Does anyone really make money off of the Forex?

You cant say millions over night isnt possible, cause it is… Relativly speaking… Concidering, a human can go to college, for 10 years to be a DOC or whatever we need to make the world run, and alot of them cant find work, or not cut out for it…

FOREX IS SIMPLE,

Yeah, yeah, how can I say such a thing?

You have 2 things you can do, go long, or go short… Thats it…

WE, OURSELVES, Make this harder then it is…

I do, I know that for a fact… But when I first started, I was raking 300 pips daily, SIMPLE…

When I started learning other things, i got caught up…

Like riding a bike, its easy once you know how to balance yourself. You dont need to ride like Tony Hawk to get down the street, nor, do you need to take lessons to do it.

One day traders, Onneee day, you will see what Im all about…

O, and stop aiming for 60% win rate, thats mindless… Do you half way tie your shoes?

Aim for 100%, if you fall a tad short, its way better then 60%… No?

Im Out,

BET

Agreed. The data are I am sure skewed by people closing losing accounts, early drop outs, etc. It must be a total count of all accounts that close at a loss or something of that nature.

Case in point: we are about to shut an account at a loss although two strategies that were productive in that account are going to be rolled out on a new platform.

Agreed. The data are I am sure skewed by people closing losing accounts, early drop outs, etc. It must be a total count of all accounts that close at a loss or something of that nature.

Case in point: we are about to shut an account at a loss although two strategies that were productive in that account are going to be rolled out on a new platform.

I haven’t started trading yet, but I am to the point of starting some practicing. I have been taking my time learning. There is quite a bit to ingest as far as all the different techniques and tools with Forex. I believe the more knowledge and money you have, money in your account the better chance you have of succeeding in Forex. Most brokers will even tell you the higher your account the higher your success rate. But without the knowledge your also losing in your favor. So knowledge and money plus money management will help you succeed. Since I am new myself and haven’t done any trading yet, my plan is to learn as much as I can, start with a mini or micro lot account after practice trading. When I feel I have the hang of it then and only then will i begin to trade real money.

Thanks ken. 4th winning month in a row. 420 trades. 76% wins. 12pips average net of losers. Starting to get a large enough sample to have statistical confidence.

:slight_smile:

“Does anyone really make money off of the Forex?”

Brokers make a lot!

Banks also make money! cuz they’re in business! If not, then non of them here in FX world.
Just my 2 cents

I am a bit confused on this matter myself. A thread was deleted because of this same issue. I think, from what I have heard on this site that, my understanding is Yes, there are people making money. Who, The big banks, and there are 10 major Banks making money off of you and me, the newbies who don’t know jack about trading. Also online Brokers, giving us free software that makes them money, because we keep using the same old trading systems that are outdated and guaranteed to make us lose. And another guy, The people who write the Books and articles saying you can make a living trading Forex and Stocks. Those are the real money makers. So, what can I do, we do. Treat it as a hobby. Because I have not seen one shred of evidence that I can make a living with Forex. Now I have seen evidence of getting rich in the stock market day trading. But for the average Joe, like me, I see nothing, Zip---------No evidence what-so-ever.

People do make money I am one of those people. I created my own setups and then automated it. It is more difficult then people make out. But I make around 20% a month.

Tend to agree, automating your own set-ups is the way to go, not that its easy, far from it.

the more money they have to invest the more they make, if they invest 10,000 they make in the thousands regularly if they know whats going on.

people who only put 50 dollars in only make a few dollars or lose it all unless they have high leverage more than fifty to 1

Yep took me 3 months to develop it. Hard stuff if you want to maintain gains over long terms.

I think I should say, if you can dream it become it! I have read about others who do make it in the stock market. I am not sure about Forex, but there are people making a lot of money in the Markets. I guess you won’t know unless you try it. Personally I don’t see why you can’t!

Trade that for years and tell me you’re still at 20% a month and I will give you every dime I have.

I have hit 20% a month quite often. Heck I have come close to hitting that in one trade risking 2%. However I highly doubt I average 20% monthly. More like 10% at best. It also took a lot longer than 3 months to develop my way of trading. Hell its still in development as I type this and will be for the rest of my career in trading. I also doubt this year will come close to averaging 20% as I made some tweaks from last year to up the R:R and win% but the side effect is way less trades. A sacrifice I am will to make lol

wow that is good. 3 months? Took me years (many many years) before i made enough to buy my first ferrari trading (cash). up to 3 now))) Ferrari(s) that is.

Any return should be regarded as ‘random’ unless it can be ‘confirmed’ by at least 500 trades. I’m being simplistic, although you get the drift. A good book to read is “Evidenced Based Technical Analysis by David Aronson”.

I have a ‘robot’ (JForex Strategy) that, in backtests, turns $500 into $65000 over a six month period. Wow indeed and not BS. One ‘small’ problem is that it loses the lot by the end of month eight.

Trading has more to do with the control of risk, ie surviving, than ANYTHING else. Some of Van Tharp’s books explain these concepts in great detail. I especially like his “marble game”. In it most participants still lose, despite being given a trading edge, ie 60% chance of winning an even odds bet. The reason, poor money management. Ask yourself, will my ‘system’ survive 10 sequential loses?’.

PS
Ferrari, is that what you call her?! LOL.

I have traded it over a year… I risk 1%. It works. Plus I manual trade and have my ea trading a different strategy for me at same time.

I totally agree my ea worked through 24 months. It’s not a huge gainer but makes 120% annually. More pips in the pocket.

3 Ferrari’s, Hey that’s pretty good after years of trading. 20% per month, that’s dam good, heck 10% per month is good. I’m only getting 10% Per year in my 401K, AND IT’S MY MONEY. I get 6 percent from the company. 65,000 dollars in 6 months, not bad. Sounds like a worthwhile endeavor.