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

Quote from cornix:

Already mentioned here Dukascopy has average Euro spread of 0.4 and has moderate requirements.
More...
Don't take US clients unless have a networth of $10M USD.

IB is that tight aye? Interesting.
 
Quote from nitro:

Don't take US clients unless have a networth of $10M USD.

IB is that tight aye? Interesting.
More...

It's often a pick-em situation. I don't understand the interest in shady offshore firms when IB offers the best terms going. The only issue is that you will only receive 25x on minors. The majors are 50x, but they derive the crosses synthetically.
 
Quote from atticus:

It's often a pick-em situation. I don't understand the interest in shady offshore firms when IB offers the best terms going. The only issue is that you will only receive 25x on minors. The majors are 50x, but they derive the crosses synthetically.
More...

There's a reason those firms are headquartered in Cyprus or Belize and its not because they play fair. surf
 
Quote from oldtime:

? you call that a trading plan? I'm just going to trade it until it is all gone?

Sounds like my illegal online baseball betting account.

Every spring I add money, and just bet the under on NL night games during the week.

and I just do that until it is all gone

that's my plan

I have no loss prevention plan, and virtually no plan for taking profits, it's just a hobby

forex on the other hand I take a little bit more seriously
More...

Look buddy, up to this point you have been decent with me, so I really don't want to get nasty, but ....

In 2013 you've done nothing but lose. In fact, last I heard your draw down is over 30%. Isn't that right. I, on the other hand, with two accounts with FXCM and Questrade., have pulled aproximately 2500 pips out of my little accounts in 2013. I have recovered all losses ever suffered in my trading "career". I am now profitable overall. I have no losing trades in 2013.

See partial proof here:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=263567&perpage=6&pagenumber=42

I suggest you put things in perspective and think a little. My plan is a little more developed than you might think.

1. Sizing: 1 mini lot - 1$/pip for every $1000 in the trading account.

2. Profits: Amounts over 100 pips are transfered out and into my margin ( stock trading ) account where I invest for the longer term.

3. Stop: Sizing allows the trade to go against me by about 600 pips per $1000, given that the margin requirement is about $390 for each mini lot.

4. Account is refunded if need be from employment income. I will never withdraw from long term saving to finance trading.

Should I explain my exit and entry criteria to you as well?
 
Quote from SimpleTrades:



4. Account is refunded if need be from employment income. I will never withdraw from long term saving to finance trading.

Should I explain my exit and entry criteria to you as well?
More...
so, in order for you to be a fulltime forex trader, you need to be employed?
 
Quote from oldtime:

so, in order for you to be a fulltime forex trader, you need to be employed?
More...

In case you haven't noticed this thread has heard arguments from both those for and against trading forex full-time. I am in the camp that believes it isn't a very good idea.

You've told me your situation: Rent: $500/month etc. Your circumstances suggest to me that making trading a full-time career at this stage might be a mistake. You also mentioned that the reason why you have a significant account to trade is essentially due to a fit of rage when you realized you were going to have to part with half your savings and give it to your ex-wife. Now you're suffering a draw-down of more than 30% of what's left???

Sorry Oldtime, something just doesn't add up with you. Atticus nailed me very correctly with my trading/working approach last year. I now work full-time and trade part-time. I think this is how we should all behave until we have a significant amount of savings to fall back on. This eliminates almost everyone on ET, I guarentee it.
 
Quote from SimpleTrades:

In case you haven't noticed this thread has heard arguments from both those for and against trading forex full-time. I am in the camp that believes it isn't a very good idea.

You've told me your situation: Rent: $500/month etc. Your circumstances suggest to me that making trading a full-time career at this stage might be a mistake. You also mentioned that the reason why you have a significant account to trade is essentially due to a fit of rage when you realized you were going to have to part with half your saving and give it to your ex-wife. Now you're suffering a draw-down of more than 30% of what's left???

Sorry Oldtime, something just doesn't add up with you. Atticus nailed me very correctly with my trading/working approach last year. I now work full-time and trade part-time.
More...
there's a lot that doesn't add up with me, the most recent was my decision to start selling bonds at 126

oh well

now I just bought them all back at all time new highs

oh well

I'm old and need to be 50/50 at this time in my life

depends on how you define drawdown, I'm severe and define it from the old high

but if you are kind, up 60 in 2012, down 30 in 2013 with still plenty of time left

it aint that bad
 
Quote from oldtime:

but if you are kind, up 60 in 2012, down 30 in 2013 with still plenty of time left

it aint that bad
More...

so i am not the only one down in '13 :cool:

only scratches for me this year.
 
You must log in or register to reply here.
Back
Top