People will tell you it isnt possible to make a living from forex

[Variss]

It is true that you can make your living solely from forex trading. But, dont think that this is easy to do. You will need several years of experience, good trading strategy, invested significant amount of money and cool mind. Choice is yours

 

[hk_09]

It is true that you can make your living solely from forex trading. But, dont think that this is easy to do. You will need several years of experience, good trading strategy, invested significant amount of money and cool mind. Choice is yours

Agreed, achieving the goal is possible no doubt, but the road to that achievement is not easy at all.

 

[HeavenLeighGill]

I believe it’s possible but you have to have the right mindset, education, and a big enough investment. Most people lack one or more of these. There was a study done at one point (don’t remember exact details- maybe someone else does) but they determined that you could make around 3k a month off a 30k investment. Of course, this was using a certain strategy that was mostly profitable but the point was just to provide a ballpark estimate of what one could expect.

 

[Oswald]

consistent profit is hard; you are not in control of the market

 

[fargana]

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Hi all,

Hope you are well. Most people that we interact with on a daily basis will tell us that it is not possible to make a success or even a living from trading the forex markets. I was lucky enough to find a course that made me think different and gave me a positve perspective. I truly feel that we can all be a success, please leave reply's if you would like to discuss your own successful forex journeys or have questions on my journey into forex in particular.
Thank you for taking the time to read and I wish you all the best on whatever you decide

Thanks and Regards

Gurps

So can you share any practical advice how to improve our performance?

 

[Antho]

It's definitely possible to succeed in forex trading, but it's wise to have another source of income as well. Diversifying your income streams can provide financial stability while you build your trading skills.

 

[Ara]

Absolutely agree! Having another source of income is a smart move while you build your trading skills. Diversification provides financial stability.

 

[Phill88]

It's definitely possible to succeed in forex trading, but it's wise to have another source of income as well. Diversifying your income streams can provide financial stability while you build your trading skills.

Yes, that's great, but what other sources of income do you have in mind? A job?

Post automatically merged: Jun 4, 2024

Absolutely agree! Having another source of income is a smart move while you build your trading skills. Diversification provides financial stability.

The question is what this source of income is, and how much of your time it takes. And how much time does it leave you for trading?

 

[Ara]

Yes, that's great, but what other sources of income do you have in mind? A job?

Post automatically merged: Jun 4, 2024

The question is what this source of income is, and how much of your time it takes. And how much time does it leave you for trading?

For me, it's freelancing. It takes about 20 hours a week, leaving plenty of time for trading.

 

[Amy4]

it's certainly possible to make a success out of trading forex but it's important to note that only a small percentage of traders achieve consistent success. Therefore, relying solely on forex for income can be risky.

 

[Phill88]

For me, it's freelancing. It takes about 20 hours a week, leaving plenty of time for trading.

How many hours do you typically spend trading each week?

Post automatically merged: Jun 25, 2024

it's certainly possible to make a success out of trading forex but it's important to note that only a small percentage of traders achieve consistent success. Therefore, relying solely on forex for income can be risky.

I think we need to define what we consider 'success,' for example, in terms of money. So, the question is, if trading earns you $12,000 a year, does that make you a successful trader?

 

[Zane Brown]

You can make a living from forex, but be realistic, it will take some 10+ years of experience

 

[rmufti68]

Forex trading does not promise to become rich right over the night however with constant practice and learning, we can make a good living out of this industry.

 

[David79]

Whats your biggest lesson?