Well said! Money always matters but if you love what you do it will make difference.
I understand… you are probably keen more towards a slow steady and longer growth which is fine. Its your money, investments and do what you want to do with it but you may also looking into the “opportunity cost” of what you got to lose (time) versus when you boost your return on investment in a way that you can speed up your financial goal. maxing out 401K plan, Roth IRA (in US) plus having a paid for home are just as simple investment and more practical approached in which it is achievable plus working full time with an opportunity to moved up in a corporate ladder (if this is one of the career goals) with a potential boost in income as well…
Though, making 5% a month trading in FX is very achievable with a total of [B]60%[/B] return in a year. You can do that in less than a year and you can still sleep like a baby 
while take a break here and there and do some travelling (Vacations). You have to have a commitment and [B]I CAN DO IT[/B] attitude to get that kind of return…
Good-luck!
Have any examples of a single forex trader beating index returns for 10+ years? Plenty of index investors beating out forex traders. They’re called millionaires after 20-30 years.
I only think profitability from Forex is possible in the Long-Run and by trading the Higher Time Frames - Daily & 4 Hour.
I wouldnt be surprised if the small percentage of people who are successful trade this way/most who fail try to trade the lower charts.
When one does a comparison of the profit potential, the number of hours spent, the flexibility to do other things while trading etc., the larger charts traded over the long-run reign supreme.
Over the last 5 years as a trader, I was only successful on 1 occasion- when I humbled my self (tail between legs) and traded on the higher time frames. It literally took only 4-10 trades to generate more money in a few months compared to tthe hundreds of trades on the lower charts. Unfortunately, the bad habits developed trading the lower time frames prevented me from continuing in this way. However, it was only after my last failed strategy on the smaller time frames did I finally commit to the Daily and 4H once more.
In doing so, I have also developed a methodology that puts it all together with clear sets of parameters and rules as a way of ensuring that I no longer revert to the failed short-term way of trading. This was tested with a combination of live and demo trades over the last few months with good results to say the least. If what I have tested continues to be replicated in the next few months, it could put those indices to shame.
BUT, talk is free and cheap and only results will matter. I am now focused entirely on trading these live and have just posted the first of these in this forum. Hopefully more persons will choose to trade this way since Long-Term success is our ultimate goal.
Regards
[B]DRFXTRADING[/B]
Hello brother Braden!
Well, good luck to you on
your real estate and options
portfolio…
I was mulling over this question of diversification,
whereupon I stumbled on this article:
Personally, I do not know any. In books, article I do or is it maybe because I am to busy creating my own. As long as I know that it is possible to make money in Forex and I already proven that to myself in just 3 years (short period time), that’s all I needed to know and believed. All I needed to do is to repeat the process and continue on improving myself as a trader. I already lay out a foundation that I need and focus on my performance each time everyday, weekly, monthly, or yearly because what I do today ( present time) is what will determine my future. My future is not here yet so I take care my present time and do it one step at a time then I know what my future millionaire version myself will be look like.
Like I said, I don’t really care what indexes investors does or do because it’s their own money and goals not mine and maybe they are more knowledgeable to invest in indexes than trading currencies. It doesn’t matter if you trade stocks, Bonds, options etc. As long as you know what you are doing and you are making money. Some people probably no matter how much they tried to trade in Forex, they still doesn’t get it because not everyone will like the same thing. There are some better fit to trade in commodities, or some just being content to invest in mutual fund. Finding what’s suit you is the key along with your skills, talent and knowledge and not just because the reason being is that “indexes investors beating out traders in forex”. So what and who cares? I still can make money…
Trading forex is not the only way you can make millions in 20-30 years from now. There are other investment vehicle you can do and I know you already look into it. So keep investing, this is a perfect timing to do it. Always pay yourself first through savings and investment before everything else…
PS: [B]You do not need to beat them rather you will do the BEST as you can[/B]
Great article. Thanks
Gp
In my opinion this post is the real Holy Grail. I hope all traders follow your advice for that is where you really start to see the difference in your trading. Good one Pip
Best Wishes and Continued Success
Gp
I vote PipNRoll for president…
Haha! Which country, Scotland? I vote Hillary Clinton as my running mate or Sarah Palin…Sarah is my personal pick because she can see “Russia” in Alaska lol
Thanks GP! You too and for everyone as well I wish you all a continued success I hope I helped in some ways to see things in a different perspective…
President of Forextown ? 
…and you can definitely have Hillary ;))
You’re right Braden. It is for this reason I see forex as a game and not a career. Like with any game, i’ve given myself a shelf life of 5 years as a forex trader before moving on to other more exciting and steady investments and this is why I ask the when do you plan on quitting question. I’m in Year 2 and i’m in 32% profit overall, have scaled down my original investment and I have learned so much this year.
This may not be a popular opinion but I believe the only way any forex trader with 10+ years can make money is by writing a book and an article for a forex blog.
When you are in your early 20s, these is the time when you are still trying to " figure things out" and see what’s out there and figure it out if this is what you want or not. There are those young padawan that they still doesn’t know what they want to be when they “grow up”. So they would rather try everything and anything and not put any effort, hard work and if they do, they just quit in the middle of it. Maybe lack of maturity to some and this is also apply to both man and woman. At this young age, time is on your side. However, you do not want to make it habit that you will always quit on everything… There will be times in your life time that you need to make a decision if this is what you wanted to do especially if you are in your 30s, 40’s and beyond.
By 30’s you should already figure it out what you want to do or where you wanted to be because you cannot bring back all those wasted time. You cannot buy time and the " opportunity train" will leave with or with out you. So it’s up to you to hop on that train and enjoy the ride or you wait for the next one… And hope you do not wait for a very long time for the train to come along…
Thanks for the life advice although i’m not sure what you are referencing since i’m a full time engineering intern who is a proponent of the idea that the market does not pay an hourly rate so never quit your full time job to become a forex trader, so i have no idea how my age matters. I have literally looked at charts for every day (saturday and sunday included) for the past 9 months, at least. An old dog cannot learn new tricks, so I stand by the statement that any trader with 10+ years is simply not serious and/or cannot learn new tricks to become successful. With that said, i firmly believe that the forex regulations would get even tighter in the next 8 years, so let’s enjoy this period while it lasts.
More than likely, the age and experience of one self determine what he/she wants to do. I just don’t get why quitting in the middle of it. I understand to take a break and get back to it but quitting? 5 years into this trading is when you really start making more and some are already trading full time. I guess it is also how you look into it (Optimistic or pessimistic) Doom and gloom is not really my forte. Anyway, 32% is a really good return so that means, so far, you’ve beating the indexes… So there you go… Do it again next year and for over 10 years then you get the answer that you and Braden are looking for. You will be the living proof for that…what a great legacy you can live by…
I just look at it realistically. Investing in companies worth the money has always worked. Gambling is a skill/luck that can backfire at any time. I like forex. But if you don’t think it’s gambling you’re wrong. You can use whatever method and MM you want but a zero sum game produces just that over a long enough timeline.
If you think you can get 5% a month and 60% a year ( guess you’re not compounding these glorious delusional returns) for 10 straight years then go for it. I’ve been around the block too many times tho. Can’t fool me
Forex trading is not a zero sum game. there are too many participants with very different goals in this market. No one is after your £1000 or £5000 or whatever your account is.
It’s not a zero sum game. However, I believe the final destination of all accounts is $0, so i’d rather profit take than let my profits compound because your losses would also compound too. Unfortunately, I learned this lesson the hard way.
PipNRoll, Thanks for the encouraging words