collapse

Author Topic: Who makes a living on Forex???  (Read 39442 times)

Offline Umar

  • Jr. Member
  • **
  • Posts: 23
Re: Who makes a living on Forex???
« Reply #120 on: October 21, 2019, 07:40:34 PM »
It all depends on your initial investment. If you enter market with $100 you would need to wait for longer time in order for your compound profits to reach decent level of capital. Right?

Offline fxopen78

  • Full Member
  • ***
  • Posts: 182
Re: Who makes a living on Forex???
« Reply #121 on: October 23, 2019, 12:06:51 AM »
It's also depending with our own skill, if still as looser hence will hard to trading for a living
but if skill already found profitable trading strategies hence make forex as main source of income is great way, I am still on learning stage but grateful still get some profit

Offline Caesar99

  • Jr. Member
  • **
  • Posts: 11
    • NotTheNoobs
Re: Who makes a living on Forex???
« Reply #122 on: October 23, 2019, 07:56:18 AM »
I've never understood the reasoning behind wanting to know how or how much others are making.  You wouldn't ask a stranger in the street and, if they told you,  surely wouldn't expect to be able to replicate this?

Online Eliza Abrams

  • Sr. Member
  • ****
  • Posts: 1481
Re: Who makes a living on Forex???
« Reply #123 on: October 23, 2019, 05:06:57 PM »
People like to compare themselves to others. The grass is always greener on the other side. :D

Offline fxopen78

  • Full Member
  • ***
  • Posts: 182
Re: Who makes a living on Forex???
« Reply #124 on: October 24, 2019, 12:26:56 AM »
People like to compare themselves to others. The grass is always greener on the other side. :D

Yes maybe, sometimes as people they not too grateful upon their result and having tendencies to compared with other people result, as human nature, they will never satisfied and always want more.

Online Eliza Abrams

  • Sr. Member
  • ****
  • Posts: 1481
Re: Who makes a living on Forex???
« Reply #125 on: October 29, 2019, 04:30:30 PM »
True. But in that case people should look at the facts - and the fact is, few support themselves through trading alone. In fact, according to official regulator statistics, about 63% of traders end up losing money.
That thought alone should cool a person's greed a little, but that's not always the case.

Offline drunkfx

  • Sr. Member
  • ****
  • Posts: 848
Re: Who makes a living on Forex???
« Reply #126 on: October 30, 2019, 04:23:21 PM »
Returns have been quite erratic recently, probably because of overtrading or taking position in volatile times what failed despite correct predictions. But in overall I make 400-500 USD monthly from trading, but there are periods of drawdowns. Trading can't be your main job if you don't have sources of alternative income.

Online Eliza Abrams

  • Sr. Member
  • ****
  • Posts: 1481
Re: Who makes a living on Forex???
« Reply #127 on: October 30, 2019, 04:28:37 PM »
If you make that much (depending on your deposit, obviously) then you are doing quite well, I would say.

Offline fxopen78

  • Full Member
  • ***
  • Posts: 182
Re: Who makes a living on Forex???
« Reply #128 on: October 30, 2019, 11:19:02 PM »
Returns have been quite erratic recently, probably because of overtrading or taking position in volatile times what failed despite correct predictions. But in overall I make 400-500 USD monthly from trading, but there are periods of drawdowns. Trading can't be your main job if you don't have sources of alternative income.
For some people, these amount profit is high result, if capable to make consistent trading result, it's possible to rely upon forex, but almost trader might prefer to trading as part-time job, because not sure will always able to make profit, this month might work well but next month still not sure will same

Online Eliza Abrams

  • Sr. Member
  • ****
  • Posts: 1481
Re: Who makes a living on Forex???
« Reply #129 on: October 31, 2019, 04:31:32 PM »
A lot of traders do view trading as a part-time job.

Offline fxopen78

  • Full Member
  • ***
  • Posts: 182
Re: Who makes a living on Forex???
« Reply #130 on: October 31, 2019, 10:42:37 PM »
A lot of traders do view trading as a part-time job.
This way is more comfortable doing forex due to risky business, one advantage forex can trade anytime, anywhere, currently platform trading support smartphone and giving easiness to access account

Offline donbon2

  • Hero Member
  • *****
  • Posts: 3092
Re: Who makes a living on Forex???
« Reply #131 on: November 01, 2019, 07:24:00 AM »
Trading full time is easily doable - but the chances of someone with no finance background or understanding of economics makes the initial learning curve very high -- as the next thing to tackle is technical analysis

these are the cornerstones to understanding trading strategy and figuring out how far markets can move based on fundamentals and technicals.

sure there is always the exception to the rule where someone with no background gets lucky or manages to outperform benchmarks - but thinking that you are that person is like winning the lottery.

I would say most retail traders lose 10k before they start to get profitable by increasing their learning and learning from mistakes - they search out information and try to turn a losing idea into a winning idea.

Since this is an EA interested site - from what I have seen from the EAs - some work really well for a period of time but then begin to fail -- others never work -- you really need to understand what the EA is doing and how to assess its risk - because a lot of the proofs are often faked.

You absolutely can beat the market if you apply yourself and arm yourself with the knowledge needed to do so -- protect your capital the best you can - and when the market is trending that is the best time to trade as much as you can - because any trade taken with the trend will move into profits and increase your account giving you more buying power to keep trading it.

anyway there are a few ideas in there - GL


Offline fxopen78

  • Full Member
  • ***
  • Posts: 182
Re: Who makes a living on Forex???
« Reply #132 on: November 01, 2019, 11:56:10 PM »
Good motivation for any trader that want to treat forex as full time business,  indeed to become master in technical and fundamental analysis required good insight and get many source information, as trader needs to understand what rumor in the world that might influence to the market movement, using ea indeed as alternative trading way, but will better if ea based on own trading system, so its really understand how it works

Offline Arsssele

  • Jr. Member
  • **
  • Posts: 40
Re: Who makes a living on Forex???
« Reply #133 on: November 09, 2019, 02:26:14 PM »
Eliza, nicely said. I also dont understand this habit with people to compare themselves with others. It is good to see what others are doing in order to learn something new, but copying the same does not mean that you will be able to make the same success.

Offline fxopen78

  • Full Member
  • ***
  • Posts: 182
Re: Who makes a living on Forex???
« Reply #134 on: November 10, 2019, 07:44:29 PM »
Yes indeed although having the same strategy and system trading, but the result is not the same, sometimes different number of capital, psychology trading, and also different broker, its become reason why the result varies each other

 

browse forum

* Recent Posts

Re: Bitcoin Discussion by Humble Trader's Fx
[Today at 04:14:05 PM]


Re: Bitcoin Discussion by Eliza Abrams
[Today at 02:38:06 PM]


Re: EUR/USD by Eliza Abrams
[Today at 02:28:59 PM]


Re: FX Autotrader Elite by diyforexskills
[Today at 04:54:27 AM]


Re: AAFX Trading reviews. Investments as an additional income source? by 2cuteEssence
[Yesterday at 03:58:54 PM]


Re: EUR/USD by Eliza Abrams
[Yesterday at 01:12:42 PM]


Re: Will forex become the most popular Earning platform in future? by fxopen78
[Yesterday at 12:53:08 AM]


Re: Good uk broker? by HFT Group
[May 26, 2020, 02:56:23 PM]


Re: EUR/USD by Eliza Abrams
[May 26, 2020, 02:31:03 PM]


Re: Good uk broker? by Jacob
[May 26, 2020, 11:07:47 AM]