Absolutely not. Your demo account performance is 100% irrelevant. You do not trade in demo accounts and you only learn how to trade by actually trading. Plenty of new traders do well in a demo account only to find out the hard way that they did not learn anything and blow their live account in a heart-beat.
There are other ways to make money from forex than just trading. You can become an IB, join an affiliate program or become a mentor or system developer.
Here is a short post on this subject.
How to Earn a Living in Forex Without Trading
Very few ever think about what you have mentioned. Trading is 100% up to you while the others depend on third-parties which you can’t control, but you are right there are other ways to earn money from the fx market than trading.
Basically agree with you, we can make money on everything in this world. Main question is “How much?”, how much we can make trading, bloging etc.
This how much is the real problem. A person would be happy to get $500 in a month for all his expenses while it might be 1 day expenses of the other person. So this living varies person to person.
Yes you can make a living trading. Is it easy? No. You have to be disciplined, be able to manage your money & learn to see the repeatable patterns that the market offers. If you are willing to put in serious effort & treat it like a business, you will succeed if you put your mind to it & let nobody tell you that you can’t do it!
I’ve been a full time Professional Traderr since 2007. Forex is my passion, which is why I really love helping anyone to overcome their challenges and become profitable in their own trading. If you’re just getting started in trading Forex, or if you’d like to take your trading to the next level, I’d love to help!
If you’re new to Forex trading and frustrated because what you’re doing right now isn’t working, I can show you how you can make a Forex Passive Income in just 30 minutes! Everything you need to know is in my free report.I taught myself from the video tutorials of the company under which i am trading i:e Forex Trading | Trade Forex with Alpari – International Forex Broker!!
Yes I think so, while in forex althuugh this is offer unlimited income, but not always we an making profit on trading, but because forex also as one great busines hence many trader still here because they want to making money with forex, it’s possble to making forex trading for living
In my country if a person have 6000 - 8000 USD in his account then he can live on forex trading alone. But off course he needs to have a good trader’s attitude first.
In order to live off forex you have to make money consistently, which is a difficult task. What is more, trading a matter of opportunity, sometimes market conditions simply aren’t favourable and you have to wait, which means that you’re not making a profit.
Agreed.
There is the newbie dream (we all had it) and then there
is reality…
Undercapitalisation and overleveraging often make
such a dream of self-employed independence an
unrealistic chimera: it will start with great hopes,
but in the end it will only come to tears.
And you also need to have fairly large account, otherwise you’d be risking too much for crumbs.
It is not impossible to make a living on forex alone, but it is very hard to do so. You need to be a great trader in order to become a good full time trader. Also you have to wait and be patient all the time to look for exact setup you need to trade which is a very tough situation for a full time trader.
You also need a large initial account as well as plenty of knowledge and experience as a trader. It’s not something a newbie can do.
I would suggest not to have this thought at first, just start small, study the market etc…
As they said, it is a risky decision to make a living from it!!!
I do think about this that why would anyone will want to liv on forex alone when it is very easily possible to do forex as part time and earn full time. Professional trading doesn’t mean that you need to spend 8 - 12 hours in front of charts, you can spend only 30 minutes per day for it as well.
I do make a living of Forex.
Thinking about opening a thread about it. How does myfxbook works?
Good if you already making forex for living, I have some friend which they also already treat forex as full time business and they can covered daily purposes from earning forex business
Making money in forex is so hard if you are new in this business. But you can make it easy if you can give time to learn Forex. so work hard and learn forex before start earning good money.