Thread: Is trading FX for living a myth?

Living in different area of the world means different income amounts. Some states $500/mo are a living... So who knows what could it take to earn $500? While for me that isn't a living, but it could make a large difference.

Originally Posted by ;

quote Yep, was staged. Plogy is huge, concur alphac. It could be argued that it is all, because all choices, reactions and approaches exist in your mind. Everyone is able to draw a trendline, so why not they make money? My eyes were opened when I assessed my egy and spent more time in my attention and mindset. Before that I did not stand a chance because I had beaten myself. Without assurance or you will wind up making ridiculous errors. You have to stay positive or this won't work. You can only become convinced in case you...

Dr Octagon, great comment. Thank you for your time...

Many men and women get rid of money trading. There's no holy grail to trading (there is no magic formula to guarantee winning transactions.) It comes down to cash management. Alloe a small portion of cash per transaction. Reward should be approximately 2 times your risk. If you are able to win 50 percent of the time, you will earn money. (take 10 transactions, risk 50 pips to make 100 pips. Lose on 5, you shed 250 pips. About the 5 winning transactions, you make 500 pips. You come out a winner)

Originally Posted by ;

I believe that your question makes sense and I adored the dichotomy of your question and your own username But if you allow me, I would like to discuss my view here, of course, this question is my thoughts for quite a while. I my opinion, forex could be traded for dwelling if it's traded as a organization. Any business. And today it's a lot easier for me to know this concept better, since I started a real business with my sister, creating fitness clothing. In a real business your profits a pretty predictable as your gross margin. You are aware of how much your...

Well composed! I like it.

There are people who do transaction Forex for a living, but I still don't think that's the majority of the traders out there. If the statistic that 95% of traders eliminate money is correct, that would mean that just 5% profit. How a lot of the 5% profit regularly sufficient to live off those profits?

Indeed most traders get a loss, since the reduction was undoubtedly in FX trading, together with optimal and more able to handle its risks well

Originally Posted by ;

There are people who do trade Forex for a living, but I still do not think that's the majority of the traders on the market. In case the statistic that 95% of traders get rid of money is true, that would indie that only 5% profit. Just how a lot of those 5 percent profit regularly enough to live off those profits?

Personally I believe those numbers are unworthy to assess ones opportunities of investing for a living. I also believe those numbers are extremely hard to make - there isn't any central database of traders and their outcomes, furthermore traders select their own brokers independent of nation boundaries (unless you are locked in the US of course), these facets make is almost impossible to achieve a correct analyzes.
Oh, btw: 5 percent is quite a lot. You just need to be the best from 20. Look on an average street or tune in to them at the bars, I do not believe myself arrogant but I found that to be comparatively easy It's also not that much from restaurant survival rates (I'd presume) ...

Anyway ... not many could attain this objective. Not because it's so darn complied though. They won't reach it as their mindset isn't right. The thread starter appears to believe knowing every indior is a step in the right direction - one very good example of a common misunderstanding about trading. People who believe they will need to find that holy grail, that concealed secret are destined to fail. It takes work, finding a method to extract pips which function for you and you then choose an acceptable risk management and position sizing. Ones you have something which works most of the time you can (and should) fix it here and there. It isn't like being a professional with a rule book along with the mathematics to follow along with you might still construct unusable or awful crap but it won't collapse at

I was able to run my own small business. I'd employees, a company partner, revenue partners and all that stuff that goes to conducting your own organization. I did this for at least ten decades. Superior years, bad years. Largely good though. Steered my company through the 2008 fiscal astrophe. Sold it in 2015. Considering all of the obstacles I came across along with the practical impossibility of controlling or calling them I came to the conclusion that trading is a lot simpler (for me personally) and has a far better level of control. Still, if you need a guaranteed income (perhaps not only to survive but also to maintain an acceptable mood!) You better move to a nation with a solid social system and look for a so called actual occupation. Trading and operating a company has a lot of things in common and are certainly not for everyone.

Oh, btw: I do not give a shit about risk:reward. Just another attempt to make pseudo mathematical rules for those that need some fallacy of certainty (IMHO). I select trades which have a high probability of going in my direction but I do not compute the relation of my expected TP for my SL. If I exchange an epidemic for example, I do not even have some expected TP - it's an epidemic, it is supposed to come without a good-till-price tag attached. The chart tells me to depart.

For Me Indonesia, you need to begin with well capital at least 10,000 (ten thousands) to make an adequate living, and You make only 10% a month. You risk 1% a day that would be $100, with 0.1 lot divided into two trades daily, You'd have adequate stop loss 50 pips per trade. Should U make 20 percent a month, you'll have a fantastic living. Here people with income over $3000 per month is going to be called wealthy people (from 260 countless people).

Originally Posted by ;

For Me Indonesia, You have to get started with nicely funding at least 10,000 (ten thousands) to make a decent living, and you earn just 10% a month. You risk 1% a day that would be 100, with 0.1 lot divided to two trades a day, You'd have sufficient stop reduction 50 pips per trade. If U make 20 percent a month, you'll have a fantastic living. Here individuals with earnings over $3000 per month is going to be called rich people (from 260 millions people).

I've come across with Indonesian traders a few mainly are small traders with capital range $50 to $200. Indonesian Rupiah depreciated against $ exactly what I seen in currency converter available online. Can you focus picture of forex trading market there? I seen small brokers like AGEA, FBS has huge popularity there in Indonesia and many of traders has very small capital. How is living cost there , price of essential commodities such as egg(chiken),beef,rice,wheat,vegetables in dollar or Rupiah? I tried to PM you but mesage button not offered. Can you share with me either here or by PM?
Asking just to comprehend how forex income can boost their part financing demands.

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I am new to FX, but I have traded shares for few years. I believe I know the majority of those TA indiors and some risk management, but I cannot have a decent result in demo FX account. Is trading FX for living a fantasy? (I mean trading for living like having a project; I don't mean trading for wealthy.) Can anyone give me some insight? Thank you Beforehand. ________________________ Living needs religion!

No.