Forex trading as a career?

How can you possibly presume to quote generic monetary return figures? The income from currency trading is influenced by a number of factors including account size and percentage risked. The alternative-to-Forex 300,000 income (without even a currency quoted!) is equally arbitrary.

The circumstances surrounding going full time are entirely personal to the individual in question, personally of course I would not advise going full time until one is content that one has a profitable, consistent approach - but to put an earning cap on Forex suggests to me that you aren’t doing it right…

US dollar, currency quoted now. The thread is about forex as a career and that’s exactly what I commented on. Account size doesn’t matter, we are talking about making a living out of forex so whatever account size makes that work for you, then that’s the account size. Your second paragraph just explained what I said in my first paragraph of my previous post. Plus I did not put an earning cap. I just stated some numbers that may be likely - simply giving an expectation about profits. Around these numbers the risk becomes so large that if forex is your only source of income and you don’t have 300k+ to blow, you won’t be making anything higher than that. Don’t forget the bills!!!

I was an financial specialist for a multinartional woodlands organization and made the decision to get a regular currency investor. My recomendation is that you have be sure you can generate the cash enough from this action, it’s completely possible but it’s better to have used the period of your energy and energy enough with a trial consideration.

I made the mistake of quiting my job hoping that my trading would be profitable. Only to realise that when the need of earning money built up my trading went down horibly. My mistake costed me dearly and I don’t want anyone to make the same mistake.

My advice is to make sure that you have plenty of reserve cash and a proven profitable strategy before quiting your job.

I’m back to the workforce now and start building up my account for some part-time trading and only want to trade part-time to eliminate the potential pressure of [B]“be profitable or starve”[/B].

you have made a terrific decision.

yes the pressure can be so profoundly immense. Good job and good advice

I quit from my job several years ago, and still I don’t have any regret with that decision. I started trading with in 20 days, then realized if I want to trade for long (as a career) then I need good forex education and training. I learned hard from market movement and used to with its trends, analysis, indicators and build passion with interpersonal skills. Now I’ve 8 years of professional trading experience and I advised you to choose good broker/firm and practice on their demo to get used to with it.

well i think forex provides a very good opportunity to make a career out of it , as it dosnt requires much capital and a degree to start it , it just need some knowledge and a little practice and then you can have your own business

That applies to every field I believe

Agreed - I pay for my charting, but even that is available elswhere for free elsewhere and as my largest single overhead it is still under £100 pcm. Obviously I need a computer and internet connection but I would have those anyway. I can’t think of many businesses that offer this flexibility, these low overheads and this income potential with.

different question:
-is there anyone here that knows any master degree that focuses on currency trade -forex- ?
-probably a master in finance yes, but one in particular that focuses more on currency trade above th other subjects?
thanks a lot

hi…i am doing the same…i have a bit of capital and planning to start on my own…looking for a trading partner…anyone interested?

Hi I am also trying the same. As of now I am going through all the chapters in School of pipsology
of this site. Hopefully I will complete all chapters in a months time. After that I will open the free demo account & further test my own knowledge.

opportunity cost is too high? sure, but tell that to serious (talented) athletes and musicians, or anyone serious in his or her endeavor. do you think they will quit what they are doing because the opp. cost is too high?

you also forget that trading is a business in and of itself. in fact, it is much much better than any other business, once you get successful in it. no employees, but you HAVE leverage. with or without significant capital, you can succeed.

Other businesses may or may not be better, and surely they are not necessarily ‘less risk or more profit’ than trading.

regarding making a living… you also forget that not everyone in the world needs $80k to $150k a year, or even $300k a year, to make a living. cost of living greatly varies from country to country.

I live of £5,000 a year… that’s university life for you!

I’m wondering what TrickShady is even doing here, since (s)he has such a shabby view of trading. Perhaps (s)he is being “tricky” and trying to discourage people under the illusion that (s)he is going to “save them in the long run.”

[I]My story…[/I]
I have put in a few years to the forex markets, but I have had a life outside of trading, and I do work a full time job as well. What is interesting now, is that my trading activities are gaining my account an almost equivalent to what I earn in my day job salary. I’m not there yet, but I am looking forwards to the time when I will be able to earn way more money trading then I could in the current company for which I work. The irony is that I will be working less hours to make more money. How can that possibly do anything but improve my quality of life? More time to travel, more time with the significant other, and more time with the family when that comes along. As for trading being boring, hell, I argue the [I]opposite[/I], trading makes my day job look boring and something for the dull-witted to toil at for 8/9 hours a day. Trading is not for sheep, mind you, it is a full contact sport.

Yes, the OP is banned, yes the question was asked in 2006 (or whenever), but this is still a valid question and always will be.

I am full time forex trader since 2009, I love this business of trading. Is businees of informations. You need take decision, that for all you success or failer you are 100% responsibility (not your broker or walking cat on keyboard) . I think they are 3 parts of happy trading: discipline, money managment and writing trading plan! you need have algorithm for all stuff for entry, for exit, for holding positions for be flat and don’t trade. You got no boss, no employee and freedom. But you need look out for R:R this is key runs your profit and cut your loss. I am making in average about 2000 euro per month sometime more sometimes less, I am trading from 6 a.m. 10 p.m. CET and only one pair. Most time waiting for trading signal patience :slight_smile: and btw here on this site babypips you got all info what you need to be superstar forex trader, <3 babypips

hi do u (PHEPI) use automated trading signals…does anyone use automated trading signals here and is it worth it?

No I trade cowabunga system, and just waiting for crossover same system like pip surfer, right now I am at trade, GBP/USD since 10:45 CET entry 1.62288 SL 1.62085 and TP 1.62500, will see in attachment


dunno automatic system I dont trust them, pipsurfer got really nice track record Cowabunga Trade Record | Forex Blog: Pip My System and for 2008 is here 2008 Cowabunga Trade Record | Forex Blog: Pip My System

poojafx only for your info trade close, if I can give you best advice dont seach for any signal services they are for 99% scam, and try make your own trading system, here on babypips is really great blog, just follow pipsurfer or take a look on youtube on his chanell, he explain very good all details



So You’ve Finished The School Of Pipsology…Now What? | Forex Blog: Pip My System hope that will help, good luck

This is a good idea to earn big money in less time BUT do not leave your job. Join a brokers firm to share your knowledge and earn huge incomes. Do it as part time trading.