Is it Possible to Make Money in Forex Market - Page 2
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Thread: Is it Possible to Make Money in Forex Market

  1. #11

  2. #12
    I am setting conservative aims to begine with... I am doing a clinic account and trying to average $100 per day (5 day weeks, $500 per week) until I've saved up a real-life sum of at least $2,000 (likely 12 - 16 months) to give it a try. If I can't sustain the ordinary gain of $100 per day at the time I get $2k saved I'll continue to practice until I can, and my first funding will just keep growing until I know what I am doing.

    Only bought two books about technical analysis and I think charts almost all day and dream them at night I speak with my co-workers ears off about this stuff since I find speaking about something makes me recall it better.

    I also think one can make a living from FOREX, my goal income is on the low side but I don't expect to live in a castle and push 7 different Ferarris or anything

  3. #13
    Thanks so much for responding to my questions. Now, I am confident that I am on the right track but I need to become individual. I will do my best to become actively involved in discussions and ask futher questions as I go ahead.

  4. #14

    I'm normally reluctant to post on here because last time I posted I've bombarded with questions I did not have to time to reply.

    You can make this a living if you want. Alot of people will tell you that this system and that , however you have to bear in mind that each persons mind functions differently and only you can tell what works for you. The person that initially showed me Currency Market , makes a significant amount each month from Currency Market , over a 65 year old man (my instructor) could invest , but did not work for me. I wound up with a system which was made for stocks and overlayed from what I'd been taught along with the 2 of them together really made serious points. There was a study performed in New York approximately 12 years ago with 20 pupils, they were awarded 5 different trading egies , the amazing thing was a different 20 percent exceled in each trading egy , meaning that each persons brains operate slightly differently.

    You Need to follow the Bruce Lee method of learning. His personality , was as he said , All styles and none , that is to say he learn't all but did not utilize a lot of it but knew the significance of it along with the notion. I know an awful lot about techincal analysis , but because of my trading I use very little of what I've learn't , but I still understand everything else.

    I would make sure that you learn as much about your traders thoughts along with the psych as you can , because over time this is 10 times more significant than the technical analysis , and also risk management that is what really makes you money , not the analysis of these charts. For instance , I had been reading a novel called Trading in the Zone by Mark Douglas , all your traders thoughts , in there he mentions about a Risk Free Trade , basically having a trade which you're unable to loose money on and that this completely changes your thinking , you become a lot more goal and a lot clearer as well as the levels of emotions are decreased considerably. I basically added this on to my egy of having a zero quit following being profitable by 20 points , I had a larger quantity of non profitable trades (ie , not creating a thing), however the amount of successful trades (not loosing anything) moved into the 90% level of my transactions , and the average amount of points profit per trade increased , though I had been getting a higher percentage of trades being stopped out to get a zero.

    If you are really seriously interested in doing so and making very decent cash , I would become a Bruce Lee and find out as much as you can , without accepting any guru with this system or , you will go in a circle and feel overloaded from information and then you will simplify your egy and risk management and get to the next level. The earlier you're your own man the more quickly you will get to make a decent living from it. You should be able to get it done in 2 decades , if you do not look for quick cuts and are prepared to open your mind to new ideas but at the exact same time not accepting them as reality. Bear in mind that this system may work now , but eventually it will stop functioning , but the market's greed and fear mindset won't ever change. It is the exact same now as when the Japanese started the first futures market in the world for rice within 500 years ago....

    From my own advancement and speaking to other professional traders over time , your development should approximately follow this route-

    1) Excitement as finding the pot of gold which will solve all of lifes problems
    2) Following a gurus egy without issue
    3) Becoming disenchanted when you realise that the machine has flaws
    4) Thinking that if you find out more things will make it a lot easier to get transactions right
    5) Learning every bit of technical analysis you can looking for something which will provide you 100 percent of right trades
    6) With technical paralysis , having 6 distinct things giving contradictory signals and not taking a trade whatsoever and then beating yourself up for not taking it and overlooking points as soon as your gut feeling told it was going to move there
    7) Concentrating on something and having it move right all the days but getting stopped out to them in the bottom of a pullback
    8) Lightning bolt ! Realising the reason you're not successful is not because of your egy , but your mental state and the willingness to totally accept risk
    9) Recognizing that the market is not an absolute and it's a graphical representation of the collective thoughts of in infinate variety of traders all thinking indepentantly and unless you understand the reasons why the market reacts to items you won't ever have any religion in the technical indiors you're using (creating a new low in stocks, means EVERY holder is now loosing money , etc etc etc )
    10) Holding the market as a whole and anything could happen and only your risk management will stop you doing severe damage and that there's always tomorrow and another transaction and there's absolutely no need to worry if you miss this one.

    I'm a professional trader and following many years of trading in home , have recently decided to work for a major trading home again as I'm going exhausted and lonely at home. What they asked me at the interview were not exactly what my trading egy was , but about my mental space and risk management , as to them which was more significant than your egy or your win/loss rate. That should tell you something....

    I know this article does not let you know the magical formula to press this button or that and make money, but it is my hope that this helps you anyhow.

    Have a good day !


  5. #15
    Hi Aparsai

    Welcome. It's surely possible to make a very good living trading forex. Please research what Dial wrote and I quote Expect to have forex on the mind for 4 to 8 hours each day during your learning phase. Including reading great novels, analyzing charts, thinking about it and fretting about it. Think preoccupied.

    Trading is a travel and you'll discover more about yourself in the upcoming few days and months. There is no secret/magic formulation to success as a trader. All you actually need is loads of effort, a lot of patience, Iron Discipline (plogical content), a fantastic forum (like this one)and over all you need to enjoy what you are doing.

    Happy trading

  6. #16
    Word of advice, choose place #15 of the thread by Bear73 and copy it and paste it in a word processing appliion. Read it, know it, and examine it again. Post #15 is what trading is all about. You might not know it today, but with more experience and as time continues in the learning process, this post will get crystal clear.

  7. #17
    Quote Originally Posted by ;

    I'm normally reluctant to post on here because last time I posted I got bombarded with questions that I did not have to time to reply.


    I know this post doesn't tell you the magic formula to press on this button or that and make money, but it is my hope that this helps you anyway.

    Have a good day !


    You are amazing. I am really happy I posted these questions. The steps that you mentioned are almost exactly like what's happened to me thus far. It will definitely helps to draw a brighter future in gambling. I really do beleive in everything you said and can not explain how thankful I'm by your incredible answer. I will save it somewhere secure for later use.

    I also ought to thank Dial and many others.


  8. #18

    I Believe everybody answered your questions in Complete details and they said the same thing, Therefore I'm not going to repeat what they said...I just wanted to Mention that if you are doing Everything you like to Perform, for sure you will make money on the long haul....Just do Not Feel too much about the Cash, Consider Your trading decisions and how you can Create Decent trading calls and Choices and Cash will follow...



  9. #19
    Quote Originally Posted by ;

    I believe everybody answered your questions in complete specifics and they all said the exact same thing, so I'm not going to repeat what they said...I just wanted to say that if you are doing everything you'd like to do, for certain that you will make money on the long haul....Just do not feel a lot about the cash, think about your trading decisions and the way you are able to make decent trading calls and choices and cash will follow...


    Agree!! Trade to trade well....the currency will eventually follow!!

  10. #20
    Quote Originally Posted by ;
    So .... Why are you here?
    I bet this is sarcasm. If we could not make on Forex, we would not be here.

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