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Can I make a living trading forex?

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  • Can I make a living trading forex?


  • #2
    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:
      • 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.

    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.


    • #3
      This depends on how much you're risking per trade. If you risk $1000, then you can make an average of $20,000 per year. If you risk $3000, then you can make an average of $60,000 per year. If you risk $5000, then you can make an average of $100,000 per year.


      • #4
        risk is everywhere in this stock market, Managing the risk is the most demand able ability in Forex market My trading career, many times I fallen a great loss due to lack of exact risk management . now I am studying about this.


        • #5
          Yes, For me, trading in forex is really worthy. A lot of people in this world earn a lot of money by trading in forex market everyday. if you want to make the forex trading worthy you need to trade by following all the rules and techniques. There are also a lot of people who can not make this suitable for them because of low knowledge. If you have enough knowledge about forex, you can make a lot of money. I always trade with Tpglobalfx. It always helps me to make profit. I love their strategy and techniques.


          • #6
            Forex trading is the most famous and profitable business in the world. Anyone can start trading and earn huge profits if they have proper knowledge about forex. Forex and risk are connected with each other. There's a risk that doesn't mean you can't start trading. You have to learn from that risk. I trade with Eurotrader. They are a very reliable broker. They never make disappointment to their client. They are very supportive and helpful. I would easily suggest this broker if anyone looking for a reliable one.


            • #7
              Yes, of course, you can trade peacefully. If you trade with emotions, trading will be a very difficult thing for you. Because if you want to trade peacefully, you must give up emotions. And you have to manage discipline and trade all the time. After closing a trade, you have to be happy with whatever the result is and meditate all the time. There must be a loss in trading, you have to manage this loss and move forward.


              • #8
                treat it like a business and you'll be fine


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