Does anyone really make money off of the Forex?

The journey to success has many twists and turns but it is possible to make money.

The golden thing to remember is to be realistic about your expectation. 10% a month return on your account is the target I aim for.

I made $330 yesterday from a $10,000 account. There are retail traders who make over a million dollars a year! The problem is not many of them are willing to take the time to write down their systems. Why would they? Most people that sell systems/write books on trading are failed traders trying to make a buck!

Sorry, but that´s simply not true (Marketers trying to sell their stuff often quote it), the truth is (some of the largest Brokers made an investigation) that about 70 % of Traders loose Money, 30 % are profiting, 5 % earn a lot of cash and
1 % are the eleite.traders.
Of course if you only count newbies the percentage of loosers is bigger…
I´m trading Forex since 2 years now and I needed 15 month (on Demo) to become profitable, meanwhile my Live-Account grows between 3 % and 35 % a month, but if I reinvest my earnings I suppose I´ll need another 3 - 5 year to live off it.
Kind regards
parsifal

Try XM.com. I trade with them and they offer micro lots.

What’s that about? Mess with trades. Please explain more…

I am aware brokers get inventory but liquidity is constant from liquidity providers and if it is low they will essentially increase the spread to affect demand and supply. Why would they mess your trades? And how?

Broker/dealers may take positions themselves Deutche is a broker dealer but again your trades are based on the orderflow so if you are on the right side then great but if you on the wrong side then Poof! Zero sum markets, loosers pay winners…

The brokers normally have a good idea of the orderflow across all brokers as this directly affects their inventory but in most cases liquidity is constant so brokers have no risk so worry only about spreads. Any other microstructure specialists care to elaborate? Microstructure has never been my strong suit in fact I am really just starting to get a handle on it.

I’d say 80% of the traders who try it will fail eventually. Maybe not at the beginning but certainly after a couple of months they fail due to lack of discipline and money management.

Reinvest / compound your earnings will get you sooner to your target. I calculated that within 2 years I can live off of forex due to compounding my earnings.

Good luck

In other words 80% fail because they don’t know what they are doing.

I’m not sure 80% is the correct figure as I really don’t think anyone knows the correct figure.

The problem with quoting this figure is defining what success is.

Jessie Livermore is classed as a successful trader but he died broke… go figure !

In this Internet age, the word ‘fact’ is sadly often followed by something which the writer couldn’t prove and doesn’t know to be a fact.

But it does keep the debates flowing nicely - if we actually had half the facts claimed various discussions would have run out of steam years ago.

Truly agree with you Simon

[QUOTE=“david222;598995”]I think making money in Forex is very hard if you have no knowledge about forex. So if you want to earn some money then go to a Forex school and learn about Forex. Then it be very easy to earn some money.[/QUOTE]

Name one school that can do that and can prove it !

Traders who follow the tracks of the big banks and hedge funds do make money. Key is to employ the same techniques like the major players like Fibonacci-Numbers, Pivot-Lebels, Divergences and Ichimoku. Turn up the Volume !

and your source is?

I make money. And got the tax bill and accountant fees to prove it. :frowning:

I know it is hard if you are a starter in forex but as time goes with effective learning and studying you can get over it no matter how complicated it seems to you. I traded with demo for some months with the aim of coming up with solid trading strategies. Do trade with demo account for now, I’m pretty sure you will improve if you believe it.

You can make money from Forex… and there is absolutely no need to lose money with Forex but 99% of people will anyway, even those who go on to success will have had some kind of major loss to report!!!. The steps are in fact very simple and very logical:

[ol]
[li]Develop through knowledge a complete trading plan
[/li][li]Make sure that plan works on the back tester
[/li][li]Make sure you can execute that plan on a demo account
[/li][li]Add the psycholgy element of live trading on a small account
[/li][li]Build up that small account or add to it to speed things along
[/li][li]
[/li][/ol]

Unfortunately patience will get the majority of people because it is not a get rich quick scheme like all the internet hype suggests, very few will get though that list and go on to profits but that is the real path. Check my username and visit my homepage for enough free information that you could possibly need to get started… and most importantly of all, enjoy the journey, it will humble you!

XM best broker

I trade in forex because i want to get additional income in forex. Now, i’m only a part time trader in forex, but i want to make my trading account be more maximal.

This Secker fellow is still around, still peddling his smartcharts. I feed of the free things like seminars and the like, take the little truth he sells(motivation) and keep my $ where they belong(my trading account)

Yes I know lot of people who are actually making money. I am also inspired from them and start trading in forex. Now i am learner and making way in the forex with demo trading.

Yes people do,
But not all people are ready to work hard enough to have it.

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