Are you making a living trading FOREX?

themickey said:
I imagine for profitable traders it would need to be very short term holds, like intraday stuff.
Would that be correct?
More...
speaking only for myself, yes that's true forex is too volatile to "invest" like other financial products and textbook way of trading doesnot work in forex that's why vast majority fail. can you make a living yes but you have to know your product and how it moves. stocks are easy because its got positive expectancy and overtime it is bound to go up, a solid company that is. forex is different its a trading product most try to fit a square peg into a round hole never works why most fail
 
tradertrader said:
speaking only for myself, yes that's true forex is too volatile to "invest" like other financial products and textbook way of trading doesnot work in forex that's why vast majority fail. can you make a living yes but you have to know your product and how it moves. stocks are easy because its got positive expectancy and overtime it is bound to go up, a solid company that is. forex is different its a trading product most try to fit a square peg into a round hole never works why most fail
More...

Count the number of believable claims in this thread of people trading FOREX for a living:

A lot?
A few?
None?

And ET is a large forum.

Do you know any mom and pop tradrers making a living trading FOREX?
 
believable or not it does not matter to me
mom and pop trader making a living trading forex-- none
part timer making a living trading forex -- none
full timers making a living trading forex -- very few
every currency pair acts differently
currency acts differently in different trading session (Tokyo / London /New York)
it acts differently within that session depending on the time
so you try to trade according to textbook and find that the product acts differently from 5pm and at 8am. that's why most fail because they think and trade the same way all the time
again it does not matter if you believe or not, it matters not to me
peace
 
Wolfe_tr said:
Not a living though, but it does give me considerable amount of earnings if I follow the right kind of strategy and remain focused on the markets.
More...
That's what I have heard from most people.
Certainly there's so much to learn in forex to be able to make it a full time thing.
 
Wolfe_tr said:
Not a living though, but it does give me considerable amount of earnings if I follow the right kind of strategy and remain focused on the markets.
More...

You also need a meaningful edge.

I am skeptical of your claim. Considerable earnings leads to making a living.

Why do you think you can beat FOREX-- the right strategy,
 
Ahmed Solaiman said:
the result from any trading strategy is completely depends on your money management. so build your money management and earn more money.
More...

"The result from any trading strategy completely depends on your money management"... is wrong and is harmful thinking.

A meaningful advantage (positive expectaton) on one's bets is needed.

Without this, no money management method figures to produce a positive result in the long run..

The key factors to winning at trading and gambling:

Expectation
Variance
Volume
-------------------------------

Know your edge, exploit your edge--- survive the game.

-Blair Hull
___________________

The big problem most traders have is they have a disadvantage (negative expectation) on their bets. More precisely, they have a disadvantage on the sum total of the money they put in action.

But yes.... poor money management, mostly over betting, can break a person who has an edge on their bets.

And yes... poor trade/ bet sizing can cause other problems as well.

The big winning trading firms, like Renaissance Technologies, devote serious and continued thought to looking for meaningfull edges.

For a cautionary tale involving over betting (poor money management) look at Long Term Capital.
 
Last edited:
You must log in or register to reply here.
Back
Top