Can you actually live off Forex trading?
Page 1 of 505 123 ... LastLast
Results 1 to 10 of 41

Thread: Can you actually live off Forex trading?

  1. #1
    Hello everyone.
    This is my very first post on this forum.
    Before I started writing this I read a lot of the threads and discussions here and people's remarks, etc..
    I am very new to Forex trading. I just started studying babypips.com and becoming acquainted with the terminology and fundamentals. It is very interesting and I enjoy it. I plan to find out as far as I can for a little while by reading forums and sites which have information, and I'll be opening a demo account and play around for a few months to truly understand what this is all about.
    I will take my time and I am not likely to put any actual money for the future of at least 6-8 months.
    I do however have a few questions, Can normal men and women, with small capital ($1000-$3000) make money and live off trading Forex?
    Does knowledge actually help and do you get better with experience and does this really make a difference?
    I love to play with poker from time to time and I've been enjoying for quite a while. Forex trading, seems to me it is a lot like poker. There is a lot of luck involved, maybe even more than poker. Am I right?
    The idea I have in my head at the moment is that unless you've got some quite serious capital to invest in the first place(100k and up), then you don't have any chance at earning money without actually just gaming. Even then you are gaming, but you've got a better chance of staying alive long enough to make profits.
    I would really appreciate your comments and guie. Thanks.

  2. #2
    Having never had poetry for a reply, I find myself somewhat confused. Is it a gesture?

    I've eliminated the unneeded from a screen grab from one of our pairs on Friday. The snap is from shortly before 07:00 to 18:00 and lets assume one understands nothing about Currency Market trading or technical analysis.

    When I just told one to'Buy' when you see a green arrow and'Sell' when you see a red one.
    We're a bit more smart than this and can confirm we pulled the following outcomes from this chart this friday. The nuts and bolts of it aren't for this forum nor the profit egy we applied.
    Points generated:
    96 55 33 21 54 71 22 39 41 46
    No losers.
    These levels are out of the actual entry of the signal, not just the most attractive pub after the fact.


    I grant it was a normal day and we did not trade beyond mid-morning because this wasn't our only chart. I would want to see a screen grab of your egy you've exchanged on Friday please? Or if you would like me to grab some currency pair of your selection on Friday, using our template and I shall be delighted to upload, in case you accuse me of deciding upon a grab to match me.
    Or more prose?

    HP

    PS: Its my very first screen grab answer and I apologise if it wasn't a victory.

  3. #3
    Quote Originally Posted by ;
    Hello everybody.
    This is my first post on this forum.
    Before I started writing this I read a lot of the threads and discussions and people's remarks, etc..
    I am extremely new to Forex trading. I just started reading babypips.com and getting acquainted with the language and fundamentals. It is very interesting and I like it. I intend to find out as much as I can for a little while by reading forums and websites which have information, and I will be opening a demo account and play around for a couple months to truly understand what this is all about.
    I'm going to take my time and I am not planning to put any actual money for the future of at least 6-8 months.
    I do however have a couple questions, Can ordinary people, with little funds ($1000-$3000) make money and live off trading Forex?
    Does wisdom really help and do you get better with experience and can this really make a difference?
    I love to play poker from time to time and I've been playing for quite a while. Forex trading, seems to me it is a lot like poker. There's a lot of luck involved, maybe even more than poker. Am I correct?
    The idea I have in my mind at the moment is that unless you have some quite serious funds to invest in the first place(100k and up), you don't have any chance at making money without really just gaming. Even then you're gaming, but you have a better chance of staying alive long enough to make profits.
    I'd genuinely appreciate your comments and advice. Thanks.
    Good title! hahah

  4. #4
    I will take my time and I'm not planning to put any actual money for the future of at least 6-8 months.
    I do however have a few questions, Can normal men and women, with little capital ($1000-$3000) earn money and live off trading Forex?

    Am no expert but I believe 6-8 months is too short and also I don't think 3k is enough to earn a living from...

  5. #5
    Plan annually play, first and to learn. But yea, you are able to live off trading. W/ $1000? Eh, not really easy... but there is always luck.

  6. #6
    You have no chance whatsoever of earning a living off of a small account such as 3k. What is the minimum? I dunit's a hell of a lot more than 3k. Likely 50k are a minimum, and that's assuming you can actually make money trading Foreign Exchange, which is highly improbable. I am not exxagerating.

    Forex is a brutal business. I would say your probability of making a living trading Foreign Exchange is on par with your possibility of making a living playing golf. It's tough as hell. My advice for you is to discover a pro and learn from them.

  7. #7
    Thanks a lot for the information and advice.
    I am not looking at Forex to actually earn a living, I was just curios if it's potential and what are the chances if at one point in the future I would decide to do so.
    From what I have read so far, I probably have more chances of earning money playing pokerthan trading.
    I do have my own company in web development, so I am considering Forex more as a pastime and to find out something new.

  8. #8
    Quote Originally Posted by ;
    I'm going to take my time and I'm not likely to put any actual money for the near future of 6-8 months.
    I do however have a couple questions, Can normal men and women, with little funds ($1000-$3000) earn money and live off trading Forex?

    Aren't any pro but I believe 6-8 weeks is too brief and also I do not believe 3k is sufficient to earn a living from....
    It will be quite hard infact almost hopeless, but the truth is when u trade a demo u think about direction along with the fear of losing commerce is there but on dwell account this sense is like *10 the more u shed the more u try to restrict the loss and the more u end up losing...

    my advice to u is clinic on demo, read books till u feel u have mastered the art, only then will u stand a chance...

    I myself started trading using 3K and felt cmfotable today today m y balsnce is 1.7k and am fighting to keep my cash. . .on demo I felt I mastered trading. .

    The problem is trading is all about maximise win and reducing loss, u have to be able to let a commerce run it authentic course without being scared the position goes against u.. .which is a challenging task for any1 who has a little balance. . .on demo try and keep all the requirements the same as u would on live. . .try to maximise reduce and win loss. . .if this can be reached by u then u have everychance
    Otherwise then u will find yourself in a sitaution where u win 20 times and two losses wipe out your wins and a great 95% of traders fall in this mount due to pyscology
    the battle is in the mind....if trading was roughly only direction and cash wasnt involved there will be more winners than lossers. . I only hope that the longer I commerce the more diluted the panic becomes and eventaully I can earn money...I had been quite close but last month, I lost a fair bit only because I attempted to restrict FX, believing it cant violate all encourage and it did. . .lol

    great fortune

  9. #9
    Verti, here is your opinion of an expert trader with more than 30 years expertise. Of course distinct professionals utilize various egies, so his is not always the only real window into'gospel truth'. But IMHO it is a thought-provoking and worthwhile read.

    Welcome to the forum, and good luck with your trading jobs.

    David

  10. #10
    Quote Originally Posted by ;
    Can ordinary people, with small funds ($1000-$3000) earn money and live off trading Forex?
    Yes.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information