Is anyone here earning a living, just with forex trading?

hi all…

I mean, average Joe just like me, who put aside some money and start trading, can we earn a living from trading forex?

Not the big institutes and rich one who have billions in their capital

Is just that after a year and 3 months learning, and demo on forex, i started to doubt i can make any money from it.

I have several demo account, the best one have some earning from the initial deposit, but what confusing to me is..

– if i follow any system, i will lose money
– if i i follow any sets of indicators, i will lose money
– if i follow the news, i will lose money
– if i developed my own system and follow it, i will lose money
– backtest always looks pretty, but in live test i always lose money
– money is loose by sl being hit over and over, different SL placement strategy wont help

countless system i have tested, combining news and indicators, price action, chart pattern, some system which fills the screen with indicators, naked system with no indicators, you name it. No matter when i use any system, i will loose countless of times, (but backtest always show pretty result)

however i made some pips.. by..
randomly putting trades, not setting SL , use small lots..

So i now totally confused, how does average Joe like me going to earn money from forex..

hang in there budy!!

this is the pivotal point that makes or breaks a trader. Everyone has to come to this point in there trading adventures and it is those who keep going that succeed and it is those who give up that end up being the majority of 95% or whatever the statistic is of losers.

so just hang in there and keep pushing,, in my opinion it will not come down to just one system or indicator,, but it will come down to just experience of how you see the market and experience of past situations that you had, and how you will react to it. and the systems and indicators will be great tools for you.. (hey this is just my opinion, i am not experienced trader, i have only 2 years, so please do not take this as advice)

I have heard of traders on other forums talk about how taking a break will help them also….

does this go against what I say by never giving up? NO, it means if you get really frustrated and confused, then it MIGHT be a good decision to walk away for as long as you need to knowing that you will come back….. The market will always be here….

but here’s the deal:
1) I have never taken a break from forex (2years) so I can’t say if it will or will not help you.

2) when I was in the position of questioning,,,, asking the same questions as you are…….”what if it is really not possible to make a living from forex?” and that type of thinking…. I was ready to give up. But I know in the back of my mind that I can not give up because I have spent over 1 year already… So I just keep going,,, being very broke……… there was actually times that I felt like throwing my computer screen and being very mad, lol, so It is possible that taking a break would have been good for me at that time, on the other hand, the fact that I kept going (demoing, trying new systems, ect…) eventually lead to experience under my belt that is now usefull in my trading now.

so it comes down to you personally,,, either keep going or take a break,,, one of the two,, BUT NEVER GIVE UP

I am only on my first month where I have made money good enough to live from,,, first time in 2 years,, there have been 3 other months that I have made money at trading but it was not consistent so I do not count that,, but this is the first month I did good enough for living, and the only thing I can say that matters the most is waited patiently for the right trade and only traded when I was felt confident and refrained from placing a trade that I was unsure about. and that only comes with experience of being glued to chart… (remember folks this is just my opinion and my personal trading experience,, please do not take this as advice since I have only one months profit and am not expert)

~Tim

You are only a year at it. Expect 3 to 10 more years until you can be consistently profitable. And some people never make it even after that amount of time.

Just to shoot you off in the right direction: the work you did the last year on trading is nothing compared to the work which it takes to become profitable. You gotta do an insane amount of studying. Reading books about everything concerning the market, do statistical analyses and understanding the forces driving the markets.

It’s also depend on the money management, risk management practices and proper mental approach. It’s not about what an excellent system or stratigy you have.

let’s say there are 2 traders using the same system, one of them make good profit and the other one don’t. Why?

Some traders trying to revenge of the market because they loos, so they will try to take short position with full margin or take long position with 90%…

So my point is we can not make any succeed without having good system, money management, proper mental approach.

Thank you

 I think, different people have different learning stage, for me might be a longer one.. and people around me all trading stocks, i not exposed to anyone trading forex in real life that makes me wonder if really can earn a living from it…

yeah I do read a lot since the beginning stage… for the books i cant afford i even sit and finish it at the book store… at a point all the books sounds the same to me…. there are no holy grail, money management and risk management are important, entries and exit only play small role, discipline are very important, etc etc

This brings another confusion to me.. since everyone talking about the strange thing.. is it the minority that not doing what the majority are doing are the earning ones… that earn from the market while majority are loosing

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