Forex trading as a career? - Page 6
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  1. #51
    Join Date
    Mar 2012
    Posts
    2
    Whoaa, its a great learning experience reading all the posts and the insights of these sensibly smart people offered here.. by understanding the POVs and weigh each thought shared here.....is making me better and better...by the time..

  2. #52
    Join Date
    Dec 2012
    Posts
    260
    I must say it will be a stressful career.

  3. #53
    Join Date
    Apr 2013
    Location
    San Diego USA
    Posts
    25
    Long shot for anyone - I'm sure you know the stats, 90%+ fail...

    If you are are just starting out, make that closer to 99.99999% chance you will fail. trading takes thousands of hours of screen time along with analysis to gain an edge.

    Forex is a good way to start though because it will give you an opportunity to get your feet wet with a relatively small capital outlay. Unfortunately, I trade futures but if I was new to the game, i would start with FX.

    Best advice I can give (IMHO) paper trade for a bit and backtest to see if your strategies have potential. If you feel comfortable, go live only with $$ you are ready to lose... think of it as an education and everyone must pay their tuition

    No Idea in your country, just google brokers and their reviews. Elite Trader or Trade 2 Win are a couple of good sources of info.

    Best of luck to you!

  4. #54
    Join Date
    Apr 2012
    Posts
    1,000
    Quote Originally Posted by ronerown View Post
    Long shot for anyone - I'm sure you know the stats, 90%+ fail...

    If you are are just starting out, make that closer to 99.99999% chance you will fail. trading takes thousands of hours of screen time along with analysis to gain an edge.

    Forex is a good way to start though because it will give you an opportunity to get your feet wet with a relatively small capital outlay. Unfortunately, I trade futures but if I was new to the game, i would start with FX.

    Best advice I can give (IMHO) paper trade for a bit and backtest to see if your strategies have potential. If you feel comfortable, go live only with $$ you are ready to lose... think of it as an education and everyone must pay their tuition

    No Idea in your country, just google brokers and their reviews. Elite Trader or Trade 2 Win are a couple of good sources of info.

    Best of luck to you!
    Word for word! And if Newbies don't know what "paper trading " means , it's just another (older) term for trading on a demo acct.
    Btw buddy, why did you switch to futures..Was it to avoid market makers or something else..

  5. #55
    That is my goal, to support myself and my family through forex trading. Now though, forex helps a bit but not that impactful... still a long ways to go for me.

  6. #56
    Join Date
    May 2013
    Posts
    21
    Quote Originally Posted by edwardjennings View Post
    That is my goal, to support myself and my family through forex trading. Now though, forex helps a bit but not that impactful... still a long ways to go for me.

    And as long as you stick with it and are willing to work hard, you'll get there! It's a long but very rewarding road.


    SerenityFX

  7. #57
    Join Date
    May 2013
    Posts
    23
    Quote Originally Posted by geline View Post
    Are there anyone of you here who have thought of quitting your job
    just to be free to trade forex or do other online trading?

    I am considering of doing this but I would like to know from you first
    and your advice.

    Thanks.
    it all depends on what you get at the end of the day and you schedule. if you know you can live off the profit you make in forex why not. but this days one is not content with what we have at the moment, we always need more. so making forex your full time job is a choice you have to make. what to do with your spare time. it will be nice to have something doing.

  8. #58
    Join Date
    May 2013
    Posts
    362
    Yes, i have considered to quit my day job and continue the forex trading business for full time to make good amount of money and work at the time i wish so that there is nobody to boss me.

  9. #59
    Join Date
    Apr 2012
    Posts
    1,000
    It is very unlikely that one can successfully trade FX and have a full time job too. Not unless your full time job is with a brokerage firm or maybe an office in a bank where your supervisor won't mind you having the charts and news opened non stop. Be free to add other possible scenarios that I can't think of right now, lol.

  10. #60
    Forex is difficult to achieve consistent profit. One will in danger position if the respective month is a losing month & he or she don't have other income. Cash flow will be in trouble. Forex better to be part time.

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