If you keep losing for 1 year , you should know , get a proper job and stop gambling.If you lose for a month , market is saying you are gambling.
Can one earn a living from Forex?
- Thread starter dojo
- Start date
- Watchers 76
If you keep losing for 1 year , you should know , get a proper job and stop gambling.If you lose for a month , market is saying you are gambling.
you should trade full time, only when you are able to make a living out of it. else, do keep your regular job
That is not correct .If you have a profitable EA , you don't need to trade , EA will trade for you.
On forums you get blind leading the blind
Yes, I make a profit on forex every year. It is not as unusual as it appears.
CitiBank used to have a retail forex operation, but that was closed down a couple of years ago due to changes to U.S. law that made the venture not as profitable as their parent CitiGroup thought was prudent.
CitiFx published outstanding materials for their clients. One of which was on the profitability of retail forex traders.
The short answer is that for high net worth clients approximately 40% are profitable.
A far cry from the statistic that 90% are losers. This 90% figure has no basis in fact, but has been repeated so often it is taken to be part of the gospel of retail forex. For Citi clients with lower balances the rate of profitability dropped off so that only 20% were profitable.
There was a post earlier today citing a BBC news article about changes the FCA wants to make to UK brokers. One of the changes is that brokers are to advise that 80% of traders lose money. The obvious implication being that 20% achieve break-even or better. For low dollar accounts this statistic seems to fit with the American data from Citi.
I would suggest that your source data is the flaw. Internet forums are filled with trolls, scam artists, and fantasists. Genuine discussion among long term profitable traders would be very difficult to find. I shall stop there.
CitiBank used to have a retail forex operation, but that was closed down a couple of years ago due to changes to U.S. law that made the venture not as profitable as their parent CitiGroup thought was prudent.
CitiFx published outstanding materials for their clients. One of which was on the profitability of retail forex traders.
The short answer is that for high net worth clients approximately 40% are profitable.
A far cry from the statistic that 90% are losers. This 90% figure has no basis in fact, but has been repeated so often it is taken to be part of the gospel of retail forex. For Citi clients with lower balances the rate of profitability dropped off so that only 20% were profitable.
There was a post earlier today citing a BBC news article about changes the FCA wants to make to UK brokers. One of the changes is that brokers are to advise that 80% of traders lose money. The obvious implication being that 20% achieve break-even or better. For low dollar accounts this statistic seems to fit with the American data from Citi.
I would suggest that your source data is the flaw. Internet forums are filled with trolls, scam artists, and fantasists. Genuine discussion among long term profitable traders would be very difficult to find. I shall stop there.
Yes, it is entirely possible.
But it isn't easy.
You can't just come in and expect to be making tons of money by week's end.
It takes time, learning, putting a system in place, perfecting that system, some more study, patience, discipline and a willingness to LOSE quite a lot.
When you have all those things - you're ready to start trading.
But be ready for a marathon - not a sprint.
But it isn't easy.
You can't just come in and expect to be making tons of money by week's end.
It takes time, learning, putting a system in place, perfecting that system, some more study, patience, discipline and a willingness to LOSE quite a lot.
When you have all those things - you're ready to start trading.
But be ready for a marathon - not a sprint.
Obviously, people can earn good money from this highly volatile sector of trading. But, to do so, a trader needs to dedicate a good amount of time to learn and to apply and to understand the market thoroughly. One can constant his or her earning through Forex trading if the person determine to flourish his or her career in this field.
I've been trading for 4 years and also invest in rental property. I try to keep both separate so Forex capital was solely 2 years of savings from when i used to work full time and is now my full time job. Rental property is where my money goes to be invested from the Forex savings now. So completely achievable to make a living from Forex trading 
I've heard many stories about how people have made big profits from Forex, which allows them not to work in other directions. So I think anything is possible. Another thing is what kind of income you are interested in, which is enough for you. As far as I am concerned, it is not the last thing that matters is the initial capital. I think it should be big enough to make a decent profit for you, your family and your home. On the other hand, if you already have a core business, maybe you should leave Forex as a source of additional income for the time being. In general, this is a brave decision, I know many people who would not agree to change what they already have to something new and incomprehensible. Well, you know, maybe it won't work out, etc. In any case, good luck with any of your decision.
Similar threads
