Unless I was trading since I was a toddler where I can do either scalping, swing or day trading even if I am as sleep then I will say I was born this way…it’s in my genes…no experience required…
Majority of successful traders are MADE not born through experiences and time…
Of course one can’t be a successful trader without a learning phase. I just don’t think it requires years. The most important thing is your aptitude, a high analytical intelligence is required. Otherwise 95% wouldn’t be failing.
Being a great pop singer is more about having a great voice and image than having a great mind. Most pop stars have the IQ of a round worm and would flunk a 6th grade reading competency test.
Is the EA something your programming yourself? How would an EA be able to trade news when there are sudden spikes in prices?
People would take this seriously if it wasn’t “I think…” and was coming from someone who has a seasoned track record of verifiable results, not someone who is changing their schema of the markets every week. All everyone else sees here is the exact same beginner who thinks the exact same beginner things when they start, except laced with much more arrogance.
This is about learning and debate, not having a verifiable track record. People who have verifiable track records manage hedge funds. Everyone is a beginner here.
And you won’t find that those same managers were put in that position after only a few months of what you see as a reasonable learning curve because they had “it”. This is absolutely about learning, about building a skill. Putting together that skillset is not something that happens after a few hard months of practice just because you really want it to or because you’re in a rush to leave your job.
Time spent in deliberate practice, preferably with some sort of mentor or guide to provide proper progressions, [b]is[/b] the one discerning factor. While one might argue that the innate ability to grind through the required hours of deliberate practice over time is in itself “the gift”, it doesn’t change the fact that those hours are still required to work toward mastery.
If he profited $20k some days with $200k in capital that wouldn’t be amazing that would be stupid really because he’d be risking 10% just to make a 1:1 risk/reward ratio.
But no, I assure you that is not the case, he’s retired, divorced, and well capped with nothing but time on his hands.
No not a scalper, intra day trading. He uses a few strategies, none of which i wish to share but he does well for himself. I consider myself lucky to be under his mentoring.
Back to the topic, my point was anyone can be profitable. Any one can make this their career. Sure people fail, but those are the people that don’t learn from their first mistake. For as long as you have an emotional attachment with money, you will fail.
There is a proven system that’s been around since the 90s called the 4 week rule. There are variations to it, but it is time tested and proven to be more than 50% profitable if you follow the method.
That being the case, one should theoretically be profitable at the end of every month using this system. But that’s not the case, why? Because people are dumb, emotional creatures that react off instinct.
Not everyone that makes a buck in this gig trades for a hedge fund. Nor is everyone here a beginner. But it IS about learning and debate.
However, I’m here for the chicks and the free beer.
I’m not saying no one here makes money. It just seems the people who do are trading micro accounts and making pocket change. Maybe there’s a few that average a few thousand a month. But I haven’t seen anyone claim they make a good six figure income trading FOREX yet.
I think your confusing Baby Pips with a College Fraternity. If your trying to meet girls here you’ve probably never been laid in your life. Besides I don’t think there are that many hot babes that trade FOREX. All hot girls have to do is flutter their eye lashes and some wealthy guy will buy her anything her heart desires. That’s why guys are always obsessing over the next dollar, because it takes money,to satisfy the honies.
Love isn’t free. It’s a commodity!
The types of people you’re talking about won’t be seen dead blowing their own trumpet on Babypips or any other public forum.
That’s not to say the odd one won’t occasionally pass through casually flipping the odd page or two of interest but you’re chasing shadows if you’re seeking that kind of confirmation in places like this.
There’s nothing in it for them to share or offer their wares.
They don’t need the money & they certainly don’t need the hassle.
Every week there’s a steady trickle of punters signing up at the door to gain entry & every week the click throughs & the advertizing revenue tick up & up…& up 
I’ve got a career suggestion for you that I think you might be a natural for.
Try being a runway light. Because so far everything including humor has gone right over your head.
Ha! Ha! This is a funny thread. Getting traders to admit there not losers. I’m with you Infinitycomplex! I think the money being made is probably by selling courses and advertising off of “How to be a day Trader” Web pages. No offense Babypips. I have larned a lot from your web site and I use it quite a bit. If I remember correctly forex, before it was available on the Internet was mainly used by the Institutions and big Banks, to make profits, and they have the clout to do it with. Little fries like most of us make online brokers rich by opening small accounts. And opening and opening and, well you get the picture. Me myself I haven’t made any money, but I am a technical guy, I like reading charts, that is what pulls me in. Will I ever make money, Don’t know! Probably not. If I ever do, I will let you know.
I’m sure they do exist. I recently talked to someone who trades FOREX for a living and has had a LLC setup for that purpose for years and makes a decent 10k+ a month. I met this guy through a friend and everything seems to be legit, he even showed me how he setup his monitors in his home office. So of course it can be done, just very few people end up doing it because it takes a lot of experience and capital to make a living trading FOREX. Before this guy was a Full time pro FOREX trader he had worked at an investment firm for years.
That’s great! Glad to know there are some who make money at it. My wish or hope is to be one of those. But I won’t know until I can actually trade real money and find out. I kind of liken day trading to the Gold rush. People flock where they think the money is. Especially in hard times. Very few jobs available, retirement accounts going sour, businesses failing. So people will try to make money in other areas. Like the Gold Rush even in extreme environments they will risk what they have to find that one ounce of gold that will lead them to the mother load. If there is a mother load.
Personally i know one who can actually get very rich from forex. And he is very youngggggg. He learn from his mentor -.- his martial art teacher who is also a successful forex trader and retired. I think blind cannot lead blind.
You can not learn to be a doctor from just reading a anatomy book. In the book there are some true pearl and a lot more is redundant material. You learn fast if you have a good teacher.
BASIC assumption of economic activity: everyone is selfish, so the world will move.
It is difficult to find someone who is successful and willing to teach you on forum from the bottom of his heart…
Are politicians/doctors/lawyers selfish? of coz they are.
What can we expect from a trader? esp where his living depends on his edge…
I make over $30K in last few months and I’ve only been trading forex for less then one year. This market is very good for new traders to learn fast and know what they are doing. I recommend you search “price action” threads for how to really make much money. I just follow trend main time and buy if price is going upwards and sell when price is falling. Don’t complicate.
Cool! I have read on some Forex forums about traders who paid a lot of money for Forex courses and actually went in the hole. Negative cash flow. I also watch Bloomberg TV occasionally and I have seen some traders who are getting rich in stocks and futures. What type of futures, don’t know.
I’ll break with tradition!
I’ve made about £5000 in the last two weeks. My aim when I started trading 3 months ago was to make £1000 a month but on average (past 3 months) I have made £8k a month. Not quite as much as the job I left trading for but at least I can work from home.
Looks like you got a lot going for you. Since you did work as a trader before!
Hi Allright, Sorry, I wasn’t clear in my first post, no my job was an I.T. Consultant, which I left 3 months ago for FX Trading