Forex as a Future?

I've read your acid negativistic comment and I've decided to tell you my story.
I entered this world of investment many years ago, maybe 8 or 9. And it's a tough environment with ups and down, even it can have great rewards in terms of money and satisfaction it's heavier to nearly impossible for the most of the "traders" - I'm sorry to say this, even if it sounds arrogant, but it's not for everyone. To cut to the chase, I tell that this year I've made a big jump and I've assumed a great responsibility: it became for me, unexpectable dream/result. I've deposited some 700 USD and almost lost it all while trading with high-risk on EUR/JPY, there were so many abrupt up and downside moves, therefore I was dizzy and I've been hedged for locking some early losses I've lost control and a very strong movement caught me not-hedged enough and I've lost almost all of my money. When my I almost lost it all, I have deposited 100 plus dollars and I've looked for potential strong moves on few currency pairs. I've made an Elliot waves-based analysis even if I am not an expert and I've risked it all 100 and something dollars on a "presumably" future downside movement from its very top.
I began to add risky positions as the currency pair was firmly melting. And I've recovered it all the loss and made some profit out of it. I remember that from almost 97% drawdown on equity I've come back. And after regaining my losing money and achieving almost an impossible task, I've decided that I have to quit my job which I did. Since June, this year, my only income is from trading.
I've assumed a great risk trading for a living but it's worth it, despite some bad days - my overall performance it's great and I am proud I've exchanged the comfort of a job for trading. I've caught all big moves on GBPUSD. I had some troubled trades sometimes but when I consider that a certain trade isn't worth expecting and there is not price coming back soon I cut the losses in "flesh": like I did on GBP/USD few days before BREXIT vote - I cut almost 60% in losses, when I've decided not to be short anymore until the BREXIT vote.
In order to survive in this field, you need to make deep cuts in the flesh - when is needed, if not you are doomed. This is not working for perpetual denial people and for the weak gizzard people - definitively not!
You need to be strong to survive as a retail trader!

Just because you could not achieve something means its impossible.

You cant deny that there is a possibility even if its .01% that there is someone out there living the Forex dream life , and if its possible why not make it so its me or you....

Well from the situation that we are seeing right now, I think Forex Trading would have a great future. It is a 24 hour market and I think it will be there for a long long period.

Forex market has always been determined even during the financial crisis and had always kept the open scope of growth. While on the opposite side, the traditional classes strive to survive.

From past few months we have been noticing that the trading volumes have increased drastically. Now, more and more traders are moving to automated trading. The growth of Forex markets in electronic trading and execution speed can help to provide better opportunities in future. The better trading systems have brought the retail traders and institutional investors at same level. It brings same kind of opportunity to all the investors. It definitely assures a better future for retail traders as they can trade without any hindrances with best possible trading strategies and electronic trading platforms.

I completely agree that if high leverage leads to higher profits, it also increases underlying risk for investors at the same time. Even, I have also seen many traders who have wiped out their accounts in very short span of time due to higher leverage, but also there are traders who have made huge profits due to higher leverage in their account, it all depends upon profitability of you strategies and luck.

You are right but some people are very successful in trading some just scalp with a pretty big lot size or some just swing trade with great risk management and just watch their money grow

Forex Trading is very much unpredictable and many traders end up losing all their money, thus we need to be utmost careful while dealing with Forex Trading.

 

In forex trading is that we can not continue to always make a profit, sometimes we'll get the loss in trading, and the loss can not be eliminated. But we need not worry, though can not be eliminated, but we can minimize the risk of such trading, so thus can obtain a better profit.

That is what everyone should keep in mind. But it is hard to make some strategy or style of trading (or whatever you call it) that is working that way. But nobody said life is easy.

That's is better to realized sooner otherwise later is very painful.. Dear...

 

I completely agree. Big profits are a good thing, but consistency is what carries a trader through tough times. Not to mention that through consistency profits to get big eventually.

I ain't no prophet, but from what I see, the future is bright! No matter risks involved, Forex is here to stay.

True. As long as there are different currencies and people willing to trade them and make money off of it, there will be a Forex market.

http://www.forexbrokerz.com/news/now...binary-options

Now France joins the countries who ban advertising of forex and binary options...... well done!

To all retailers who still think about "Forex as a Future" ..... finally switch on your brains and stop shoveling money in to the pockets of retail forex brokers.

Won't take long till their business dries up in Europe and soon in all other relevant parts of the world......

Pathetic actually.

I can understand if they ban gambling all together but to single out FX, well that just idiotic.
What they should do is not ban but educate.

FX can be a very profitable asset class provided you treat it as an investment.

this will be a dramatic step backwards, where before the 90's Forex was the playground of the "professionals".
Protecting the people should be done by education and transparency, not by obfuscation

Trading might not be exactly simple, but we better make it be simple, if we want to be successful then we need to make sure put it as simple as possible and only then we will be able to gain rewards. but with doing forex trade, our future is bright.