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Who makes real money from forex?

  • #161
  • Mar 31, 2016 5:25am Mar 31, 2016 5:25am
I've made real money. My first year I took $700 to almost $5000. And most of that gain was in a couple months. You need a plan and you need focus.
  • #162
  • Apr 4, 2016 6:51am Apr 4, 2016 6:51am
That's a very weird question, especially here. Forex is not a pyramid, it's natural that people do real money here, otherwise it would be the most successful conspiracy project ever lol
  • #163
  • Apr 6, 2016 9:03pm Apr 6, 2016 9:03pm
I was able to make real money in forex . Forex is a lucrative business. To make money in forex then we need to learn and practice many trading well. So that our capacity will increase. Forex is a business that has many advantages but it also has a lot of risk, and therefore we should be able to trade with a maximum
  • #164
  • Apr 11, 2016 10:06am Apr 11, 2016 10:06am
Large banks and hedge funds actually make money here, but small traders are also able to do it if they trade well You just need to stick to your trading strategy and always practice (at least on a demo account).
  • #165
  • Apr 13, 2016 9:35am Apr 13, 2016 9:35am
It is possible to make a net profit each month provided you have a decent system and can follow the rules. Accounts getting exploded is usually because of people getting too greedy.

As an example, I am aiming for 0.1% of my account size in profit per trade-able day. Since there are 250 working days in the year, that equates to 25*0.1=25% increase of account size per year. Which bank can give you 25% interest on your savings? (I am not advocating putting your life savings into Forex, just trying to illustrate a point!!) So lets just say you would be happy with half of that at 12.5%. To achieve that, you only need 0.05% of account size as profit per trade-able day. This is totally achievable by the vast majority of traders, however, this is not satisfying enough for majority of traders.

As an aside, using my very conservative mental approach, I am 6% up on my account in 3 weeks as I am **highly** selective on my entries and will not trade at all if my trading rules are not met. Ofc what I have said will be worth a lot more if I am still having a net positive account at the end of 12 months so take what I say with a grain of salt.
  • #166
  • Apr 14, 2016 5:55am Apr 14, 2016 5:55am
If it is asked about money, then I guess market makers make real money from forex
  • #167
  • Apr 16, 2016 2:33am Apr 16, 2016 2:33am
My partner and i both trade so i have support in my endeavours ive only just started making a profit in the last few months ive been trade for about 3 years how much money you make obvously depends on your account size one thing i have learned is to have low risk so i trade .01 for every $1000 i have made about $680 this month so far off a small $3000 account so really the world is your oyster you either have to be very patient and slowly build your account or invest more money anyway good luck hope you make a profit
  • #168
  • Apr 16, 2016 12:21pm Apr 16, 2016 12:21pm
Quoting mozart4646
My partner and i both trade so i have support in my endeavours ive only just started making a profit in the last few months ive been trade for about 3 years how much money you make obvously depends on your account size one thing i have learned is to have low risk so i trade .01 for every $1000 i have made about $680 this month so far off a small $3000 account so really the world is your oyster you either have to be very patient and slowly build your account or invest more money anyway good luck hope you make a profit
Enhorabuena mozart4646!!!
You are persistent, if I´d lose during 3 years I doubt I´d continue trading anymore.....
So, you made 22% last month, that´s great...now the challenge is trying to do it consistenly, but I guess you will do it. Your advices are wise, most likely fruit of 3 years of up and downs...
Good trading, and please let us know your montly success, many traders are in need to hear how some colleagues overcome difficulties before achieve the goals...keep it up!!!
  • #169
  • Apr 16, 2016 1:17pm Apr 16, 2016 1:17pm
i never have a losing month this year. average i made 33 fold monthly. at least i can do it until now. the future is still dark but i believe i ca do it again continuously.
  • #170
  • Apr 16, 2016 1:40pm Apr 16, 2016 1:40pm
Quoting antonb1985
{quote} You have answered your own question. You test, it fails, you try something else. You need to pick one method and learn it because in the eyes of the market every trader is equal. What makes the method or system effective is not the method or the system it's the trader. Adopt it, baby it, learn it inside out and stick with it. There is no secrets. There isn't something special someone else know that makes th profitbale it's the fact they adopted a method and learned where, when and why it works bcause nothing works all the time. YOU CANT...
For most traders your post means nothing!!!
But, you said everything in a few words...yes, Price Action, that´s the answer...
  • #171
  • Apr 16, 2016 2:40pm Apr 16, 2016 2:40pm
Quoting forexintradi
{quote} Enhorabuena mozart4646!!! You are persistent, if Id lose during 3 years I doubt Id continue trading anymore..... So, you made 22% last month, thats great...now the challenge is trying to do it consistenly, but I guess you will do it. Your advices are wise, most likely fruit of 3 years of up and downs... Good trading, and please let us know your montly success, many traders are in need to hear how some colleagues overcome difficulties before achieve the goals...keep it up!!!
Thanks persistence and patience is the key i changed to the daily charts and it works for me tried scalping and it didnt work but i think anyone can learn how to trade if they put in the hours but now i only need to look at the screen for 15 minutes a few times a day to check my trades i think a small lot size in proportion to your account is essential but its only been 3 months of profit so far so im in no hurry
  • #172
  • Apr 16, 2016 2:48pm Apr 16, 2016 2:48pm
If you want to be a doctor you spend six years at university studying living off a student allowance to hopefully one day have a good career and have a bright future so 3 years is not that big a deal to learn something new i have other sources of income so im not worried how long it takes
  • #173
  • Apr 16, 2016 3:02pm Apr 16, 2016 3:02pm
Agreed. Just be patient. Most people expect to deposit 1k, throw a bunch of indicators on the screen and expect to be a millionaire in a month. When they dont, they quit after a year. Reality is, it will take u at least 3-5 years to breakeven or start making partial profit. What's worst is most traders handicap them selves from learning how to actually trade by using indicators as a crutch. They spend first couple of years thinking that if they throw 10 indicators on the chart and buy at oversold levels somehow they will make a prifit. They problem is that when price evloves it has multiple potential outcomes so when your stochastic is oversold, guess what it will still head lower. But I know my words will fall on deaf ears and people will continue to do the same ole thing, by thinking testing indicator parramiters will make them rich. In the end most will end up on the other end of the meat grinder and eventually quit.
  • #174
  • Apr 16, 2016 3:52pm Apr 16, 2016 3:52pm
I dont use any indicators i think they are a waste of time better to look at the charts for price action
  • #175
  • Apr 19, 2016 5:24am Apr 19, 2016 5:24am
Quoting mozart4646
I dont use any indicators i think they are a waste of time better to look at the charts for price action
However, there are multiple accounts of people who have made millions by using indicators.

In reality, it doesn't matter whether you use PA, order flow, indicators, astrological projection.... These are only ways of getting into the market.

The absolute key is managing your trade once you are in the market.. whether it be no SL, scalping for 1 pip or whatever... There is a reason why good traders can take a losing system and be successful and a bad trader can take a winning system and make it a loser... People can take the exact same trades at the exact same prices, and one trader will be profitable, and another will not be. You can have a negative pip balance and still be a profitable trader...

The ONLY thing that matters is that you are up in dollars over the LONG term. ANYTHING else - opinion, fact,, preference... whatever, has no bearing on whether you are successful or not.
  • #176
  • Apr 19, 2016 7:21am Apr 19, 2016 7:21am
Quoting rolandW
{quote} However, there are multiple accounts of people who have made millions by using indicators. In reality, it doesn't matter whether you use PA, order flow, indicators, astrological projection.... These are only ways of getting into the market. The absolute key is managing your trade once you are in the market.. whether it be no SL, scalping for 1 pip or whatever... There is a reason why good traders can take a losing system and be successful and a bad trader can take a winning system and make it a loser... People can take the exact same trades...
You have good points Roland.
I agree almost everything you estated, but I want to mention something about the indicators, tools, etc...Even there are some guys making good money using all the indicators and tools, I thing this the long way to learn how to be profitable, and you have to have a very good understanding of all the system, regardless most likely you need some previous or learned background...I thinks it is much, much difficult way than price action. My opinion.
  • #177
  • Apr 19, 2016 7:29am Apr 19, 2016 7:29am
Quoting forexintradi
{quote} You have good points Roland. I agree almost everything you estated, but I want to mention something about the indicators, tools, etc...Even there are some guys making good money using all the indicators and tools, I thing this the long way to learn how to be profitable, and you have to have a very good understanding of all the system, regardless most likely you need some previous or learned background...I thinks it is much, much difficult way than price action. My opinion.
I think it depends on the trader - Indicators and tools, are more mechanical - a numbers based game basically...

I find that PA, order flow etc far more subjective.

My personal opinion would be that Indicators are easier! haha!

not that either opinion is less valid than the other, it is what suits the individual. I do find that indicators get a bad rap by the 'purists', but my point was focused more on what you do when you are in the trade, and the entry is just the means to an end.

Both ways can be profitable.
  • #178
  • May 5, 2016 8:53pm May 5, 2016 8:53pm
Everyone is capable of doing forex trading, but not everyone is able to benefit a lot from forex. only those who patience and discipline that will benefit in forex. therefore we need to keep patience and discipline in forex trading
  • #179
  • May 6, 2016 5:04am May 6, 2016 5:04am
ok lets say who actually earns in forex?

- the brokers earns
-the IB earns
-the trader earns (if done correctly)
-advertising companies earn from advertising forex

what im trying to say its an industry out there, many people lets just say traders actually earn and not a lot talk about, its something about talking about profits that holds back people, i dont earn big, i do make withdrawals from 500-2000 if trading is good, at times i just dont withdraw or even lose. thats forex trading.
  • #180
  • May 10, 2016 2:36pm May 10, 2016 2:36pm
When i started out on forex in 2013 , i lost money all the year , tried 100000 different systems .
On 2014 i discovered it is simple on reality , finding the trend ( pairs trading between 0.20%-0.50% after the open have always the best probality of going up/down a lot) , depending of the situation i can drag a fibonacci retracement with the help of the fibonacci fan for double confirmation and elliot waves. That 3 concepts made me profitable.
Then , on 2015 i discovered the power of the MACD . MACD is great to see cycles , things who happened on the past repeting on the present (you can check my thread if you want , i explain that thing on it ) an then my trading had a huge boost and i made a lot of money. I reached 60,000$ in 3 months after the beggining of 2015 , and then , i lost ALL of it in one single trade . That day i learned the importance of controlling risk , and that most of the time a losing position will keep being one.
Then i started it all over again and i am doing great right now .
But there is a very important thing to know : I am very young , i dont need to worry about nothing , i can take the risks i want and make a lot of money making risky things on forex , if i lose , who cares ?? i simply dont have family or something like that to worry about.
Yes , its possible to make a living from this market , but you really should only risk money you can afford to lose . Its a lot harder to try to make money on this market when the person have more then 40 years old for example. Because they constantly are worried about the money. The trader starts thinking he cant lose because of this or that , and then he starts losing , forex is a very psychological thing. Before i take any decision on forex i always think : f**k it , if i make 250k this year or if i lose 250k this year , it changes nothing (of course its better to make the 250k) but i dont need to worry about a thing.
My advice is : Get really a lot of experience on a demo account , and when you feel prepared , open a real one , and only deposit money you can afford to lose , if you really dont need 100$ every month , then deposit 100$ every month on it . You will lose money at first probaly , then you will learn to be disciplined , and after that good times will come my friend.
Hope it helped (sorry my english btw)
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