Do anybody makes money at forex?

I am new to forex and people always say that forex is very risky.This means that loss is inevitable in forex.So,now if loss is inevitable,then how are we suppose to earn ?

A simple answer to your question is Yes. People make money in forex but it all comes down to discipline and patience. You will find many traders who make their living by trading currencies.

I have only been trading for one year and have seen lows and highs. But I am certain with a sound technique a trader can make good money. But making money in forex is easy said than done. Just like any other business it needs good planning on the trader’s part.

Agree with the above. Though I haven’t actually got underway in live FX trading, I think it is evident there is money to be made. Is that money easy? no. Personally I am likening it to poker, the majority of people will lose money but just like you get consistently winning poker players, so too will you get consistently successful fx traders. The trick is how to get from the majority into the minority…

welcome to the world of forex.

A loss is inevitable not only in forex, but in all the markets (stocks, commodities, futures, etc). So the first thing you need to do is to accept losses as a part of trading.

how are we suppose to earn? We make money by maximizing our winnings and cutting the losses. Every businees is risky, but with a good money management and discipline you will be profitable. This is not a get rich quickly business. This is a long term.

hope that helps.

Basically that’s it.

It’s all about winning more than you lose.

It’s about winning more often than losing.

And even if you lose more often than you win, it’s about casting a shadow on all the losses with our winners even if they are not many.

That is why is important to keep a trading journal, and record all your trades, and calculate all your ratios such as win/loss and risk/reward.

Around 9 of 10 traders lose consistently more than what they get. Until money is out.
Around 1 of 10 traders win consistently more than what they lose. They do get it from the losers.

Please don’t nail me down to the exact numbers, but it is like that.

Plus be careful with online suggestions. I guess 99% of all people around use demo accounts or they are playing with peanuts. The very first thing which comes before a profitable trader is independence. You can’t win anything consistent by just following others as copycat. The crowd loses, which is an inherent law of trading.

As in every business, you can only win over the other 90% of losers, if you are 10 times better than they are. And if you are in the 10 percent elite club, it doesn’t mean you will get much. To get much, you need to be in the 10 percent elite club of the 10 percent elite club, if you understand. That’s almost impossible for any newbie and I classifiy here newbie as under 20 years experience (myself included).

To trade more precisely, have more patience, better plans, etc. etc. you have to work and learn hard. And there is no warranty from anybody you will ever get it.

Simple spoken: It is 10 times easier to lose money and 10 times harder to earn money. I don’t mean the lucky strike. You can have a lucky strike for months and then lose it all in one week, but to be a consistent winner, you have to trade profitable for years.

20 years of experience to achieve that level of performance?

That’s very unattractive, because after 20 years of experience people would be looking for retirement.

I don’t know how your mathematical skills perform, but if anybody starts trading with say 18 and works 20 years in this business he would be 38. Do ppl retire that early nowadays or do you search for a quick rich scheme? I guess you then will be disappointed soon. :wink:

If you read precisely, I wrote about much roi. The best of the best. One question at least: How much is your own roi over the last say 1 year?

Just an advice, don’t risk your money before you are ready to trade, use a demo account first.

Yes you can win.
It mostly needs discipline and strategy.
As you earn more experience, you may be able to predict how the market may move.
For me, trading the news is one of the more efficient ways, but you need to choose a broker that allows it :wink:

i’d say most of the traders on this forum aren’t making any money in trading.

Its bizarre isnt it that people come to seek advice from somewhere where almost no one is actually qualified to give it ?

is there a forum where most traders do make money trading?

:stuck_out_tongue:

Who knows, maybe out of simple statistical coincidence there might be.

Or maybe a private forum where only successful traders can come in xD

I’d call that (ProForex)

Is that a Forum?

Nope it’s just the name which I imagine for only successor traders forums.

In fact, most of the rather active posters here and everywhere distributing systems, are those who play with peanuts, demo or have loss or less profit than you can just have with buying a gold coin while price dips. Which makes a 25% profit on average over the last couple of years per annum. Without much risk.

In fact, most of the most sound advices are crappier than the advice to flush your money in the toilet bowl.

So, watch out! :wink:

But there are ppl who can make a lot of real money (so far) with forex and I know him very well. The difference lies in the thinking. Just thinking. I’d say, more people do not think and rather try to use propaganda (in this case from brokers or hearsay) and only a few people think really own good stuff.

I do not say I am the best of the best, because I do just 10 years in investments and that’s the beginning, not the end. But I am profitable and that is what counts for me. More years to come for learning.

The point is, if I see all the people begging around to become a multibillion dollar forex winner in 10 years or less, I’m just laughing on the floor. Look a little bit around. Are all guys around you driving Ferraris, flying jet air planes and buy islands in the carribean?

I can tell you one thing: If you want to be profitable in any high skill business, at first forget all what you’ve learned, then learn how to work hard and learn the right things, which are nowhere told by anybody (because high profit systems are not public) and then be prepared to have a small chance to become a forex winner in the far far future.

All the others are losers to pay for your winnings.

well, you never know.

but i’m not aware of it.