i agree i am same as you. i would need between 2 3 k month. now if i add my small pension a month i would be able to live with 10 pips a day if i could. it all depends. if you r used to making 100k a year it may be harder.
I agree that location and cost of living matters. In the Philippines, Iād be more than happy to earn $1000 a month. Thatās already almost twice my monthly salary. And I know a lot of people who earn far less and still manage to get by.
so trueā¦
How about this? What do you think? Is there some truth in his reply:
https://www.quora.com/How-can-I-earn-with-trading-forex-online
You can learn Forex trading by yourself, here are some quick tips:
Download in Internet some Forex basic information, read it or watch videos about it. Itās not so many information, should be about 20-30 pages book, or 1-2 hours video on YouTube.
It will take you about a week to understand all things ā classic patterns, levels, channels, etc. These main things will start your trading process.
Download Forex terminal open Demo account and make practice there. 1-2 weeks daily practice, you will understand Forex mechanism. Use only 1 currency pair, it will be faster for you to understand market. Donāt jump from one pair to another.
Remember, if you are able to trade one currency pair ā you will be able to trade all of them. If you will be trying to trade all currencies at once, you will slow down your success process.
About Indicators, if you want to start trading quicker, just move indicators for next time.
Use only candlestick charts and follow market, watch how it draws levels and patterns. It will help you to understand market pulsation.
Follow money management, donāt trade with big lots, use low risks. Try to collect pips, but not amount of money you earn.
Follow these recommendations and practice on Demo account, 2-3 months of daily trading and you will see results. Then you can move on real account and tradeā¦
If you already trader, but still unsuccessful, try to understand where you make mistakes and work on it, donāt repeat mistakesā¦ Donāt try to find something new in Internet, itās one of mistakes that traders do - canāt follow strategy rules and search for another strategy, and make same mistakesā¦ Work on one strategy and follow it rules.
Here you can check my Forex steps:
-
Reading books about Forex (classic figures, patterns, levels, candlesā¦), ā it took me about 2-3 months, in the evenings I read information, checked that on the charts. Firstly, I was trading on DEMO account and then I opened REAL account with small deposit and was trading with small lots. Result ā I lost about 60%. My deposit was slowly going down week by week. I understand that I need some more information.
-
I started searching for different strategies in Internet, testing them one by one, there were strategies for intraday trading to long-term trading, and results were same ā losses. It took me about 6-8 months to test several strategies and didnāt get any results. My real account was lost while testing different strategies, and I was afraid to open new account, so I trade on Demo account.
I understand that if I canāt make profit on demo ā I will never make profit on real account. So there was no sense to open real account.
-
I understand that I spent about 1 year and didnāt get any results on Forex and decided to search for people who is trading successfully and ask for support. I visited some forums and found some people. I contact them, asked different questions about trading, how to trade, etc., and got valuable answers.
-
While I was in contact with traders, by their advice I removed everything from charts and started trading on candlestick chart on ONE currency. About half a year, I was trading on demo account and was building profitable trading method.
In a result, I build a strategy that doubled my demo account. After that, I opened real account, and followed same rules on real account and got results.
When I start making revenue on Forex, same as I earned on full-time job, I decided to quit full-time job and work whole day on Forex. Until present time I make intraday trading on Forex only.
Now I manage accounts with more than 1 million, and itās enough for me to make good profit.
I use my own trading strategy and here are my steps how I reached monthly profit for living:
My starting deposit was $2000. When I start making revenue on Forex, same as I earned on full-time job, I decided to quit full-time job and work whole day on Forex.
I reached deposit of $5000, I quit my job and worked on Forex only. Using my strategy, I made about 20-30% per month. It was enough for me to live.
While I was trading, I was searching for investor, to manage their accounts. I already had 6 months of trading statement, so I could provide a proof of my profit. My aim was to search for big investor, with minimum $50ā100k deposit.
I found an investor who gave me $70k for managing it.
What I did next:
I earned about 20% profit on investors account within 1 month using low risks and controlling Money Management. Then I decided to increase my risks for getting more profit. As a risk I used the profit that I made already.
So here what I had:
I increased 70k to 85k, on the 1st month, and then I increased 85k to $150,000 within 2 months.
$80,000 profit in 3 months, the only risk was $15,000 that I earned on 1st month.
We withdrawal 70k (initial deposit), I got my $40,000 from the profit I made, and leave 80k on a balance for trading. Every time I double the deposit, we share revenue.
It was very good starting for me, as after this investor I got many requests to manage accounts.
Now I earn much more, do it in light trading.
In my Quora blog, you can check my trading results. You can come to same trading if you learn Forex thoroughly.
I use Price Action strategy, trade on EURUSD and GBPUSD.
You can check my Day Trading Strategy in details, go to my Profile and you can find all material there.
Good luck!
Dorrow Green
Just one question. If youāre making $730k over whatever time period your image claims. Then why are you selling a training course for $11.99. If youāre selling it to make money, itās a drop in the ocean compared to those āprofitsā, so why the effort? If itās to āhelp people reach your levelā, then why not do it for free, you donāt need the money so the satisfaction is the same either wayā¦
1 Like
Sure it is possibleā¦but very very hard.
That is his only ever post on the forum too!
It seems to me that many people are afraid to move into this business on a permanent basis. Because they think itās too risky or dangerous. But I think there are certain perspectives in it, because it gives you the freedom and opportunity to act exactly as you want, the main thing is to take it seriously and not be afraid of certain losses.
1 Like
Well, it definitely makes sense, and I know a lot of people who have already started Forex professionally and have good achievements in this. In my opinion, this business can be easily equated with any other business directions and can be considered an excellent source of basic income.
1 Like
No he replied a lot. You can see it there. The latest one is on June 29, 2019.
Perhaps itās because he had come up to what heās now was not easy. And as thereās no free lunch he charges people some amount.
BTW, he also has YouTube link containing playlist of his video clips about Forex. And itās free.
I was just a bit unsure if he could really get someone invested on him @$70K etc.
Or perhaps itās because heās trying to con people into buying something. This website is full of people wanting to get rich quick, and $11.99 discounted from $134.99 or whatever it was, seems like a great deal. But all that will be in there is the same regurgitated stuff that is on virtually every training course and you can access for free in many places.
Maybe Iām wrong, but I donāt see what somebody who can turn chump change into a fortune very quickly has to gain from selling something, thatās priceless if it works, for that price.
You said it right. People need to be realistic about it even though its possible.
Ah sorry it was you with 1 post 
No one will teach you to trade for $11.99 lol
Forex trading is just a side hustle for me. I wouldnt make it my major source of income unless I had a lot of money to spare. It is never constant, I might make loses any time. 6000 is just too much for me to risk. I would rather go small as I always have. Unless you have more than 10 yars of experience then you certainly shouldnt.\ think of ever making forex trading your major source of income
As the āmainā source yes it is possible but as a āsoleā source, I donāt think that is a good idea specifically for forex. Even the professional managers mix forex with their stock portfolios. IMHO, making forex as sole income generator will make a trader perform poorly. Why? Because thereās a high chance that the traderās emotion will f*ck his/her brain and lose rationality when he/she encounters adversity because of his/her dependency on that income.