3 Things I Wish I Knew When I Started Trading Forex

Can I make a living trading Forex?

The forex market is unique due to the sheer number and variety of traders who are active in the space. Unlike stock exchanges, forex markets are open twenty-four hours a day and span the entire globe. Forex trading is unlike any other market-based activity. With over $6.6 trillion moving through foreign exchanges daily and a tiered-market system, traders can make or lose a small fortune in a very short period of time. Making a living at it requires patience, discipline, and dedication.
Here we discuss if it possible for an individual trader to make good money for living trading Forex: https://tickeron.com/blogs/can-i-make-a-living-trading-forex-7230
submitted by tickeron_community to ai_trading [link] [comments]

Can I make a living trading forex?

Yes, of course!
Forex is a place where traders can speculate and earn money on price movement. Forex is a job absolutely the same as other jobs, IMHO.
Let’s compare Forex trader with cashier in the store, bank employee, and forwarder in a logistics company: 1581503504741.png Beginner who wants to work as a cashier will have to learn how to use cash machine, count money and customer communication, only 3 main functions. It will take not more than 1-2 weeks to become good cashier in a store. It will bring money for living. Beginner who wants to become bank worker will have to be familiar with financial sphere, probably pass banking courses, work with specific computer programs, be ready to communicate with customers, and work with money. Become good bank employee will take some weeks. The higher position in the bank, more need to learn and know. It also will bring money for living. Beginner who wants to be a forwarder in a logistics company, will have to do more functions. As minimum need to learn information from Internet or pass some courses – to understand how logistics works, etc. Then it is necessary to start communicating with customers, offer good services conditions, provide specific information about cargo, documentation and so on. It will take some months to become advanced worker in this profession. It will bring money for living as well. FOREX – Beginners who want to become successful Forex traders and earn money for living will have to: MAIN rule – don’t expect that Forex will bring you profit when you start trading, so you have to get somewhere money for living, while you are learning Forex and reach the point when Forex brings you amount of money that is comfortable for living. learn Forex information by their own, searching it in Internet, watch some courses, or visit a local city Forex courses. Everyone choose his or her own learning method. Practice trading on Forex terminal that you chose. I recommend to practice on demo account, so you could increase your trading skills and experience without spending money. Find or build your trading method that will have loss-profit ratio as minimum 1:1+, so you could get more profit rather than loss. After you reach the aim for getting more profit than loss, you move to real account and start trading. Strictly follow your trading strategy rules, don’t trade on emotions, and control money management. In a result Forex trading will bring you profit for living.
All you need to know about Forex Trading Signals check this out:- https://www.top10tradingplatforms.com/forex-signals/
Some traders are fast learners and start trading Fore after several months, but some learn slowly and it can take years. Don’t give up, and always go forward.
You can see now that any job you would do, need to learn, and every profession need different information and time for learning. In any profession you will earn money for living.
So, Forex can also bring you profit for living, everything depends on you.
Wish you to be independent Forex trader!
Dorrow Green
submitted by Rohitpure to u/Rohitpure [link] [comments]

Can I make a living trading forex?

Yes, of course! Forex is a place where traders can speculate and earn money on price movement. Forex is a job absolutely the same as other jobs, IMHO. Let’s compare Forex trader with cashier in the store, bank employee, and forwarder in a logistics company:
  1. Beginner who wants to work as a cashier will have to learn how to use cash machine, count money and customer communication, only 3 main functions. It will take not more than 1-2 weeks to become good cashier in a store. It will bring money for living.
  2. Beginner who wants to become bank worker will have to be familiar with financial sphere, probably pass banking courses, work with specific computer programs, be ready to communicate with customers, and work with money. Become good bank employee will take some weeks. The higher position in the bank, more need to learn and know. It also will bring money for living.
  3. Beginner who wants to be a forwarder in a logistics company, will have to do more functions. As minimum need to learn information from Internet or pass some courses – to understand how logistics works, etc. Then it is necessary to start communicating with customers, offer good services conditions, provide specific information about cargo, documentation and so on. It will take some months to become advanced worker in this profession. It will bring money for living as well.
  4. FOREX – Beginners who want to become successful Forex traders and earn money for living will have to:
Some traders are fast learners and start trading Fore after several months, but some learn slowly and it can take years. Don’t give up, and always go forward. You can see now that any job you would do, need to learn, and every profession need different information and time for learning. In any profession you will earn money for living.
So, Forex can also bring you profit for living, everything depends on you. Wish you to be independent Forex trader!
Hi Trader,
Please take some time to view myfxbook.
Demo account been running non stop for 12 months averaging 20% a month. http://www.myfxbook.com/members/Virtuo/mt4-vit-demo-01/3287325
Live account had been running for 7 months averaging 19% a month. http://www.myfxbook.com/members/Virtuo/mt4-vit-01/3287333
Price . The price is 500 usd this includes the EA and my personal set files for 5 pairs which is all you need to make 10%-20% a month.
submitted by Rohitpure to u/Rohitpure [link] [comments]

Is making a living trading Forex possible?

Hey everyone!
First let me give you some background. I live in Mexico, I'm a scientist (Biotech), but science is the least priority in Mexico, never the less I'm one of the lucky ones in Mexico, because only 10% of the population in Mexico makes more than $440 usd a month ($10,000 pesos), and I'm currently making around $500 usd a month.
You might think, $500 a month and you are part of the top 10%?, yup, that's life in Mexico. I already spent 6 years in college, I'm totally willing to spend another 10 years learning a new skill if that means at least making more that $500 usd a month.
I've been studying technical analysis for the past year, and I've been trading on a paper account for at least 6 months, but I'm nowhere near profitable.
Yes, I'm setting a stop loss, yes I'm only taking at least 1:3 risk reward trades, yes I'm only risking 2% per trade, but I'm still loosing money.
Is it possible to make a decent living trading Forex? I know one year of experience is nothing, I didn't learn to play the guitar in a single year, but I wonder if I'm better spending my next 10 years in another skill like marketing, or something else.
submitted by yared_cf2 to Forex [link] [comments]

Can you make a living trading on forex?

Hello,
I am an investment professional, work for a large fund, investing in equities.
Forex has interested me for a while. However, I have always been highly skeptical about it (and so is every person in the investing industry I know - including our highly-educated currency traders).
I would be interested to hear your views, however.
On its face it seems impossible to make a living trading Forex:
(1) There is no famous investor / billionaire who has made it by Forex - i.e. who has achieved consistently good results over many years (and there are many who have done so by investing in other financial instruments) - which suggests that, in the long term, you will lose (like in a casino);
(2) Most (all?) of the people who praise Forex and claim to have had stellar performance tend to sell books/courses/etc. - which would be a waste of time if they actually had consistently good forex performance.;
(3) The industry ("experienced" investors, educators etc.) lacks transparency. I have never seen anyone capable of presenting good long-term performance track record objectively verified by a third party.
Yes, I know there are people who have had a series of great trades (there were plenty of those in dotcom bubble times in equities as well), but I am more interested in the ability to perform well across cycles, over many years...
I will be looking forward to hearing your responses... and being proven wrong.
Thank you for your help.
Dante
submitted by Dante_A to Forex [link] [comments]

Is it easier to make a living day trading stocks or forex?

Is it easier to make a living day trading stocks or forex?
submitted by SirValor to Forex [link] [comments]

Can you actually make money in forex?

Has anyone here actually been able to quit their day job and make a living trading forex? I’ve been demo trading for 6 months and it’s hard to make any decent profits. There’s probably a lot more money in selling forex material vs. making money in the spot market. Are your odds better in the spot market or the NYSE? Playing poker almost seems more profitable than forex 😂
submitted by johansen89 to Forex [link] [comments]

How to make a profitable trade. Short on EUR/USD - profit £200. Copy of Live Forex Trading Session.

How to make a profitable trade. Short on EUUSD - profit £200. Copy of Live Forex Trading Session. submitted by Tin100 to Livetradingbroaadcast [link] [comments]

Random Question

Does anyone here make a living trading forex? Do you work for an institution or just on your own?
I'm just genuinely curious.
submitted by CecondPercon to Forex [link] [comments]

Does anyone here make a living from Forex trading?

I'm looking for ways to make money without a job, and one of the things that keeps coming up is Forex trading, haven't looked too much into it at the moment though.
Does anyone here make a living from it? Is it feasible?
submitted by d-s-m to antiwork [link] [comments]

Forex Trading Make a Living in 1 Hour a Day ( Live Trading)

Forex Trading Make a Living in 1 Hour a Day ( Live Trading) submitted by thomasbill to u/thomasbill [link] [comments]

traders and forex

It is no secret to anyone that 90% of investors who decide to enter the forex market end up failing. With such low success rates, why are there people who still try? The answer is that Forex is a great place to earn a lot of money and today there are people who make their living trading forex. Today, there are many who take advantage of their sporadic moments of success to pretend they are successful in Forex. These individuals try to deceive others with huge profits that they were able to obtain with luck, but that they can hardly maintain in the long term. On the other hand, the really profitable operators are those who can generate profits consistently over time. Although the large institutions and investment funds are those that handle a large part of the volume in the Forex market, there are people who, thanks to their incredible strategies, have left a mark. Perseverance is part of that power so great that some traders have to move forward, Fernando Martínez Gómez-Tejedor is not the exception, he has commented through an interview a few years ago that when he started he lost a lot of money, but it was his desire to recover the lost money which led him to anticipate all the schemes expected in the face of financial crises and stock market crashes. He currently owns virtual banks, companies as a trader, and is known in the world of finance and even as a collector of works of art and terraplanista.
submitted by luxergarden to u/luxergarden [link] [comments]

Anyone here who makes a decent living out of trading the FOREX market?

Just curious to know.
submitted by Jam-Tart to Forex [link] [comments]

Is it More Realistic to Make a Living Trading in the FOREX Market or the Traditional U.S. Stock Market? (xPost from r/investing)

I'm curious as to where I should start investing my time. I'm 22, I love to read, learn, study trends, make use of data, current events, you name it. I've started to make a living for myself with a company I helped start that manages Pay Per Click Advertising. I've networked myself into a great position, while still having very low living expenses, and I don’t even graduate from business school until this May.
The point is, I'm making a good living now and know I will be coming into quite a bit of extra income when I graduate, enough to establish some risk capital for me to start investing safety. I have been learning and reading immensely about the Foriegn Exchange (FOREX) market and obviously the US Stock exchange. I’ve been reading the Wall Street Journal the past 6 months and just basically want a deep, deeeeep understanding of what I am doing before I start making major decisions (None of those Oanda demo accounts) with my money. I was approached from an old friend who was trying to get me into that ImarketsLive "Global Visionariez" "Forex makes You Rich" bullshit which I have researched deeply and found to be bullshit. This turned me off from Forex trading, although I know it’s an incredible economy of scale.
I am trying to figure out, from some experienced folk, where I should continue putting my learning efforts? I want to continue learning and researching how to trade and find leverage for at least another 3-6 months before I make any moves. Which is a more realistic route to take? Which market has the best opportunity? I’m open for all interpretation so please share! Thank you.
-Jon
submitted by scatteR634 to Forex [link] [comments]

Interested in FOREX trading. Is it still possible to make a living? If so what kind of capital is required.

I've been poking around this forum for a while and I'm wondering if generally speaking its possible to make forex trading a full-time gig. If it is- what kind of capital would be required to give it a go.
submitted by marc44 to Forex [link] [comments]

[PDF] How to Day Trade Forex for a Living: A Beginner s Manual for Day Trading Currency - Proven Money-Making Strategies (How to Day Trade for a Living) By Bryan Lee

Download Here
submitted by bestebook to u/bestebook [link] [comments]

Is it More Realistic to Make a Living Trading in the FOREX Market or the Traditional U.S. Stock Market?

I'm curious as to where I should start investing my time. I'm 22, I love to read, learn, study trends, make use of data, current events, you name it. I've started to make a living for myself with a company I helped start that manages Pay Per Click Advertising. I've networked myself into a great position, while still having very low living expenses, and I don’t even graduate from business school until this May.
The point is, I'm making a good living now and know I will be coming into quite a bit of extra income when I graduate, enough to establish some risk capital for me to start investing safety.
I have been learning and reading immensely about the Foriegn Exchange (FOREX) market and obviously the US Stock exchange. I’ve been reading the Wall Street Journal the past 6 months and just basically want a deep, deeeeep understanding of what I am doing before I start making major decisions (None of those Oanda demo accounts) with my money. I was approached from an old friend who was trying to get me into that ImarketsLive "Global Visionariez" "Forex makes You Rich" bullshit which I have researched deeply and found to be bullshit. This turned me off from Forex trading, although I know it’s an incredible economy of scale.
I am trying to figure out, from some experienced folk, where I should continue putting my learning efforts? I want to continue learning and researching how to trade and find leverage for at least another 3-6 months before I make any moves. Which is a more realistic route to take? Which market has the best opportunity? I’m open for all interpretation so please share! Thank you.
-Jon
submitted by scatteR634 to investing [link] [comments]

Redditors who make a decent living from trading forex and so on, what would you recommend for a starter, which platforms do you use and why?

submitted by Notech01 to AskReddit [link] [comments]

The comedy how I lost all my money in two hours

I'm trading for 11 months with pretty good success.
I never traded metals and forex before, just stocks. Today when gold started to consolidate at the last hour, I decided to scalp short it with a large amount, so I opened 100 lots. I haven't realised, in forex 100 (lots) doesn't mean "100 pcs", because I used to stocks and I went full retard without knowledge.
Seconds later, I realised it means 10 million dollars (1 lot = 100.000, and I had 500x leverage).
It moved up a bit and immediately I was down £4000. I scared as fuck and rather than closing the position quickly I hoped maybe I could close break even.
The market closed, and I waited for the Asian session. The gold popped like never before, and I lost all my life savings (£55000) in less than two hours. (including the 1-hour break between sessions).
If I count that I lost all my earnings as well, I lost around £85000.
Here is the margin call
https://imgur.com/a/XY5m4ZA
https://imgur.com/a/VSgmCSs
https://imgur.com/pRWl5g9
IC Markets closed my position partially in every 1-2 minutes until I shut it myself at £35.
You know the rest of the story. I'm depressed, crying and shouting with myself.
Yes, I know I was stupid, thanks. I just wanted to share this with you.



Edit: WOW THANK YOU, GUYS! I haven't expected this, but you help me.
Many of you asked the same questions, I answer it here:
- I live in Europe, and we usually trade CFD's, not futures.
- Currency in GBP.
- As you can see, this account made on IC Markets. They not just allowing you a 500x leverage, it's the default.
- You can ask me why I went against the market. Because gold is way oversold? Because I expected institutions would sell their shares before gold is hitting £2000, leaving retails hanging there. Also, as I said, I wanted to scalp, not riding the gold all the way down. If I had a loss of £100, I would close the position immediately. But when I saw the £4000, my heart is stopped, and my brain just freezes.
- I went for a revenge trade with my last £2k, and I don't have to say what happened. I uninstalled the app, and I give up trading for a while.
- Again, in the past months, I was cautious, I lost a significant sum in March, but I managed to recover. Made consistent gains, always with SL. This is just an example of how easy is to fuck up everything you did.
- I didn't come here for some shiny digital medals. I can't tell about my losses to anyone who I know in real life. I would make a fool of myself.
- Anyone who attacking me that it is a scam. Well, think what you want. I feel terrible and the last thing is to answer all the messages saying "You fucking karma whore". I don't give a shit about karma.

submitted by fail0verflowf9 to wallstreetbets [link] [comments]

How many of you are actually making a profit?

And more importantly how much of a profit?
I think the question above is the most important. It would basically show if you could make a living out of day trading or do it as a side job/money making hobby or stop since the time spent isn't worth the profits.
A few questions from me, someone who spent a while doing several courses and learnt a few things about trading through forex. I make a profit on Forex and have a relatively green account history with a diversified portfolio, but since I am dealing with tiny lots the profit is negligible.
The market is mostly driven my emotion not by math or science. Past prices, trend, support and resistant lines do matter for sure and I say this from experience. But is the probability of them failing low enough for me to go in with bigger lots? Nope.
Throw in a few indicators and some fundamental analysis which makes things very confusing but doable after some practise and you only push that probability slightly lower.
Probability and statistics wins this game and no one can deny it. You may argue a 60/40 win rate is you essentially making money at the end of the day but those odds mean small lots and a hobby more than a job to me.
Charts look cool, the indicators cool, trading on a world stage very cool.
But will my daily profits get me more than a cup of coffee at Starbucks. Nah.
Thoughts from a newbie so hope you can prove me wrong.
submitted by themjcg7 to Daytrading [link] [comments]

Hands on or hands off

Hi all. I am in a very difficult psychologically situation. I have studied for 7 years to be a day trader. Stare at the charts all day, actively manage, bla bla bla. So here is my struggle.
Off the bat, my goal is to one day be a full time forex trader with no other source of income
Recently I started reading off levels. I go in for 10m per day (while on the crapper in the morning) set up 20-30 alerts on my phone, and then just enter blindly for 1.5 rr during the day. I get about 60% strike rate, more than enough to be popping champagne and living the life. I get about 3-4 setups per day. That is option 1.
Option 1 downside is eventually I get a short like gbpusd this Monday, where I got in for 4 pip stop and could have trailed it for 15RR!
Option 2 is active trading. Sitting at the desk, charting out, following news events, the works. Taking positions, trailing stops to lock profits, the stress that goes with it.
I should be happy with option 1 but it keeps feeling wrong. As if I am cheating. It cannot be this easy, can it? Furthermore, if I go full time to only trade 10 mins per say and make 2-3 R almost every day, what will I do the rest of the time? I am one of those guys raised with the "you have to work hard around the clock" mentality, and I know that does not apply to Forex and trading at all. Nevertheless, 10m per day just feels and sounds weird, and I can't shake the feeling I will get a slap in the face for it. But I backtested. I forward tested. I have been trading it in a micro account for 2 months and it checks out.
Reddit, what is your opinion. Option 1 laid back, or go back to the grinder and do option 2
Edit : correcting typo
View Poll
submitted by crypthon to Forex [link] [comments]

Housemate potentially involved in a Forex MLM/Ponzi scheme

I’m curious if anyone here has heard of or is familiar with the company KOT4X? I have a housemate who claims to have made over $10 million from this website in a few months which I find utterly ridiculous. This all began with him trying to get the rest of us signed up for his “company” which I overheard him tell someone else is KOT4X. I did some digging on them but all I’ve been able to uncover is that the “company” is sketchy as hell. It’s registered offshore (St Vincent and the Grenadines) and makes some pretty serious promises regarding how much money can be made. The catch, of course, is that it costs ≈$250 to create an account (and I would imagine there are further monthly fees associated with this). He has mentioned that there are several hundred videos that teach how to make significant money off of Forex trading, which leads me to suspect this specific website is some iteration of IMAcademy.
Needless to say, I didn’t take the bait or really remark on it but now I’m thinking I should have. This housemate has not yet paid his share of the rent for the month; he keeps saying that he has and it’s “processing” and that his low standard of living given his supposed wealth is due to the fact he is “humble.” Coupled with this, I am fairly certain this housemate stole about $120 from my wallet along with my AirPods from my room, which I would imagine he sold for cash. He of course denies this and it’s frankly impossible to prove without either catching him in the act or seeing him use the AirPods, which hasn’t happened yet.
If he doesn’t pay his rent within the next few days, I have all intentions of doing everything in my power to get him kicked off the lease and evicted from the house because I frankly don’t feel comfortable living here. I’m in the process of finding someone else to take my spot on the lease, but it’s not promising at the moment.
Really, I’m just looking for any help or advice anyone can give regarding this supposed “company” and what I can do to stave off what I imagine will be further acts of desperation to come. I’m happy to answer any questions anyone has about it to the best of my ability, but I really don’t know much more than what he has told us. Is it possible to report him specifically to the SEC or another agency for investigation? Ordinarily I’d be inclined to try and talk him out of it, but given the theft I’d just like to see him gone and never see him again.
submitted by hobbs_squad to antiMLM [link] [comments]

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