Can one earn a living from Forex?

[AKFX]

Yes it is possible, but you would need to have a built up a healthy sized trading account to cope with any downswings.

Going to full time trader is a personal thing, some may just want to jump in with two feet, or like me make the transition more carefully and phase out the secure employment.

 

[Grace wilson]

Right now I am earning a pretty buck by running my network and also working for various web design clients. Still, I would like to 'broaden' my horizons a little too. Do you think it's possible for me to earn a living from this too? Should I stick to what I already do?

Yes you can make a living trading the Forex market but you have to consistently do a lot of things right. Most traders simply do not yet possess the necessary trading skill, discipline, patience, or realistic attitude to succeed long-term in the markets.
However, this does not mean that it is impossible. You simply have to learn
what you need to do to become a consistently profitable trader, and then do it.
Brush up your skills with a demo account for atleast 6 months.

 

[Qsigma]

For your question answer is yes.

Trading is so relative. Trading can be a survival plan for someone while it can be a investor plan for another one. Let me explain. Financial Market trading is one of best way to multiply money. This is the most essential step of being wealthy. Because the money that earn should multiply.For some one this Financial market can be a survival plan. Means he/she will not multiply but gain what he wants every month. Usually i do this both. I have a survival account that support my living. i just try to reach consist with some percentage every month and i withdraw 75% - 80% from it. And also there is another account that i never withdraw. i am compounding it for years but slowly. that is my investor plan. It is practically easy to multiply several times ( practically capable of multiplying 6 times of your capital : depend on many variables) of your capital within 5 years. It is a good investor goal. Most investors try to reach.So this is how i trade full time. I believe if you are willing or if you are a full time trader you need short term goals as well as long term goals. In this all games it is better to have a good amount of money and it is better if you can create some other income sources too.

Extra Notes -------

Survival Plan:-

Assume that your monthly living cost you around 1000 usd. If you have a 1000 usd capital it is about 100% each month to make. It is so unrealistic. If you have a 5000 usd account it is about 20% each month. To do every moth it is hard. If your capital is 10000 usd it is about 10%/ If capital is 20000 usd it is about 5%. You can see when capital increases it getting easier to gain it. so never ever try to make 100% try to make 5% but with consist. Consist is the most important. So try not increase percentage but try to increase capital and lower the percentage. It will make you easier to become a full time trader with less stress.

Investor Plan :-

Try to reach rewards with lowest risks. that is most important when you compounding, the low risk. Then you can safe your capital. With time it will multiply.again try to make with lowest risks. it will let you to play long term. For investor plan.

 

[Daath]

If you think that as soon as you come to the forex market, you can immediately make good money, then this will not happen.

 

[Meztijar]

In order for there really to be an income that suits you, you need time to pass.

 

[whichbroker]

I wouldn't look to have Forex day trading as your one source of income. Many successful day traders, as many have already said, are starting with a large capital and have enough money to make mistakes early on. Start slow, build your knowledge and expertise and apply it to paper trades before going into real money trading.

 

[Brayden]

Well I know many who are making their living through forex. So yes, it is definitely possible, but only with sheer practice and hard work

 

[Andromathis]

Of course, you can earn, but you need to understand that this will not happen so quickly.

 

[Uaredaty]

Good point made by Daath. Newbies are usually asking this question in order to solve their basic need either for independency or finding a new job. It should be clear that in order to live from forex you will need at least several years of continuous experience on this market

 

[Dora_WalletInvestor]

I agree with those who say yes, you can earn a living - but it takes a lot of time and effort to get there. Until then, I would stick to working as before, and treating forex as a side hustle until you gain some experience.

 

[Finarm]

Like in any other industry, if you are a professional you definitely can, but that requires time. So be prepared to put a lot of effort into it!

 

[vicjon1995]

Yes you can make a living trading the Forex market but you have to possess the necessary trading skill, discipline, patience, and attitude to succeed long-term in the markets.
Brush up your skills with a demo account for at least 3 months.

 

[hk_09]

If you have the required knowledge, skills and expertise required to get a stable income from forex, then it might be possible. Otherwise, depending solely on forex for your earnings can be a dangerous thing.

 

[HeavenLeighGill]

Yes! But you can’t make a living off a small amount. Somebody did a study - I don’t remember the exact details but the results found that you could make around 2k -3k per month off a $30k deposit. Of course, different factors could affect that, it’s really just a sort of realistic idea.

 

[yeneffer]

With a small capital, that is quite difficult to do so. But when you are able to make a consistency profit, then there is a chance to make it happen with earning.

 

[profxindicators]

One can definitely earn a living from Forex

 

[Steveday]

Yes plenty of people do. I am trading and working part time.

 

[Jungletrader]

Yes it can be .
Depends on your monthly outgoing expenditures etc .
Also your account balance trading style RR on trades

 

[SmartX]

Yeah, you can only if you have adequate knowledge and right trading skills.

 

[ScratchyTrapped]

I think yes, but you should understand that the result wont come in a short time. And you also have to dedicate almost all your 16 hours/day for trading if you think about LIVING for that.