Yes it’s really challenging that’s why I’m wondering if there are people whose sole income is trading fx.
If only I could find that perfect strategy.
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Not a small problem though! ha!
How the account size? Are there minimums?
@samewise - Correct.
@blueskies18 - Correct.
So, think it through.
Who is making money in forex? The banks. All of them.
Who is losing money? Private retail traders. 75-85% of them.
So whose strategies are worth following? Whose strategies should definitely be avoided?
What sort of strategies are the banks using?
@flamingoproxy
As someone new to forex and CFD, I’m very grateful for this thread. I’d love to ensure I understand the risk associated with forex futures vs. Spot/CFD.
I understand that in the spot retail world of CFD, I’m adverse to my dealer. I figure that’s a risk I’m willing to take to a certain degree, provided the dealer is funded with quality LP, it has a reasonable and transparent hedge policy, and it’s reasonably regulated. I prefer a dealer that internalizes risk so that I’m going up against their other members in the pool, but of course there’s nothing I can do about that.
Where I’m lost (being a noob) and where I’d be grateful for your insight is understanding how futures are safer. Because from what I’ve gathered, where the biggest LP in the world get caught manipulating prices, nobody on earth can be trusted. And because the manipulation that goes on in spot forex impacts price, futures contract are likewise impacted?
As for regulation, it seems even the US SEC rarely puts the price-fixing crooks it catches in prison? The crooked fixers get a fine which amounts to a slap on the risk, and they just crank up another scheme down the line?
Many thanks in advance for your thoughts!
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The fear of being “spiked” out by a well regulated UK, US or EU broker is over-stated. Unless you’re trading on time-frames of minutes, which a new trader just should not be doing.
Yes, I know everyone does it, and everyone says you should do it, and new traders have small accounts so how can they make any money unless they trade intra-day and everyone says scalping is exciting and a stop on D1 is so far away the position size has to be tiny. And they’re all wrong. 90% of traders agree with me, they just haven’t realised it yet.
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It is good that Forex is a global industry and that anyone can use it in any part of the world.
I think most newbies come here thinking forex can replace their day jobs and it’s really not the case. 
I believe it to be the opposite, though, as new traders are often disappointed in the beginning because they feel trading is not for them after a few losses, but as they gain experience, they work to gain the proper understanding.
Are you trading full time?
How about you? Is trading your full time job or is it just something you do while still having a full time job?
Haha it could also be while reading up on the basics then after trading on a live account.
With forex it seems like you need a large capital to be able to rely on it as your sole source of income.
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It just feels like with how my trades are going it’s not gonna be anytime soon.