Is it possible to earn on a life working on forex
- Thread starter jesse2008
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Quote from cvds16:
I have to see a first major blowup at an opportune time
to answer the OP's question: I do hope so, I am going fulltime in a month and a half. I could be living allready of what I make now trading 4 hours in the evening (CET).
Hi !!!
Can you be more specific... I mean more details...
Yes, there is added leverage when compared with a traditional futures account, but you can also trade 1/100th of the size... So there is really no argument there I can see. You can trade a micro account for .01/pip.
FX moving "slowly" shouldn't really factor and as far as i'm concerned isn't really valid... Trade a 1 minute chart in FX and believe me it will keep you on your feet.
Also the moves are proportionately MUCH larger than on an e-mini/equity 9x's out of 10. And there isn't the constant backfill you get in the ES. If its gonna go she will run for big profits.
I've traded the ES/NQ for two years and now i just trade the FX markets fulltime and couldn't be happier...
So to answer the OP... Yes you can...
Quote from jesse2008:
Hi everybody!!!
Is it possible to earn on a life working on forex. Please answer impartial and without advertising
Thank you
Yes, you can make a living trading forex but there's no guarantee, just keep a journal and do all the necessary things like MM, discipline... and see if you can make it a reality.
Yes, it is possible. Everything is possible in a Pareto distribution function.
Possible?Quote from jesse2008:
Hi everybody!!!
Is it possible to earn on a life working on forex. Please answer impartial and without advertising
Thank you
Yes.
Likely?
No
For one thing forex brokers "help" you lose money, google about bucketing; and you'll know what I'm talking about.
They also charge interest for overnight trades (the way real pros invest).
The way to go are CME FX Futures. Period. Please don't dispute this. The OP asked for unbiased replies.
Second, currencies are highly cyclical.
If you buy and hold a stock index long enough, for, say, 10 years, you can be pretty sure you'll make a profit.
Not so with currencies, you may decide to go long or short on a given currency. You wait the same 10 years, where it will go?
Not easy to forecast, not even for Warren Buffett. Many economic and political events may happen during 10 years.
Take this very moment, for example.
The dollar where will it go in the intermediate/long run?
For one thing the Fed will keep printing money, but the banks (who lend about $4.70 per dollar in deposits, thus also "printing money") are becoming more selective thus lending less.
European zone will go into a deep recession, the US will not, thus the euro is perceived as a less attractive currency.
Currencies are zero-sum games - one investor's losses are other investor's profits.
Hehe, scalping currencies on job-market numbers is probably the most intense thing you could try to handle... You need reaction time as fast as any drag-racer or F1-driver - really, no kidding.
First and foremost it's all about handling risk and the money management. Sure, there are many parallels to gambling.
Currency futures are great and mostly tight spreads.
Hehe, scalping currencies on job-market numbers is probably the most intense thing you could try to handle... You need reaction time as fast as any drag-racer or F1-driver - really, no kidding.
First and foremost it's all about handling risk and the money management. Sure, there are many parallels to gambling.
Currency futures are great and mostly tight spreads.
Not so, forex is not zero sum
I don't think so, I'm not that fast but I seem to do ok trading (scalping) through NFP, here's the last one, and here's one from April, and another one from May
That I agree with 100%