Thread: making a living

Originally Posted by ;

My very first newbie post

From what I have read, Forex is Zero Sum so for folks to make money a lot of other individuals must lose money....

Is it truly possible for a lone trader to actually make a living.... When competing against enormous banks and financial institutions with capital and armies of cray computers?? and phd graduates

Seems there are countless systems out there that promise easy money.... Are they just get-rich-quick sc??

This just appears to be glamorised gaming.... Please pardon my ignorance !!

You're going to find out REAL fast it ain't the PhD's that make money in this game. Quite the contrary.

Do you know who would be the most prone to collapse? Doctors, PhD types the size of hills and quick cars. Do you know why? Since they HAVE to be right. And they will sabotage their loved ones, theirselves , their child's tuition, whatever it requires, to induce the market to do their bidding.

. . .and all the time, their accounts .

A lot of individuals believe they can take their success in the real world and transition it to the markets.

You know who makes the money at the markets? The man -- that geek in high school who did not give a darn what anybody and had been an outcast. He did not need to be right. He does not need to be noticed.

Everyone believes the markets are of this glamour and automobiles as well as girls. Or Oh man, that man needs to be clever to do this market thing. Hey guy, do you buy stocks and things? What do you think about DELL? LOL. . .not also close.

Originally Posted by ;

My first newbie article

From what little I have read, Forex is Zero Sum so for folks to earn money a lot of other people have to lose money....

Is it really possible for a lone trader to really earn a living.... When competing against huge banks and financial institutions with armies and huge funding of cray computers?? and phd graduates

Appears there are an infinite number of systems out there which promise easy money.... Are they just sc??

This all just appears to be glamorised gaming.... Please pardon my ignorance !!

We're funded by 1 massive mistake with a bank, that can be several long time forex profits and much more for one people, they make mistakes , and also alot of money invest in a range of investments and also dont triumph in all of them.

You've Got the 1000s of newbies who blow a few accounts and quit

I find are very successful in trading.FILE_0_EXTENSION monitoring

Originally Posted by ;

You know who gets the money in the markets? The guy -- who geek in high school who had been an outcast and didn't give a darn what anyone thought. He didn't need to be right. He does not need to be detected.

What? Have you been following me about in college?

This is going to seem gloomy.

For me personally it's much more then just the cash, or the goal of'making a living' I really really ENJOY the process of trading. It's always said, do something you like. . .have a passion for, and it will become you. (I added the last piece!)

Anyway, I was no good at collecting stamps!

Still very early in my eduion, however my life has shifted. I'm not too concerned about earning a living, since I simply enjoy it, sometimes that is great enough, and shall continue ad infinitum, (or untill I discover that Penny Black!)

Good trading to all. And recall ALWAYS learn SOMETHING from a reduction, if you must write it!

Originally Posted by ;

You know who makes the money in the markets? The little guy -- that geek in high school who was an outcast and did not give a damn what anyone thought.

Hey! That's me

Ya know, many geeks don't know a lot about sports. You know, the old jock vs nerd thing.

Well I try to be a well rounded geek. I know a little about sports.

I know that Tiger Woods is the Quarterback for the New York Yankees.

Originally Posted by ;

You are going to learn REAL quick that it ain't the PhD's that make money in this game. Quite the opposite.

Do you understand who are the most likely to failure? Physicians, PhD types, big sales individuals with ego's the size of cars and mountains. Have you any idea why? Because they need to be right. And they will sabotage their family, theirselves , their kid's tuition, whatever it requires, to force the market to do their bidding.

. . .and all the time, their accounts .

A lot of individuals believe they can take their success in real life and transition to the markets.

You know who gets the money in the markets? The man -- who geek in high school who had been an outcast and didn't give a darn what anyone. He didn't have to be right. He does not have to be detected.

Everyone thinks that the markets are of this glamour and cars and women. Or Oh man, that man has to be smart to do this market thing. Hey man, do you buy materials and stocks? What do you think of DELL? LOL. . .not even close.

GREAT POST! Thank you Mr. Trend

I'm 16 months to it and I'm making a little bit. I dropped my first two accounts. I'm a good ways away from trading for a living.

Thanks ya'll appreciate the input. I have been conducting a demo for about 7 weeks now and I'm doin with it. I'm going to fund my live account so that I can get some experience when emotions are active with proper money. Which leads me into another question, how exactly do I go about taxation payment, I am in the uk at this time, and not very sure how the tax system works over here and exactly what I need to do this I don't get charged with tax evading. I'd assume that it would work the same as working for yourself, but I could be wrong.

Originally Posted by ;

thanks she will, I appreciate the input. I have been conducting a demo for approximately 7 weeks now and I am doin pretty well with it. I am going to finance my first live account so that I can get some expertise when emotions are busy with appropriate money. Which leads me into another question, how exactly can I go about tax payment, I am in the uk right now, and not quite sure how the tax system works over here and exactly what I need to do so I don't get charged with tax evading. I could be totally wrong, although I would assume it would work the same as working on your own.

Hey MrSpot

Most traders have submitted on this topic... look at the research on left side and kind in U.K. TAXES I hope this puts you in the ideal direction!

Good Luck!