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

[oldtime]

Quote from sheda:

Should I go into sales now that I gave up??

nothing happens in the world until somebody can sell it. That's why salesman are the highest paid professionals. More highly paid than doctors or lawyers.

when you go in for psychiatric counselling, they ask you how you feel about money

If you feel about it like I do, they tell you, "You would probably be better off as a trader than a salesman."

 

[Lucrum]

Quote from marketsurfer:

I like both professions....

I'm sure you do. But liking something doesn't make you good at. You're a salesman PERIOD. Stick to what you know.

And yes I'm still flying.

 

[JB3]

FX is just like any other market. There are a few traders that are successful, and a lot of them that are not. I'm sure the statistics are similar no matter which market you are trading.

If they are successful, the leverage in FX is so high, there really is no need to trade OPM. I have only seen 1 person in retail FX that have consistently large returns. He actually "retired" from his day job to trade because his trading was making mutliples of his salary. So I know they do exist out there.

For me, a full time trader is someone who can make more money trading than what they could make at a full time job. So for each individual, the standard is relative. Trading is just another form of a job.

 

[oldtime]

Quote from JB3:

FX is just like any other market. There are a few traders that are successful, and a lot of them that are not. I'm sure the statistics are similar no matter which market you are trading.

If they are successful, the leverage in FX is so high, there really is no need to trade OPM. I have only seen 1 person in retail FX that have consistently large returns. He actually "retired" from his day job to trade because his trading was making mutliples of his salary. So I know they do exist out there.

who is that "one person" that you mysteriously know? What is their annual return? How long have they been trading? How long have you known this one mysterious person?

only one? huh, he must be pretty special

and you are also special, because you know him

that is why I like ET, you can meet a lot of "special" people

 

[JB3]

^ I know this guy all of my life. I see him in the mirror everyday!




LOL. Just kidding.

Well, we are not friends, I just saw his verified live account statement so I know it is the real deal. And his profit was at least mid-6 figures last year, and he retired from a 6-figure salary management job. He is in his 50's. His trading is fairly special because he trades with only the chart. He cuts his losers short, and when he has a winner, he just piles in and that is when these oversized returns are achieved. And he does this over and over again.

 

[koolaid]

Quote from JB3:

^ I know this guy all of my life. I see him in the mirror everyday!




LOL. Just kidding.

Well, we are not friends, I just saw his verified live account statement so I know it is the real deal. And his profit was at least mid-6 figures last year, and he retired from a 6-figure salary management job. He is in his 50's. His trading is fairly special because he trades with only the chart. He cuts his losers short, and when he has a winner, he just piles in and that is when these oversized returns are achieved. And he does this over and over again.

You mean he buys low and sells high?

 

[marketsurfer]

Anyone wanna bet this thread has been jacked by FX dealers and others with a vested interest in you trading FX? You folks are a trip!

 

[oldtime]

Quote from JB3:

^ I know this guy all of my life. I see him in the mirror everyday!




LOL. Just kidding.

Well, we are not friends, I just saw his verified live account statement so I know it is the real deal. And his profit was at least mid-6 figures last year, and he retired from a 6-figure salary management job. He is in his 50's. His trading is fairly special because he trades with only the chart. He cuts his losers short, and when he has a winner, he just piles in and that is when these oversized returns are achieved. And he does this over and over again.

my mother makes six figures every year, and all she does is buy T Bills

Like Groucho said when they told him "You can't make any money buying T bills"

"You can if you have enough of them"

6 figures? Man, you must be very "special"

 

[trade_canada]

I agree at retail FX trading puts traders at a disadvantage because you are trading with your broker, they want to make money and you want to make money, but they definitely have the information and technology edge over any retail FX trader, things go as normal when they think they are at an advantage, but as soon as you are at an advantage they can mess with the spread/data/fills. I trade FX futures through a reputable clearing firm, so presumably I am trading with an anonymous counter party directly through the exchange. Another big advantage futures have over spot/retail is somewhat more reliable volume data (VWAP plays a big role in my strategy).

Any market can have opportunity as long as there is volatility.

 

[macattack]

Quote from Xspurt:

I trained a rookie to trade FX and he's killing it. Fx is a fantastic market but once you can trade you should be able to trade any market, so why think of FX as different?

If I put up 2 charts and one is Fx and one is a stock, can anyone who says Fx is so different tell which is which?

Strange question from the OP, but then ET is a strange place.

How can a rookie be killing it after a short period of training? Even if you give a rookie the very best of the best signals to trade, even those that nobody else has ever noticed, even with the best risk/reward anyone has ever seen, the rookie will still lose.

It seems this is more a mental/emotional/brain game than anything else. Did you train your rookie psychologically, or was he one of the rare individuals who happened to have the psychological part mastered beforehand?