Making a living out of forex is more than okay. It would also be nice to hear more success stories rather than failed attempts at trading forex.
Wouldn’t trading different markets be too complicated for someone who will just trade on the side of a day job?
Yes! One of my good friends is doing very well from forex and has just brought his 5th property.
I think the best one can do is to focus in one pair only, and one that has a lot of liquidity and therefore low volatility, once you have made 400 PIPS of profit then you ca add another pair, and the most successful traders only focus on 3 pairs maximum.
But I will try to master one, before moving to the next one.
That’s the plan!
Focusing on one pair only is a great way to learn.
@mixm you are new to trading, you have a long long road to go. Don’t listen to scammers or paid signals, that doesn’t make you rich, not even a chance I believe. For education, Google is everywhere. More than that, babypips pipsology is the interesting school. But the thing is, you will have to face the pain in your real trading journey in order to develop the serious skills that real trader acquires. It’s not a movie where you can enjoy watching and gone. It’s a family you have to watch over for life if you want to be hitched with forex.
I agree, it has to become a lifestyle for you. literally everyday it should be a part of your life starting off
I do know someone.
He is not some kind of top notch economics graduate with a finance background. You can call him a mere engineer. A PRETTY rich one.
I had the exact same question before I started trading myself. I am not afraid of hard work. I just want to know is this possible. He said yes it is, showed me “proof” in his demo account. Back then I was skeptical and attributed it to luck. But slowly I realise the more you understand the markets, the better your trading becomes.
I happen to know one completely ordinary guy who probably has some additional brain cells for Forex. He created a strategy that brings him significant amount of green pips. But he is not trading majors, but found some “anomaly” in exotics. Of course, he is not talking what that exactly is.
Yea you need to increase your circle, sounds like you’re in a cage follow austinsilver on Instagram and broaden your horizons
I wouldn’t suggest that, kinda like watching one plant to see if it sprouts, when you can analyze 10 and look for the best setup
Follow austinsilver on Instagram he has free training and he will show you how to make money
Focusing on the wrong one pair, is stagnant I wouldn’t suggest that…every pair is going to move in only 3 directions up ,down, or lateral , capitalizing on entry and exit is key…once you figure the range of movements then you can become quite profitable… follow austinsilver for additional free training on Instagram or YouTube
I know a few people who do make a profit on a regular basis, but I wouldn’t call them rich.
Generally birds of a feather flock together, chances are if you’re not in their circle you’re not rich, and until you become rich you will not know any one who is, get rich then we’ll see who your friends are… And yes Forex can make you rich…it also can make you poor, there’s always two sides to every trade…
Me personally ? Never, but I assume it’s not a public info and such person may hanging out with niche people like that here, if that’s what you mean, correct ? People usually don’t talk too much this days about getting rich if that’s the case, you may get problems, you know - money like silence;)
I’m more interested on those who have made a substantial income solely from Forex. If there are other income sources then those income sources may just be offsetting losses from fx.
On another note, how much did you start with?
Do you know anyone personally who has become successful?
3 years isn’t such a long time. In those 3 years, did they have a day job or did they focus solely on trading?
I’m finding it hard to focus on a single pair because I can’t find good setups all the time. This sometimes leads to forcing trades.