbers kicked around FF about other traders profitability - it was and still is irrelevant to me as I am really only concerned about my own numbers and what works for me. I have been trading the same "strategy" for almost 6 years and it is still just as simple and effective as it was back in 2009.

I am not going to quote specific dollar amounts, but I will provide an indication. 39-57% account balance increase per quarter does me quite nicely. When you break those numbers down to a daily/weekly expectation, they are really quite modest but also quite achievable.

My final point - A grain of sand is very small in this world, however if you are able to gather enough of them you could have a beautiful looking beach .

K
If there is ever any doubt then there is no doubt.
  • #18
  • Dec 27, 2015 12:23pm Dec 27, 2015 12:23pm
Quoting Kristo
I earn my living from FX. It took me a few years to become consistently profitable and then a few more to build my $ investment to the point where it would supoort me and my family. I lost some cash at the start, mostly due to impatience. Those days are long gone. I dont have losing days or losing weeks or even losing months, because I do not place that sort of performance pressure on myself - I assess my profitability on a quarterly basis. Developing patience and looking toward a longer term trade horizon were two major factors that assisted me...
thank so much for your comment, but of course i'd like to know how works your strategic if it's possible, thank so much again
  • #19
  • Edited 1:17pm Dec 27, 2015 1:04pm | Edited 1:17pm
It is possible, but it got a lot of time(more than four years of my life) and health, in addition to cause Friends' ridicule. Finally I did it, I did it, this was important to me while nobody hopes. And then I reached to freedom. I left my official job, I work at home. And more important that, I and my family can go any where of the world and be sure I can earn money! and live there.
  • #20
  • Dec 27, 2015 1:24pm Dec 27, 2015 1:24pm
Quoting pipartisan
This tread was born from a discusion with my wife... she says every minute spent on forex trading is a minute lost, as nobody could never really earn anything from trading. Just temporary profit, but nothing sure in medium-long period. So..is there anyone available to share his trading experience, by this pojnt of view? Quantify real money invested and real profit..say per month? Could anyone say tjat, beetween profit and loss, at the end of a period you have real earning, as you work at office? That's a kind of poll and not know if this is correct...
You wife is concerned, as many are (including my own) that you income is not "guaranteed" and is therefore uncertain whether or not you will be profitable. She most likely wants something "secure" so she can stop worrying about that and move on to the next worry. From this point of view, she is right. Any money made in any trading endeavor is always uncertain. It is this way from the stand point of one never knows "for certain" whether a particular trade will be profitable or how much profit it will eventually make. Her concerns are very human, but ignorant of the true nature of our business.

Many do fail in this business for many different reasons, but the most common is thinking one can just start trading and make money. Or that is is "easy" to buy low and sell high. While it may be simple it is NOT easy. Imagine trying to build a skyscraper after reading all about it online, or doing open heart surgery after watching a few "do-it-yourself" videos. This endeavor is graduate level task, and requires the same kind of commitment to success.

I do make my living by trading. I am able to at least do 50% a year if not double my account. I have good days, and I have some really crappy days...it is all part of the job. Everyone has good and bad days. If you are just starting out, you are well advised to educate yourself as much as possible while you are still earning a living with your current employment. Not because it is more secure, but because it is what you are currently using to keep the lights on. Think of a Medical Student that works delivering pizza's while he/she is going through school. Even after completing your education, you will still need to go through the "poverty" of getting it right, just like a doctor going though residency.

Trading for a living is not less legitimate, and is demonized by many who are ignorant of what it actually is. My own brother still tells me to get a job, every time I buy him lunch!!

This business requires dedication and commitment and will open your eyes to who you really are, in order to control your own greed and fear. It is an honest endeavor and allows you the freedom to work as YOU see fit. If you are truly committed to your success and willing to dedicate yourself to a (literally) never ending journey of learning new things. You will do well. How long that takes, and how much money you make will be entirely up to you.

It is not quick. It is not easy. But it is rewarding on both a personal and financial level.
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