Do full-time forex traders exist or is it just make believe?

RCG Trader · May 3, 2013

Quote from marketsurfer:

I agree with you here. Only ones who want you to keep more in the account are the brokers. surf

The trouble I have with that idea is that a broker will not allow a 100% loss on the account.

A 50% loss will trigger a margin liquidation. So if he is trading with 1000 dollars, his actual trading power is only 500.

SimpleTrades · May 3, 2013

Quote from RCG Trader:

The trouble I have with that idea is that a broker will not allow a 100% loss on the account.

A 50% loss will trigger a margin liquidation. So if he is trading with 1000 dollars, his actual trading power is only 500.

About 600 pips on one mini lot, actually. Margin requirement is about $390.

OccupyThis · May 3, 2013

Quote from oldtime:

well first of all, since I average down, I don't end up with a full load unless I am really wrong

and once I have a full load on I have no choice but to scale out with stops

and it's a real bitch when one gets hit because that is money that is gone, poof, vanished

taking a profit is a different matter

I don't like to talk about it

It is a kind of a sacred moment

But when it's been a while it is not uncommon to have a pre mature ejaculation

I trade in a similar fashion- first decide what my 'full load' is and the max pip loss I will take with that. From there that full load is divided down into as many times as possible. From there you start trading, full of ammo.

OccupyThis · May 3, 2013

Another 20+ pips. Damn, Im good.

cornix · May 3, 2013

Quote from Daring:

And what to do with the excess cash ?

Whole new problem arises when you consider that.

Depends on one's personal preferences. From longer-term investment in stocks maybe using some highly reliable account with someone like IB to real-estate or some business venture to savings account.

cornix · May 3, 2013

Quote from RCG Trader:

Cornix. PM me your website. I want to have a look.

Not too much to look there as I don't have plans of making money off that. Rather just bits of stuff and rants when I'm in the mood.

oldtime · May 3, 2013

Quote from Daring:

And what to do with the excess cash ?

Whole new problem arises when you consider that.

apples and oranges, people are using the same words to talk about totally different things

excess cash? Like the cash you will need at a moments notice if you get a margin call?

or excess cash, like the cash you no longer want to commit to trading?

the bucket shop trader opens an account and says, "I will trade it until it is all gone."

I'm a little more serious than that.

nitro · May 3, 2013

Quote from cornix:

Some ECN's with retail access already have average EURUSD spread like 0.4 pips.

Yes, but they require large sums of money I believe. Which ones are you thinking?

SimpleTrades · May 3, 2013

Quote from oldtime:

the bucket shop trader opens an account and says, "I will trade it until it is all gone."

I'm a little more serious than that.

Oh Blah!

No you just keep averaging down and throwing away your money!

I leave as much money in my trading account as I need to trade the trades I want to trade. Everything else is in longer term investments.

zbojnik · May 3, 2013

Quote from maul3d:

Getting back to the question,

I trade full-time for 2 years now.. study for 5 years

average week for me for this year..

bucketshop metatrader 4 broker, using price action chart trading.

Nice! Good motivation for people to not give up. I think the question has been answered several times - yes, there are real full-time retail fx traders!

I asked the question because in the Trader P/L threads you never see a FX blotter... :-)